Byline Bancorp, Inc. Reports Second Quarter 2026 Financial Results
Byline Bancorp, Inc. Reports Second Quarter 2026 Financial Results
Second quarter net income of $40.2 million, $0.90 diluted earnings per share
CHICAGO--(BUSINESS WIRE)--Byline Bancorp, Inc. (NYSE: BY), today reported:
Strong operating performance drove EPS growth of 8% linked quarter and 36% year-over-year, supported by stable balance sheet trends, consistent credit quality, and disciplined expense management. The Board also increased our quarterly dividend by 16.7%.
Share
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At or for the quarter |
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Second Quarter Highlights (compared to 1Q26 unless specified) |
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2Q26 |
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1Q26 |
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2Q25 |
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Financial Results ($ in thousands) |
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• Delivered strong quarterly results, reflecting |
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Net interest income (NII) |
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$ |
100,836 |
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$ |
99,863 |
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$ |
95,982 |
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record revenues and solid growth |
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Non-interest income |
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16,876 |
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12,538 |
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14,471 |
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Total revenue(1) |
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117,712 |
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112,401 |
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110,453 |
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• Adjusted EPS(1) of $0.91, up 9.6% LQ and 21.3% Y/Y |
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Non-interest expense (NIE) |
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56,479 |
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57,189 |
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59,602 |
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Pre-tax pre-provision net income (PTPP)(1) |
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61,233 |
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55,212 |
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50,851 |
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• ROAA of 1.63%; ROTCE(1) of 14.47% |
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Provision for credit losses |
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7,162 |
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5,537 |
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11,923 |
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Provision for income taxes |
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13,890 |
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12,096 |
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8,846 |
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• PTPP ROAA of 2.49%(1), 15th consecutive |
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Net income |
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$ |
40,181 |
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$ |
37,579 |
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$ |
30,082 |
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quarter greater than 2.00% |
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Per Share |
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• TBV per common share of $24.48(1), up 2.9% LQ |
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Diluted earnings per share (EPS) |
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$ |
0.90 |
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$ |
0.83 |
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$ |
0.66 |
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and 13.6% Y/Y |
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Dividends declared per common share |
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0.12 |
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0.12 |
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0.10 |
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Book value per common share |
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28.86 |
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28.17 |
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26.00 |
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Income Statement |
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Tangible book value per common share(1) |
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24.48 |
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23.79 |
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21.56 |
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• Net interest income of $100.8 million, up 1.0% |
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Balance Sheet & Credit Quality ($ in thousands) |
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• Non-interest income of $16.9 million, up 34.6%, |
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Total deposits |
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$ |
7,870,762 |
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$ |
7,801,816 |
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$ |
7,810,479 |
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including higher GOS volume and FV marks |
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Total loans and leases |
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7,563,929 |
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7,484,958 |
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7,353,869 |
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Net charge-offs |
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4,446 |
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5,950 |
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7,656 |
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• Non-interest expense of $56.5 million, down 1.2% |
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Allowance for credit losses (ACL) |
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111,861 |
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108,879 |
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107,727 |
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ACL to total loans and leases held for investment |
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1.48 |
% |
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1.46 |
% |
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1.47 |
% |
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• Adjusted efficiency ratio(1) improved 327 bps |
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to 46.51%, best as a public company |
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Select Ratios (annualized where applicable) |
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Efficiency ratio(1) |
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46.93 |
% |
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49.78 |
% |
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52.61 |
% |
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Balance Sheet |
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Return on average assets (ROAA) |
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1.63 |
% |
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1.56 |
% |
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1.25 |
% |
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• Total assets stood at $9.9 billion, up 0.2% |
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Return on average stockholders' equity |
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12.05 |
% |
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11.43 |
% |
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10.24 |
% |
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Return on average tangible common equity(1) |
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14.47 |
% |
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13.77 |
% |
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12.83 |
% |
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• Total deposits grew $68.9 million, or 3.5%(2) |
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Net interest margin (NIM) |
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4.28 |
% |
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4.33 |
% |
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4.18 |
% |
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Common equity to total assets |
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13.13 |
% |
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12.92 |
% |
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12.27 |
% |
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• Total loans and leases grew $79.0 million, or 4.2%(2) |
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Tangible common equity to tangible assets(1) |
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11.36 |
% |
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11.13 |
% |
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10.39 |
% |
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Common equity tier 1 |
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12.92 |
% |
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12.55 |
% |
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11.85 |
% |
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• Total payout ratio(3): 35.9% |
CEO/President Commentary |
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Roberto R. Herencia, Executive Chairman and CEO of Byline Bancorp, commented, "Our second quarter results reflect the strength of our franchise and disciplined execution, highlighted by strong operating fundamentals resulting in our Board's decision to increase our dividend by 16.7%. We remain confident in our ability to continue to build on our market position as we pursue our objective of becoming the preeminent commercial bank in Chicago. I want to thank our employees, who are fundamental to our success and the long-term value we create for our stockholders." |
| Alberto J. Paracchini, President of Byline Bancorp, added, "We are pleased with our excellent operating performance for the quarter and first half of the year, with EPS increasing by 8% linked quarter and 36% year-over-year, which reflects stable balance sheet trends, consistent credit quality, and disciplined expense management. Our business continued to perform well, and we enter the second half of 2026 with good momentum." |
(1) |
Represents non-GAAP financial measures. See “Reconciliation of non-GAAP Financial Measures” for a reconciliation to the most directly comparable GAAP financial measure. |
(2) |
Annualized. |
(3) |
Total payout ratio is inclusive of dividends and share repurchases. |
Board Declares Cash Dividend of $0.14 per Share
On July 21, 2026, the Company's Board of Directors declared a cash dividend of $0.14 per share, which represents a 16.7% increase from the previous quarterly dividend of $0.12 per share. The dividend will be paid on August 18, 2026, to stockholders of record of the Company's common stock as of August 4, 2026.
STATEMENTS OF OPERATIONS HIGHLIGHTS
Net Interest Income
Net interest income for the second quarter of 2026 was $100.8 million, an increase of $973,000, or 1.0%, from the first quarter of 2026. The increase in net interest income was primarily due to one additional calendar day, partially offset by higher interest expense related to increased funding costs.
Tax-equivalent net interest margin(1) for the second quarter of 2026 was 4.29%, a decrease of five basis points compared to the first quarter of 2026. The decrease primarily reflected modest compression in earning asset yields and higher funding costs. Net loan accretion income contributed 11 basis points to the net interest margin for the quarter.
The average cost of total deposits was 1.92% for the second quarter of 2026, a modest increase of one basis point compared to the first quarter of 2026.
Provision for Credit Losses
The provision for credit losses was $7.2 million for the second quarter of 2026, an increase of $1.6 million, or 29.3%, compared to $5.5 million for the first quarter of 2026, mainly due to additional allocation on individually assessed loans and growth in the loan and lease portfolio.
Non-interest Income
Non-interest income for the second quarter of 2026 was $16.9 million, an increase of $4.3 million, or 34.6%, compared to $12.5 million for the first quarter of 2026. The increase in total non-interest income was principally driven by four factors: a $1.9 million favorable change in the fair value of equity securities, a $736,000 improvement in the fair value adjustment on loan servicing assets, $627,000 in higher net gains on sales of loans, and higher other non-interest income, primarily reflecting gains on sales of leased assets and swap fee income.
Net gains on sales of loans totaled $6.1 million for the quarter, an increase of $627,000, or 11.5%, compared to the prior quarter. During the second quarter of 2026, we sold $78.1 million of U.S. government guaranteed loans compared to $71.8 million during the first quarter of 2026.
Non-interest Expense
Non-interest expense for the second quarter of 2026 was $56.5 million, a decrease of $710,000, or 1.2%, compared to $57.2 million for the first quarter of 2026. The decrease in non-interest expense was primarily driven by a $673,000 decline in net losses recognized on other real estate owned, a $589,000 decrease in salaries and employee benefits expense, and a $380,000 decrease in occupancy and equipment expense, partially offset by a $496,000 impairment charge related to a closed branch held for sale and higher other non-interest expense.
Our efficiency ratio was 46.93%(1), and our adjusted efficiency ratio was 46.51%(1), each compared to 49.78%(1) for the first quarter of 2026, an improvement of 285 basis points and 327 basis points, respectively. The improvement in the efficiency ratio was driven by increased revenue and lower non-interest expense.
Income Taxes
We recorded income tax expense of $13.9 million during the second quarter of 2026, compared to $12.1 million during the first quarter of 2026. The effective tax rates were 25.7% and 24.4% for the second quarter of 2026 and first quarter of 2026, respectively. This increase was primarily driven by income tax benefits related to share-based compensation recorded in the prior quarter.
STATEMENTS OF FINANCIAL CONDITION HIGHLIGHTS
Assets
Total assets were $9.9 billion as of June 30, 2026, an increase of $22.8 million, or 0.2%, compared to $9.9 billion at March 31, 2026. The increase was primarily driven by a $67.1 million increase to loans and leases held for investment, largely in originated commercial and industrial loans, partially offset by a decrease in securities available-for-sale of $39.4 million, mainly due to principal paydowns.
Allowance for Credit Losses
The ACL was $111.9 million as of June 30, 2026, an increase of $3.0 million, or 2.7%, from March 31, 2026, mainly due to an increased provision for credit losses on individually assessed loans and lower net charge-offs on loans and leases.
Net loan and lease charge-offs during the second quarter of 2026 were $4.4 million, or 0.24% of average loans and leases on an annualized basis, a decrease of $1.5 million and eight basis points, compared to the first quarter of 2026. The decrease was primarily driven by higher recoveries compared to the prior quarter and lower charge-offs on government guaranteed loans.
Asset Quality
Non-performing assets were $72.2 million, or 0.73% of total assets, as of June 30, 2026, an increase of $2.1 million from March 31, 2026. The increase was primarily due to increased non-accrual loans and leases. The government guaranteed portion of non-performing loans included in non-performing assets was $8.1 million at June 30, 2026, compared to $7.7 million at March 31, 2026, an increase of $399,000.
Deposits and Other Liabilities
Total deposits increased $68.9 million, or 0.9% to $7.9 billion at June 30, 2026 from $7.8 billion as of March 31, 2026. The increase was primarily driven by growth in interest-bearing deposits.
Total borrowings and other liabilities were $757.5 million at June 30, 2026, a decrease of $70.1 million from $827.6 million at March 31, 2026. The decrease for the quarter was primarily driven by lower FHLB advances.
Stockholders’ Equity
Total stockholders’ equity was $1.3 billion at June 30, 2026, an increase of $23.9 million, or 1.9%, from March 31, 2026, primarily due to net income of $40.2 million, partially offset by share repurchases, dividends declared, and an increase in accumulated other comprehensive loss related to available-for-sale securities. During the quarter ended June 30, 2026, we repurchased 274,528 shares of our common stock.
Conference Call, Webcast and Slide Presentation
We will host a conference call and webcast at 9:00 a.m. Central Time on Friday, July 24, 2026, to discuss our quarterly financial results. Analysts and investors may participate in the question-and-answer session. The call can be accessed via telephone at (833) 461-5787; Meeting ID: 439 867 942.
A slide presentation relating to our second quarter 2026 results will be accessible prior to the conference call. The slide presentation and webcast of the conference call can be accessed on our investor relations website at www.bylinebancorp.com.
About Byline Bancorp, Inc.
Headquartered in Chicago, Byline Bancorp, Inc. is the parent company of Byline Bank, a full service commercial bank serving small- and medium-sized businesses, financial sponsors, and consumers. Byline Bank has approximately $9.9 billion in assets and operates 44 branch locations throughout the Chicago and Milwaukee metropolitan areas. Byline Bank offers a broad range of commercial and community banking products and services including small ticket equipment leasing solutions and is one of the top Small Business Administration lenders in the United States.
Forward-Looking Statements
This communication contains forward-looking statements within the meaning of the U.S. federal securities laws. Forward-looking statements include, without limitation, statements concerning plans, estimates, calculations, forecasts and projections with respect to the anticipated future performance of the Company. These statements are often, but not always, made through the use of words or phrases such as ‘‘may’’, ‘‘might’’, ‘‘should’’, ‘‘could’’, ‘‘predict’’, ‘‘potential’’, ‘‘believe’’, ‘‘expect’’, ‘‘continue’’, ‘‘will’’, ‘‘anticipate’’, ‘‘seek’’, ‘‘estimate’’, ‘‘intend’’, ‘‘plan’’, ‘‘projection’’, ‘‘would’’, ‘‘annualized’’, “target” and ‘‘outlook’’, or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. Forward-looking statements involve estimates and known and unknown risks, and reflect various assumptions and involve elements of subjective judgment and analysis, which may or may not prove to be correct, and which are subject to uncertainties and contingencies outside the control of Byline and its respective affiliates, directors, employees and other representatives, which could cause actual results to differ materially from those presented in this communication.
No representations, warranties or guarantees are or will be made by Byline as to the reliability, accuracy or completeness of any forward-looking statements contained in this communication or that such forward-looking statements are or will remain based on reasonable assumptions. You should not place undue reliance on any forward-looking statements contained in this communication.
Certain risks and important factors that could affect Byline’s future results are identified in our Annual Report on Form 10-K and other reports we file with the Securities and Exchange Commission, including among other things under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025. Any forward-looking statement speaks only as of the date on which it is made, and Byline undertakes no obligation to update any forward-looking statement, whether to reflect events or circumstances after the date on which the statement is made, to reflect new information or the occurrence of unanticipated events, or otherwise unless required under the federal securities laws.
BYLINE BANCORP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (unaudited) |
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June 30, |
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March 31, |
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June 30, |
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(dollars in thousands) |
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2026 |
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2026 |
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2025 |
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ASSETS |
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Cash and due from banks |
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$ |
77,159 |
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$ |
62,341 |
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$ |
75,114 |
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Interest bearing deposits with other banks |
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116,400 |
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136,027 |
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143,258 |
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Cash and cash equivalents |
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193,559 |
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198,368 |
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218,372 |
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Equity and other securities, at fair value |
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7,476 |
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9,561 |
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10,759 |
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Securities available-for-sale, at fair value |
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1,616,748 |
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1,656,180 |
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1,575,240 |
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Restricted stock, at cost |
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18,777 |
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20,615 |
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18,649 |
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Loans held for sale |
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21,518 |
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9,686 |
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25,814 |
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Loans and leases: |
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Loans and leases |
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7,542,411 |
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7,475,272 |
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7,328,055 |
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Allowance for credit losses - loans and leases |
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(111,861 |
) |
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(108,879 |
) |
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(107,727 |
) |
Net loans and leases |
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7,430,550 |
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7,366,393 |
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7,220,328 |
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Servicing assets, at fair value |
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19,291 |
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18,942 |
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18,797 |
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Premises and equipment, net |
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55,981 |
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57,317 |
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59,544 |
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Other real estate owned, net |
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3,153 |
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2,890 |
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4,946 |
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Goodwill and other intangible assets, net |
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198,050 |
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199,285 |
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203,508 |
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Bank-owned life insurance |
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|
109,414 |
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108,481 |
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105,714 |
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Deferred tax assets, net |
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40,624 |
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45,525 |
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57,104 |
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Accrued interest receivable and other assets |
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217,324 |
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216,437 |
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|
201,443 |
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Total assets |
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$ |
9,932,465 |
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$ |
9,909,680 |
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$ |
9,720,218 |
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LIABILITIES AND STOCKHOLDERS’ EQUITY |
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LIABILITIES |
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Non-interest-bearing demand deposits |
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$ |
1,826,739 |
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$ |
1,818,981 |
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$ |
1,773,229 |
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Interest-bearing deposits |
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6,044,023 |
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5,982,835 |
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6,037,250 |
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Total deposits |
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7,870,762 |
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7,801,816 |
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7,810,479 |
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Other borrowings |
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460,449 |
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504,520 |
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|
414,110 |
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Subordinated notes, net |
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|
73,967 |
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|
73,938 |
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|
74,127 |
|
Junior subordinated debentures issued to capital trusts, net |
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|
71,814 |
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|
71,612 |
|
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|
71,136 |
|
Accrued expenses and other liabilities |
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|
151,258 |
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|
177,502 |
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|
157,950 |
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Total liabilities |
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8,628,250 |
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|
8,629,388 |
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|
8,527,802 |
|
STOCKHOLDERS’ EQUITY |
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Common stock |
|
|
471 |
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|
471 |
|
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|
471 |
|
Additional paid-in capital |
|
|
756,361 |
|
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|
754,582 |
|
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|
756,029 |
|
Retained earnings |
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|
712,588 |
|
|
|
677,854 |
|
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|
583,170 |
|
Treasury stock |
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|
(78,627 |
) |
|
|
(71,048 |
) |
|
|
(57,015 |
) |
Accumulated other comprehensive loss, net of tax |
|
|
(86,578 |
) |
|
|
(81,567 |
) |
|
|
(90,239 |
) |
Total stockholders’ equity |
|
|
1,304,215 |
|
|
|
1,280,292 |
|
|
|
1,192,416 |
|
Total liabilities and stockholders’ equity |
|
$ |
9,932,465 |
|
|
$ |
9,909,680 |
|
|
$ |
9,720,218 |
|
BYLINE BANCORP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) |
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Three Months Ended |
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(dollars in thousands, |
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June 30, |
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March 31, |
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June 30, |
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except per share data) |
|
2026 |
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2026 |
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|
2025 |
|
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INTEREST AND DIVIDEND INCOME |
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|
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|
|||
Interest and fees on loans and leases |
|
$ |
127,524 |
|
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$ |
125,950 |
|
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$ |
128,199 |
|
Interest on securities |
|
|
14,426 |
|
|
|
13,589 |
|
|
|
13,907 |
|
Other interest and dividend income |
|
|
2,356 |
|
|
|
2,117 |
|
|
|
2,433 |
|
Total interest and dividend income |
|
|
144,306 |
|
|
|
141,656 |
|
|
|
144,539 |
|
INTEREST EXPENSE |
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Deposits |
|
|
37,338 |
|
|
|
36,284 |
|
|
|
44,380 |
|
Other borrowings |
|
|
3,273 |
|
|
|
2,658 |
|
|
|
1,396 |
|
Subordinated notes and debentures |
|
|
2,859 |
|
|
|
2,851 |
|
|
|
2,781 |
|
Total interest expense |
|
|
43,470 |
|
|
|
41,793 |
|
|
|
48,557 |
|
Net interest income |
|
|
100,836 |
|
|
|
99,863 |
|
|
|
95,982 |
|
PROVISION FOR CREDIT LOSSES |
|
|
7,162 |
|
|
|
5,537 |
|
|
|
11,923 |
|
Net interest income after provision for credit losses |
|
|
93,674 |
|
|
|
94,326 |
|
|
|
84,059 |
|
NON-INTEREST INCOME |
|
|
|
|
|
|
|
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|
|||
Fees and service charges on deposits |
|
|
2,853 |
|
|
|
2,919 |
|
|
|
2,633 |
|
Loan servicing revenue |
|
|
3,047 |
|
|
|
3,041 |
|
|
|
3,071 |
|
Loan servicing asset revaluation |
|
|
(1,126 |
) |
|
|
(1,862 |
) |
|
|
(2,150 |
) |
ATM and interchange fees |
|
|
1,377 |
|
|
|
931 |
|
|
|
1,059 |
|
Net gains (losses) on sales of securities available-for-sale |
|
|
21 |
|
|
|
— |
|
|
|
(37 |
) |
Change in fair value of equity securities, net |
|
|
814 |
|
|
|
(1,099 |
) |
|
|
83 |
|
Net gains on sales of loans |
|
|
6,095 |
|
|
|
5,468 |
|
|
|
5,414 |
|
Wealth management and trust income |
|
|
1,270 |
|
|
|
1,262 |
|
|
|
1,074 |
|
Other non-interest income |
|
|
2,525 |
|
|
|
1,878 |
|
|
|
3,324 |
|
Total non-interest income |
|
|
16,876 |
|
|
|
12,538 |
|
|
|
14,471 |
|
NON-INTEREST EXPENSE |
|
|
|
|
|
|
|
|
|
|||
Salaries and employee benefits |
|
|
35,656 |
|
|
|
36,245 |
|
|
|
37,819 |
|
Occupancy and equipment expense, net |
|
|
4,065 |
|
|
|
4,445 |
|
|
|
4,739 |
|
Impairment charge on assets held for sale |
|
|
496 |
|
|
|
— |
|
|
|
— |
|
Loan and lease related expenses |
|
|
752 |
|
|
|
929 |
|
|
|
938 |
|
Legal, audit, and other professional fees |
|
|
3,231 |
|
|
|
3,244 |
|
|
|
4,843 |
|
Data processing |
|
|
4,866 |
|
|
|
4,925 |
|
|
|
4,986 |
|
Net loss (gain) recognized on other real estate owned
|
|
|
137 |
|
|
|
810 |
|
|
|
(44 |
) |
Other intangible assets amortization expense |
|
|
1,235 |
|
|
|
1,235 |
|
|
|
1,499 |
|
Other non-interest expense |
|
|
6,041 |
|
|
|
5,356 |
|
|
|
4,822 |
|
Total non-interest expense |
|
|
56,479 |
|
|
|
57,189 |
|
|
|
59,602 |
|
INCOME BEFORE PROVISION FOR INCOME TAXES |
|
|
54,071 |
|
|
|
49,675 |
|
|
|
38,928 |
|
PROVISION FOR INCOME TAXES |
|
|
13,890 |
|
|
|
12,096 |
|
|
|
8,846 |
|
NET INCOME |
|
$ |
40,181 |
|
|
$ |
37,579 |
|
|
$ |
30,082 |
|
EARNINGS PER COMMON SHARE |
|
|
|
|
|
|
|
|
|
|||
Basic |
|
$ |
0.90 |
|
|
$ |
0.84 |
|
|
$ |
0.66 |
|
Diluted |
|
$ |
0.90 |
|
|
$ |
0.83 |
|
|
$ |
0.66 |
|
BYLINE BANCORP, INC. AND SUBSIDIARIES SELECTED FINANCIAL DATA (unaudited) |
|||||||||||
|
As of or For the Three Months Ended |
|
|||||||||
(dollars in thousands, except share |
June 30, |
|
|
March 31, |
|
|
June 30, |
|
|||
and per share data) |
2026 |
|
|
2026 |
|
|
2025 |
|
|||
Earnings per Common Share |
|
|
|
|
|
|
|
|
|||
Basic earnings per common share |
$ |
0.90 |
|
|
$ |
0.84 |
|
|
$ |
0.66 |
|
Diluted earnings per common share |
$ |
0.90 |
|
|
$ |
0.83 |
|
|
$ |
0.66 |
|
Adjusted diluted earnings per common share(1)(3) |
$ |
0.91 |
|
|
$ |
0.83 |
|
|
$ |
0.75 |
|
Weighted average common shares outstanding (basic) |
|
44,596,967 |
|
|
|
44,739,433 |
|
|
|
45,306,240 |
|
Weighted average common shares outstanding (diluted) |
|
44,789,192 |
|
|
|
45,045,804 |
|
|
|
45,484,392 |
|
Common shares outstanding |
|
45,191,493 |
|
|
|
45,442,851 |
|
|
|
45,866,649 |
|
Cash dividends per common share |
$ |
0.12 |
|
|
$ |
0.12 |
|
|
$ |
0.10 |
|
Dividend payout ratio on common stock |
|
13.33 |
% |
|
|
14.46 |
% |
|
|
15.15 |
% |
Book value per common share |
$ |
28.86 |
|
|
$ |
28.17 |
|
|
$ |
26.00 |
|
Tangible book value per common share(1) |
$ |
24.48 |
|
|
$ |
23.79 |
|
|
$ |
21.56 |
|
Key Ratios and Performance Metrics
|
|
|
|
|
|
|
|
|
|||
Net interest margin |
|
4.28 |
% |
|
|
4.33 |
% |
|
|
4.18 |
% |
Net interest margin, fully taxable equivalent (1)(4) |
|
4.29 |
% |
|
|
4.34 |
% |
|
|
4.19 |
% |
Average cost of deposits |
|
1.92 |
% |
|
|
1.91 |
% |
|
|
2.27 |
% |
Efficiency ratio(1)(2) |
|
46.93 |
% |
|
|
49.78 |
% |
|
|
52.61 |
% |
Adjusted efficiency ratio(1)(2)(3) |
|
46.51 |
% |
|
|
49.78 |
% |
|
|
48.20 |
% |
Non-interest income to total revenues(1) |
|
14.34 |
% |
|
|
11.15 |
% |
|
|
13.10 |
% |
Non-interest expense to average assets |
|
2.29 |
% |
|
|
2.37 |
% |
|
|
2.48 |
% |
Adjusted non-interest expense to average assets(1)(3) |
|
2.27 |
% |
|
|
2.37 |
% |
|
|
2.28 |
% |
Return on average stockholders' equity |
|
12.05 |
% |
|
|
11.43 |
% |
|
|
10.24 |
% |
Adjusted return on average stockholders' equity(1)(3) |
|
12.16 |
% |
|
|
11.43 |
% |
|
|
11.51 |
% |
Return on average assets |
|
1.63 |
% |
|
|
1.56 |
% |
|
|
1.25 |
% |
Adjusted return on average assets(1)(3) |
|
1.65 |
% |
|
|
1.56 |
% |
|
|
1.41 |
% |
Pre-tax pre-provision return on average assets(1) |
|
2.49 |
% |
|
|
2.29 |
% |
|
|
2.12 |
% |
Adjusted pre-tax pre-provision return on average assets(1)(3) |
|
2.51 |
% |
|
|
2.29 |
% |
|
|
2.32 |
% |
Return on average tangible common stockholders' equity(1) |
|
14.47 |
% |
|
|
13.77 |
% |
|
|
12.83 |
% |
Adjusted return on average tangible common
|
|
14.60 |
% |
|
|
13.77 |
% |
|
|
14.37 |
% |
Non-interest-bearing deposits to total deposits |
|
23.21 |
% |
|
|
23.31 |
% |
|
|
22.70 |
% |
Loans and leases held for sale and loans and lease
|
|
96.10 |
% |
|
|
95.94 |
% |
|
|
94.15 |
% |
Deposits to total liabilities |
|
91.22 |
% |
|
|
90.41 |
% |
|
|
91.59 |
% |
Deposits per branch |
$ |
178,881 |
|
|
$ |
173,374 |
|
|
$ |
173,566 |
|
Asset Quality Ratios |
|
|
|
|
|
|
|
|
|||
Non-performing loans and leases to total loans and leases
|
|
0.92 |
% |
|
|
0.90 |
% |
|
|
0.92 |
% |
Total non-performing assets as a percentage
|
|
0.73 |
% |
|
|
0.71 |
% |
|
|
0.75 |
% |
ACL to total loans and leases held for investment, net before ACL |
|
1.48 |
% |
|
|
1.46 |
% |
|
|
1.47 |
% |
Net charge-offs to average total loans and leases held for
|
|
0.24 |
% |
|
|
0.32 |
% |
|
|
0.43 |
% |
Capital Ratios |
|
|
|
|
|
|
|
|
|||
Common equity to total assets |
|
13.13 |
% |
|
|
12.92 |
% |
|
|
12.27 |
% |
Tangible common equity to tangible assets(1) |
|
11.36 |
% |
|
|
11.13 |
% |
|
|
10.39 |
% |
Leverage ratio |
|
12.79 |
% |
|
|
12.62 |
% |
|
|
11.92 |
% |
Common equity tier 1 capital ratio |
|
12.92 |
% |
|
|
12.55 |
% |
|
|
11.85 |
% |
Tier 1 capital ratio |
|
13.88 |
% |
|
|
13.51 |
% |
|
|
12.83 |
% |
Total capital ratio |
|
15.96 |
% |
|
|
15.55 |
% |
|
|
14.87 |
% |
(1) Represents a non-GAAP financial measure. See “Reconciliation of non-GAAP Financial Measures” for a reconciliation of our non-GAAP measures to the most directly comparable GAAP financial measure. |
(2) Represents non-interest expense less amortization of intangible assets divided by net interest income and non-interest income. |
(3) Calculation excludes merger-related expenses, secondary public offering of common stock expenses, and impairment charges on assets held for sale. |
(4) Interest income and rates include the effects of a tax equivalent adjustment to adjust tax exempt investment income on tax exempt investment securities to a fully taxable basis, assuming a federal income tax rate of 21%. |
BYLINE BANCORP, INC. AND SUBSIDIARIES QUARTER-TO-DATE STATEMENT OF AVERAGE INTEREST-EARNING ASSETS AND AVERAGE INTEREST-BEARING LIABILITIES (unaudited) |
|||||||||||||||||||||||||||||||||||
|
For the Three Months Ended |
|
|||||||||||||||||||||||||||||||||
|
June 30, 2026 |
|
|
March 31, 2026 |
|
|
June 30, 2025 |
|
|||||||||||||||||||||||||||
(dollars in thousands) |
Average
|
|
|
Interest
|
|
|
Avg.
|
|
|
Average
|
|
|
Interest
|
|
|
Avg.
|
|
|
Average
|
|
|
Interest
|
|
|
Avg.
|
|
|||||||||
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Cash and cash equivalents |
$ |
145,381 |
|
|
$ |
1,132 |
|
|
|
3.12 |
% |
|
$ |
126,721 |
|
|
$ |
993 |
|
|
|
3.18 |
% |
|
$ |
183,162 |
|
|
$ |
1,667 |
|
|
|
3.64 |
% |
Loans and leases(1) |
|
7,472,818 |
|
|
|
127,524 |
|
|
|
6.84 |
% |
|
|
7,469,281 |
|
|
|
125,950 |
|
|
|
6.84 |
% |
|
|
7,220,834 |
|
|
|
128,199 |
|
|
|
7.12 |
% |
Taxable securities |
|
1,707,484 |
|
|
|
14,978 |
|
|
|
3.52 |
% |
|
|
1,616,019 |
|
|
|
13,978 |
|
|
|
3.51 |
% |
|
|
1,650,463 |
|
|
|
13,806 |
|
|
|
3.36 |
% |
Tax-exempt securities(2) |
|
131,354 |
|
|
|
850 |
|
|
|
2.60 |
% |
|
|
135,211 |
|
|
|
931 |
|
|
|
2.79 |
% |
|
|
154,719 |
|
|
|
1,098 |
|
|
|
2.85 |
% |
Total interest-earning assets |
$ |
9,457,037 |
|
|
$ |
144,484 |
|
|
|
6.13 |
% |
|
$ |
9,347,232 |
|
|
$ |
141,852 |
|
|
|
6.15 |
% |
|
$ |
9,209,178 |
|
|
$ |
144,770 |
|
|
|
6.31 |
% |
Allowance for credit losses -
|
|
(111,021 |
) |
|
|
|
|
|
|
|
|
(109,375 |
) |
|
|
|
|
|
|
|
|
(106,278 |
) |
|
|
|
|
|
|
||||||
All other assets |
|
536,969 |
|
|
|
|
|
|
|
|
|
559,975 |
|
|
|
|
|
|
|
|
|
530,917 |
|
|
|
|
|
|
|
||||||
TOTAL ASSETS |
$ |
9,882,985 |
|
|
|
|
|
|
|
|
$ |
9,797,832 |
|
|
|
|
|
|
|
|
$ |
9,633,817 |
|
|
|
|
|
|
|
||||||
LIABILITIES AND STOCKHOLDERS’
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Deposits |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Interest checking |
$ |
1,050,011 |
|
|
$ |
5,048 |
|
|
|
1.93 |
% |
|
$ |
908,602 |
|
|
$ |
3,776 |
|
|
|
1.69 |
% |
|
$ |
820,341 |
|
|
$ |
3,551 |
|
|
|
1.74 |
% |
Money market accounts |
|
2,854,519 |
|
|
|
18,585 |
|
|
|
2.61 |
% |
|
|
2,971,407 |
|
|
|
19,396 |
|
|
|
2.65 |
% |
|
|
2,905,465 |
|
|
|
22,749 |
|
|
|
3.14 |
% |
Savings |
|
490,500 |
|
|
|
130 |
|
|
|
0.11 |
% |
|
|
489,630 |
|
|
|
127 |
|
|
|
0.11 |
% |
|
|
506,874 |
|
|
|
139 |
|
|
|
0.11 |
% |
Time deposits |
|
1,624,667 |
|
|
|
13,575 |
|
|
|
3.35 |
% |
|
|
1,552,695 |
|
|
|
12,985 |
|
|
|
3.39 |
% |
|
|
1,810,909 |
|
|
|
17,941 |
|
|
|
3.97 |
% |
Total interest-bearing
|
|
6,019,697 |
|
|
|
37,338 |
|
|
|
2.49 |
% |
|
|
5,922,334 |
|
|
|
36,284 |
|
|
|
2.48 |
% |
|
|
6,043,589 |
|
|
|
44,380 |
|
|
|
2.95 |
% |
Other borrowings |
|
442,187 |
|
|
|
3,273 |
|
|
|
2.97 |
% |
|
|
427,551 |
|
|
|
2,642 |
|
|
|
2.51 |
% |
|
|
298,916 |
|
|
|
1,396 |
|
|
|
1.87 |
% |
Federal funds purchased |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,500 |
|
|
|
16 |
|
|
|
4.27 |
% |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Subordinated notes and
|
|
145,672 |
|
|
|
2,859 |
|
|
|
7.87 |
% |
|
|
145,432 |
|
|
|
2,851 |
|
|
|
7.95 |
% |
|
|
145,175 |
|
|
|
2,781 |
|
|
|
7.68 |
% |
Total borrowings |
|
587,859 |
|
|
|
6,132 |
|
|
|
4.18 |
% |
|
|
574,483 |
|
|
|
5,509 |
|
|
|
3.89 |
% |
|
|
444,091 |
|
|
|
4,177 |
|
|
|
3.77 |
% |
Total interest-bearing liabilities |
$ |
6,607,556 |
|
|
$ |
43,470 |
|
|
|
2.64 |
% |
|
$ |
6,496,817 |
|
|
$ |
41,793 |
|
|
|
2.61 |
% |
|
$ |
6,487,680 |
|
|
$ |
48,557 |
|
|
|
3.00 |
% |
Non-interest-bearing
|
|
1,792,439 |
|
|
|
|
|
|
|
|
|
1,791,132 |
|
|
|
|
|
|
|
|
|
1,802,639 |
|
|
|
|
|
|
|
||||||
Other liabilities |
|
145,406 |
|
|
|
|
|
|
|
|
|
176,460 |
|
|
|
|
|
|
|
|
|
164,944 |
|
|
|
|
|
|
|
||||||
Total stockholders’ equity |
|
1,337,584 |
|
|
|
|
|
|
|
|
|
1,333,423 |
|
|
|
|
|
|
|
|
|
1,178,554 |
|
|
|
|
|
|
|
||||||
TOTAL LIABILITIES AND
|
$ |
9,882,985 |
|
|
|
|
|
|
|
|
$ |
9,797,832 |
|
|
|
|
|
|
|
|
$ |
9,633,817 |
|
|
|
|
|
|
|
||||||
Net interest spread(3) |
|
|
|
|
|
|
|
3.49 |
% |
|
|
|
|
|
|
|
|
3.54 |
% |
|
|
|
|
|
|
|
|
3.31 |
% |
||||||
Net interest income, fully
|
|
|
|
$ |
101,014 |
|
|
|
|
|
|
|
|
$ |
100,059 |
|
|
|
|
|
|
|
|
$ |
96,213 |
|
|
|
|
||||||
Net interest margin, fully
|
|
|
|
|
|
|
|
4.29 |
% |
|
|
|
|
|
|
|
|
4.34 |
% |
|
|
|
|
|
|
|
|
4.19 |
% |
||||||
Less: Tax-equivalent adjustment |
|
|
|
|
178 |
|
|
|
0.01 |
% |
|
|
|
|
|
196 |
|
|
|
0.01 |
% |
|
|
|
|
|
231 |
|
|
|
0.01 |
% |
|||
Net interest income |
|
|
|
$ |
100,836 |
|
|
|
|
|
|
|
|
$ |
99,863 |
|
|
|
|
|
|
|
|
$ |
95,982 |
|
|
|
|
||||||
Net interest margin(4) |
|
|
|
|
|
|
|
4.28 |
% |
|
|
|
|
|
|
|
|
4.33 |
% |
|
|
|
|
|
|
|
|
4.18 |
% |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Net loan accretion impact
|
|
|
|
$ |
2,476 |
|
|
|
0.11 |
% |
|
|
|
|
$ |
1,971 |
|
|
|
0.09 |
% |
|
|
|
|
$ |
2,978 |
|
|
|
0.13 |
% |
|||
(1) Loan and lease balances are net of deferred origination fees and costs and initial direct costs. Non-accrual loans and leases are included in total loan and lease balances. |
(2) Interest income and rates include the effects of a tax equivalent adjustment to adjust tax exempt investment income on tax exempt investment securities to a fully taxable basis, assuming a federal income tax rate of 21%. |
(3) Represents the average rate earned on interest-earning assets minus the average rate paid on interest-bearing liabilities. |
(4) Represents net interest income (annualized) divided by total average earning assets. |
(5) Average balances are average daily balances. |
BYLINE BANCORP, INC. AND SUBSIDIARIES SELECTED BALANCE SHEET TABLES AND FINANCIAL RATIOS (unaudited) |
||||||||||||||||||||||||
The following table presents our allocation of originated, purchased credit deteriorated (PCD), and acquired non-credit-deteriorated loans and leases at the dates indicated: |
||||||||||||||||||||||||
|
|
June 30, 2026 |
|
|
March 31, 2026 |
|
|
June 30, 2025 |
|
|||||||||||||||
(dollars in thousands) |
|
Amount |
|
|
% of Total |
|
|
Amount |
|
|
% of Total |
|
|
Amount |
|
|
% of Total |
|
||||||
Originated loans and leases: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Commercial real estate |
|
$ |
2,303,785 |
|
|
|
30.5 |
% |
|
$ |
2,307,557 |
|
|
|
30.9 |
% |
|
$ |
2,184,187 |
|
|
|
29.8 |
% |
Residential real estate |
|
|
575,062 |
|
|
|
7.6 |
% |
|
|
576,932 |
|
|
|
7.7 |
% |
|
|
534,062 |
|
|
|
7.3 |
% |
Construction, land development, and
|
|
|
344,578 |
|
|
|
4.6 |
% |
|
|
342,099 |
|
|
|
4.6 |
% |
|
|
416,118 |
|
|
|
5.6 |
% |
Commercial and industrial |
|
|
3,120,209 |
|
|
|
41.3 |
% |
|
|
2,946,640 |
|
|
|
39.4 |
% |
|
|
2,737,054 |
|
|
|
37.4 |
% |
Installment and other |
|
|
4,817 |
|
|
|
0.1 |
% |
|
|
4,868 |
|
|
|
0.1 |
% |
|
|
2,984 |
|
|
|
0.0 |
% |
Leasing financing receivables |
|
|
721,090 |
|
|
|
9.6 |
% |
|
|
734,559 |
|
|
|
9.8 |
% |
|
|
731,610 |
|
|
|
10.0 |
% |
Total originated loans and leases |
|
$ |
7,069,541 |
|
|
|
93.7 |
% |
|
$ |
6,912,655 |
|
|
|
92.5 |
% |
|
$ |
6,606,015 |
|
|
|
90.1 |
% |
Purchased credit deteriorated loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Commercial real estate |
|
$ |
59,161 |
|
|
|
0.8 |
% |
|
$ |
66,801 |
|
|
|
0.9 |
% |
|
$ |
84,747 |
|
|
|
1.2 |
% |
Residential real estate |
|
|
18,941 |
|
|
|
0.2 |
% |
|
|
20,330 |
|
|
|
0.3 |
% |
|
|
27,076 |
|
|
|
0.4 |
% |
Construction, land development, and
|
|
|
2,674 |
|
|
|
0.0 |
% |
|
|
2,662 |
|
|
|
0.0 |
% |
|
|
2,487 |
|
|
|
0.0 |
% |
Commercial and industrial |
|
|
5,633 |
|
|
|
0.1 |
% |
|
|
10,780 |
|
|
|
0.1 |
% |
|
|
17,428 |
|
|
|
0.2 |
% |
Installment and other |
|
|
66 |
|
|
|
0.0 |
% |
|
|
72 |
|
|
|
0.0 |
% |
|
|
86 |
|
|
|
0.0 |
% |
Total purchased credit deteriorated loans |
|
$ |
86,475 |
|
|
|
1.1 |
% |
|
$ |
100,645 |
|
|
|
1.3 |
% |
|
$ |
131,824 |
|
|
|
1.8 |
% |
Acquired non-credit-deteriorated loans
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Commercial real estate |
|
$ |
152,230 |
|
|
|
2.0 |
% |
|
$ |
177,524 |
|
|
|
2.4 |
% |
|
$ |
224,442 |
|
|
|
3.1 |
% |
Residential real estate |
|
|
148,709 |
|
|
|
2.0 |
% |
|
|
155,623 |
|
|
|
2.1 |
% |
|
|
172,570 |
|
|
|
2.4 |
% |
Construction, land development, and
|
|
|
— |
|
|
|
— |
|
|
|
31,544 |
|
|
|
0.4 |
% |
|
|
61,897 |
|
|
|
0.8 |
% |
Commercial and industrial |
|
|
80,537 |
|
|
|
1.1 |
% |
|
|
91,192 |
|
|
|
1.2 |
% |
|
|
113,609 |
|
|
|
1.6 |
% |
Installment and other |
|
|
4,919 |
|
|
|
0.1 |
% |
|
|
6,089 |
|
|
|
0.1 |
% |
|
|
17,698 |
|
|
|
0.2 |
% |
Total acquired non-credit-deteriorated
|
|
$ |
386,395 |
|
|
|
5.2 |
% |
|
$ |
461,972 |
|
|
|
6.2 |
% |
|
$ |
590,216 |
|
|
|
8.1 |
% |
Total loans and leases |
|
$ |
7,542,411 |
|
|
|
100.0 |
% |
|
$ |
7,475,272 |
|
|
|
100.0 |
% |
|
$ |
7,328,055 |
|
|
|
100.0 |
% |
Allowance for credit losses - loans and leases |
|
|
(111,861 |
) |
|
|
|
|
|
(108,879 |
) |
|
|
|
|
|
(107,727 |
) |
|
|
|
|||
Total loans and leases, net of allowance for
|
|
$ |
7,430,550 |
|
|
|
|
|
$ |
7,366,393 |
|
|
|
|
|
$ |
7,220,328 |
|
|
|
|
|||
The following table presents the balance and activity within the allowance for credit losses - loans and lease for the periods indicated: |
||||||||||||
|
|
Three Months Ended |
|
|||||||||
|
|
June 30, |
|
|
March 31, |
|
|
June 30, |
|
|||
(dollars in thousands) |
|
2026 |
|
|
2026 |
|
|
2025 |
|
|||
ACL - loans and leases, beginning of period |
|
$ |
108,879 |
|
|
$ |
108,834 |
|
|
$ |
100,420 |
|
Adjustment for acquired PCD loans |
|
|
— |
|
|
|
— |
|
|
|
3,206 |
|
Provision for credit losses - loans and leases |
|
|
7,428 |
|
|
|
5,995 |
|
|
|
11,757 |
|
Net charge-offs - loans and leases |
|
|
(4,446 |
) |
|
|
(5,950 |
) |
|
|
(7,656 |
) |
ACL - loans and leases, end of period |
|
$ |
111,861 |
|
|
$ |
108,879 |
|
|
$ |
107,727 |
|
Net charge-offs - loans and leases
|
|
|
0.24 |
% |
|
|
0.32 |
% |
|
|
0.43 |
% |
Provision for credit losses - loans and leases
|
|
|
1.67 |
x |
|
|
1.01 |
x |
|
|
1.54 |
x |
BYLINE BANCORP, INC. AND SUBSIDIARIES SELECTED BALANCE SHEET TABLES AND FINANCIAL RATIOS (unaudited) |
||||||||||||||||||||
The following table presents the amounts of non-performing loans and leases, other real estate owned, and past due loans and leases 90 days or more and still accruing interest, at the date indicated: |
||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
June 30, 2026 |
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
Change from |
|
||||||||
(dollars in thousands) |
|
June 30, 2026 |
|
|
March 31, 2026 |
|
|
June 30, 2025 |
|
|
March 31, 2026 |
|
|
June 30, 2025 |
|
|||||
Non-performing assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Non-performing loans and leases |
|
$ |
69,087 |
|
|
$ |
67,275 |
|
|
$ |
67,552 |
|
|
|
2.7 |
% |
|
|
2.3 |
% |
Other real estate owned |
|
|
3,153 |
|
|
|
2,890 |
|
|
|
4,946 |
|
|
|
9.1 |
% |
|
|
(36.3 |
)% |
Total non-performing assets |
|
$ |
72,240 |
|
|
$ |
70,165 |
|
|
$ |
72,498 |
|
|
|
3.0 |
% |
|
|
(0.4 |
)% |
Total non-performing loans and leases as a
|
|
|
0.92 |
% |
|
|
0.90 |
% |
|
|
0.92 |
% |
|
|
|
|
|
|
||
Total non-performing assets as a percentage
|
|
|
0.73 |
% |
|
|
0.71 |
% |
|
|
0.75 |
% |
|
|
|
|
|
|
||
Allowance for credit losses - loans and lease
|
|
|
161.91 |
% |
|
|
161.84 |
% |
|
|
159.47 |
% |
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Non-performing assets guaranteed by
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Non-accrual loans guaranteed |
|
$ |
8,136 |
|
|
$ |
7,737 |
|
|
$ |
8,819 |
|
|
|
5.2 |
% |
|
|
(7.8 |
)% |
Total non-performing loans guaranteed |
|
$ |
8,136 |
|
|
$ |
7,737 |
|
|
$ |
8,819 |
|
|
|
5.2 |
% |
|
|
(7.8 |
)% |
Total non-performing loans and leases
|
|
|
0.81 |
% |
|
|
0.80 |
% |
|
|
0.80 |
% |
|
|
|
|
|
|
||
Total non-performing assets
|
|
|
0.65 |
% |
|
|
0.63 |
% |
|
|
0.66 |
% |
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Past due loans and leases 90 days or more
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Past due leases 90 days or more
|
|
$ |
1,114 |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
100.0 |
% |
|
|
100.0 |
% |
Total past due loans and leases 90 days or more
|
|
$ |
1,114 |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
100.0 |
% |
|
|
100.0 |
% |
Total past due loans and leases 90 days or more
|
|
|
0.01 |
% |
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
||
The following table presents the composition of deposits at the dates indicated: |
|||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
June 30, 2026 |
|
||||||||
|
|
|
|
|
|
|
|
|
|
Change from |
|
||||||||
(dollars in thousands) |
June 30, 2026 |
|
|
March 31, 2026 |
|
|
June 30, 2025 |
|
|
March 31, 2026 |
|
|
June 30, 2025 |
|
|||||
Non-interest-bearing demand deposits |
$ |
1,826,739 |
|
|
$ |
1,818,981 |
|
|
$ |
1,773,229 |
|
|
|
0.4 |
% |
|
|
3.0 |
% |
Interest-bearing checking accounts |
|
1,229,287 |
|
|
|
934,177 |
|
|
|
857,460 |
|
|
|
31.6 |
% |
|
|
43.4 |
% |
Money market demand accounts |
|
2,710,183 |
|
|
|
2,952,962 |
|
|
|
2,996,684 |
|
|
|
(8.2 |
)% |
|
|
(9.6 |
)% |
Other savings |
|
489,415 |
|
|
|
488,833 |
|
|
|
501,020 |
|
|
|
0.1 |
% |
|
|
(2.3 |
)% |
Time deposits (below $250,000) |
|
1,152,305 |
|
|
|
1,172,914 |
|
|
|
1,216,990 |
|
|
|
(1.8 |
)% |
|
|
(5.3 |
)% |
Time deposits ($250,000 and above) |
|
462,833 |
|
|
|
433,949 |
|
|
|
465,096 |
|
|
|
6.7 |
% |
|
|
(0.5 |
)% |
Total deposits |
$ |
7,870,762 |
|
|
$ |
7,801,816 |
|
|
$ |
7,810,479 |
|
|
|
0.9 |
% |
|
|
0.8 |
% |
BYLINE BANCORP, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (unaudited)
Non-GAAP Financial Measures
This release contains certain financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America (“GAAP”). These measures include adjusted net income, adjusted diluted earnings per share, adjusted non-interest expense, adjusted non-interest expense excluding amortization of intangible assets, adjusted efficiency ratio, adjusted non-interest expense to average assets, tax equivalent net interest income, tax-equivalent net interest margin, total revenue, non-interest income to total revenues, adjusted return on average stockholders’ equity, adjusted return on average assets, pre-tax pre-provision net income, adjusted pre-tax pre-provision net income, pre-tax pre-provision return on average assets, adjusted pre-tax pre-provision return on average assets, tangible common stockholders' equity, tangible assets, average tangible assets, tangible net income, adjusted tangible net income, tangible book value per common share, tangible common equity to tangible assets, return on average tangible common stockholders' equity, and adjusted return on average tangible common stockholders' equity. Management believes that these non-GAAP financial measures provide useful information to management and investors that is supplementary to the Company’s financial condition, results of operations and cash flows computed in accordance with GAAP; however, management acknowledges that our non-GAAP financial measures have a number of limitations. As such, these disclosures should not be viewed as a substitute for results determined in accordance with GAAP financial measures that we and other companies use. Management also uses these measures for peer comparison. See below in the financial schedules included in this press release for a reconciliation of the non-GAAP financial measures to the comparable GAAP financial measures. Additionally, please refer to the Company’s Annual Report on Form 10-K for the detailed definitions of these non-GAAP financial measures.
|
|
As of or For the Three Months Ended |
|
|||||||||
|
|
June 30, |
|
|
March 31, |
|
|
June 30, |
|
|||
(dollars in thousands, except per share data) |
|
2026 |
|
|
2026 |
|
|
2025 |
|
|||
Net income and earnings per share excluding significant items: |
|
|
|
|
|
|
|
|
|
|||
Reported Net Income |
|
$ |
40,181 |
|
|
$ |
37,579 |
|
|
$ |
30,082 |
|
Significant items: |
|
|
|
|
|
|
|
|
|
|||
Impairment charges on assets held for sale |
|
|
496 |
|
|
|
— |
|
|
|
— |
|
Merger-related expenses |
|
|
— |
|
|
|
— |
|
|
|
4,450 |
|
Secondary public offering of common stock expenses |
|
|
— |
|
|
|
— |
|
|
|
413 |
|
Tax benefit |
|
|
(130 |
) |
|
|
— |
|
|
|
(1,117 |
) |
Adjusted Net Income |
|
$ |
40,547 |
|
|
$ |
37,579 |
|
|
$ |
33,828 |
|
Reported Diluted Earnings per Share |
|
$ |
0.90 |
|
|
$ |
0.83 |
|
|
$ |
0.66 |
|
Significant items: |
|
|
|
|
|
|
|
|
|
|||
Impairment charges on assets held for sale |
|
|
0.01 |
|
|
|
— |
|
|
|
— |
|
Merger-related expenses |
|
|
— |
|
|
|
— |
|
|
|
0.10 |
|
Secondary public offering of common stock expenses |
|
|
— |
|
|
|
— |
|
|
|
0.01 |
|
Tax benefit |
|
|
— |
|
|
|
— |
|
|
|
(0.02 |
) |
Adjusted Diluted Earnings per Share |
|
$ |
0.91 |
|
|
$ |
0.83 |
|
|
$ |
0.75 |
|
BYLINE BANCORP, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (continued) (unaudited) |
||||||||||||
|
|
As of or For the Three Months Ended |
|
|||||||||
(dollars in thousands, except per share data, |
|
June 30, |
|
|
March 31, |
|
|
June 30, |
|
|||
ratios annualized, where applicable) |
|
2026 |
|
|
2026 |
|
|
2025 |
|
|||
Adjusted non-interest expense: |
|
|
|
|
|
|
|
|
|
|||
Non-interest expense |
|
$ |
56,479 |
|
|
$ |
57,189 |
|
|
$ |
59,602 |
|
Less: Impairment charges on assets held for sale |
|
|
496 |
|
|
|
— |
|
|
|
— |
|
Less: Merger-related expenses |
|
|
— |
|
|
|
— |
|
|
|
4,450 |
|
Less: Secondary public offering of common stock expenses |
|
|
— |
|
|
|
— |
|
|
|
413 |
|
Adjusted non-interest expense |
|
$ |
55,983 |
|
|
$ |
57,189 |
|
|
$ |
54,739 |
|
Adjusted non-interest expense excluding
|
|
|
|
|
|
|
|
|
|
|||
Adjusted non-interest expense |
|
$ |
55,983 |
|
|
$ |
57,189 |
|
|
$ |
54,739 |
|
Less: Amortization of intangible assets |
|
|
1,235 |
|
|
|
1,235 |
|
|
|
1,499 |
|
Adjusted non-interest expense excluding
|
|
$ |
54,748 |
|
|
$ |
55,954 |
|
|
$ |
53,240 |
|
Pre-tax pre-provision net income: |
|
|
|
|
|
|
|
|
|
|||
Pre-tax income |
|
$ |
54,071 |
|
|
$ |
49,675 |
|
|
$ |
38,928 |
|
Add: Provision for credit losses |
|
|
7,162 |
|
|
|
5,537 |
|
|
|
11,923 |
|
Pre-tax pre-provision net income |
|
$ |
61,233 |
|
|
$ |
55,212 |
|
|
$ |
50,851 |
|
Adjusted pre-tax pre-provision net income: |
|
|
|
|
|
|
|
|
|
|||
Pre-tax pre-provision net income |
|
$ |
61,233 |
|
|
$ |
55,212 |
|
|
$ |
50,851 |
|
Add: Impairment charges on assets held for sale |
|
|
496 |
|
|
|
— |
|
|
|
— |
|
Add: Merger-related expenses |
|
|
— |
|
|
|
— |
|
|
|
4,450 |
|
Add: Secondary public offering of common stock expenses |
|
|
— |
|
|
|
— |
|
|
|
413 |
|
Adjusted pre-tax pre-provision net income |
|
$ |
61,729 |
|
|
$ |
55,212 |
|
|
$ |
55,714 |
|
Tax equivalent net interest income: |
|
|
|
|
|
|
|
|
|
|||
Net interest income |
|
$ |
100,836 |
|
|
$ |
99,863 |
|
|
$ |
95,982 |
|
Add: Tax-equivalent adjustment |
|
|
178 |
|
|
|
196 |
|
|
|
231 |
|
Net interest income, fully taxable equivalent |
|
$ |
101,014 |
|
|
$ |
100,059 |
|
|
$ |
96,213 |
|
Total revenue: |
|
|
|
|
|
|
|
|
|
|||
Net interest income |
|
$ |
100,836 |
|
|
$ |
99,863 |
|
|
$ |
95,982 |
|
Add: Non-interest income |
|
|
16,876 |
|
|
|
12,538 |
|
|
|
14,471 |
|
Total revenue |
|
$ |
117,712 |
|
|
$ |
112,401 |
|
|
$ |
110,453 |
|
Tangible common stockholders' equity: |
|
|
|
|
|
|
|
|
|
|||
Total stockholders' equity |
|
$ |
1,304,215 |
|
|
$ |
1,280,292 |
|
|
$ |
1,192,416 |
|
Less: Goodwill and other intangibles |
|
|
198,050 |
|
|
|
199,285 |
|
|
|
203,508 |
|
Tangible common stockholders' equity |
|
$ |
1,106,165 |
|
|
$ |
1,081,007 |
|
|
$ |
988,908 |
|
Tangible assets: |
|
|
|
|
|
|
|
|
|
|||
Total assets |
|
$ |
9,932,465 |
|
|
$ |
9,909,680 |
|
|
$ |
9,720,218 |
|
Less: Goodwill and other intangibles |
|
|
198,050 |
|
|
|
199,285 |
|
|
|
203,508 |
|
Tangible assets |
|
$ |
9,734,415 |
|
|
$ |
9,710,395 |
|
|
$ |
9,516,710 |
|
Average tangible common stockholders' equity: |
|
|
|
|
|
|
|
|
|
|||
Average total stockholders' equity |
|
$ |
1,337,584 |
|
|
$ |
1,333,423 |
|
|
$ |
1,178,554 |
|
Less: Average goodwill and other intangibles |
|
|
198,629 |
|
|
|
199,943 |
|
|
|
203,767 |
|
Average tangible common stockholders' equity |
|
$ |
1,138,955 |
|
|
$ |
1,133,480 |
|
|
$ |
974,787 |
|
Average tangible assets: |
|
|
|
|
|
|
|
|
|
|||
Average total assets |
|
$ |
9,882,985 |
|
|
$ |
9,797,832 |
|
|
$ |
9,633,817 |
|
Less: Average goodwill and other intangibles |
|
|
198,629 |
|
|
|
199,943 |
|
|
|
203,767 |
|
Average tangible assets |
|
$ |
9,684,356 |
|
|
$ |
9,597,889 |
|
|
$ |
9,430,050 |
|
Tangible net income: |
|
|
|
|
|
|
|
|
|
|||
Net income |
|
$ |
40,181 |
|
|
$ |
37,579 |
|
|
$ |
30,082 |
|
Add: After-tax intangible asset amortization |
|
|
912 |
|
|
|
912 |
|
|
|
1,107 |
|
Tangible net income |
|
$ |
41,093 |
|
|
$ |
38,491 |
|
|
$ |
31,189 |
|
Adjusted tangible net income: |
|
|
|
|
|
|
|
|
|
|||
Tangible net income |
|
$ |
41,093 |
|
|
$ |
38,491 |
|
|
$ |
31,189 |
|
Add: Impairment charges on assets held for sale |
|
|
496 |
|
|
|
— |
|
|
|
— |
|
Add: Merger-related expenses |
|
|
— |
|
|
|
— |
|
|
|
4,450 |
|
Add: Secondary public offering of common stock expenses |
|
|
— |
|
|
|
— |
|
|
|
413 |
|
Add: Tax benefit on significant items |
|
|
(130 |
) |
|
|
— |
|
|
|
(1,117 |
) |
Adjusted tangible net income |
|
$ |
41,459 |
|
|
$ |
38,491 |
|
|
$ |
34,935 |
|
BYLINE BANCORP, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (continued) (unaudited) |
||||||||||||
|
|
As of or For the Three Months Ended |
|
|||||||||
(dollars in thousands, except share and per share |
|
June 30, |
|
|
March 31, |
|
|
June 30, |
|
|||
data, ratios annualized, where applicable) |
|
2026 |
|
|
2026 |
|
|
2025 |
|
|||
Pre-tax pre-provision return on average assets: |
|
|
|
|
|
|
|
|
|
|||
Pre-tax pre-provision net income |
|
$ |
61,233 |
|
|
$ |
55,212 |
|
|
$ |
50,851 |
|
Average total assets |
|
|
9,882,985 |
|
|
|
9,797,832 |
|
|
|
9,633,817 |
|
Pre-tax pre-provision return on average assets |
|
|
2.49 |
% |
|
|
2.29 |
% |
|
|
2.12 |
% |
Adjusted pre-tax pre-provision return on average assets: |
|
|
|
|
|
|
|
|
|
|||
Adjusted pre-tax pre-provision net income |
|
$ |
61,729 |
|
|
$ |
55,212 |
|
|
$ |
55,714 |
|
Average total assets |
|
|
9,882,985 |
|
|
|
9,797,832 |
|
|
|
9,633,817 |
|
Adjusted pre-tax pre-provision return on average assets |
|
|
2.51 |
% |
|
|
2.29 |
% |
|
|
2.32 |
% |
Net interest margin, fully taxable equivalent: |
|
|
|
|
|
|
|
|
|
|||
Net interest income, fully taxable equivalent |
|
$ |
101,014 |
|
|
$ |
100,059 |
|
|
$ |
96,213 |
|
Total average interest-earning assets |
|
|
9,457,037 |
|
|
|
9,347,232 |
|
|
|
9,209,178 |
|
Net interest margin, fully taxable equivalent |
|
|
4.29 |
% |
|
|
4.34 |
% |
|
|
4.19 |
% |
Non-interest income to total revenues: |
|
|
|
|
|
|
|
|
|
|||
Non-interest income |
|
$ |
16,876 |
|
|
$ |
12,538 |
|
|
$ |
14,471 |
|
Total revenues |
|
|
117,712 |
|
|
|
112,401 |
|
|
|
110,453 |
|
Non-interest income to total revenues |
|
|
14.34 |
% |
|
|
11.15 |
% |
|
|
13.10 |
% |
Adjusted non-interest expense to average assets: |
|
|
|
|
|
|
|
|
|
|||
Adjusted non-interest expense |
|
$ |
55,983 |
|
|
$ |
57,189 |
|
|
$ |
54,739 |
|
Average total assets |
|
|
9,882,985 |
|
|
|
9,797,832 |
|
|
|
9,633,817 |
|
Adjusted non-interest expense to average assets |
|
|
2.27 |
% |
|
|
2.37 |
% |
|
|
2.28 |
% |
Adjusted efficiency ratio: |
|
|
|
|
|
|
|
|
|
|||
Adjusted non-interest expense excluding amortization of
|
|
$ |
54,748 |
|
|
$ |
55,954 |
|
|
$ |
53,240 |
|
Total revenues |
|
|
117,712 |
|
|
|
112,401 |
|
|
|
110,453 |
|
Adjusted efficiency ratio |
|
|
46.51 |
% |
|
|
49.78 |
% |
|
|
48.20 |
% |
Adjusted return on average assets: |
|
|
|
|
|
|
|
|
|
|||
Adjusted net income |
|
$ |
40,547 |
|
|
$ |
37,579 |
|
|
$ |
33,828 |
|
Average total assets |
|
|
9,882,985 |
|
|
|
9,797,832 |
|
|
|
9,633,817 |
|
Adjusted return on average assets |
|
|
1.65 |
% |
|
|
1.56 |
% |
|
|
1.41 |
% |
Adjusted return on average stockholders' equity: |
|
|
|
|
|
|
|
|
|
|||
Adjusted net income |
|
$ |
40,547 |
|
|
$ |
37,579 |
|
|
$ |
33,828 |
|
Average stockholders' equity |
|
|
1,337,584 |
|
|
|
1,333,423 |
|
|
|
1,178,554 |
|
Adjusted return on average stockholders' equity |
|
|
12.16 |
% |
|
|
11.43 |
% |
|
|
11.51 |
% |
Tangible common equity to tangible assets: |
|
|
|
|
|
|
|
|
|
|||
Tangible common equity |
|
$ |
1,106,165 |
|
|
$ |
1,081,007 |
|
|
$ |
988,908 |
|
Tangible assets |
|
|
9,734,415 |
|
|
|
9,710,395 |
|
|
|
9,516,710 |
|
Tangible common equity to tangible assets |
|
|
11.36 |
% |
|
|
11.13 |
% |
|
|
10.39 |
% |
Return on average tangible common stockholders' equity: |
|
|
|
|
|
|
|
|
|
|||
Tangible net income |
|
$ |
41,093 |
|
|
$ |
38,491 |
|
|
$ |
31,189 |
|
Average tangible common stockholders' equity |
|
|
1,138,955 |
|
|
|
1,133,480 |
|
|
|
974,787 |
|
Return on average tangible common stockholders' equity |
|
|
14.47 |
% |
|
|
13.77 |
% |
|
|
12.83 |
% |
Adjusted return on average tangible common
|
|
|
|
|
|
|
|
|
|
|||
Adjusted tangible net income |
|
$ |
41,459 |
|
|
$ |
38,491 |
|
|
$ |
34,935 |
|
Average tangible common stockholders' equity |
|
|
1,138,955 |
|
|
|
1,133,480 |
|
|
|
974,787 |
|
Adjusted return on average tangible common
|
|
|
14.60 |
% |
|
|
13.77 |
% |
|
|
14.37 |
% |
Tangible book value per common share: |
|
|
|
|
|
|
|
|
|
|||
Tangible common equity |
|
$ |
1,106,165 |
|
|
$ |
1,081,007 |
|
|
$ |
988,908 |
|
Common shares outstanding |
|
|
45,191,493 |
|
|
|
45,442,851 |
|
|
|
45,866,649 |
|
Tangible book value per common share |
|
$ |
24.48 |
|
|
$ |
23.79 |
|
|
$ |
21.56 |
|
Contacts
Investors / Media:
Brooks O. Rennie
Investor Relations Director
(312) 660-5805
brennie@bylinebank.com
