Liquidity management appears defensive, as evidenced by the significant securities portfolio turnover in 2025Q3, which included $366.1 million in purchases against $363.2 million in sales.
| Metric | TTM | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 |
|---|
| Cash from Operations | 3.44M | 7.56M | 9.22M | 9.29M | 7.77M | 13.52M | 21.37M | 20.68M | 22.73M | 18.94M | 14.88M | 17.84M | 9.78M | 17.01M | 19.98M | 24.88M | 14.27M | 11.42M | 17.73M | 13.4M | 29.74M | 14.37M |
| Operating CF Growth % | -6422.16% | -17.97% | -0.76% | 19.62% | -42.53% | -36.76% | 3.33% | -9% | 20% | 27.27% | -16.6% | 82.48% | -42.52% | -14.85% | -19.69% | 74.39% | 24.95% | -35.62% | 32.36% | -54.95% | 106.91% | - |
| Net Income | 2.32M | 4.07M | 9.39M | 10.49M | 7.41M | 9.16M | 11.67M | 19.34M | 9M | 7.5M | 8.68M | 40.61M | 3.3M | -27.11M | -48.7M | -4.31M | -738K | -19.39M | 7.16M | 10.05M | 11.07M | 1.46M |
| Depreciation & Amortization | -10.11M | 163K | 1.54M | 1.26M | 2.07M | 1.79M | 1.76M | 1.81M | 4.39M | 4.41M | 4.37M | 4.53M | 5.23M | 5.5M | 6.51M | 6.51M | 6.01M | 5.71M | 5.81M | 5.77M | 6.83M | 9M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -438K | 2.46M | 633K | -395K |
| Other Non-Cash Items | 9.94M | 6.46M | 1.82M | 619K | -871K | 509K | 3.53M | -6.64M | 1.69M | -459K | -3.45M | -928K | -1.48M | 36.66M | 50.57M | 12.46M | 12.77M | 39.9M | 6.12M | 5.03M | 563K | 5.58M |
| Working Capital Changes | 1.29M | -3.13M | -3.53M | -3.08M | -843K | 2.05M | 4.41M | 6.17M | 7.64M | 5.05M | 3.39M | -27.6M | 1.75M | 1.2M | 11M | 7.1M | -6.33M | -18.93M | -921K | -9.91M | 10.61M | -1.26M |
| Cash from Investing | -92.36M | -46.14M | 197.92M | -316.77M | -101.13M | 199.07M | 184.18M | 8.06M | 14.4M | -77.02M | -53.61M | -87.46M | -91.31M | 192.73M | 10.95M | 122.58M | 59.18M | -97.9M | 82.95M | 132.46M | -121M | -49.36M |
| Purchase of Investments | -1.05B | -525.93M | -18.15M | -136.07M | -79.12M | -44.11M | -83.08M | -113.61M | -65.13M | -65.62M | -60.74M | -73.14M | -74.22M | -35.36M | -37.56M | -50.49M | 0 | -103.02M | -1.46B | -95.09M | -10.66B | -1.51M |
| Sale/Maturity of Investments | 157.82M | 327.82M | 73.41M | 3.91M | 22.01M | 80.45M | 114.72M | 122.23M | 78.85M | 72.88M | 66.79M | 62.95M | 40.3M | 50.26M | 74.47M | 31.84M | 25.56M | 26.55M | 1.5B | 321.67M | 10.7B | 55.29M |
| Net Investment Activity | -892.93M | -198.11M | 55.26M | -132.16M | -57.11M | 36.34M | 31.64M | 8.62M | 13.72M | 7.26M | 6.04M | -10.2M | -33.91M | 14.9M | 36.91M | -18.65M | 25.56M | -76.47M | 33.99M | 226.58M | 46.21M | 53.78M |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 61.62M | 0 | 0 | 0 | 0 | -13.37M | 0 | 0 |
| Other Investing | 801.32M | 154.06M | 144.54M | -182.66M | -41.68M | 164.74M | 153.34M | 1.05M | 1.82M | -83.59M | -59.12M | -76.09M | -57.39M | 180.17M | -85.21M | 142.31M | 36.72M | -18.42M | 51.08M | -79.6M | -164.91M | -100.83M |
| Cash from Financing | 33.39M | -55.08M | -95.43M | -127.91M | 92.03M | 100.58M | -113.43M | -58.13M | -6.23M | 95.39M | 38.53M | -31.76M | -33.27M | -54.69M | -131.03M | -34.85M | 5.42M | 86.87M | -139.08M | -116.54M | 100.01M | 35.65M |
| Dividends Paid | -4.99M | -4.99M | -5.06M | -5.23M | -5.62M | -5.98M | -6.27M | -6.45M | -5.15M | -4.13M | -4.14M | -1.69M | -844K | -633K | -4.64M | -5.95M | -6.01M | -6.13M | -6.48M | -4.45M | 0 | 0 |
| Share Repurchases | 0 | -156K | -2.39M | -4.87M | -17.12M | -4.61M | -18.14M | -23.28M | -10.82M | -13.21M | -9.97M | 0 | 0 | 0 | 0 | -3.12M | -2.49M | -7.74M | -33.96M | -17.29M | 0 | 0 |
| Stock Issued | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 220.68M | 0 |
| Net Stock Activity | 0 | -156K | -2.39M | -4.87M | -17.12M | -4.61M | -18.14M | -23.28M | -10.82M | -13.21M | -9.97M | 0 | 0 | 0 | 0 | -3.12M | -2.49M | -7.74M | -33.96M | -17.29M | 220.68M | 0 |
| Debt Issuance (Net) | -1000K | -1000K | 1000K | -1000K | 1000K | 1000K | -1000K | -1000K | 1000K | -1000K | 1000K | 1000K | -1000K | -1000K | -1000K | -1000K | -1000K | 1000K | -1000K | -1000K | -1000K | -1000K |
| Other Financing | 42.78M | -44.03M | -112.98M | -112.82M | 93.77M | 107.23M | -68.04M | 11.32M | 46K | 125.98M | 1.25M | -39.94M | -29.92M | -50.3M | -111.97M | 1.25M | 163.54M | -3.79M | -56.92M | -41.57M | -46.93M | 41.64M |
| Net Change in Cash | -55.54M | -93.66M | 111.71M | -435.39M | -1.33M | 313.17M | 92.12M | -29.39M | 30.91M | 37.31M | -204K | -101.38M | -114.81M | 155.06M | -100.11M | 112.61M | 78.87M | 381K | -38.39M | 29.31M | 8.73M | 668K |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 112.24M | 178.48M | 66.77M | 502.16M | 503.5M | 190.32M | 98.2M | 127.59M | 96.68M | 59.38M | 59.58M | 160.96M | 275.76M | 120.7M | 220.81M | 108.2M | 29.33M | 28.95M | 67.34M | 38.03M | 29.3M | 28.63M |
| Cash at End | 82.74M | 84.83M | 178.48M | 66.77M | 502.16M | 503.5M | 190.32M | 98.2M | 127.59M | 96.68M | 59.38M | 59.58M | 160.96M | 275.76M | 120.7M | 220.81M | 108.2M | 29.33M | 28.95M | 67.34M | 38.03M | 29.3M |
| Interest Paid | 14.95M | 20.13M | 14.08M | 4.47M | 2.71M | 7.04M | 13.45M | 9.07M | 6.04M | 3.91M | 2.84M | -3.07M | 0 | 0 | 6.85M | 13.57M | 20.77M | 25.9M | 0 | 0 | 0 | 0 |
| Income Taxes Paid | -1.69M | 1.97M | 3.29M | 3.52M | 3.42M | 191K | 349K | 342K | 427K | 289K | 363K | -114K | 0 | 0 | 3K | 1.3M | 1.5M | 3.58M | 0 | 0 | 0 | 0 |
| Free Cash Flow | 2.68M | 5.47M | 7.35M | 7.35M | 5.43M | 11.51M | 20.58M | 19.08M | 21.6M | 18.25M | 14.34M | 16.67M | 9.77M | 14.68M | 17.61M | 23.81M | 11.17M | 8.4M | 15.62M | 12.24M | 27.42M | 12.06M |
| FCF Growth % | -50.25% | -25.56% | -0.01% | 35.25% | -52.8% | -44.06% | 7.86% | -11.67% | 18.37% | 27.23% | -13.97% | 70.63% | -33.44% | -16.64% | -26.04% | 113.22% | 32.91% | -46.21% | 27.56% | -55.34% | 127.34% | - |
Chicago real estate concentration
As reported in recent financial statements, BankFinancial's net income volatility, including a net loss of $0.36 million in 2025Q2, suggests that the bank's ability to generate organic capital is currently constrained, limiting its capacity to fund future loan growth without potentially diluting existing shareholder equity positions.
The inconsistent net income generation indicates that the bank's internal capital formation is insufficient to support aggressive balance sheet expansion. Investors should monitor whether the current earnings trajectory necessitates a more conservative approach to capital allocation to maintain regulatory buffers.
Based on the company's reported figures, the bank has engaged in significant securities portfolio turnover, with 2025Q3 showing $366.1 million in purchases against $363.2 million in sales, suggesting a tactical effort to manage duration or liquidity in response to shifting interest rate expectations within the Chicago market.
This high level of activity in the investment portfolio may indicate that management is actively repositioning assets to mitigate interest rate risk. However, the lack of a clear net cash inflow from these activities warrants further investigation into whether these trades are enhancing yield or merely managing short-term liquidity needs.
According to quarterly filings, BankFinancial has maintained a consistent dividend payout of $1.2 million per quarter despite fluctuating net income, which suggests that the current capital return policy may be increasingly reliant on existing capital reserves rather than sustained, recurring earnings growth from core operations.
The cessation of share buybacks since 2024Q1 appears to reflect a prudent shift toward capital preservation in a challenging macro environment. Investors should monitor the dividend coverage ratio, as continued earnings volatility could eventually force a reassessment of this payout strategy to protect the bank's regulatory capital position.
As evidenced by the bank's reported financial data, the oscillation between provision expenses and releases, such as the $4.7 million charge in 2024Q4 and the subsequent $2.3 million charge in 2025Q2, highlights the sensitivity of cash flows to management's qualitative credit risk assessments.
These swings in provisioning suggest that the bank's credit quality remains highly susceptible to the performance of its concentrated commercial and multi-family real estate portfolio. The lack of stability in these charges may indicate ongoing uncertainty regarding the valuation of collateral within the Chicago metropolitan area.
Quick answers to the most common questions about buying BFIN stock.
BankFinancial Corporation (BFIN) generated $7.6M in net cash from operating activities in 2024. This reflects the cash generated directly from core business operations.
BankFinancial Corporation (BFIN) generated $5.5M in free cash flow in 2024. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
BankFinancial Corporation (BFIN) spent $2.1M on capital expenditures in 2024. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2024, BankFinancial Corporation (BFIN) returned $5.0M to shareholders via cash dividends and spent $0.2M on share repurchases. This shows the company's commitment to returning capital to its equity investors.