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Note 16 - Company Only Condensed Financial Information

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

NOTE 16 – COMPANY ONLY CONDENSED FINANCIAL INFORMATION

Condensed financial information of BankFinancial Corporation as of December 31, 2022 and 2021 and for the two years then ended are as follows:

Condensed Statements of Financial Condition

		December 31,
		2022				2021
Assets
Cash in subsidiary		$	8,512			$	8,211
Investment in subsidiary			160,446				166,856
Deferred tax asset			595				587
Other assets			1,868				1,502
		$	171,421			$	177,156
Liabilities and Stockholders' Equity
Subordinated notes, net of unamortized issuance costs		$	19,634			$	19,590
Accrued expenses and other liabilities			116				100
Total stockholders’ equity			151,671				157,466
		$	171,421			$	177,156

Condensed Statements of Operations

		For the years ended December 31,
		2022				2021
Dividends from subsidiary		$	12,500			$	3,500
Interest expense			794				567
Other expense			1,619				1,595
Income before income tax and undistributed subsidiary excess distributions			10,087				1,338
Income tax benefit			(625	)			(761	)
Income before equity in undistributed subsidiary excess distributions			10,712				2,099
Equity in undistributed subsidiary (excess distributions)			(218	)			5,311
Net income		$	10,494			$	7,410

Condensed Statements of Cash Flows

		For the years ended December 31,
		2022				2021
Cash flows from operating activities
Net income		$	10,494			$	7,410
Adjustments:
Amortization			44				31
Equity in undistributed subsidiary excess distributions			218				(5,311	)
Change in other assets			(374	)			(1,038	)
Change in accrued expenses and other liabilities			16				(695	)
Net cash from operating activities			10,398				397
Cash flows used in financing activities
Proceeds from issuance of subordinated notes			—				20,000
Costs paid for issuance of subordinated notes			—				(441	)
Repurchase and retirement of common stock			(4,866	)			(17,122	)
Cash dividends paid on common stock			(5,231	)			(5,619	)
Net cash used in financing activities			(10,097	)			(3,182	)
Net change in cash in subsidiary			301				(2,785	)
Beginning cash in subsidiary			8,211				10,996
Ending cash in subsidiary		$	8,512			$	8,211

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- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section S99
-Paragraph 6
-Subparagraph (SX 210.5-04(Schedule I))
-URI https://asc.fasb.org/extlink&oid=126898705&loc=d3e5864-122674

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 11
-URI https://asc.fasb.org/extlink&oid=126929396&loc=d3e5283-111683

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

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X

- References

No definition available.

+ Details

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