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BankFinancial Corporation Reports Third Quarter 2008 Financial Results --- Results Include Previously Announced Freddie Mac Preferred Stock Impairment Charge That is Expected to Produce $10.1 Million Tax Benefit in Fourth Quarter
BURR RIDGE, Ill., Nov. 3, 2008 (GLOBE NEWSWIRE) -- BankFinancial Corporation (Nasdaq:BFIN) ("BankFinancial") reported a net loss of $25.1 million for the third quarter of 2008. The $25.1 million net loss for the third quarter includes a $24.8 million, pre-tax impairment loss and the establishment of a temporary valuation allowance for deferred income taxes on the preferred stocks of Freddie Mac, a government sponsored entity, that BankFinancial holds in its investment portfolio. Our loss per share of common stock for the three months ended September 30, 2008 was $1.27 and $1.26 per basic and fully diluted share, respectively, compared to earnings of $0.11 per share for the three-month period ending September 30, 2007.