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. reports developments tied to its role as the parent company of Byline Bank, a full-service commercial bank serving small- and medium-sized businesses, financial sponsors, and consumers. Company news centers on quarterly earnings, net interest income, deposit costs, loan and lease trends, credit-loss provisioning, and fee revenue across its commercial and community banking activities.
Recurring updates also cover capital management actions such as dividends and stock repurchases, small-ticket equipment leasing, SBA lending, and Byline Bank's presence in the Chicago and Milwaukee metropolitan areas.
Byline Bancorp, Inc. (NYSE: BY) announced it will release its second quarter 2022 financial results on Thursday, July 28, 2022. Following this, a conference call and webcast are scheduled for 9:00 a.m. Central Time on Friday, July 29, 2022, allowing analysts and investors to engage in a Q&A session. Byline Bancorp is headquartered in Chicago and operates Byline Bank, which has assets of approximately $6.8 billion and serves small- and medium-sized businesses across the Chicago and Milwaukee areas.
Byline Bancorp reported net income of $22.3 million, or $0.58 per diluted share, for Q1 2022, an increase from $17.2 million in Q4 2021. Total revenue reached $78.2 million, with net interest income at $58.7 million, though it declined 4.8% from the previous quarter. The net interest margin was 3.81%. Non-interest income rose 2.2% to $19.4 million. The efficiency ratio improved to 54.96%. Additionally, the company redeemed all shares of its Series B Preferred Stock, totaling $10.6 million, and declared a cash dividend of $0.09 per share.
Byline Bancorp, Inc. (NYSE: BY) appointed Margarita Hugues Vélez to its Board of Directors and announced the retirement of Steven M. Rull effective at the upcoming Annual Meeting in June. Hugues Vélez brings significant experience in corporate law and innovation, expected to enhance the board's effectiveness during a transformational period for the banking industry. Rull, who served since 2016, is commended for his invaluable contributions to Byline. This leadership change may indicate a strategic shift as the company continues to adapt to industry changes.
Byline Bancorp (NYSE: BY) will release its Q1 2022 financial results after market close on April 28, 2022. A conference call with analysts and investors is scheduled for April 29, 2022, at 9:00 a.m. Central Time, to discuss these results. Participants can access the call by dialing 844-200-6205 with the passcode 864125. A replay will be available until May 13, 2022. Byline Bancorp operates over 40 branches and holds approximately $6.7 billion in assets, focusing on commercial and retail banking services.
Byline Bancorp reported a net income of $17.2 million, or $0.45 per diluted share, for Q4 2021, down from $25.3 million in Q3. Full-year net income was $92.8 million, representing $2.40 per diluted share. Total revenue for Q4 reached $80.7 million, with a net interest margin of 3.96%. The bank originated loans and leases increased by $425.9 million (11.6%) in 2021. Furthermore, Byline returned $40.3 million in capital to shareholders through dividends and repurchases. Plans include consolidating six branches in Q2 2022, with anticipated annualized cost savings of $5.3 million.
Byline Bancorp, Inc. (NYSE: BY) will announce its fourth quarter 2021 financial results post-market on January 27, 2022. A conference call is scheduled for January 28, 2022, at 9:00 a.m. CT, where management will discuss results and answer questions from analysts and investors. The call can be accessed via telephone or webcast, with replay options available through February 11, 2022. Byline Bancorp, headquartered in Chicago, operates over 40 branches and has approximately $6.7 billion in assets.
Byline Bancorp, Inc. (NYSE: BY) announced plans to optimize its branch network by consolidating six of its 44 branches and disposing of a portfolio of owned real estate to adapt to customer behavior changes. This strategy aims to improve operating efficiencies and is projected to incur a total charge of approximately $15.0 million but generate annualized cost savings of about $5.3 million. Byline Bank will continue serving its markets through remaining branches and digital channels, with around 70% of the savings reinvested into talent and technology.
Byline Bancorp reported strong third quarter 2021 results, with net income of $25.3 million ($0.66 per diluted share), reflecting a decrease from $28.5 million ($0.73 per share) in the prior quarter. Adjusted net income was $26.4 million ($0.69 per share). A significant increase in originated loans and leases of $189.5 million contributed to overall production of $410.3 million. The net interest margin improved to 3.91%, and non-interest-bearing deposits constituted 41.1% of total deposits. A cash dividend of $0.09 per share was also declared.
Byline Bancorp, Inc. (NYSE: BY) will release its third quarter 2021 financial results after the market closes on October 28, 2021. A conference call to discuss these results will take place on October 29, 2021, at 9:00 a.m. Central Time. Interested analysts and investors can join the call by dialing 844-200-6205 with the passcode 611698. A replay will be available through November 12, 2021. The company operates over 40 branches and holds approximately $6.5 billion in assets, serving small to medium businesses in the Chicago and Milwaukee areas.
Byline Bancorp reported a net income of $28.5 million, or $0.73 per diluted share for Q2 2021, compared to $21.8 million or $0.56 per share in Q1 2021. Adjusted net income was $29.9 million or $0.77 per adjusted diluted share. The company announced a 200% increase in its quarterly cash dividend to $0.09 per share and an expanded stock repurchase program of 1,250,000 shares. Total loans increased at a 16.3% annualized growth rate excluding PPP loans. Total assets decreased to $6.5 billion as of June 30, 2021.