BankFinancial(BFIN) - 2024 Q3 - Quarterly Results

Financial Performance - Return on assets for Q3 2024 is 0.56%, a decrease from 0.63% in Q3 2023[3] - Return on equity for Q3 2024 is 5.03%, down from 6.16% in Q3 2023[3] - Net interest margin (TEB) for Q3 2024 is 3.47%, compared to 3.57% in Q3 2023[3] - Net income for Q3 2024 was $1,993,000, a decrease of 6.6% from $2,134,000 in Q2 2024[4] - Basic and diluted earnings per common share for Q3 2024 were $0.16, compared to $0.17 in Q2 2024[11] Assets and Liabilities - Total assets decreased to $1,417,660,000 in Q3 2024 from $1,505,454,000 in Q3 2023[3] - Total liabilities decreased to $1,258,552,000 in Q3 2024 from $1,351,699,000 in Q3 2023[3] - Total stockholders' equity increased to $159,108,000 in Q3 2024 from $153,755,000 in Q3 2023[3] - Total deposits decreased to $1,199,412,000 in Q3 2024 from $1,275,828,000 in Q3 2023[3] Income and Expenses - Total interest income for Q3 2024 was $16,886,000, a decrease of 4.3% from $17,655,000 in Q2 2024[4] - Net interest income after provision for credit losses was $11,176,000, down from $12,698,000 in the previous quarter, reflecting a decrease of 11.9%[4] - Noninterest income increased to $1,482,000 in Q3 2024, up 16.1% from $1,276,000 in Q2 2024[4] - Total noninterest expense decreased to $10,084,000, a reduction of 9.4% compared to $11,135,000 in Q2 2024[4] Loans and Credit Quality - Loans, net decreased to $923,939,000 in Q3 2024 from $987,745,000 in Q2 2024, representing a decline of 6.4%[5] - Loan originations for one-to-four family residential real estate were $149,000 in Q3 2024, significantly lower than $268,000 in Q2 2024[5] - The allowance for credit losses stood at $(7,899,000) in Q3 2024, slightly improved from $(8,142,000) in Q2 2024[5] - Nonperforming assets increased to $24,297 thousand in IIIQ 2024 from $22,712 thousand in IIQ 2024, representing an increase of 6.95%[7] - The ratio of nonperforming assets to total assets rose to 1.71% in IIIQ 2024, compared to 1.54% in IIQ 2024[7] Capital and Dividends - The common Tier 1 (CET1) capital ratio improved to 18.53% in Q3 2024, up from 17.60% in Q2 2024[11] - The dividend payout ratio increased to 62.52% in Q3 2024, up from 58.39% in Q2 2024[11] - Cash dividends declared on common stock remained steady at $0.10 per share for Q3 2024[11] - Stock repurchases were not reported in Q3 2024, compared to $156,000 in Q1 2024[11] Operational Metrics - Number of full-service offices remains stable at 18 in Q3 2024[3] - Average interest-earning assets to average interest-bearing liabilities ratio is 133.26 in Q3 2024, slightly down from 136.78 in Q3 2023[3] - Average loans decreased to $964,827 in Q3 2024, down 4.48% from $1,010,123 in Q2 2024[10] - Average interest-bearing deposits rose to $977,529 in Q3 2024, compared to $997,132 in Q2 2024[10] - The total average interest-earning assets yield was 4.94% in Q3 2024, down from 5.07% in Q2 2024[10]