Welcome to our dedicated page for BankFinancial Corporation news (Ticker: BFIN), a resource for investors and traders seeking the latest updates and insights on BankFinancial Corporation stock.
BankFinancial Corporation (BFIN) is a national financial institution specializing in commercial, family, and personal banking services. Established in 1924, BankFinancial has a long history of assisting customers from diverse backgrounds in achieving their financial goals. The bank provides a comprehensive suite of financial products and services, including loans, deposits, trust services, and investment tools.
BankFinancial operates through multiple full-service banking offices located in Cook, DuPage, Lake, and Will Counties, Illinois, as well as through its Internet Branch. This wide reach ensures that customers have easy access to a range of financial solutions tailored to meet their needs.
Notably, BankFinancial is known for its customer-centric approach, providing tools and resources that empower clients to take control of their financial future. Whether it’s saving for college, buying a home, growing a business, or planning for retirement, the bank offers products designed to make these milestones achievable.
BankFinancial has recently made headlines with the appointment of a highly accomplished leader in the Equipment Finance division, reinforcing its commitment to superior performance and customer experience. For the second quarter of 2024, the bank projects that cash and cash equivalent assets will constitute between 9% and 12% of total assets, with expectations for the second half of the year slightly adjusted to 8% to 11%.
As a Member FDIC and an Equal Housing Lender, BankFinancial adheres to high standards of security and fairness, ensuring that all customers receive the best possible service and support. With its broad range of loan, deposit, and trust products, BankFinancial continues to be a reliable partner for individuals and businesses alike.
BankFinancial has announced the appointment of Forrester Faia as Vice President and Regional Commercial Financial Leader for the Illinois market. With over 25 years of expertise in commercial finance, Faia will focus on connecting Chicago-area companies with BankFinancial's commercial banking services.
The bank emphasizes its unique position as the only institution offering a hybrid product allowing customers to switch between financing options without refinancing. Key advantages include direct lending with competitive pricing, an exclusive prime rate discount of 1.00% below the WSJ published rate, a dedicated business servicing team, and comprehensive in-house loan servicing.
This strategic addition aligns with BankFinancial's commitment to providing middle-market businesses with tailored financial solutions, including receivables financing and working lines of credit, designed to enhance cash flow and support growth.
BankFinancial reported net income of $1.7 million, total assets of $1.480 billion, total loans of $1.008 billion, and stockholders' equity of $156 million for the first quarter of 2024. Interest income increased by $422,000, but noninterest income decreased by $164,000. The company repurchased common shares and subordinated notes, with a Tier 1 leverage ratio of 10.59%. The second quarter outlook includes expectations for loan and deposit growth, stable net interest margin, and increasing noninterest income.
BankFinancial (Nasdaq: BFIN) declared a cash dividend of $0.10 per common share, payable on May 24, 2024, to stockholders of record on May 10, 2024. At December 31, 2023, the company had total assets of $1.487 billion, total loans of $1.051 billion, total deposits of $1.262 billion, and stockholders' equity of $155 million.
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