- Today
- Holidays
- Birthdays
- Reminders
- Cities
- Atlanta
- Austin
- Baltimore
- Berwyn
- Beverly Hills
- Birmingham
- Boston
- Brooklyn
- Buffalo
- Charlotte
- Chicago
- Cincinnati
- Cleveland
- Columbus
- Dallas
- Denver
- Detroit
- Fort Worth
- Houston
- Indianapolis
- Knoxville
- Las Vegas
- Los Angeles
- Louisville
- Madison
- Memphis
- Miami
- Milwaukee
- Minneapolis
- Nashville
- New Orleans
- New York
- Omaha
- Orlando
- Philadelphia
- Phoenix
- Pittsburgh
- Portland
- Raleigh
- Richmond
- Rutherford
- Sacramento
- Salt Lake City
- San Antonio
- San Diego
- San Francisco
- San Jose
- Seattle
- Tampa
- Tucson
- Washington
Oswego Today
By the People, for the People
ServBanc Holdco Completes Acquisition of IF Bancorp
Acquisition expands Servbank's footprint in Illinois market
Mar. 13, 2026 at 4:01am
Got story updates? Submit your updates here. ›
ServBanc Holdco, Inc., the holding company for Servbank, National Association, has completed its acquisition of IF Bancorp, Inc., the holding company for Iroquois Federal Savings and Loan Association. The acquisition represents a strategic step forward for Servbank as it continues to grow its presence in the Illinois market.
Why it matters
The acquisition allows Servbank to expand its community-focused banking model and customer-centric approach by integrating Iroquois Federal's established presence and relationships in the Illinois market. It also strengthens Servbank's overall financial footprint and capabilities.
The details
Under the terms of the deal, Servbank will integrate Iroquois Federal's operations, including its technology and personnel. Former Iroquois Federal branch offices will continue operating under the Iroquois Federal name until the customer and data conversion is completed in Q4 2026. Servbank CEO Donald Satiroff emphasized the acquisition is about strengthening the organization's ability to serve customers and communities.
- The acquisition closed on March 12, 2026.
- Customer and data conversion is anticipated to be completed in Q4 2026.
The players
ServBanc Holdco, Inc.
The holding company for Servbank, National Association, a national banking association focused on delivering relationship-based banking solutions.
IF Bancorp, Inc.
The holding company for Iroquois Federal Savings and Loan Association, a community-focused bank with deep roots in the Illinois market.
Stavros Papastavrou
Chairman of the Board of ServBanc Holdco, Inc., a seasoned financial services executive providing strategic leadership.
Donald Satiroff
CEO of Servbank, National Association.
Walter "Chip" Hasselbring III
Former CEO and Chairman of the board of directors for Iroquois Federal, now appointed to the Servbank board of directors.
What they’re saying
“This acquisition represents a strategic step forward as Servbank continues to grow its presence. We are excited to collaborate with the Iroquois team, whose deep community roots and customer‑focused approach align closely with our own. Together, we will build on that foundation to support our communities and strengthen the organization for the future.”
— Stavros Papastavrou, Chairman of the Board, ServBanc Holdco, Inc.
“At its core, this acquisition is about people- our customers, our employees, and the communities that rely on us. By coming together, we are strengthening our ability to serve while preserving the relationship-driven, community-focused approach that has always defined Iroquois Federal. We look forward to growing with the Iroquois Federal team, entrenching our commitment to the communities, and providing best in class service to our customers.”
— Donald Satiroff, CEO, Servbank, National Association
What’s next
The customer and data conversion is anticipated to be completed in the fourth quarter of 2026, at which point the former Iroquois Federal branch offices will be fully integrated into Servbank's operations.
The takeaway
The acquisition of IF Bancorp allows Servbank to expand its community-focused banking model and customer-centric approach by integrating Iroquois Federal's established presence and relationships in the Illinois market, strengthening Servbank's overall financial footprint and capabilities.

