BankFinancial in Olympia Fields, Ill., said it expects to record an $875,000 gain in the second quarter after selling three loans.
The $1.5 billion-asset company disclosed in a
BankFinancial said that, while the loans are well secured and are supported by adequate cash flow, it was in the company's long-term best interests to "exit the relationship … due to possible future events that could increase the risk of default." The filing also expressed concern that holding onto the loans could "result in significant legal expenses and an extended resolution period."
-
Some banks appear to be aggressively pursuing loan growth at the expense of profits these days. But banks like M&T and Westamerica say they are slowing things down, hoping the caution will translate into better credit quality in the long run.
April 20 -
Southern Banc in Gadsden, Ala., said it could report a loss for its fiscal year after recording a charge tied to a bad loan.
June 22 -
The market gyrations following the United Kingdom's vote to leave the European Union have an upside for mortgage lenders, as already-falling interest rates are expected to boost home purchases and refinancing.
June 24