Byline Bancorp - BY STOCK NEWS

Byline Bancorp (NYSE: BY) has scheduled the release of its first quarter 2025 financial results after market close on Thursday, April 24, 2025. The company will host a conference call and webcast the following day, Friday, April 25, 2025, at 9:00 a.m. Central Time to discuss the results.

Investors and analysts can participate in the Q&A session through telephone access (833-470-1428; passcode: 400191) or via webcast on the company's Investor Relations website. A replay will be available through May 9, 2025 (866-813-9403; passcode: 172708), and the webcast recording will be archived on the company's website.

Byline Bancorp (NYSE: BY) has completed its merger with First Security Bancorp and its subsidiary First Security Trust and Savings Bank, effective April 1, 2025. The merger brings Byline's total assets to approximately $9.8 billion, based on December 31, 2024 data.

Under the merger terms, each First Security Bancorp common stock share was converted to 2.3539 shares of Byline common stock. The total merger consideration value at closing was approximately $41.5 million, with First Security Bancorp preferred shares redeemed in cash prior to closing at approximately $2.4 million.

Byline Bancorp (NYSE: BY) has received significant credit rating upgrades from Kroll Bond Rating Agency (KBRA). The agency upgraded Byline's senior unsecured debt rating to BBB+ from BBB, subordinated debt to BBB from BBB-, and short-term debt to K2 from K3. Byline Bank also saw improvements with deposit and senior unsecured debt ratings rising to A- from BBB+ and subordinated debt to BBB+ from BBB.

KBRA's decision is based on Byline's strong and resilient earnings capacity across various interest rate environments, demonstrating top quartile profitability within KBRA-rated institutions. The company's government lending team provides revenue support during declining rate environments, while management has proactively adjusted the balance sheet toward a more neutral position to prepare for potential Fed rate cuts.

The ratings reflect Byline's solid strategic execution, successful acquisition integration history, and strong management team. Notable is the approximately 30% insider ownership, which KBRA views as a credit strength. The company has also made proactive investments in infrastructure, risk systems, and talent in preparation for crossing the $10 billion asset threshold.

Byline Bancorp (NYSE: BY) reported strong Q4 2024 financial results with net income of $30.3 million and diluted EPS of $0.69. Full-year net income reached $120.8 million with $2.75 diluted EPS. Key Q4 highlights include net interest income of $88.5 million (up 1.2% from Q3), non-interest income of $16.1 million (up 12.3%), and a net interest margin of 4.01%.

The company's total assets reached $9.5 billion, marking a 6.9% increase year-over-year. The Board declared a cash dividend increase of 11.1% to $0.10 per share, payable February 18, 2025. Credit quality remained stable with the Allowance for Credit Losses (ACL) at $98.0 million and non-performing assets at 0.71% of total assets.

Byline Bancorp (NYSE: BY) has appointed Brian F. Doran as Executive Vice President, General Counsel. In his new role, Doran will lead the company's legal function and corporate governance initiatives while providing operational and strategic support to the organization and its Board of Directors.

Executive Chairman and CEO Roberto R. Herencia praised Doran's accomplishments and legal background, highlighting how his expertise will benefit Byline. President Alberto J. Paracchini expressed confidence in Doran's leadership abilities and contribution to Byline's strategy of becoming Chicago's preeminent commercial bank.

Byline Bancorp (NYSE: BY) has scheduled its fourth quarter 2024 financial results announcement for Thursday, January 23, 2025, after market close. The company will host a conference call and webcast on Friday, January 24, 2025, at 9:00 a.m. Central Time to discuss the results.

Investors and analysts can participate in the Q&A session through telephone access (833-470-1428; passcode: 861322) or via webcast on the company's Investor Relations website. A telephone replay will be available through February 7, 2025 (866-813-9403; passcode: 409178), and an archived version of the webcast will be accessible shortly after the live call ends.

Byline Bancorp (NYSE: BY) has announced a new stock repurchase program authorized by its Board of Directors. The program allows for the repurchase of up to 1.25 million shares, representing approximately 2.8% of the company's outstanding common stock. The program will be effective from January 1, 2025 to December 31, 2025.

The shares may be repurchased through open market purchases or private negotiations, including through Rule 10b5-1 plans, subject to market conditions and legal requirements. The company maintains discretion over the timing, number, and price of shares purchased, with no obligation to complete the program.

Byline Bank has achieved dual recognition as a top workplace for 2024, being named among Chicago's Best Workplaces by the Chicago Sun-Times and Best Workplaces in Illinois by the Illinois Society for Human Resource Management. The bank ranked in the top 25 workplaces in Chicago and secured 6th position among large companies.

The recognition process involved a comprehensive two-part evaluation: workplace policies and practices (25% of total evaluation) and employee experience surveys (75%). Dana Rose, Chief Human Resources Officer, emphasized the significance of employee feedback in securing these awards and highlighted the bank's commitment to fostering a collaborative workplace culture.

Byline Bancorp (NYSE: BY) reported Q3 2024 financial results with net income of $30.3 million, or $0.69 diluted earnings per share. Net interest income increased 1.1% to $87.5 million, while non-interest income grew 12.0% to $14.4 million. Total deposits increased by $150.7 million to $7.5 billion. The company maintained strong asset quality with an allowance for credit losses of $98.9 million. The efficiency ratio improved to 52.02%, and the company declared a quarterly cash dividend of $0.09 per share. Notable developments include a definitive merger agreement with First Security Bancorp and a tangible book value per share increase of 7.3% quarter-over-quarter.