Welcome to our dedicated page for Byline Bancorp news (Ticker: BY), a resource for investors and traders seeking the latest updates and insights on Byline Bancorp stock.
Byline Bancorp, Inc. (symbol: BY) operates as the bank holding company for Byline Bank, which provides a diverse range of banking products and services primarily to small and medium-sized businesses, commercial real estate clients, financial sponsors, and consumers across the United States. The company, headquartered in Chicago, offers an array of deposit accounts including non-interest bearing accounts, money market demand accounts, savings accounts, interest-bearing checking accounts, and certificates of deposit.
Byline Bancorp also delivers a wide spectrum of commercial loan products. These include term loans, revolving lines of credit, construction financing, and small business administration loans. In addition, the company provides cash management products, small ticket equipment leasing services through its wholly-owned subsidiary, Byline Financial Group, as well as online, mobile, and direct banking services.
The company operates 56 branch offices situated in the Chicago metropolitan area and one branch office in Brookfield, Wisconsin. Formerly known as Metropolitan Bank Group, Inc., the company rebranded to Byline Bancorp, Inc. in 2015. Byline Bancorp, Inc. was initially incorporated in 1978.
Recent achievements include expanding its product offerings and strengthening its financial condition through strategic initiatives and partnerships. Byline Bancorp continues to innovate and adapt to the evolving financial landscape, ensuring its services remain competitive and relevant.
For more detailed updates on Byline Bancorp's latest news, financial performance, and ongoing projects, please refer to the latest news section below.
Byline Bancorp (NYSE: BY) reported strong Q2 2024 financial results, with net income of $29.7 million and diluted EPS of $0.68. Key highlights include:
- Net interest income increased 1.2% to $86.5 million
- Tax-equivalent net interest margin of 3.99%
- Non-interest expense decreased 1.1%
- Efficiency ratio of 52.19%
- Total loans and leases grew 6.1% annualized
- Total assets increased 9.5% annualized to $9.6 billion
- Non-performing assets decreased 24.0% to 0.67% of total assets
The company maintained a strong capital position and declared a cash dividend of $0.09 per share. Management expressed satisfaction with the overall performance and progress in becoming Chicago's preeminent commercial bank.
Byline Bancorp (NYSE: BY) will release its second quarter 2024 financial results after market close on July 25, 2024. The company will host a conference call and webcast on July 26, 2024, at 9:00 a.m. Central Time to discuss the results. Investors and analysts can participate in the Q&A session. The live webcast will be available on Byline Bancorp's Investor Relations webpage, and a replay will be accessible until August 9, 2024, using the provided phone number and passcode.
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