BankFinancial Corporation Extends Share Repurchase Program
January 31 2020 - 12:01PM
BankFinancial Corporation (Nasdaq - BFIN) announced today that its
Board of Directors extended the expiration date of the Company's
current share repurchase authorization from March 31, 2020 to
October 31, 2020. As of January 30, 2020, a total of
494,286 shares of the Company remained authorized for repurchase
pursuant to the amended repurchase authorization through
October 31, 2020.
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
September 30, 2019, BankFinancial had total assets of $1.492
billion, total loans of $1.214 billion, total deposits of $1.289
billion and stockholders’ equity of $174 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: |
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Shareholder, Analyst and
Investor Inquiries: |
Media Inquiries: |
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Elizabeth A. DoolanSenior Vice President –
ControllerBankFinancial CorporationTelephone:
630-242-7151 |
Gregg T. Adams President – Marketing & Sales
BankFinancial, NATelephone: 630-242-7234 |
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