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28 February, 2024 18:20 IST
BankFinancial Corp first-quarter profit rises 1.22 percent on a YOY basis
Source: IRIS | 29 Jun, 2017, 06.38PM

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BankFinancial Corporation (BFIN) has reported an 1.22 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $1.90 million, or $0.10 a share in the quarter, compared with $1.88 million, or $0.10 a share for the same period last year.      

Revenue during the quarter grew 3.85 percent to $13.99 million from $13.47 million in the previous year period. Net interest income for the quarter dropped 1.51 percent over the prior year period to $11.90 million. Non-interest income for the quarter rose 3.24 percent over the last year period to $1.59 million.

Bankfinancial Corp has made negative provision of $0.49 million for loan losses during the quarter, compared with a positive provision of $0.16 million in the same period last year.

Net interest margin improved 13 basis points to 3.39 percent in the quarter from 3.26 percent in the last year period. Efficiency ratio for the quarter improved to 80.98 percent from 82.66 percent in the previous year period. A decline in efficiency ratio indicates a rise in profitability.

Deposits stood at $1,329.28 million as on Mar. 31, 2017, up 5.11 percent compared with $1,264.69 million on Mar. 31, 2016.

Investments stood at $110.23 million as on Mar. 31, 2017, down 1.04 percent or $1.16 million from year-ago. Shareholders equity was at $202.02 million as on Mar. 31, 2017.

Return on assets moved up 3 basis points to 0.50 percent in the quarter from 0.47 percent in the last year period. At the same time, return on equity decreased 7 basis points to 3.59 percent in the quarter from 3.66 percent in the last year period.

Nonperforming assets moved down 6.65 percent or $0.51 million to $7.19 million on Mar. 31, 2017 from $7.70 million on Mar. 31, 2016. Meanwhile, nonperforming assets to total assets was 0.44 percent in the quarter, down from 0.48 percent in the last year period.

Capital ratios improve
Bankfinancial Corp recorded an improvement in capital ratios during the quarter. Tier-1 leverage ratio stood at
11.92 percent for the quarter, up from 11.58 percent for the previous year quarter. Equity to assets ratio was 12.64 percent for the quarter, up from 12.60 percent for the previous year quarter. Book value per share was $10.65 for the quarter, down 2.83 percent or $0.31 compared to $10.96 for the same period last year. 
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