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BankFinancial Corporation (Nasdaq:BFIN) announced today that its Board of Directors has extended the expiration of the Company’s current share repurchase authorization from December 31, 2015 to December 31, 2016, and has increased the number of shares that can be repurchased in accordance with the authorization by 1,046,868 shares.
Pursuant to this extended and increased share repurchase authorization, there are 1,297,317 shares of common stock authorized for repurchase through December 31, 2016.
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 available working capital.
The authorization does not obligate the Company to purchase any particular number of shares at any given price per share at any time. The authorization may be suspended, terminated or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, 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, F.S.B., a full-service, community-oriented bank providing financial services to individuals, families and businesses through 19 full-service banking offices, located in Cook, DuPage, Lake and Will Counties, Illinois. At September 30, 2015, BankFinancial had total assets of $1.431 billion, total loans of $1.162 billion, total deposits of $1.182 billion and stockholders’ equity of $213 million. BankFinancial Corporation’s common stock trades on the Nasdaq Global Select Market under the symbol BFIN.
