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Note 16 - Company Only Condensed Financial Information

12 Months Ended

Dec. 31, 2023

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, 2023 and 2022 and for the two years then ended are as follows:

Condensed Statements of Financial Condition

		December 31,
		2023				2022
Assets
Cash in subsidiary		$	7,273			$	8,512
Due from other financial institutions			7,000				—
Investment in subsidiary			158,748				160,446
Deferred tax asset			624				595
Other assets			1,542				1,868
		$	175,187			$	171,421
Liabilities and Stockholders' Equity
Subordinated notes, net of unamortized issuance costs		$	19,678			$	19,634
Accrued expenses and other liabilities			126				116
Total stockholders’ equity			155,383				151,671
		$	175,187			$	171,421

Condensed Statements of Operations

		For the years ended December 31,
		2023				2022
Dividends from subsidiary		$	14,700			$	12,500
Interest expense			794				794
Other expense			1,689				1,619
Income before income tax and undistributed subsidiary excess distributions			12,217				10,087
Income tax benefit			(642	)			(625	)
Income before equity in undistributed subsidiary excess distributions			12,859				10,712
Equity in undistributed subsidiary (excess distributions)			(3,466	)			(218	)
Net income		$	9,393			$	10,494

Condensed Statements of Cash Flows

		For the years ended December 31,
		2023				2022
Cash flows from operating activities
Net income		$	9,393			$	10,494
Adjustments:
Amortization			44				44
Equity in undistributed subsidiary excess distributions			3,466				218
Change in other assets			297				(374	)
Change in accrued expenses and other liabilities			10				16
Net cash from operating activities			13,210				10,398
Cash flows used in financing activities
Repurchase and retirement of common stock			(2,393	)			(4,866	)
Cash dividends paid on common stock			(5,056	)			(5,231	)
Net cash used in financing activities			(7,449	)			(10,097	)
Net change in cash and cash equivalents			5,761				301
Beginning cash and cash equivalents			8,512				8,211
Ending cash and cash equivalents		$	14,273			$	8,512

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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
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.5-04(Schedule I))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480922/205-10-S99-6

Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-11

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X

- References

No definition available.

+ Details

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