BankFinancial Corporation Extends and Expands Share Repurchase Program
February 25 2019 - 1:08PM
BankFinancial Corporation (Nasdaq - BFIN) announced today that its
Board of Directors has extended the expiration date of the
Company's share repurchase authorization from July 31, 2019 to
March 31, 2020, and increased the total number of shares
currently authorized for repurchase under the Share Repurchase
Program from 4,560,755 shares to 5,060,755 shares, an increase of
500,000 shares. As of February 25, 2019, a total of
972,171 shares of the Company remained authorized for repurchase
pursuant to the amended repurchase authorization.
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 marker
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 full-service, community-oriented bank
providing financial services to individuals, families and
businesses through 19 full-service banking offices, located in
Cook, DuPage, Lake and Will Counties, Illinois. At
December 31, 2018, BankFinancial had total assets of $1.585
billion, total loans of $1.324 billion, total deposits of $1.352
billion and stockholders’ equity of $187 million.
BankFinancial Corporation’s common stock trades on the Nasdaq
Global Select Market under the symbol BFIN.
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. DoolanSenior Vice President –
ControllerBankFinancial CorporationTelephone:
630-242-7151 |
Gregg T.
AdamsPresident – Marketing &
SalesBankFinancial, NATelephone: 630-242-7234 |
BankFinancial (NASDAQ:BFIN)
Historical Stock Chart
From Aug 2024 to Sep 2024
BankFinancial (NASDAQ:BFIN)
Historical Stock Chart
From Sep 2023 to Sep 2024