The Federal Reserve System has received applications from several parties, known collectively as The Stilwell Group, which includes Stilwell Activist Investments, L.P., Stilwell Activist Fund, L.P., Stilwell Partners, L.P., and Joseph D. Stilwell. These parties are seeking approval to buy shares in IF Bancorp, Inc., and consequently in Iroquois Federal Savings and Loan Association, both located in Watseka, Illinois. The public is invited to comment on these applications by April 14, 2025, and comments will be made publicly available. Applications and related documents can be reviewed at the indicated Federal Reserve Banks or obtained via the Federal Reserve's Freedom of Information Office.
Simple Explanation
The Federal Reserve is checking if some people who want to buy a part of a bank in Illinois are okay to do so, and they're asking everyone if they have any thoughts or concerns about it by April 14, 2025.