BankFinancial Corporation Extends and Expands Share Repurchase Program
BankFinancial Corporation has extended its share repurchase authorization to May 15, 2022, increasing the total number of shares authorized for repurchase by 200,000. As of October 28, 2021, 92,222 shares remain under the previous authorization, making a total of 292,222 shares available for repurchase. The program allows for flexible execution in accordance with SEC regulations and aims to be funded by working capital. Share repurchases will depend on market conditions and the company’s financial liquidity.
- Increased share repurchase authorization by 200,000 shares enhances shareholder value.
- Total shares authorized for repurchase now stands at 292,222.
- Repurchases are contingent on adequate liquidity, which may limit execution.
- Suspension or modification of repurchases is possible due to market conditions.
BURR RIDGE, Ill., Oct. 29, 2021 (GLOBE NEWSWIRE) -- The Board of Directors of BankFinancial Corporation (the "Company") extended the expiration date of the Company's share repurchase authorization from November 15, 2021 to May 15, 2022, and increased the total number of shares currently authorized for repurchase under the Share Repurchase Program by 200,000 shares. As of October 28, 2021, a total of 92,222 shares remained authorized for purchase pursuant to the previous share repurchase authorization. Therefore, as of October 28, 2021, the total number of shares authorized for repurchase is 292,222. The share repurchase authorization remains in effect through May 15, 2022.
The authorization permits shares to be repurchased in open market or negotiated transactions, and pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission. The authorization will be utilized at management’s discretion, subject to price, volume and other internal limitations that will be established by the Company’s Board of Directors, and to the limitations set forth in Rule 10b-18 of the Securities and Exchange Commission and other applicable legal requirements. Share repurchases will be funded from specifically-allocated working capital, if and as available.
The authorization does not obligate the Company to purchase any particular number of shares at any given price per share at any time. The implementation of the authorization is contingent upon adequate liquidity to consummate the authorized repurchases at then current market prices, including the proceeds from the potential future declaration of dividends from the Company’s bank subsidiary. Share repurchases may be suspended, terminated or modified at any time for any reason, including market prices for the Company’s stock and other market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, sufficient liquidity to consummate repurchases, and other factors deemed appropriate. These factors, as well as internal restrictions on trading in the Company's shares during specific time periods, may also affect the timing and amount of share repurchases.
BankFinancial Corporation is the holding company for BankFinancial, NA, 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, commercial real estate finance and treasury management business customers. BankFinancial Corporation's common stock trades on the Nasdaq Global Select Market under the symbol “BFIN.” Additional information may be found at the company's website, www.bankfinancial.com. At June 30, 2021, BankFinancial had total assets of
This release includes “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Such statements may be identified by words such as "believes," "will," "expects," "project," "may," "could," "anticipate," "estimates," "intends," "plans" and similar expressions. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties. A variety of factors could cause the Company's actual results to differ from those expected at the time of this release. For a discussion of some of the factors that may cause actual results to differ from expectations, please refer to the Company's most recent Annual Report on Form 10-K as filed with the SEC. Investors are urged to review all information contained in these reports, including the risk factors discussed therein. Copies of these filings are available at no cost on the SEC's web site at http://www.sec.gov or at http://www.bankfinancial.com. Forward looking statements speak only as of the date they are made, and the Company does not undertake to update them to reflect changes.
| For Further Information Contact: | |
| Shareholder, Analyst and Investor Inquiries: | Media Inquiries: |
| Elizabeth A. Doolan Senior Vice President – Controller BankFinancial Corporation Telephone: 630-242-7151 | Gregg T. Adams President – Marketing & Sales BankFinancial, NA Telephone: 630-242-7234 |
FAQ
What is the new share repurchase authorization amount for BFIN?
When does the share repurchase program for BFIN expire?
How will BankFinancial's share repurchases be funded?
What factors could affect BFIN's share repurchase execution?
