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false 0001303942 0001303942 2021-10-29 2021-10-29
 
 
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): October 29, 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 7.01. Regulation FD Disclosure.
 
BankFinancial Corporation (the “Company”) will review results for the third quarter and nine months ended September 30, 2021 in a conference call and webcast for stockholders and analysts on Monday, November 1, 2021 at 9:30 a.m. Chicago, Illinois Time. 
 
The conference call may be accessed by calling (844) 413-1780 using participant passcode 3184014. The conference call will be simultaneously webcast at www.bankfinancial.com, “Investor Relations” page.
 
Item 8.01. Other Events.

On October 29, 2021, the Company issued a press release announcing the filing of its Quarterly Report on Form 10-Q for the third quarter ended September 30, 2021 and issued the Quarterly Financial and Statistical Supplement for the latest five quarters. The press release and Quarterly Financial and Statistical Supplement are included as Exhibits 99.1 and 99.2 to this report.
 
Item 9.01    Financial Statements and Exhibits.
 
 
(a)
Not Applicable.
 
(b)
Not Applicable.
 
(c)
Not Applicable.
 
(d)
Exhibits.
 
Exhibit No.
Description
 
Press Release dated October 29, 2021
 
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:
 October 29, 2021
 
By:
/s/ F. Morgan Gasior
 
 
 
 
 
F. Morgan Gasior
 
 
 
 
 
Chairman of the Board, Chief Executive Officer and President
 
 
ex_273931.htm

 

Exhibit 99.1

 

https://cdn.kscope.io/f3ab30a8564b0ef4bee48415efc78f28-bfinlogo.jpg
 

FOR IMMEDIATE RELEASE

 

BankFinancial Corporation Reports Financial Results for the Third Quarter 2021 and

Will Host Conference Call and Webcast on Monday, November 1, 2021

 

Burr Ridge, Illinois - (October 29, 2021) BankFinancial Corporation (Nasdaq – BFIN) (the “BankFinancial”) filed its Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 and a Quarterly Financial and Statistical Supplement in Form 8-K with the U.S. Securities and Exchange Commission (the “SEC”) today.

 

BankFinancial reported net income for the three months ended September 30, 2021 of $1.6 million, or $0.12 per common share, compared to net income of $1.9 million, or $0.13 per common share, for the three months ended September 30, 2020.  BankFinancial also reported net income for the nine months ended September 30, 2021 of $5.0 million, or $0.35 per common share, compared to net income of $6.7 million, or $0.45  per common share, for the nine months ended September 30, 2020.  At September 30, 2021, BankFinancial had total assets of $1.660 billion, total loans of $1.047 billion, total deposits of $1.454 billion and stockholders' equity of $158 million.

 

The Quarterly Report on Form 10-Q and the Quarterly Financial and Statistical Supplement will be available today on BankFinancial's website, www.bankfinancial.com on the “Investor Relations” page, and through the EDGAR database on the SEC's website, www.sec.gov.  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 third quarter 2021 results in a conference call and webcast for stockholders and analysts on Monday, November 1, 2021 at 9:30 a.m. Chicago, Illinois Time.  The conference call may be accessed by calling (844) 413-1780 using participant passcode 3184014. 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 Monday, November 15, 2021 on our website.

 

BankFinancial Corporation is the holding company for BankFinancial, NA, a national bank providing banking, wealth management and fiduciary services to individuals, families and businesses in the Chicago metropolitan area and on a regional or national basis for commercial finance, equipment finance, commercial real estate finance and treasury management business customers.  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_273932.htm

Exhibit 99.2

 

 

 

BANKFINANCIAL CORPORATION

 

Third 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  
   

IIIQ

    

IIQ

    

IQ

    

IVQ

    

IIIQ

  

PERFORMANCE MEASUREMENTS

                                        

Return on assets (ratio of net income to average total assets) (1)

     0.40 %     0.47 %     0.37 %     0.62 %     0.49 %

Return on equity (ratio of net income to average equity) (1)

     4.05       4.52       3.40       5.63       4.50  

Net interest rate spread (1)

     2.68       2.67       2.73       2.92       2.69  

Net interest margin (1)

     2.75       2.75       2.81       3.03       2.85  

Efficiency ratio (2)

     81.96       83.94       86.05       74.40       79.82  

Noninterest expense to average total assets (1)

     2.45       2.50       2.56       2.46       2.45  

Average interest–earning assets to average interest–bearing liabilities

     138.97       140.97       141.49       142.75       141.40  

Number of full service offices

     19       19       19       19       19  

Employees (full time equivalents)

     224       218       220       210       210  
                                         

SUMMARY STATEMENT OF FINANCIAL CONDITION

                                        

ASSETS

                                        

Cash and due from other financial institutions

   $ 11,432     $ 12,185     $ 9,567     $ 14,115     $ 13,740  

Interest-bearing deposits in other financial institutions

     517,183       523,851       489,016       489,381       415,925  

Securities, at fair value

     14,693       18,883       20,751       23,829       42,048  

Loans receivable, net

     1,047,056       1,032,159       1,028,840       1,002,578       1,065,892  

Foreclosed assets, net

     1,049       1,702       4,630       157       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

     24,772       24,765       24,726       24,675       24,241  

Bank-owned life insurance

     19,097       19,066       19,036       19,015       18,996  

Deferred taxes

     2,348       2,363       2,473       2,741       3,520  

Other assets

     15,022       14,158       13,856       12,861       12,981  

Total assets

   $ 1,660,142     $ 1,656,622     $ 1,620,385     $ 1,596,842     $ 1,604,943  
                                         

LIABILITIES AND STOCKHOLDERS’ EQUITY

                                        

Deposits

   $ 1,454,389     $ 1,438,574     $ 1,422,037     $ 1,393,544     $ 1,402,244  

Borrowings

     5,000       5,000       4,000       4,000       4,000  

Subordinated Notes, net of unamortized issuance costs

     19,578       19,568       —       —       —  

Other liabilities

     23,002       27,044       22,915       26,368       26,302  

Total liabilities

     1,501,969       1,490,186       1,448,952       1,423,912       1,432,546  

Stockholders’ equity

     158,173       166,436       171,433       172,930       172,397  

Total liabilities and stockholders’ equity

   $ 1,660,142     $ 1,656,622     $ 1,620,385     $ 1,596,842     $ 1,604,943  

 

(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  
   

IIIQ

    

IIQ

    

IQ

    

IVQ

    

IIIQ

  

SUMMARY STATEMENT OF OPERATIONS

                                        

Total interest income

   $ 11,748     $ 11,497     $ 11,248     $ 12,543     $ 12,485  

Total interest expense

     718       722       668       947       1,488  

Net interest income

     11,030       10,775       10,580       11,596       10,997  

Recovery of loan losses

     (6 )     (678 )     (335 )     (271 )     (187 )

Net interest income after recovery of loan losses

     11,036       11,453       10,915       11,867       11,184  

Noninterest income

     1,374       1,426       1,258       1,541       1,264  

Noninterest expense

    

10,166

       10,241       10,187       9,774       9,787  

Income before income tax

     2,244       2,638       1,986       3,634       2,661  

Income tax expense (1)

     600       712       517       1,189       713  

Net income

   $ 1,644     $ 1,926     $ 1,469     $ 2,445     $ 1,948  

Basic and diluted earnings per common share

   $ 0.12     $ 0.13     $ 0.10     $ 0.17     $ 0.13  
                                         

NONINTEREST INCOME AND EXPENSE

                                        

Noninterest Income

                                        

Deposit service charges and fees

   $ 814     $ 800     $ 738     $ 740     $ 833  

Loan servicing fees

     140       141       55       363       44  

Mortgage brokerage and banking fees

     16       5       12       14       44  

Trust insurance commissions and annuities income

     263       283       334       233       222  

Earnings on bank-owned life insurance

     31       30       21       19       10  

Other

     110       167       98       172       111  

Total noninterest income

   $ 1,374     $ 1,426     $ 1,258     $ 1,541     $ 1,264  
                                         

Noninterest Expense

                                        

Compensation and benefits

   $ 5,782     $ 5,558     $ 5,471     $ 5,239     $ 5,398  

Office occupancy and equipment

     1,882       1,951       2,138       1,978       1,860  

Advertising and public relations

     150       179       196       159       135  

Information technology

     710       653       658       741       781  

Professional fees

     311       343       370       412       341  

Supplies, telephone, and postage

     382       442       400       357       288  

Amortization of intangibles

     —       —       7       7       6  

Nonperforming asset management

     6       8       41       (8 )     57  

Operations of foreclosed assets, net

     81       232       53       4       23  

FDIC insurance premiums

     125       114       106       107       105  

Other

     737       761       747       778       793  

Total noninterest expense

   $ 10,166     $ 10,241     $ 10,187     $ 9,774     $ 9,787  

 

(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  
   

IIIQ

    

IIQ

    

IQ

    

IVQ

    

IIIQ

  

LOANS

                                        

One–to–four family residential real estate

   $ 31,829     $ 34,762     $ 38,236     $ 41,691     $ 44,812  

Multi–family mortgage

     435,634       434,635       440,824       452,241       522,825  

Nonresidential real estate

     100,469       100,008       112,154       108,658       124,477  

Construction and land

     499       499       499       499       —  

Commercial loans and leases

     483,705       467,461       442,706       405,057       379,638  

Consumer

     1,760       1,796       1,756       1,812       1,784  
      1,053,896       1,039,161       1,036,175       1,009,958       1,073,536  

Net deferred loan origination fees and costs

     55       (145 )     60       371       367  

Allowance for loan losses

     (6,895 )     (6,857 )     (7,395 )     (7,751 )     (8,011 )

Loans, net

   $ 1,047,056     $ 1,032,159     $ 1,028,840     $ 1,002,578     $ 1,065,892  
                                         

LOAN ORIGINATIONS (1)

                                        

One–to–four family residential real estate

   $ 332     $ 349     $ 403     $ 290     $ 557  

Multi–family mortgage

     33,296       25,486       20,680       16,024       12,593  

Nonresidential real estate

     2,988       581       5,046       61       217  

Construction and land

     —       —       —       499       —  

Commercial loans

     125,404       83,548       77,072       72,441       40,439  

Equipment finance

     51,890       57,077       67,913       75,491       58,864  

Consumer

     584       652       605       640       590  
    $ 214,494     $ 167,693     $ 171,719     $ 165,446     $ 113,260  

Weighted average interest rate

     4.33 %     4.20 %     3.87 %     4.16 %     4.04 %
                                         

LOAN PAYMENTS and PAYOFFS (2)

                                        

One–to–four family residential real estate

   $ 3,364     $ 3,870     $ 3,897     $ 3,396     $ 4,711  

Multi–family mortgage

     32,362       31,554       32,737       86,003       26,630  

Nonresidential real estate

     2,613       12,643       1,627       15,881       3,159  

Commercial loans

     111,666       83,991       70,531       82,006       56,765  

Equipment finance

     49,241       31,856       31,547       40,746       38,804  

Consumer

     610       622       634       614       580  
    $ 199,856     $ 164,536     $ 140,973     $ 228,646     $ 130,649  

Weighted average interest rate

     4.38 %     4.44 %     4.27 %     4.57 %     4.49 %

 

(1)

Loan originations include purchased loans, draws on revolving lines of credit and exclude loan renewals.

(2)

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  
   

IIIQ

    

IIQ

    

IQ

    

IVQ

    

IIIQ

  

CREDIT QUALITY:

                                        

Nonperforming Assets:

                                        

Nonaccrual loans:

                                        

One–to–four family residential real estate

   $ 341     $ 588     $ 384     $ 925     $ 465  

Nonresidential real estate

     296       296       296       296       1,870  

Equipment finance - investment-rated

     9       —       —       —       —  

Nonaccrual loans

     646       884       680       1,221       2,335  
                                         

Foreclosed assets, net

                                        

Other real estate owned:

                                        

One–to–four family residential real estate

     112       335       695       157       110  

Nonresidential real estate

     140       140       170       —       —  

Other real estate owned

     252       475       865       157       110  
                                         

Other foreclosed assets

     797       1,227       3,765       —       —  

Foreclosed assets, net

     1,049       1,702       4,630       157       110  
                                         

Nonperforming assets

   $ 1,695     $ 2,586     $ 5,310     $ 1,378     $ 2,445  
                                         

Asset Quality Ratios

                                        

Nonperforming assets to total assets

     0.10 %     0.16 %     0.33 %     0.09 %     0.15 %

Nonperforming loans to total loans (1)

     0.06       0.09       0.07       0.12       0.22  

Nonperforming commercial-related loans to total commercial-related loans (2)

     0.03       0.03       0.03       0.03       0.18  

Nonperforming residential and consumer loans to total residential and consumer loans

     1.02       1.61       0.96       2.13       1.00  

Allowance for loan losses to nonperforming loans

     1,067.34       775.68       1,087.50       634.81       343.08  
                                         

Concentrations of Credit

                                        

Commercial real estate for FFIEC concentration limits

   $ 514,777     $ 513,165     $ 528,906     $ 540,837     $ 622,273  

% FFIEC total capital

     298.54 %     299.52 %     312.12 %     321.95 %     366.52 %
                                         

Multi–family mortgage loans - 50% risk based capital qualified (included above)

   $ 73,776     $ 130,984     $ 207,531     $ 238,124     $ 278,271  

% FFIEC total capital

     42.79 %     76.45 %     122.47 %     141.75 %     163.90 %
                                         

 

(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  
   

IIIQ

    

IIQ

    

IQ

    

IVQ

    

IIIQ

  

SUBSTANDARD PERFORMING LOANS

                                        

One–to–four family residential real estate

   $ 509     $ 390     $ 628     $ 486     $ 517  

Nonresidential real estate

     —       —       82       84       1,196  

Commercial loans and leases

     1,191       —       11       5,891       1,296  

Consumer

     7       4       4       5       5  
    $ 1,707     $ 394     $ 725     $ 6,466     $ 3,014  
                                         

ALLOWANCE FOR LOAN LOSSES

                                        

Beginning balance

   $ 6,857     $ 7,395     $ 7,751     $ 8,011     $ 8,156  

Charge–offs:

                                        

One-to-four family residential real estate

     —       —       —       (2 )     (2 )

Commercial loans and leases

     —       —       (86 )     —       —  

Consumer

     (2 )     (6 )     (9 )     (18 )     (14 )
      (2 )     (6 )     (95 )     (20 )     (16 )

Recoveries:

                                        

One-to-four family residential real estate

     38       49       60       19       2  

Multi-family mortgage

     7       10       11       11       56  

Commercial loans and leases

     1       87       1       1       —  

Consumer

     —       —       2       —       —  
      46       146       74       31       58  
                                         

Net recoveries (charge–offs)

     44       140       (21 )     11       42  

Recovery of loan losses

     (6 )     (678 )     (335 )     (271 )     (187 )

Ending balance

   $ 6,895     $ 6,857     $ 7,395     $ 7,751     $ 8,011  
                                         

Allowance for loan losses to total loans

     0.65 %     0.66 %     0.71 %     0.77 %     0.75 %

Net recoveries (charge–offs) ratio (1)

     0.02       0.05       (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  
   

IIIQ

    

IIQ

    

IQ

    

IVQ

    

IIIQ

  

DEPOSITS

                                        

Noninterest–bearing demand

   $ 328,182     $ 325,294     $ 334,463     $ 326,188     $ 328,915  

Interest–bearing NOW accounts

     392,273       368,902       341,517       336,994       316,976  

Money market accounts

     319,857       322,753       318,449       297,801       283,236  

Savings deposits

     196,810       196,701       191,018       179,561       171,766  

Certificates of deposit - retail

     213,320       220,482       230,407       245,823       278,560  

Certificates of deposit - wholesale

     3,947       4,442       6,183       7,177       22,791  
    $ 1,454,389     $ 1,438,574     $ 1,422,037     $ 1,393,544     $ 1,402,244  
                                         

SELECTED AVERAGE BALANCES

                                        

Total average assets

   $ 1,657,862     $ 1,641,003     $ 1,592,419     $ 1,588,887     $ 1,599,148  

Total average interest–earning assets

     1,592,482       1,573,429       1,528,472       1,524,087       1,534,324  

Average loans

     1,045,586       1,041,696       1,010,682       1,047,244       1,080,521  

Average securities

     16,915       20,735       21,207       36,180       52,265  

Average stock in FHLB & FRB

     7,490       7,490       7,490       7,490       7,490  

Average other interest–earning assets

     522,491       503,508       489,093       433,173       394,048  

Total average interest–bearing liabilities

     1,145,887       1,116,105       1,080,271       1,067,628       1,085,129  

Average interest–bearing deposits

     1,121,314       1,094,589       1,076,271       1,063,628       1,081,129  

Average borrowings and Subordinated Notes

     24,573       21,516       4,000       4,000       4,000  

Average stockholders’ equity

     162,361       170,509       172,841       173,649       173,266  
                                         

SELECTED YIELDS AND COST OF FUNDS (1)

                                        

Total average interest–earning assets

     2.93 %     2.93 %     2.98 %     3.27 %     3.24 %

Average loans

     4.32       4.31       4.39       4.62       4.43  

Average securities

     1.08       1.01       1.03       1.06       1.39  

Average other interest–earning assets

     0.17       0.13       0.15       0.18       0.19  

Total average interest–bearing liabilities

     0.25       0.26       0.25       0.35       0.55  

Average interest–bearing deposits

     0.18       0.20       0.25       0.35       0.55  

Average cost of total deposits

     0.14       0.16       0.19       0.27       0.42  

Average cost of retail and commercial deposits

     0.18       0.19       0.24       0.33       0.49  

Average cost of wholesale deposits, borrowings and Subordinated Notes

     3.08       3.02       1.54       1.85       2.21  

Average cost of funds

     0.19       0.20       0.19       0.27       0.42  

Net interest rate spread

     2.68       2.67       2.73       2.92       2.69  

Net interest margin

     2.75       2.75       2.81       3.03       2.85  

 

(1)

Annualized

 

Page 6
 
BANKFINANCIAL CORPORATION
SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA
Latest Five Quarters

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

 

      2021       2020  
   

IIIQ

    

IIQ

    

IQ

    

IVQ

    

IIIQ

  

CAPITAL RATIOS

                                        

BankFinancial Corporation (1)

                                        

Equity to total assets (end of period)

     9.53 %     10.05 %     10.58 %     10.83 %     10.74 %

Tangible equity to tangible total assets (end of period)

     9.53       10.05       10.58       10.83       10.74  

Risk–based total capital ratio

     19.22       21.16       20.10       20.07       18.68  

Common Tier 1 (CET1)

     16.44       18.19       19.26       19.20       17.84  

Risk–based tier 1 capital ratio

     16.44       18.19       19.26       19.20       17.84  

Tier 1 leverage ratio

     9.45       10.05       10.67       10.79       10.66  

Tier 1 capital

   $ 156,632     $ 164,862     $ 169,768     $ 171,240     $ 170,271  

BankFinancial, NA (2)

                                        

Risk–based total capital ratio

     18.11 %     18.92 %     19.23 %     18.84 %     17.80 %

Common Tier 1 (CET1)

     17.39       18.17       18.39       17.97       16.96  

Risk–based tier 1 capital ratio

     17.39       18.17       18.39       17.97       16.96  

Tier 1 leverage ratio

     10.00       10.03       10.19       10.10       10.13  

Tier 1 capital

   $ 165,537     $ 164,471     $ 162,059     $ 160,236     $ 161,770  
                                         

COMMON STOCK AND DIVIDENDS

                                        

Stock Prices:

                                        

Close

   $ 11.48     $ 11.44     $ 10.32     $ 8.78     $ 7.22  

High

     12.79       11.96       11.23       9.10       8.70  

Low

     10.62       10.04       8.48       7.14       6.81  

Common shares outstanding

     13,374,133       14,118,720       14,623,659       14,769,765       14,824,628  

Book value per share

   $ 11.83     $ 11.79     $ 11.72     $ 11.71     $ 11.63  

Tangible book value per share

   $ 11.83     $ 11.79     $ 11.72     $ 11.71     $ 11.63  

Cash dividends declared on common stock

   $ 0.10     $ 0.10     $ 0.10     $ 0.10     $ 0.10  

Dividend payout ratio

     83.58 %     75.10 %     100.29 %     60.43 %     76.13 %

Stock repurchases

   $ 8,503     $ 5,457     $ 1,488     $ 416     $ 518  

Stock repurchases – shares

     744,587       504,939       146,106       54,863       66,000  
                                         

EARNINGS PER SHARE COMPUTATIONS

                                        

Net income

   $ 1,644     $ 1,926     $ 1,469     $ 2,445     $ 1,948  

Weighted average basic and dilutive common shares outstanding

     13,722,333       14,433,748       14,723,769       14,783,042       14,842,150  

Basic and diluted earnings per common share

   $ 0.12     $ 0.13     $ 0.10     $ 0.17     $ 0.13  

 

(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%. The Community Bank Leverage Ratio is equal to the Bank's Tier 1 Leverage Ratio.  Other BankFinancial, NA capital data is included for informational purposes only.  

 

 
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