BFIN BankFinancial Corporation

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)

☐	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))

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

(a)

Not Applicable.

(b)

Not Applicable.

(c)

Not Applicable.

(d)

Exhibits.

	Exhibit No.	Description
	99.1	Press Release dated January 31, 2024
	99.2	Quarterly Financial and Statistical Supplement
	104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

			BANKFINANCIAL CORPORATION
Dated:	January 31, 2024		By:	/s/ F. Morgan Gasior
				F. Morgan Gasior
				Chairman of the Board, Chief Executive Officer and President

 

Exhibit 99.1

 

FOR IMMEDIATE RELEASE

 

BankFinancial Corporation Reports Financial Results for 2023 and

Will Host Conference Call and Webcast on Friday, February 2, 2024

 

Burr Ridge, Illinois - (January 31, 2024)  BankFinancial Corporation (Nasdaq – BFIN) (the “Company”) announced today that the Company recorded net income of $9.4 million and basic and diluted earnings per common share of $0.74 for the year ended December 31, 2023.   The Company recorded net income of $2.1 million and basic and diluted earnings per common share of $0.17 for the fourth quarter of 2023.

 

Total assets at December 31, 2023 were $1.487 billion, a decline of $88.1 million (5.6%) compared to December 31, 2022.  Cash and interest-bearing deposits were $178.5 million, an increase of $111.7 million (167.3%) compared to 2022.  Total net loans decreased by $176.0 million (14.3%) to $1.051 billion for the year ended 2023 due to business plan changes we implemented in 2023 focused on increasing liquidity, maintaining asset-liability flexibility and loan pricing discipline, and reducing credit risk to certain asset classes.  Total commercial loans and leases decreased by $159.7 million (28.9%) resulting from a $153.1 million (33.6%) decline in equipment finance portfolio balances and a $6.6 million (6.8%) decline in commercial finance loan balances.  Total multi-family residential and nonresidential real estate loans decreased by $11.6 million (1.8%). Our loan to deposit ratio was 83.3% as of December 31, 2023, compared to 89.2% as of December 31, 2022.

 

Total deposits decreased by $113.3 million (8.2%) in 2023 primarily due to a general decline in balances related to retail and commercial depositors’ use of funds and to a lesser extent, national and local competition for interest-bearing retail deposits by banks and credit unions. Core deposits represented 82.4% of total deposits, with noninterest-bearing demand deposits representing 20.7% of total deposits.  Commercial deposits were 21.2% of total deposits at December 31, 2023, consistent with 2022.

 

The Company’s capital position remained strong, with a Tier 1 leverage ratio of 10.54% as of December 31, 2023. Throughout 2023, the Company maintained its quarterly dividend rate at $0.10 per common share. The Company repurchased 266,716 common shares during 2023, which represented 2.1% of the common shares that were outstanding on December 31, 2022. The book value of the Company’s common shares increased from $11.90 per share at December 31, 2022 to $12.45 per share at December 31, 2023.

 

For the year ended December 31, 2023, interest income increased by $10.9 million (19.6%) due to our investment of scheduled loan and lease portfolio repayments into short-term liquidity investments and higher yields earned within the commercial loan portfolio.  Interest expense increased by $9.8 million (219.7%) due to higher rates paid on deposit accounts, as certain depositors managed their funds in a way that benefited from increases in short-term market interest rates.  Accordingly, the Company's net interest income before the provision for credit losses increased by $1.0 million (2.0%) in 2023.

 

Noninterest income decreased by $1.6 million primarily due to a $753,000 reduction in Bank-Owned Life Insurance revenues and death benefits and a $602,000 asset valuation reduction related to the closure of two branch office facilities. Trust Department income increased by $77,000 due to growth in assets under management during 2023.  Noninterest expense increased by $2.1 million primarily due to increases in compensation expenses, FDIC insurance expense related to higher uniform premium rates assessed on all insured depository institutions, and other expenses.

 

The ratio of nonperforming loans to total loans was 2.11% and the ratio of nonperforming assets to total assets was 1.69% at December 31, 2023 primarily due to two U.S. Government equipment finance transactions totaling 1.78% of total loans and 1.27% of total assets for which the government did not remit required payments and are now subject to a federal claims process.  The provision for credit losses - loans decreased by $1.4 million in 2023 primarily due to the decrease in loan portfolio balances during 2023 and the impact of the Current Expected Credit Loss accounting standard implemented in 2023.  Our allowance for credit losses increased to 0.79% of total loans at December 31, 2023, compared to 0.66% at December 31, 2022.

 

F. Morgan Gasior, the Chairman and CEO of the Company, said: “The Company ended 2023 in good financial and operational condition.  Our asset-liability management strategies enabled us to strengthen liquidity and improve interest income in a highly uncertain environment.  In turn, the improvement in interest income enabled us to improve net interest income despite a significant increase in deposit interest expense due to sharply rising market interest rates.  To ensure appropriate liquidity, reduce risk exposures and maintain asset-liability flexibility in a rising rate environment, we reduced commercial credit originations in our equipment finance and commercial real estate portfolios, which provided liquidity to fund the reduction in total deposits and increases in short-term investments. These actions resulted in strong liquidity and capital ratios as of December 31, 2023.  The reduction in loan balances and the unexpected developments in our government equipment finance portfolio reduced the earnings benefits from our asset-liability management actions. We expect our Commercial Finance, Commercial Equipment Finance and Treasury Services originations capabilities will contribute to earnings improvements and to loan portfolio diversity in 2024.  We remain committed to delivering strong financial results and contributions to our shareholders and communities.”

 

The Company's 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 fourth quarter 2023 results in a conference call and webcast for stockholders and analysts on Friday, February 2, 2024 at 9:30 a.m. Chicago, Illinois Time.  All participants will need to register for the conference call using the conferencing link below.  We will also publish the conferencing link on our website.  Participant registration URL:  https://register.vevent.com/register/BI0b6c092b40134a41a155b5c2d186393a

 

This link will take participants to the online registration form.  On the day of the call participants will have their choice of options: dial-in to the call with the number and unique passcode provided OR select the dial-out “Call Me” option to connect their phone instantly.  Participants can join via desktop, tablet or phone.

 

For those unable to participate in the conference call, the webcast will be archived through Friday, February 23, 2024 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

 

Exhibit 99.2

 

 

 

BANKFINANCIAL CORPORATION

 

FOURTH QUARTER 2023

 

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.

 

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

 

		2023																2022
		IVQ				IIIQ				IIQ				IQ				IVQ
PERFORMANCE MEASUREMENTS
Return on assets (ratio of net income to average total assets) (1)			0.56	%			0.63	%			0.61	%			0.68	%			0.86	%
Return on equity (ratio of net income to average equity) (1)			5.37				6.16				6.02				6.96				9.01
Net interest rate spread (1)			3.01				3.16				3.23				3.41				3.39
Net interest margin (1)			3.46				3.56				3.56				3.66				3.59
Efficiency ratio (2)			77.39				76.02				79.11				74.51				65.12
Noninterest expense to average total assets (1)			2.92				2.86				2.94				2.65				2.50
Average interest–earning assets to average interest–bearing liabilities			136.25				136.78				136.86				135.85				137.62
Number of full service offices			18				18				18				18				20
Employees (full time equivalents)			205				200				198				202				203
SUMMARY STATEMENT OF FINANCIAL CONDITION
ASSETS
Cash and due from other financial institutions		$	19,781			$	19,691			$	20,401			$	19,963			$	12,046
Interest-bearing deposits in other financial institutions			158,703				151,870				94,930				57,042				54,725
Securities, at fair value			182,716				158,425				169,647				170,239				210,338
Loans receivable, net			1,050,761				1,105,604				1,170,767				1,225,288				1,226,743
Foreclosed assets, net			2,777				902				950				1,393				476
Stock in Federal Home Loan Bank and Federal Reserve Bank, at cost			7,490				7,490				7,490				7,490				7,490
Premises held-for-sale			523				540				540				1,246				—
Premises and equipment, net			22,950				22,914				22,957				22,955				24,956
Bank-owned life insurance			18,469				18,556				18,644				18,731				18,815
Deferred taxes			4,512				4,979				5,476				5,395				5,480
Other assets			18,702				14,483				14,894				14,368				14,373
Total assets		$	1,487,384			$	1,505,454			$	1,526,696			$	1,544,110			$	1,575,442
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits		$	1,261,623			$	1,275,828			$	1,303,720			$	1,315,214			$	1,374,934
Borrowings			25,000				25,000				25,000				35,000				—
Subordinated Notes, net of unamortized issuance costs			19,678				19,667				19,656				19,645				19,634
Other liabilities			25,700				31,204				26,017				21,892				29,203
Total liabilities			1,332,001				1,351,699				1,374,393				1,391,751				1,423,771
Stockholders’ equity			155,383				153,755				152,303				152,359				151,671
Total liabilities and stockholders’ equity		$	1,487,384			$	1,505,454			$	1,526,696			$	1,544,110			$	1,575,442

 

(1)	Annualized

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

 

 

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

 

		2023																2022				For the years ended December 31,
		IVQ				IIIQ				IIQ				IQ				IVQ				2023				2022
SUMMARY STATEMENT OF OPERATIONS
Total interest income		$	16,923			$	16,894			$	16,178			$	16,160			$	16,064			$	66,155			$	55,296
Total interest expense			4,491				3,940				3,235				2,660				2,076				14,326				4,481
Net interest income			12,432				12,954				12,943				13,500				13,988				51,829				50,815
Provision for (recovery of) credit losses			317				136				(188	)			48				743				313				1,828
Net interest income after provision for (recovery of) credit losses			12,115				12,818				13,131				13,452				13,245				51,516				48,987
Noninterest income			1,625				1,240				1,239				313				1,406				4,417				5,976
Noninterest expense			10,879				10,790				11,220				10,292				10,039				43,181				41,128
Income before income tax			2,861				3,268				3,150				3,473				4,612				12,752				13,835
Income tax expense			782				899				838				840				1,174				3,359				3,341
Net income		$	2,079			$	2,369			$	2,312			$	2,633			$	3,438			$	9,393			$	10,494
Basic and diluted earnings per common share		$	0.17			$	0.19			$	0.18			$	0.21			$	0.27			$	0.74			$	0.80
NONINTEREST INCOME AND EXPENSE
Noninterest Income
Deposit service charges and fees		$	836			$	836			$	830			$	816			$	835			$	3,318			$	3,271
Loan servicing fees			164				98				141				129				240				532				590
Trust insurance commissions and annuities income			347				290				276				367				266				1,280				1,153
Losses on sales of securities			—				—				—				(454	)			—				(454	)			—
Gain (loss) on sale of premises and equipment			—				—				13				(4	)			—				9				—
Valuation adjustment on bank premises held-for-sale			(17	)			—				(32	)			(553	)			—				(602	)			—
Loss on bank-owned life insurance			(87	)			(88	)			(87	)			(84	)			(64	)			(346	)			(39	)
Bank-owned life insurance death benefit			—				—				—				—				—				—				446
Other			382				104				98				96				129				680				555
Total noninterest income		$	1,625			$	1,240			$	1,239			$	313			$	1,406			$	4,417			$	5,976
Noninterest Expense
Compensation and benefits		$	5,679			$	5,369			$	5,629			$	5,555			$	5,366			$	22,232			$	21,576
Office occupancy and equipment			1,937				2,046				2,031				2,038				1,944				8,052				7,981
Advertising and public relations			139				171				262				190				202				762				690
Information technology			974				944				965				849				926				3,732				3,566
Professional fees			292				366				355				317				262				1,330				1,292
Supplies, telephone, and postage			289				311				295				359				342				1,254				1,393
FDIC insurance premiums			207				222				282				154				111				865				467
Other			1,362				1,361				1,401				830				886				4,954				4,163
Total noninterest expense		$	10,879			$	10,790			$	11,220			$	10,292			$	10,039			$	43,181			$	41,128

 

 

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

 

		2023																2022				For the years ended December 31,
		IVQ				IIIQ				IIQ				IQ				IVQ				2023				2022
LOANS
One–to–four family residential real estate		$	18,945			$	19,233			$	20,448			$	21,475			$	23,133
Multi–family residential real estate			527,460				528,251				542,165				544,673				537,394
Nonresidential real estate			118,016				117,641				120,505				123,360				119,705
Commercial loans and leases			393,321				447,687				495,520				544,216				553,056
Consumer			1,364				1,351				1,355				1,596				1,584
			1,059,106				1,114,163				1,179,993				1,235,320				1,234,872
Allowance for credit losses			(8,345	)			(8,559	)			(9,226	)			(10,032	)			(8,129	)
Loans, net		$	1,050,761			$	1,105,604			$	1,170,767			$	1,225,288			$	1,226,743
LOAN ORIGINATIONS (1)
One–to–four family residential real estate		$	758			$	137			$	128			$	173			$	215			$	1,196			$	1,423
Multi–family residential real estate			6,226				5,902				6,686				17,097				67,888				35,911				223,918
Nonresidential real estate			3,183				834				200				5,436				7,694				9,653				43,732
Commercial loans			145,930				172,081				157,704				181,227				179,421				656,942				715,613
Equipment finance			8,141				14,442				7,290				24,623				90,157				54,496				265,227
Consumer			617				514				539				565				544				2,235				2,147
		$	164,855			$	193,910			$	172,547			$	229,121			$	345,919			$	760,433			$	1,252,060
Weighted average interest rate			9.09	%			9.11	%			9.24	%			8.67	%			6.88	%			9.00	%			5.67	%
LOAN PAYMENTS and PAYOFFS (2)
One–to–four family residential real estate		$	1,049			$	1,409			$	1,139			$	1,826			$	1,525			$	5,423			$	8,378
Multi–family residential real estate			7,336				19,784				9,095				10,151				13,465				46,366				113,377
Nonresidential real estate			3,278				3,253				2,934				1,967				3,708				11,432				27,009
Commercial loans			148,964				176,493				169,402				168,461				177,205				663,320				706,162
Equipment finance			55,433				56,844				43,567				45,250				64,144				201,094				211,295
Consumer			565				529				675				615				541				2,384				2,210
		$	216,625			$	258,312			$	226,812			$	228,270			$	260,588			$	930,019			$	1,068,431
Weighted average interest rate			7.85	%			7.86	%			8.35	%			8.20	%			6.97	%			8.06	%			5.56	%

 

(1)	Loan originations include purchased loans, draws on revolving lines of credit and exclude loan renewals.
(2)	Loan payments and payoffs exclude loan renewals.

 

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

 

		2023																2022
		IVQ				IIIQ				IIQ				IQ				IVQ
CREDIT QUALITY:
Nonperforming Assets:
Nonaccrual loans:
One–to–four family residential real estate		$	37			$	40			$	45			$	55			$	92
Multi–family residential real estate			—				—				148				—				—
Equipment finance			21,294				23,468				23,965				8,807				1,310
Consumer			—				—				—				—				5
			21,331				23,508				24,158				8,862				1,407
Loans past due over 90 days, still accruing			1,007				6,245				—				—				238
Foreclosed assets, net
Other real estate owned			405				468				472				472				472
Other foreclosed assets			2,372				434				478				921				4
			2,777				902				950				1,393				476
Nonperforming assets		$	25,115			$	30,655			$	25,108			$	10,255			$	2,121
Asset Quality Ratios
Nonperforming assets to total assets			1.69	%			2.04	%			1.64	%			0.66	%			0.13	%
Nonperforming loans to total loans (1)			2.11				2.67				2.05				0.72				0.13
Nonperforming commercial-related loans to total commercial-related loans (2)			2.15				2.72				2.08				0.73				0.13
Nonperforming residential and consumer loans to total residential and consumer loans			0.18				0.19				0.21				0.24				0.39
Allowance for credit losses to nonperforming loans			37.36				28.77				38.19				113.20				494.16
Concentrations of Credit
Commercial real estate for FFIEC concentration limits		$	624,575			$	624,469			$	641,022			$	645,768			$	634,482
% FFIEC total capital			370.83	%			363.55	%			372.44	%			374.63	%			365.95	%
Multi–family residential real estate loans - 50% risk based capital qualified (included above)		$	315,179			$	248,128			$	175,902			$	122,213			$	101,052
% FFIEC total capital			187.13	%			144.45	%			102.20	%			70.90	%			58.28	%

 

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

(2)	Commercial-related loans include multi-family residential real estate, nonresidential real estate, and commercial loans and leases.

 

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

 

		2023																2022
		IVQ				IIIQ				IIQ				IQ				IVQ
SUBSTANDARD PERFORMING LOANS
One–to–four family residential real estate		$	272			$	282			$	272			$	280			$	327
Multi–family residential real estate			—				—				—				148				—
Commercial loans and leases			4,056				5,685				3,759				3,846				4,041
Consumer			3				3				5				5				4
		$	4,331			$	5,970			$	4,036			$	4,279			$	4,372
ALLOWANCE FOR CREDIT LOSSES
Beginning balance		$	8,559			$	9,226			$	10,032			$	8,129			$	7,386
Impact of adopting ASC 326			—				—				—				1,907				—
Charge–offs:
One-to-four family residential real estate			(1	)			—				—				—				—
Commercial loans and leases			(570	)			(889	)			(638	)			(79	)			(1	)
Consumer			(9	)			(14	)			(7	)			(22	)			(12	)
			(580	)			(903	)			(645	)			(101	)			(13	)
Recoveries:
One–to–four family residential real estate			1				32				7				5				4
Multi–family residential real estate			5				4				6				5				5
Commercial loans and leases			50				20				6				1				4
Consumer			—				—				—				1				—
			56				56				19				12				13
Net charge–offs			(524	)			(847	)			(626	)			(89	)			—
Provision for (recovery of) credit losses			310				180				(180	)			85				743
Ending balance		$	8,345			$	8,559			$	9,226			$	10,032			$	8,129
Allowance for credit losses to total loans			0.79	%			0.77	%			0.78	%			0.81	%			0.66	%
Net charge–offs ratio (1)			(0.19	)			(0.30	)			(0.21	)			(0.03	)			—

 

(1)	Annualized

 

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

 

		2023																2022
		IVQ				IIIQ				IIQ				IQ				IVQ
DEPOSITS
Noninterest–bearing demand		$	260,851			$	258,318			$	278,170			$	287,493			$	280,625
Interest–bearing NOW accounts			306,548				326,874				349,374				360,441				400,416
Money market accounts			297,074				291,154				271,194				273,256				302,863
Savings deposits			174,759				178,318				190,277				200,659				204,506
Certificates of deposit - retail			222,391				220,915				214,456				193,116				186,524
Certificates of deposit - wholesale			—				249				249				249				—
		$	1,261,623			$	1,275,828			$	1,303,720			$	1,315,214			$	1,374,934
SELECTED AVERAGE BALANCES
Total average assets		$	1,492,759			$	1,511,422			$	1,526,246			$	1,553,445			$	1,605,375
Total average interest–earning assets			1,425,504				1,444,259				1,459,369				1,494,248				1,546,499
Average loans			1,088,172				1,141,788				1,206,175				1,225,636				1,158,474
Average securities			171,903				170,806				176,052				212,344				215,359
Average stock in FHLB & FRB			7,490				7,490				7,490				7,490				7,490
Average other interest–earning assets			157,939				124,175				69,652				48,778				165,176
Total average interest–bearing liabilities			1,046,249				1,055,874				1,066,332				1,099,950				1,123,780
Average interest–bearing deposits			1,001,576				1,011,212				1,021,023				1,066,321				1,104,152
Average borrowings and Subordinated Notes			44,673				44,662				45,309				33,629				19,628
Average stockholders’ equity			154,927				153,796				153,703				151,417				152,672
SELECTED YIELDS AND COST OF FUNDS (1)
Total average interest–earning assets			4.71	%			4.64	%			4.45	%			4.39	%			4.12	%
Average loans			4.99				4.96				4.77				4.76				4.57
Average securities			2.18				1.88				1.92				2.13				2.04
Average other interest–earning assets			5.47				5.42				5.14				4.66				3.69
Total average interest–bearing liabilities			1.70				1.48				1.22				0.98				0.73
Average interest–bearing deposits			1.59				1.36				1.08				0.87				0.67
Average cost of total deposits			1.26				1.07				0.85				0.70				0.53
Average cost of retail and commercial deposits			1.59				1.36				1.08				0.87				0.67
Average cost of wholesale deposits, borrowings and Subordinated Notes			4.18				4.18				4.21				4.34				4.01
Average cost of funds			1.36				1.18				0.96				0.79				0.58
Net interest rate spread			3.01				3.16				3.23				3.41				3.39
Net interest margin			3.46				3.56				3.56				3.66				3.59

 

(1)	Annualized

 

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

 

		2023																2022
		IVQ				IIIQ				IIQ				IQ				IVQ
CAPITAL RATIOS
BankFinancial Corporation (1)
Equity to total assets (end of period)			10.45	%			10.21	%			9.98	%			9.87	%			9.63	%
Tangible equity to tangible total assets (end of period)			10.45				10.21				9.98				9.87				9.63
Risk–based total capital ratio			20.70				19.13				17.75				16.98				17.00
Common Tier 1 (CET1)			17.66				16.30				15.05				14.34				14.43
Risk–based tier 1 capital ratio			17.66				16.30				15.05				14.34				14.43
Tier 1 leverage ratio			10.54				10.38				10.23				10.03				9.73
Tier 1 capital		$	157,246			$	156,780			$	156,050			$	155,789			$	156,086
BankFinancial, NA (2)
Risk–based total capital ratio			18.96	%			17.90	%			16.64	%			15.88	%			16.04	%
Common Tier 1 (CET1)			18.13				17.10				15.83				15.04				15.28
Risk–based tier 1 capital ratio			18.13				17.10				15.83				15.04				15.28
Tier 1 leverage ratio			10.85				10.93				10.80				10.52				10.31
Tier 1 capital		$	161,037			$	164,172			$	163,806			$	163,249			$	165,252
COMMON STOCK AND DIVIDENDS
Stock Prices:
Close		$	10.26			$	8.62			$	8.18			$	8.75			$	10.53
High			10.76				9.11				8.94				10.59				10.60
Low			8.31				7.98				7.17				8.55				9.06
Common shares outstanding			12,475,881				12,547,390				12,600,478				12,693,993				12,742,597
Book value per share		$	12.45			$	12.25			$	12.09			$	12.00			$	11.90
Tangible book value per share		$	12.45			$	12.25			$	12.09			$	12.00			$	11.90
Cash dividends declared on common stock		$	0.10			$	0.10			$	0.10			$	0.10			$	0.10
Dividend payout ratio			60.33	%			53.16	%			54.88	%			48.36	%			37.45	%
Stock repurchases		$	676			$	471			$	744			$	502			$	1,760
Stock repurchases – shares			71,509				53,088				93,515				48,604				179,577
EARNINGS PER SHARE COMPUTATIONS
Net income		$	2,079			$	2,369			$	2,312			$	2,633			$	3,438
Weighted average basic and dilutive common shares outstanding			12,526,673				12,578,494				12,667,129				12,721,841				12,861,529
Basic and diluted earnings per common share		$	0.17			$	0.19			$	0.18			$	0.21			$	0.27

 

(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. Other BankFinancial, NA capital data is included for informational purposes only.

 

v3.24.0.1

Document And Entity Information	Jan. 31, 2024
Document Information [Line Items]
Entity, Registrant Name	BANKFINANCIAL CORPORATION
Document, Type	8-K
Document, Period End Date	Jan. 31, 2024
Entity, Incorporation, State or Country Code	MD
Entity, File Number	0-51331
Entity, Tax Identification Number	75-3199276
Entity, Address, Address Line One	60 North Frontage Road
Entity, Address, City or Town	Burr Ridge
Entity, Address, State or Province	IL
Entity, Address, Postal Zip Code	60527
City Area Code	800
Local Phone Number	894-6900
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock
Trading Symbol	BFIN
Security Exchange Name	NASDAQ
Entity, Emerging Growth Company	false
Amendment Flag	false
Entity, Central Index Key	0001303942

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