BankFinancial CORP - FORM 8-K - EX-99.2 - EXHIBIT 99.2

Attached files

file	filename
8-K - 8-K - BankFinancial CORP	bfin2020038kresults.htm
EX-99.3 - EXHIBIT 99.3 - BankFinancial CORP	a2020corporateprofile042.htm
EX-99.1 - EXHIBIT 99.1 - BankFinancial CORP	bfin-20200331ex991earnings.htm

Exhibit 99.2

BANKFINANCIAL CORPORATION

FIRST 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
	IQ			IVQ			IIIQ			IIQ		IQ
SUMMARY STATEMENT OF OPERATIONS
Total interest income	$	14,653		$	15,732		$	16,628		$	16,522	$	16,526
Total interest expense	2,684			3,105			3,386			3,419		3,307
Net interest income	11,969			12,627			13,242			13,103		13,219
Provision for (recovery of) loan losses	471			89			(134		)	3,957		(87		)
Net interest income after provision for (recovery of) loan losses	11,498			12,538			13,376			9,146		13,306
Noninterest income	1,398			1,648			1,474			1,426		1,624
Noninterest expense	9,628			9,562			9,509			9,472		10,098
Income before income tax	3,268			4,624			5,341			1,100		4,832
Income tax expense	850			1,234			1,417			293		1,281
Net income	$	2,418		$	3,390		$	3,924		$	807	$	3,551
Basic and diluted earnings per common share	$	0.16		$	0.22		$	0.26		$	0.05	$	0.22

NONINTEREST INCOME AND EXPENSE
Noninterest Income
Deposit service charges and fees	$	887		$	957		$	983		$	974	$	930
Loan servicing fees	63			273			99			56		23
Mortgage brokerage and banking fees	29			72			28			21		28
Gain on sale of equity securities	—			—			—			—		295
Loss on disposal of other assets	(2		)	(25		)	—			—		(19		)
Trust insurance commissions and annuities income	282			217			198			224		205
Earnings on bank-owned life insurance	32			31			37			38		30
Other	107			123			129			113		132
Total noninterest income	$	1,398		$	1,648		$	1,474		$	1,426	$	1,624

Noninterest Expense
Compensation and benefits	$	5,518		$	5,138		$	5,218		$	5,207	$	5,703
Office occupancy and equipment	1,800			1,726			1,877			1,621		1,845
Advertising and public relations	152			169			182			145		161
Information technology	822			855			716			736		692
Professional fees	263			412			376			240		306
Supplies, telephone, and postage	300			288			310			319		399
Amortization of intangibles	14			14			13			14		20
Nonperforming asset management	40			(24		)	17			58		54
Operations of other real estate owned, net	(17		)	30			19			47		(44		)
FDIC insurance premiums	34			—			(127		)	146		108
Other	702			954			908			939		854
Total noninterest expense	$	9,628		$	9,562		$	9,509		$	9,472	$	10,098

Page 2

BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

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



	2020			2019
	IQ			IVQ			IIIQ			IIQ			IQ
PERFORMANCE MEASUREMENTS
Return on assets (ratio of net income to average total assets) ⁽¹⁾	0.66		%	0.91		%	1.05		%	0.21		%	0.91		%
Return on equity (ratio of net income to average equity)⁽¹⁾	5.52			7.71			9.04			1.84			7.68
Net interest rate spread ⁽¹⁾	3.19			3.23			3.38			3.30			3.35
Net interest margin ⁽¹⁾	3.44			3.50			3.67			3.60			3.64
Efficiency ratio ⁽²⁾	72.03			66.98			64.62			65.19			68.03
Noninterest expense to average total assets⁽¹⁾	2.63			2.56			2.54			2.48			2.60
Average interest–earning assets to average interest–bearing liabilities	132.68			132.47			131.18			131.66			131.53
Number of full service offices	19			19			19			19			19
Employees (full time equivalents)	226			222			223			231			235

SUMMARY STATEMENT OF FINANCIAL CONDITION
ASSETS
Cash and due from other financial institutions	$	14,652		$	9,785		$	13,074		$	13,998		$	12,016
Interest-bearing deposits in other financial institutions	155,286			180,540			127,719			89,609			66,206
Securities, at fair value	63,853			60,193			65,440			87,080			83,240
Loans receivable, net	1,147,628			1,168,008			1,213,948			1,267,454			1,306,475
Other real estate owned, net	110			186			269			497			921
Stock in Federal Home Loan Bank and Federal Reserve Bank, at cost	7,490			7,490			7,490			7,490			8,026
Premises and equipment, net	24,202			24,346			24,598			24,923			24,992
Bank-owned life insurance	18,977			18,945			18,914			18,877			18,839
Deferred taxes	3,644			3,873			4,556			4,816			5,023
Other assets	14,440			14,649			15,974			19,178			19,282
Total assets	$	1,450,282		$	1,488,015		$	1,491,982		$	1,533,922		$	1,545,020

LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits	$	1,253,751		$	1,284,757		$	1,288,825		$	1,330,207		$	1,326,746
Borrowings	—			61			1,253			798			16,106
Other liabilities	23,536			28,825			28,037			31,426			25,948
Total liabilities	1,277,287			1,313,643			1,318,115			1,362,431			1,368,800
Stockholders’ equity	172,995			174,372			173,867			171,491			176,220
Total liabilities and stockholders’ equity	$	1,450,282		$	1,488,015		$	1,491,982		$	1,533,922		$	1,545,020

(1)Annualized

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

Page 3

BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

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



	2020			2019
	IQ			IVQ			IIIQ			IIQ			IQ
LOANS
One–to–four family residential real estate	$	52,849		$	55,750		$	60,757		$	64,192		$	66,833
Multi–family mortgage	542,421			563,750			577,656			619,898			634,328
Nonresidential real estate	133,432			134,674			140,410			145,416			148,601
Construction and land	—			—			88			117			145
Commercial loans	158,049			145,714			163,846			153,709			172,264
Commercial leases	266,063			272,629			275,800			289,107			289,750
Consumer	2,078			2,211			2,052			1,861			1,846
	1,154,892			1,174,728			1,220,609			1,274,300			1,313,767
Net deferred loan origination costs	848			912			942			978			1,062
Allowance for loan losses	(8,112		)	(7,632		)	(7,603		)	(7,824		)	(8,354		)
Loans, net	$	1,147,628		$	1,168,008		$	1,213,948		$	1,267,454		$	1,306,475

LOAN ORIGINATIONS ⁽¹⁾
One–to–four family residential real estate	$	659		$	437		$	721		$	836		$	695
Multi–family mortgage	17,004			19,848			6,960			9,258			27,871
Nonresidential real estate	5,410			174			387			4,100			1,641
Commercial loans	172,837			134,330			141,314			153,537			155,123
Commercial leases	24,764			33,183			30,998			34,959			27,611
Consumer	883			1,018			852			842			1,174
	$	221,557		$	188,990		$	181,232		$	203,532		$	214,115
Weighted average rate	4.55		%	5.41		%	5.75		%	6.27		%	6.15		%

LOAN PAYMENTS and PAYOFFS⁽²⁾
One–to–four family residential real estate	$	3,511		$	5,317		$	4,127		$	3,415		$	4,195
Multi–family mortgage	38,213			33,916			49,374			23,685			13,308
Nonresidential real estate	6,708			5,854			6,802			7,165			5,542
Construction and land	—			88			28			27			27
Commercial loans	162,048			151,432			130,208			167,352			170,387
Commercial leases	31,004			36,488			44,035			39,633			37,259
Consumer	989			796			703			800			781
	$	242,473		$	233,891		$	235,277		$	242,077		$	231,499
Weighted average rate	4.74		%	5.46		%	5.45		%	5.91		%	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.

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BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

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



	2020			2019
	IQ			IVQ			IIIQ			IIQ			IQ
CREDIT QUALITY:
Nonperforming Assets:
Nonaccrual loans:
One–to–four family residential real estate	$	476		$	512		$	1,163		$	928		$	848
Nonresidential real estate	288			288			284			2,083			242
Commercial loans	—			—			—			—			354
Nonaccrual loans	764			800			1,447			3,011			1,444

Loans past due over 90 days, still accruing - commercial leases	—			47			—			—			—

Other real estate owned - One–to–four family residential real estate	110			186			269			497			921

Nonperforming assets	$	874		$	1,033		$	1,716		$	3,508		$	2,365

Asset Quality Ratios
Nonperforming assets to total assets	0.06		%	0.07		%	0.12		%	0.23		%	0.15		%
Nonperforming loans to total loans⁽¹⁾	0.07			0.07			0.12			0.24			0.11
Nonperforming commercial-related loans to total commercial-related loans ⁽²⁾	0.03			0.03			0.02			0.17			0.05
Nonperforming residential and consumer loans to total residential and consumer loans	0.87			0.88			1.85			1.40			1.23
Allowance for loan losses to nonperforming loans	1,061.78			901.06			525.43			259.85			578.53

Concentrations of Credit
Commercial real estate for FFIEC concentration limits	$	648,991		$	699,434		$	688,887		$	734,567		$	749,755
% FFIEC total capital	381.15		%	393.32		%	403.95		%	437.62		%	440.83		%

Multi–family mortgage loans - 50% risk based capital qualified (included above)	$	281,962		$	336,287		$	302,648		$	286,910		$	351,284
% FFIEC total capital	165.60		%	197.58		%	177.47		%	170.93		%	206.54		%

Commercial Leases - Investment rated	$	124,451		$	133,839		$	133,049		$	143,148		$	157,215
Commercial Leases - Other	141,612			138,790			142,751			145,959			132,535


(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.

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BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

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



	2020			2019
	IQ			IVQ			IIIQ			IIQ			IQ
SUBSTANDARD PERFORMING LOANS
One–to–four family residential real estate	$	440		$	568		$	577		$	487		$	384
Multi–family mortgage	—			206			211			213			214
Nonresidential real estate	89			90			93			93			95
Commercial loans	—			—			—			500			3,033
Commercial leases	1,423			136			—			—			—
Consumer	9			53			3			1			9
	$	1,961		$	1,053		$	884		$	1,294		$	3,735

ALLOWANCE FOR LOAN LOSSES
Beginning balance	$	7,632		$	7,603		$	7,824		$	8,354		$	8,470
Charge–offs:
One–to–four family residential real estate	(5		)	(105		)	(44		)	(50		)	(23		)
Nonresidential real estate	—			—			(55		)	—			(28		)
Commercial loans	—			—			—			(4,443		)	—
Consumer	(13		)	(11		)	(5		)	(10		)	(5		)
	(18		)	(116		)	(104		)	(4,503		)	(56		)
Recoveries:
One–to–four family residential real estate	13			47			5			6			17
Multi–family mortgage	12			7			8			8			8
Commercial loans	2			2			4			2			2
	27			56			17			16			27
Net recoveries (charge–offs)	9			(60		)	(87		)	(4,487		)	(29		)
Provision for (recovery of ) loan losses	471			89			(134		)	3,957			(87		)
Ending balance	$	8,112		$	7,632		$	7,603		$	7,824		$	8,354

Allowance for loan losses to total loans	0.70		%	0.65		%	0.62		%	0.61		%	0.64		%
Net recoveries (charge–offs) ratio ⁽¹⁾	—			(0.02		)	(0.03		)	(1.38		)	(0.01		)


(1)	Annualized

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BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

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



	2020			2019
	IQ			IVQ			IIIQ			IIQ			IQ
DEPOSITS
Noninterest–bearing demand	$	211,142		$	210,762		$	208,347		$	213,966		$	222,328
Interest–bearing NOW accounts	266,828			273,168			274,752			278,405			266,402
Money market accounts	247,227			245,610			237,022			246,941			248,657
Savings deposits	155,505			153,183			149,431			153,414			155,505
Certificates of deposit - retail	319,987			336,949			344,327			348,685			341,266
Certificates of deposit - wholesale	53,062			65,085			74,946			88,796			92,588
	$	1,253,751		$	1,284,757		$	1,288,825		$	1,330,207		$	1,326,746

SELECTED AVERAGE BALANCES
Total average assets	$	1,465,253		$	1,496,379		$	1,498,380		$	1,529,033		$	1,553,484
Total average interest–earning assets	1,400,539			1,429,300			1,430,830			1,458,180			1,474,355
Average loans	1,160,197			1,189,771			1,239,774			1,297,548			1,304,385
Average securities	62,919			64,658			78,221			86,144			91,271
Average stock in FHLB & FRB	7,490			7,490			7,490			7,629			8,026
Average other interest–earning assets	169,933			167,381			105,345			66,859			70,673
Total average interest–bearing liabilities	1,055,550			1,078,940			1,090,766			1,107,540			1,120,957
Average interest–bearing deposits	1,055,535			1,078,537			1,089,596			1,106,439			1,106,582
Average borrowings	15			403			1,170			1,101			14,375
Average stockholders’ equity	175,069			175,977			173,698			175,452			184,957

SELECTED YIELDS AND COST OF FUNDS ^(1):
Total average interest–earning assets	4.21		%	4.37		%	4.61		%	4.54		%	4.55		%
Average loans	4.72			4.82			4.92			4.76			4.77
Average securities	1.94			2.27			2.58			2.80			2.67
Average other interest–earning assets	1.54			1.94			2.50			2.63			2.71
Total average interest–bearing liabilities	1.02			1.14			1.23			1.24			1.20
Average interest–bearing deposits	1.02			1.14			1.23			1.24			1.18
Average cost of total deposits	0.85			0.95			1.03			1.04			0.99
Average cost of retail and commercial deposits	0.93			1.04			1.13			1.13			1.08
Average cost of wholesale deposits and borrowings	2.52			2.53			2.48			2.39			2.29
Average cost of funds	0.85			0.95			1.03			1.04			1.00
Net interest rate spread	3.19			3.23			3.38			3.30			3.35
Net interest margin	3.44			3.50			3.67			3.60			3.64

(1) Annualized

Page 7

BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

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



	2020			2019
	IQ			IVQ			IIIQ			IIQ			IQ
CAPITAL RATIOS
BankFinancial Corporation ⁽¹⁾
Equity to total assets (end of period)	11.93		%	11.72		%	11.65		%	11.18		%	11.41		%
Tangible equity to tangible total assets (end of period)	11.93			11.72			11.65			11.18			11.40
Risk–based total capital ratio	17.35			17.23			16.17			15.17			15.47
Common Tier 1 (CET1)	16.56			16.48			15.47			14.49			14.76
Risk–based tier 1 capital ratio	16.56			16.48			15.47			14.49			14.76
Tier 1 leverage ratio	11.67			11.48			11.43			11.04			11.13
Tier 1 capital	$	170,788		$	171,524		$	171,050		$	168,461		$	172,486
BankFinancial, NA
Risk–based total capital ratio	16.53		%	16.38		%	15.46		%	14.46		%	14.58		%
Common Tier 1 (CET1)	15.75			15.63			14.76			13.78			13.86
Risk–based tier 1 capital ratio	15.75			15.63			14.76			13.78			13.86
Tier 1 leverage ratio	11.10			10.89			10.90			10.49			10.45
Tier 1 capital	$	162,158		$	162,455		$	162,818		$	159,917		$	161,723

COMMON STOCK AND DIVIDENDS
Stock Prices:
Close	$	8.81		$	13.08		$	11.90		$	13.99		$	14.87
High	13.28			14.14			14.29			15.63			16.06
Low	7.33			11.52			11.10			13.44			13.46
Common shares outstanding	15,072,268			15,278,464			15,373,964			15,373,964			15,644,499
Book value per share	$	11.48		$	11.41		$	11.31		$	11.15		$	11.26
Tangible book value per share	$	11.48		$	11.41		$	11.31		$	11.15		$	11.26
Cash dividends declared on common stock	$	0.10		$	0.10		$	0.10		$	0.10		$	0.10
Dividend payout ratio	62.94		%	45.30		%	39.18		%	191.78		%	46.35		%
Stock repurchases	$	2,202		$	1,298		$	—		$	4,001		$	12,840
Stock repurchases – shares	206,196			95,500			—			270,535			837,015

EARNINGS PER SHARE COMPUTATIONS
Net income	$	2,418		$	3,390		$	3,924		$	807		$	3,551
Weighted average basic and dilutive common shares outstanding	15,205,731			15,342,524			15,373,964			15,472,618			16,202,303
Basic and diluted earnings per common share	$	0.16		$	0.22		$	0.26		$	0.05		$	0.22


(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.

Page 8

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