BankFinancial Corporation reported a net income of $2.1 million, or $0.17 per share, for the first quarter of 2025, reflecting an increase from $1.7 million, or $0.14 per share, in the same period last year. The company's total assets rose to $1.442 billion, a slight increase of $7.3 million from $1.435 billion at the end of 2024. This growth was primarily driven by a significant increase in cash and cash equivalents, which rose to $144.4 million from $84.8 million, while loans receivable decreased to $841.1 million from $887.6 million, largely due to scheduled repayments across various portfolios.
In terms of revenue, total interest income decreased to $16.3 million from $17.3 million year-over-year, primarily due to a decline in interest income from loans. Net interest income also fell to $11.5 million from $12.5 million, attributed to a decrease in average interest-earning assets and a slight decline in the yield on these assets. However, noninterest income increased to $1.6 million, up from $1.5 million, driven by higher deposit service charges and a gain on the repurchase of subordinated notes.
Operationally, BankFinancial's total deposits increased by $15.4 million to $1.233 billion, with notable growth in interest-bearing transaction accounts and certificates of deposit. The cost of total deposits decreased to 1.79% from 1.88%, indicating improved efficiency in deposit management. The company’s allowance for credit losses rose slightly to 0.86% of total loans, compared to 0.85% at the end of 2024, reflecting ongoing risk management efforts amid changing market conditions.
Looking ahead, BankFinancial aims to focus on expanding its commercial finance offerings while managing its loan portfolio strategically. The company plans to enhance its small business and commercial deposit portfolio, leveraging its strong liquidity and capital position. With a Tier 1 leverage ratio of 11.38%, the bank remains well-capitalized under regulatory standards, positioning itself to pursue growth opportunities while maintaining a balanced approach to risk management.
About BankFinancial CORP
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