bfin20200514_8k.htm
false 0001303942 0001303942 2020-07-29 2020-07-29
 
 
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): July 29, 2020
 
 
 
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: (800894-6900
 
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 second quarter and six months ended June 30, 2020 in a conference call and webcast for stockholders and analysts on Friday, July 31, 2020 at 9:30 a.m. Chicago, Illinois Time.
 
The conference call may be accessed by calling (844) 413-1780 using participant passcode 8098389. The conference call will be simultaneously webcast at www.bankfinancial.com, “Investor Relations” page.
 
Item 8.01. Other Events.
 
On July 29, 2020, the Company issued a press release announcing the filing of its Quarterly Report on Form 10-Q for the quarter ended June 30, 2020 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 July 29, 2020
 
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:
July 29, 2020
 
By:
/s/ F. Morgan Gasior
 
 
 
 
 
F. Morgan Gasior
 
 
 
 
 
Chairman of the Board, Chief Executive Officer and President
 
 
ex_186771.htm

 

Exhibit 99.1

 

 

FOR IMMEDIATE RELEASE

 

BankFinancial Corporation Reports Financial Results for the Second Quarter 2020 and

Will Host Conference Call and Webcast on Friday, July 31, 2020

 

Burr Ridge, Illinois - (July 29, 2020) BankFinancial Corporation (Nasdaq – BFIN) (“BankFinancial” ) filed its Quarterly Report on Form 10-Q for the quarter ended June 30, 2020 and a Quarterly Financial and Statistical Supplement on Form 8-K with the U.S. Securities and Exchange Commission (the “SEC”) today.

 

BankFinancial reported net income for the three months ended June 30, 2020 of $ 2.4 million, or $ 0.16 per common share, compared to net income of $ 807,000, or $ 0.05 per common share, for the three months ended June 30, 2019. BankFinancial also reported net income of $ 4.8 million, or $ 0.32 per common share, for the six months ended June 30, 2020, compared to net income of $ 4.4 million, or $ 0.28 per common share, for the six months ended June 30, 2019.  At June 30, 2020, BankFinancial had total assets of $ 1.593 billion, total loans of $ 1.082 billion, total deposits of $ 1.388 billion and stockholders' equity of $ 172 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 second quarter 2020 results in a conference call and webcast for stockholders and analysts on Friday, July 31, 2020 at 9:30 a.m. Chicago, Illinois Time.  The conference call may be accessed by calling (844) 413-1780 using participant passcode 8098389. 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 Friday, August 14, 2020 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

 

Second QUARTER 2020

 

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)

 

   

2020

   

2019

 
   

IIQ

   

IQ

   

IVQ

   

IIIQ

   

IIQ

 

PERFORMANCE MEASUREMENTS

                                       

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

    0.61 %     0.66 %     0.91 %     1.05 %     0.21 %

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

    5.42       5.52       7.71       9.04       1.84  

Net interest rate spread (1)

    2.90       3.19       3.23       3.38       3.30  

Net interest margin (1)

    3.09       3.44       3.50       3.67       3.60  

Efficiency ratio (2)

    74.06       72.03       66.98       64.62       65.19  

Noninterest expense to average total assets (1)

    2.40       2.63       2.56       2.54       2.48  

Average interest–earning assets to average interest–bearing liabilities

    138.21       132.68       132.47       131.18       131.66  

Number of full service offices

    19       19       19       19       19  

Employees (full time equivalents)

    199       226       222       223       231  
                                         

SUMMARY STATEMENT OF FINANCIAL CONDITION

                                       

ASSETS

                                       

Cash and due from other financial institutions

  $ 13,826     $ 14,652     $ 9,785     $ 13,074     $ 13,998  

Interest-bearing deposits in other financial institutions

    370,939       155,286       180,540       127,719       89,609  

Securities, at fair value

    59,437       63,853       60,193       65,440       87,080  

Loans receivable, net

    1,081,798       1,147,628       1,168,008       1,213,948       1,267,454  

Other real estate owned, net

    143       110       186       269       497  

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

    24,323       24,202       24,346       24,598       24,923  

Bank-owned life insurance

    18,986       18,977       18,945       18,914       18,877  

Deferred taxes

    3,615       3,644       3,873       4,556       4,816  

Other assets

    12,572       14,440       14,649       15,974       19,178  

Total assets

  $ 1,593,129     $ 1,450,282     $ 1,488,015     $ 1,491,982     $ 1,533,922  
                                         

LIABILITIES AND STOCKHOLDERS’ EQUITY

                                       

Deposits

  $ 1,388,155     $ 1,253,751     $ 1,284,757     $ 1,288,825     $ 1,330,207  

Borrowings

    4,000             61       1,253       798  

Other liabilities

    28,520       23,536       28,825       28,037       31,426  

Total liabilities

    1,420,675       1,277,287       1,313,643       1,318,115       1,362,431  

Stockholders’ equity

    172,454       172,995       174,372       173,867       171,491  

Total liabilities and stockholders’ equity

  $ 1,593,129     $ 1,450,282     $ 1,488,015     $ 1,491,982     $ 1,533,922  

 

(1)

Annualized

(2)

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

 

Page 2

BANKFINANCIAL CORPORATION
SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA
Latest Five Quarters

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

 

 

   

2020

   

2019

 
   

IIQ

   

IQ

   

IVQ

   

IIIQ

   

IIQ

 

SUMMARY STATEMENT OF OPERATIONS

                                       

Total interest income

  $ 13,194     $ 14,653     $ 15,732     $ 16,628     $ 16,522  

Total interest expense

    1,869       2,684       3,105       3,386       3,419  

Net interest income

    11,325       11,969       12,627       13,242       13,103  

Provision for (recovery of) loan losses

    42       471       89       (134 )     3,957  
Net interest income after provision for (recovery of) loan losses     11,283       11,498       12,538       13,376       9,146  

Noninterest income

    1,163       1,398       1,648       1,474       1,426  

Noninterest expense

    9,249       9,628       9,562       9,509       9,472  

Income before income tax

    3,197       3,268       4,624       5,341       1,100  

Income tax expense

    845       850       1,234       1,417       293  

Net income

  $ 2,352     $ 2,418     $ 3,390     $ 3,924     $ 807  

Basic and diluted earnings per common share

  $ 0.16     $ 0.16     $ 0.22     $ 0.26     $ 0.05  
                                         

NONINTEREST INCOME AND EXPENSE

                                       

Noninterest Income

                                       

Deposit service charges and fees

  $ 736     $ 887     $ 957     $ 983     $ 974  

Loan servicing fees

    82       63       273       99       56  

Mortgage brokerage and banking fees

    11       29       72       28       21  

Loss on disposal of other assets

          (2 )     (25 )            

Trust insurance commissions and annuities income

    224       282       217       198       224  

Earnings on bank-owned life insurance

    9       32       31       37       38  

Other

    101       107       123       129       113  
Total noninterest income   $ 1,163     $ 1,398     $ 1,648     $ 1,474     $ 1,426  
                                         

Noninterest Expense

                                       

Compensation and benefits

  $ 5,168     $ 5,518     $ 5,138     $ 5,218     $ 5,207  

Office occupancy and equipment

    1,723       1,800       1,727       1,879       1,624  

Advertising and public relations

    118       152       169       182       145  

Information technology

    808       864       921       892       753  

Professional fees

    289       235       359       213       237  

Supplies, telephone, and postage

    284       303       291       312       322  

Amortization of intangibles

    7       14       14       13       14  

Nonperforming asset management

    57       40       (24 )     17       58  

Operations of other real estate owned, net

    7       (17 )     30       19       47  

FDIC insurance premiums

    102       34             (127 )     146  

Other

    686       685       937       891       919  

Total noninterest expense

  $ 9,249     $ 9,628     $ 9,562     $ 9,509     $ 9,472  

 

Page 3

BANKFINANCIAL CORPORATION
SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA
Latest Five Quarters

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

 

    2020     2019  
   

IIQ

   

IQ

   

IVQ

   

IIIQ

   

IIQ

 

LOANS

                                       

One–to–four family residential real estate

  $ 48,928     $ 52,849     $ 55,750     $ 60,757     $ 64,192  

Multi–family mortgage

    536,619       542,421       563,750       577,656       619,898  

Nonresidential real estate

    127,560       133,432       134,674       140,410       145,416  

Construction and land

                      88       117  

Commercial loans

    126,609       158,049       145,714       163,846       153,709  

Commercial leases

    247,997       266,063       272,629       275,800       289,107  

Consumer

    1,783       2,078       2,211       2,052       1,861  
      1,089,496       1,154,892       1,174,728       1,220,609       1,274,300  

Net deferred loan origination costs

    458       848       912       942       978  

Allowance for loan losses

    (8,156 )     (8,112 )     (7,632 )     (7,603 )     (7,824 )

Loans, net

  $ 1,081,798     $ 1,147,628     $ 1,168,008     $ 1,213,948     $ 1,267,454  
                                         

LOAN ORIGINATIONS (1)

                                       

One–to–four family residential real estate

  $ 667     $ 659     $ 437     $ 721     $ 836  

Multi–family mortgage

    21,546       17,004       19,848       6,960       9,258  

Nonresidential real estate

    855       5,410       174       387       4,100  

Commercial loans

    110,080       172,837       134,330       141,314       153,537  

Commercial leases

    18,036       24,764       33,183       30,998       34,959  

Consumer

    489       883       1,018       852       842  
    $ 151,673     $ 221,557     $ 188,990     $ 181,232     $ 203,532  

Weighted average interest rate

    4.13 %     4.55 %     5.41 %     5.75 %     6.27 %
                                         

LOAN PAYMENTS and PAYOFFS (2)

                                       

One–to–four family residential real estate

  $ 4,586     $ 3,511     $ 5,317     $ 4,127     $ 3,415  

Multi–family mortgage

    27,814       38,213       33,916       49,374       23,685  

Nonresidential real estate

    6,583       6,708       5,854       6,802       7,165  

Construction and land

                88       28       27  

Commercial loans

    140,568       162,048       151,432       130,208       167,352  

Commercial leases

    35,109       31,004       36,488       44,035       39,633  

Consumer

    755       989       796       703       800  
    $ 215,415     $ 242,473     $ 233,891     $ 235,277     $ 242,077  

Weighted average interest rate

    4.58 %     4.74 %     5.46 %     5.45 %     5.91 %

 

(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 4

BANKFINANCIAL CORPORATION
SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA
Latest Five Quarters

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

 

    2020     2019  
   

IIQ

   

IQ

   

IVQ

   

IIIQ

   

IIQ

 

CREDIT QUALITY:

                                       

Nonperforming Assets:

                                       

Nonaccrual loans:

                                       

One–to–four family residential real estate

  $ 662     $ 476     $ 512     $ 1,163     $ 928  

Nonresidential real estate

    288       288       288       284       2,083  

Commercial leases

    833                          

Nonaccrual loans

    1,783       764       800       1,447       3,011  
                                         

Loans past due over 90 days, still accruing - commercial leases

                47              
                                         

Other real estate owned - One–to–four family residential real estate

    143       110       186       269       497  
                                         

Nonperforming assets

  $ 1,926     $ 874     $ 1,033     $ 1,716     $ 3,508  
                                         

Asset Quality Ratios

                                       

Nonperforming assets to total assets

    0.12 %     0.06 %     0.07 %     0.12 %     0.23 %

Nonperforming loans to total loans (1)

    0.16       0.07       0.07       0.12       0.24  

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

    0.11       0.03       0.03       0.02       0.17  

Nonperforming residential and consumer loans to total residential and consumer loans

    1.31       0.87       0.88       1.85       1.40  

Allowance for loan losses to nonperforming loans

    457.43       1061.78       901.06       525.43       259.85  
                                         

Concentrations of Credit

                                       

Commercial real estate for FFIEC concentration limits

  $ 637,777     $ 648,991     $ 699,434     $ 688,887     $ 734,567  

% FFIEC total capital

    374.58 %     381.15 %     393.32 %     403.95 %     437.62 %
                                         

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

  $ 235,176     $ 281,962     $ 336,287     $ 302,648     $ 286,910  

% FFIEC total capital

    138.12 %     165.60 %     197.58 %     177.47 %     170.93 %
                                         

Commercial Leases - Investment rated

  $ 114,632     $ 124,451     $ 133,839     $ 133,049     $ 143,148  

Commercial Leases - Other

    133,365       141,612       138,790       142,751       145,959  

 

(1)

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

(2)

Commercial-related loans include Multi-family mortgage, Nonresidential, Construction and land, Commercial loans and Commercial leases.

 

Page 5

BANKFINANCIAL CORPORATION
SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA
Latest Five Quarters

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

 

    2020     2019  
   

IIQ

   

IQ

   

IVQ

   

IIIQ

   

IIQ

 

SUBSTANDARD PERFORMING LOANS

                                       

One–to–four family residential real estate

  $ 501     $ 440     $ 568     $ 577     $ 487  

Multi–family mortgage

                206       211       213  

Nonresidential real estate

    2,790       89       90       93       93  

Commercial loans

                            500  
Commercial leases     1,261       1,423       136              

Consumer

    11       9       53       3       1  
    $ 4,563     $ 1,961     $ 1,053     $ 884     $ 1,294  
                                         

ALLOWANCE FOR LOAN LOSSES

                                       

Beginning balance

  $ 8,112     $ 7,632     $ 7,603     $ 7,824     $ 8,354  

Charge–offs:

                                       

One–to–four family residential real estate

          (5 )     (105 )     (44 )     (50 )

Nonresidential real estate

                      (55 )      

Commercial loans

                            (4,443 )

Consumer

    (17 )     (13 )     (11 )     (5 )     (10 )
      (17 )     (18 )     (116 )     (104 )     (4,503 )

Recoveries:

                                       

One–to–four family residential real estate

    3       13       47       5       6  

Multi–family mortgage

    15       12       7       8       8  

Commercial loans

    1       2       2       4       2  
      19       27       56       17       16  

Net recoveries (charge–offs)

    2       9       (60 )     (87 )     (4,487 )

Provision for (recovery of) loan losses

    42       471       89       (134 )     3,957  

Ending balance

  $ 8,156     $ 8,112     $ 7,632     $ 7,603     $ 7,824  
                                         

Allowance for loan losses to total loans

    0.75 %     0.70 %     0.65 %     0.62 %     0.61 %

Net recoveries (charge–offs) ratio (1)

                (0.02 )     (0.03 )     (1.38 )

 

(1)

Annualized

 

Page 6

BANKFINANCIAL CORPORATION
SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA
Latest Five Quarters

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

 

    2020     2019  
   

IIQ

   

IQ

   

IVQ

   

IIIQ

   

IIQ

 

DEPOSITS

                                       

Noninterest–bearing demand

  $ 305,096     $ 211,142     $ 210,762     $ 208,347     $ 213,966  

Interest–bearing NOW accounts

    306,629       266,828       273,168       274,752       278,405  

Money market accounts

    268,143       247,227       245,610       237,022       246,941  

Savings deposits

    167,570       155,505       153,183       149,431       153,414  

Certificates of deposit - retail

    303,976       319,987       336,949       344,327       348,685  

Certificates of deposit - wholesale

    36,741       53,062       65,085       74,946       88,796  
    $ 1,388,155     $ 1,253,751     $ 1,284,757     $ 1,288,825     $ 1,330,207  
                                         

SELECTED AVERAGE BALANCES

                                       

Total average assets

  $ 1,541,352     $ 1,465,253     $ 1,496,379     $ 1,498,380     $ 1,529,033  

Total average interest–earning assets

    1,475,901       1,400,539       1,429,300       1,430,830       1,458,180  

Average loans

    1,116,067       1,160,197       1,189,771       1,239,774       1,297,548  

Average securities

    66,750       62,919       64,658       78,221       86,144  

Average stock in FHLB & FRB

    7,490       7,490       7,490       7,490       7,629  

Average other interest–earning assets

    285,594       169,933       167,381       105,345       66,859  

Total average interest–bearing liabilities

    1,067,854       1,055,550       1,078,940       1,090,766       1,107,540  

Average interest–bearing deposits

    1,065,480       1,055,535       1,078,537       1,089,596       1,106,439  

Average borrowings

    2,374       15       403       1,170       1,101  

Average stockholders’ equity

    173,677       175,069       175,977       173,698       175,452  
                                         

SELECTED YIELDS AND COST OF FUNDS (1):

                                       

Total average interest–earning assets

    3.60 %     4.21 %     4.37 %     4.61 %     4.54 %

Average loans

    4.57       4.72       4.82       4.92       4.76  

Average securities

    1.63       1.94       2.27       2.58       2.80  

Average other interest–earning assets

    0.24       1.54       1.94       2.50       2.63  

Total average interest–bearing liabilities

    0.70       1.02       1.14       1.23       1.24  

Average interest–bearing deposits

    0.71       1.02       1.14       1.23       1.24  

Average cost of total deposits

    0.56       0.85       0.95       1.03       1.04  

Average cost of retail and commercial deposits

    0.63       0.93       1.04       1.13       1.13  

Average cost of wholesale deposits and borrowings

    2.35       2.52       2.53       2.48       2.39  

Average cost of funds

    0.56       0.85       0.95       1.03       1.04  

Net interest rate spread

    2.90       3.19       3.23       3.38       3.30  

Net interest margin

    3.09       3.44       3.50       3.67       3.60  

 

(1)

Annualized

 

Page 7

BANKFINANCIAL CORPORATION
SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA
Latest Five Quarters

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

 

    2020     2019  
   

IIQ

   

IQ

   

IVQ

   

IIIQ

   

IIQ

 

CAPITAL RATIOS

                                       

BankFinancial Corporation (1)

                                       

Equity to total assets (end of period)

    10.82 %     11.93 %     11.72 %     11.65 %     11.18 %

Tangible equity to tangible total assets (end of period)

    10.82       11.93       11.72       11.65       11.18  

Risk–based total capital ratio

    17.84       17.35       17.23       16.17       15.17  

Common Tier 1 (CET1)

    17.03       16.56       16.48       15.47       14.49  

Risk–based tier 1 capital ratio

    17.03       16.56       16.48       15.47       14.49  

Tier 1 leverage ratio

    11.06       11.67       11.48       11.43       11.04  

Tier 1 capital

  $ 170,242     $ 170,788     $ 171,524     $ 171,050     $ 168,461  

BankFinancial, NA (2)

                                       

Risk–based total capital ratio

    17.04 %     16.53 %     16.38 %     15.46 %     14.46 %

Common Tier 1 (CET1)

    16.22       15.75       15.63       14.76       13.78  

Risk–based tier 1 capital ratio

    16.22       15.75       15.63       14.76       13.78  

Tier 1 leverage ratio

    10.54       11.10       10.89       10.90       10.49  

Tier 1 capital

  $ 162,108     $ 162,158     $ 162,455     $ 162,818     $ 159,917  
                                         

COMMON STOCK AND DIVIDENDS

                                       

Stock Prices:

                                       

Close

  $ 8.40     $ 8.81     $ 13.08     $ 11.90     $ 13.99  

High

    9.63       13.28       14.14       14.29       15.63  

Low

    6.73       7.33       11.52       11.10       13.44  

Common shares outstanding

    14,890,628       15,072,268       15,278,464       15,373,964       15,373,964  

Book value per share

  $ 11.58     $ 11.48     $ 11.41     $ 11.31     $ 11.15  

Tangible book value per share

  $ 11.58     $ 11.48     $ 11.41     $ 11.31     $ 11.15  

Cash dividends declared on common stock

  $ 0.10     $ 0.10     $ 0.10     $ 0.10     $ 0.10  

Dividend payout ratio

    63.73 %     62.94 %     45.30 %     39.18 %     191.78 %

Stock repurchases

  $ 1,474     $ 2,202     $ 1,298     $     $ 4,001  

Stock repurchases – shares

    181,640       206,196       95,500             270,535  
                                         

EARNINGS PER SHARE COMPUTATIONS

                                       

Net income

  $ 2,352     $ 2,418     $ 3,390     $ 3,924     $ 807  

Weighted average basic and dilutive common shares outstanding

    14,978,757       15,205,731       15,342,524       15,373,964       15,472,618  

Basic and diluted earnings per common share

  $ 0.16     $ 0.16     $ 0.22     $ 0.26     $ 0.05  

 

(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 qualified community bank, the Bank is exempt from the OCC's risk-based capital rules effective second quarter 2020.  BankFinancial, NA capital data is included for informational purposes only.  

Page 8