Stephen Buckman's questions to BankFinancial (BFIN) leadership • Q4 2023
Question
Questioned the Board of Directors' role in overseeing the bank's long-term underperformance, citing missed earnings targets from 2022 and the fact that the stock price and book value are lower than at the time of conversion 18 years ago. He pressed for a public discussion on these issues and strategic alternatives.
Answer
The executive refused to address the questions in the public forum, stating that the earnings call was not the appropriate venue for such a discussion. He offered to speak offline but repeatedly deflected the analyst's attempts to discuss the bank's long-term performance and governance publicly, leading to a contentious exchange.