- BankFinancial press release (NASDAQ:BFIN): Q1 GAAP EPS of $0.14 misses by $0.02.
- At March 31, 2024, BankFinancial had total assets of $1.480 billion, total loans of $1.008 billion, total deposits of $1.259 billion and stockholders’ equity of $156 million.
- For the quarter ended March 31, 2024, cash and cash equivalent assets were 9% of total assets, compared to 12% of total assets at December 31, 2023.
- Outlook: For the second quarter of 2024, total loan balances are expected to increase by between 0% and 2% primarily due to higher loan originations activity. Based on the expected current yields on commercial credit originations and scheduled repayments, we expect the total yield on the loan portfolio to increase between 0.10% to 0.15%. For the second half of 2024, we believe that quarterly loan growth similar to the second quarter of 2024 is achievable in the current interest rate environment, with total yields on the loan portfolio continuing to increase between 0.10% to 0.15% per quarter due to higher yields on loan originations.
- For the second quarter of 2024, total deposit balances are expected to decline between 0% to 2% due to seasonal tax payments and continued consumption of liquidity, particularly by commercial depositors. We expect our cost of deposits to increase by 0.05% during the second quarter of 2024. For the second half of 2024, we expect that total deposits may further decline by 1% per quarter and our cost of funds to further increase by 0.05% per quarter due to continued reductions in liquidity for both retail and commercial depositors, partially offset by modestly increasing balances from new business, commercial and Treasury Services customers.
- For the second quarter of 2024, we expect cash and cash equivalent assets to be between 9% and 12% of total assets. For the second half of 2024, we expect cash and cash equivalent assets to be between 8% and 11% of total assets.
- For the second quarter of 2024, based on the expected activity in the loan, deposit and investment portfolios, we expect our net interest margin to remain stable, due to the anticipated timing of loan originations later in the quarter. For the second half of 2024, we expect our net interest margin to increase between 2% and 4% each quarter.
