View:
Download DOC
Download PDF
Download XLS
Download XBRL
bfin20200514_8k.htm
false 0001303942 0001303942 2020-10-28 2020-10-28
 
 
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 28, 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: (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, 2020 in a conference call and webcast for stockholders and analysts on Friday, October 30, 2020 at 9:30 a.m. Chicago, Illinois Time.
 
The conference call may be accessed by calling (844) 413-1780 using participant passcode 1086689. The conference call will be simultaneously webcast at www.bankfinancial.com, “Investor Relations” page.
 
Item 8.01. Other Events.
 
On October 28, 2020, the Company issued a press release announcing the filing of its Quarterly Report on Form 10-Q for the quarter ended September 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 October 28, 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:
 October 28, 2020
 
By:
/s/ F. Morgan Gasior
 
 
 
 
 
F. Morgan Gasior
 
 
 
 
 
Chairman of the Board, Chief Executive Officer and President
 
 
ex_186771.htm

 

Exhibit 99.1

 

https://cdn.kscope.io/2856faaf93082bccd0921ab34936398d-bfinlogo.jpg
 

FOR IMMEDIATE RELEASE

 

BankFinancial Corporation Reports Financial Results for the Third Quarter 2020 and

Will Host Conference Call and Webcast on Friday, October 30, 2020

 

Burr Ridge, Illinois - (October 28, 2020) BankFinancial Corporation (Nasdaq – BFIN) (“BankFinancial” ) filed its Quarterly Report on Form 10-Q for the quarter ended September 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 September 30, 2020 of $1.9 million, or $0.13 per common share, compared to net income of $3.9 million, or $0.26 per common share, for the three months ended September 30, 2019. BankFinancial also reported net income of $6.7 million, or $0.45 per common share, for the nine months ended September 30, 2020, compared to net income of $8.3 million, or $0.53 per common share, for the nine months ended September 30, 2019.  At September 30, 2020, BankFinancial had total assets of $1.605 billion, total loans of $1.066 billion, total deposits of $1.402 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 third quarter 2020 results in a conference call and webcast for stockholders and analysts on Friday, October 30, 2020 at 9:30 a.m. Chicago, Illinois Time.  The conference call may be accessed by calling (844) 413-1780 using participant passcode 1086689. 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, November 13, 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

 

Third 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  
   

IIIQ

    

IIQ

    

IQ

    

IVQ

    

IIIQ

  

PERFORMANCE MEASUREMENTS

                                        

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

     0.49 %     0.61 %     0.66 %     0.91 %     1.05 %

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

     4.50       5.42       5.52       7.71       9.04  

Net interest rate spread (1)

     2.69       2.90       3.19       3.23       3.38  

Net interest margin (1)

     2.85       3.09       3.44       3.50       3.67  

Efficiency ratio (2)

     79.82       74.06       72.03       66.98       64.62  

Noninterest expense to average total assets (1)

     2.45       2.40       2.63       2.56       2.54  

Average interest–earning assets to average interest–bearing liabilities

     141.40       138.21       132.68       132.47       131.18  

Number of full service offices

     19       19       19       19       19  

Employees (full time equivalents)

     210       199       226       222       223  
                                         

SUMMARY STATEMENT OF FINANCIAL CONDITION

                                        

ASSETS

                                        

Cash and due from other financial institutions

   $ 13,740     $ 13,826     $ 14,652     $ 9,785     $ 13,074  

Interest-bearing deposits in other financial institutions

     415,925       370,939       155,286       180,540       127,719  

Securities, at fair value

     42,048       59,437       63,853       60,193       65,440  

Loans receivable, net

     1,065,892       1,081,798       1,147,628       1,168,008       1,213,948  

Other real estate owned, net

     110       143       110       186       269  

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

     24,241       24,323       24,202       24,346       24,598  

Bank-owned life insurance

     18,996       18,986       18,977       18,945       18,914  

Deferred taxes

     3,520       3,615       3,644       3,873       4,556  

Other assets

     12,981       12,572       14,440       14,649       15,974  

Total assets

   $ 1,604,943     $ 1,593,129     $ 1,450,282     $ 1,488,015     $ 1,491,982  
                                         

LIABILITIES AND STOCKHOLDERS’ EQUITY

                                        

Deposits

   $ 1,402,244     $ 1,388,155     $ 1,253,751     $ 1,284,757     $ 1,288,825  

Borrowings

     4,000       4,000       —       61       1,253  

Other liabilities

     26,302       28,520       23,536       28,825       28,037  

Total liabilities

     1,432,546       1,420,675       1,277,287       1,313,643       1,318,115  

Stockholders’ equity

     172,397       172,454       172,995       174,372       173,867  

Total liabilities and stockholders’ equity

   $ 1,604,943     $ 1,593,129     $ 1,450,282     $ 1,488,015     $ 1,491,982  

 

(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)

 

 

    2020     2019  
   

IIIQ

    

IIQ

    

IQ

    

IVQ

    

IIIQ

  

SUMMARY STATEMENT OF OPERATIONS

                                        

Total interest income

   $ 12,485     $ 13,194     $ 14,653     $ 15,732     $ 16,628  

Total interest expense

     1,488       1,869       2,684       3,105       3,386  

Net interest income

     10,997       11,325       11,969       12,627       13,242  

Provision for (recovery of) loan losses

     (187 )     42       471       89       (134 )
Net interest income after provision for (recovery of) loan losses     11,184       11,283       11,498       12,538       13,376  

Noninterest income

     1,264       1,163       1,398       1,648       1,474  

Noninterest expense

    

9,787

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

Income before income tax

     2,661       3,197       3,268       4,624       5,341  

Income tax expense

     713       845       850       1,234       1,417  

Net income

   $ 1,948     $ 2,352     $ 2,418     $ 3,390     $ 3,924  

Basic and diluted earnings per common share

   $ 0.13     $ 0.16     $ 0.16     $ 0.22     $ 0.26  
                                         

NONINTEREST INCOME AND EXPENSE

                                        

Noninterest Income

                                        

Deposit service charges and fees

   $ 833     $ 736     $ 887     $ 957     $ 983  

Loan servicing fees

     44       82       63       273       99  

Mortgage brokerage and banking fees

     44       11       29       72       28  

Loss on disposal of other assets

     —       —       (2 )     (25 )     —  

Trust insurance commissions and annuities income

     222       224       282       217       198  

Earnings on bank-owned life insurance

     10       9       32       31       37  

Other

     111       101       107       123       129  
Total noninterest income   $ 1,264     $ 1,163     $ 1,398     $ 1,648     $ 1,474  
                                         

Noninterest Expense

                                        

Compensation and benefits

   $ 5,398     $ 5,168     $ 5,518     $ 5,138     $ 5,218  

Office occupancy and equipment

     1,860       1,723       1,800       1,727       1,879  

Advertising and public relations

     135       118       152       169       182  

Information technology

     781       808       864       921       892  

Professional fees

     307       289       235       359       213  

Supplies, telephone, and postage

     288       284       303       291       312  

Amortization of intangibles

     6       7       14       14       13  

Nonperforming asset management

     57       57       40       (24 )     17  

Operations of other real estate owned, net

     23       7       (17 )     30       19  

FDIC insurance premiums

     105       102       34       —       (127 )

Other

     827       686       685       937       891  

Total noninterest expense

   $ 9,787     $ 9,249     $ 9,628     $ 9,562     $ 9,509  

 

Page 2
 
BANKFINANCIAL CORPORATION
SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA
Latest Five Quarters

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

 

    2020     2019  
   

IIIQ

    

IIQ

    

IQ

    

IVQ

    

IIIQ

  

LOANS

                                        

One–to–four family residential real estate

   $ 44,812     $ 48,928     $ 52,849     $ 55,750     $ 60,757  

Multi–family mortgage

     522,825       536,619       542,421       563,750       577,656  

Nonresidential real estate

     124,477       127,560       133,432       134,674       140,410  

Construction and land

     —       —       —       —       88  
Commercial loans and leases     379,638       374,606       424,112       418,343       439,646  

Consumer

     1,784       1,783       2,078       2,211       2,052  
      1,073,536       1,089,496       1,154,892       1,174,728       1,220,609  

Net deferred loan origination costs

     367       458       848       912       942  

Allowance for loan losses

     (8,011 )     (8,156 )     (8,112 )     (7,632 )     (7,603 )

Loans, net

   $ 1,065,892     $ 1,081,798     $ 1,147,628     $ 1,168,008     $ 1,213,948  
                                         

LOAN ORIGINATIONS (1)

                                        

One–to–four family residential real estate

   $ 557     $ 667     $ 659     $ 437     $ 721  

Multi–family mortgage

     12,593       21,546       17,642       19,848       6,960  

Nonresidential real estate

     217       855       4,772       174       387  
Commercial loans     40,439       110,080       151,098       134,330       141,314  
Equipment finance     58,864       18,036       46,503       33,183       30,998  

Consumer

     590       489       883       1,018       852  
    $ 113,260     $ 151,673     $ 221,557     $ 188,990     $ 181,232  

Weighted average interest rate

     4.04 %     4.13 %     4.55 %     5.41 %     5.75 %
                                         

LOAN PAYMENTS and PAYOFFS (2)

                                        

One–to–four family residential real estate

   $ 4,711     $ 4,586     $ 3,511     $ 5,317     $ 4,127  

Multi–family mortgage

     26,630       27,814       38,213       33,916       49,374  

Nonresidential real estate

     3,159       6,583       6,740       5,854       6,802  

Construction and land

     —       —       —       88       28  
Commercial loans     56,765       139,932       162,015       151,432       130,208  
Equipment finance     38,804       35,841       31,167       36,488       44,035  

Consumer

     580       755       989       796       703  
    $ 130,649     $ 215,511     $ 242,635     $ 233,891     $ 235,277  

Weighted average interest rate

     4.49 %     4.58 %     4.74 %     5.46 %     5.45 %

 

(1) Beginning in Q3 2020, commercial loans and leases are presented as one line item.  Previously they were presented separately.  Prior periods have been reclassified to conform with current presentation. 

(2)

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

(3)

Loan payments and payoffs exclude loan renewals.

 

Page 3
 
BANKFINANCIAL CORPORATION
SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA
Latest Five Quarters

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

 

    2020     2019  
   

IIIQ

    

IIQ

    

IQ

    

IVQ

    

IIIQ

  

CREDIT QUALITY:

                                        

Nonperforming Assets:

                                        

Nonaccrual loans:

                                        

One–to–four family residential real estate

   $ 465     $ 662     $ 476     $ 512     $ 1,163  

Nonresidential real estate

     1,870       288       288       288       284  

Other commercial leases

     —       833       —       —       —  

Nonaccrual loans

     2,335       1,783       764       800       1,447  
                                         

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

     —       —       —       47       —  
                                         

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

     110       143       110       186       269  
                                         

Nonperforming assets

   $ 2,445     $ 1,926     $ 874     $ 1,033     $ 1,716  
                                         

Asset Quality Ratios

                                        

Nonperforming assets to total assets

     0.15 %     0.12 %     0.06 %     0.07 %     0.12 %

Nonperforming loans to total loans (1)

     0.22       0.16       0.07       0.07       0.12  

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

     0.18       0.11       0.03       0.03       0.02  

Nonperforming residential and consumer loans to total residential and consumer loans

     1.00       1.31       0.87       0.88       1.85  

Allowance for loan losses to nonperforming loans

     343.08       457.43       1061.78       901.06       525.43  
                                         

Concentrations of Credit

                                        

Commercial real estate for FFIEC concentration limits

   $ 622,273     $ 637,777     $ 648,991     $ 699,434     $ 688,887  

% FFIEC total capital

     366.52 %     374.58 %     381.15 %     393.32 %     403.95 %
                                         

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

   $ 278,271     $ 235,176     $ 281,962     $ 336,287     $ 302,648  

% FFIEC total capital

     163.90 %     138.12 %     165.60 %     197.58 %     177.47 %
                                         

 

(1)

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

(2)

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

 

Page 4
 
BANKFINANCIAL CORPORATION
SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA
Latest Five Quarters

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

 

    2020     2019  
   

IIIQ

    

IIQ

    

IQ

    

IVQ

    

IIIQ

  

SUBSTANDARD PERFORMING LOANS

                                        

One–to–four family residential real estate

   $ 517     $ 501     $ 440     $ 568     $ 577  

Multi–family mortgage

     —       —       —       206       211  

Nonresidential real estate

     1,196       2,790       89       90       93  
Commercial loans and leases     1,296       1,261       1,423       136       —  

Consumer

     5       11       9       53       3  
    $ 3,014     $ 4,563     $ 1,961     $ 1,053     $ 884  
                                         

ALLOWANCE FOR LOAN LOSSES

                                        

Beginning balance

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

Charge–offs:

                                        

One–to–four family residential real estate

     (2 )     —       (5 )     (105 )     (44 )

Nonresidential real estate

     —       —       —       —       (55 )

Consumer

     (14 )     (17 )     (13 )     (11 )     (5 )
      (16 )     (17 )     (18 )     (116 )     (104 )

Recoveries:

                                        

One–to–four family residential real estate

     2       3       13       47       5  

Multi–family mortgage

     56       15       12       7       8  

Commercial loans and leases

     —       1       2       2       4  
      58       19       27       56       17  

Net recoveries (charge–offs)

     42       2       9       (60 )     (87 )

Provision for (recovery of ) loan losses

     (187 )     42       471       89       (134 )

Ending balance

   $ 8,011     $ 8,156     $ 8,112     $ 7,632     $ 7,603  
                                         

Allowance for loan losses to total loans

     0.75 %     0.75 %     0.70 %     0.65 %     0.62 %

Net recoveries (charge–offs) ratio (1)

     0.02       —       —       (0.02 )     (0.03 )

 

(1)

Annualized

 

Page 5
 
BANKFINANCIAL CORPORATION
SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA
Latest Five Quarters

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

 

    2020     2019  
   

IIIQ

    

IIQ

    

IQ

    

IVQ

    

IIIQ

  

DEPOSITS

                                        

Noninterest–bearing demand

   $ 328,915     $ 305,096     $ 211,142     $ 210,762     $ 208,347  

Interest–bearing NOW accounts

     316,976       306,629       266,828       273,168       274,752  

Money market accounts

     283,236       268,143       247,227       245,610       237,022  

Savings deposits

     171,766       167,570       155,505       153,183       149,431  

Certificates of deposit - retail

     275,862       303,976       319,987       336,949       344,327  

Certificates of deposit - wholesale

     25,489       36,741       53,062       65,085       74,946  
    $ 1,402,244     $ 1,388,155     $ 1,253,751     $ 1,284,757     $ 1,288,825  
                                         

SELECTED AVERAGE BALANCES

                                        

Total average assets

   $ 1,599,148     $ 1,541,352     $ 1,465,253     $ 1,496,379     $ 1,498,380  

Total average interest–earning assets

     1,534,324       1,475,901       1,400,539       1,429,300       1,430,830  

Average loans

     1,080,521       1,116,067       1,160,197       1,189,771       1,239,774  

Average securities

     52,265       66,750       62,919       64,658       78,221  

Average stock in FHLB & FRB

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

Average other interest–earning assets

     394,048       285,594       169,933       167,381       105,345  

Total average interest–bearing liabilities

     1,085,129       1,067,854       1,055,550       1,078,940       1,090,766  

Average interest–bearing deposits

     1,081,129       1,065,480       1,055,535       1,078,537       1,089,596  

Average borrowings

     4,000       2,374       15       403       1,170  

Average stockholders’ equity

     173,266       173,677       175,069       175,977       173,698  
                                         

SELECTED YIELDS AND COST OF FUNDS (1)

                                        

Total average interest–earning assets

     3.24 %     3.60 %     4.21 %     4.37 %     4.61 %

Average loans

     4.43       4.57       4.72       4.82       4.92  

Average securities

     1.39       1.63       1.94       2.27       2.58  

Average other interest–earning assets

     0.19       0.24       1.54       1.94       2.50  

Total average interest–bearing liabilities

     0.55       0.70       1.02       1.14       1.23  

Average interest–bearing deposits

     0.55       0.71       1.02       1.14       1.23  

Average cost of total deposits

     0.42       0.56       0.85       0.95       1.03  

Average cost of retail and commercial deposits

     0.48       0.63       0.93       1.04       1.13  

Average cost of wholesale deposits and borrowings

     2.22       2.35       2.52       2.53       2.48  

Average cost of funds

     0.42       0.56       0.85       0.95       1.03  

Net interest rate spread

     2.69       2.90       3.19       3.23       3.38  

Net interest margin

     2.85       3.09       3.44       3.50       3.67  

 

(1)

Annualized

 

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

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

 

    2020     2019  
   

IIIQ

    

IIQ

    

IQ

    

IVQ

    

IIIQ

  

CAPITAL RATIOS

                                        

BankFinancial Corporation (1)

                                        

Equity to total assets (end of period)

     10.74 %     10.82 %     11.93 %     11.72 %     11.65 %

Tangible equity to tangible total assets (end of period)

     10.74       10.82       11.93       11.72       11.65  

Risk–based total capital ratio

     18.68       17.84       17.35       17.23       16.17  

Common Tier 1 (CET1)

     17.84       17.03       16.56       16.48       15.47  

Risk–based tier 1 capital ratio

     17.84       17.03       16.56       16.48       15.47  

Tier 1 leverage ratio

     10.66       11.06       11.67       11.48       11.43  

Tier 1 capital

   $ 170,271     $ 170,242     $ 170,788     $ 171,524     $ 171,050  

BankFinancial, NA (2)

                                        

Risk–based total capital ratio

     17.80 %     17.04 %     16.53 %     16.38 %     15.46 %

Common Tier 1 (CET1)

     16.96       16.22       15.75       15.63       14.76  

Risk–based tier 1 capital ratio

     16.96       16.22       15.75       15.63       14.76  

Tier 1 leverage ratio

     10.13       10.54       11.10       10.89       10.90  

Tier 1 capital

   $ 161,770     $ 162,108     $ 162,158     $ 162,455     $ 162,818  
                                         

COMMON STOCK AND DIVIDENDS

                                        

Stock Prices:

                                        

Close

   $ 7.22     $ 8.40     $ 8.81     $ 13.08     $ 11.90  

High

     8.70       9.63       13.28       14.14       14.29  

Low

     6.81       6.73       7.33       11.52       11.10  

Common shares outstanding

     14,824,628       14,890,628       15,072,268       15,278,464       15,373,964  

Book value per share

   $ 11.63     $ 11.58     $ 11.48     $ 11.41     $ 11.31  

Tangible book value per share

   $ 11.63     $ 11.58     $ 11.48     $ 11.41     $ 11.31  

Cash dividends declared on common stock

   $ 0.10     $ 0.10     $ 0.10     $ 0.10     $ 0.10  

Dividend payout ratio

     76.13 %     63.73 %     62.94 %     45.30 %     39.18 %

Stock repurchases

   $ 518     $ 1,474     $ 2,202     $ 1,298     $ —  

Stock repurchases – shares

     66,000       181,640       206,196       95,500       —  
                                         

EARNINGS PER SHARE COMPUTATIONS

                                        

Net income

   $ 1,948     $ 2,352     $ 2,418     $ 3,390     $ 3,924  

Weighted average basic and dilutive common shares outstanding

     14,842,150       14,978,757       15,205,731       15,342,524       15,373,964  

Basic and diluted earnings per common share

   $ 0.13     $ 0.16     $ 0.16     $ 0.22     $ 0.26  

 

(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 Office of the Comptroller of the Currency's risk-based capital rules effective second quarter 2020.  BankFinancial, NA capital data is included for informational purposes only.  
Page 7