BankFinancial CORP (NASDAQ: BFIN)

BankFinancial Corporation, or BFIN, is a Maryland-based bank holding company operating primarily in the Chicago metropolitan area, with a ticker symbol of BFIN. Its primary subsidiary, BankFinancial, National Association, offers a variety of financial products and services to individuals, families, and businesses.

BFIN's main business activities encompass making loans and accepting deposits, with a lending area covering the counties where its branch offices are located, as well as neighboring counties in Illinois. The bank's loan portfolio consists primarily of multi-family residential real estate loans, nonresidential real estate loans, and commercial loans and leases. As of December 31, 2023, the bank's loan portfolio totaled $1.039 billion, with a significant portion of 49.8% allocated to multi-family residential real estate loans. Additionally, the bank provides deposit products such as savings accounts, NOW accounts, checking accounts, money market accounts, certificates of deposit, and IRAs.

BFIN's range of services extends beyond lending and deposits. The company offers trust and financial planning services through its Trust Department and insurance products through its wholly-owned subsidiary, Financial Assurance Services, Inc. BFIN Asset Recovery Company, LLC, another wholly-owned subsidiary, handles the sale of bank-owned real estate acquired through foreclosure and collection actions.

In the banking industry, BFIN faces stiff competition from larger institutions in the Chicago metropolitan area. However, the company distinguishes itself by emphasizing personalized service and efficient decision-making tailored to individual needs.

BFIN's customers originate from the Chicago metropolitan area and include both retail and commercial entities. Among these are commercial finance, healthcare finance, equipment finance, commercial real estate finance, and treasury management business customers.

In terms of employee composition, BFIN has a total of 226 employees, with 183 full-time and 43 part-time employees. The company enjoys a positive working relationship with its employees, who are not represented by a collective bargaining unit.

The company's brand names and trade names include BankFinancial, Financial Assurance Services, Inc., and BFIN Asset Recovery Company, LLC, all of which contribute to its diverse range of financial services.

Regulated by the Office of the Comptroller of the Currency (OCC), BFIN adheres to federal banking regulations, including capital requirements and lending limits. The company is deemed well-capitalized under the prompt corrective action framework, with a Tier 1 leverage ratio of 10.85% and a total risk-based capital ratio of 10.5%.

Under the Community Reinvestment Act (CRA), BFIN is obligated to meet the credit needs of its communities. Furthermore, the company complies with various federal securities laws and regulations, such as the Securities Exchange Act of 1934 and the Sarbanes-Oxley Act of 2002.

References:
BankFinancial Corporation. (2023). BankFinancial Corporation Annual Report on Form 10-K for the Fiscal Year Ended December 31, 2023. United States Securities and Exchange Commission.