ex_709449.htm

EX-99.1 2 ex_709449.htm EXHIBIT 99.1 ex_709449.htm

Exhibit 99.1

BANKFINANCIAL CORPORATION

Third QUARTER 2024

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 unaudited 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)

	2024									2023
	IIIQ			IIQ			IQ			IVQ			IIIQ
PERFORMANCE MEASUREMENTS
Return on assets (ratio of net income to average total assets) ⁽¹⁾		0.56	%		0.58	%		0.46	%		0.56	%		0.63	%
Return on equity (ratio of net income to average equity) ⁽¹⁾		5.03			5.44			4.38			5.37			6.16
Net interest rate spread ⁽¹⁾		2.90			3.11			3.07			3.01			3.16
Net interest margin (TEB) ^{(1) (2)}		3.47			3.67			3.59			3.48			3.57
Efficiency ratio⁽³⁾		76.73			80.39			84.11			77.39			76.02
Noninterest expense to average total assets ⁽¹⁾		2.82			3.03			3.17			2.92			2.86
Average interest–earning assets to average interest–bearing liabilities		133.26			134.44			135.89			136.25			136.78
Number of full service offices		18			18			18			18			18
Employees (full time equivalents)		198			206			217			205			200

SUMMARY STATEMENT OF FINANCIAL CONDITION
ASSETS
Cash and due from other financial institutions	$	19,412		$	19,505		$	18,533		$	19,781		$	19,691
Interest-bearing deposits in other financial institutions		118,866			132,273			113,907			158,703			151,870
Interest-bearing time deposits in other financial institutions		22,005			34,913			30,748			29,513			2,725
Securities, at fair value		264,905			222,906			239,549			153,203			155,700
Loans receivable, net		923,939			987,745			1,007,980			1,050,761			1,105,604
Foreclosed assets, net		1,966			1,898			2,332			2,777			902
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
Premises and equipment, net		22,674			22,765			22,614			22,950			22,914
Bank-owned life insurance		18,277			18,291			18,382			18,469			18,556
Deferred taxes		3,590			4,019			4,159			4,512			4,979
Other assets		14,536			25,885			14,364			18,702			14,483
Total assets	$	1,417,660		$	1,477,690		$	1,480,058		$	1,487,384		$	1,505,454

LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits	$	1,199,412		$	1,252,273		$	1,259,286		$	1,261,623		$	1,275,828
Borrowings		20,000			25,000			25,000			25,000			25,000
Subordinated notes, net of unamortized issuance costs		18,726			18,715			18,705			19,678			19,667
Other liabilities		20,414			24,224			21,036			25,700			31,204
Total liabilities		1,258,552			1,320,212			1,324,027			1,332,001			1,351,699
Stockholders’ equity		159,108			157,478			156,031			155,383			153,755
Total liabilities and stockholders’ equity	$	1,417,660		$	1,477,690		$	1,480,058		$	1,487,384		$	1,505,454

⁽¹⁾	Annualized

⁽²⁾	Calculated on a tax equivalent basis (“TEB”) assuming a federal income tax rate of 21% and an average state income tax rate of 9.5%.
⁽³⁾	The efficiency ratio represents noninterest expense, divided by the sum of net interest income and noninterest income.

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BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

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

	2024									2023
	IIIQ			IIQ			IQ			IVQ			IIIQ
SUMMARY STATEMENT OF OPERATIONS
Total interest income	$	16,886		$	17,655		$	17,345		$	16,923		$	16,894
Total interest expense		5,225			5,079			4,818			4,491			3,940
Net interest income		11,661			12,576			12,527			12,432			12,954
Provision for (recovery of) credit losses		485			(122	)		12			317			136
Net interest income after provision for (recovery of) credit losses		11,176			12,698			12,515			12,115			12,818
Noninterest income		1,482			1,276			1,461			1,625			1,240
Noninterest expense		10,084			11,135			11,766			10,879			10,790
Income before income tax		2,574			2,839			2,210			2,861			3,268
Income tax expense		581			705			500			782			899
Net income	$	1,993		$	2,134		$	1,710		$	2,079		$	2,369
Basic and diluted earnings per common share	$	0.16		$	0.17		$	0.14		$	0.17		$	0.19

NONINTEREST INCOME AND EXPENSE
Noninterest Income
Deposit service charges and fees	$	915		$	834		$	809		$	836		$	836
Loan servicing fees		97			97			156			164			98
Trust insurance commissions and annuities income		405			349			450			347			290
Loss on sale of premises and equipment		(20	)		(9	)		(75	)		—			—
Valuation adjustment on bank premises held-for-sale		—			—			—			(17	)		—
Loss on bank-owned life insurance		(14	)		(91	)		(87	)		(87	)		(88	)
Gain on repurchase of Subordinated notes		—			—			107			—			—
Other		99			96			101			382			104
Total noninterest income	$	1,482		$	1,276		$	1,461		$	1,625		$	1,240

Noninterest Expense
Compensation and benefits	$	5,441		$	5,943		$	6,052		$	5,679		$	5,369
Office occupancy and equipment		1,532			1,861			2,241			1,937			2,046
Advertising and public relations		117			112			90			139			171
Information technology		971			1,049			1,002			974			944
Professional fees		299			382			454			292			366
Supplies, telephone, and postage		281			292			286			289			311
FDIC insurance premiums		156			144			161			207			222
Other		1,287			1,352			1,480			1,362			1,361
Total noninterest expense	$	10,084		$	11,135		$	11,766		$	10,879		$	10,790

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BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

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

	2024									2023
	IIIQ			IIQ			IQ			IVQ			IIIQ
LOANS
One–to–four family residential real estate	$	15,634		$	17,707		$	18,247		$	18,945		$	19,233
Multi-family residential real estate		524,340			527,542			526,087			527,460			528,251
Nonresidential real estate		109,799			109,635			110,319			118,016			117,641
Commercial loans and leases		280,218			339,216			360,328			393,321			447,687
Consumer		1,847			1,787			1,248			1,364			1,351
		931,838			995,887			1,016,229			1,059,106			1,114,163
Allowance for credit losses		(7,899	)		(8,142	)		(8,249	)		(8,345	)		(8,559	)
Loans, net	$	923,939		$	987,745		$	1,007,980		$	1,050,761		$	1,105,604

LOAN ORIGINATIONS ⁽¹⁾
One–to–four family residential real estate	$	149		$	268		$	173		$	758		$	137
Multi-family residential real estate		4,837			14,177			5,561			6,226			5,902
Nonresidential real estate		2,658			34			—			3,183			834
Commercial loans		149,449			171,430			158,172			145,930			172,081
Equipment finance		8,068			6,207			3,427			8,141			14,442
Consumer		722			1,184			471			617			514
	$	165,883		$	193,300		$	167,804		$	164,855		$	193,910
Weighted average interest rate		8.26	%		8.76	%		9.04	%		9.09	%		9.11	%

LOAN PAYMENTS and PAYOFFS (2)
One–to–four family residential real estate	$	2,280		$	823		$	852		$	1,049		$	1,409
Multi-family residential real estate		8,094			12,387			6,931			7,336			19,784
Nonresidential real estate		2,619			711			7,684			3,278			3,253
Commercial loans		171,276			165,347			161,429			148,964			176,493
Equipment finance		44,315			33,140			34,669			55,433			56,844
Consumer		722			682			612			565			529
	$	229,307		$	213,090		$	212,177		$	216,625		$	258,312
Weighted average interest rate		7.69	%		8.16	%		8.25	%		7.85	%		7.86	%

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

⁽²⁾	Loan payments and payoffs exclude loan renewals.

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BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

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

	2024									2023
	IIIQ			IIQ			IQ			IVQ			IIIQ
CREDIT QUALITY:
Nonperforming Assets:
Nonaccrual loans:
One–to–four family residential real estate	$	34		$	39		$	34		$	37		$	40
Multi–family residential real estate		1,458			—			—			—			—
Nonresidential real estate		393			380			—			—			—
Equipment finance		20,446			20,395			20,475			21,294			23,468
		22,331			20,814			20,509			21,331			23,508

Loans past due over 90 days still accruing		—			—			—			1,007			6,245

Foreclosed assets, net
Other real estate owned		—			—			—			405			468
Other foreclosed assets		1,966			1,898			2,332			2,372			434
		1,966			1,898			2,332			2,777			902

Nonperforming assets	$	24,297		$	22,712		$	22,841		$	25,115		$	30,655

Asset Quality Ratios
Nonperforming assets to total assets		1.71	%		1.54	%		1.54	%		1.69	%		2.04	%
Nonperforming loans to total loans ⁽¹⁾		2.40			2.09			2.02			2.11			2.67
Nonperforming commercial-related loans to total commercial-related loans ⁽²⁾		2.44			2.13			2.05			2.15			2.72
Nonperforming residential and consumer loans to total residential and consumer loans		0.19			0.20			0.17			0.18			0.19
Allowance for credit losses to nonperforming loans		35.37			39.12			40.22			37.36			28.77

Concentrations of Credit
Commercial real estate for FFIEC concentration limits	$	616,985		$	621,628		$	620,694		$	624,575		$	624,469
% FFIEC total capital		361.51	%		359.51	%		364.28	%		370.83	%		363.55	%

Multi–family mortgage loans - 50% risk based capital qualified (included above)	$	253,491		$	269,868		$	297,958		$	315,179		$	248,128
% FFIEC total capital		148.53	%		156.07	%		174.87	%		187.13	%		144.45	%

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

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

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BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

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

	2024									2023
	IIIQ			IIQ			IQ			IVQ			IIIQ
SUBSTANDARD PERFORMING LOANS
One–to–four family residential real estate	$	164		$	167		$	204		$	272		$	282
Multi–family residential real estate		686			1,421			—			—			—
Nonresidential real estate		449			457			465			—			—
Commercial loans and leases		4,700			3,154			3,606			4,056			5,685
Consumer		3			3			5			3			3
	$	6,002		$	5,202		$	4,280		$	4,331		$	5,970

ALLOWANCE FOR CREDIT LOSSES
Beginning balance	$	8,142		$	8,249		$	8,345		$	8,559		$	9,226
Charge–offs:
One-to-four family residential real estate		—			—			—			(1	)		—
Commercial loans and leases		(731	)		(10	)		(158	)		(570	)		(889	)
Consumer		(12	)		(12	)		(13	)		(9	)		(14	)
		(743	)		(22	)		(171	)		(580	)		(903	)
Recoveries:
One-to-four family residential real estate		22			2			3			1			32
Multi-family residential real estate		6			4			6			5			4
Commercial loans and leases		—			7			5			50			20
		28			13			14			56			56

Net charge–offs		(715	)		(9	)		(157	)		(524	)		(847	)
Provision for (recovery of) credit losses - loans		472			(98	)		61			310			180
Ending balance	$	7,899		$	8,142		$	8,249		$	8,345		$	8,559

Allowance for credit losses to total loans		0.85	%		0.82	%		0.81	%		0.79	%		0.77	%
Net charge–offs ratio⁽¹⁾		(0.30	)		—			(0.06	)		(0.19	)		(0.30	)

⁽¹⁾	Annualized

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BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

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

	2024									2023
	IIIQ			IIQ			IQ			IVQ			IIIQ
DEPOSITS
Noninterest–bearing demand	$	226,882		$	262,585		$	256,698		$	260,851		$	258,318
Interest–bearing NOW accounts		276,551			287,668			297,010			306,548			326,874
Money market accounts		306,679			311,276			309,695			297,074			291,154
Savings deposits		160,815			167,250			171,521			174,759			178,318
Certificates of deposit - retail		228,485			223,494			224,362			222,391			220,915
Certificates of deposit - wholesale		—			—			—			—			249
	$	1,199,412		$	1,252,273		$	1,259,286		$	1,261,623		$	1,275,828

SELECTED AVERAGE BALANCES
Total average assets	$	1,430,931		$	1,470,076		$	1,484,332		$	1,492,759		$	1,511,422
Total average interest–earning assets		1,359,833			1,399,280			1,415,175			1,425,504			1,444,259
Average loans		964,827			1,010,123			1,031,256			1,088,172			1,141,788
Average securities		252,735			242,591			186,339			161,772			167,046
Average stock in FHLB & FRB		7,490			7,490			7,490			7,490			7,490
Average other interest–earning assets		134,781			139,076			190,090			168,070			127,935
Total average interest–bearing liabilities		1,020,434			1,040,842			1,041,381			1,046,249			1,055,874
Average interest–bearing deposits		977,529			997,132			996,741			1,001,576			1,011,212
Average borrowings and Subordinated notes		42,905			43,710			44,640			44,673			44,662
Average stockholders’ equity		158,540			156,785			156,115			154,927			153,796

SELECTED YIELDS AND COST OF FUNDS ⁽¹⁾
Total average interest–earning assets		4.94	%		5.07	%		4.93	%		4.71	%		4.64	%
Average loans		5.07			5.32			5.21			4.99			4.96
Average securities (TEB)⁽²⁾		4.45			4.09			2.96			2.12			1.95
Average other interest–earning assets		5.46			5.51			5.51			5.48			5.40
Total average interest–bearing liabilities		2.04			1.96			1.86			1.70			1.48
Average interest–bearing deposits		1.94			1.87			1.75			1.59			1.36
Average cost of total deposits		1.57			1.49			1.39			1.26			1.07
Average cost of retail and commercial deposits		1.94			1.87			1.75			1.59			1.36
Average cost of wholesale deposits, borrowings and Subordinated notes		4.18			4.19			4.34			4.18			4.18
Average cost of funds		1.66			1.58			1.49			1.36			1.18
Net interest rate spread		2.90			3.11			3.07			3.01			3.16
Net interest margin (TEB) ⁽²⁾		3.47			3.67			3.59			3.48			3.57

⁽¹⁾	Annualized
⁽²⁾	Calculated on a tax equivalent basis assuming a federal income tax rate of 21% and an average state income tax rate of 9.5%.

Page 6

BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

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

	2024									2023
	IIIQ			IIQ			IQ			IVQ			IIIQ
CAPITAL RATIOS
BankFinancial Corporation ⁽¹⁾
Equity to total assets (end of period)		11.22	%		10.66	%		10.54	%		10.45	%		10.21	%
Risk–based total capital ratio		21.56			20.52			20.73			20.70			19.13
Common Tier 1 (CET1)		18.53			17.60			17.75			17.66			16.30
Risk–based tier 1 capital ratio		18.53			17.60			17.75			17.66			16.30
Tier 1 leverage ratio		11.11			10.75			10.59			10.54			10.38
Tier 1 capital	$	158,778		$	157,984		$	157,062		$	157,246		$	156,780
BankFinancial, NA ⁽²⁾
Risk–based total capital ratio		19.96	%		19.31	%		19.30	%		18.96	%		17.90	%
Common Tier 1 (CET1)		19.11			18.46			18.43			18.13			17.10
Risk–based tier 1 capital ratio		19.11			18.46			18.43			18.13			17.10
Tier 1 leverage ratio		11.48			11.32			11.03			10.85			10.93
Tier 1 capital	$	163,355		$	165,368		$	162,715		$	161,037		$	164,172

COMMON STOCK AND DIVIDENDS
Stock Prices:
Close	$	12.18		$	10.29		$	10.50		$	10.26		$	8.62
High		12.56			10.70			11.12			10.76			9.11
Low		10.01			9.60			9.65			8.31			7.98
Common shares outstanding		12,460,678			12,460,678			12,460,678			12,475,881			12,547,390
Book value per share	$	12.77		$	12.64		$	12.52		$	12.45		$	12.25
Cash dividends declared on common stock	$	0.10		$	0.10		$	0.10		$	0.10		$	0.10
Dividend payout ratio		62.52	%		58.39	%		72.94	%		60.33	%		53.16	%
Stock repurchases	$	—		$	—		$	156		$	676		$	471
Stock repurchases – shares		—			—			15,203			71,509			53,088

EARNINGS PER SHARE COMPUTATIONS
Net income	$	1,993		$	2,134		$	1,710		$	2,079		$	2,369
Weighted average basic and dilutive common shares outstanding		12,460,678			12,460,678			12,468,052			12,526,673			12,578,494
Basic and diluted earnings per common share	$	0.16		$	0.17		$	0.14		$	0.17		$	0.19

⁽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 2020. The Community Bank Leverage Ratio is equal to the Bank's Tier 1 Leverage Ratio. Other BankFinancial, NA capital data is included for informational purposes only.

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