SEC Filing | BankFinancial Corporation

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bfin20200514_8k.htm

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): April 19, 2021

BANKFINANCIAL CORPORATION

(Exact Name of Registrant as Specified in Charter)

Maryland

0-51331

75-3199276

(State or Other Jurisdiction

of Incorporation)

(Commission

File No.)

(I.R.S. Employer

Identification No.)


60 North Frontage Road, Burr Ridge, Illinois (Address of Principal Executive Offices)		60527 (Zip Code)

Registrant’s telephone number, including area code: (800) 894-6900

Not Applicable

(Former name, former address and former fiscal year, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.01 per share		BFIN		The NASDAQ Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On April 19, 2021, BankFinancial Corporation (Nasdaq – BFIN) issued a press release announcing the results for the first quarter ended March 31, 2021 in a conference call and webcast for stockholders and analysts on Wednesday, April 21, 2021 at 9:30 a.m. Chicago, Illinois Time.

The conference call may be accessed by calling (844) 413-1780 using participant passcode 7575417. The conference call will be simultaneously webcast at www.bankfinancial.com, “Investor Relations” page.

Item 9.01 Financial Statements and Exhibits.

(a)

Not Applicable.

(b)

Not Applicable.

(c)

Not Applicable.

(d)

Exhibits.

	Exhibit No.	Description
	99.1	Press Release dated April 19, 2021
	99.2	Quarterly Financial and Statistical Supplement
	104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

		BANKFINANCIAL CORPORATION

Dated:	April 19, 2021	By:	/s/ F. Morgan Gasior
			F. Morgan Gasior
			Chairman of the Board, Chief Executive Officer and President

ex_186771.htm

Exhibit 99.1

https://cdn.kscope.io/6fe9f1894bf0350186b33f48b702a931-bfinlogo.jpg

FOR IMMEDIATE RELEASE

BankFinancial Corporation Reports Financial Results for the First Quarter 2021 and

Will Host Conference Call and Webcast on Wednesday, April 21, 2021

Burr Ridge, Illinois - (April 19, 2021) BankFinancial Corporation (Nasdaq – BFIN) (the “Company”) reported net income for the three months ended March 31, 2021 of $1.5 million, or $0.10 per common share, compared to net income of $2.4 million, or $0.16 per common share, for the three months ended March 31, 2020. At March 31, 2021, BankFinancial had total assets of $1.620 billion, total loans of $1.029 billion, total deposits of $1.422 billion and stockholders' equity of $171 million.

Total net loans increased by $26.3 million for the quarter ended March 31, 2021, primarily due to continued strong originations of commercial equipment finance transactions and increased utilization of commercial lessor finance lines of credit. Total commercial loans and leases increased by $37.6 million (9.3%) for the quarter ended March 31, 2021, compared to an increase of $25.4 million (6.7%) for the quarter ended December 31, 2020. The total balance of SBA Paycheck Protection Program (PPP) commercial loans was $10.9 million at March 31, 2021, as we originated $8.6 million in new PPP loans and we received $7.9 million in PPP forgiveness payments for the quarter. Multi-family and nonresidential real estate loans declined by $7.9 million (1.4%) as increased loan originations nearly offset substantially reduced loan payoffs.

Total deposits increased by $28.5 million, primarily due to a $44.9 million increase in core retail and business deposits, partially offset by a $15.4 million decrease in retail certificates of deposit.

Net interest income declined by $952,000 due to a decline in the average interest-earning assets yield from 3.27% to 2.98% resulting from a lower average yield on loans and significantly reduced loan prepayment income during the first quarter of 2021, partially offset by a $335,000 recovery in the allowance for loan losses. Noninterest income declined by $283,000, primarily due to seasonal reductions in commercial loan commitment fees and credit risk premiums compared to the fourth quarter of 2020. Noninterest expenses increased $413,000 due to a $232,000 increase in payroll taxes and benefit expense, and a $160,000 increase in office occupancy expenses.

The Company’s ratio of nonperforming loans to total loans was 0.07% and nonperforming commercial-related loans represented 0.03% of total commercial-related loans at March 31, 2021. The ratio of nonperforming assets to total assets increased to 0.33% at March 31, 2021, due to the inclusion of $4.3 million of collateral repossessed related to a previously classified Chicago commercial loan in the first quarter of 2021. Our allowance for loan losses decreased to 0.71% of total loans as of March 31, 2021, compared to 0.77% at December 31, 2020.

The Company’s capital position remained strong, with a Tier 1 leverage ratio of 10.67% at March 31, 2021. The Company repurchased 146,106 common shares during the quarter ended March 31, 2021. The Company’s book value per common share increased to $11.72 per share at March 31, 2021.

The Quarterly Financial and Statistical Supplement includes comparative GAAP and non-GAAP performance data and financial measures for the most recent five quarters.

BankFinancial's management will review first quarter 2021 results in a conference call and webcast for stockholders and analysts on Wednesday, April 21, 2021 at 9:30 a.m. Chicago, Illinois Time. The conference call may be accessed by calling (844) 413-1780 using participant passcode 7575417. The conference call will be simultaneously webcast at www.bankfinancial.com, “Investor Relations” page. For those unable to participate in the conference call, the webcast will be archived through Wednesday, May 5, 2021 on our website.

BankFinancial Corporation is the holding company for BankFinancial, NA, a national bank providing financial services to individuals, families and businesses through 19 full-service banking offices, located in Cook, DuPage, Lake and Will Counties, Illinois and to selected commercial loan and deposit customers on a regional or national basis. BankFinancial Corporation's common stock trades on the Nasdaq Global Select Market under the symbol BFIN. Additional information may be found at The Company's website, www.bankfinancial.com.

This release includes “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. A variety of factors could cause BankFinancial’s actual results to differ from those expected at the time of this release. For a discussion of some of the factors that may cause actual results to differ from expectations, please refer to BankFinancial’s most recent Annual Report on Form 10-K as filed with the SEC, as supplemented by subsequent filings with the SEC. Investors are urged to review all information contained in these reports, including the risk factors discussed therein. Copies of these filings are available at no cost on the SEC's web site at www.sec.gov or on BankFinancial’s web site at www.bankfinancial.com. Forward looking statements speak only as of the date they are made, and we do not undertake to update them to reflect changes.



For Further Information Contact:
Shareholder, Analyst and Investor Inquiries:		Media Inquiries:
Elizabeth A. Doolan Senior Vice President – Finance BankFinancial Corporation Telephone: 630-242-7151		Gregg T. Adams President – Marketing & Sales BankFinancial, NA Telephone: 630-242-7234

ex_186772.htm

Exhibit 99.2

BANKFINANCIAL CORPORATION

First QUARTER 2021

QUARTERLY FINANCIAL AND STATISTICAL SUPPLEMENT

FOR THE LATEST FIVE QUARTERS

Note: Certain reclassifications have been made in the prior period’s financial statements and reflected in the Selected Quarterly Financial and Statistical Data tables to conform to the current period’s presentation.

The information and statistical data contained herein have been prepared by BankFinancial Corporation and have been derived or calculated from selected quarterly and period–end historical financial statements prepared in accordance with accounting principles generally accepted in the United States. BankFinancial Corporation is under no obligation to update, keep current, or continue to provide the information contained herein. This information is provided solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or establish any business relationships with BankFinancial Corporation or its subsidiary.

BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

(Dollars in thousands; except per share) – (Unaudited)

		2021			2020
	IQ			IVQ			IIIQ			IIQ			IQ
PERFORMANCE MEASUREMENTS
Return on assets (ratio of net income to average total assets) ⁽¹⁾		0.37	%		0.62	%		0.49	%		0.61	%		0.66	%
Return on equity (ratio of net income to average equity) ⁽¹⁾		3.40			5.63			4.50			5.42			5.52
Net interest rate spread ⁽¹⁾		2.73			2.92			2.69			2.90			3.19
Net interest margin ⁽¹⁾		2.81			3.03			2.85			3.09			3.44
Efficiency ratio ⁽²⁾		86.05			74.40			79.82			74.06			72.03
Noninterest expense to average total assets ⁽¹⁾		2.56			2.46			2.45			2.40			2.63
Average interest–earning assets to average interest–bearing liabilities		141.49			142.75			141.40			138.21			132.68
Number of full service offices		19			19			19			19			19
Employees (full time equivalents)		220			210			210			199			226

SUMMARY STATEMENT OF FINANCIAL CONDITION
ASSETS
Cash and due from other financial institutions	$	9,567		$	14,115		$	13,740		$	13,826		$	14,652
Interest-bearing deposits in other financial institutions		489,016			489,381			415,925			370,939			155,286
Securities, at fair value		20,751			23,829			42,048			59,437			63,853
Loans receivable, net		1,028,840			1,002,578			1,065,892			1,081,798			1,147,628
Foreclosed assets, net		4,630			157			110			143			110
Stock in Federal Home Loan Bank and Federal Reserve Bank, at cost		7,490			7,490			7,490			7,490			7,490
Premises and equipment, net		24,726			24,675			24,241			24,323			24,202
Bank-owned life insurance		19,036			19,015			18,996			18,986			18,977
Deferred taxes		2,473			2,741			3,520			3,615			3,644
Other assets		13,856			12,861			12,981			12,572			14,440
Total assets	$	1,620,385		$	1,596,842		$	1,604,943		$	1,593,129		$	1,450,282

LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits	$	1,422,037		$	1,393,544		$	1,402,244		$	1,388,155		$	1,253,751
Borrowings		4,000			4,000			4,000			4,000			—
Other liabilities		22,915			26,368			26,302			28,520			23,536
Total liabilities		1,448,952			1,423,912			1,432,546			1,420,675			1,277,287
Stockholders’ equity		171,433			172,930			172,397			172,454			172,995
Total liabilities and stockholders’ equity	$	1,620,385		$	1,596,842		$	1,604,943		$	1,593,129		$	1,450,282

⁽¹⁾	Annualized

⁽²⁾	The efficiency ratio represents noninterest expense, divided by the sum of net interest income and noninterest income.

Page 1

BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

(Dollars in thousands; except per share) – (Unaudited)

		2021			2020
	IQ			IVQ			IIIQ			IIQ		IQ
SUMMARY STATEMENT OF OPERATIONS
Total interest income	$	11,248		$	12,543		$	12,485		$	13,194	$	14,653
Total interest expense		668			947			1,488			1,869		2,684
Net interest income		10,580			11,596			10,997			11,325		11,969
Provision for (recovery of) loan losses		(335	)		(271	)		(187	)		42		471
Net interest income after provision for (recovery of) loan losses		10,915			11,867			11,184			11,283		11,498
Noninterest income		1,258			1,541			1,264			1,163		1,398
Noninterest expense		10,187			9,774			9,787			9,249		9,628
Income before income tax		1,986			3,634			2,661			3,197		3,268
Income tax expense ⁽¹⁾		517			1,189			713			845		850
Net income	$	1,469		$	2,445		$	1,948		$	2,352	$	2,418
Basic and diluted earnings per common share	$	0.10		$	0.17		$	0.13		$	0.16	$	0.16

NONINTEREST INCOME AND EXPENSE
Noninterest Income
Deposit service charges and fees	$	738		$	740		$	833		$	736	$	887
Loan servicing fees		55			363			44			82		63
Mortgage brokerage and banking fees		12			14			44			11		29
Loss on disposal of other assets		—			(3	)		—			—		(2	)
Trust insurance commissions and annuities income		334			233			222			224		282
Earnings on bank-owned life insurance		21			19			10			9		32
Other		98			175			111			101		107
Total noninterest income	$	1,258		$	1,541		$	1,264		$	1,163	$	1,398

Noninterest Expense
Compensation and benefits	$	5,471		$	5,239		$	5,398		$	5,168	$	5,518
Office occupancy and equipment		2,138			1,978			1,860			1,723		1,800
Advertising and public relations		196			159			135			118		152
Information technology		658			741			781			808		864
Professional fees		370			412			341			289		314
Supplies, telephone, and postage		400			357			288			284		303
Amortization of intangibles		7			7			6			7		14
Nonperforming asset management		41			(8	)		57			57		40
Operations of foreclosed assets, net		53			4			23			7		(17	)
FDIC insurance premiums		106			107			105			102		34
Other		747			778			793			686		606
Total noninterest expense	$	10,187		$	9,774		$	9,787		$	9,249	$	9,628

⁽¹⁾	Income tax expense for the quarter ended December 31, 2020 includes a $200,000 valuation reserve related to the Company's Illinois NOL carryforward.

Page 2

BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

(Dollars in thousands; except per share) – (Unaudited)

		2021			2020
	IQ			IVQ			IIIQ			IIQ			IQ
LOANS
One–to–four family residential real estate	$	38,236		$	41,691		$	44,812		$	48,928		$	52,849
Multi–family mortgage		440,824			452,241			522,825			536,619			542,421
Nonresidential real estate		112,154			108,658			124,477			127,560			133,432
Construction and land		499			499			—			—			—
Commercial loans and leases ⁽¹⁾		442,706			405,057			379,638			374,606			424,112
Consumer		1,756			1,812			1,784			1,783			2,078
		1,036,175			1,009,958			1,073,536			1,089,496			1,154,892
Net deferred loan origination costs		60			371			367			458			848
Allowance for loan losses		(7,395	)		(7,751	)		(8,011	)		(8,156	)		(8,112	)
Loans, net	$	1,028,840		$	1,002,578		$	1,065,892		$	1,081,798		$	1,147,628

LOAN ORIGINATIONS ⁽²⁾
One–to–four family residential real estate	$	403		$	290		$	557		$	667		$	659
Multi–family mortgage		20,680			16,024			12,593			21,546			17,642
Nonresidential real estate		5,046			61			217			855			4,772
Construction and land		—			499			—			—			—
Commercial loans		77,072			72,441			40,439			110,080			151,098
Equipment finance		67,913			75,491			58,864			18,036			46,503
Consumer		605			640			590			489			883
	$	171,719		$	165,446		$	113,260		$	151,673		$	221,557
Weighted average interest rate		3.87	%		4.16	%		4.04	%		4.13	%		4.55	%

LOAN PAYMENTS and PAYOFFS ⁽³⁾
One–to–four family residential real estate	$	3,897		$	3,396		$	4,711		$	4,586		$	3,511
Multi–family mortgage		32,737			86,003			26,630			27,814			38,213
Nonresidential real estate		1,627			15,881			3,159			6,583			6,740
Commercial loans		70,531			82,006			56,765			139,932			162,015
Equipment finance		31,547			40,746			38,804			35,841			31,167
Consumer		634			614			580			755			989
	$	140,973		$	228,646		$	130,649		$	215,511		$	242,635
Weighted average interest rate		4.27	%		4.57	%		4.49	%		4.58	%		4.74	%

⁽¹⁾	Beginning in Q3 2020, commercial loans and leases are presented as one line item. Previously they were presented separately. Prior periods have been reclassified to conform with current presentation.
⁽²⁾	Loan originations include purchased loans, draws on revolving lines of credit and exclude loan renewals.

⁽³⁾	Loan payments and payoffs exclude loan renewals.

Page 3

BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

(Dollars in thousands; except per share) – (Unaudited)

		2021			2020
	IQ			IVQ			IIIQ			IIQ			IQ
CREDIT QUALITY:
Nonperforming Assets:
Nonaccrual loans:
One–to–four family residential real estate	$	384		$	925		$	465		$	662		$	476
Nonresidential real estate		296			296			1,870			288			288
Other commercial leases		—			—			—			833			—
Nonaccrual loans		680			1,221			2,335			1,783			764

Foreclosed assets, net
Other real estate owned:
One–to–four family residential real estate		695			157			110			143			110
Nonresidential real estate		170			—			—			—			—
Other real estate owned		865			157			110			143			110

Other foreclosed assets		3,765			—			—			—			—
Foreclosed assets, net		4,630			157			110			143			110

Nonperforming assets	$	5,310		$	1,378		$	2,445		$	1,926		$	874

Asset Quality Ratios
Nonperforming assets to total assets		0.33	%		0.09	%		0.15	%		0.12	%		0.06	%
Nonperforming loans to total loans ⁽¹⁾		0.07			0.12			0.22			0.16			0.07
Nonperforming commercial-related loans to total commercial-related loans ⁽²⁾		0.03			0.03			0.18			0.11			0.03
Nonperforming residential and consumer loans to total residential and consumer loans		0.96			2.13			1.00			1.31			0.87
Allowance for loan losses to nonperforming loans		1,087.50			634.81			343.08			457.43			1061.78

Concentrations of Credit
Commercial real estate for FFIEC concentration limits	$	528,906		$	540,837		$	622,273		$	637,777		$	648,991
% FFIEC total capital		312.12	%		321.95	%		366.52	%		374.58	%		381.15	%

Multi–family mortgage loans - 50% risk based capital qualified (included above)	$	207,531		$	238,124		$	278,271		$	235,176		$	281,962
% FFIEC total capital		122.47	%		141.75	%		163.90	%		138.12	%		165.60	%

⁽¹⁾	Nonperforming loans include nonaccrual loans and loans past due 90 days and still accruing.

⁽²⁾	Commercial-related loans include multi-family mortgage, nonresidential real estate, construction and land, and commercial loans and leases.

Page 4

BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

(Dollars in thousands; except per share) – (Unaudited)

		2021			2020
	IQ			IVQ			IIIQ			IIQ			IQ
SUBSTANDARD PERFORMING LOANS
One–to–four family residential real estate	$	628		$	486		$	517		$	501		$	440
Nonresidential real estate		82			84			1,196			2,790			89
Commercial loans and leases		11			5,891			1,296			1,261			1,423
Consumer		4			5			5			11			9
	$	725		$	6,466		$	3,014		$	4,563		$	1,961

ALLOWANCE FOR LOAN LOSSES
Beginning balance	$	7,751		$	8,011		$	8,156		$	8,112		$	7,632
Charge–offs:
One–to–four family residential real estate		—			(2	)		(2	)		—			(5	)
Commercial loans and leases		(86	)		—			—			—			—
Consumer		(9	)		(18	)		(14	)		(17	)		(13	)
		(95	)		(20	)		(16	)		(17	)		(18	)
Recoveries:
One–to–four family residential real estate		60			19			2			3			13
Multi–family mortgage		11			11			56			15			12
Commercial loans and leases		1			1			—			1			2
Consumer		2			—			—			—			—
		74			31			58			19			27

Net recoveries (charge–offs)		(21	)		11			42			2			9
Provision for (recovery of ) loan losses		(335	)		(271	)		(187	)		42			471
Ending balance	$	7,395		$	7,751		$	8,011		$	8,156		$	8,112

Allowance for loan losses to total loans		0.71	%		0.77	%		0.75	%		0.75	%		0.70	%
Net recoveries (charge–offs) ratio ⁽¹⁾		(0.01	)		—			0.02			—			—

⁽¹⁾	Annualized

Page 5

BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

(Dollars in thousands; except per share) – (Unaudited)

		2021			2020
	IQ			IVQ			IIIQ			IIQ			IQ
DEPOSITS
Noninterest–bearing demand	$	334,463		$	326,188		$	328,915		$	305,096		$	211,142
Interest–bearing NOW accounts		341,517			336,994			316,976			306,629			266,828
Money market accounts		318,449			297,801			283,236			268,143			247,227
Savings deposits		191,018			179,561			171,766			167,570			155,505
Certificates of deposit - retail		230,407			245,823			278,560			307,033			323,038
Certificates of deposit - wholesale		6,183			7,177			22,791			33,684			50,011
	$	1,422,037		$	1,393,544		$	1,402,244		$	1,388,155		$	1,253,751

SELECTED AVERAGE BALANCES
Total average assets	$	1,592,419		$	1,588,887		$	1,599,148		$	1,541,352		$	1,465,253
Total average interest–earning assets		1,528,472			1,524,087			1,534,324			1,475,901			1,400,539
Average loans		1,010,682			1,047,244			1,080,521			1,116,067			1,160,197
Average securities		21,207			36,180			52,265			66,750			62,919
Average stock in FHLB & FRB		7,490			7,490			7,490			7,490			7,490
Average other interest–earning assets		489,093			433,173			394,048			285,594			169,933
Total average interest–bearing liabilities		1,080,271			1,067,628			1,085,129			1,067,854			1,055,550
Average interest–bearing deposits		1,076,271			1,063,628			1,081,129			1,065,480			1,055,535
Average borrowings		4,000			4,000			4,000			2,374			15
Average stockholders’ equity		172,841			173,649			173,266			173,677			175,069

SELECTED YIELDS AND COST OF FUNDS ⁽¹⁾
Total average interest–earning assets		2.98	%		3.27	%		3.24	%		3.60	%		4.21	%
Average loans		4.39			4.62			4.43			4.57			4.72
Average securities		1.03			1.06			1.39			1.63			1.94
Average other interest–earning assets		0.15			0.18			0.19			0.24			1.54
Total average interest–bearing liabilities		0.25			0.35			0.55			0.70			1.02
Average interest–bearing deposits		0.25			0.35			0.55			0.71			1.02
Average cost of total deposits		0.19			0.27			0.42			0.56			0.85
Average cost of retail and commercial deposits		0.24			0.33			0.49			0.63			0.94
Average cost of wholesale deposits and borrowings		1.54			1.85			2.21			2.35			2.52
Average cost of funds		0.19			0.27			0.42			0.56			0.85
Net interest rate spread		2.73			2.92			2.69			2.90			3.19
Net interest margin		2.81			3.03			2.85			3.09			3.44

⁽¹⁾	Annualized

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BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

(Dollars in thousands; except per share) – (Unaudited)

		2021			2020
	IQ			IVQ			IIIQ			IIQ			IQ
CAPITAL RATIOS
BankFinancial Corporation ⁽¹⁾
Equity to total assets (end of period)		10.58	%		10.83	%		10.74	%		10.82	%		11.93	%
Tangible equity to tangible total assets (end of period)		10.58			10.83			10.74			10.82			11.93
Risk–based total capital ratio		20.10			20.07			18.68			17.84			17.35
Common Tier 1 (CET1)		19.26			19.20			17.84			17.03			16.56
Risk–based tier 1 capital ratio		19.26			19.20			17.84			17.03			16.56
Tier 1 leverage ratio		10.67			10.79			10.66			11.06			11.67
Tier 1 capital	$	169,768		$	171,240		$	170,271		$	170,242		$	170,788
BankFinancial, NA ⁽²⁾
Risk–based total capital ratio		19.23	%		18.84	%		17.80	%		17.04	%		16.53	%
Common Tier 1 (CET1)		18.39			17.97			16.96			16.22			15.75
Risk–based tier 1 capital ratio		18.39			17.97			16.96			16.22			15.75
Tier 1 leverage ratio		10.19			10.10			10.13			10.54			11.10
Tier 1 capital	$	162,059		$	160,236		$	161,770		$	162,108		$	162,158

COMMON STOCK AND DIVIDENDS
Stock Prices:
Close	$	10.32		$	8.78		$	7.22		$	8.40		$	8.81
High		11.23			9.10			8.70			9.63			13.28
Low		8.48			7.14			6.81			6.73			7.33
Common shares outstanding		14,623,659			14,769,765			14,824,628			14,890,628			15,072,268
Book value per share	$	11.72		$	11.71		$	11.63		$	11.58		$	11.48
Tangible book value per share	$	11.72		$	11.71		$	11.63		$	11.58		$	11.48
Cash dividends declared on common stock	$	0.10		$	0.10		$	0.10		$	0.10		$	0.10
Dividend payout ratio		100.29	%		60.43	%		76.13	%		63.73	%		62.94	%
Stock repurchases	$	1,488		$	416		$	518		$	1,474		$	2,202
Stock repurchases – shares		146,106			54,863			66,000			181,640			206,196

EARNINGS PER SHARE COMPUTATIONS
Net income	$	1,469		$	2,445		$	1,948		$	2,352		$	2,418
Weighted average basic and dilutive common shares outstanding		14,723,769			14,783,042			14,842,150			14,978,757			15,205,731
Basic and diluted earnings per common share	$	0.10		$	0.17		$	0.13		$	0.16		$	0.16

⁽¹⁾	As a small bank holding company, the Company is exempt from the Federal Reserve Board's risk-based capital and leverage rules. BankFinancial Corporation capital data is included for informational purposes only.

⁽²⁾

As a qualifying community bank pursuant to Section 201 of the Economic Growth, Regulatory Relief and Consumer Protection Act of 2018, the Bank elected to adopt the Community Bank Leverage Ratio requirement in the second quarter of 2020. Pursuant to the Coronavirus Aid, Relief, and Economic Security Act of 2021, the Bank's required minimum Community Bank Leverage Ratio is 8.50% for the period ended March 31, 2021. The Community Bank Leverage Ratio is equal to the Bank's Tier 1 Leverage Ratio. BankFinancial, NA capital data is included for informational purposes only.

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