BankFinancial Corporation Announces Completion of $20.0 Million Subordinated Notes Offering
April 14 2021 - 05:11PM
BankFinancial Corporation (Nasdaq GS: BFIN), the parent company of
BankFinancial, NA, announced today the completion of its private
placement of $20.0 million of its 3.75% Fixed-to-Floating Rate
Subordinated Notes (the “Notes”) to certain qualified institutional
buyers and accredited institutional investors.
The Notes will have a maturity date of May 15,
2031 and initially bear interest, payable semi-annually, at a fixed
annual rate of 3.75% per annum until May 15, 2026. Commencing on
that date, the interest rate applicable to the outstanding
principal amount due will be reset quarterly to an interest rate
per annum equal to the then current three-month secured overnight
financing rate (SOFR) plus 299 basis points, payable quarterly
until maturity. BankFinancial Corporation may redeem the Notes at
par, in whole or in part, at its option, anytime beginning on May
15, 2026. The Notes are intended to qualify as Tier 2 capital for
regulatory capital purposes for BankFinancial Corporation.
Keefe, Bruyette & Woods, A Stifel Company
(“KBW”), served as the placement agent for the offering. Luse
Gorman, PC served as legal counsel to BankFinancial Corporation and
Squire Patton Boggs (US) LLP served as legal counsel to KBW.
This press release is for informational purposes
only and shall not constitute an offer to sell, or the solicitation
of an offer to buy, any security, nor shall there by any sale in
any jurisdiction in which such an offer, solicitation or sale would
be unlawful prior to registration or qualification under the
securities laws of such jurisdiction. The Notes have not been
registered under the Securities Act of 1933, as amended, and may
not be offered or sold in the United States absent registration or
an applicable exemption from registration requirements. The
indebtedness evidenced by the Notes is not a deposit and is not
insured by the Federal Deposit Insurance Corporation or any other
government agency or fund.
About BankFinancial
Corporation
BankFinancial Corporation is the holding company
for BankFinancial, NA, a national bank providing financial services
to individuals, families and businesses through 19 full-service
banking offices, located in Cook, DuPage, Lake and Will Counties,
Illinois and to selected commercial loan and deposit customers on a
regional or national basis. 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.
FORWARD-LOOKING STATEMENTS
This release may include “forward-looking
statements” as defined in the Private Securities Litigation Reform
Act of 1995. A variety of factors could cause BankFinancial
Corporation’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 BankFinancial Corporation’s most recent Annual Report on Form
10-K as filed with the Securities and Exchange Commission (the
“SEC”), as supplemented by subsequent filings 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
www.sec.gov or on BankFinancial’s web site at
www.bankfinancial.com. Forward looking statements speak only as of
the date they are made, and we do not undertake to update them to
reflect changes.
For Further Information Contact:Shareholder,
Analyst and Investor Inquiries:
Paul A. Cloutier |
Elizabeth A. Doolan |
Executive Vice President –
Chief Financial Officer |
Senior Vice President –
Controller |
BankFinancial
Corporation |
BankFinancial
Corporation |
Telephone: 630-242-7024 |
Telephone: 630-242-7151 |
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