Latest news with #BankFinancial
Chicago Tribune
7 hours ago
- Business
- Chicago Tribune
BankFinancial and its 18 mostly suburban Chicago branches sold for $142 million to First Financial
Cincinnati-based First Financial has agreed to buy BankFinancial, a century-old Burr Ridge-based bank, in an all-stock deal valued at $142 million. BankFinancial, which opened its doors in 1924 as Oakley Federal Savings in Chicago, has 18 mostly suburban locations in Cook, Cook, DuPage, Lake and Will Counties. The merger, announced Monday, is expected to close in the fourth quarter, pending regulatory and shareholder approval. Once the acquisition is completed, all BankFinancial branches will move under the First Financial banner, marking the first foray into the competitive Chicago-area retail banking arena for the growing Ohio financial institution, which already has a commercial presence in the market. 'The addition of BankFinancial's retail financial centers enables us to continue our Midwest growth strategy and provides Chicago clients a broader range of banking and specialty solutions to help them meet their financial goals,' Archie Brown, president and chief executive officer of First Financial, said in a news release. As of June 30, BankFinancial had total assets of $1.4 billion and 190 full-time employees, according to the latest quarterly filing with the Securities and Exchange Commission. While the deal is expected to close by the end of the December, BankFinancial customers likely won't see the new name at their local branch for nearly a year. 'All BankFinancial branches will become First Financial locations once the transaction is closed,' Tim Condron, a First Financial spokesperson said in an email. 'While we have not determined an exact time for the transition to the First Financial brand, we anticipate that it will probably occur by summer of 2026.' Founded in 1863, First Financial has more than 130 banking centers in Ohio, Kentucky, Indiana and Illinois, and $18.6 billion in total assets as of June 30. First Financial has been growing recently through mergers, announcing the $325 million acquisition of Ohio-based Westfield Bank in June. That deal is also expected to close by year's end, pending regulatory approval. The addition of BankFinancial's retail footprint will complement First Financial's commercial presence in the Chicago market, which includes a commercial loan production office in Fulton Market, the Agile Premium Finance division in Lincolnshire and Bannockburn Capital Markets in downtown Chicago. First Financial also has retail and commercial banking locations in Northwest Indiana and downstate Kankakee. BankFinancial executives said the sale to the larger First Financial will benefit customers, even as the bank's first name eventually changes. 'First Financial is the ideal choice to help us continue our legacy of delivering exceptional financial solutions, while maintaining a strong commitment to customer care and service to our communities,' Morgan Gasior, chairman, president and chief executive officer of BankFinancial, said in the news release. While the deal was announced after the market closed Monday, BankFinancial's stock was up nearly 6% to $11.50 per share in after-hours trading. rchannick@
Business Wire
11 hours ago
- Business
- Business Wire
BFIN Stock Alert: Halper Sadeh LLC is Investigating Whether the Sale of BankFinancial Corporation is Fair to Shareholders
NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the sale of BankFinancial Corporation (NASDAQ: BFIN) to First Financial Bancorp for 0.48 of a share of First Financial common stock per share of BankFinancial is fair to BankFinancial shareholders. Halper Sadeh encourages BankFinancial shareholders to click here to learn more about their legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or sadeh@ or zhalper@ The investigation concerns whether BankFinancial and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible consideration for BankFinancial shareholders; (2) determine whether First Financial is underpaying for BankFinancial; and (3) disclose all material information necessary for BankFinancial shareholders to adequately assess and value the merger consideration. On behalf of BankFinancial shareholders, Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits. We would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses. Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors. Attorney Advertising. Prior results do not guarantee a similar outcome.
Business Wire
14 hours ago
- Business
- Business Wire
Shareholder Alert: The Ademi Firm investigates whether BankFinancial Corporation is obtaining a Fair Price for its Public Shareholders
MILWAUKEE--(BUSINESS WIRE)--The Ademi Firm is investigating BankFinancial (Nasdaq: BFIN) for possible breaches of fiduciary duty and other violations of law in its transaction with First Financial Bancorp. Click here to learn how to join our investigation and obtain additional information or contact us at gademi@ or toll-free: 866-264-3995. There is no cost or obligation to you. In the transaction, shareholders of BankFinancial will receive 0.48 shares of First Financial common stock in an all-stock transaction valued at approximately $142 million, based on First Financial's August 8 closing stock price. BankFinancial insiders will receive substantial benefits as part of change of control arrangements. The transaction agreement unreasonably limits competing transactions for BankFinancial by imposing a significant penalty if BankFinancial accepts a competing bid. We are investigating the conduct of the BankFinancial board of directors, and whether they are fulfilling their fiduciary duties to all shareholders. We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Globe and Mail
14 hours ago
- Business
- Globe and Mail
Shareholder Alert: The Ademi Firm investigates whether BankFinancial Corporation is obtaining a Fair Price for its Public Shareholders
The Ademi Firm is investigating BankFinancial (Nasdaq: BFIN) for possible breaches of fiduciary duty and other violations of law in its transaction with First Financial Bancorp . Click here to learn how to join our investigation and obtain additional information or contact us at gademi@ or toll-free: 866-264-3995. There is no cost or obligation to you. In the transaction, shareholders of BankFinancial will receive 0.48 shares of First Financial common stock in an all-stock transaction valued at approximately $142 million, based on First Financial's August 8 closing stock price. BankFinancial insiders will receive substantial benefits as part of change of control arrangements. The transaction agreement unreasonably limits competing transactions for BankFinancial by imposing a significant penalty if BankFinancial accepts a competing bid. We are investigating the conduct of the BankFinancial board of directors, and whether they are fulfilling their fiduciary duties to all shareholders. We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Yahoo
14-06-2025
- Business
- Yahoo
With 37% stake, BankFinancial Corporation (NASDAQ:BFIN) seems to have captured institutional investors' interest
Significantly high institutional ownership implies BankFinancial's stock price is sensitive to their trading actions A total of 9 investors have a majority stake in the company with 54% ownership Insider ownership in BankFinancial is 12% This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. A look at the shareholders of BankFinancial Corporation (NASDAQ:BFIN) can tell us which group is most powerful. We can see that institutions own the lion's share in the company with 37% ownership. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn). Because institutional owners have a huge pool of resources and liquidity, their investing decisions tend to carry a great deal of weight, especially with individual investors. As a result, a sizeable amount of institutional money invested in a firm is generally viewed as a positive attribute. Let's take a closer look to see what the different types of shareholders can tell us about BankFinancial. Check out our latest analysis for BankFinancial Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index. As you can see, institutional investors have a fair amount of stake in BankFinancial. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at BankFinancial's earnings history below. Of course, the future is what really matters. It looks like hedge funds own 19% of BankFinancial shares. That's interesting, because hedge funds can be quite active and activist. Many look for medium term catalysts that will drive the share price higher. The company's largest shareholder is M3F, Inc., with ownership of 8.4%. Meanwhile, the second and third largest shareholders, hold 7.7% and 6.8%, of the shares outstanding, respectively. Additionally, the company's CEO F. Gasior directly holds 2.7% of the total shares outstanding. We did some more digging and found that 9 of the top shareholders account for roughly 54% of the register, implying that along with larger shareholders, there are a few smaller shareholders, thereby balancing out each others interests somewhat. While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. There is some analyst coverage of the stock, but it could still become more well known, with time. The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances. Our information suggests that insiders maintain a significant holding in BankFinancial Corporation. Insiders have a US$17m stake in this US$145m business. It is great to see insiders so invested in the business. It might be worth checking if those insiders have been buying recently. The general public-- including retail investors -- own 26% stake in the company, and hence can't easily be ignored. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run. While it is well worth considering the different groups that own a company, there are other factors that are even more important. Consider for instance, the ever-present spectre of investment risk. We've identified 2 warning signs with BankFinancial , and understanding them should be part of your investment process. If you would prefer discover what analysts are predicting in terms of future growth, do not miss this free report on analyst forecasts. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
