BankFinancial converts to National Bank Charter

BURR RIDGE- BankFinancial Corp. announced its conversion to a Bank Holding Company registered with the Federal Reserve Board.

Its wholly-owned bank subsidiary will become BankFinancial, N.A. pursuant to its conversion to a National Bank charter.

"We are really excited about the National Bank charter," said Regional Commercial Banking Executive Vice President Kevin Cook. "Our team of commercial bankers in Chicago offers working capital lines of credit, equipment loans and real estate loans to small and mid-size businesses in the Chicago area. The National Bank charter now removes all of our previous limits on growth and we intend to take full advantage of our new capacity."

As of Sept. 30, the bank's commercial loans and lease portfolio was $411.6 million, reflecting total portfolio growth of 45 percent since Dec. 31, 2014. The Bank's commercial loan and lease portfolio comprised 26.7 percent of total assets.

The National Bank charter now permits the bank to continue the expansion of its commercial lending operations, including lending to small businesses.

"The Bank is now poised to be a leader in all of its commercial lending platforms. We look forward to working within our local communities and nationwide to deliver exactly what our individuals, families, and commercial loan and deposit customers need from a 21st Century financial institution" said CEO F. Morgan Gasior.