BankFinancial Corporation announced its conversion to a Bank Holding Company registered with the Federal Reserve Board effective at the close of operations on November 30, 2016. Concurrently, its wholly-owned bank subsidiary will become BankFinancial, National Association (N.A.) pursuant to its conversion to a National Bank charter.
“We are really excited about the National Bank charter,” said Regional Commercial Banking Executive Vice President Kevin Cook. “Our team of commercial bankers in Chicago offers working capital lines of credit, equipment loans and real estate loans to small and mid-size businesses in the Chicago area. The National Bank charter now removes all of our previous limits on growth and we intend to take full advantage of our new capacity.”
“The National Bank charter perfectly suits our nationwide focus on commercial equipment leasing, and finance, and will greatly enhance our ability to serve independent equipment lessors throughout the United States,” said William Deutsch, President of National Commercial Leasing. “The National Bank charter also adds some important new capacity for innovative products that can significantly strengthen non-interest income and deposit relationships with our commercial equipment lessors.”
Added Brad Roiland, Sr. Vice President of National Health Care: “The National Bank charter will be extremely helpful in expanding our outreach to health care businesses, whether critical access hospitals, federally-qualified health centers, ambulatory surgical centers or home health providers. The ability to provide focused credit facilities and electronic depository services to eligible health care providers anywhere in the United States is critical to success in this market.”
“The Bank is now poised to be a leader in all of its commercial lending platforms. We look forward to working within our local communities and nationwide to deliver exactly what our individuals, families, and commercial loan and deposit customers need from a 21st Century financial institution” said F. Morgan Gasior, CEO of BankFinancial Corporation.
As of September 30, 2016, the Bank’s commercial loans and lease portfolio was $411.6 million, reflecting total portfolio growth of 45% since December 31, 2014. The Bank’s commercial loan and lease portfolio comprised 26.7% of total assets. The National Bank charter now permits the Bank to continue the expansion of its commercial lending operations, including lending to small businesses.