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The Board of Directors of BankFinancial Corporation (the "Company") extended the expiration date of the Company's share repurchase authorization from April 28, 2023 to July 15, 2023, and increased the total number of shares currently authorized for repurchase under the Share Repurchase Program to 264,112 shares. As of January 26, 2023, a total of 139,112 shares remained authorized for purchase pursuant to the previous share repurchase authorization. Therefore, as of January 26, 2023, the total number of shares authorized for repurchase increased 125,000 shares to 264,112 shares. The share repurchase authorization remains in effect through July 15, 2023.
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 market 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 national bank providing banking, wealth management and fiduciary services to individuals, families and businesses in the Chicago metropolitan area and on a regional or national basis for commercial finance, equipment finance, commercial real estate finance and treasury management business customers. BankFinancial Corporation's common stock trades on the Nasdaq Global Select Market under the symbol "BFIN." Additional information may be found at the company's website, www.bankfinancial.com. At September 30, 2022, BankFinancial had total assets of $1.629 billion, total loans of $1.142 billion, total deposits of $1.425 billion and stockholders' equity of $151 million.
Posted In: BFIN
