SEC Filing | BankFinancial Corporation

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bfin20220303_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): May 3, 2022

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 first quarter and three months ended March 31, 2022 in a conference call and webcast for stockholders and analysts on Wednesday, May 4, 2022 at 10:30 a.m. Chicago, Illinois Time.

The conference call may be accessed by calling (844) 413-1780 using participant passcode 7974997. The conference call will be simultaneously webcast at www.bankfinancial.com, “Investor Relations” page.

Item 8.01. Other Events.

On May 3, 2022, the Company issued a press release announcing the filing of its Quarterly Report on Form 10-Q for the first quarter ended March 31, 2022 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
	99.1	Press Release dated May 3, 2022
	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:	May 3, 2022	By:	/s/ F. Morgan Gasior
			F. Morgan Gasior
			Chairman of the Board, Chief Executive Officer and President

ex_343110.htm

Exhibit 99.1

https://cdn.kscope.io/cf346efe474674d1172754f36702253c-bfinlogo.jpg

FOR IMMEDIATE RELEASE

BankFinancial Corporation Reports Financial Results for the First Quarter 2022 and

Will Host Conference Call and Webcast on Wednesday, May 4, 2022

Burr Ridge, Illinois - (May 3, 2022) BankFinancial Corporation (Nasdaq – BFIN) (the “BankFinancial”) filed its Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 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 March 31, 2022 of $1.3 million, or $0.10 per common share, compared to net income of $1.5 million, or $0.10 per common share, for the three months ended March 31, 2021. At March 31, 2022, BankFinancial had total assets of $1.660 billion, total loans of $1.055 billion, total deposits of $1.462 billion and stockholders' equity of $154 million.

Total net loans increased by $10.9 million (1.0%) during the quarter ended March 31, 2022. Total commercial loans and leases increased by $6.7 million (1.4%), net of $2.4 million in SBA Paycheck Protection Program payments, due to stronger originations of commercial finance transactions and higher utilization of healthcare lines of credit. Total commercial equipment finance portfolio balances decreased by $7.7 million (1.9%) as supply-chain and labor availability delayed new equipment finance transactions expected to close in the first quarter of 2022. Loan growth materially accelerated in April 2022 due to the funding of commercial loan and lease transactions originally scheduled for March 2022.

Total deposits decreased by $26.8 million during the three months ended March 31, 2022, primarily due to a $15.0 million decrease in public-fund deposit accounts and seasonal activity for retail and small business depositors.

The Company’s ratio of nonperforming loans to total loans was 0.18% at March 31, 2022, compared to 0.07% as of December 31, 2021. Our allowance for loan losses was 0.64% of total loans as of March 31, 2022.

The Company’s capital position remained strong, with a Tier 1 leverage ratio of 9.32% at March 31, 2022. The Company repurchased 50,000 of its common shares during the quarter ended March 31, 2022. The Company’s tangible book value per common share decreased to $11.68 per share (1.8%) at March 31, 2022 primarily due to the impact of higher interest rates on the Company’s U.S. Treasury Note portfolio value.

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 first quarter 2022 results in a conference call and webcast for stockholders and analysts on Wednesday, May 4, 2022 at 10:30 a.m. Chicago, Illinois Time. The conference call may be accessed by calling (844) 413-1780 using participant passcode 7974997. 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 18, 2022 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: 630-425-5568		Gregg T. Adams President – Marketing & Sales BankFinancial, NA Telephone: 630-425-5877

ex_343111.htm

Exhibit 99.2

BANKFINANCIAL CORPORATION

First QUARTER 2022

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)

	2022			2021
	IQ			IVQ			IIIQ			IIQ			IQ
PERFORMANCE MEASUREMENTS
Return on assets (ratio of net income to average total assets) ⁽¹⁾		0.30	%		0.57	%		0.40	%		0.47	%		0.37	%
Return on equity (ratio of net income to average equity) ⁽¹⁾		3.24			6.00			4.05			4.52			3.40
Net interest rate spread ⁽¹⁾		2.66			2.75			2.68			2.67			2.73
Net interest margin ⁽¹⁾		2.73			2.81			2.75			2.75			2.81
Efficiency ratio ⁽²⁾		84.20			79.50			81.96			83.94			86.05
Noninterest expense to average total assets ⁽¹⁾		2.47			2.47			2.45			2.50			2.56
Average interest–earning assets to average interest–bearing liabilities		139.03			138.57			138.97			140.97			141.49
Number of full service offices		19			19			19			19			19
Employees (full time equivalents)		206			221			224			218			220

SUMMARY STATEMENT OF FINANCIAL CONDITION
ASSETS
Cash and due from other financial institutions	$	9,722		$	9,095		$	11,432		$	12,185		$	9,567
Interest-bearing deposits in other financial institutions		391,280			493,067			517,183			523,851			489,016
Securities, at fair value		132,634			85,694			14,693			18,883			20,751
Loans receivable, net		1,055,069			1,044,207			1,047,056			1,032,159			1,028,840
Foreclosed assets, net		968			725			1,049			1,702			4,630
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		24,939			25,043			24,772			24,765			24,726
Bank-owned life insurance		19,157			19,129			19,097			19,066			19,036
Deferred taxes		3,750			2,762			2,348			2,363			2,473
Other assets		15,143			13,470			15,022			14,158			13,856
Total assets	$	1,660,152		$	1,700,682		$	1,660,142		$	1,656,622		$	1,620,385

LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits	$	1,461,605		$	1,488,431		$	1,454,389		$	1,438,574		$	1,422,037
Borrowings		5,000			5,000			5,000			5,000			4,000
Subordinated notes, net of unamortized issuance costs		19,601			19,590			19,578			19,568			—
Other liabilities		20,051			30,195			23,002			27,044			22,915
Total liabilities		1,506,257			1,543,216			1,501,969			1,490,186			1,448,952
Stockholders’ equity		153,895			157,466			158,173			166,436			171,433
Total liabilities and stockholders’ equity	$	1,660,152		$	1,700,682		$	1,660,142		$	1,656,622		$	1,620,385

⁽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)

	2022		2021
	IQ		IVQ			IIIQ			IIQ			IQ
SUMMARY STATEMENT OF OPERATIONS
Total interest income	$	11,418	$	12,073		$	11,748		$	11,497		$	11,248
Total interest expense		643		686			718			722			668
Net interest income		10,775		11,387			11,030			10,775			10,580
Provision for (recovery of) loan losses		276		(221	)		(6	)		(678	)		(335	)
Net interest income after provision for (recovery of) loan losses		10,499		11,608			11,036			11,453			10,915
Noninterest income		1,444		1,631			1,374			1,426			1,258
Noninterest expense		10,289		10,349			10,166			10,241			10,187
Income before income tax		1,654		2,890			2,244			2,638			1,986
Income tax expense ⁽¹⁾		386		519			600			712			517
Net income	$	1,268	$	2,371		$	1,644		$	1,926		$	1,469
Basic and diluted earnings per common share	$	0.10	$	0.18		$	0.12		$	0.13		$	0.10

NONINTEREST INCOME AND EXPENSE
Noninterest Income
Deposit service charges and fees	$	781	$	832		$	814		$	800		$	738
Loan servicing fees		101		395			140			141			55
Mortgage brokerage and banking fees		8		2			16			5			12
Trust insurance commissions and annuities income		338		256			263			283			334
Earnings on bank-owned life insurance		28		32			31			30			21
Other		188		114			110			167			98
Total noninterest income	$	1,444	$	1,631		$	1,374		$	1,426		$	1,258

Noninterest Expense
Compensation and benefits	$	5,480	$	5,827		$	5,782		$	5,558		$	5,471
Office occupancy and equipment		2,134		1,711			1,824			1,892			2,097
Advertising and public relations		142		195			157			187			203
Information technology		851		871			779			723			710
Professional fees		373		312			311			343			370
Supplies, telephone, and postage		347		391			382			442			400
Nonperforming asset management		17		(3	)		6			8			41
FDIC insurance premiums		116		133			125			114			106
Other		829		912			800			974			789
Total noninterest expense	$	10,289	$	10,349		$	10,166		$	10,241		$	10,187

⁽¹⁾	Income tax expense for the quarter ended December 31, 2021 includes a $200,000 valuation reserve recovery 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)

	2022			2021
	IQ			IVQ			IIIQ			IIQ			IQ
LOANS
One–to–four family residential real estate	$	28,221		$	30,133		$	31,829		$	34,762		$	38,236
Multi–family mortgage		435,522			426,136			435,634			434,635			440,824
Nonresidential real estate		99,817			103,172			100,469			100,008			112,154
Construction and land		—			—			499			499			499
Commercial loans and leases		496,245			489,512			483,705			467,461			442,706
Consumer		1,572			1,685			1,760			1,796			1,756
		1,061,377			1,050,638			1,053,896			1,039,161			1,036,175
Net deferred loan origination fees and costs		478			284			55			(145	)		60
Allowance for loan losses		(6,786	)		(6,715	)		(6,895	)		(6,857	)		(7,395	)
Loans, net	$	1,055,069		$	1,044,207		$	1,047,056		$	1,032,159		$	1,028,840

LOAN ORIGINATIONS ⁽¹⁾
One–to–four family residential real estate	$	348		$	494		$	332		$	349		$	403
Multi–family mortgage		35,661			38,265			33,296			25,486			20,680
Nonresidential real estate		5,837			6,522			2,988			581			5,046
Commercial loans		184,290			195,228			125,404			83,548			77,072
Equipment finance		30,821			84,072			51,890			57,077			67,913
Consumer		496			572			584			652			605
	$	257,453		$	325,153		$	214,494		$	167,693		$	171,719
Weighted average interest rate		4.56	%		4.07	%		4.33	%		4.20	%		3.87	%

LOAN PAYMENTS and PAYOFFS ⁽²⁾
One–to–four family residential real estate	$	2,324		$	2,266		$	3,364		$	3,870		$	3,897
Multi–family mortgage		25,598			47,882			32,362			31,554			32,737
Nonresidential real estate		8,823			3,760			2,613			12,643			1,627
Construction and land		—			499			—			—			—
Commercial loans		170,543			202,524			111,666			83,991			70,531
Equipment finance		38,701			71,088			49,241			31,856			31,547
Consumer		587			656			610			622			634
	$	246,576		$	328,675		$	199,856		$	164,536		$	140,973
Weighted average interest rate		4.42	%		4.26	%		4.38	%		4.44	%		4.27	%

⁽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)

	2022			2021
	IQ			IVQ			IIIQ			IIQ			IQ
CREDIT QUALITY:
Nonperforming Assets:
Nonaccrual loans:
One–to–four family residential real estate	$	330		$	367		$	341		$	588		$	384
Nonresidential real estate		—			297			296			296			296
Equipment finance		101			76			9			—			—
		431			740			646			884			680

Loans past due over 90 days, still accruing		1,531			10			—			—			—

Foreclosed assets, net
Other real estate owned:
One–to–four family residential real estate		—			—			—			38			285
Nonresidential real estate		274			—			—			—			—
Other foreclosed assets		694			725			1,049			1,664			4,345
		968			725			1,049			1,702			4,630

Nonperforming assets	$	2,930		$	1,475		$	1,695		$	2,586		$	5,310

Asset Quality Ratios
Nonperforming assets to total assets		0.18	%		0.09	%		0.10	%		0.16	%		0.33	%
Nonperforming loans to total loans ⁽¹⁾		0.18			0.07			0.06			0.09			0.07
Nonperforming commercial-related loans to total commercial-related loans ⁽²⁾		0.16			0.04			0.03			0.03			0.03
Nonperforming residential and consumer loans to total residential and consumer loans		1.11			1.15			1.02			1.61			0.96
Allowance for loan losses to nonperforming loans		345.87			895.33			1,067.34			775.68			1,087.50

Concentrations of Credit
Commercial real estate for FFIEC concentration limits	$	514,434		$	508,298		$	514,777		$	513,165		$	528,906
% FFIEC total capital		295.56	%		294.98	%		298.54	%		299.52	%		312.12	%

Multi–family mortgage loans - 50% risk based capital qualified (included above)	$	153,558		$	67,548		$	73,776		$	130,984		$	207,531
% FFIEC total capital		88.22	%		39.20	%		42.79	%		76.45	%		122.47	%

⁽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)

	2022			2021
	IQ			IVQ			IIIQ			IIQ			IQ
SUBSTANDARD PERFORMING LOANS
One–to–four family residential real estate	$	433		$	476		$	509		$	390		$	628
Nonresidential real estate		—			—			—			—			82
Commercial loans and leases		63			—			1,191			—			11
Consumer		3			6			7			4			4
	$	499		$	482		$	1,707		$	394		$	725

ALLOWANCE FOR LOAN LOSSES
Beginning balance	$	6,715		$	6,895		$	6,857		$	7,395		$	7,751
Charge–offs:
One-to-four family residential real estate		(4	)		(3	)		—			—			—
Nonresidential real estate		(192	)		(7	)		—			—			—
Commercial loans and leases		—			(7	)		—			—			(86	)
Consumer		(18	)		(12	)		(2	)		(6	)		(9	)
		(214	)		(29	)		(2	)		(6	)		(95	)
Recoveries:
One-to-four family residential real estate		2			64			38			49			60
Multi-family mortgage		5			5			7			10			11
Commercial loans and leases		1			1			1			87			1
Consumer		1			—			—			—			2
		9			70			46			146			74

Net (charge–offs) recoveries		(205	)		41			44			140			(21	)
Provision for (recovery of) loan losses		276			(221	)		(6	)		(678	)		(335	)
Ending balance	$	6,786		$	6,715		$	6,895		$	6,857		$	7,395

Allowance for loan losses to total loans		0.64	%		0.64	%		0.65	%		0.66	%		0.71	%
Net (charge–offs) recoveries ratio ⁽¹⁾		(0.08	)		0.02			0.02			0.05			(0.01	)

⁽¹⁾	Annualized

Page 5

BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

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

	2022			2021
	IQ			IVQ			IIIQ			IIQ			IQ
DEPOSITS
Noninterest–bearing demand	$	339,504		$	342,185		$	328,182		$	325,294		$	334,463
Interest–bearing NOW accounts		384,665			404,326			392,273			368,902			341,517
Money market accounts		330,094			333,369			319,857			322,753			318,449
Savings deposits		207,201			201,633			196,810			196,701			191,018
Certificates of deposit - retail		198,911			203,468			213,320			220,482			230,407
Certificates of deposit - wholesale		1,230			3,450			3,947			4,442			6,183
	$	1,461,605		$	1,488,431		$	1,454,389		$	1,438,574		$	1,422,037

SELECTED AVERAGE BALANCES
Total average assets	$	1,666,086		$	1,673,813		$	1,657,862		$	1,641,003		$	1,592,419
Total average interest–earning assets		1,601,040			1,608,652			1,592,482			1,573,429			1,528,472
Average loans		1,050,668			1,044,246			1,045,586			1,041,696			1,010,682
Average securities		116,360			32,542			16,915			20,735			21,207
Average stock in FHLB & FRB		7,490			7,490			7,490			7,490			7,490
Average other interest–earning assets		426,522			524,374			522,491			503,508			489,093
Total average interest–bearing liabilities		1,151,564			1,160,863			1,145,887			1,116,105			1,080,271
Average interest–bearing deposits		1,126,969			1,136,279			1,121,314			1,094,589			1,076,271
Average borrowings and Subordinated notes		24,595			24,584			24,573			21,516			4,000
Average stockholders’ equity		156,492			157,961			162,361			170,509			172,841

SELECTED YIELDS AND COST OF FUNDS ⁽¹⁾
Total average interest–earning assets		2.89	%		2.98	%		2.93	%		2.93	%		2.98	%
Average loans		4.17			4.44			4.32			4.31			4.39
Average securities		1.04			0.98			1.08			1.01			1.03
Average other interest–earning assets		0.21			0.17			0.17			0.13			0.15
Total average interest–bearing liabilities		0.23			0.23			0.25			0.26			0.25
Average interest–bearing deposits		0.16			0.17			0.18			0.20			0.25
Average cost of total deposits		0.12			0.13			0.14			0.16			0.19
Average cost of retail and commercial deposits		0.15			0.16			0.18			0.19			0.24
Average cost of wholesale deposits, borrowings and Subordinated notes		3.16			3.10			3.08			3.02			1.54
Average cost of funds		0.18			0.18			0.19			0.20			0.19
Net interest rate spread		2.66			2.75			2.68			2.67			2.73
Net interest margin		2.73			2.81			2.75			2.75			2.81

⁽¹⁾	Annualized

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BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

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

	2022			2021
	IQ			IVQ			IIIQ			IIQ			IQ
CAPITAL RATIOS
BankFinancial Corporation ⁽¹⁾
Equity to total assets (end of period)		9.27	%		9.26	%		9.53	%		10.05	%		10.58	%
Tangible equity to tangible total assets (end of period)		9.27			9.26			9.53			10.05			10.58
Risk–based total capital ratio		19.82			19.47			19.22			21.16			20.10
Common Tier 1 (CET1)		16.94			16.66			16.44			18.19			19.26
Risk–based tier 1 capital ratio		16.94			16.66			16.44			18.19			19.26
Tier 1 leverage ratio		9.32			9.32			9.45			10.05			10.67
Tier 1 capital	$	155,164		$	155,818		$	156,632		$	164,862		$	169,768
BankFinancial, NA ⁽²⁾
Risk–based total capital ratio		19.01	%		18.43	%		18.11	%		18.92	%		19.23	%
Common Tier 1 (CET1)		18.27			17.71			17.39			18.17			18.39
Risk–based tier 1 capital ratio		18.27			17.71			17.39			18.17			18.39
Tier 1 leverage ratio		10.05			9.91			10.00			10.03			10.19
Tier 1 capital	$	167,268		$	165,599		$	165,537		$	164,471		$	162,059

COMMON STOCK AND DIVIDENDS
Stock Prices:
Close	$	10.36		$	10.67		$	11.48		$	11.44		$	10.32
High		11.27			11.81			12.79			11.96			11.23
Low		10.30			10.33			10.62			10.04			8.48
Common shares outstanding		13,178,485			13,228,485			13,374,133			14,118,720			14,623,659
Book value per share	$	11.68		$	11.90		$	11.83		$	11.79		$	11.72
Tangible book value per share	$	11.68		$	11.90		$	11.83		$	11.79		$	11.72
Cash dividends declared on common stock	$	0.10		$	0.10		$	0.10		$	0.10		$	0.10
Dividend payout ratio		104.33	%		55.88	%		83.58	%		75.10	%		100.29	%
Stock repurchases	$	539		$	1,673		$	8,503		$	5,457		$	1,488
Stock repurchases – shares		50,000			145,648			744,587			504,939			146,106

EARNINGS PER SHARE COMPUTATIONS
Net income	$	1,268		$	2,371		$	1,644		$	1,926		$	1,469
Weighted average basic and dilutive common shares outstanding		13,204,041			13,264,374			13,722,333			14,433,748			14,723,769
Basic and diluted earnings per common share	$	0.10		$	0.18		$	0.12		$	0.13		$	0.10

⁽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 9.00%. 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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