Fourth quarter net income of $34.5 million, $0.76 diluted earnings per share
Full year net income of $130.1 million, $2.89 diluted earnings per share
CHICAGO–(BUSINESS WIRE)–Byline Bancorp, Inc. (NYSE: BY), today reported:
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At or for the quarter |
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Full Year Highlights (compared to prior year) |
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4Q25 |
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3Q25 |
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4Q24 |
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Financial Results ($ in thousands) |
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• Delivered solid full year 2025 results reflecting record revenues of $446.3 million |
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Net interest income |
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$ |
101,255 |
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$ |
99,890 |
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$ |
88,524 |
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Non-interest income |
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15,750 |
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15,845 |
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16,149 |
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Total revenue(1) |
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117,005 |
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115,735 |
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104,673 |
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• Net income increased 7.7% to $130.1 million |
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Non-interest expense (NIE) |
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60,369 |
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60,518 |
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57,431 |
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Pre-tax pre-provision net income (PTPP)(1) |
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56,636 |
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55,217 |
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47,242 |
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• PTPP net income of $209.4 million(1), up 11.3% |
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Provision for credit losses |
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9,702 |
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5,298 |
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6,878 |
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Provision for income taxes |
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12,413 |
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12,719 |
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10,044 |
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• Net interest income up $37.3 million, or 10.7%; NIM up 25 bps to 4.22% |
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Net income |
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$ |
34,521 |
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$ |
37,200 |
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$ |
30,320 |
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Per Share |
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• Generated full year positive operating leverage |
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Diluted earnings per share (EPS) |
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$ |
0.76 |
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$ |
0.82 |
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$ |
0.69 |
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Dividends declared per common share |
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0.10 |
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0.10 |
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0.09 |
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• TBV per common share of $23.44(1), up 16.7% |
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Book value per common share |
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27.84 |
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26.99 |
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24.55 |
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Tangible book value per common share(1) |
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23.44 |
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22.58 |
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20.09 |
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Fourth Quarter Highlights (compared to prior quarter) |
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Balance Sheet & Credit Quality ($ in thousands) |
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• Net interest income of $101.3 million, an increase of $1.4 million, or 1.4% |
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Total deposits |
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$ |
7,647,443 |
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$ |
7,828,197 |
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$ |
7,458,628 |
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Total loans and leases |
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7,522,990 |
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7,461,321 |
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6,910,022 |
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Net charge-offs |
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6,707 |
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7,107 |
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7,792 |
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• NIM expanded eight bps to 4.35% |
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Allowance for credit losses (ACL) |
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108,834 |
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105,717 |
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97,988 |
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ACL to total loans and leases held for investment |
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1.45% |
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1.42% |
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1.42% |
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• PTPP ROAA of 2.32%(1), 13th consecutive quarter greater than 2.00% |
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Select Ratios (annualized where applicable) |
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Efficiency ratio(1) |
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50.32% |
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51.00% |
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53.58% |
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• Efficiency ratio(1) of 50.32% |
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Return on average assets (ROAA) |
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1.41% |
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1.52% |
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1.31% |
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Return on average stockholders’ equity |
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10.61% |
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12.21% |
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11.03% |
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• TCE/TA of 11.29%(1), increase of 51 bps |
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Return on average tangible common equity(1) |
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12.97% |
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15.11% |
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13.92% |
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Net interest margin (NIM) |
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4.35% |
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4.27% |
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4.01% |
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• CET 1 of 12.33%, up 18 bps |
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Common equity to total assets |
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13.14% |
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12.61% |
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11.49% |
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Tangible common equity to tangible assets(1) |
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11.29% |
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10.78% |
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9.61% |
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• Repurchased 345,706 common shares |
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Common equity tier 1 |
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12.33% |
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12.15% |
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11.70% |
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CEO/President Commentary
Roberto R. Herencia, Executive Chairman and CEO of Byline Bancorp, commented, “Throughout 2025 we advanced our strategy of becoming the preeminent commercial bank in Chicago and delivering strong financial results. We made significant progress across our strategic priorities—deepening our commercial presence, growing customers, and executing initiatives that strengthened our franchise. As we enter 2026, we are operating from a position of strength, remain focused on consistent execution of our strategy, supporting our customers, and driving long‑term value for our stockholders.”
Alberto J. Paracchini, President of Byline Bancorp, added, “Our fourth quarter performance reflected strong execution across our business units. We delivered solid earnings, maintained excellent profitability while strengthening our balance sheet. The quarter capped a year of meaningful progress, and we are well positioned to support our customers and drive profitable growth in 2026. I want to thank all our employees for their dedication, talent, and commitment, which remain central to our success.”
Board Declares Cash Dividend of $0.12 per Share
On January 21, 2026, the Company’s Board of Directors declared a cash dividend of $0.12 per share, which represents a 20.0% increase from the previous quarterly dividend of $0.10 per share. The dividend will be paid on February 17, 2026, to stockholders of record of the Company’s common stock as of February 3, 2026.
STATEMENTS OF OPERATIONS HIGHLIGHTS
Net Interest Income
Quarterly results
Net interest income for the fourth quarter of 2025 was $101.3 million, an increase of $1.4 million, or 1.4%, from the third quarter of 2025. The increase in net interest income was due to lower rates paid on deposits and the redemption of the subordinated note issued during 2020 on October 1, 2025, offset by lower interest income on loans and leases and on securities.
Tax-equivalent net interest margin(1) for the fourth quarter of 2025 was 4.36%, an increase of eight basis points compared to the third quarter of 2025. The increase was primarily due to lower rates paid on deposits and lower costs of subordinated notes and debentures, offset by lower yields on loans and leases. Net loan accretion income contributed 10 basis points to the net interest margin for the quarter, a one basis point decrease over the prior quarter.
The average cost of total deposits was 1.97% for the fourth quarter of 2025, a decrease of 19 basis points compared to the third quarter of 2025, mainly as a result of a lower rates paid on money market accounts, and lower balances of, and rates paid on, brokered time deposits.
Full-year results
Net interest income for the year ended December 31, 2025 was $385.3 million, an increase of $37.3 million, or 10.7%, from the prior year. The increase in net interest income was primarily due to lower rates paid on deposits, and higher interest income reflecting growth in the loan and lease portfolio, offset by lower income on other interest and dividend income.
Tax-equivalent net interest margin(1) for the year ended December 31, 2025 was 4.23%, an increase of 25 basis points compared to the prior year. The increase was primarily a result of the changing interest rate environment, reflecting our lower reliance on brokered time deposits, offset by lower yields on loans and interest-bearing cash. Net loan accretion income contributed 11 basis points to the net interest margin for the year, a four basis point decrease over the prior year.
The average cost of total deposits was 2.17% for the year ended December 31, 2025, a decrease of 44 basis points compared to the prior year mainly as a result of lower balances and rates paid on time deposits.
Provision for Credit Losses
Quarterly results
The provision for credit losses was $9.7 million for the fourth quarter of 2025, an increase of $4.4 million compared to $5.3 million for the third quarter of 2025, mainly due to higher non-performing loans and leases.
Full-year result
The provision for credit losses was $36.1 million for the year ended December 31, 2025, an increase of $9.1 million compared to $27.0 million for the prior year, mainly due to growth in the loan and leases portfolio and higher non-performing loans and leases.
Non-interest Income
Quarterly results
Non-interest income for the fourth quarter of 2025 was $15.7 million, a slight decrease of $95,000, or 0.6%, compared to $15.8 million for the third quarter of 2025. The modest decline in total non-interest income was primarily due to lower net gains on sales of loans, offset by higher other non-interest income and increases in the fair value of equity securities. Net gains on sales of loans totaled $5.4 million for the quarter, a decrease of $1.6 million, or 22.8%, compared to the prior quarter. This decrease was primarily due to lower premiums, mix and timing of loans sold. During the fourth quarter of 2025, we sold $78.9 million of U.S. government guaranteed loans compared to $92.9 million during the third quarter of 2025.
Full-year results
Non-interest income for the year ended December 31, 2025 was $60.9 million, an increase of $2.1 million, or 3.5%, compared to $58.9 million for the prior year. The increase in total non-interest income was primarily due to higher income on other non-interest income primarily driven by swap activity, and a lower downward revaluation on the loan servicing asset, offset by lower net gains on sales of loans. Net gains on sales of loans were $22.7 million for the current year, a decrease of $1.8 million, or 7.4% compared to the prior year, primarily due to lower premiums compared to the prior year. During 2025, we sold $315.0 million of U.S. government guaranteed loans compared to $314.8 million during the prior year.
Non-interest Expense
Quarterly results
Non-interest expense for the fourth quarter of 2025 was $60.4 million, a decrease of $149,000, or 0.2%, compared to $60.5 million for the third quarter of 2025. The decrease in non-interest expense was mainly due to lower loan and lease related expenses and lower data processing expenses, offset by higher salaries and benefits.
Our efficiency ratio was 50.32%(1) for the fourth quarter of 2025, compared to 51.00%(1) for the third quarter of 2025, an improvement of 68 basis points. The improvement in the efficiency ratio was mainly driven by decreased interest expense. Excluding significant items, our adjusted efficiency ratio was 50.15%(1) for the fourth quarter of 2025, compared to 50.27%(1) for the third quarter of 2025, an improvement of 12 basis points.
Full-year results
Non-interest expense for the year ended December 31, 2025 was $236.9 million, an increase of $18.1 million, or 8.3%, compared to $218.8 million for the year ended December 31, 2024. The increase in non-interest expense was mainly due to increased salaries and employee benefits, legal, audit, and other professional fees, and data processing, all primarily driven from merger-related activities.
Our efficiency ratio was 51.83%(1) for the year ended December 31, 2025, compared to 52.45%(1) for the year ended December 31, 2024, an improvement of 62 basis points. The improvement in the efficiency ratio was mainly driven by increased total revenues and lower interest expense. Excluding significant items, our adjusted efficiency ratio was 50.37%(1) for the year ended December 31, 2025, compared to 52.24%(1) for the year ended December 31, 2024, an improvement of 187 basis points, mainly due to higher revenues, lower interest expense, and lower adjusted non-interest expense.
Income Taxes
Quarterly results
We recorded income tax expense of $12.4 million during the fourth quarter of 2025, compared to $12.7 million during the third quarter of 2025. The effective tax rates were 26.4% and 25.5% for the fourth and third quarters of 2025, respectively.
Full-year results
We recorded income tax expense of $43.2 million during the year ended December 31, 2025, compared to $40.3 million during the year ended December 31, 2024. The effective tax rates were 24.9% and 25.0% for the years ended December 31, 2025 and December 31, 2024, respectively.
STATEMENTS OF FINANCIAL CONDITION HIGHLIGHTS
Assets
Total assets were $9.7 billion as of December 31, 2025, a decrease of $159.7 million, or 1.6%, compared to $9.8 billion at September 30, 2025, and an increase of $156.1 million, or 1.6% compared to $9.5 billion as of December 31, 2024.
The decrease for the current quarter was mainly due to a decrease in cash and cash equivalents of $112.1 million and a decrease in securities of $107.1 million, offset by a $65.5 million increase to net loans and leases.
The increase for the current year was mainly due to a $591.7 million increase in net loans and leases, offset by a decrease of $414.0 million to cash and cash equivalents.
Allowance for Credit Losses
The ACL was $108.8 million as of December 31, 2025, an increase of $3.1 million, or 2.9%, from $105.7 million at September 30, 2025, mainly due to higher non-performing loans, and an increase of $10.8 million, or 11.1%, from $98.0 million as of December 31, 2024.
Net loan and lease charge-offs during the fourth quarter of 2025 were $6.7 million, or 0.36% of average loans and leases, on an annualized basis, a decrease of $400,000 compared to net charge-offs of $7.1 million, or 0.38% of average loans and leases, during the third quarter of 2025. The decrease in net charge-offs for the quarter was due to lower charge-offs in the commercial real estate portfolio.
Net loan and leases charge-offs during the year ended December 31, 2025 were $28.1 million, or 0.39% of average loans and leases, a decrease of $3.9 million compared to net charge-offs of $32.0 million, or 0.47% of average loans and leases, during the year ended December 31, 2024. The decrease in net charge-offs for the year was mainly due to higher recoveries and a decrease in commercial and industrial charge-offs.
Asset Quality
Non-performing assets were $74.7 million, or 0.77% of total assets, as of December 31, 2025, an increase of $7.3 million from $67.4 million, or 0.69% of total assets, at September 30, 2025. The increase was mainly driven by one loan reclassified to non-performing, offset by decreases to other real estate owned. The government guaranteed portion of non-performing loans included in non-performing assets was $9.7 million at December 31, 2025, compared to $8.4 million at September 30, 2025, an increase of $1.3 million.
Non-performing assets increased $7.4 million compared to December 31, 2024, primarily due to increases in non-accrual in commercial and industrial and commercial real estate loans, offset by decreases in other real estate owned. The government guaranteed portion of non-performing loans included in non-performing assets decreased $146,000 during 2025, from $9.9 million as of December 31, 2024, to $9.7 million as of December 31, 2025.
Deposits and Other Liabilities
Total deposits decreased $180.8 million, or 2.3% to $7.6 billion at December 31, 2025 from $7.8 billion as of September 30, 2025, and increased $188.8 million or 2.5% from $7.5 billion as of December 31, 2024. The decrease in deposits during the fourth quarter was mainly due to decreases in non-interest-bearing demand accounts, and decreases to time deposits. The increase during the year was due primarily to deposits acquired through acquisition.
Total borrowings and other liabilities were $737.3 million at December 31, 2025, a decrease of $9.2 million from $746.5 million at September 30, 2025, and a decrease of $209.1 million from $946.4 million as of December 31, 2024. The decrease for the quarter was primarily driven by the redemption of $75.0 million of subordinated notes, offset by higher Federal Home Loan Bank (“FHLB”) advances. The decrease for the year was primarily due to lower FHLB advances.
Stockholders’ Equity
Total stockholders’ equity was $1.3 billion at December 31, 2025, an increase of $30.2 million, or 2.4%, from September 30, 2025, primarily due to an increase in retained earnings from net income. Total stockholders’ equity increased $176.4 million, or 16.2% from December 31, 2024, due to increased retained earnings from net income, lower unrealized loss on securities available-for-sale in accumulated other comprehensive income, and from common stock issued in connection with the First Security acquisition.
During the quarter and year ended December 31, 2025, we purchased 345,706 and 922,729 shares of our common stock at an average price of $28.21 and $25.72, per share, respectively.
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(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. |
Conference Call, Webcast and Slide Presentation
We will host a conference call and webcast at 9:00 a.m. Central Time on Friday, January 23, 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) 470-1428; passcode 535219. A recorded replay can be accessed through February 6, 2026, by dialing (866) 813-9403; passcode: 656595.
A slide presentation relating to our fourth quarter 2025 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 $9.6 billion in assets and operates 45 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, 2024. 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.
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BYLINE BANCORP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (unaudited) |
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December 31, |
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September 30, |
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December 31, |
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(dollars in thousands) |
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ASSETS |
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Cash and due from banks |
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$ |
60,184 |
|
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$ |
70,406 |
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$ |
58,759 |
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Interest bearing deposits with other banks |
|
|
88,911 |
|
|
|
190,774 |
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|
|
504,379 |
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Cash and cash equivalents |
|
|
149,095 |
|
|
|
261,180 |
|
|
|
563,138 |
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Equity and other securities, at fair value |
|
|
10,660 |
|
|
|
10,461 |
|
|
|
9,865 |
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Securities available-for-sale, at fair value |
|
|
1,405,106 |
|
|
|
1,512,194 |
|
|
|
1,415,696 |
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Securities held-to-maturity, at amortized cost |
|
|
— |
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|
|
— |
|
|
|
605 |
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Restricted stock, at cost |
|
|
21,314 |
|
|
|
15,934 |
|
|
|
27,452 |
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Loans held for sale |
|
|
13,621 |
|
|
|
20,566 |
|
|
|
3,200 |
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Loans and leases: |
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|||
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Loans and leases |
|
|
7,509,369 |
|
|
|
7,440,755 |
|
|
|
6,906,822 |
|
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Allowance for credit losses – loans and leases |
|
|
(108,834 |
) |
|
|
(105,717 |
) |
|
|
(97,988 |
) |
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Net loans and leases |
|
|
7,400,535 |
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|
|
7,335,038 |
|
|
|
6,808,834 |
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Servicing assets, at fair value |
|
|
19,234 |
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|
|
19,019 |
|
|
|
18,952 |
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Premises and equipment, net |
|
|
57,988 |
|
|
|
58,785 |
|
|
|
60,502 |
|
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Other real estate owned, net |
|
|
3,394 |
|
|
|
4,220 |
|
|
|
5,170 |
|
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Goodwill and other intangible assets, net |
|
|
200,520 |
|
|
|
202,014 |
|
|
|
198,098 |
|
|
Bank-owned life insurance |
|
|
107,462 |
|
|
|
106,575 |
|
|
|
100,083 |
|
|
Deferred tax assets, net |
|
|
41,779 |
|
|
|
49,918 |
|
|
|
56,458 |
|
|
Accrued interest receivable and other assets |
|
|
221,968 |
|
|
|
216,471 |
|
|
|
228,476 |
|
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Total assets |
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$ |
9,652,676 |
|
|
$ |
9,812,375 |
|
|
$ |
9,496,529 |
|
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LIABILITIES AND STOCKHOLDERS’ EQUITY |
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LIABILITIES |
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Non-interest-bearing demand deposits |
|
$ |
1,818,888 |
|
|
$ |
1,932,869 |
|
|
$ |
1,756,098 |
|
|
Interest-bearing deposits |
|
|
5,828,555 |
|
|
|
5,895,328 |
|
|
|
5,702,530 |
|
|
Total deposits |
|
|
7,647,443 |
|
|
|
7,828,197 |
|
|
|
7,458,628 |
|
|
Other borrowings |
|
|
419,598 |
|
|
|
361,286 |
|
|
|
618,773 |
|
|
Subordinated notes, net |
|
|
73,940 |
|
|
|
148,971 |
|
|
|
74,040 |
|
|
Junior subordinated debentures issued to capital trusts, net |
|
|
71,409 |
|
|
|
71,272 |
|
|
|
70,890 |
|
|
Accrued expenses and other liabilities |
|
|
172,380 |
|
|
|
164,967 |
|
|
|
182,701 |
|
|
Total liabilities |
|
|
8,384,770 |
|
|
|
8,574,693 |
|
|
|
8,405,032 |
|
|
STOCKHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
|
|||
|
Common stock |
|
|
471 |
|
|
|
471 |
|
|
|
455 |
|
|
Additional paid-in capital |
|
|
760,700 |
|
|
|
758,089 |
|
|
|
717,763 |
|
|
Retained earnings |
|
|
645,724 |
|
|
|
615,784 |
|
|
|
533,901 |
|
|
Treasury stock |
|
|
(65,914 |
) |
|
|
(56,959 |
) |
|
|
(46,935 |
) |
|
Accumulated other comprehensive loss, net of tax |
|
|
(73,075 |
) |
|
|
(79,703 |
) |
|
|
(113,687 |
) |
|
Total stockholders’ equity |
|
|
1,267,906 |
|
|
|
1,237,682 |
|
|
|
1,091,497 |
|
|
Total liabilities and stockholders’ equity |
|
$ |
9,652,676 |
|
|
$ |
9,812,375 |
|
|
$ |
9,496,529 |
|
|
BYLINE BANCORP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) |
||||||||||||||||||||
|
|
|
Three Months Ended |
|
|
Year Ended |
|
||||||||||||||
|
(dollars in thousands, |
|
December 31, |
|
|
September 30, |
|
|
December 31, |
|
|
December 31, |
|
|
December 31, |
|
|||||
|
except per share data) |
|
|
|
|
|
|
|
|
|
|
||||||||||
|
INTEREST AND DIVIDEND INCOME |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Interest and fees on loans and leases |
|
$ |
129,394 |
|
|
$ |
132,401 |
|
|
$ |
123,702 |
|
|
$ |
511,224 |
|
|
$ |
502,353 |
|
|
Interest on securities |
|
|
12,431 |
|
|
|
13,289 |
|
|
|
11,710 |
|
|
|
51,754 |
|
|
|
43,218 |
|
|
Other interest and dividend income |
|
|
2,375 |
|
|
|
2,936 |
|
|
|
4,191 |
|
|
|
9,242 |
|
|
|
20,358 |
|
|
Total interest and dividend income |
|
|
144,200 |
|
|
|
148,626 |
|
|
|
139,603 |
|
|
|
572,220 |
|
|
|
565,929 |
|
|
INTEREST EXPENSE |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Deposits |
|
|
38,432 |
|
|
|
42,857 |
|
|
|
46,725 |
|
|
|
167,718 |
|
|
|
192,366 |
|
|
Other borrowings |
|
|
1,639 |
|
|
|
1,502 |
|
|
|
1,466 |
|
|
|
6,372 |
|
|
|
13,669 |
|
|
Subordinated notes and debentures |
|
|
2,874 |
|
|
|
4,377 |
|
|
|
2,888 |
|
|
|
12,782 |
|
|
|
11,848 |
|
|
Total interest expense |
|
|
42,945 |
|
|
|
48,736 |
|
|
|
51,079 |
|
|
|
186,872 |
|
|
|
217,883 |
|
|
Net interest income |
|
|
101,255 |
|
|
|
99,890 |
|
|
|
88,524 |
|
|
|
385,348 |
|
|
|
348,046 |
|
|
PROVISION FOR CREDIT LOSSES |
|
|
9,702 |
|
|
|
5,298 |
|
|
|
6,878 |
|
|
|
36,102 |
|
|
|
27,041 |
|
|
Net interest income after provision for credit losses |
|
|
91,553 |
|
|
|
94,592 |
|
|
|
81,646 |
|
|
|
349,246 |
|
|
|
321,005 |
|
|
NON-INTEREST INCOME |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Fees and service charges on deposits |
|
|
2,799 |
|
|
|
2,741 |
|
|
|
2,648 |
|
|
|
10,876 |
|
|
|
10,214 |
|
|
Loan servicing revenue |
|
|
3,085 |
|
|
|
3,062 |
|
|
|
3,151 |
|
|
|
12,261 |
|
|
|
12,905 |
|
|
Loan servicing asset revaluation |
|
|
(1,107 |
) |
|
|
(1,294 |
) |
|
|
(1,350 |
) |
|
|
(5,602 |
) |
|
|
(6,704 |
) |
|
ATM and interchange fees |
|
|
975 |
|
|
|
1,015 |
|
|
|
1,083 |
|
|
|
4,083 |
|
|
|
4,464 |
|
|
Net gains (losses) on sales of securities available-for-sale |
|
|
16 |
|
|
|
— |
|
|
|
(699 |
) |
|
|
(21 |
) |
|
|
(699 |
) |
|
Change in fair value of equity securities, net |
|
|
199 |
|
|
|
(298 |
) |
|
|
732 |
|
|
|
795 |
|
|
|
1,122 |
|
|
Net gains on sales of loans |
|
|
5,386 |
|
|
|
6,981 |
|
|
|
7,107 |
|
|
|
22,719 |
|
|
|
24,540 |
|
|
Wealth management and trust income |
|
|
1,324 |
|
|
|
1,366 |
|
|
|
1,110 |
|
|
|
4,846 |
|
|
|
4,310 |
|
|
Other non-interest income |
|
|
3,073 |
|
|
|
2,272 |
|
|
|
2,367 |
|
|
|
10,968 |
|
|
|
8,699 |
|
|
Total non-interest income |
|
|
15,750 |
|
|
|
15,845 |
|
|
|
16,149 |
|
|
|
60,925 |
|
|
|
58,851 |
|
|
NON-INTEREST EXPENSE |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Salaries and employee benefits |
|
|
38,813 |
|
|
|
37,492 |
|
|
|
37,281 |
|
|
|
150,376 |
|
|
|
140,119 |
|
|
Occupancy and equipment expense, net |
|
|
4,142 |
|
|
|
4,531 |
|
|
|
4,407 |
|
|
|
18,264 |
|
|
|
18,703 |
|
|
Impairment charge on assets held for sale |
|
|
195 |
|
|
|
— |
|
|
|
— |
|
|
|
195 |
|
|
|
— |
|
|
Loan and lease related expenses |
|
|
584 |
|
|
|
1,274 |
|
|
|
660 |
|
|
|
3,623 |
|
|
|
2,789 |
|
|
Legal, audit, and other professional fees |
|
|
4,088 |
|
|
|
3,876 |
|
|
|
3,358 |
|
|
|
16,058 |
|
|
|
13,428 |
|
|
Data processing |
|
|
4,385 |
|
|
|
4,903 |
|
|
|
4,473 |
|
|
|
19,445 |
|
|
|
16,869 |
|
|
Net loss recognized on other real estate owned and other related expenses |
|
|
528 |
|
|
|
617 |
|
|
|
654 |
|
|
|
1,143 |
|
|
|
568 |
|
|
Other intangible assets amortization expense |
|
|
1,494 |
|
|
|
1,494 |
|
|
|
1,345 |
|
|
|
5,605 |
|
|
|
5,380 |
|
|
Other non-interest expense |
|
|
6,140 |
|
|
|
6,331 |
|
|
|
5,253 |
|
|
|
22,209 |
|
|
|
20,921 |
|
|
Total non-interest expense |
|
|
60,369 |
|
|
|
60,518 |
|
|
|
57,431 |
|
|
|
236,918 |
|
|
|
218,777 |
|
|
INCOME BEFORE PROVISION FOR INCOME TAXES |
|
|
46,934 |
|
|
|
49,919 |
|
|
|
40,364 |
|
|
|
173,253 |
|
|
|
161,079 |
|
|
PROVISION FOR INCOME TAXES |
|
|
12,413 |
|
|
|
12,719 |
|
|
|
10,044 |
|
|
|
43,202 |
|
|
|
40,320 |
|
|
NET INCOME |
|
$ |
34,521 |
|
|
$ |
37,200 |
|
|
$ |
30,320 |
|
|
$ |
130,051 |
|
|
$ |
120,759 |
|
|
EARNINGS PER COMMON SHARE |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Basic |
|
$ |
0.77 |
|
|
$ |
0.82 |
|
|
$ |
0.69 |
|
|
$ |
2.90 |
|
|
$ |
2.78 |
|
|
Diluted |
|
$ |
0.76 |
|
|
$ |
0.82 |
|
|
$ |
0.69 |
|
|
$ |
2.89 |
|
|
$ |
2.75 |
|
Contacts
Investors / Media:
Brooks O. Rennie
Investor Relations Director
(312) 660-5805
[email protected]
