Form 8-K

 

 

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): March 2, 2009

 

 

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.)

 

15W060 North Frontage Road, Burr Ridge, Illinois   60527
(Address of Principal Executive Offices)   (Zip Code)

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

Not Applicable

(Former name or former address, 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))

 

 

 


Item 7.01. Regulation FD Disclosure

BankFinancial Corporation (Nasdaq – BFIN) will participate in the Sandler O’Neill & Partners 2009 West Coast Financial Services Conference to be held on Tuesday, March 3, 2009 BankFinancial’s Chairman and Chief Executive Officer, F. Morgan Gasior, is scheduled to present at 4:35 p.m. Pacific Time (6:35 p.m. Central Time) on Tuesday, March 3, 2009. The slides for the presentation are attached as Exhibit 99.1 and the information set forth therein is incorporated herein by reference and constitutes a part of this report.

The information in this Current Report on Form 8-K, including the attached exhibit, is being furnished to the Securities and Exchange Commission and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended. Furthermore, the information contained in this Current Report on Form 8-K shall not be deemed to be incorporated by reference into any registration statement or other document filed with the Securities and Exchange Commission by the Company.

 

Item 9.01. Financial Statements and Exhibits.

 

  (a) Not Applicable.

 

  (b) Not Applicable.

 

  (c) Exhibits.

 

Exhibit No.

 

Description

99.1   Slide Presentation dated March 3, 2009

 

2


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
Date: March 2, 2009     By:  

/s/    F. Morgan Gasior

        F. Morgan Gasior
       

Chairman of the Board,

Chief Executive Officer and President

 

3

Slide Presentation
Sandler O’Neill & Partners, L.P.
2009 West Coast Financial Services Conference
March 3, 2009
F. Morgan Gasior
Chief Executive Officer
Exhibit 99.1


Safe Harbor Provisions of the Private Litigation
Reform Act of 1995
Certain statements made and information contained in this presentation may constitute "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995. When used in this presentation, the words "may,"
"will,"
"should,"
"would,"
"anticipate,"
"estimate,"
"expect,"
"plan,"
"believe,"
"intend,"
and
similar
expressions
identify
forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements to be materially different from the results,
performance or achievements expressed or implied by such forward-looking statements.  Such factors include, among
others,
the
following
without
limitation:
general,
regional,
and
local
economic
conditions
and
their
effect
on
interest
rates,
the company and its customers; credit risks and risks from concentrations (geographic and by industry) within the loan
portfolio; changes in regulations or accounting policies affecting financial institutions; the costs and effects of litigation and
of unexpected or adverse outcomes of such litigation; technological changes; acquisitions and integration of acquired
business; the failure of assumptions underlying the establishment of reserves for loan losses and estimations of values of
collateral and various financial assets and liabilities; the outcome of efforts to manage interest rate or liquidity risk;
competition; and acts of war or terrorism.  Investors are urged to carefully review and consider the various disclosures
made by BankFinancial Corporation in its periodic reports filed with the Securities and Exchange Commission, including
the risk factors and other information disclosed in BankFinancial Corporation’s Annual Report on Form 10-K for the most
recently ended fiscal year.  Copies of these filings are available at no cost on the SEC's web site at http://www.sec.gov or
on BankFinancial’s web site at www.bankfinancial.com.  The Company undertakes no obligation to release revisions to
these forward-looking statements or to reflect events or conditions occurring after the date of this presentation.


Focused Metropolitan Chicago Community Bank
Total Assets
$1.6 billion
Total Loans
$1.3 billion
Total Deposits
$1.1 billion
Market Capitalization
$221 million
Equity
$267 million
Ticker Symbol
BFIN
Banking Offices
18
Express Branch Facilities   3  (1 opened in 1Q09)
Customers
64,743
Communities Served
471
Financial data as of 12/31/08
Branch data as of March 2009


Diverse Commercial Lending: Strong Credit Quality
Multi-Family (23.84%)
Nonresidential (26.72%)
Construction (3.87%)
Commercial Leases (13.72%)
Commercial Loans (6.05%)
Home Equity Line of Credit (6.10%)
Consumer & Other (0.53%)
Residential (19.17%)
23.84%
26.72%
19.17%
3.87%
6.05%
13.72%
0.53%
6.10%
74% Loans to Commercial Borrowers
Stable Illinois / Midwestern Geographic
Concentration and Strong National Corporate
Lessees
Dedicated Internal Commercial Loan
Origination Capability
1.07% Non-Performing Loans to Total Loans
1
Expressed as % of total 2008 Commercial Loan Originations.
Regional Commercial Banking:
49%
Commercial Leasing:                  
38%
Wholesale Loans:                         
13%
1
1
1


DDA (10.20%)
NOW (26.71%)
Savings (8.86%)
Money Market (19.23%)
Retail CD (31.76%)
Wholesale & Municipal CDs (3.24%)
26.71%
8.86%
19.23%
31.76%
3.24%
10.20%
Core Deposits: Combining Tradition & Technology
65% Transaction and Savings Deposits
3% Wholesale & Municipal CDs
Traditional Service Consistency Supplemented
by Telephone & Online Banking Service
Convenience
Targeted Deposit Marketing Based on Customer
Relationships and Proximity to Established
Branch Locations
Emphasis on Customer Linkage Via Technology
2
Online Banking Participation Expressed as a % of Total Customers by Category.
Personal / Household:                        26%
Commercial / Cash Management:    24%
2
2


NIM & Capital Management: Strength & Opportunity
Strong Capital Position
Multiple Sources of Shareholder Returns
Proven Acquisition Integration Capability
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
IVQ 2007
IVQ 2008
Tangible Equity to Tangible Total Assets
Equity to Total Assets
First Dividend in 2006; Raised Dividend in 2007
$76 million in total dividends and shareholder
repurchases as of 12/31/08
Success National Bank -
2001
University National Bank -
2006
4.25%
4.00%
3.75%
3.50%
3.25%
3.00%
2.75%
2.50%


Loans & Leases
Focus growth in targeted assets with favorable risk / return profiles.
Multi-Family Loans
Commercial Leases
Maintain consistent credit underwriting standards, adjusted for economic and local market
conditions.
Evaluate continued gradual diversification of multi-family lending into stable geographic markets
with advantageous pricing and underwriting characteristics and within reasonable travel distance
from Chicago.
Evaluate retained FNMA securitization to further reduce credit risk exposure of multi-family loan
portfolio.
Core Deposits
Focus growth in insured core deposits and certificates of deposit, particularly commercial deposits.
Enhance service delivery and new customer development via Express Branch facility deployment.
Strategic Focus –
Organic Growth


Strategic Focus –
Mergers & Acquisitions
Regulatory-Sourced Transactions
Unlikely to participate in resolution which requires the assumption of material levels of
non-performing assets or material increases to residential or construction loans.
Willing
to
participate
in
“Clean
Purchase
&
Assumption”
transactions
in
our
primary
Chicago
greater metropolitan area or
in selected metropolitan areas with more favorable market
characteristics.
Market Transactions
Continue
to
be
interested
in
institutions
with
strong
core
deposit
franchises
and
acceptable
asset
quality characteristics.
Institutions may be located in our primary greater Chicago metropolitan area.
Would consider institutions in selected metropolitan areas within a reasonable travel distance from
Chicago and with more favorable market characteristics.
Would consider the acquisition of small finance company or insurance agencies complementary to
our multi-family and other smaller commercial customers.
Investment Criteria
Maintain consistent historical approach to evaluation of return on investment metrics, including
earnings accretion and tangible book value dilution standards.


Long-Term Objectives
Maintain strong asset quality, liquidity and capital levels.
Deploy excess tangible capital consistent with achieving market return
on equity.
Interim
focus
on
achieving
market
return
on
average
assets
while
capital
levels
remain
elevated.
Continue to optimize customer service and operational effectiveness for greater
operating efficiencies.


Stock Performance Since Conversion
0
20
40
60
80
100
120
140
BFIN
Russell 2000
America's Community Banks
June 24, 2005 = 100


Helping Our Customers, Communities
and Stockholders Do More Towards
Reaching Their Financial Goals