IFB Holdings, Inc. (the "Company") was organized in October 1996 for the purpose of serving as a holding company for Investors Federal Bank and Savings Association (the "Bank") upon its conversion from mutual to stock form, and of Investors Federal Bank, National Association following the conversion from a thrift to a national bank. On December 30, 1996, the Company closed its public offering for 592,523 shares of its common stock and acquired the Bank as part of the Bank's conversion from a mutual to a stock chartered federal savings bank. Approximately 50% of the net conversion proceeds were retained by the Company. The Company is subject to regulation by the Federal Reserve Bank and...