Last10K.com

Bankfinancial Corp (BFIN) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Bankfinancial Corp

CIK: 1303942 Ticker: BFIN


Exhibit 99.1

 graphica02a17.jpg
FOR IMMEDIATE RELEASE
BankFinancial Corporation Reports Financial Results for the Third Quarter 2018 and
Will Host Conference Call and Webcast on Thursday, October 18, 2018
Burr Ridge, Illinois - (October 16, 2018) BankFinancial Corporation (Nasdaq - BFIN) (the “Company”) announced today that the Company reported net income of $3.7 million, or $0.22 per common share, for the three months ended September 30, 2018, compared to net income of $3.6 million, or $0.20 per common share, for the three months ended September 30, 2017. The Company reported net income of $11.9 million, or $0.68 per common share, for the nine months ended September 30, 2018, compared to $8.0 million, or $0.44 per common share, for the nine months ended September 30, 2017.
For the third quarter of 2018, commercial and industrial loans increased by $3.6 million (2.2%) and multi-family residential real estate loans increased by $10.0 million (1.7%), compared to June 30, 2018. Commercial leases decreased by $19.5 million (6.1%), primarily due to the scheduled amortization of lower-yielding investment-grade leases in excess of investment-grade lease originations. Residential and commercial real estate loan balances declined due to portfolio amortization and prepayments.
The Company’s asset quality remained favorable. The ratio of nonperforming loans to total loans was 0.12% and the ratio of non-performing assets to total assets was 0.16% at September 30, 2018. Non-performing commercial-related loans represented 0.01% of total commercial-related loans.
Retail and commercial core transaction deposit accounts were stable with some seasonal fluctuations. Retail certificate of deposit accounts increased by $23.2 million (9.2%) to provide greater interest rate risk protection compared to retail money market deposit accounts given current and anticipated market conditions. Money market deposit accounts declined by $15.4 million (5.5%) primarily due to our interest rate risk management practices and moderate competitive posture. Total wholesale deposits and borrowings declined by $31.7 million (22.1%) during the third quarter of 2018. The Company’s liquid assets exceeded 12% of total assets at September 30, 2018.
The average yield on our loan and lease portfolio at September 30, 2018 was 4.43%, compared to an average loan and lease portfolio yield of 4.34% at June 30, 2018. The average yield on our securities portfolio was 2.20% at September 30, 2018, compared to an average yield of 2.04% at June 30, 2018. The total average cost of funds was 0.72%, compared to the total average cost of funds of 0.61% at June 30, 2018. Our net interest margin expanded to 3.51% at September 30, 2018, compared to 3.49% at June 30, 2018.
The Company’s capital position remained strong with a Tier 1 leverage ratio of 12.06%. During the third quarter of 2018, the Company increased its quarterly dividend rate by 11.1% to $0.10 per share and repurchased 254,785 common shares, which represented 1.5% of the common shares that were outstanding at June 30, 2018. The Company’s tangible book value per share increased in the third quarter of 2018 by 0.4% to $11.16 per share.
“Our third quarter 2018 financial results reflect our continued successful execution of key business plan objectives, including the expansion of our commercial and industrial loan portfolio, maintaining strong asset quality, prudent interest rate risk and liquidity management, and improving our overall efficiency. We look forward to further enhancements to these positive trends during the remainder of 2018,” said F. Morgan Gasior, the Chairman and CEO of the Company.
The Company’s Quarterly Financial and Statistical Supplement will be available today on BankFinancial's website, www.bankfinancial.com on the “Stockholder Information” 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 2018 results in a conference call and webcast for stockholders and analysts on Thursday, October 18, 2018 at 9:30 a.m. Chicago, Illinois Time. The conference call may be accessed by calling (844) 413-1780 using participant passcode 9859628. 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 Thursday, November 1, 2018 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



The following information was filed by Bankfinancial Corp (BFIN) on Tuesday, October 16, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Bankfinancial Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Bankfinancial Corp.

Continue

Assess how Bankfinancial Corp's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Bankfinancial Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Rating

Learn More
Bullish Bearish Neutral
Filter Sentiment:
All
Positive
Negative
Filter Category:
All
Financial
Revenue
Legal
Other
Filter Subcategory:
All
Expense
Product
Income
Earnings
Shares
Other
Inside Bankfinancial Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Statements Comprehensive Income
Consolidated Statements Of Cash Flow
Consolidated Statements Of Changes In Stockholders' Equity
Consolidated Statements Of Changes In Stockholders' Equity (Parenthetical)
Consolidated Statements Of Financial Condition
Consolidated Statements Of Financial Condition (Unaudited) (Parenthetical)
Consolidated Statements Of Operations
Earnings Per Share (Details)
Earnings Per Share (Notes)
Earnings Per Share (Tables)
Fair Value (Notes)
Fair Value (Tables)
Fair Value - Assets Measured At Fair Value On A Non-Recurring Basis (Details)
Fair Value - Carrying Amount And Estimated Fair Value Of Finanical Instruments (Details)
Fair Value - Financial Assets Accounted For At Fair Value (Details)
Loans Receivable (Details)
Loans Receivable (Notes)
Loans Receivable (Tables)
Loans Receivable - Activity In The Allowance For Loan Losses (Details)
Loans Receivable - Allowance For Loan Losses (Details)
Loans Receivable - Credit Quality Indicators (Details)
Loans Receivable - Loan Origination And Risk Management (Details)
Loans Receivable - Loans Individually Evaluated For Impairment (Details)
Loans Receivable - Modified Troubled Debt Restructuring (Details)
Loans Receivable - Narrative (Details)
Loans Receivable - Nonaccrual Loans (Details)
Loans Receivable - Past Due Loans (Details)
Loans Receivable - Troubled Debt Restructuring (Details)
Other Real Estate Owned (Details)
Other Real Estate Owned (Notes)
Other Real Estate Owned (Tables)
Revenue From Contracts With Customers
Revenue From Contracts With Customers (Details)
Revenue From Contracts With Customers (Tables)
Securities (Notes)
Securities (Tables)
Securities - Amortized Cost And Fair Value (Details)
Securities - Fair Value Of Securites (Details)
Securities - Proceeds And Gross Gains (Losses) From Sale Of Securities (Details)
Securities - Unrealized Losses (Details)
Securities Sold Under Agreements To Repurchase (Details)
Securities Sold Under Agreements To Repurchase (Notes)
Securities Sold Under Agreements To Repurchase (Tables)
Summary Of Significant Accounting Policies (Notes)
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies - Narrative (Details)
Summary Of Significant Accounting Policies New Accounting Pronouncements (Policies)

Material Contracts, Statements, Certifications & more

Bankfinancial Corp provided additional information to their SEC Filing as exhibits

Ticker: BFIN
CIK: 1303942
Form Type: 10-Q Quarterly Report
Accession Number: 0001303942-18-000065
Submitted to the SEC: Fri Oct 26 2018 6:24:33 AM EST
Accepted by the SEC: Fri Oct 26 2018
Period: Sunday, September 30, 2018
Industry: Savings Institution Federally Chartered

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/bfin/0001303942-18-000065.htm