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  4. [8-K] BYLINE BANCORP, INC. Reports Material Event

Byline Bancorp (NYSE: BY) lifts Q2 2026 profit to $40.2M on record revenue

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Byline Bancorp, Inc. reported strong second quarter 2026 results, with net income of $40.2 million and diluted EPS of $0.90. Adjusted EPS was $0.91, up 9.6% from the prior quarter and 21.3% year over year, as total revenue reached $117.7 million.

Net interest income was $100.8 million and non-interest income rose 34.6% to $16.9 million, while non-interest expense declined 1.2% to $56.5 million. The efficiency ratio improved to 46.93% and the adjusted efficiency ratio to 46.51%. Pre-tax pre-provision ROAA was 2.49%, ROAA 1.63%, and return on average tangible common equity 14.47%.

Total loans and leases were about $7.6 billion and deposits about $7.9 billion, with net charge-offs at 0.24% of average loans and leases and non-performing assets at 0.73% of total assets. Capital remained robust, including a common equity tier 1 ratio of 12.92% and tangible common equity to tangible assets of 11.36%. The board increased the quarterly dividend 16.7% to $0.14 per share and the company repurchased 274,528 shares, for a total payout ratio of 35.9%.

Positive

  • Earnings and EPS growth with record revenue Net income reached $40.2 million and diluted EPS $0.90, while adjusted EPS of $0.91 rose 9.6% linked quarter and 21.3% year over year on total revenue of $117.7 million.
  • Improved efficiency and strong profitability metrics The efficiency ratio fell to 46.93% and adjusted to 46.51%, with pre-tax pre-provision ROAA at 2.49%, ROAA at 1.63%, and return on average tangible common equity at 14.47%.
  • Solid balance sheet, capital and shareholder returns Loans and leases reached about $7.6 billion and deposits $7.9 billion; CET1 was 12.92%, TCE/TA 11.36%, tangible book value per share $24.48, and the dividend was raised 16.7% alongside 274,528 shares repurchased.

Negative

  • None.

Filing Explained

The July 23, 2026 Form 8-K furnishes the second-quarter results and confirms that the board declared a $0.14 common dividend on July 21, 2026; it will be paid on August 18, 2026 to holders of record on August 4, 2026, creating a scheduled cash distribution for existing common holders.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Net income $40.2 million For the quarter ended June 30, 2026
Diluted EPS $0.90 For the quarter ended June 30, 2026
Adjusted diluted EPS $0.91 Up 9.6% linked quarter and 21.3% year over year in Q2 2026
Total revenue $117.7 million Net interest income plus non-interest income in Q2 2026
Net interest margin 4.28% Reported net interest margin for Q2 2026
Total loans and leases $7.6 billion Outstanding at June 30, 2026
Total deposits $7.9 billion Outstanding at June 30, 2026
Common equity tier 1 ratio 12.92% Regulatory capital ratio at June 30, 2026
pre-tax pre-provision net income financial
"Pre-tax pre-provision net income (PTPP) (1) of $61.2 million"
A bank’s operating profit measured before income taxes and before setting aside reserves for loans that might not be repaid. It shows the lender’s core earning power from interest, fees and operating activity without the swings caused by tax items or extra money put aside for bad loans. Investors use it like a store’s sales-minus-running-costs figure to judge underlying performance and compare results across periods or peers.
tangible common equity to tangible assets financial
"Tangible common equity to tangible assets (1) of 11.36%"
Tangible common equity to tangible assets is a ratio that compares the amount of common shareholders’ capital after removing intangible items (like goodwill) to a company’s physical and financial assets after the same removal. It tells investors how much real, loss‑absorbing capital supports each dollar of tangible assets—think of it as the safety cushion under a car: the thicker the cushion, the more protection against unexpected losses.
net interest margin, fully taxable equivalent financial
"Net interest margin, fully taxable equivalent (1)(4) was 4.29%"
allowance for credit losses financial
"The ACL was $111.9 million as of June 30, 2026"
Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.
non-performing assets financial
"Non-performing assets were $72.2 million, or 0.73% of total assets"
Loans or other credit exposures that are not producing expected income because borrowers have stopped making scheduled payments for a significant period (commonly around 90 days). Think of it like a business lending money that has gone quiet — the cash flow stops while the lender still carries the debt on its books. High levels of non-performing assets matter to investors because they reduce a lender’s earnings, tie up capital that could be used for growth, and signal higher risk of future losses.
Offering Type earnings_snapshot

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FAQ

What were Byline Bancorp (BY)'s earnings and EPS for Q2 2026?
Byline Bancorp earned $40.2 million in net income for Q2 2026, with diluted EPS of $0.90. Adjusted diluted EPS was $0.91, up 9.6% from Q1 2026 and 21.3% from Q2 2025, reflecting higher revenue and improved efficiency.

How did Byline Bancorp (BY)'s revenue and margins perform in Q2 2026?
Total revenue was $117.7 million in Q2 2026, supported by net interest income of $100.8 million. The net interest margin was 4.28% (4.29% fully taxable equivalent), while the efficiency ratio improved to 46.93% and adjusted efficiency ratio to 46.51%.

What were Byline Bancorp (BY)'s key balance sheet figures at June 30, 2026?
At June 30, 2026, Byline reported $9.9 billion in total assets, about $7.6 billion in total loans and leases, and about $7.9 billion in total deposits. The loans-and-leases-to-deposits ratio was 96.10%, indicating a largely loan-deployed deposit base.

How strong were Byline Bancorp (BY)'s capital ratios and tangible book value in Q2 2026?
Capital remained strong, with a 12.92% common equity tier 1 ratio and 15.96% total capital ratio at June 30, 2026. Tangible common equity to tangible assets was 11.36%, and tangible book value per common share was $24.48, up 13.6% year over year.

What did Byline Bancorp (BY) report on credit quality in Q2 2026?
Credit metrics were stable, with net charge-offs at 0.24% of average loans and leases (annualized) and non-performing assets at 0.73% of total assets. The allowance for credit losses was $111.9 million, or 1.48% of total loans and leases held for investment.

What dividend and shareholder payouts did Byline Bancorp (BY) announce for Q2 2026?
The board declared a quarterly cash dividend of $0.14 per share, a 16.7% increase from $0.12. It will be paid on August 18, 2026 to stockholders of record on August 4, 2026. Including share repurchases, the total payout ratio was 35.9%.

How did Byline Bancorp (BY)'s non-interest income and expenses trend in Q2 2026?
Non-interest income was $16.9 million, up 34.6% from Q1 2026, driven by equity securities fair-value gains, loan sales, and servicing. Non-interest expense fell 1.2% to $56.5 million, helped by lower OREO losses, compensation, and occupancy costs despite a branch-impairment charge.
0001702750false00017027502026-07-232026-07-23

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): July 23, 2026

BYLINE BANCORP, INC.

(Exact Name of Registrant as Specified in Its Charter)

Delaware

(State or Other Jurisdiction

of Incorporation)

 

 

 

001-38139

36-3012593

(Commission

File Number)

(I.R.S. Employer

Identification No.)

 

 

180 North LaSalle Street, Suite 300

 

Chicago, Illinois

60601

(Address of Principal Executive Offices)

(Zip Code)

(773) 244-7000

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock

BY

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

Item 2.02.

 

Results of Operations and Financial Condition.

 

 

On July 23, 2026, Byline Bancorp, Inc., (“Byline" or the "Company”) issued a press release announcing its financial results for the second quarter ended June 30, 2026. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference.

 

On July 23, 2026, the Company made available on its website a slide presentation regarding the Company’s second quarter 2026 financial results, which will be used as part of a publicly accessible conference call on July 24, 2026. A copy of the slide presentation is attached as Exhibit 99.2 and is incorporated herein by reference.

The information included in Item 2.02 this Current Report on Form 8-K (including the information in the attached exhibits 99.1 and 99.2) is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in any such filing.

 

 

Item 9.01.

Financial Statements and Exhibits.

 

 

(d) Exhibits.

 

 

 

 

Exhibit

No.

 

Description

 

 

99.1

 

Second Quarter 2026 financial results press release, dated July 23, 2026

99.2

 

Slide Presentation regarding second quarter 2026 financial results

104

 

Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

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.

2

 

 

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

 

 

 

 

 

 

BYLINE BANCORP, INC.

 

 

 

 

Date: July 23, 2026

 

By:

/s/ Roberto R. Herencia

 

 

Name:

Roberto R. Herencia

 

 

Title:

Executive Chairman and Chief Executive Officer

 

3

Exhibit 99.1

img195841198_0.jpg

Byline Bancorp, Inc. Reports Second Quarter 2026 Financial Results

Second quarter net income of $40.2 million, $0.90 diluted earnings per share

Chicago, IL, July 23, 2026 – Byline Bancorp, Inc. (NYSE: BY), today reported:

 

 

 

 

At or for the quarter

 

Second Quarter Highlights

(compared to 1Q26 unless specified)

 

 

 

2Q26

 

1Q26

 

2Q25

 Financial Results ($ in thousands)

 

 

 

 

 

 

 

 

 

 

• Delivered strong quarterly results, reflecting

 

Net interest income (NII)

 

$

100,836

 

$

99,863

 

$

95,982

 

record revenues and solid growth

 

Non-interest income

 

 

16,876

 

 

12,538

 

 

14,471

 

 

Total revenue(1)

 

 

117,712

 

 

112,401

 

 

110,453

 

• Adjusted EPS(1) of $0.91, up 9.6% LQ and 21.3% Y/Y

 

Non-interest expense (NIE)

 

 

56,479

 

 

57,189

 

 

59,602

 

 

Pre-tax pre-provision net income (PTPP)(1)

 

 

61,233

 

 

55,212

 

 

50,851

 

• ROAA of 1.63%; ROTCE(1) of 14.47%

 

Provision for credit losses

 

 

7,162

 

 

5,537

 

 

11,923

 

 

 

Provision for income taxes

 

 

13,890

 

 

12,096

 

 

8,846

 

• PTPP ROAA of 2.49%(1), 15th consecutive

 

Net income

 

$

40,181

 

$

37,579

 

$

30,082

 

quarter greater than 2.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 Per Share

 

 

 

 

 

 

 

 

 

 

• TBV per common share of $24.48(1), up 2.9% LQ

 

Diluted earnings per share (EPS)

 

$

0.90

 

$

0.83

 

$

0.66

 

and 13.6% Y/Y

 

Dividends declared per common share

 

 

0.12

 

 

0.12

 

 

0.10

 

 

 

Book value per common share

 

 

28.86

 

 

28.17

 

 

26.00

 

Income Statement

 

Tangible book value per common share(1)

 

 

24.48

 

 

23.79

 

 

21.56

 

• Net interest income of $100.8 million, up 1.0%

 

 

 

 

 

 

 

 

 

 

 

 

 

 Balance Sheet & Credit Quality ($ in thousands)

 

 

 

 

 

 

 

 

 

 

• Non-interest income of $16.9 million, up 34.6%,

 

Total deposits

 

$

7,870,762

 

$

7,801,816

 

$

7,810,479

 

including higher GOS volume and FV marks

 

Total loans and leases

 

 

7,563,929

 

 

7,484,958

 

 

7,353,869

 

 

 

Net charge-offs

 

 

4,446

 

 

5,950

 

 

7,656

 

• Non-interest expense of $56.5 million, down 1.2%

 

Allowance for credit losses (ACL)

 

 

111,861

 

 

108,879

 

 

107,727

 

 

 

ACL to total loans and leases held for investment

 

 

1.48%

 

 

1.46%

 

 

1.47%

 

• Adjusted efficiency ratio(1) improved 327 bps

 

 

 

 

 

 

 

 

 

 

 

 

to 46.51%, best as a public company

 Select Ratios (annualized where applicable)

 

 

 

 

 

 

 

 

 

 

 

 

Efficiency ratio(1)

 

 

46.93%

 

 

49.78%

 

 

52.61%

 

Balance Sheet

 

Return on average assets (ROAA)

 

 

1.63%

 

 

1.56%

 

 

1.25%

 

• Total assets stood at $9.9 billion, up 0.2%

 

Return on average stockholders' equity

 

 

12.05%

 

 

11.43%

 

 

10.24%

 

 

 

Return on average tangible common equity(1)

 

 

14.47%

 

 

13.77%

 

 

12.83%

 

• Total deposits grew $68.9 million, or 3.5%(2)

 

Net interest margin (NIM)

 

 

4.28%

 

 

4.33%

 

 

4.18%

 

 

 

Common equity to total assets

 

 

13.13%

 

 

12.92%

 

 

12.27%

 

• Total loans and leases grew $79.0 million, or 4.2%(2)

 

Tangible common equity to tangible assets(1)

 

 

11.36%

 

 

11.13%

 

 

10.39%

 

 

 

Common equity tier 1

 

 

12.92%

 

 

12.55%

 

 

11.85%

 

• Total payout ratio(3): 35.9%

 

CEO/President Commentary

 

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.

 

 

Byline Bancorp, Inc.

Page 2 of 13

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.

 

 

(1) Represents non-GAAP financial measures. See “Reconciliation of non-GAAP Financial Measures” for a reconciliation of our non-GAAP measures to the most directly comparable GAAP financial measure.

Byline Bancorp, Inc.

Page 3 of 13

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.

(1) Represents non-GAAP financial measures. See “Reconciliation of non-GAAP Financial Measures” for a reconciliation of our non-GAAP measures to the most directly comparable GAAP financial measure.

Byline Bancorp, Inc.

Page 4 of 13

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.

Contact For Byline Bancorp, Inc.:

Investors / Media:

Brooks O. Rennie

Investor Relations Director

(312) 660-5805

brennie@bylinebank.com

 

 

 

Byline Bancorp, Inc.

Page 5 of 13

BYLINE BANCORP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

June 30,

 

 

March 31,

 

 

June 30,

 

(dollars in thousands)

 

2026

 

 

2026

 

 

2025

 

ASSETS

 

 

 

 

 

 

 

 

 

Cash and due from banks

 

$

77,159

 

 

$

62,341

 

 

$

75,114

 

Interest bearing deposits with other banks

 

 

116,400

 

 

 

136,027

 

 

 

143,258

 

Cash and cash equivalents

 

 

193,559

 

 

 

198,368

 

 

 

218,372

 

Equity and other securities, at fair value

 

 

7,476

 

 

 

9,561

 

 

 

10,759

 

Securities available-for-sale, at fair value

 

 

1,616,748

 

 

 

1,656,180

 

 

 

1,575,240

 

Restricted stock, at cost

 

 

18,777

 

 

 

20,615

 

 

 

18,649

 

Loans held for sale

 

 

21,518

 

 

 

9,686

 

 

 

25,814

 

Loans and leases:

 

 

 

 

 

 

 

 

 

Loans and leases

 

 

7,542,411

 

 

 

7,475,272

 

 

 

7,328,055

 

Allowance for credit losses - loans and leases

 

 

(111,861

)

 

 

(108,879

)

 

 

(107,727

)

Net loans and leases

 

 

7,430,550

 

 

 

7,366,393

 

 

 

7,220,328

 

Servicing assets, at fair value

 

 

19,291

 

 

 

18,942

 

 

 

18,797

 

Premises and equipment, net

 

 

55,981

 

 

 

57,317

 

 

 

59,544

 

Other real estate owned, net

 

 

3,153

 

 

 

2,890

 

 

 

4,946

 

Goodwill and other intangible assets, net

 

 

198,050

 

 

 

199,285

 

 

 

203,508

 

Bank-owned life insurance

 

 

109,414

 

 

 

108,481

 

 

 

105,714

 

Deferred tax assets, net

 

 

40,624

 

 

 

45,525

 

 

 

57,104

 

Accrued interest receivable and other assets

 

 

217,324

 

 

 

216,437

 

 

 

201,443

 

Total assets

 

$

9,932,465

 

 

$

9,909,680

 

 

$

9,720,218

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

 

LIABILITIES

 

 

 

 

 

 

 

 

 

Non-interest-bearing demand deposits

 

$

1,826,739

 

 

$

1,818,981

 

 

$

1,773,229

 

Interest-bearing deposits

 

 

6,044,023

 

 

 

5,982,835

 

 

 

6,037,250

 

Total deposits

 

 

7,870,762

 

 

 

7,801,816

 

 

 

7,810,479

 

Other borrowings

 

 

460,449

 

 

 

504,520

 

 

 

414,110

 

Subordinated notes, net

 

 

73,967

 

 

 

73,938

 

 

 

74,127

 

Junior subordinated debentures issued to capital trusts, net

 

 

71,814

 

 

 

71,612

 

 

 

71,136

 

Accrued expenses and other liabilities

 

 

151,258

 

 

 

177,502

 

 

 

157,950

 

Total liabilities

 

 

8,628,250

 

 

 

8,629,388

 

 

 

8,527,802

 

STOCKHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

 

Common stock

 

 

471

 

 

 

471

 

 

 

471

 

Additional paid-in capital

 

 

756,361

 

 

 

754,582

 

 

 

756,029

 

Retained earnings

 

 

712,588

 

 

 

677,854

 

 

 

583,170

 

Treasury stock

 

 

(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.

Page 6 of 13

BYLINE BANCORP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

 

 

Three Months Ended

 

(dollars in thousands,

 

June 30,

 

 

March 31,

 

 

June 30,

 

   except per share data)

 

2026

 

 

2026

 

 

2025

 

INTEREST AND DIVIDEND INCOME

 

 

 

 

 

 

 

 

 

Interest and fees on loans and leases

 

$

127,524

 

 

$

125,950

 

 

$

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

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

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
   and other related expenses

 

 

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.

Page 7 of 13

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
  (annualized where applicable)

 

 

 

 

 

 

 

 

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
  stockholders' equity(1)(3)

 

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
  held for investment to total deposits

 

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
  held for investment, net before ACL

 

0.92

%

 

 

0.90

%

 

 

0.92

%

Total non-performing assets as a percentage
   of total assets

 

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
  investment, net before ACL - loans and leases

 

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.

Page 8 of 13

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
Balance(5)

 

 

Interest
Inc / Exp

 

 

Avg.
Yield /
Rate

 

 

Average
Balance(5)

 

 

Interest
Inc / Exp

 

 

Avg.
Yield /
Rate

 

 

Average
Balance(5)

 

 

Interest
Inc / Exp

 

 

Avg.
Yield /
Rate

 

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 -
  loans and leases

 

(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’
   EQUITY

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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
  deposits

 

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
  debentures

 

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
  demand deposits

 

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
   STOCKHOLDERS’ EQUITY

$

9,882,985

 

 

 

 

 

 

 

 

$

9,797,832

 

 

 

 

 

 

 

 

$

9,633,817

 

 

 

 

 

 

 

Net interest spread(3)

 

 

 

 

 

 

 

3.49

%

 

 

 

 

 

 

 

 

3.54

%

 

 

 

 

 

 

 

 

3.31

%

Net interest income, fully
  taxable equivalent

 

 

 

$

101,014

 

 

 

 

 

 

 

 

$

100,059

 

 

 

 

 

 

 

 

$

96,213

 

 

 

 

Net interest margin, fully
  taxable equivalent(2)(4)(6)

 

 

 

 

 

 

 

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
  on margin

 

 

 

$

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.

Page 9 of 13

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
   other land

 

 

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
   other land

 

 

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
  and leases:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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
   other land

 

 

—

 

 

 

—

 

 

 

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
   loans and leases

 

$

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
   credit losses - loans and leases

 

$

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
  to average total loans and leases
  held for investment, net before ACL (annualized)

 

 

0.24

%

 

 

0.32

%

 

 

0.43

%

Provision for credit losses - loans and leases
  to net charge-offs - loans and leases
  during the period

 

 

1.67

x

 

 

1.01

x

 

 

1.54

x

 

 

Byline Bancorp, Inc.

Page 10 of 13

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
   percentage of total loans and leases

 

 

0.92

%

 

 

0.90

%

 

 

0.92

%

 

 

 

 

 

 

Total non-performing assets as a percentage
   of total assets

 

 

0.73

%

 

 

0.71

%

 

 

0.75

%

 

 

 

 

 

 

Allowance for credit losses - loans and lease
   as a percentage of non-performing
   loans and leases

 

 

161.91

%

 

 

161.84

%

 

 

159.47

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-performing assets guaranteed by
   U.S. government:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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
   not guaranteed as a percentage of total
   loans and leases

 

 

0.81

%

 

 

0.80

%

 

 

0.80

%

 

 

 

 

 

 

Total non-performing assets
   not guaranteed as a percentage
   of total assets

 

 

0.65

%

 

 

0.63

%

 

 

0.66

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Past due loans and leases 90 days or more
  and accruing interest:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Past due leases 90 days or more
  and accruing interest

 

$

1,114

 

 

$

—

 

 

$

—

 

 

 

100.0

%

 

 

100.0

%

Total past due loans and leases 90 days or more
  and accruing interest

 

$

1,114

 

 

$

—

 

 

$

—

 

 

 

100.0

%

 

 

100.0

%

Total past due loans and leases 90 days or more
   and accruing as a percentage of total
   loans and leases

 

 

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.

Page 11 of 13

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.

Page 12 of 13

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
   amortization of intangible assets:

 

 

 

 

 

 

 

 

 

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
   amortization of intangible assets

 

$

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.

Page 13 of 13

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
  intangible assets

 

$

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
  stockholders' equity:

 

 

 

 

 

 

 

 

 

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
  stockholders' equity

 

 

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

 

 

 

Slide 1

2Q26 Earnings Presentation Exhibit 99.2

Slide 2

Forward-Looking Statements 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 judgement 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. Due to rounding, numbers presented throughout this document may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.

Slide 3

Note: Map excludes Byline Bank branch located in Wauwatosa, WI. Source: S&P Global Market Intelligence and company filings. Data as of quarter ended June 30, 2026 or most recent available. BY market capitalization as of June 30, 2026. Second largest bank headquartered in Chicago based on total assets. Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix for a reconciliation of non-GAAP measure to the most directly comparable GAAP financial measure. Leading Chicago Commercial Banking Franchise Company Overview BY at a Glance ($mm) Leading Chicago Footprint Growth Strategy Size Aspiration Chicagoland Branch Locations 43 Largest Bank Headquartered in Chicago(1) #2 $9.9 Billion Total Assets $7.6 Billion Total Loans & Leases $7.9 Billion Total Deposits $1.1 Billion Tangible Common Equity (TCE)(2) $1.7 Billion Market Cap(1) A Chicago-based commercial bank with the strength, scale, and product offerings to compete effectively in our markets—delivering value to stockholders, customers, employees, and the communities we serve Preeminent Commercial Bank in Chicago Grow Customer Relationships Maintain Balance Sheet Strength Drive Profitable Growth Strategic Investment Gain market share in commercial banking Target lower middle market customers with full-service relationship banking to drive share and deepen engagement Grow low-cost deposits Build a stable funding base by growing business banking deposits and optimizing balance sheet efficiency Supplement organic growth through acquisitions Leverage acquisition expertise to capitalize on market opportunities

Slide 4

Second Quarter 2026 Highlights Data as of or for the quarter ended June 30, 2026, unless otherwise noted. Comparisons against quarter ended March 31, 2026, unless otherwise noted. Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix for a reconciliation of non-GAAP measure to the most directly comparable GAAP financial measure. Annualized. 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%. +9.6% Increase in Adjusted EPS(1) 2.29% Non-interest expense / Average assets +3.5% Increase in Deposits(2) 12.92% Common Equity Tier 1 327 bps Improvement in Adjusted Efficiency Ratio(1) 4 $40.2 million $40.5 million Reported Adjusted(1) 46.93% 46.51% Reported Adjusted(1) 2.49% 2.51% Reported(1)(2) Adjusted(1)(2) 14.47% 14.60% Reported(1)(2) Adjusted(1)(2) $0.90 $0.91 Reported Adjusted(1) 1.63% 1.65% Reported(2) Adjusted(1)(2) Net Income Diluted EPS PTPP ROAA Efficiency Ratio ROAA ROTCE Strong Financial Performance Delivered strong results, reflecting record revenue and solid growth Pre-Tax Pre-Provision income(1) of $61.2 million; Pre-Tax Pre-Provision ROAA(1)(2) of 2.49% Net interest income of $100.8 million, up 1.0%  Revenue of $117.7 million, up 4.7% Total payout ratio of 35.9%, inclusive of dividends and share repurchases Net interest margin (FTE)(1)(3) of 4.29% Net charge-offs(2) of 0.24% Stockholders' equity of $1.3 billion TCE/TA(1): 11.36% TBV/Share(1): $24.48

Slide 5

Highlights Total Loan Portfolio and Average Yield Loan Portfolio Trends ($ in millions) Portfolio Composition Total loan portfolio stood at $7.6 billion, up 4.2%(1) from 1Q26 Originated $233.7 million in new loans, net of loan sales in 2Q26 Commercial banking and leasing production of $68.9 million and $54.2 million, respectively Payoff activity increased by $18.8 million from 1Q26 to $338.5 million Average loan yield of 6.84%, flat LQ and down 28 bps Y/Y Utilization Rates Originations and Payoffs (1) Annualized. Last 12 Months Average

Slide 6

Highlights Deposit Trends ($ in millions) Total deposits were $7.9 billion, up 3.5%(1) from 1Q26 Increase primarily driven by growth in interest-bearing deposits Deposits costs increased one basis point to 1.92% Cost of interest-bearing deposits increased one basis point to 2.49% Maintained disciplined deposit pricing despite competitive dynamics across the market Cost of Interest-Bearing Deposits Avg. Non-Interest-Bearing Deposits Deposit Composition (1) Annualized.

Slide 7

Net Interest Income and Net Interest Margin Trends ($ in millions) Net interest income was $100.8 million, up 1.0% from 1Q26 Increase driven by day count, partially offset by higher funding costs Net interest margin of 4.28%, down 5 bps LQ and up 10 bps Y/Y Interest Rate Sensitivity Over a One-Year Time Horizon Ramp +100 bps: +$8 million or +2.1% in NII or +$2.1 million per 25 bps Ramp -100 bps: -$6 million or -1.6% in NII or -$1.6 million per 25 bps Net Interest Income Highlights NIM Bridge NIM, Yields and Costs Repricing Mix $99.9 Million NII $100.8 Million NII 4.33% 4.28%

Slide 8

Non-Interest Income Trends ($ in millions) Government Guaranteed Loan Sales $6.1 million in gain on sale of loans sold, driven by higher volume $78.1 million of guaranteed loans sold in 2Q26 Non-interest income totaled $16.9 million, up 34.6% from 1Q26, reflecting: $1.9 million delta on the change in fair value of equity securities FV mark on net servicing asset improved by $736,000 LQ Wealth management AUM surpassed $1.0 billion Total Non-Interest Income Net Gains on Sales of Loans Highlights Volume Sold and Average Net Premiums

Slide 9

Non-Interest Expense Trends ($ in millions) (1) Non-interest expense of $56.5 million, down 1.2% from 1Q26, reflecting: Lower OREO expense due to fewer write-downs Lower salaries and employee benefits expenses, driven by lower payroll taxes and higher deferred costs Lower occupancy expense, due to reduced maintenance expense Continued focus on operating efficiency and expense discipline Adjusted efficiency ratio(1) improved 327 bps to 46.51% NIE/AA of 2.29%, down 8 bps Efficiency Ratio Non-Interest Expense Highlights Non-Interest Expense Bridge Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix for a reconciliation of non-GAAP measure to the most directly comparable GAAP financial measure. ($0.7) ($0.6) $0.5 $57.2 $56.5 $0.5 ($0.4)

Slide 10

Asset Quality Trends ($ in millions) Criticized & Classified Loans and Leases Net Charge-offs NPLs / Total Loans & Leases Allowance for Credit Losses (ACL) Note: Criticized & classified loans and leases risk rated special mention or worse.

Slide 11

Strong Capital Position (1) Strong Capital Base Capital Ratios (1) Return on Average Tangible Common Equity Common Equity Tier 1 Capital Priorities: Increased capital ratios: CET1 of 12.92%, up 37 bps LQ and up 107 bps Y/Y TCE/TA(1) of 11.36%, up 23 bps LQ and up 97 bps Y/Y Repurchased 274,528 shares of common stock during 2Q26 TBV per common share of $24.48(1), up 2.9% LQ and 13.6% Y/Y Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix for a reconciliation of non-GAAP measure to the most directly comparable GAAP financial measure. Fund Organic Growth Dividend M&A Buyback

Slide 12

 

Slide 13

Granular Deposit Base Consumer Deposits, $3.1 billion Commercial Deposits, $2.8 billion ~66% of Total Deposits are FDIC Insured …with limited concentration and granular customer base providing a stable source of funding Consumer Deposits(1) $3.7 billion at 6/30/26 Granular Deposit Base ~$32,000 Average Account Balance Customer Base ~118,000 Consumer Accounts Total Franchise 44 Branches Commercial Deposits $4.1 billion at 6/30/26 Granular Deposit Base ~$146,000 Average Account Balance Customer Base ~28,000 Commercial Accounts Consumer Deposits, $3.7 billion Commercial Deposits, $4.1 billion Uninsured 13% d Total Deposits $7.9 Billion as of 6/30/26 Core banking footprint in key urban MSAs in Wisconsin and a broad footprint in Chicago, IL A strength of our franchise is our well diversified deposit base… Excludes brokered deposits.

Slide 14

Ample Liquidity and Securities Portfolio ($ in millions) Liquidity Position Cash and cash equivalents of $193.6 million $1.6 billion investment portfolio all classified as AFS $2.4 billion of available borrowing capacity Uninsured deposits ratio at 33.8% Investment portfolio duration: 4.5 years; net of hedges: ~4.3 years Investment portfolio annual cash flow: ~$223 million Taxable securities yield of 3.52% Highlights AFS Portfolio by Type Securities + Cash (Average)

Slide 15

Government-Guaranteed Lending ($ in millions) ($ in millions) $ Balance % of Portfolio Unguaranteed $383.7 5.0% Guaranteed 58.4 0.8% Total SBA 7(a) Loans $442.1 5.8% Unguaranteed $28.6 0.4% Guaranteed 22.1 0.3% Total USDA Loans $50.7 0.7% ACL/Unguaranteed Loan Balance Since 2016, the unguaranteed government-guaranteed exposure has decreased from 14.6% down to 5.4% in 2Q26 Closed $115.5 million in SBA 7(a) & USDA loans in 2Q26 SBA 7(a) portfolio $442.1 million, flat from 1Q26 ACL/Unguaranteed loan balance ~7.9% $1.6 billion in serviced government guaranteed loans for investors in 2Q26 On Balance Sheet SBA 7(a) & USDA Loans SBA 7(a) & USDA Closed Loan Commitments Highlights $105.8 $123.6 $106.9 $98.7 $115.5

Slide 16

Financial Summary Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix for a reconciliation of non-GAAP measure to the most directly comparable GAAP financial measure. 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%. As of or For the Three Months Ended (dollars in thousands, except per share data) June 30, March 31, December 31, September 30, June 30, 2026 2026 2025 2025 2025 Income Statement Net interest income $ 100,836 $ 99,863 $ 101,255 $ 99,890 $ 95,982 Provision for credit losses 7,162 5,537 9,702 5,298 11,923 Non-interest income 16,876 12,538 15,750 15,845 14,471 Non-interest expense 56,479 57,189 60,369 60,518 59,602 Income before provision for income taxes 54,071 49,675 46,934 49,919 38,928 Provision for income taxes 13,890 12,096 12,413 12,719 8,846 Net income   $ 40,181   $ 37,579   $ 34,521   $ 37,200   $ 30,082 Diluted earnings per common share(1)   $ 0.90   $ 0.83   $ 0.76   $ 0.82   $ 0.66 Balance Sheet Total loans and leases HFI $ 7,542,411 $ 7,475,272 $ 7,509,369 $ 7,440,755 $ 7,328,055 Total deposits 7,870,762 7,801,816 7,647,443 7,828,197 7,810,479 Tangible common equity(1) 1,106,165 1,081,007 1,067,386 1,035,668 988,908 Balance Sheet Metrics Loans and leases / total deposits 96.10% 95.94% 98.37% 95.31% 94.15% Tangible common equity / tangible assets(1) 11.36% 11.13% 11.29% 10.78% 10.39% Key Performance Ratios Net interest margin 4.28% 4.33% 4.35% 4.27% 4.18% Efficiency ratio 46.93% 49.78% 50.32% 51.00% 52.61% Adjusted efficiency ratio(1) 46.51% 49.78% 50.15% 50.27% 48.20% Non-interest income to total revenues 14.34% 11.15% 13.46% 13.69% 13.10% Non-interest expense to average assets 2.29% 2.37% 2.47% 2.47% 2.48% Return on average assets 1.63% 1.56% 1.41% 1.52% 1.25% Adjusted return on average assets(1) 1.65% 1.56% 1.42% 1.54% 1.41% Pre-tax pre-provision return on average assets (1) 2.49% 2.29% 2.32% 2.25% 2.12% Dividend payout ratio on common stock 13.33% 14.46% 13.16% 12.20% 15.15% Tangible book value per common share(1) $ 24.48 $ 23.79 $ 23.44 $ 22.58 $ 21.56

Slide 17

Non-GAAP Reconciliation As of or For the Three Months Ended (dollars in thousands, except per share data) June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 Net income and earnings per share excluding significant items Reported Net Income $ 40,181 $ 37,579 $ 34,521 $ 37,200 $ 30,082 Significant items: Merger-related expenses — — — — 4,450 Secondary public offering of common stock expenses — — — — 413 Loss on extinguishment of debt — — — 843 — Impairment charges on assets held for sale 496 — 195 — — Tax benefit (130) — (50) (221) (1,117) Adjusted Net Income   $ 40,547   $ 37,579   $ 34,666   $ 37,822   $ 33,828 Reported Diluted Earnings per Share $ 0.90 $ 0.83 $ 0.76 $ 0.82 $ 0.66 Significant items: Merger-related expenses — — — — 0.10 Secondary public offering of common stock expenses — — — — 0.01 Loss on extinguishment of debt — — — 0.02 — Impairment charges on assets held for sale 0.01 — — — — Tax benefit — — — (0.01) (0.02) Adjusted Diluted Earnings per Share   $ 0.91   $ 0.83   $ 0.76   $ 0.83   $ 0.75

Slide 18

Non-GAAP Reconciliation (continued) As of or For the Three Months Ended                   (dollars in thousands) June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 Adjusted non-interest expense: Non-interest expense $ 56,479 $ 57,189 $ 60,369 $ 60,518 $ 59,602 Less: Merger-related expenses — — — — 4,450 Less: Secondary public offering of common stock expenses — — — — 413 Less: Loss on extinguishment of debt — — — 843 — Less: Impairment charges on assets held for sale and ROU assets 496 — 195 — — Adjusted non-interest expense   $ 55,983   $ 57,189   $ 60,174   $ 59,675   $ 54,739 Adjusted non-interest expense ex. amortization of intangible assets: Adjusted non-interest expense $ 55,983 $ 57,189 $ 60,174 $ 59,675 $ 54,739 Less: Amortization of intangible assets 1,235 1,235 1,494 1,494 1,499 Adjusted non-interest expense ex. amortization of intangible assets   $ 54,748   $ 55,954   $ 58,680   $ 58,181   $ 53,240 Pre-tax pre-provision net income: Pre-tax income $ 54,071 $ 49,675 $ 46,934 $ 49,919 $ 38,928 Add: Provision for credit losses 7,162 5,537 9,702 5,298 11,923 Pre-tax pre-provision net income   $ 61,233   $ 55,212   $ 56,636   $ 55,217   $ 50,851 Adjusted pre-tax pre-provision net income: Pre-tax pre-provision net income $ 61,233 $ 55,212 $ 56,636 $ 55,217 $ 50,851 Add: Merger-related expenses — — — — 4,450 Add: Secondary public offering of common stock expenses — — — — 413 Add: Loss on extinguishment of debt — — — 843 — Add: Impairment charges on assets held for sale 496 — 195 — — Adjusted pre-tax pre-provision net income   $ 61,729   $ 55,212   $ 56,831   $ 56,060   $ 55,714 Tax equivalent net interest income: Net interest income $ 100,836 $ 99,863 $ 101,255 $ 99,890 $ 95,982 Add: Tax-equivalent adjustment 178 196 213 228 232 Net interest income, fully taxable equivalent   $ 101,014   $ 100,059   $ 101,468   $ 100,118   $ 96,214 Total revenues: Net interest income $ 100,836 $ 99,863 $ 101,255 $ 99,890 $ 95,982 Add: Non-interest income 16,876 12,538 15,750 15,845 14,471 Total revenues   $ 117,712   $ 112,401   $ 117,005   $ 115,735   $ 110,453

Slide 19

Non-GAAP Reconciliation (continued) As of or For the Three Months Ended                   (dollars in thousands) June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 Tangible common stockholders' equity: Total stockholders' equity $ 1,304,215 $ 1,280,292 $ 1,267,906 $ 1,237,682 $ 1,192,416 Less: Goodwill and other intangibles 198,050 199,285 200,520 202,014 203,508 Tangible common stockholders' equity   $ 1,106,165   $ 1,081,007   $ 1,067,386   $ 1,035,668   $ 988,908 Tangible assets: Total assets $ 9,932,465 $ 9,909,680 $ 9,652,676 $ 9,812,375 $ 9,720,218 Less: Goodwill and other intangibles 198,050 199,285 200,520 202,014 203,508 Tangible assets   $ 9,734,415   $ 9,710,395   $ 9,452,156   $ 9,610,361   $ 9,516,710 Average tangible common stockholders' equity: Average total stockholders' equity $ 1,337,584 $ 1,333,423 $ 1,290,789 $ 1,208,290 $ 1,178,554 Less: Average goodwill and other intangibles 198,629 199,943 201,251 202,723 203,767 Average tangible common stockholders' equity   $ 1,138,955   $ 1,133,480   $ 1,089,538   $ 1,005,567   $ 974,787 Average tangible assets: Average total assets $ 9,882,985 $ 9,797,832 $ 9,683,103 $ 9,716,920 $ 9,633,817 Less: Average goodwill and other intangibles 198,629 199,943 201,251 202,723 203,767 Average tangible assets   $ 9,684,356   $ 9,597,889   $ 9,481,852   $ 9,514,197   $ 9,430,050 Tangible net income: Net income $ 40,181 $ 37,579 $ 34,521 $ 37,200 $ 30,082 Add: After-tax intangible asset amortization 912 912 1,104 1,103 1,107 Tangible net income   $ 41,093   $ 38,491   $ 35,625   $ 38,303   $ 31,189 Adjusted tangible net income: Tangible net income $ 41,093 $ 38,491 $ 35,625 $ 38,303 $ 31,189 Add: Merger-related expenses — — — — 4,450 Add: Secondary public offering of common stock expenses — — — — 413 Add: Loss on extinguishment of debt — — — 843 — Add: Impairment charges on assets held for sale 496 — 195 — — Add: Tax benefit on significant items (130) — (50) (221) (1,117) Adjusted tangible net income   $ 41,459   $ 38,491   $ 35,770   $ 38,925   $ 34,935

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Non-GAAP Reconciliation (continued) As of or For the Three Months Ended                   (dollars in thousands, except share and per share data, ratios annualized, where applicable) June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 Pre-tax pre-provision return on average assets: Pre-tax pre-provision net income $ 61,233 $ 55,212 $ 56,636 $ 55,217 $ 50,851 Average total assets 9,882,985 9,797,832 9,683,103 9,716,920 9,633,817 Pre-tax pre-provision return on average assets   2.49%   2.29%   2.32%   2.25%   2.12% Adjusted pre-tax pre-provision return on average assets: Adjusted pre-tax pre-provision net income $ 61,729 $ 55,212 $ 56,831 $ 56,060 $ 55,714 Average total assets 9,882,985 9,797,832 9,683,103 9,716,920 9,633,817 Adjusted pre-tax pre-provision return on average assets   2.51%   2.29%   2.33%   2.29%   2.32% Net interest margin, fully taxable equivalent: Net interest income, fully taxable equivalent $ 101,014 $ 100,059 $ 101,468 $ 100,118 $ 96,214 Total average interest-earning assets 9,457,037 9,347,232 9,230,799 9,288,078 9,209,178 Net interest margin, fully taxable equivalent   4.29%   4.34%   4.36%   4.28%   4.19% Non-interest income to total revenues: Non-interest income $ 16,876 $ 12,538 $ 15,750 $ 15,845 $ 14,471 Total revenues 117,712 112,401 117,005 115,735 110,453 Non-interest income to total revenues   14.34%   11.15%   13.46%   13.69%   13.10% Adjusted non-interest expense to average assets: Adjusted non-interest expense $ 55,983 $ 57,189 $ 60,174 $ 59,675 $ 54,739 Average total assets 9,882,985 9,797,832 9,683,103 9,716,920 9,633,817 Adjusted non-interest expense to average assets   2.27%   2.37%   2.47%   2.47%   2.48% Adjusted efficiency ratio: Adjusted non-interest expense excluding amortization of intangible assets $ 54,748 $ 55,954 $ 58,680 $ 58,181 $ 53,240 Total revenues 117,712 112,401 117,005 115,735 110,453 Adjusted efficiency ratio   46.51%   49.78%   50.15%   50.27%   48.20% Adjusted return on average assets: Adjusted net income $ 40,547 $ 37,579 $ 34,666 $ 37,822 $ 33,828 Average total assets 9,882,985 9,797,832 9,683,103 9,716,920 9,633,817 Adjusted return on average assets   1.65%   1.56%   1.42%   1.54%   1.41% Adjusted return on average stockholders' equity: Adjusted net income $ 40,547 $ 37,579 $ 34,666 $ 37,822 $ 33,828 Average stockholders' equity 1,337,584 1,333,423 1,290,789 1,208,290 1,178,554 Adjusted return on average stockholders' equity   12.16%   11.43%   10.65%   12.42%   11.51%

Slide 21

Non-GAAP Reconciliation (continued) As of or For the Three Months Ended                   June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 Tangible common equity to tangible assets: Tangible common equity $ 1,106,165 $ 1,081,007 $ 1,067,386 $ 1,035,668 $ 988,908 Tangible assets 9,734,415 9,710,395 9,452,156 9,610,361 9,516,710 Tangible common equity to tangible assets   11.36%   11.13%   11.29%   10.78%   10.39% Return on average tangible common stockholders' equity: Tangible net income $ 41,093 $ 38,491 $ 35,625 $ 38,303 $ 31,189 Average tangible common stockholders' equity 1,138,955 1,133,480 1,089,538 1,005,567 974,787 Return on average tangible common stockholders' equity   14.47%   13.77%   12.97%   15.11%   12.83% Adjusted return on average tangible common stockholders' equity: Adjusted tangible net income $ 41,459 $ 38,491 $ 35,770 $ 38,925 $ 34,935 Average tangible common stockholders' equity 1,138,955 1,133,480 1,089,538 1,005,567 974,787 Adjusted return on average tangible common stockholders' equity   14.60%   13.77%   13.02%   15.36%   14.37% Tangible book value per share: Tangible common equity $ 1,106,165 $ 1,081,007 $ 1,067,386 $ 1,035,668 $ 988,908 Common shares outstanding 45,191,493 45,442,851 45,545,928 45,859,977 45,866,649 Tangible book value per share   $ 24.48   $ 23.79   $ 23.44   $ 22.58   $ 21.56

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