Bankfinancial Corporation (BFIN) has reported 6.76 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $2.26 million, or $0.12 a share in the quarter, compared with $2.12 million, or $0.11 a share for the same period last year. Revenue during the quarter dropped 3.85 percent to $13.91 million from $14.47 million in the previous year period. Net interest income for the quarter dropped 0.67 percent over the prior year period to $11.60 million. Non-interest income for the quarter rose 1.14 percent over the last year period to $1.78 million.
Bankfinancial Corporation has made negative provision of $0.54 million for loan losses during the quarter, compared with a negative provision of $1.04 million in the same period last year.
Net interest margin contracted 32 basis points to 3.11 percent in the quarter from 3.43 percent in the last year period. Efficiency ratio for the quarter improved to 76.23 percent from 83.16 percent in the previous year period. A decline in efficiency ratio indicates a rise in profitability.
Liabilities outpace assets growthTotal assets stood at $1,620.04 million as on Dec. 31, 2016, up 7.11 percent compared with $1,512.44 million on Dec. 31, 2015. On the other hand, total liabilities stood at $1,415.26 million as on Dec. 31, 2016, up 8.86 percent from $1,300.08 million on Dec. 31, 2015. Loans outpace deposit growth
Net loans stood at $1,312.95 million as on Dec. 31, 2016, up 6.55 percent compared with $1,232.26 million on Dec. 31, 2015. Deposits stood at $1,339.39 million as on Dec. 31, 2016, up 10.43 percent compared with $1,212.92 million on Dec. 31, 2015. Investments stood at $107.21 million as on Dec. 31, 2016, down 6.57 percent or $7.54 million from year-ago. Shareholders equity stood at $204.78 million as on Dec. 31, 2016, down 3.57 percent or $7.58 million from year-ago.
Return on assets moved down 1 basis points to 0.57 percent in the quarter from 0.58 percent in the last year period. At the same time, return on equity increased 45 basis points to 4.41 percent in the quarter from 3.96 percent in the last year period.
Nonperforming assets moved down 32.05 percent or $3.39 million to $7.19 million on Dec. 31, 2016 from $10.58 million on Dec. 31, 2015. Meanwhile, nonperforming assets to total assets was 0.44 percent in the quarter, down from 0.70 percent in the last year period.
Capital ratios deteriorateBankfinancial Corporation witnessed a deterioration in capital ratios during in the quarter. Tier-1 leverage ratio stood at 11.92 percent for the quarter, down from 13.26 percent for the previous year quarter. Equity to assets ratio was 12.64 percent for the quarter, down from 14.04 percent for the previous year quarter. Book value per share was $10.65 for the quarter, up 1.82 percent or $0.19 compared to $10.46 for the same period last year.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
