BankFinancial Announces an Outstanding Rating on CRA Exam

Rhea-AI Summary

Bank Financial Corporation announced that its subsidiary, BankFinancial, N.A., has achieved an "outstanding" rating in its Community Reinvestment Act (CRA) performance evaluation for the 2019-2021 period. This marks the bank's tenth consecutive outstanding rating. CEO F. Morgan Gasior emphasized the significance of this accolade in light of the challenges posed by the coronavirus crisis. The CRA evaluation highlighted the bank's excellent responsiveness to community credit needs and significant investments in low- or moderate-income areas.

Positive

• Achieved an "outstanding" rating for CRA performance evaluation for 2019-2021, marking the tenth consecutive outstanding rating.
• Demonstrated excellent responsiveness to community credit needs, positively impacting performance.
• Made significant investments, grants, and donations to address community development needs.

Negative

• None.

BURR RIDGE, Ill., July 29, 2022 (GLOBE NEWSWIRE) -- BankFinancial Corporation today announced that its subsidiary, BankFinancial, N.A., has received a rating of “outstanding” in its most recent Community Reinvestment Act (CRA) performance evaluation, for the 2019-2021 period. The 2022 CRA Public Evaluation marks BankFinancial’s tenth consecutive Outstanding CRA rating.

“As we emerge from the coronavirus crisis and the many challenges faced by businesses and families in our communities, receiving an “Outstanding” assessment of our Community Reinvestment Act efforts is particularly meaningful, as it is our tenth consecutive “Outstanding” rating,” says F. Morgan Gasior, BankFinancial, N.A. CEO. “BankFinancial has an unwavering commitment to provide banking services across the communities we serve, especially to multi-family residential real estate investors and small businesses in low-to-moderate income areas. We are proud to have earned the highest CRA rating in recognition of our hard work and dedication to helping our community prosper.”

The CRA Performance Evaluation notes that BankFinancial provides:

• Excellent responsiveness to meeting the credit needs in the BankFinancial assessment area, given the bank’s product mix, business strategy, and community development activities had a significantly positive impact on the bank’s performance.
• Extensive use of innovative or flexible practices in a safe and sound manner to address the credit needs of low- or moderate-income individuals or geographies.
• Excellent responsiveness to the community development needs, as they made a significant level of investments, grants, and donations.
• High level of community development services.

BankFinancial will place the performance evaluation in the Bank’s public file by August 1, 2022, and it can be found on BankFinancial.com.

About BankFinancial NA

BankFinancial, N.A. is a national bank providing banking, wealth management and fiduciary services to individuals, families, and businesses in the Chicago metropolitan area and on a regional or national basis for commercial finance, equipment finance, multi-family and commercial real estate loans, and treasury management business customers. BankFinancial, N.A. is the national bank subsidiary of BankFinancial Corporation (NASDAQ: BFIN).

Media Inquiries

Gregg T. Adams
BankFinancial, NA
President - Marketing & Sales
T: 630-242-7234

FAQ

What did Bank Financial Corporation announce in July 2022?

Bank Financial Corporation announced that its subsidiary, BankFinancial, N.A., received an "outstanding" rating in its Community Reinvestment Act performance evaluation for the 2019-2021 period.

How many consecutive outstanding CRA ratings has Bank Financial received?

Bank Financial has received ten consecutive outstanding CRA ratings.

What areas does Bank Financial focus on in its community development efforts?

Bank Financial focuses on providing services to multi-family residential real estate investors and small businesses in low-to-moderate income areas.

When will the CRA performance evaluation be made public?

The CRA performance evaluation will be placed in the bank's public file by August 1, 2022.

What is the significance of the outstanding CRA rating for Bank Financial?

The outstanding CRA rating signifies Bank Financial's commitment to meeting the credit needs of the communities it serves, especially in challenging economic times.