BankFinancial CORP - FORM 8-K - EX-99.2 - EXHIBIT 99.2

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EX-99.1 - EXHIBIT 99.1 - BankFinancial CORP	bfin201912ex991earningspr.htm
8-K - 8-K - BankFinancial CORP	bfin2019128kresults.htm

Exhibit 99.2

BANKFINANCIAL CORPORATION

FOURTH QUARTER 2019

QUARTERLY FINANCIAL AND STATISTICAL SUPPLEMENT

FOR THE LATEST FIVE QUARTERS

Note: Certain reclassifications have been made in the prior period’s financial statements and reflected in the Selected Quarterly Financial and Statistical Data tables to conform to the current period’s presentation.

The information and statistical data contained herein have been prepared by BankFinancial Corporation and have been derived or calculated from selected quarterly and period–end historical financial statements prepared in accordance with accounting principles generally accepted in the United States. BankFinancial Corporation is under no obligation to update, keep current, or continue to provide the information contained herein. This information is provided solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or establish any business relationships with BankFinancial Corporation or its subsidiary.

BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

(Dollars in thousands; except per share) – (Unaudited)



	2019												2018
	IVQ			IIIQ			IIQ			IQ			IVQ
PERFORMANCE MEASUREMENTS
Return on assets (ratio of net income to average total assets) ⁽¹⁾	0.91		%	1.05		%	0.21		%	0.91		%	1.92		%
Return on equity (ratio of net income to average equity)⁽¹⁾	7.71			9.04			1.84			7.68			15.72
Net interest rate spread ⁽¹⁾	3.23			3.38			3.30			3.35			3.24
Net interest margin ⁽¹⁾	3.50			3.67			3.60			3.64			3.52
Efficiency ratio	66.98			64.62			65.19			68.03			51.22
Noninterest expense to average total assets⁽¹⁾	2.56			2.54			2.48			2.60			2.88
Average interest–earning assets to average interest–bearing liabilities	132.47			131.18			131.66			131.53			133.35
Number of full service offices	19			19			19			19			19
Employees (full time equivalents)	222			223			231			235			236

SUMMARY STATEMENT OF FINANCIAL CONDITION
ASSETS
Cash and due from other financial institutions	$	9,785		$	13,074		$	13,998		$	12,016		$	13,805
Interest-bearing deposits in other financial institutions	180,540			127,719			89,609			66,206			84,399
Securities, at fair value	60,193			65,440			87,080			83,240			88,179
Loans receivable, net	1,168,008			1,213,948			1,267,454			1,306,475			1,323,793
Other real estate owned, net	186			269			497			921			1,226
Stock in Federal Home Loan Bank and Federal Reserve Bank, at cost	7,490			7,490			7,490			8,026			8,026
Premises and equipment, net	24,346			24,598			24,923			24,992			25,205
Bank-owned life insurance	18,945			18,914			18,877			18,839			18,809
Deferred taxes	3,873			4,556			4,816			5,023			6,235
Other assets	14,649			15,974			19,178			19,282			15,648
Total assets	$	1,488,015		$	1,491,982		$	1,533,922		$	1,545,020		$	1,585,325

LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits	$	1,284,757		$	1,288,825		$	1,330,207		$	1,326,746		$	1,352,484
Borrowings	61			1,253			798			16,106			21,049
Other liabilities	28,825			28,037			31,426			25,948			24,642
Total liabilities	1,313,643			1,318,115			1,362,431			1,368,800			1,398,175
Stockholders’ equity	174,372			173,867			171,491			176,220			187,150
Total liabilities and stockholders’ equity	$	1,488,015		$	1,491,982		$	1,533,922		$	1,545,020		$	1,585,325

(1)Annualized

Page 2

BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

(Dollars in thousands; except per share) – (Unaudited)



	2019											2018		For the years ended December 31,
	IVQ			IIIQ			IIQ		IQ			IVQ		2019			2018
SUMMARY STATEMENT OF OPERATIONS
Total interest income	$	15,732		$	16,628		$	16,522	$	16,526		$	16,146	$	65,408		$	61,287
Total interest expense	3,105			3,386			3,419		3,307			3,043		13,217			9,217
Net interest income before provision (recovery)	12,627			13,242			13,103		13,219			13,103		52,191			52,070
Provision for (recovery of) loan losses	89			(134		)	3,957		(87		)	403		3,825			145
Net interest income	12,538			13,376			9,146		13,306			12,700		48,366			51,925
Noninterest income	1,648			1,474			1,426		1,624			8,674		6,172			14,877
Noninterest expense	9,562			9,509			9,472		10,098			11,155		38,641			40,754
Income before income tax	4,624			5,341			1,100		4,832			10,219		15,897			26,048
Income tax expense	1,234			1,417			293		1,281			2,803		4,225			6,706
Net income	$	3,390		$	3,924		$	807	$	3,551		$	7,416	$	11,672		$	19,342
Basic and diluted earnings per common share	$	0.22		$	0.26		$	0.05	$	0.22		$	0.44	$	0.75		$	1.11

NONINTEREST INCOME AND EXPENSE
Noninterest Income
Deposit service charges and fees	$	957		$	983		$	974	$	930		$	998	$	3,844		$	3,968
Loan servicing fees	273			99			56		23			208		451			439
Commercial mortgage brokerage fees	54			4			8		—			—		66			138
Residential mortgage banking fees	18			24			13		28			31		83			119
Gain on sale of equity securities	—			—			—		295			3,572		295			3,558
Unrealized gain on equity securities	—			—			—		—			3,427		—			3,427
Gain on sale of premises held-for-sale	—			—			—		—			—		—			93
Loss on disposal of other assets	(25		)	—			—		(19		)	—		(44		)	—
Trust and insurance commissions and annuities income	217			198			224		205			267		844			937
Earnings on bank-owned life insurance	31			37			38		30			28		136			174
Bank-owned life insurance death benefit	—			—			—		—			—		—			1,389
Other	123			129			113		132			143		497			635
Total noninterest income	$	1,648		$	1,474		$	1,426	$	1,624		$	8,674	$	6,172		$	14,877

Noninterest Expense
Compensation and benefits	$	5,138		$	5,218		$	5,207	$	5,703		$	6,755	$	21,266		$	22,987
Office occupancy and equipment	1,726			1,877			1,621		1,845			1,795		7,069			6,817
Advertising and public relations	169			182			145		161			237		657			848
Information technology	855			716			736		692			726		2,999			2,792
Supplies, telephone, and postage	288			310			319		399			363		1,316			1,433
Amortization of intangibles	14			13			14		20			21		61			184
Nonperforming asset management	(24		)	17			58		54			40		105			353
Loss (gain) on sales of other real estate owned	1			(21		)	4		(95		)	—		(111		)	56
Valuation adjustments of other real estate owned	—			17			21		—			—		38			27
Operations of other real estate owned, net	29			23			22		51			77		125			349
FDIC insurance premiums	—			(127		)	146		108			99		127			437
Other	1,366			1,284			1,179		1,160			1,042		4,989			4,471
Total noninterest expense	$	9,562		$	9,509		$	9,472	$	10,098		$	11,155	$	38,641		$	40,754

Page 3

BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

(Dollars in thousands; except per share) – (Unaudited)



	2019												2018
	IVQ			IIIQ			IIQ			IQ			IVQ
LOANS
One–to–four family residential real estate	$	55,750		$	60,757		$	64,192		$	66,833		$	70,371
Multi–family mortgage	563,750			577,656			619,898			634,328			619,870
Nonresidential real estate	134,674			140,410			145,416			148,601			152,442
Construction and land	—			88			117			145			172
Commercial loans	145,714			163,846			153,709			172,264			187,406
Commercial leases	272,629			275,800			289,107			289,750			299,394
Consumer	2,211			2,052			1,861			1,846			1,539
	1,174,728			1,220,609			1,274,300			1,313,767			1,331,194
Net deferred loan origination costs	912			942			978			1,062			1,069
Allowance for loan losses	(7,632		)	(7,603		)	(7,824		)	(8,354		)	(8,470		)
Loans, net	$	1,168,008		$	1,213,948		$	1,267,454		$	1,306,475		$	1,323,793

LOAN ORIGINATIONS ⁽¹⁾
One–to–four family residential real estate	$	437		$	721		$	836		$	695		$	647
Multi–family mortgage	19,848			6,960			9,258			27,871			71,101
Nonresidential real estate	174			387			4,100			1,641			7,120
Commercial loans	134,330			141,314			153,537			155,123			171,048
Commercial leases	33,183			30,998			34,959			27,611			52,929
Consumer	1,018			852			842			1,174			913
	$	188,990		$	181,232		$	203,532		$	214,115		$	303,758
Weighted average rate	5.41		%	5.75		%	6.27		%	6.15		%	5.91		%

LOAN PAYMENTS and PAYOFFS⁽²⁾
One–to–four family residential real estate	$	5,317		$	4,127		$	3,415		$	4,195		$	7,590
Multi–family mortgage	33,916			49,374			23,685			13,308			35,135
Nonresidential real estate	5,854			6,802			7,165			5,542			4,315
Construction and land	88			28			27			27			27
Commercial loans	151,432			130,208			167,352			170,387			151,768
Commercial leases	36,488			44,035			39,633			37,259			50,742
Consumer	796			703			800			781			868
	$	233,891		$	235,277		$	242,077		$	231,499		$	250,445
Weighted average rate	5.46		%	5.45		%	5.91		%	5.91		%	5.59		%


(1)	Loan originations include purchased loans, draws on revolving lines of credit and exclude loan renewals.


(2)	Loan payments and payoffs exclude loan renewals.

Page 4

BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

(Dollars in thousands; except per share) – (Unaudited)



	2019												2018
	IVQ			IIIQ			IIQ			IQ			IVQ
CREDIT QUALITY:
Nonperforming Assets:
Nonaccrual loans:
One–to–four family residential real estate	$	512		$	1,163		$	928		$	848		$	1,247
Nonresidential real estate	288			284			2,083			242			270
Commercial loans	—			—			—			354			—
Nonaccrual loans	800			1,447			3,011			1,444			1,517

Loans past due over 90 days, still accruing - commercial leases	47			—			—			—			—

Other real estate owned:
One–to–four family residential real estate	186			269			497			921			875
Multi–family mortgage	—			—			—			—			276
Nonresidential real estate	—			—			—			—			74
Land	—			—			—			—			1
Other real estate owned	186			269			497			921			1,226

Nonperforming assets	$	1,033		$	1,716		$	3,508		$	2,365		$	2,743

Asset Quality Ratios
Nonperforming assets to total assets	0.07		%	0.12		%	0.23		%	0.15		%	0.17		%
Nonperforming loans to total loans	0.07			0.12			0.24			0.11			0.11
Nonperforming commercial-related loans to total commercial-related loans ⁽¹⁾	0.03			0.02			0.17			0.05			0.02
Nonperforming residential and consumer loans to total residential and consumer loans	0.88			1.85			1.40			1.23			1.73
Allowance for loan losses to nonperforming loans	901.06			525.43			259.85			578.53			558.34

Concentrations of Credit
Commercial Real Estate for FFEIC Concentration Limits	$	699,434		$	688,887		$	734,567		$	749,755		$	737,887
% FFIEC Total Capital	393.32		%	403.95		%	437.62		%	440.83		%	413.00		%

Multi–family mortgage loans - 50% risk based capital qualified (included above)	$	336,287		$	302,648		$	286,910		$	351,284		$	370,512
% FFIEC Total Capital	197.58		%	177.47		%	170.93		%	206.54		%	207.38		%

Commercial Leases - Investment rated	$	133,839		$	133,049		$	143,148		$	157,215		$	166,209
Commercial Leases - Other	138,790			142,751			145,959			132,535			133,185


(1)	Commercial-related loans include Multi-family mortgage, Nonresidential, Construction and land, Commercial loans and Commercial leases.

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BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

(Dollars in thousands; except per share) – (Unaudited)



	2019												2018
	IVQ			IIIQ			IIQ			IQ			IVQ
SUBSTANDARD PERFORMING LOANS
One–to–four family residential real estate	$	568		$	577		$	487		$	384		$	365
Multi–family mortgage	206			211			213			214			216
Nonresidential real estate	90			93			93			95			98
Commercial loans	—			—			500			3,033			342
Commercial leases	136			—			—			—			—
Consumer	53			3			1			9			7
	$	1,053		$	884		$	1,294		$	3,735		$	1,028

ALLOWANCE FOR LOAN LOSSES
Beginning balance	$	7,603		$	7,824		$	8,354		$	8,470		$	8,103
Charge-offs:
One–to–four family residential real estate	(105		)	(44		)	(50		)	(23		)	(17		)
Nonresidential real estate	—			(55		)	—			(28		)	(93		)
Commercial loans	—			—			(4,443		)	—			—
Consumer	(11		)	(5		)	(10		)	(5		)	(12		)
	(116		)	(104		)	(4,503		)	(56		)	(122		)
Recoveries:
One–to–four family residential real estate	47			5			6			17			76
Multi–family mortgage	7			8			8			8			8
Commercial loans	2			4			2			2			2
	56			17			16			27			86
Net charge–offs	(60		)	(87		)	(4,487		)	(29		)	(36		)
Provision for (recovery of) loan losses	89			(134		)	3,957			(87		)	403
Ending balance	$	7,632		$	7,603		$	7,824		$	8,354		$	8,470

Allowance for loan losses to total loans	0.65		%	0.62		%	0.61		%	0.64		%	0.64		%
Net charge–off ratio ⁽¹⁾	(0.02		)	(0.03		)	(1.38		)	(0.01		)	(0.01		)


(1)	Annualized

Page 6

BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

(Dollars in thousands; except per share) – (Unaudited)



	2019												2018
	IVQ			IIIQ			IIQ			IQ			IVQ
DEPOSITS
Noninterest–bearing demand	$	210,762		$	208,347		$	213,966		$	222,328		$	230,041
Interest–bearing NOW accounts	273,168			274,752			278,405			266,402			275,830
Money market accounts	245,610			237,022			246,941			248,657			255,951
Savings deposits	153,183			149,431			153,414			155,505			152,334
Certificates of deposit - retail	336,949			344,327			348,685			341,266			332,053
Certificates of deposit - wholesale	65,085			74,946			88,796			92,588			106,275
	$	1,284,757		$	1,288,825		$	1,330,207		$	1,326,746		$	1,352,484

SELECTED AVERAGE BALANCES
Total average assets	$	1,496,379		$	1,498,380		$	1,529,033		$	1,553,484		$	1,548,292
Total average interest–earning assets	1,429,300			1,430,830			1,458,180			1,474,355			1,478,028
Average loans	1,189,771			1,239,774			1,297,548			1,304,385			1,296,108
Average securities	64,658			78,221			86,144			91,271			98,756
Average stock in FHLB & FRB	7,490			7,490			7,629			8,026			8,026
Average other interest–earning assets	167,381			105,345			66,859			70,673			75,138
Total average interest–bearing liabilities	1,078,940			1,090,766			1,107,540			1,120,957			1,108,397
Average interest–bearing deposits	1,078,537			1,089,596			1,106,439			1,106,582			1,085,611
Average borrowings	403			1,170			1,101			14,375			22,786
Average stockholders’ equity	175,977			173,698			175,452			184,957			188,643

SELECTED YIELDS AND COST OF FUNDS ^(1):
Total average interest–earning assets	4.37		%	4.61		%	4.54		%	4.55		%	4.33		%
Average loans	4.82			4.92			4.76			4.77			4.59
Average securities	2.27			2.58			2.80			2.67			2.38
Average other interest–earning assets	1.94			2.50			2.63			2.71			2.36
Total average interest–bearing liabilities	1.14			1.23			1.24			1.20			1.09
Average interest–bearing deposits	1.14			1.23			1.24			1.18			1.07
Average cost of total deposits	0.95			1.03			1.04			0.99			0.89
Average cost of retail and commercial deposits	1.04			1.13			1.13			1.08			0.97
Average cost of wholesale deposits and borrowings	2.53			2.48			2.39			2.29			2.09
Average cost of funds	0.95			1.03			1.04			1.00			0.90
Net interest rate spread	3.23			3.38			3.30			3.35			3.24
Net interest margin	3.50			3.67			3.60			3.64			3.52


(1)	Annualized

Page 7

BANKFINANCIAL CORPORATION

SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA

Latest Five Quarters

(Dollars in thousands; except per share) – (Unaudited)



	2019												2018
	IVQ			IIIQ			IIQ			IQ			IVQ
CAPITAL RATIOS
BankFinancial Corporation ⁽¹⁾
Equity to total assets (end of period)	11.72		%	11.65		%	11.18		%	11.41		%	11.81		%
Tangible equity to tangible total assets (end of period)	11.72			11.65			11.18			11.40			11.80
Risk–based total capital ratio	17.23			16.17			15.17			15.47			16.33
Common Tier 1 (CET1)	16.48			15.47			14.49			14.76			15.61
Risk–based tier 1 capital ratio	16.48			15.47			14.49			14.76			15.61
Tier 1 leverage ratio	11.48			11.43			11.04			11.13			11.82
Tier 1 capital	$	171,524		$	171,050		$	168,461		$	172,486		$	182,404
BankFinancial, NA
Risk–based total capital ratio	16.38		%	15.46		%	14.46		%	14.58		%	15.30		%
Common Tier 1 (CET1)	15.63			14.76			13.78			13.86			14.57
Risk–based tier 1 capital ratio	15.63			14.76			13.78			13.86			14.57
Tier 1 leverage ratio	10.89			10.90			10.49			10.45			11.03
Tier 1 capital	$	162,455		$	162,818		$	159,917		$	161,723		$	170,194

COMMON STOCK AND DIVIDENDS
Stock Prices:
Close	$	13.08		$	11.90		$	13.99		$	14.87		$	14.95
High	14.14			14.29			15.63			16.06			16.06
Low	11.52			11.10			13.44			13.46			13.88
Common shares outstanding	15,278,464			15,373,964			15,373,964			15,644,499			16,481,514
Book value per share	$	11.41		$	11.31		$	11.15		$	11.26		$	11.36
Tangible book value per share	$	11.41		$	11.31		$	11.15		$	11.26		$	11.35
Cash dividends declared on common stock	$	0.10		$	0.10		$	0.10		$	0.10		$	0.10
Dividend payout ratio	45.30		%	39.18		%	191.78		%	46.35		%	22.74		%
Stock repurchases	$	1,298		$	—		$	4,001		$	12,840		$	10,691
Stock repurchases – shares	95,500			—			270,535			837,015			724,789

EARNINGS PER SHARE COMPUTATIONS
Net income	$	3,390		$	3,924		$	807		$	3,551		$	7,416
Weighted average basic and dilutive common shares outstanding	15,342,524			15,373,964			15,472,618			16,202,303			16,820,641
Basic and diluted earnings per common share	$	0.22		$	0.26		$	0.05		$	0.22		$	0.44


(1)	As a small bank holding company, the Company is exempt from the Federal Reserve Board's risk-based capital and leverage rules. BankFinancial Corporation capital data is included for information purposes only.

Page 8

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