BFIN

BankFinancial Corporation (BFIN)

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Exchange: NASDAQ
Industry: Finance
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BankFinancial Corporation (BFIN)

Q1 2013 Earnings Call

May 10, 2013 10:30 am ET

Executives

F. Morgan Gasior – Chairman and Chief Executive Officer

Analysts

Brian Martin – FIG Partners LLC

Presentation

Operator

Good day ladies and gentlemen and welcome to the Q1 2013 BankFinancial Corp. Earnings Conference Call. My name is Clinton, and I will be your operator for today. At this time, all participants are in a listen-only mode. We will conduct a question-and-answer session towards the end of this conference. (Operator Instructions) As a reminder this call is being recorded for replay purposes.

I’d now like to turn the call over to Mr. F. Morgan Gasior, Chairman and CEO. Please proceed, sir.

F. Morgan Gasior

Good morning and welcome to our first quarter 2013 investor conference call. At this time I would like to read our forward-looking statements.

Unidentified Company Representative

The remarks made at this conference may include forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. We intend all forward-looking statements to be covered by the Safe Harbor provisions contained in the Private Securities Litigation Reform Act of 1995, and are including this statement for the purpose of invoking these safe harbor provisions.

Forward-looking statements involve significant risks and uncertainties and are based on assumptions that may or may not occur. These are often identifiable by the use of the words believe, expect, intend, anticipate, estimate, project, plan or similar expressions. Our ability to predict results or the actual effect of our plans and strategies is inherently uncertain and actual results may differ significantly from those predicted.

For further details on the risks and uncertainties that could impact our financial condition and results of operation, please consult the forward-looking statements declarations and the risk factors we have included in our reports to the SEC. These risks and uncertainties should be considered in evaluating forward-looking statements. We do not undertake any obligation to update any forward-looking statements in the future.

And now, I’ll turn the call over to Chairman and CEO, F. Morgan Gasior.

F. Morgan Gasior

Thanks, David. A couple of notes, first as you maybe able to tell from my voice, some of us are battling the spring cold. So I apologize in advance for coughing or sneezing or anything, like that. Glad everyone else is on the other side of the call. And then two, the only other thing I’d like to point out is, this quarter in our five quarter supplement, we added some additional data that I think underlines some of the things we’ve been saying for the last quarter or two.

We added some information on loan origination, loan payoff and loan payoff activity that involves a higher risk rated loans. For example, watch list loans rated five, Special Mention rated six or sub standards rated seven. and we did that just to kind of start to break out the loan origination trends that’s obviously one of the critical metrics that we’re all managing too, if critical to put the cash to work and rebuild the net interest margin and the best way for investors to see the grossed up of data rather than net data. So just for that – for those purposes, we’ve included that data. We’ll maintain them for the foreseeable future. But just wanted to call your attention to that data that’s out there that’s new for this period of time.

And with that, our order filings are complete and we’re happy to answer questions.

Question-and-Answer Session

Operator

Thank you. (Operator Instructions)

Unidentified Company Representative

It’s a quite day on the question line, I’m happy to provide a little more of an overview of the quarter and trends if that would be useful.

Operator

We do have an audio question it comes from the line of Brian Martin of FIG Partners. Please proceed.

Brian Martin – FIG Partners LLC

Hi, Morgan.

F. Morgan Gasior

Good morning.

Brian Martin – FIG Partners LLC

Morgan, can you talk just a little bit about the data you put in this quarter about the originations in the paydowns and maybe when you expect to see some let up in the paydowns and payoffs, just given, it looks like the originations have been reasonable here especially, maybe you can even talk a little bit about that as far as the originations when you look at the commercial piece, which seems to have interacting pretty nicely, just being a bit overshadowed, if you will, by some of the credit clean up, I guess, in just the payoffs and what not?

F. Morgan Gasior

Yeah, there is actually – and thanks for the question Brian. There is a couple of factors moving in there that I’d like to draw some attention to. Let’s start it top to bottom now. As you can see and as we’ve been discussing in the last couple of quarters, the loan origination activity is picking up and if I were to tell you kind of segment by segment, as we went through the business mining process beginning middle of last year and reconfigured products and pricing and everything else to deal with the environment we’re in. National Commercial Leasing really came out of the gate early and has had a couple of very good quarters. Usually, first quarter is one of our weakest quarters, everybody gets the right key budgets consumed in the third and fourth quarter and then they kind of take a breather and it picks up again later in the year. But the programs we rolled out to the market had a good stimulative effect. We’ve also added some good new lessees and strengthened the relationships with lessors.

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