Company:Byline Bank

From HandWiki
Byline Bancorp, Inc.
TypePublic company
NYSE: BY
Russell 2000 Index component
IndustryBanking
Founded1978; 48 years ago (1978)
Headquarters
Chicago, Illinois, U.S.
Number of locations
57 branches (2019)[1]
Key people
Roberto Herencia,
Chairman
Alberto Paracchini,
CEO
RevenueIncrease $216 million (2019)
Increase $57 million (2019)
Total assetsIncrease $5.521 billion (2019)
Total equityIncrease $750 million (2019)
Number of employees
1,001 (2019)
Websitewww.bylinebank.com
Footnotes / references
[1]

Byline Bank is a bank headquartered in Chicago, Illinois, United States. It is the primary subsidiary of Byline Bancorp, Inc., a bank holding company, and the 4th largest SBA 7(a) lender.[1]

History

The company was founded in 1978 by the Fasseas family as Metropolitan Bank Group, after the purchase of North Community Bank.[2] The family grew the bank from a single location to more than 90 branches in the Chicago metropolitan area before suffering in the 2008 financial crisis.[3]

In 2009, it accepted $71.5 million from the Troubled Asset Relief Program.[2][4][5] In 2013, BXM Holdings LLC purchased and recapitalized the bank with a $207 million investment.[3]

A year before acquiring Ridgestone Bank,[6][7] the company was renamed Byline Bancorp Inc. and consolidated all its subsidiaries under the name Byline Bank in 2015.[8]

In June 2017, the company became a public company via an initial public offering.[9][10][11] In May 2018, the company acquired First Evanston Bancorp for $178.6 million in cash and stock.[12]

In April 2019, the company acquired Oak Park River Forest Bank shares for $40.0 million in cash and stock.[13] In December 2022, Byline entered a merger agreement and acquired Inland Bank, valued at approximately $165 million in cash and stock.[14] The merger was finalized in July 2023.[15]

On April 1, 2025, Byline merged with First Security Bank, closing at an approximate $41.5 million valuation. Under the agreement, every share of First Security’s common stock was converted into the right to receive 2.3539 shares of Byline common stock.[16]

References

  1. ↑ 1.0 1.1 1.2 "Byline Bancorp, Inc. 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission. https://www.sec.gov/Archives/edgar/data/1702750/000156459020010516/by-10k_20191231.htm. 
  2. ↑ 2.0 2.1 Yerak, Becky (April 23, 2012). "Investor to pump $150M into Metropolitan Bank". Chicago Tribune. https://www.chicagotribune.com/business/ct-xpm-2012-04-23-chi-outside-investor-to-pump-150m-into-metropolitan-bank-20120423-story.html. 
  3. ↑ 3.0 3.1 Daniels, Steve (June 28, 2013). "Sale of Fasseases' Metropolitan Bank Group final". Crain's Chicago Business. https://www.chicagobusiness.com/article/20130628/NEWS01/130629768/sale-of-fasseases-metropolitan-bank-group-final. 
  4. ↑ Daniels, Steve (April 23, 2012). "Herencia-led group agrees to rescue Fasseas family banks". Crain's Chicago Business. https://www.chicagobusiness.com/article/20120423/NEWS01/120429937/herencia-led-group-agrees-to-rescue-fasseas-family-banks. 
  5. ↑ Daniels, Steve (April 9, 2010). "Metropolitan Bank Group cuts salaries, headcount -- and a bank". Crain's Chicago Business. https://www.chicagobusiness.com/article/20100409/NEWS01/200037765/metropolitan-bank-group-cuts-salaries-headcount-and-a-bank. 
  6. ↑ "Byline Bancorp, Inc. Announces Bruce Lammers to Retire from Byline Bank" (Press release). Byline Bancorp. May 15, 2019 – via Business Wire.
  7. ↑ Schuyler, David (June 9, 2016). "Ridgestone Financial to be purchased by Chicago's Byline Bancorp". Milwaukee Business Journal. https://www.bizjournals.com/milwaukee/news/2016/06/09/ridgestone-financialto-be-purchased-by-chicagos.html. 
  8. ↑ Daniels, Steve (March 19, 2015). "Meet the biggest bank in Chicago you never heard of". Crain's Chicago Business. https://www.chicagobusiness.com/article/20150318/NEWS01/150319784/chicago-s-byline-bank-undergoes-rebranding. 
  9. ↑ "Byline Bancorp Announces Pricing of Initial Public Offering" (Press release). Byline Bancorp. June 29, 2017 – via Business Wire.
  10. ↑ Daniels, Steve (June 30, 2017). "Byline is Chicago's newest publicly traded bank". Crain's Chicago Business. https://www.chicagobusiness.com/article/20170630/NEWS01/170639990/byline-bancorp-ipo-launches. 
  11. ↑ Zumbach, Lauren (June 30, 2017). "Byline Bancorp shares begin trading on New York Stock Exchange". Chicago Tribune. https://www.chicagotribune.com/business/ct-byline-bank-ipo-price-0701-biz-20170630-story.html. 
  12. ↑ "Byline Bancorp, Inc. Completes the Acquisition of First Evanston Bancorp" (Press release). Byline Bancorp. May 31, 2018 – via Business Wire.
  13. ↑ "Byline Bancorp, Inc. Completes the Acquisition of Oak Park River Forest Bankshares" (Press release). Byline Bancorp. April 30, 2019 – via Business Wire.
  14. ↑ "Byline Bank to Merge with Inland Bank & Trust". December 1, 2022. https://www.connectcre.com/stories/byline-bank-to-merge-with-inland-bank-trust/. 
  15. ↑ "Byline Bancorp, Inc. Completes the Merger with Inland Bancorp, Inc" (Press release). Byline Bancorp. Retrieved 2023-08-17 – via Business Wire.
  16. ↑ "First Security Bancorp, Inc. Completes Merger With Byline Bancorp, Inc" (Press release). Barack Ferrazzano. April 3, 2025.



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