EX-99.2 3 ex_273932.htm EXHIBIT 99.2

ex_273932.htm

Exhibit 99.2

BANKFINANCIAL CORPORATION

Third QUARTER 2021

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)

			2021												2020
		IIIQ				IIQ				IQ				IVQ				IIIQ
PERFORMANCE MEASUREMENTS
Return on assets (ratio of net income to average total assets) (1)			0.40	%			0.47	%			0.37	%			0.62	%			0.49	%
Return on equity (ratio of net income to average equity) (1)			4.05				4.52				3.40				5.63				4.50
Net interest rate spread (1)			2.68				2.67				2.73				2.92				2.69
Net interest margin (1)			2.75				2.75				2.81				3.03				2.85
Efficiency ratio (2)			81.96				83.94				86.05				74.40				79.82
Noninterest expense to average total assets (1)			2.45				2.50				2.56				2.46				2.45
Average interest–earning assets to average interest–bearing liabilities			138.97				140.97				141.49				142.75				141.40
Number of full service offices			19				19				19				19				19
Employees (full time equivalents)			224				218				220				210				210
SUMMARY STATEMENT OF FINANCIAL CONDITION
ASSETS
Cash and due from other financial institutions		$	11,432			$	12,185			$	9,567			$	14,115			$	13,740
Interest-bearing deposits in other financial institutions			517,183				523,851				489,016				489,381				415,925
Securities, at fair value			14,693				18,883				20,751				23,829				42,048
Loans receivable, net			1,047,056				1,032,159				1,028,840				1,002,578				1,065,892
Foreclosed assets, net			1,049				1,702				4,630				157				110
Stock in Federal Home Loan Bank and Federal Reserve Bank, at cost			7,490				7,490				7,490				7,490				7,490
Premises and equipment, net			24,772				24,765				24,726				24,675				24,241
Bank-owned life insurance			19,097				19,066				19,036				19,015				18,996
Deferred taxes			2,348				2,363				2,473				2,741				3,520
Other assets			15,022				14,158				13,856				12,861				12,981
Total assets		$	1,660,142			$	1,656,622			$	1,620,385			$	1,596,842			$	1,604,943
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits		$	1,454,389			$	1,438,574			$	1,422,037			$	1,393,544			$	1,402,244
Borrowings			5,000				5,000				4,000				4,000				4,000
Subordinated Notes, net of unamortized issuance costs			19,578				19,568				—				—				—
Other liabilities			23,002				27,044				22,915				26,368				26,302
Total liabilities			1,501,969				1,490,186				1,448,952				1,423,912				1,432,546
Stockholders’ equity			158,173				166,436				171,433				172,930				172,397
Total liabilities and stockholders’ equity		$	1,660,142			$	1,656,622			$	1,620,385			$	1,596,842			$	1,604,943

⁽¹⁾ Annualized

⁽²⁾ 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)

		2021												2020
		IIIQ				IIQ				IQ				IVQ				IIIQ
SUMMARY STATEMENT OF OPERATIONS
Total interest income		$	11,748			$	11,497			$	11,248			$	12,543			$	12,485
Total interest expense			718				722				668				947				1,488
Net interest income			11,030				10,775				10,580				11,596				10,997
Recovery of loan losses			(6	)			(678	)			(335	)			(271	)			(187	)
Net interest income after recovery of loan losses			11,036				11,453				10,915				11,867				11,184
Noninterest income			1,374				1,426				1,258				1,541				1,264
Noninterest expense			10,166				10,241				10,187				9,774				9,787
Income before income tax			2,244				2,638				1,986				3,634				2,661
Income tax expense (1)			600				712				517				1,189				713
Net income		$	1,644			$	1,926			$	1,469			$	2,445			$	1,948
Basic and diluted earnings per common share		$	0.12			$	0.13			$	0.10			$	0.17			$	0.13
NONINTEREST INCOME AND EXPENSE
Noninterest Income
Deposit service charges and fees		$	814			$	800			$	738			$	740			$	833
Loan servicing fees			140				141				55				363				44
Mortgage brokerage and banking fees			16				5				12				14				44
Trust insurance commissions and annuities income			263				283				334				233				222
Earnings on bank-owned life insurance			31				30				21				19				10
Other			110				167				98				172				111
Total noninterest income		$	1,374			$	1,426			$	1,258			$	1,541			$	1,264
Noninterest Expense
Compensation and benefits		$	5,782			$	5,558			$	5,471			$	5,239			$	5,398
Office occupancy and equipment			1,882				1,951				2,138				1,978				1,860
Advertising and public relations			150				179				196				159				135
Information technology			710				653				658				741				781
Professional fees			311				343				370				412				341
Supplies, telephone, and postage			382				442				400				357				288
Amortization of intangibles			—				—				7				7				6
Nonperforming asset management			6				8				41				(8	)			57
Operations of foreclosed assets, net			81				232				53				4				23
FDIC insurance premiums			125				114				106				107				105
Other			737				761				747				778				793
Total noninterest expense		$	10,166			$	10,241			$	10,187			$	9,774			$	9,787

⁽¹⁾ Income tax expense for the quarter ended December 31, 2020 includes a $200,000 valuation reserve related to the Company's Illinois NOL carryforward.

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BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

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

		2021												2020
		IIIQ				IIQ				IQ				IVQ				IIIQ
LOANS
One–to–four family residential real estate		$	31,829			$	34,762			$	38,236			$	41,691			$	44,812
Multi–family mortgage			435,634				434,635				440,824				452,241				522,825
Nonresidential real estate			100,469				100,008				112,154				108,658				124,477
Construction and land			499				499				499				499				—
Commercial loans and leases			483,705				467,461				442,706				405,057				379,638
Consumer			1,760				1,796				1,756				1,812				1,784
			1,053,896				1,039,161				1,036,175				1,009,958				1,073,536
Net deferred loan origination fees and costs			55				(145	)			60				371				367
Allowance for loan losses			(6,895	)			(6,857	)			(7,395	)			(7,751	)			(8,011	)
Loans, net		$	1,047,056			$	1,032,159			$	1,028,840			$	1,002,578			$	1,065,892
LOAN ORIGINATIONS (1)
One–to–four family residential real estate		$	332			$	349			$	403			$	290			$	557
Multi–family mortgage			33,296				25,486				20,680				16,024				12,593
Nonresidential real estate			2,988				581				5,046				61				217
Construction and land			—				—				—				499				—
Commercial loans			125,404				83,548				77,072				72,441				40,439
Equipment finance			51,890				57,077				67,913				75,491				58,864
Consumer			584				652				605				640				590
		$	214,494			$	167,693			$	171,719			$	165,446			$	113,260
Weighted average interest rate			4.33	%			4.20	%			3.87	%			4.16	%			4.04	%
LOAN PAYMENTS and PAYOFFS (2)
One–to–four family residential real estate		$	3,364			$	3,870			$	3,897			$	3,396			$	4,711
Multi–family mortgage			32,362				31,554				32,737				86,003				26,630
Nonresidential real estate			2,613				12,643				1,627				15,881				3,159
Commercial loans			111,666				83,991				70,531				82,006				56,765
Equipment finance			49,241				31,856				31,547				40,746				38,804
Consumer			610				622				634				614				580
		$	199,856			$	164,536			$	140,973			$	228,646			$	130,649
Weighted average interest rate			4.38	%			4.44	%			4.27	%			4.57	%			4.49	%

⁽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)

		2021													2020
		IIIQ				IIQ				IQ				IVQ				IIIQ
CREDIT QUALITY:
Nonperforming Assets:
Nonaccrual loans:
One–to–four family residential real estate		$	341			$	588			$	384			$	925			$	465
Nonresidential real estate			296				296				296				296				1,870
Equipment finance - investment-rated			9				—				—				—				—
Nonaccrual loans			646				884				680				1,221				2,335
Foreclosed assets, net
Other real estate owned:
One–to–four family residential real estate			112				335				695				157				110
Nonresidential real estate			140				140				170				—				—
Other real estate owned			252				475				865				157				110
Other foreclosed assets			797				1,227				3,765				—				—
Foreclosed assets, net			1,049				1,702				4,630				157				110
Nonperforming assets		$	1,695			$	2,586			$	5,310			$	1,378			$	2,445
Asset Quality Ratios
Nonperforming assets to total assets			0.10	%			0.16	%			0.33	%			0.09	%			0.15	%
Nonperforming loans to total loans (1)			0.06				0.09				0.07				0.12				0.22
Nonperforming commercial-related loans to total commercial-related loans (2)			0.03				0.03				0.03				0.03				0.18
Nonperforming residential and consumer loans to total residential and consumer loans			1.02				1.61				0.96				2.13				1.00
Allowance for loan losses to nonperforming loans			1,067.34				775.68				1,087.50				634.81				343.08
Concentrations of Credit
Commercial real estate for FFIEC concentration limits		$	514,777			$	513,165			$	528,906			$	540,837			$	622,273
% FFIEC total capital			298.54	%			299.52	%			312.12	%			321.95	%			366.52	%
Multi–family mortgage loans - 50% risk based capital qualified (included above)		$	73,776			$	130,984			$	207,531			$	238,124			$	278,271
% FFIEC total capital			42.79	%			76.45	%			122.47	%			141.75	%			163.90	%

⁽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, construction and land, 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)

			2021												2020
		IIIQ				IIQ				IQ				IVQ				IIIQ
SUBSTANDARD PERFORMING LOANS
One–to–four family residential real estate		$	509			$	390			$	628			$	486			$	517
Nonresidential real estate			—				—				82				84				1,196
Commercial loans and leases			1,191				—				11				5,891				1,296
Consumer			7				4				4				5				5
		$	1,707			$	394			$	725			$	6,466			$	3,014
ALLOWANCE FOR LOAN LOSSES
Beginning balance		$	6,857			$	7,395			$	7,751			$	8,011			$	8,156
Charge–offs:
One-to-four family residential real estate			—				—				—				(2	)			(2	)
Commercial loans and leases			—				—				(86	)			—				—
Consumer			(2	)			(6	)			(9	)			(18	)			(14	)
			(2	)			(6	)			(95	)			(20	)			(16	)
Recoveries:
One-to-four family residential real estate			38				49				60				19				2
Multi-family mortgage			7				10				11				11				56
Commercial loans and leases			1				87				1				1				—
Consumer			—				—				2				—				—
			46				146				74				31				58
Net recoveries (charge–offs)			44				140				(21	)			11				42
Recovery of loan losses			(6	)			(678	)			(335	)			(271	)			(187	)
Ending balance		$	6,895			$	6,857			$	7,395			$	7,751			$	8,011
Allowance for loan losses to total loans			0.65	%			0.66	%			0.71	%			0.77	%			0.75	%
Net recoveries (charge–offs) ratio (1)			0.02				0.05				(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)

			2021												2020
		IIIQ				IIQ				IQ				IVQ				IIIQ
DEPOSITS
Noninterest–bearing demand		$	328,182			$	325,294			$	334,463			$	326,188			$	328,915
Interest–bearing NOW accounts			392,273				368,902				341,517				336,994				316,976
Money market accounts			319,857				322,753				318,449				297,801				283,236
Savings deposits			196,810				196,701				191,018				179,561				171,766
Certificates of deposit - retail			213,320				220,482				230,407				245,823				278,560
Certificates of deposit - wholesale			3,947				4,442				6,183				7,177				22,791
		$	1,454,389			$	1,438,574			$	1,422,037			$	1,393,544			$	1,402,244
SELECTED AVERAGE BALANCES
Total average assets		$	1,657,862			$	1,641,003			$	1,592,419			$	1,588,887			$	1,599,148
Total average interest–earning assets			1,592,482				1,573,429				1,528,472				1,524,087				1,534,324
Average loans			1,045,586				1,041,696				1,010,682				1,047,244				1,080,521
Average securities			16,915				20,735				21,207				36,180				52,265
Average stock in FHLB & FRB			7,490				7,490				7,490				7,490				7,490
Average other interest–earning assets			522,491				503,508				489,093				433,173				394,048
Total average interest–bearing liabilities			1,145,887				1,116,105				1,080,271				1,067,628				1,085,129
Average interest–bearing deposits			1,121,314				1,094,589				1,076,271				1,063,628				1,081,129
Average borrowings and Subordinated Notes			24,573				21,516				4,000				4,000				4,000
Average stockholders’ equity			162,361				170,509				172,841				173,649				173,266
SELECTED YIELDS AND COST OF FUNDS (1)
Total average interest–earning assets			2.93	%			2.93	%			2.98	%			3.27	%			3.24	%
Average loans			4.32				4.31				4.39				4.62				4.43
Average securities			1.08				1.01				1.03				1.06				1.39
Average other interest–earning assets			0.17				0.13				0.15				0.18				0.19
Total average interest–bearing liabilities			0.25				0.26				0.25				0.35				0.55
Average interest–bearing deposits			0.18				0.20				0.25				0.35				0.55
Average cost of total deposits			0.14				0.16				0.19				0.27				0.42
Average cost of retail and commercial deposits			0.18				0.19				0.24				0.33				0.49
Average cost of wholesale deposits, borrowings and Subordinated Notes			3.08				3.02				1.54				1.85				2.21
Average cost of funds			0.19				0.20				0.19				0.27				0.42
Net interest rate spread			2.68				2.67				2.73				2.92				2.69
Net interest margin			2.75				2.75				2.81				3.03				2.85

⁽¹⁾ Annualized

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BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

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

			2021												2020
		IIIQ				IIQ				IQ				IVQ				IIIQ
CAPITAL RATIOS
BankFinancial Corporation (1)
Equity to total assets (end of period)			9.53	%			10.05	%			10.58	%			10.83	%			10.74	%
Tangible equity to tangible total assets (end of period)			9.53				10.05				10.58				10.83				10.74
Risk–based total capital ratio			19.22				21.16				20.10				20.07				18.68
Common Tier 1 (CET1)			16.44				18.19				19.26				19.20				17.84
Risk–based tier 1 capital ratio			16.44				18.19				19.26				19.20				17.84
Tier 1 leverage ratio			9.45				10.05				10.67				10.79				10.66
Tier 1 capital		$	156,632			$	164,862			$	169,768			$	171,240			$	170,271
BankFinancial, NA (2)
Risk–based total capital ratio			18.11	%			18.92	%			19.23	%			18.84	%			17.80	%
Common Tier 1 (CET1)			17.39				18.17				18.39				17.97				16.96
Risk–based tier 1 capital ratio			17.39				18.17				18.39				17.97				16.96
Tier 1 leverage ratio			10.00				10.03				10.19				10.10				10.13
Tier 1 capital		$	165,537			$	164,471			$	162,059			$	160,236			$	161,770
COMMON STOCK AND DIVIDENDS
Stock Prices:
Close		$	11.48			$	11.44			$	10.32			$	8.78			$	7.22
High			12.79				11.96				11.23				9.10				8.70
Low			10.62				10.04				8.48				7.14				6.81
Common shares outstanding			13,374,133				14,118,720				14,623,659				14,769,765				14,824,628
Book value per share		$	11.83			$	11.79			$	11.72			$	11.71			$	11.63
Tangible book value per share		$	11.83			$	11.79			$	11.72			$	11.71			$	11.63
Cash dividends declared on common stock		$	0.10			$	0.10			$	0.10			$	0.10			$	0.10
Dividend payout ratio			83.58	%			75.10	%			100.29	%			60.43	%			76.13	%
Stock repurchases		$	8,503			$	5,457			$	1,488			$	416			$	518
Stock repurchases – shares			744,587				504,939				146,106				54,863				66,000
EARNINGS PER SHARE COMPUTATIONS
Net income		$	1,644			$	1,926			$	1,469			$	2,445			$	1,948
Weighted average basic and dilutive common shares outstanding			13,722,333				14,433,748				14,723,769				14,783,042				14,842,150
Basic and diluted earnings per common share		$	0.12			$	0.13			$	0.10			$	0.17			$	0.13

⁽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.  Pursuant to the Coronavirus Aid, Relief, and Economic Security Act of 2021, the Bank's required minimum Community Bank Leverage Ratio is 8.50%. 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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