Banking

If Bancorp, Inc. Executive Compensation (FY24)

Name: If Bancorp, Inc. (IROQ) executive compensation
Creator: Velarion
License: https://intel.velarion.ai/terms

IROQ · Executive and director compensation, fiscal 2023 to 2024

Chief executive, fiscal 2024

◇

Walter Hasselbring

Latest say-on-pay support

November 25, 2024

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Data as of October 22, 2026Latest filing (8-K): November 26, 2024

10 filings cited on this page

Method: intel.velarion.ai/methodology

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92 figures on this page: 82 cited to the filing that reported them, 10 calculated from figures it prints. See the citations

Frequently asked questions

Answers drawn from the data on this page.

Who is If Bancorp, Inc.'s chief executive and what were they paid?

Walter Hasselbring, President and Chief Executive Officer, received $574,160 in total compensation for fiscal 2024. Hasselbring's total moved 30.0% lower from the $819,707 reported for fiscal 2023.

What was If Bancorp, Inc.'s say-on-pay result?

The say-on-pay proposal drew 42.2% of votes cast for or against in favor at the meeting held November 25, 2024 for fiscal 2024.

Which companies are in If Bancorp, Inc.'s peer group?

The disclosed peer group includes BankFinancial Corporation, Consumers Bancorp, Inc., CSB Bancorp, Inc., First Capital, Inc. and HMN Financial, Inc., among others.

Executive compensation

Every element reported for each named executive officer, by fiscal year.

Fiscal 2023

Officer	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	Pension and deferred earnings	All other compensation	Total
Walter Hasselbring President and Chief Executive Officer	◇	◇	◇	—	◇	—	◇	◇
Pamela Verkler Senior Executive Vice President and Chief Financial Officer	◇	◇	◇	—	◇	—	◇	◇
Thomas Chamberlain Senior Executive Vice President	◇	◇	◇	—	◇	—	◇	◇

Fiscal 2024

Officer	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	Pension and deferred earnings	All other compensation	Total
Walter Hasselbring President and Chief Executive Officer	◇	—	—	—	◇	—	◇	◇
Pamela Verkler Senior Executive Vice President and Chief Financial Officer	◇	—	—	—	◇	—	◇	◇
Thomas Chamberlain Senior Executive Vice President	◇	—	—	—	◇	—	◇	◇

A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Outstanding awards

Awards still held at fiscal year end.

As disclosed at fiscal 2024 year end

Officer	Award	Unvested units	Market value of unvested units	Exercise price	Expires
Walter Hasselbring	RSU	◇	◇	—	—
Thomas Chamberlain	RSU	◇	◇	—	—
Pamela Verkler	RSU	◇	◇	—	—

A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.

Fiscal 2024

Director	Fees earned in cash	Stock awards	Option awards	Non-equity incentive	Pension and deferred earnings	All other compensation	Total
Gary Martin Board chair	◇	—	—	—	—	—	◇
Richard S. Stenzinger	◇	—	—	—	—	—	◇
Dennis C. Wittenborn	◇	—	—	—	—	—	◇
Wayne A. Lehmann	◇	—	—	—	—	—	◇
Alan D. Martin	◇	—	—	—	—	—	◇
Rodney E. Yergler	◇	—	—	—	—	—	◇
Joseph A. Cowan	◇	—	—	—	—	—	◇

Pamela J. Verkler and Walter H. Hasselbring III served on the board in fiscal 2024 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.

Earlier years are included in the PDF.

A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.

Board cash retainer	◇
Board chair premium	◇
Audit committee chair	◇

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.

Fiscal 2024

BankFinancial Corporation BFIN
Consumers Bancorp, Inc. CBKM
CSB Bancorp, Inc. CSBB
First Capital, Inc. FCAP
HMN Financial, Inc. HMNF
Landmark Bancorp, Inc. LARK
Middlefield Banc Corp. MBCN
Ohio Valley Banc Corp. OVBC
PSB Holdings, Inc. symbol not shown
Richmond Mutual Bancorporation, Inc. RMBI
SB Financial Group, Inc. SBFG
United Bancorp, Inc. UBCP

Say-on-pay history

Shareholder support for the compensation program, by year.

Year	Meeting	Support	Votes for	Votes against	Abstentions
2024	November 25, 2024	=	◇	◇	◇
2023	November 20, 2023	=	◇	◇	◇
2022	November 20, 2023	=	◇	◇	◇
2021	November 21, 2022	=	◇	◇	◇
2020	November 22, 2021	=	◇	◇	◇
2019	November 23, 2020	=	◇	◇	◇
2018	November 25, 2019	=	◇	◇	◇
2017	November 19, 2018	=	◇	◇	◇
2016	November 20, 2017	=	◇	◇	◇
2015	November 21, 2016	=	◇	◇	—

Ask our research desk — $99, 24h, every figure cited to its filing.

Sample answer — “What is the CEO’s total compensation?”

- Walter Hasselbring (President and Chief Executive Officer), FY2024 total compensation $574,160 (base salary $447,000) [exec_comp, SEC accession 0001193125-24-238022, filed 2024-10-16]

See a complete sample report

What this page does not include

Everything above is a fact If Bancorp, Inc. disclosed, and it is free. Everything below is our analysis of those facts, and it is not.

Peer benchmarking

Where If Bancorp, Inc. sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.

Executive Compensation Report — $1,500

Written compensation analysis

A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.

Executive Compensation Report — $1,500

Board and governance analysis

Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.

Board Governance Report — $499

Realizable pay

What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.

Velarion Intelligence

Say-on-pay responsiveness

If Bancorp, Inc. recorded a low support level. The responsiveness analysis covers what the company said it would do, what it did, and how that compares with the companies that recovered their vote.

Responsiveness analysis

Adviser switching and vote outcomes

Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.

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Multiple companies at once

Cross-company views, cohort screens, and data export across the industries we cover. This page is one company; the platform is all of them.

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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.

92 figures on this page: 82 cited to the filing that reported them, 10 calculated from figures it prints.

82 cited to the filing

10 calculated from the filing

Documents cited

8-K, filed November 26, 2024
0000943374-24-000478
Item 404(a) of Securities and Exchange Commission Regulation S-K.
DEF 14A, filed October 16, 2024
0001193125-24-238022
8-K, filed November 21, 2023
0000943374-23-000451
8-K, filed November 22, 2022
0000943374-22-000480
8-K, filed November 23, 2021
0000943374-21-000524
8-K, filed November 24, 2020
0000943374-20-000563
8-K, filed December 2, 2019
0000943374-19-000501
8-K, filed November 26, 2018
0000943374-18-000420
8-K, filed November 27, 2017
0000943374-17-000509
8-K, filed November 22, 2016
0000943374-16-001256

Cite this data

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Velarion, “If Bancorp, Inc. executive compensation, FY2023–FY2024.” https://intel.velarion.ai/comp/IROQ (accessed 2026).

Short form: data: Velarion

The paid brief for If Bancorp, Inc.

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.

$1,500 for the Executive Compensation Report. Both reports for $2,400.

Get the executive brief Get the board briefNo account needed.

10 filings cited on this page

Method: intel.velarion.ai/methodology

A report that fails to generate is refunded in full

Published by Velarion Company Intelligence

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Banking rankings

Chief executive pay — Banking CEO pay ratio — Banking Say-on-pay support — Banking

Peers If Bancorp, Inc. discloses

The companies named in IROQ's own disclosed peer group.

BankFinancial Corporation Consumers Bancorp, Inc.CSB Bancorp, Inc.First Capital, Inc.Landmark Bancorp, Inc.Middlefield Banc Corp.Ohio Valley Banc Corp.Richmond Mutual Bancorporation, Inc.SB Financial Group, Inc.United Bancorp, Inc.

Terms on this page

Say-on-Pay Vote CEO Pay Ratio Median Employee Compensation All companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data

APA

Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854

BibTeX

@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}

More on If Bancorp, Inc.

Frequently asked questions

Executive compensation

Outstanding awards

Director compensation

Director fee schedule

Disclosed peer group

Say-on-pay history

What this page does not include

Citations

Documents cited

The paid brief for If Bancorp, Inc.

Banking rankings

Peers If Bancorp, Inc. discloses

Terms on this page