BankFinancial Corp., of Olympia Fields, Ill., plans to raise as much as $196 million in a full conversion to public ownership.
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The $1.5 billion-asset thrift company said it would issue at least 12.75 million shares, or as many as 19.84 million if demand warranted, at $10 a share.
The proceeds would be used for acquisitions and new branches, for recruitment and employee retention, and to improve capital management, the company said Thursday in a filing with the Securities and Exchange Commission.
Some of the money would go to repay a $30 million debt incurred for the November 2001 purchase of Success Bancshares. BankFinancial expects its stock to trade on the Nasdaq under the symbol BFIN.
