EX-99.2 3 bfin-20190930ex992suppleme.htm EXHIBIT 99.2

Exhibit

Exhibit 99.2

BANKFINANCIAL CORPORATION

THIRD QUARTER 2019

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)

	2019												2018
	IIIQ				IIQ				IQ				IVQ				IIIQ
PERFORMANCE MEASUREMENTS
Return on assets (ratio of net income to average total assets) (1)	1.05		%		0.21		%		0.91		%		1.92		%		0.97		%
Return on equity (ratio of net income to average equity) (1)	9.04				1.84				7.68				15.72				7.68
Net interest rate spread (1)	3.38				3.30				3.35				3.24				3.30
Net interest margin (1)	3.67				3.60				3.64				3.52				3.51
Efficiency ratio	64.62				65.19				68.03				51.22				64.84
Noninterest expense to average total assets (1)	2.54				2.48				2.60				2.88				2.45
Average interest–earning assets to average interest–bearing liabilities	131.18				131.66				131.53				133.35				133.23
Number of full service offices	19				19				19				19				19
Employees (full time equivalents)	223				231				235				236				245
SUMMARY STATEMENT OF FINANCIAL CONDITION
ASSETS
Cash and due from other financial institutions	$	13,074			$	13,998			$	12,016			$	13,805			$	12,473
Interest-bearing deposits in other financial institutions	127,719				89,609				66,206				84,399				74,461
Securities, at fair value	65,440				87,080				83,240				88,179				103,921
Loans receivable, net	1,213,948				1,267,454				1,306,475				1,323,793				1,267,787
Other real estate owned, net	269				497				921				1,226				985
Stock in Federal Home Loan Bank and Federal Reserve Bank, at cost	7,490				7,490				8,026				8,026				8,026
Premises and equipment, net	24,598				24,923				24,992				25,205				24,473
Bank owned life insurance	18,914				18,877				18,839				18,809				18,781
Deferred taxes	4,556				4,816				5,023				6,235				8,911
Other assets	15,974				19,178				19,282				15,648				12,666
Total assets	$	1,491,982			$	1,533,922			$	1,545,020			$	1,585,325			$	1,532,484
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits	$	1,288,825			$	1,330,207			$	1,326,746			$	1,352,484			$	1,295,770
Borrowings	1,253				798				16,106				21,049				21,232
Other liabilities	28,037				31,426				25,948				24,642				23,399
Total liabilities	1,318,115				1,362,431				1,368,800				1,398,175				1,340,401
Stockholders’ equity	173,867				171,491				176,220				187,150				192,083
Total liabilities and stockholders’ equity	$	1,491,982			$	1,533,922			$	1,545,020			$	1,585,325			$	1,532,484

(1)Annualized

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BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

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

	2019												2018
	IIIQ				IIQ				IQ				IVQ				IIIQ
SUMMARY STATEMENT OF OPERATIONS
Total interest income	$	16,628			$	16,522			$	16,526			$	16,146			$	15,373
Total interest expense	3,386				3,419				3,307				3,043				2,408
Net interest income before provision (recovery)	13,242				13,103				13,219				13,103				12,965
Provision for (recovery of) loan losses	(134		)		3,957				(87		)		403				(23		)
Net interest income	13,376				9,146				13,306				12,700				12,988
Noninterest income	1,474				1,426				1,624				8,674				1,570
Noninterest expense	9,509				9,472				10,098				11,155				9,425
Income before income tax	5,341				1,100				4,832				10,219				5,133
Income tax expense	1,417				293				1,281				2,803				1,396
Net income	$	3,924			$	807			$	3,551			$	7,416			$	3,737
Basic and diluted earnings per common share	$	0.26			$	0.05			$	0.22			$	0.44			$	0.22
NONINTEREST INCOME AND EXPENSE
Noninterest Income
Deposit service charges and fees	$	983			$	974			$	930			$	998			$	1,003
Loan servicing fees	99				56				23				208				71
Commercial mortgage brokerage fees	4				8				—				—				12
Residential mortgage banking fees	24				13				28				31				34
Gain on sale of equity securities	—				—				295				3,572				—
Unrealized gain on equity securities	—				—				—				3,427				—
Loss on disposal of other assets	—				—				(19		)		—				—
Trust insurance commissions and annuities income	198				224				205				267				207
Earnings on bank owned life insurance	37				38				30				28				35
Other	129				113				132				143				208
Total noninterest income	$	1,474			$	1,426			$	1,624			$	8,674			$	1,570
Noninterest Expense
Compensation and benefits	$	5,218			$	5,207			$	5,703			$	6,755			$	5,120
Office occupancy and equipment	1,877				1,621				1,845				1,795				1,629
Advertising and public relations	182				145				161				237				194
Information technology	716				736				692				726				717
Supplies, telephone, and postage	310				319				399				363				341
Amortization of intangibles	13				14				20				21				20
Nonperforming asset management	17				58				54				40				60
Loss (gain) on sales of other real estate owned	(21		)		4				(95		)		—				(12		)
Valuation adjustments of other real estate owned	17				21				—				—				1
Operations of other real estate owned, net	23				22				51				77				70
FDIC insurance premiums	(127		)		146				108				99				115
Other	1,284				1,179				1,160				1,042				1,170
Total noninterest expense	$	9,509			$	9,472			$	10,098			$	11,155			$	9,425

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BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

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

	2019												2018
	IIIQ				IIQ				IQ				IVQ				IIIQ
LOANS
One–to–four family residential real estate	$	60,757			$	64,192			$	66,833			$	70,371			$	77,591
Multi–family mortgage	577,656				619,898				634,328				619,870				581,880
Nonresidential real estate	140,410				145,416				148,601				152,442				148,010
Construction and land	88				117				145				172				1,130
Commercial loans	163,846				153,709				172,264				187,406				167,547
Commercial leases	275,800				289,107				289,750				299,394				297,103
Consumer	2,052				1,861				1,846				1,539				1,416
	1,220,609				1,274,300				1,313,767				1,331,194				1,274,677
Net deferred loan origination costs	942				978				1,062				1,069				1,213
Allowance for loan losses	(7,603		)		(7,824		)		(8,354		)		(8,470		)		(8,103		)
Loans, net	$	1,213,948			$	1,267,454			$	1,306,475			$	1,323,793			$	1,267,787
LOAN ORIGINATIONS (1)
One–to–four family residential real estate	$	721			$	836			$	695			$	647			$	1,290
Multi–family mortgage	6,960				9,258				27,871				71,101				31,633
Nonresidential real estate	387				4,100				1,641				7,120				1,166
Commercial loans	141,314				153,537				155,123				171,048				164,974
Commercial leases	30,998				34,959				27,611				52,929				27,296
Consumer	852				842				1,174				913				695
	$	181,232			$	203,532			$	214,115			$	303,758			$	227,054
Weighted average rate	5.75		%		6.27		%		6.15		%		5.91		%		5.96		%
LOAN PAYMENTS and PAYOFFS (2)
One–to–four family residential real estate	$	4,127			$	3,415			$	4,195			$	7,590			$	7,135
Multi–family mortgage	49,374				23,685				13,308				35,135				19,804
Nonresidential real estate	6,802				7,165				5,542				4,315				8,890
Construction and land	28				27				27				27				184
Commercial loans	130,208				167,352				170,387				151,768				161,359
Commercial leases	44,035				39,633				37,259				50,742				46,885
Consumer	703				800				781				868				762
	$	235,277			$	242,077			$	231,499			$	250,445			$	245,019
Weighted average rate	5.45		%		5.91		%		5.91		%		5.59		%		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.

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BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

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

	2019												2018
	IIIQ				IIQ				IQ				IVQ				IIIQ
CREDIT QUALITY:
Nonperforming Assets:
Nonaccrual loans:
One–to–four family residential real estate	$	1,160			$	923			$	844			$	1,240			$	1,369
Multi–family mortgage	—				—				—				—				102
Nonresidential real estate	282				2,080				242				270				—
Commercial loans	—				—				354				—				—
Nonaccrual loans	1,442				3,003				1,440				1,510				1,471
Other real estate owned:
One–to–four family residential real estate	269				497				921				875				634
Multi–family mortgage	—				—				—				276				276
Nonresidential real estate	—				—				—				74				74
Land	—				—				—				1				1
Other real estate owned	269				497				921				1,226				985
Nonperforming assets	$	1,711			$	3,500			$	2,361			$	2,736			$	2,456
Asset Quality Ratios
Nonperforming assets to total assets	0.11		%		0.23		%		0.15		%		0.17		%		0.16		%
Nonperforming loans to total loans	0.12				0.24				0.11				0.11				0.12
Nonperforming commercial-related loans to total commercial-related loans (1)	0.02				0.17				0.05				0.02				0.01
Nonperforming residential and consumer loans to total residential and consumer loans	1.85				1.40				1.23				1.72				1.73
Allowance for loan losses to nonperforming loans	527.25				260.54				580.14				560.93				550.85
Concentrations of Credit
Commercial real estate for FFIEC concentration limits	$	688,887			$	734,567			$	749,755			$	737,887			$	697,843
% FFIEC total capital	403.95		%		437.62		%		440.83		%		413.00		%		378.64		%
Multi–family mortgage loans - 50% risk based capital qualified (included above)	$	302,648			$	286,910			$	351,284			$	370,512			$	357,947
% FFIEC total capital	177.47		%		170.93		%		206.54		%		207.38		%		194.22		%
Commercial Leases - Investment rated	$	133,049			$	143,148			$	157,215			$	166,209			$	181,131
Commercial Leases - Other	142,751				145,959				132,535				133,185				115,972

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

Page 5

BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

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

	2019												2018
	IIIQ				IIQ				IQ				IVQ				IIIQ
SUBSTANDARD PERFORMING LOANS
One–to–four family residential real estate	$	577			$	487			$	384			$	365			$	409
Multi–family mortgage	211				213				214				216				310
Nonresidential real estate	93				93				95				98				99
Commercial loans	—				500				3,033				342				4,699
Consumer	3				1				9				7				10
	$	884			$	1,294			$	3,735			$	1,028			$	5,527
ALLOWANCE FOR LOAN LOSSES
Beginning balance	$	7,824			$	8,354			$	8,470			$	8,103			$	8,179
Charge–offs:
One–to–four family residential real estate	(44		)		(50		)		(23		)		(17		)		(84		)
Nonresidential real estate	(55		)		—				(28		)		(93		)		—
Commercial loans	—				(4,443		)		—								—
Consumer	(5		)		(10		)		(5		)		(12		)		(6		)
	(104		)		(4,503		)		(56		)		(122		)		(90		)
Recoveries:
One–to–four family residential real estate	5				6				17				76				25
Multi–family mortgage	8				8				8				8				8
Construction and land	—				—				—				—				2
Commercial loans	4				2				2				2				2
	17				16				27				86				37
Net charge–offs	(87		)		(4,487		)		(29		)		(36		)		(53		)
Provision for (recovery of ) loan losses	(134		)		3,957				(87		)		403				(23		)
Ending balance	$	7,603			$	7,824			$	8,354			$	8,470			$	8,103
Allowance for loan losses to total loans	0.62		%		0.61		%		0.64		%		0.64		%		0.64		%
Net charge–off ratio (1)	(0.03		)		(1.38		)		(0.01		)		(0.01		)		(0.02		)

(1) Annualized

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BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

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

	2019												2018
	IIIQ				IIQ				IQ				IVQ				IIIQ
DEPOSITS
Noninterest–bearing demand	$	208,347			$	213,966			$	222,328			$	230,041			$	225,446
Interest–bearing NOW accounts	274,752				278,405				266,402				275,830				283,561
Money market accounts	237,022				246,941				248,657				255,951				266,070
Savings deposits	149,431				153,414				155,505				152,334				155,232
Certificates of deposit - retail	344,327				348,685				341,266				332,053				275,160
Certificates of deposit - wholesale	74,946				88,796				92,588				106,275				90,301
	$	1,288,825			$	1,330,207			$	1,326,746			$	1,352,484			$	1,295,770
SELECTED AVERAGE BALANCES
Total average assets	$	1,498,380			$	1,529,033			$	1,553,484			$	1,548,292			$	1,540,522
Total average interest–earning assets	1,430,830				1,458,180				1,474,355				1,478,028				1,463,404
Average loans	1,239,774				1,297,548				1,304,385				1,296,108				1,274,788
Average securities	78,221				86,144				91,271				98,756				113,234
Average stock in FHLB & FRB	7,490				7,629				8,026				8,026				8,125
Average other interest–earning assets	105,345				66,859				70,673				75,138				67,257
Total average interest–bearing liabilities	1,090,766				1,107,540				1,120,957				1,108,397				1,098,424
Average interest–bearing deposits	1,089,596				1,106,439				1,106,582				1,085,611				1,059,929
Average borrowings	1,170				1,101				14,375				22,786				38,495
Average stockholders’ equity	173,698				175,452				184,957				188,643				194,745
SELECTED YIELDS AND COST OF FUNDS (1):
Total average interest–earning assets	4.61		%		4.54		%		4.55		%		4.33		%		4.17		%
Average loans	4.92				4.76				4.77				4.59				4.43
Average securities	2.58				2.80				2.67				2.38				2.20
Average other interest–earning assets	2.50				2.63				2.71				2.61				2.28
Total average interest–bearing liabilities	1.23				1.24				1.20				1.09				0.87
Average interest–bearing deposits	1.23				1.24				1.18				1.07				0.85
Average cost of total deposits	1.03				1.04				0.99				0.89				0.70
Average cost of retail and commercial deposits	1.13				1.13				1.08				0.97				0.75
Average cost of wholesale deposits and borrowings	2.48				2.39				2.29				2.09				1.77
Average cost of funds	1.03				1.04				1.00				0.90				0.72
Net interest rate spread	3.38				3.30				3.35				3.24				3.30
Net interest margin	3.67				3.60				3.64				3.52				3.51

(1)     Annualized

Page 7

BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

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

	2019												2018
	IIIQ				IIQ				IQ				IVQ				IIIQ
CAPITAL RATIOS
BankFinancial Corporation
Equity to total assets (end of period)	11.65		%		11.18		%		11.41		%		11.81		%		12.53		%
Tangible equity to tangible total assets (end of period)	11.65				11.18				11.40				11.80				12.53
Risk–based total capital ratio	16.17				15.17				15.47				16.33				17.40
Common Tier 1 (CET1)	15.47				14.49				14.76				15.61				16.67
Risk–based tier 1 capital ratio	15.47				14.49				14.76				15.61				16.67
Tier 1 leverage ratio	11.43				11.04				11.13				11.82				12.06
Tier 1 capital	$	171,050			$	168,461			$	172,486			$	182,404			$	185,015
BankFinancial, NA
Risk–based total capital ratio	15.46		%		14.46		%		14.58		%		15.30		%		16.61		%
Common Tier 1 (CET1)	14.76				13.78				13.86				14.57				15.88
Risk–based tier 1 capital ratio	14.76				13.78				13.86				14.57				15.88
Tier 1 leverage ratio	10.90				10.49				10.45				11.03				11.49
Tier 1 capital	$	162,818			$	159,917			$	161,723			$	170,194			$	176,199
COMMON STOCK AND DIVIDENDS
Stock Prices:
Close	$	11.90			$	13.99			$	14.87			$	14.95			$	15.94
High	14.29				15.63				16.06				16.06				18.08
Low	11.10				13.44				13.46				13.88				15.32
Common shares outstanding	15,373,964				15,373,964				15,644,499				16,481,514				17,206,303
Book value per share	$	11.31			$	11.15			$	11.26			$	11.36			$	11.16
Tangible book value per share	$	11.31			$	11.15			$	11.26			$	11.35			$	11.16
Cash dividends declared on common stock	$	0.10			$	0.10			$	0.10			$	0.10			$	0.10
Dividend payout ratio	39.18		%		191.78		%		46.35		%		22.74		%		46.65		%
Stock repurchases	$	—			$	4,001			$	12,840			$	10,691			$	4,103
Stock repurchases – shares	—				270,535				837,015				724,789				254,785
EARNINGS PER SHARE COMPUTATIONS
Net income	$	3,924			$	807			$	3,551			$	7,416			$	3,737
Weighted average basic and dilutive common shares outstanding	15,373,964				15,472,618				16,202,303				16,820,641				17,365,679
Basic and diluted earnings per common share	$	0.26			$	0.05			$	0.22			$	0.44			$	0.22

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