BankFinancial expands leasing activity

Illinois-based BankFinancial Corporation has announced its conversion to a bank holding company registered with the Federal Reserve Board, in a bid to expand its leasing and loan activities.

The switch is effective at the close of operations on November 30, 2016. Concurrently, its wholly-owned bank subsidiary will become BankFinancial, National Association pursuant to its conversion to a national bank charter.

As of September 30, 2016, the bank’s commercial loans and lease portfolio was $411.6 million, reflecting total portfolio growth of 45% since December 31, 2014. The bank’s commercial loan and lease portfolio comprised 26.7% 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.

“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.”

“The national bank charter perfectly suits our nationwide focus on commercial equipment leasing, and finance, and will greatly enhance our ability to serve independent equipment lessors throughout the United States,” said William Deutsch, president of National Commercial Leasing. “The national bank charter also adds some important new capacity for innovative products that can significantly strengthen non-interest income and deposit relationships with our commercial equipment lessors.”

Added Brad Roiland, senior vice president of National Health Care: “The national bank charter will be extremely helpful in expanding our outreach to health care businesses, whether critical access hospitals, federally-qualified health centers, ambulatory surgical centers or home health providers. The ability to provide focused credit facilities and electronic depository services to eligible health care providers anywhere in the US is critical to success in this market.”