0001303942 BankFinancial CORP false
--12-31 Q3 2020 8,011 7,632 0.01 0.01 25,000,000 25,000,000 0 0 0 0
0.01 0.01 100,000,000 100,000,000 14,890,628 15,278,464 0.10 66,000
0.10 1,107,550 0.30 453,836 0.30 0 0 0 0 20,000 0 0 Not within the
scope of ASC 606 00013039422020-01-012020-09-30 xbrli:shares
00013039422020-10-26 thunderdome:item iso4217:USD
00013039422020-09-30 00013039422019-12-31 iso4217:USDxbrli:shares
00013039422020-07-012020-09-30 00013039422019-07-012019-09-30
00013039422019-01-012019-09-30
0001303942us-gaap:CommonStockMember2019-06-30
0001303942us-gaap:AdditionalPaidInCapitalMember2019-06-30
0001303942us-gaap:RetainedEarningsMember2019-06-30
0001303942us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-06-30
00013039422019-06-30
0001303942us-gaap:CommonStockMember2019-07-012019-09-30
0001303942us-gaap:AdditionalPaidInCapitalMember2019-07-012019-09-30
0001303942us-gaap:RetainedEarningsMember2019-07-012019-09-30
0001303942us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-07-012019-09-30
0001303942us-gaap:CommonStockMember2019-09-30
0001303942us-gaap:AdditionalPaidInCapitalMember2019-09-30
0001303942us-gaap:RetainedEarningsMember2019-09-30
0001303942us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-09-30
00013039422019-09-30 0001303942us-gaap:CommonStockMember2020-06-30
0001303942us-gaap:AdditionalPaidInCapitalMember2020-06-30
0001303942us-gaap:RetainedEarningsMember2020-06-30
0001303942us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-06-30
00013039422020-06-30
0001303942us-gaap:CommonStockMember2020-07-012020-09-30
0001303942us-gaap:AdditionalPaidInCapitalMember2020-07-012020-09-30
0001303942us-gaap:RetainedEarningsMember2020-07-012020-09-30
0001303942us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-07-012020-09-30
0001303942us-gaap:CommonStockMember2020-09-30
0001303942us-gaap:AdditionalPaidInCapitalMember2020-09-30
0001303942us-gaap:RetainedEarningsMember2020-09-30
0001303942us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-09-30
0001303942us-gaap:CommonStockMember2018-12-31
0001303942us-gaap:AdditionalPaidInCapitalMember2018-12-31
0001303942us-gaap:RetainedEarningsMember2018-12-31
0001303942us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-12-31
00013039422018-12-31
0001303942us-gaap:CommonStockMember2019-01-012019-09-30
0001303942us-gaap:AdditionalPaidInCapitalMember2019-01-012019-09-30
0001303942us-gaap:RetainedEarningsMember2019-01-012019-09-30
0001303942us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-01-012019-09-30
0001303942us-gaap:CommonStockMember2019-12-31
0001303942us-gaap:AdditionalPaidInCapitalMember2019-12-31
0001303942us-gaap:RetainedEarningsMember2019-12-31
0001303942us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-31
0001303942us-gaap:CommonStockMember2020-01-012020-09-30
0001303942us-gaap:AdditionalPaidInCapitalMember2020-01-012020-09-30
0001303942us-gaap:RetainedEarningsMember2020-01-012020-09-30
0001303942us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-09-30
0001303942us-gaap:CertificatesOfDepositMember2020-09-30
0001303942us-gaap:USStatesAndPoliticalSubdivisionsMember2020-09-30
0001303942us-gaap:ResidentialMortgageBackedSecuritiesMember2020-09-30
0001303942us-gaap:MortgageBackedSecuritiesMember2020-09-30
0001303942us-gaap:CertificatesOfDepositMember2019-12-31
0001303942us-gaap:USStatesAndPoliticalSubdivisionsMember2019-12-31
0001303942us-gaap:ResidentialMortgageBackedSecuritiesMember2019-12-31
0001303942us-gaap:MortgageBackedSecuritiesMember2019-12-31
xbrli:pure 0001303942bfin:VisaIncClassBCommonStockMember2007-12-31
0001303942bfin:VisaIncClassBCommonStockMember2018-10-012018-12-31
0001303942bfin:VisaIncClassBCommonStockMember2019-03-31
0001303942bfin:VisaIncClassBCommonStockMember2019-01-012019-03-31
0001303942bfin:RealEstatePortfolioMemberbfin:OnetoFourFamilyResidentialRealEstateMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:OnetoFourFamilyResidentialRealEstateMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMember2019-12-31
0001303942us-gaap:CommercialPortfolioSegmentMember2020-09-30
0001303942us-gaap:CommercialPortfolioSegmentMember2019-12-31
0001303942us-gaap:ConsumerPortfolioSegmentMember2020-09-30
0001303942us-gaap:ConsumerPortfolioSegmentMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:OnetoFourFamilyResidentialRealEstateMember2020-06-30
0001303942bfin:RealEstatePortfolioMemberbfin:OnetoFourFamilyResidentialRealEstateMember2020-07-012020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMember2020-06-30
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMember2020-07-012020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMember2020-06-30
0001303942bfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMember2020-07-012020-09-30
0001303942bfin:RealEstatePortfolioMember2020-07-012020-09-30
0001303942us-gaap:CommercialPortfolioSegmentMember2020-06-30
0001303942us-gaap:CommercialPortfolioSegmentMember2020-07-012020-09-30
0001303942us-gaap:ConsumerPortfolioSegmentMember2020-06-30
0001303942us-gaap:ConsumerPortfolioSegmentMember2020-07-012020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:OnetoFourFamilyResidentialRealEstateMember2019-06-30
0001303942bfin:RealEstatePortfolioMemberbfin:OnetoFourFamilyResidentialRealEstateMember2019-07-012019-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:OnetoFourFamilyResidentialRealEstateMember2019-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMember2019-06-30
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMember2019-07-012019-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMember2019-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMember2019-06-30
0001303942bfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMember2019-07-012019-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMember2019-09-30
0001303942bfin:ConstructionAndLandLoansMember2019-06-30
0001303942bfin:ConstructionAndLandLoansMember2019-07-012019-09-30
0001303942bfin:ConstructionAndLandLoansMember2019-09-30
0001303942us-gaap:CommercialPortfolioSegmentMember2019-06-30
0001303942us-gaap:CommercialPortfolioSegmentMember2019-07-012019-09-30
0001303942us-gaap:CommercialPortfolioSegmentMember2019-09-30
0001303942us-gaap:ConsumerPortfolioSegmentMember2019-06-30
0001303942us-gaap:ConsumerPortfolioSegmentMember2019-07-012019-09-30
0001303942us-gaap:ConsumerPortfolioSegmentMember2019-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:OnetoFourFamilyResidentialRealEstateMember2020-01-012020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMember2020-01-012020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMember2020-01-012020-09-30
0001303942bfin:RealEstatePortfolioMember2020-01-012020-09-30
0001303942us-gaap:CommercialPortfolioSegmentMember2020-01-012020-09-30
0001303942us-gaap:ConsumerPortfolioSegmentMember2020-01-012020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:OnetoFourFamilyResidentialRealEstateMember2018-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:OnetoFourFamilyResidentialRealEstateMember2019-01-012019-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMember2018-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMember2019-01-012019-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMember2018-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMember2019-01-012019-09-30
0001303942bfin:ConstructionAndLandLoansMember2018-12-31
0001303942bfin:ConstructionAndLandLoansMember2019-01-012019-09-30
0001303942us-gaap:CommercialPortfolioSegmentMember2018-12-31
0001303942us-gaap:CommercialPortfolioSegmentMember2019-01-012019-09-30
0001303942us-gaap:ConsumerPortfolioSegmentMember2018-12-31
0001303942us-gaap:ConsumerPortfolioSegmentMember2019-01-012019-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberstpr:IL2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberstpr:IL2020-07-012020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberstpr:IL2020-01-012020-09-30
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:OtherMember2020-09-30
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:OtherMember2020-07-012020-09-30
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:OtherMember2020-01-012020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:OnetoFourFamilyResidentialRealEstateMember2019-01-012019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberstpr:IL2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberstpr:IL2019-01-012019-12-31
0001303942bfin:NonresidentialRealEstateMember2019-12-31
0001303942bfin:NonresidentialRealEstateMember2019-01-012019-12-31
00013039422019-01-012019-12-31
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:InvestmentRatedCommercialLeasesMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateOwnerOccupiedMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateOwnerOccupiedMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateOwnerOccupiedMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateOwnerOccupiedMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateNonownerOccupiedMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateNonownerOccupiedMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateNonownerOccupiedMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateNonownerOccupiedMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberstpr:IL2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberstpr:IL2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberstpr:IL2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberbfin:OtherMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberbfin:OtherMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberbfin:OtherMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberbfin:OtherMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-30
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:CommercialLinesAndLoansForOperationsMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-09-30
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:CommercialLinesAndLoansForOperationsMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-09-30
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:CommercialLinesAndLoansForOperationsMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-30
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:CommercialLinesAndLoansForOperationsMember2020-09-30
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:AssetBasedMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-09-30
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:AssetBasedMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-09-30
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:AssetBasedMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-30
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:AssetBasedMember2020-09-30
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:EquipmentFinanceLeasesGovernmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-09-30
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:EquipmentFinanceLeasesGovernmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-09-30
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:EquipmentFinanceLeasesGovernmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-30
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:EquipmentFinanceLeasesGovernmentMember2020-09-30
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:InvestmentRatedCommercialLeasesMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-09-30
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:InvestmentRatedCommercialLeasesMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-09-30
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:InvestmentRatedCommercialLeasesMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-30
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:InvestmentRatedCommercialLeasesMember2020-09-30
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:OtherMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-09-30
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:OtherMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-09-30
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:OtherMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-30
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:OtherMember2020-09-30
0001303942us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-09-30
0001303942us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-09-30
0001303942us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-30
0001303942us-gaap:FinancingReceivables30To59DaysPastDueMember2020-09-30
0001303942us-gaap:FinancingReceivables60To89DaysPastDueMember2020-09-30
0001303942us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateOwnerOccupiedMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateOwnerOccupiedMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateOwnerOccupiedMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateOwnerOccupiedMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateNonownerOccupiedMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateNonownerOccupiedMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateNonownerOccupiedMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateNonownerOccupiedMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberstpr:IL2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberstpr:IL2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberstpr:IL2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberbfin:OtherMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberbfin:OtherMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberbfin:OtherMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberbfin:OtherMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-31
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:CommercialLoansMember2019-12-31
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:AssetBasedMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2019-12-31
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:AssetBasedMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2019-12-31
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:AssetBasedMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-31
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:AssetBasedMember2019-12-31
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:EquipmentFinanceLeasesGovernmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2019-12-31
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:EquipmentFinanceLeasesGovernmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2019-12-31
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:EquipmentFinanceLeasesGovernmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-31
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:EquipmentFinanceLeasesGovernmentMember2019-12-31
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:InvestmentRatedCommercialLeasesMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2019-12-31
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:InvestmentRatedCommercialLeasesMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2019-12-31
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:InvestmentRatedCommercialLeasesMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-31
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:OtherMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2019-12-31
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:OtherMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2019-12-31
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:OtherMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-31
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:OtherMember2019-12-31
0001303942us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2019-12-31
0001303942us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2019-12-31
0001303942us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-31
0001303942us-gaap:FinancingReceivables30To59DaysPastDueMember2019-12-31
0001303942us-gaap:FinancingReceivables60To89DaysPastDueMember2019-12-31
0001303942us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-31
0001303942bfin:PaycheckProtectionProgramCaresActMember2020-01-012020-09-30
0001303942bfin:PaycheckProtectionProgramLoanOriginationMember2020-09-30
0001303942bfin:PaycheckProtectionProgramCaresActMember2020-09-30
0001303942bfin:MultifamilyMortgageMemberbfin:SmallInvestmentPropertyForbearanceAgreementMemberbfin:Covid19Member2020-09-30
0001303942bfin:NonresidentialRealEstateMemberbfin:SmallInvestmentPropertyForbearanceAgreementMemberbfin:Covid19Member2020-09-30
0001303942bfin:MultifamilyMortgageMemberbfin:StandardForbearanceAgreementMemberbfin:Covid19Member2020-09-30
0001303942bfin:NonresidentialRealEstateMemberbfin:StandardForbearanceAgreementMemberbfin:Covid19Member2020-09-30
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:StandardForbearanceAgreementMemberbfin:Covid19Member2020-09-30
0001303942bfin:OnetoFourFamilyResidentialRealEstateMemberbfin:StandardForbearanceAgreementMemberbfin:Covid19Member2020-09-30
0001303942bfin:OneToFourFamilyResidentialRealEstateLoansMemberbfin:StandardForbearanceAgreementMemberbfin:Covid19Member2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateOwnerOccupiedMemberus-gaap:PassMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateOwnerOccupiedMemberus-gaap:SpecialMentionMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateOwnerOccupiedMemberus-gaap:SubstandardMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateOwnerOccupiedMemberbfin:NonaccrualMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateNonownerOccupiedMemberus-gaap:PassMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateNonownerOccupiedMemberus-gaap:SpecialMentionMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateNonownerOccupiedMemberus-gaap:SubstandardMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateNonownerOccupiedMemberbfin:NonaccrualMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberus-gaap:PassMemberstpr:IL2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberus-gaap:SpecialMentionMemberstpr:IL2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberus-gaap:SubstandardMemberstpr:IL2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberbfin:NonaccrualMemberstpr:IL2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberus-gaap:PassMemberbfin:OtherMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberus-gaap:SpecialMentionMemberbfin:OtherMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberus-gaap:SubstandardMemberbfin:OtherMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberbfin:NonaccrualMemberbfin:OtherMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMemberus-gaap:PassMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMemberus-gaap:SpecialMentionMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMemberus-gaap:SubstandardMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMemberbfin:NonaccrualMember2020-09-30
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:CommercialLinesAndLoansForOperationsMemberus-gaap:PassMember2020-09-30
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:CommercialLinesAndLoansForOperationsMemberus-gaap:SpecialMentionMember2020-09-30
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:CommercialLinesAndLoansForOperationsMemberus-gaap:SubstandardMember2020-09-30
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:CommercialLinesAndLoansForOperationsMemberbfin:NonaccrualMember2020-09-30
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:AssetBasedMemberus-gaap:PassMember2020-09-30
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:AssetBasedMemberus-gaap:SpecialMentionMember2020-09-30
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:AssetBasedMemberus-gaap:SubstandardMember2020-09-30
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:AssetBasedMemberbfin:NonaccrualMember2020-09-30
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:EquipmentFinanceLeasesGovernmentMemberus-gaap:PassMember2020-09-30
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:EquipmentFinanceLeasesGovernmentMemberus-gaap:SpecialMentionMember2020-09-30
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:EquipmentFinanceLeasesGovernmentMemberus-gaap:SubstandardMember2020-09-30
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:EquipmentFinanceLeasesGovernmentMemberbfin:NonaccrualMember2020-09-30
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:InvestmentRatedCommercialLeasesMemberus-gaap:PassMember2020-09-30
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:InvestmentRatedCommercialLeasesMemberus-gaap:SpecialMentionMember2020-09-30
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:InvestmentRatedCommercialLeasesMemberus-gaap:SubstandardMember2020-09-30
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:InvestmentRatedCommercialLeasesMemberbfin:NonaccrualMember2020-09-30
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:OtherMemberus-gaap:PassMember2020-09-30
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:OtherMemberus-gaap:SpecialMentionMember2020-09-30
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:OtherMemberus-gaap:SubstandardMember2020-09-30
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:OtherMemberbfin:NonaccrualMember2020-09-30
0001303942us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PassMember2020-09-30
0001303942us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SpecialMentionMember2020-09-30
0001303942us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SubstandardMember2020-09-30
0001303942us-gaap:ConsumerPortfolioSegmentMemberbfin:NonaccrualMember2020-09-30
0001303942us-gaap:PassMember2020-09-30
0001303942us-gaap:SpecialMentionMember2020-09-30
0001303942us-gaap:SubstandardMember2020-09-30
0001303942bfin:NonaccrualMember2020-09-30
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateOwnerOccupiedMemberus-gaap:PassMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateOwnerOccupiedMemberus-gaap:SpecialMentionMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateOwnerOccupiedMemberus-gaap:SubstandardMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateOwnerOccupiedMemberbfin:NonaccrualMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateNonownerOccupiedMemberus-gaap:PassMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateNonownerOccupiedMemberus-gaap:SpecialMentionMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateNonownerOccupiedMemberus-gaap:SubstandardMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:OnetofourFamilyResidentialRealEstateNonownerOccupiedMemberbfin:NonaccrualMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberus-gaap:PassMemberstpr:IL2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberus-gaap:SpecialMentionMemberstpr:IL2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberus-gaap:SubstandardMemberstpr:IL2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberbfin:NonaccrualMemberstpr:IL2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberus-gaap:PassMemberbfin:OtherMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberus-gaap:SpecialMentionMemberbfin:OtherMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberus-gaap:SubstandardMemberbfin:OtherMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:MultifamilyMortgageMemberbfin:NonaccrualMemberbfin:OtherMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMemberus-gaap:PassMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMemberus-gaap:SpecialMentionMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMemberus-gaap:SubstandardMember2019-12-31
0001303942bfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMemberbfin:NonaccrualMember2019-12-31
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:CommercialLinesAndLoansForOperationsMemberus-gaap:PassMember2019-12-31
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:CommercialLinesAndLoansForOperationsMemberus-gaap:SpecialMentionMember2019-12-31
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:CommercialLinesAndLoansForOperationsMemberus-gaap:SubstandardMember2019-12-31
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:CommercialLinesAndLoansForOperationsMemberbfin:NonaccrualMember2019-12-31
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:CommercialLinesAndLoansForOperationsMember2019-12-31
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:AssetBasedMemberus-gaap:PassMember2019-12-31
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:AssetBasedMemberus-gaap:SpecialMentionMember2019-12-31
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:AssetBasedMemberus-gaap:SubstandardMember2019-12-31
0001303942us-gaap:CommercialPortfolioSegmentMemberbfin:AssetBasedMemberbfin:NonaccrualMember2019-12-31
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:EquipmentFinanceLeasesGovernmentMemberus-gaap:PassMember2019-12-31
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:EquipmentFinanceLeasesGovernmentMemberus-gaap:SpecialMentionMember2019-12-31
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:EquipmentFinanceLeasesGovernmentMemberus-gaap:SubstandardMember2019-12-31
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:EquipmentFinanceLeasesGovernmentMemberbfin:NonaccrualMember2019-12-31
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:InvestmentRatedCommercialLeasesMemberus-gaap:PassMember2019-12-31
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:InvestmentRatedCommercialLeasesMemberus-gaap:SpecialMentionMember2019-12-31
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:InvestmentRatedCommercialLeasesMemberus-gaap:SubstandardMember2019-12-31
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:InvestmentRatedCommercialLeasesMemberbfin:NonaccrualMember2019-12-31
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:OtherMemberus-gaap:PassMember2019-12-31
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:OtherMemberus-gaap:SpecialMentionMember2019-12-31
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:OtherMemberus-gaap:SubstandardMember2019-12-31
0001303942us-gaap:FinanceLeasesPortfolioSegmentMemberbfin:OtherMemberbfin:NonaccrualMember2019-12-31
0001303942us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PassMember2019-12-31
0001303942us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SpecialMentionMember2019-12-31
0001303942us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SubstandardMember2019-12-31
0001303942us-gaap:ConsumerPortfolioSegmentMemberbfin:NonaccrualMember2019-12-31
0001303942us-gaap:PassMember2019-12-31
0001303942us-gaap:SpecialMentionMember2019-12-31
0001303942us-gaap:SubstandardMember2019-12-31
0001303942bfin:NonaccrualMember2019-12-31
0001303942bfin:OnetoFourFamilyResidentialRealEstateMember2020-09-30
0001303942bfin:OnetoFourFamilyResidentialRealEstateMember2019-12-31
0001303942us-gaap:OtherLiabilitiesMember2020-09-30
0001303942us-gaap:OtherLiabilitiesMember2019-12-31 utr:Y
0001303942us-gaap:DebtInstrumentRedemptionPeriodOneMember2019-12-31
0001303942us-gaap:DebtInstrumentRedemptionPeriodTwoMember2019-12-31
0001303942us-gaap:DebtInstrumentRedemptionPeriodThreeMember2019-12-31
0001303942us-gaap:DebtInstrumentRedemptionPeriodFourMember2019-12-31
0001303942us-gaap:LineOfCreditMemberus-gaap:UnsecuredDebtMember2020-04-01
0001303942us-gaap:LineOfCreditMemberus-gaap:UnsecuredDebtMemberus-gaap:PrimeRateMember2020-04-012020-04-01
0001303942us-gaap:FederalHomeLoanBankAdvancesMember2020-09-30
0001303942us-gaap:FairValueInputsLevel1Memberus-gaap:CertificatesOfDepositMember2020-09-30
0001303942us-gaap:FairValueInputsLevel2Memberus-gaap:CertificatesOfDepositMember2020-09-30
0001303942us-gaap:FairValueInputsLevel3Memberus-gaap:CertificatesOfDepositMember2020-09-30
0001303942us-gaap:FairValueInputsLevel1Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2020-09-30
0001303942us-gaap:FairValueInputsLevel2Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2020-09-30
0001303942us-gaap:FairValueInputsLevel3Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2020-09-30
0001303942us-gaap:FairValueInputsLevel1Memberus-gaap:ResidentialMortgageBackedSecuritiesMember2020-09-30
0001303942us-gaap:FairValueInputsLevel2Memberus-gaap:ResidentialMortgageBackedSecuritiesMember2020-09-30
0001303942us-gaap:FairValueInputsLevel3Memberus-gaap:ResidentialMortgageBackedSecuritiesMember2020-09-30
0001303942us-gaap:FairValueInputsLevel1Memberus-gaap:MortgageBackedSecuritiesMember2020-09-30
0001303942us-gaap:FairValueInputsLevel2Memberus-gaap:MortgageBackedSecuritiesMember2020-09-30
0001303942us-gaap:FairValueInputsLevel3Memberus-gaap:MortgageBackedSecuritiesMember2020-09-30
0001303942us-gaap:FairValueInputsLevel1Member2020-09-30
0001303942us-gaap:FairValueInputsLevel2Member2020-09-30
0001303942us-gaap:FairValueInputsLevel3Member2020-09-30
0001303942us-gaap:FairValueInputsLevel1Memberus-gaap:CertificatesOfDepositMember2019-12-31
0001303942us-gaap:FairValueInputsLevel2Memberus-gaap:CertificatesOfDepositMember2019-12-31
0001303942us-gaap:FairValueInputsLevel3Memberus-gaap:CertificatesOfDepositMember2019-12-31
0001303942us-gaap:FairValueInputsLevel1Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2019-12-31
0001303942us-gaap:FairValueInputsLevel2Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2019-12-31
0001303942us-gaap:FairValueInputsLevel3Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2019-12-31
0001303942us-gaap:FairValueInputsLevel1Memberus-gaap:ResidentialMortgageBackedSecuritiesMember2019-12-31
0001303942us-gaap:FairValueInputsLevel2Memberus-gaap:ResidentialMortgageBackedSecuritiesMember2019-12-31
0001303942us-gaap:FairValueInputsLevel3Memberus-gaap:ResidentialMortgageBackedSecuritiesMember2019-12-31
0001303942us-gaap:FairValueInputsLevel1Memberus-gaap:MortgageBackedSecuritiesMember2019-12-31
0001303942us-gaap:FairValueInputsLevel2Memberus-gaap:MortgageBackedSecuritiesMember2019-12-31
0001303942us-gaap:FairValueInputsLevel3Memberus-gaap:MortgageBackedSecuritiesMember2019-12-31
0001303942us-gaap:FairValueInputsLevel1Member2019-12-31
0001303942us-gaap:FairValueInputsLevel2Member2019-12-31
0001303942us-gaap:FairValueInputsLevel3Member2019-12-31
0001303942us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberbfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMember2020-09-30
0001303942us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberbfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMember2020-09-30
0001303942us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberbfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMember2020-09-30
0001303942us-gaap:FairValueMeasurementsNonrecurringMemberbfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMember2020-09-30
0001303942bfin:ImpairedLoansMember2020-07-012020-09-30
0001303942bfin:ImpairedLoansMember2020-01-012020-09-30
0001303942bfin:ImpairedLoansMember2019-07-012019-09-30
0001303942bfin:ImpairedLoansMember2019-01-012019-09-30
0001303942us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberbfin:RealEstatePortfolioMemberbfin:NonresidentialRealEstateMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:MarketApproachValuationTechniqueMember2020-09-30
0001303942us-gaap:CarryingReportedAmountFairValueDisclosureMember2020-09-30
0001303942us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-09-30
0001303942us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-09-30
0001303942us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-09-30
0001303942us-gaap:EstimateOfFairValueFairValueDisclosureMember2020-09-30
0001303942us-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-31
0001303942us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-31
0001303942us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-31
0001303942us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-31
0001303942us-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-31
0001303942us-gaap:DepositAccountMember2020-07-012020-09-30
0001303942us-gaap:DepositAccountMember2019-07-012019-09-30
0001303942us-gaap:DepositAccountMember2020-01-012020-09-30
0001303942us-gaap:DepositAccountMember2019-01-012019-09-30
0001303942us-gaap:BankServicingMember2020-07-012020-09-30
0001303942us-gaap:BankServicingMember2019-07-012019-09-30
0001303942us-gaap:BankServicingMember2020-01-012020-09-30
0001303942us-gaap:BankServicingMember2019-01-012019-09-30
0001303942us-gaap:CreditAndDebitCardMember2020-07-012020-09-30
0001303942us-gaap:CreditAndDebitCardMember2019-07-012019-09-30
0001303942us-gaap:CreditAndDebitCardMember2020-01-012020-09-30
0001303942us-gaap:CreditAndDebitCardMember2019-01-012019-09-30
0001303942bfin:PaycheckProtectionProgramCaresActMember2020-01-012020-09-30
0001303942bfin:Covid19Member2020-01-012020-09-30
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
|
☒
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
|
For the Quarterly Period ended September 30, 2020
or
|
☐
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
|
For transition period
from
to
Commission File Number 0-51331
BANKFINANCIAL CORPORATION
(Exact Name of Registrant as Specified in Charter)
| |
|
|
Maryland
|
75-3199276
|
|
(State or Other Jurisdiction
of Incorporation)
|
(I.R.S. Employer
Identification No.)
|
|
|
|
|
60 North Frontage Road, Burr Ridge, Illinois 60527
|
|
(Address of Principal Executive Offices)
|
Registrant’s telephone number, including area code:
(800) 894-6900
Not Applicable
(Former name, former address and former fiscal year, if changed
since last report)
Securities registered pursuant to Section 12(b) of the
Act:
|
Title of each class
|
|
Trading
Symbol(s)
|
|
Name of each exchange on which registered
|
|
Common Stock, par value $0.01 per share
|
|
BFIN
|
|
The NASDAQ Stock Market LLC
|
Indicate by check mark whether the registrant (1) has filed
all reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months (or
for such shorter period that the registrant was required to file
such reports), and (2) has been subject to such filing
requirements for the past 90
days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted
electronically every Interactive Data File required to be submitted
pursuant to Rule 405 of Regulation S-T during the preceding 12
months (or for such shorter period that the registrant was required
to submit such
files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large
accelerated filer, an accelerated filer, a non-accelerated filer,
smaller reporting company, or an emerging growth company. See the
definitions of “large accelerated filer”, “accelerated filer”,
“smaller reporting company”, and “emerging growth company” in Rule
12b-2 of the Exchange Act.
|
Large accelerated filer
|
|
☐
|
|
Accelerated filer
|
|
☒
|
|
Non-accelerated filer
|
|
☐
|
|
Smaller reporting company
|
|
☒
|
|
|
|
|
|
Emerging growth company
|
|
☐
|
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
☐
Indicate by check mark whether the registrant is a shell company
(as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒.
Indicate the number of shares outstanding of each of the issuer’s
classes of common stock as of the latest practicable date. At
October 26, 2020 there were 14,780,628 shares of
Common Stock, $0.01 par value, outstanding.
BANKFINANCIAL CORPORATION
Form 10-Q
September 30, 2020
Table of Contents
BANKFINANCIAL CORPORATION
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(In thousands, except share and per share data) - Unaudited
|
|
|
September 30, 2020
|
|
|
December 31, 2019
|
|
|
Assets
|
|
|
|
|
|
|
|
|
|
Cash and due from other financial institutions
|
|
$ |
13,740 |
|
|
$ |
9,785 |
|
|
Interest-bearing deposits in other financial institutions
|
|
|
415,925 |
|
|
|
180,540 |
|
|
Cash and cash equivalents
|
|
|
429,665 |
|
|
|
190,325 |
|
|
Securities, at fair value
|
|
|
42,048 |
|
|
|
60,193 |
|
|
Loans receivable, net of allowance for loan losses: September 30,
2020, $8,011 and
December 31, 2019, $7,632
|
|
|
1,065,892 |
|
|
|
1,168,008 |
|
|
Other real estate owned, net
|
|
|
110 |
|
|
|
186 |
|
|
Stock in Federal Home Loan Bank ("FHLB") and Federal Reserve Bank
("FRB"), at cost
|
|
|
7,490 |
|
|
|
7,490 |
|
|
Premises and equipment, net
|
|
|
24,241 |
|
|
|
24,346 |
|
|
Accrued interest receivable
|
|
|
4,354 |
|
|
|
4,563 |
|
|
Bank-owned life insurance
|
|
|
18,996 |
|
|
|
18,945 |
|
|
Deferred taxes
|
|
|
3,520 |
|
|
|
3,873 |
|
|
Other assets
|
|
|
8,627 |
|
|
|
10,086 |
|
|
Total assets
|
|
$ |
1,604,943 |
|
|
$ |
1,488,015 |
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
|
|
|
Deposits
|
|
|
|
|
|
|
|
|
|
Noninterest-bearing
|
|
$ |
328,915 |
|
|
$ |
210,762 |
|
|
Interest-bearing
|
|
|
1,073,329 |
|
|
|
1,073,995 |
|
|
Total deposits
|
|
|
1,402,244 |
|
|
|
1,284,757 |
|
|
Borrowings
|
|
|
4,000 |
|
|
|
61 |
|
|
Advance payments by borrowers for taxes and insurance
|
|
|
9,998 |
|
|
|
10,222 |
|
|
Accrued interest payable and other liabilities
|
|
|
16,304 |
|
|
|
18,603 |
|
|
Total liabilities
|
|
|
1,432,546 |
|
|
|
1,313,643 |
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders’ equity
|
|
|
|
|
|
|
|
|
|
Preferred Stock, $0.01 par value,
25,000,000 shares
authorized, none issued
or outstanding
|
|
|
— |
|
|
|
— |
|
|
Common Stock, $0.01 par value,
100,000,000 shares
authorized; 14,824,628 shares issued at
September 30, 2020 and 15,278,464 issued at December 31,
2019
|
|
|
148 |
|
|
|
153 |
|
|
Additional paid-in capital
|
|
|
108,231 |
|
|
|
112,420 |
|
|
Retained earnings
|
|
|
63,787 |
|
|
|
61,573 |
|
|
Accumulated other comprehensive income
|
|
|
231 |
|
|
|
226 |
|
|
Total stockholders’ equity
|
|
|
172,397 |
|
|
|
174,372 |
|
|
Total liabilities and stockholders’ equity
|
|
$ |
1,604,943 |
|
|
$ |
1,488,015 |
|
See accompanying notes to the consolidated financial
statements.
BANKFINANCIAL CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share and per share data) - Unaudited
|
|
|
Three
Months Ended
|
|
|
Nine
Months Ended
|
|
|
|
|
September
30,
|
|
|
September
30,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
2020
|
|
|
2019
|
|
|
Interest and dividend income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans, including fees
|
|
$ |
12,027 |
|
|
$ |
15,371 |
|
|
$ |
38,307 |
|
|
$ |
46,112 |
|
|
Securities
|
|
|
183 |
|
|
|
508 |
|
|
|
758 |
|
|
|
1,712 |
|
|
Other
|
|
|
275 |
|
|
|
749 |
|
|
|
1,267 |
|
|
|
1,852 |
|
|
Total interest income
|
|
|
12,485 |
|
|
|
16,628 |
|
|
|
40,332 |
|
|
|
49,676 |
|
|
Interest expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits
|
|
|
1,488 |
|
|
|
3,385 |
|
|
|
6,041 |
|
|
|
10,023 |
|
|
Borrowings
|
|
|
— |
|
|
|
1 |
|
|
|
— |
|
|
|
89 |
|
|
Total interest expense
|
|
|
1,488 |
|
|
|
3,386 |
|
|
|
6,041 |
|
|
|
10,112 |
|
|
Net interest income
|
|
|
10,997 |
|
|
|
13,242 |
|
|
|
34,291 |
|
|
|
39,564 |
|
|
Provision for (recovery of ) loan losses
|
|
|
(187 |
) |
|
|
(134 |
) |
|
|
326 |
|
|
|
3,736 |
|
|
Net interest income after provision for (recovery of) loan
losses
|
|
|
11,184 |
|
|
|
13,376 |
|
|
|
33,965 |
|
|
|
35,828 |
|
|
Noninterest income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposit service charges and fees
|
|
|
833 |
|
|
|
983 |
|
|
|
2,456 |
|
|
|
2,887 |
|
|
Loan servicing fees
|
|
|
44 |
|
|
|
99 |
|
|
|
189 |
|
|
|
178 |
|
|
Mortgage brokerage and banking fees
|
|
|
44 |
|
|
|
28 |
|
|
|
84 |
|
|
|
77 |
|
|
Gain on sale of equity securities
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
295 |
|
|
Loss on disposal of other assets
|
|
|
— |
|
|
|
— |
|
|
|
(2 |
) |
|
|
(19 |
) |
|
Trust and insurance commissions and annuities income
|
|
|
222 |
|
|
|
198 |
|
|
|
728 |
|
|
|
627 |
|
|
Earnings on bank-owned life insurance
|
|
|
10 |
|
|
|
37 |
|
|
|
51 |
|
|
|
105 |
|
|
Other
|
|
|
111 |
|
|
|
129 |
|
|
|
319 |
|
|
|
374 |
|
|
Total noninterest income
|
|
|
1,264 |
|
|
|
1,474 |
|
|
|
3,825 |
|
|
|
4,524 |
|
|
Noninterest expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Compensation and benefits
|
|
|
5,398 |
|
|
|
5,218 |
|
|
|
16,084 |
|
|
|
16,128 |
|
|
Office occupancy and equipment
|
|
|
1,860 |
|
|
|
1,879 |
|
|
|
5,383 |
|
|
|
5,348 |
|
|
Advertising and public relations
|
|
|
135 |
|
|
|
182 |
|
|
|
405 |
|
|
|
488 |
|
|
Information technology
|
|
|
781 |
|
|
|
892 |
|
|
|
2,453 |
|
|
|
2,351 |
|
|
Professional fees
|
|
|
307 |
|
|
|
213 |
|
|
|
831 |
|
|
|
757 |
|
|
Supplies, telephone, and postage
|
|
|
288 |
|
|
|
312 |
|
|
|
875 |
|
|
|
1,037 |
|
|
Amortization of intangibles
|
|
|
6 |
|
|
|
13 |
|
|
|
27 |
|
|
|
47 |
|
|
Nonperforming asset management
|
|
|
57 |
|
|
|
17 |
|
|
|
154 |
|
|
|
129 |
|
|
Operations of other real estate owned, net
|
|
|
23 |
|
|
|
19 |
|
|
|
13 |
|
|
|
22 |
|
|
FDIC insurance premiums
|
|
|
105 |
|
|
|
(127 |
) |
|
|
241 |
|
|
|
127 |
|
|
Other
|
|
|
827 |
|
|
|
891 |
|
|
|
2,198 |
|
|
|
2,645 |
|
|
Total noninterest expense
|
|
|
9,787 |
|
|
|
9,509 |
|
|
|
28,664 |
|
|
|
29,079 |
|
|
Income before income taxes
|
|
|
2,661 |
|
|
|
5,341 |
|
|
|
9,126 |
|
|
|
11,273 |
|
|
Income tax expense
|
|
|
713 |
|
|
|
1,417 |
|
|
|
2,408 |
|
|
|
2,991 |
|
|
Net income
|
|
$ |
1,948 |
|
|
$ |
3,924 |
|
|
$ |
6,718 |
|
|
$ |
8,282 |
|
|
Basic and diluted earnings per common share
|
|
$ |
0.13 |
|
|
$ |
0.26 |
|
|
$ |
0.45 |
|
|
$ |
0.53 |
|
|
Basic and diluted weighted average common shares outstanding
|
|
|
14,842,150 |
|
|
|
15,373,964 |
|
|
|
15,008,271 |
|
|
|
15,679,927 |
|
See accompanying notes to the consolidated financial
statements.
BANKFINANCIAL CORPORATION
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In thousands) - Unaudited
|
|
|
Three
Months Ended
|
|
|
Nine
Months Ended
|
|
|
|
|
September
30,
|
|
|
September
30,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
2020
|
|
|
2019
|
|
|
Net income
|
|
$ |
1,948 |
|
|
$ |
3,924 |
|
|
$ |
6,718 |
|
|
$ |
8,282 |
|
|
Unrealized holding gain (loss) arising during the period
|
|
|
(4 |
) |
|
|
(16 |
) |
|
|
7 |
|
|
|
9 |
|
|
Tax effect
|
|
|
— |
|
|
|
5 |
|
|
|
(2 |
) |
|
|
(2 |
) |
|
Net of tax
|
|
|
(4 |
) |
|
|
(11 |
) |
|
|
5 |
|
|
|
7 |
|
|
Comprehensive income
|
|
$ |
1,944 |
|
|
$ |
3,913 |
|
|
$ |
6,723 |
|
|
$ |
8,289 |
|
See accompanying notes to the consolidated financial
statements.
BANKFINANCIAL CORPORATION
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’
EQUITY
(In thousands, except per share data) - Unaudited
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated
|
|
|
|
|
|
|
|
|
|
|
|
|
Additional
|
|
|
|
|
|
|
Other
|
|
|
|
|
|
|
|
|
Common
|
|
|
Paid-in
|
|
|
Retained
|
|
|
Comprehensive
|
|
|
|
|
|
|
|
|
Stock
|
|
|
Capital
|
|
|
Earnings
|
|
|
Income
|
|
|
Total
|
|
|
For the three months ended
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at July, 1 2019
|
|
$ |
154 |
|
|
$ |
113,717 |
|
|
$ |
57,331 |
|
|
$ |
289 |
|
|
$ |
171,491 |
|
|
Net income
|
|
|
— |
|
|
|
— |
|
|
|
3,924 |
|
|
|
— |
|
|
|
3,924 |
|
|
Other comprehensive loss, net of tax
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(11 |
) |
|
|
(11 |
) |
|
Cash dividends declared on common stock ($0.10 per share)
|
|
|
— |
|
|
|
— |
|
|
|
(1,537 |
) |
|
|
— |
|
|
|
(1,537 |
) |
|
Balance at September 30, 2019
|
|
$ |
154 |
|
|
$ |
113,717 |
|
|
$ |
59,718 |
|
|
$ |
278 |
|
|
$ |
173,867 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at July, 1 2020
|
|
$ |
149 |
|
|
$ |
108,748 |
|
|
$ |
63,322 |
|
|
$ |
235 |
|
|
$ |
172,454 |
|
|
Net income
|
|
|
— |
|
|
|
— |
|
|
|
1,948 |
|
|
|
— |
|
|
|
1,948 |
|
|
Other comprehensive loss, net of tax
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(4 |
) |
|
|
(4 |
) |
|
Repurchase and retirement of common stock (66,000 shares)
|
|
|
(1 |
) |
|
|
(517 |
) |
|
|
— |
|
|
|
— |
|
|
|
(518 |
) |
|
Cash dividends declared on common stock ($0.10 per share)
|
|
|
— |
|
|
|
— |
|
|
|
(1,483 |
) |
|
|
— |
|
|
|
(1,483 |
) |
|
Balance at September 30, 2020
|
|
$ |
148 |
|
|
$ |
108,231 |
|
|
$ |
63,787 |
|
|
$ |
231 |
|
|
$ |
172,397 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the nine months ended
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at January 1, 2019
|
|
$ |
165 |
|
|
$ |
130,547 |
|
|
$ |
56,167 |
|
|
$ |
271 |
|
|
$ |
187,150 |
|
|
Net income
|
|
|
— |
|
|
|
— |
|
|
|
8,282 |
|
|
|
— |
|
|
|
8,282 |
|
|
Other comprehensive income, net of tax
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
7 |
|
|
|
7 |
|
|
Repurchase and retirement of common stock (1,107,550 shares)
|
|
|
(11 |
) |
|
|
(16,830 |
) |
|
|
— |
|
|
|
— |
|
|
|
(16,841 |
) |
|
Cash dividends declared on common stock ($0.30 per share)
|
|
|
— |
|
|
|
— |
|
|
|
(4,731 |
) |
|
|
— |
|
|
|
(4,731 |
) |
|
Balance at September 30, 2019
|
|
$ |
154 |
|
|
$ |
113,717 |
|
|
$ |
59,718 |
|
|
$ |
278 |
|
|
$ |
173,867 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at January 1, 2020
|
|
$ |
153 |
|
|
$ |
112,420 |
|
|
$ |
61,573 |
|
|
$ |
226 |
|
|
$ |
174,372 |
|
|
Net income
|
|
|
— |
|
|
|
— |
|
|
|
6,718 |
|
|
|
— |
|
|
|
6,718 |
|
|
Other comprehensive income, net of tax
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
5 |
|
|
|
5 |
|
|
Repurchase and retirement of common stock (453,836 shares)
|
|
|
(5 |
) |
|
|
(4,189 |
) |
|
|
— |
|
|
|
— |
|
|
|
(4,194 |
) |
|
Cash dividends declared on common stock ($0.30 per share)
|
|
|
— |
|
|
|
— |
|
|
|
(4,504 |
) |
|
|
— |
|
|
|
(4,504 |
) |
|
Balance at September 30, 2020
|
|
$ |
148 |
|
|
$ |
108,231 |
|
|
$ |
63,787 |
|
|
$ |
231 |
|
|
$ |
172,397 |
|
See accompanying notes to the consolidated financial
statements.
BANKFINANCIAL CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands) - Unaudited
|
|
|
Nine
Months Ended
|
|
|
|
|
September
30,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
Cash flows from operating activities
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$ |
6,718 |
|
|
$ |
8,282 |
|
|
Adjustments to reconcile to net income to net cash from operating
activities
|
|
|
|
|
|
|
|
|
|
Provision for loan losses
|
|
|
326 |
|
|
|
3,736 |
|
|
Depreciation
|
|
|
1,236 |
|
|
|
1,211 |
|
|
Amortization of premiums and discounts on securities
|
|
|
4 |
|
|
|
4 |
|
|
Amortization of intangibles
|
|
|
27 |
|
|
|
47 |
|
|
Amortization of servicing assets
|
|
|
56 |
|
|
|
63 |
|
|
Net change in net deferred loan origination costs
|
|
|
545 |
|
|
|
127 |
|
|
Gain on sale of other real estate owned
|
|
|
(22 |
) |
|
|
(112 |
) |
|
Gain on sale of equity securities
|
|
|
— |
|
|
|
(295 |
) |
|
Loss on disposal of other assets
|
|
|
2 |
|
|
|
19 |
|
|
Other real estate owned valuation adjustments
|
|
|
— |
|
|
|
38 |
|
|
Earnings on bank-owned life insurance
|
|
|
(51 |
) |
|
|
(105 |
) |
|
Net change in:
|
|
|
|
|
|
|
|
|
|
Accrued interest receivable
|
|
|
209 |
|
|
|
189 |
|
|
Other assets
|
|
|
1,942 |
|
|
|
4,379 |
|
|
Accrued interest payable and other liabilities
|
|
|
(2,399 |
) |
|
|
(3,570 |
) |
|
Net cash from operating activities
|
|
|
8,593 |
|
|
|
14,013 |
|
|
Cash flows from investing activities
|
|
|
|
|
|
|
|
|
|
Securities
|
|
|
|
|
|
|
|
|
|
Proceeds from maturities
|
|
|
55,599 |
|
|
|
79,210 |
|
|
Proceeds from principal repayments
|
|
|
2,206 |
|
|
|
2,234 |
|
|
Proceeds from sale of equity securities
|
|
|
— |
|
|
|
3,722 |
|
|
Purchases of securities
|
|
|
(39,657 |
) |
|
|
(58,700 |
) |
|
Net decrease in loans receivable
|
|
|
101,108 |
|
|
|
105,846 |
|
|
Purchase of FHLB and FRB stock
|
|
|
— |
|
|
|
(4 |
) |
|
Redemption of FHLB and FRB stock
|
|
|
— |
|
|
|
540 |
|
|
Proceeds from sale of other real estate owned
|
|
|
120 |
|
|
|
1,107 |
|
|
Purchase of premises and equipment, net
|
|
|
(1,133 |
) |
|
|
(623 |
) |
|
Net cash from investing activities
|
|
|
118,243 |
|
|
|
133,332 |
|
|
Cash flows from financing activities |
|
|
|
|
|
|
|
|
|
Net change in: |
|
|
|
|
|
|
|
|
|
Deposits |
|
|
117,487 |
|
|
|
(63,659 |
) |
|
Borrowings |
|
|
3,939 |
|
|
|
(19,796 |
) |
|
Advance payments by borrowers for taxes and insurance |
|
|
(224 |
) |
|
|
271 |
|
|
Repurchase and retirement of common stock |
|
|
(4,194 |
) |
|
|
(16,841 |
) |
|
Cash dividends paid on common stock |
|
|
(4,504 |
) |
|
|
(4,731 |
) |
|
Net cash from (used in) financing activities |
|
|
112,504 |
|
|
|
(104,756 |
) |
|
Net change in cash and cash equivalents |
|
|
239,340 |
|
|
|
42,589 |
|
|
Beginning cash and cash equivalents |
|
|
190,325 |
|
|
|
98,204 |
|
|
Ending cash and cash equivalents |
|
$ |
429,665 |
|
|
$ |
140,793 |
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental disclosures of cash flow information: |
|
|
|
|
|
|
|
|
|
Interest paid |
|
$ |
6,047 |
|
|
$ |
10,295 |
|
|
Income taxes paid |
|
|
155 |
|
|
|
349 |
|
|
Income taxes refunded |
|
|
8 |
|
|
|
10 |
|
|
Loans transferred to other real estate owned |
|
|
33 |
|
|
|
76 |
|
|
Recording of right of use asset in exchange for lease obligations
in other assets and other liabilities |
|
|
111 |
|
|
|
6,694 |
|
See accompanying notes to the consolidated financial
statements.
BANKFINANCIAL CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Table amounts in thousands, except share and per share data)
NOTE 1 - SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES
Basis of Presentation: BankFinancial Corporation, a
Maryland corporation headquartered in Burr Ridge, Illinois, is the
owner of all of the issued and outstanding capital stock of
BankFinancial, NA (the “Bank”). The interim unaudited consolidated
financial statements include the accounts and transactions of
BankFinancial Corporation, the Bank, and the Bank’s wholly-owned
subsidiaries, Financial Assurance Services, Inc. and BFIN Asset
Recovery Company, LLC (collectively, “the Company”), and reflect
all normal and recurring adjustments that are, in the opinion of
management, considered necessary for a fair presentation of the
financial condition and results of operations for the periods
presented. Such adjustments are the only adjustments reflected in
the accompanying financial statements. All significant intercompany
accounts and transactions have been eliminated. The results of
operations for the three
and nine month periods ended
September 30, 2020 are not necessarily indicative of the results of
operations that may be expected for
the year ending December 31,
2020 or for any other period.
Certain information and note disclosures normally included in
financial statements prepared in conformity with accounting
principles generally accepted in the United States of America
(“US GAAP”) have been condensed or omitted pursuant to the
rules and regulations of the Securities and Exchange Commission
(“SEC”).
Use of Estimates: The preparation of the
consolidated financial statements in conformity with US GAAP
requires management to make estimates and assumptions that
affect the amounts reported in the consolidated financial
statements and accompanying notes. Although these estimates and
assumptions are based on the best available information, actual
information, actual results could differ from those
estimates.
COVID-19: The Company
has evaluated subsequent events for potential recognition and/or
disclosure through the date the unaudited consolidated
financial statements included in this Quarterly Report on Form
10-Q were issued. On March 11, 2020, the World Health
Organization declared the outbreak of a novel coronavirus
(“COVID-19”) as a global pandemic,
which continues to spread throughout the United States and
around the world. The declaration of a global pandemic indicates
that almost all public commerce and related business
activities must be, to varying degrees, curtailed with the goal of
decreasing the rate of new infections. The outbreak of
COVID-19 has adversely impacted,
and could further adversely impact, a broad range of industries in
which the Company’s customers operate and impair their ability
to fulfill their financial obligations to the Company. On
March 3, 2020, the Federal Open
Market Committee reduced the target federal funds rate by
50 basis points to 1.00% to 1.25%. This rate was further reduced to a
target range of 0% to
0.25% on March 16, 2020. These reductions in interest
rates and other effects of the COVID-19 outbreak may adversely affect the Company’s
financial condition and results of operations. As a result of the
spread of the COVID-19 coronavirus,
economic uncertainties have arisen which are likely to
negatively impact net interest income and noninterest income. Other
financial impacts could occur though such potential impact is
unknown at this time.
Reclassifications: Certain reclassifications have
been made in the prior period’s financial statements to conform
them to the current period’s presentation.
These unaudited consolidated financial statements should be read in
conjunction with the Company’s Annual Report on
Form 10-K for the year ended
December 31, 2019, as filed with
the Securities and Exchange Commission.
Newly Issued Not Yet
Effective Accounting Standards
In June 2016, the FASB issued ASU
No. 2016-13,
“Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on
Financial Instruments” (“ASU 2016-13”).
These amendments require the measurement of all expected credit
losses for financial assets held at the reporting date based
on historical experience, current conditions, and reasonable and
supportable forecasts. Financial institutions and other
organizations will now use forward-looking information to better
inform their credit loss estimates. Many of the loss
estimation techniques applied today will still be permitted,
although the inputs to those techniques will change to reflect
the full amount of expected credit losses. In addition, the ASU
amends the accounting for credit losses on available-for-sale
debt securities and purchased financial assets with credit
deterioration. For SEC filers who are smaller
reporting companies, such as the Company, ASU 2016-13 is
effective for fiscal years, and interim periods within those fiscal
years, beginning after December
15, 2022.
NOTE 2 - EARNINGS PER
SHARE
Amounts reported in earnings per share reflect earnings available
to common stockholders for the period divided by the weighted
average number of shares of common stock outstanding during the
period.
|
|
|
Three
Months Ended
|
|
|
Nine
Months Ended
|
|
|
|
|
September
30,
|
|
|
September
30,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
2020
|
|
|
2019
|
|
|
Net income available to common stockholders
|
|
$ |
1,948 |
|
|
$ |
3,924 |
|
|
$ |
6,718 |
|
|
$ |
8,282 |
|
|
Basic and diluted weighted average common shares outstanding
|
|
|
14,842,150 |
|
|
|
15,373,964 |
|
|
|
15,008,271 |
|
|
|
15,679,927 |
|
|
Basic and diluted earnings per common share
|
|
$ |
0.13 |
|
|
$ |
0.26 |
|
|
$ |
0.45 |
|
|
$ |
0.53 |
|
BANKFINANCIAL CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Table amounts in thousands, except share and per share data)
NOTE 3 - SECURITIES
The fair value of securities and the related gross unrealized gains
and losses recognized in accumulated other comprehensive income is
as follows:
|
|
|
Amortized Cost
|
|
|
Gross Unrealized Gains
|
|
|
Gross Unrealized Losses
|
|
|
Fair Value
|
|
|
Available-for-Sale
Securities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2020
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Certificates of deposit
|
|
$ |
32,724 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
32,724 |
|
|
Municipal securities
|
|
|
503 |
|
|
|
9 |
|
|
|
— |
|
|
|
512 |
|
|
Mortgage-backed securities - residential
|
|
|
6,124 |
|
|
|
305 |
|
|
|
— |
|
|
|
6,429 |
|
|
Collateralized mortgage obligations - residential
|
|
|
2,381 |
|
|
|
4 |
|
|
|
(2 |
) |
|
|
2,383 |
|
|
|
|
$ |
41,732 |
|
|
$ |
318 |
|
|
$ |
(2 |
) |
|
$ |
42,048 |
|
|
December 31, 2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Certificates of deposit
|
|
$ |
48,666 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
48,666 |
|
|
Municipal securities
|
|
|
505 |
|
|
|
8 |
|
|
|
— |
|
|
|
513 |
|
|
Mortgage-backed securities - residential
|
|
|
7,727 |
|
|
|
310 |
|
|
|
— |
|
|
|
8,037 |
|
|
Collateralized mortgage obligations - residential
|
|
|
2,986 |
|
|
|
4 |
|
|
|
(13 |
) |
|
|
2,977 |
|
|
|
|
$ |
59,884 |
|
|
$ |
322 |
|
|
$ |
(13 |
) |
|
$ |
60,193 |
|
The mortgage-backed securities and collateralized mortgage
obligations reflected in the preceding table were issued by U.S.
government-sponsored entities or agencies, Freddie Mac, Fannie Mae
and Ginnie Mae, and are obligations which the government has
affirmed its commitment to support.
The amortized cost and fair values of securities by contractual
maturity are shown below. Securities not due at a single maturity date are shown
separately. Expected maturities may
differ from contractual maturities because borrowers may have the right to call or prepay
obligations with or without call or prepayment penalties.
|
|
|
September
30, 2020
|
|
|
|
|
Amortized Cost
|
|
|
Fair Value
|
|
|
Due in one year or less
|
|
$ |
32,576 |
|
|
$ |
32,577 |
|
|
Due after one year through five years
|
|
|
651 |
|
|
|
659 |
|
|
|
|
|
33,227 |
|
|
|
33,236 |
|
|
Mortgage-backed securities - residential
|
|
|
6,124 |
|
|
|
6,429 |
|
|
Collateralized mortgage obligations - residential
|
|
|
2,381 |
|
|
|
2,383 |
|
|
|
|
$ |
41,732 |
|
|
$ |
42,048 |
|
Investment securities available-for-sale with carrying values of
$1.2 million and $2.0 million at September 30, 2020 and December 31, 2019, respectively, were pledged
as collateral on customer repurchase agreements and for other
purposes as required or permitted by law.
BANKFINANCIAL CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Table amounts in thousands, except share and per share data)
NOTE 3 - SECURITIES
(continued)
Sales of equity securities were as follows:
|
|
|
Three
Months Ended
|
|
|
Nine
Months Ended
|
|
|
|
|
September
30,
|
|
|
September
30,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
2020
|
|
|
2019
|
|
|
Proceeds
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
3,722 |
|
|
Gross gains
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
295 |
|
|
Gross losses
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Securities with unrealized losses not recognized in income are as follows:
|
|
|
|
|
|
|
Less than
12 Months
|
|
|
|
|
|
|
12 Months
or More
|
|
|
|
|
|
|
Total
|
|
|
|
|
Count
|
|
|
Fair Value
|
|
|
Unrealized Loss
|
|
|
Count
|
|
|
Fair Value
|
|
|
Unrealized Loss
|
|
|
Count
|
|
|
Fair Value
|
|
|
Unrealized Loss
|
|
|
September 30, 2020
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Collateralized mortgage obligations - residential |
|
|
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
3 |
|
|
$ |
1,695 |
|
|
$ |
(2 |
) |
|
|
3 |
|
|
$ |
1,695 |
|
|
$ |
(2 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Collateralized mortgage obligations - residential
|
|
|
3 |
|
|
$ |
1,566 |
|
|
$ |
(10 |
) |
|
|
1 |
|
|
$ |
937 |
|
|
$ |
(3 |
) |
|
|
4 |
|
|
$ |
2,503 |
|
|
$ |
(13 |
) |
The Company evaluates marketable investment securities with
significant declines in fair value on a quarterly basis to
determine whether they should be considered other-than-temporarily
impaired under current accounting guidance, which generally
provides that if a marketable security is in an unrealized loss
position, whether due to general market conditions or industry or
issuer-specific factors, the holder of the securities must assess
whether the impairment is other-than-temporary.
Certain collateralized mortgage obligations that the Company holds
in its investment portfolio were in an unrealized loss position at
September 30, 2020, but the
unrealized losses were not
considered significant under the Company’s impairment testing
methodology. In addition, the Company does not intend to sell these securities, and it
is likely that the Company will not
be required to sell these securities before their anticipated
recovery occurs.
The Bank, as a member of Visa USA, received 51,404 unrestricted
shares of Visa, Inc. Class B common stock in connection with Visa,
Inc.’s initial public offering in 2007 and a related retroactive responsibility
plan. The retroactive responsibility plan obligates all former Visa
USA members to indemnify Visa USA, in proportion to their equity
interests in Visa USA, for certain litigation losses and expenses,
including settlement expenses, for the lawsuits covered by the
retrospective responsibility plan. Due to the restrictions that the
retrospective responsibility plan imposes on the Company’s Visa,
Inc. Class B shares, the Company did not record the Class B shares as an
asset.
The Bank sold 25,702 shares of Visa Class B common stock in the
fourth quarter of 2018 and the remaining 25,702 shares of Visa
Class B common stock in the first
quarter of 2019 and recorded an
aggregate gain of $295,000.
BANKFINANCIAL CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Table amounts in thousands, except share and per share data)
NOTE 4 - LOANS
RECEIVABLE
Loans receivable are as follows:
|
|
|
September 30, 2020
|
|
|
December 31, 2019
|
|
|
One-to-four family residential real estate
|
|
$ |
44,812 |
|
|
$ |
55,750 |
|
|
Multi-family mortgage
|
|
|
522,825 |
|
|
|
563,750 |
|
|
Nonresidential real estate
|
|
|
124,477 |
|
|
|
134,674 |
|
|
Commercial loans and leases
|
|
|
379,638 |
|
|
|
418,343 |
|
|
Consumer
|
|
|
1,784 |
|
|
|
2,211 |
|
|
|
|
|
1,073,536 |
|
|
|
1,174,728 |
|
|
Net deferred loan origination costs
|
|
|
367 |
|
|
|
912 |
|
|
Allowance for loan losses
|
|
|
(8,011 |
) |
|
|
(7,632 |
) |
|
Loans, net
|
|
$ |
1,065,892 |
|
|
$ |
1,168,008 |
|
The following tables present the balance in the allowance for loan
losses and loans receivable by portfolio segment and based on
impairment method:
|
|
|
Allowance for loan losses
|
|
|
Loan Balances
|
|
|
|
|
Individually evaluated for
impairment
|
|
|
Collectively evaluated for
impairment
|
|
|
Total
|
|
|
Individually evaluated for
impairment
|
|
|
Collectively evaluated for
impairment
|
|
|
Total
|
|
|
September 30, 2020
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
One-to-four family residential real estate
|
|
$ |
— |
|
|
$ |
623 |
|
|
$ |
623 |
|
|
$ |
1,746 |
|
|
$ |
43,066 |
|
|
$ |
44,812 |
|
|
Multi-family mortgage
|
|
|
— |
|
|
|
4,143 |
|
|
|
4,143 |
|
|
|
596 |
|
|
|
522,229 |
|
|
|
522,825 |
|
|
Nonresidential real estate
|
|
|
20 |
|
|
|
1,697 |
|
|
|
1,717 |
|
|
|
1,870 |
|
|
|
122,607 |
|
|
|
124,477 |
|
|
Commercial loans and leases
|
|
|
— |
|
|
|
1,480 |
|
|
|
1,480 |
|
|
|
155 |
|
|
|
379,483 |
|
|
|
379,638 |
|
|
Consumer
|
|
|
— |
|
|
|
48 |
|
|
|
48 |
|
|
|
— |
|
|
|
1,784 |
|
|
|
1,784 |
|
|
|
|
$ |
20 |
|
|
$ |
7,991 |
|
|
$ |
8,011 |
|
|
$ |
4,367 |
|
|
$ |
1,069,169 |
|
|
|
1,073,536 |
|
|
Net deferred loan origination costs
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
367 |
|
|
Allowance for loan losses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(8,011 |
) |
|
Loans, net
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,065,892 |
|
|
|
|
Allowance for loan losses
|
|
|
Loan Balances
|
|
|
|
|
Individually evaluated for
impairment
|
|
|
Collectively evaluated for
impairment
|
|
|
Total
|
|
|
Individually evaluated for
impairment
|
|
|
Collectively evaluated for
impairment
|
|
|
Total
|
|
|
December 31, 2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
One-to-four family residential real estate
|
|
$ |
— |
|
|
$ |
675 |
|
|
$ |
675 |
|
|
$ |
1,835 |
|
|
$ |
53,915 |
|
|
$ |
55,750 |
|
|
Multi-family mortgage
|
|
|
— |
|
|
|
3,676 |
|
|
|
3,676 |
|
|
|
620 |
|
|
|
563,130 |
|
|
|
563,750 |
|
|
Nonresidential real estate
|
|
|
— |
|
|
|
1,176 |
|
|
|
1,176 |
|
|
|
288 |
|
|
|
134,386 |
|
|
|
134,674 |
|
|
Commercial loans and leases
|
|
|
— |
|
|
|
2,065 |
|
|
|
2,065 |
|
|
|
— |
|
|
|
418,343 |
|
|
|
418,343 |
|
|
Consumer
|
|
|
— |
|
|
|
40 |
|
|
|
40 |
|
|
|
— |
|
|
|
2,211 |
|
|
|
2,211 |
|
|
|
|
$ |
— |
|
|
$ |
7,632 |
|
|
$ |
7,632 |
|
|
$ |
2,743 |
|
|
$ |
1,171,985 |
|
|
|
1,174,728 |
|
|
Net deferred loan origination costs
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
912 |
|
|
Allowance for loan losses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(7,632 |
) |
|
Loans, net
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,168,008 |
|
BANKFINANCIAL CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Table amounts in thousands, except share and per share data)
NOTE 4 - LOANS RECEIVABLE
(continued)
The following table represents the activity in the allowance for
loan losses by portfolio segment:
|
|
|
Beginning balance
|
|
|
Provision for (recovery of) loan
losses
|
|
|
Loans charged off
|
|
|
Recoveries
|
|
|
Ending balance
|
|
|
For the three months ended
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2020
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
One-to-four family residential real estate
|
|
$ |
665 |
|
|
$ |
(42 |
) |
|
$ |
(2 |
) |
|
$ |
2 |
|
|
$ |
623 |
|
|
Multi-family mortgage
|
|
|
4,185 |
|
|
|
(98 |
) |
|
|
— |
|
|
|
56 |
|
|
|
4,143 |
|
|
Nonresidential real estate
|
|
|
1,602 |
|
|
|
115 |
|
|
|
— |
|
|
|
— |
|
|
|
1,717 |
|
|
Commercial loans and leases
|
|
|
1,658 |
|
|
|
(178 |
) |
|
|
— |
|
|
|
— |
|
|
|
1,480 |
|
|
Consumer
|
|
|
46 |
|
|
|
16 |
|
|
|
(14 |
) |
|
|
— |
|
|
|
48 |
|
|
|
|
$ |
8,156 |
|
|
$ |
(187 |
) |
|
$ |
(16 |
) |
|
$ |
58 |
|
|
$ |
8,011 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
One-to-four family residential real estate
|
|
$ |
563 |
|
|
$ |
56 |
|
|
$ |
(44 |
) |
|
$ |
5 |
|
|
$ |
580 |
|
|
Multi-family mortgage
|
|
|
3,988 |
|
|
|
(268 |
) |
|
|
— |
|
|
|
8 |
|
|
|
3,728 |
|
|
Nonresidential real estate
|
|
|
1,195 |
|
|
|
77 |
|
|
|
(55 |
) |
|
|
— |
|
|
|
1,217 |
|
|
Construction and land
|
|
|
3 |
|
|
|
(1 |
) |
|
|
— |
|
|
|
— |
|
|
|
2 |
|
|
Commercial loans and leases
|
|
|
2,044 |
|
|
|
(8 |
) |
|
|
— |
|
|
|
4 |
|
|
|
2,040 |
|
|
Consumer
|
|
|
31 |
|
|
|
10 |
|
|
|
(5 |
) |
|
|
— |
|
|
|
36 |
|
|
|
|
$ |
7,824 |
|
|
$ |
(134 |
) |
|
$ |
(104 |
) |
|
$ |
17 |
|
|
$ |
7,603 |
|
|
For the nine months ended
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2020
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
One-to-four family residential real estate
|
|
$ |
675 |
|
|
$ |
(63 |
) |
|
$ |
(7 |
) |
|
$ |
18 |
|
|
$ |
623 |
|
|
Multi-family mortgage
|
|
|
3,676 |
|
|
|
384 |
|
|
|
— |
|
|
|
83 |
|
|
|
4,143 |
|
|
Nonresidential real estate
|
|
|
1,176 |
|
|
|
541 |
|
|
|
— |
|
|
|
— |
|
|
|
1,717 |
|
|
Commercial loans and leases
|
|
|
2,065 |
|
|
|
(588 |
) |
|
|
— |
|
|
|
3 |
|
|
|
1,480 |
|
|
Consumer
|
|
|
40 |
|
|
|
52 |
|
|
|
(44 |
) |
|
|
— |
|
|
|
48 |
|
|
|
|
$ |
7,632 |
|
|
$ |
326 |
|
|
$ |
(51 |
) |
|
$ |
104 |
|
|
$ |
8,011 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
One-to-four family residential real estate
|
|
$ |
699 |
|
|
$ |
(30 |
) |
|
$ |
(117 |
) |
|
$ |
28 |
|
|
$ |
580 |
|
|
Multi-family mortgage
|
|
|
3,991 |
|
|
|
(287 |
) |
|
|
— |
|
|
|
24 |
|
|
|
3,728 |
|
|
Nonresidential real estate
|
|
|
1,476 |
|
|
|
(176 |
) |
|
|
(83 |
) |
|
|
— |
|
|
|
1,217 |
|
|
Construction and land
|
|
|
4 |
|
|
|
(2 |
) |
|
|
— |
|
|
|
— |
|
|
|
2 |
|
|
Commercial loans and leases
|
|
|
2,272 |
|
|
|
4,203 |
|
|
|
(4,443 |
) |
|
|
8 |
|
|
|
2,040 |
|
|
Consumer
|
|
|
28 |
|
|
|
28 |
|
|
|
(20 |
) |
|
|
— |
|
|
|
36 |
|
|
|
|
$ |
8,470 |
|
|
$ |
3,736 |
|
|
$ |
(4,663 |
) |
|
$ |
60 |
|
|
$ |
7,603 |
|
BANKFINANCIAL CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Table amounts in thousands, except share and per share data)
NOTE 4 - LOANS RECEIVABLE
(continued)
Impaired loans
The following tables present loans individually evaluated for
impairment by class of loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three
Months Ended
|
|
|
Nine
Months Ended
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September
30, 2020
|
|
|
September
30, 2020
|
|
|
|
|
Loan Balance
|
|
|
Recorded Investment
|
|
|
Partial Charge off |
|
|
Allowance for Loan Losses
Allocated
|
|
|
Average Investment in Impaired
Loans
|
|
|
Interest Income
Recognized
|
|
|
Average Investment in Impaired
Loans
|
|
|
Interest Income
Recognized
|
|
|
September 30, 2020
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
With no related allowance recorded:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
One-to-four family residential real estate
|
|
$ |
2,092 |
|
|
$ |
1,746 |
|
|
$ |
358 |
|
|
$ |
— |
|
|
$ |
1,760 |
|
|
$ |
10 |
|
|
$ |
1,798 |
|
|
$ |
34 |
|
|
Multi-family mortgage - Illinois
|
|
|
596 |
|
|
|
596 |
|
|
|
— |
|
|
|
— |
|
|
|
600 |
|
|
|
8 |
|
|
|
608 |
|
|
|
26 |
|
|
Nonresidential real estate
|
|
|
1,582 |
|
|
|
1,582 |
|
|
|
— |
|
|
|
— |
|
|
|
791 |
|
|
|
— |
|
|
|
316 |
|
|
|
32 |
|
|
Commercial leases - other
|
|
|
155 |
|
|
|
155 |
|
|
|
— |
|
|
|
— |
|
|
|
478 |
|
|
|
27 |
|
|
|
259 |
|
|
|
27 |
|
|
|
|
|
4,425 |
|
|
|
4,079 |
|
|
|
358 |
|
|
|
— |
|
|
|
3,629 |
|
|
|
45 |
|
|
|
2,981 |
|
|
|
119 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
With a related allowance recorded - nonresidential |
|
|
280 |
|
|
|
288 |
|
|
|
— |
|
|
|
20 |
|
|
|
288 |
|
|
|
— |
|
|
|
288 |
|
|
|
— |
|
|
|
|
$ |
4,705 |
|
|
$ |
4,367 |
|
|
$ |
358 |
|
|
$ |
20 |
|
|
$ |
3,917 |
|
|
$ |
45 |
|
|
$ |
3,269 |
|
|
$ |
119 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year
ended
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December
31, 2019
|
|
|
|
|
Loan Balance
|
|
|
Recorded Investment
|
|
|
Partial Charge-off
|
|
|
Allowance for Loan Losses
Allocated
|
|
|
Average Investment in Impaired
Loans
|
|
|
Interest Income
Recognized
|
|
|
December 31, 2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
With no related allowance recorded:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
One-to-four family residential real estate
|
|
$ |
2,168 |
|
|
$ |
1,835 |
|
|
$ |
339 |
|
|
$ |
— |
|
|
$ |
2,208 |
|
|
$ |
51 |
|
|
Multi-family mortgage - Illinois
|
|
|
620 |
|
|
|
620 |
|
|
|
— |
|
|
|
— |
|
|
|
637 |
|
|
|
37 |
|
|
Nonresidential real estate
|
|
|
280 |
|
|
|
288 |
|
|
|
— |
|
|
|
— |
|
|
|
589 |
|
|
|
2 |
|
|
|
|
$ |
3,068 |
|
|
$ |
2,743 |
|
|
$ |
339 |
|
|
$ |
— |
|
|
$ |
3,434 |
|
|
$ |
90 |
|
Nonaccrual Loans
The following tables present the recorded investment in nonaccrual
and loans 90 days or more past due
still on accrual by class of loans:
|
|
|
Loan Balance
|
|
|
Recorded Investment
|
|
|
Loans Past Due Over 90 Days, Still
Accruing
|
|
|
September 30, 2020
|
|
|
|
|
|
|
|
|
|
|
|
|
|
One-to-four family residential real estate
|
|
$ |
485 |
|
|
$ |
465 |
|
|
$ |
— |
|
|
Nonresidential real estate
|
|
|
1,863 |
|
|
|
1,870 |
|
|
|
— |
|
|
|
|
$ |
2,348 |
|
|
$ |
2,335 |
|
|
$ |
— |
|
|
December 31, 2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
One-to-four family residential real estate
|
|
$ |
598 |
|
|
$ |
512 |
|
|
$ |
— |
|
|
Nonresidential real estate
|
|
|
280 |
|
|
|
288 |
|
|
|
— |
|
|
Investment-rated commercial leases
|
|
|
47 |
|
|
|
— |
|
|
|
47 |
|
|
|
|
$ |
925 |
|
|
$ |
800 |
|
|
$ |
47 |
|
Nonaccrual loans and impaired loans are defined differently. Some
loans may be included in both
categories, and some loans may only
be included in one category.
Nonaccrual loans include both smaller balance homogeneous loans
that are collectively evaluated for impairment and individually
classified impaired loans.
The Company’s reserve for uncollected loan interest was $135,000
and $81,000 at September 30, 2020
and December 31, 2019,
respectively. When a loan is on nonaccrual status and the ultimate
collectability of the total principal of an impaired loan is in
doubt, all payments are applied to principal under the cost
recovery method. Alternatively, when a loan is on nonaccrual status
but there is doubt concerning only the ultimate collectability of
interest, contractual interest is credited to interest income only
when received, under the cash basis method pursuant to the
provisions of FASB ASC 310–10, as
applicable. In all cases, the average balances are calculated based
on the month–end balances of the financing receivables within the
period reported pursuant to the provisions of FASB ASC 310–10, as applicable.
BANKFINANCIAL CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Table amounts in thousands, except share and per share data)
NOTE 4 - LOANS RECEIVABLE
(continued)
Past Due Loans
The following tables present the aging of the recorded investment
of loans by class of loans:
|
|
|
30-59 Days Past Due
|
|
|
60-89 Days Past Due
|
|
|
90 Days or Greater Past
Due
|
|
|
Total Past Due
|
|
|
Loans Not Past Due
|
|
|
Total
|
|
|
September 30, 2020 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
One-to-four family residential real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Owner occupied
|
|
$ |
48 |
|
|
$ |
- |
|
|
$ |
462 |
|
|
$ |
510 |
|
|
$ |
35,604 |
|
|
$ |
36,114 |
|
|
Non-owner occupied
|
|
|
3 |
|
|
|
95 |
|
|
|
— |
|
|
$ |
98 |
|
|
|
8,600 |
|
|
|
8,698 |
|
|
Multi-family mortgage:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Illinois
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
224,919 |
|
|
|
224,919 |
|
|
Other
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
297,906 |
|
|
|
297,906 |
|
|
Nonresidential real estate
|
|
|
— |
|
|
|
— |
|
|
|
1,870 |
|
|
|
1,870 |
|
|
|
122,607 |
|
|
|
124,477 |
|
|
Commercial loans and leases:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
90,767 |
|
|
|
90,767 |
|
|
Asset-based
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,471 |
|
|
|
1,471 |
|
|
Equipment finance: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Government |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
71,504 |
|
|
|
71,504 |
|
|
Investment-rated
|
|
|
439 |
|
|
|
124 |
|
|
|
— |
|
|
|
563 |
|
|
|
81,449 |
|
|
|
82,012 |
|
|
Other
|
|
|
633 |
|
|
|
— |
|
|
|
— |
|
|
|
633 |
|
|
|
133,251 |
|
|
|
133,884 |
|
|
Consumer
|
|
|
6 |
|
|
|
4 |
|
|
|
— |
|
|
|
10 |
|
|
|
1,774 |
|
|
|
1,784 |
|
|
|
|
$ |
1,129 |
|
|
$ |
223 |
|
|
$ |
2,332 |
|
|
$ |
3,684 |
|
|
$ |
1,069,852 |
|
|
$ |
1,073,536 |
|
|
|
|
30-59 Days Past Due
|
|
|
60-89 Days Past Due
|
|
|
90 Days or Greater Past
Due
|
|
|
Total Past Due
|
|
|
Loans Not Past Due
|
|
|
Total
|
|
|
December 31, 2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
One-to-four family residential real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Owner occupied
|
|
$ |
777 |
|
|
$ |
340 |
|
|
$ |
507 |
|
|
$ |
1,624 |
|
|
$ |
43,365 |
|
|
$ |
44,989 |
|
|
Non-owner occupied
|
|
|
280 |
|
|
|
15 |
|
|
|
— |
|
|
|
295 |
|
|
|
10,466 |
|
|
|
10,761 |
|
|
Multi-family mortgage:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Illinois
|
|
|
981 |
|
|
|
302 |
|
|
|
— |
|
|
|
1,283 |
|
|
|
246,680 |
|
|
|
247,963 |
|
|
Other
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
315,787 |
|
|
|
315,787 |
|
|
Nonresidential real estate
|
|
|
— |
|
|
|
— |
|
|
|
288 |
|
|
|
288 |
|
|
|
134,386 |
|
|
|
134,674 |
|
|
Commercial loans and leases:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
133,976 |
|
|
|
133,976 |
|
|
Asset-based |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
11,738 |
|
|
|
11,738 |
|
|
Equipment finance: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Government |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
33,555 |
|
|
|
33,555 |
|
|
Investment-rated
|
|
|
826 |
|
|
|
— |
|
|
|
47 |
|
|
|
873 |
|
|
|
101,015 |
|
|
|
101,888 |
|
|
Other
|
|
|
543 |
|
|
|
136 |
|
|
|
— |
|
|
|
679 |
|
|
|
136,507 |
|
|
|
137,186 |
|
|
Consumer
|
|
|
24 |
|
|
|
37 |
|
|
|
— |
|
|
|
61 |
|
|
|
2,150 |
|
|
|
2,211 |
|
|
|
|
$ |
3,431 |
|
|
$ |
830 |
|
|
$ |
842 |
|
|
$ |
5,103 |
|
|
$ |
1,169,625 |
|
|
$ |
1,174,728 |
|
BANKFINANCIAL CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Table amounts in thousands, except share and per share data)
NOTE 4 - LOANS RECEIVABLE
(continued)
U.S. Small
Business Administration Paycheck Protection Program
("PPP")
In response to the COVID-19
pandemic, the Coronavirus Aid, Relief and Economic Security Act
("CARES Act") was passed by Congress and signed into law on
March 27, 2020. The CARES Act
established the Paycheck Protection Program loan, designed to
provide a direct incentive for small businesses to keep their
workers on the payroll. Under the most recently published
guidance, the U.S. Small Business Administration
("SBA") will forgive PPP loans if all employee retention
criteria are met, and the funds are used for eligible
expenses. For the nine months
ended September 30, 2020,
we allocated approximately $11 million to the
PPP based on the expected 100%
guaranty of the SBA.
The following table presents the PPP activity:
|
|
|
Number of loans
|
|
|
Originated
|
|
|
Balance
|
|
|
For the Nine Months Ended September 30, 2020 |
|
|
|
|
|
|
|
|