Welcome to our dedicated page for Byline Bancorp news (Ticker: BY), a resource for investors and traders seeking the latest updates and insights on Byline Bancorp stock.
Byline Bancorp, Inc. (symbol: BY) operates as the bank holding company for Byline Bank, which provides a diverse range of banking products and services primarily to small and medium-sized businesses, commercial real estate clients, financial sponsors, and consumers across the United States. The company, headquartered in Chicago, offers an array of deposit accounts including non-interest bearing accounts, money market demand accounts, savings accounts, interest-bearing checking accounts, and certificates of deposit.
Byline Bancorp also delivers a wide spectrum of commercial loan products. These include term loans, revolving lines of credit, construction financing, and small business administration loans. In addition, the company provides cash management products, small ticket equipment leasing services through its wholly-owned subsidiary, Byline Financial Group, as well as online, mobile, and direct banking services.
The company operates 56 branch offices situated in the Chicago metropolitan area and one branch office in Brookfield, Wisconsin. Formerly known as Metropolitan Bank Group, Inc., the company rebranded to Byline Bancorp, Inc. in 2015. Byline Bancorp, Inc. was initially incorporated in 1978.
Recent achievements include expanding its product offerings and strengthening its financial condition through strategic initiatives and partnerships. Byline Bancorp continues to innovate and adapt to the evolving financial landscape, ensuring its services remain competitive and relevant.
For more detailed updates on Byline Bancorp's latest news, financial performance, and ongoing projects, please refer to the latest news section below.
Byline Bancorp, Inc. (NYSE: BY) will release its first quarter 2023 financial results on April 27, 2023, after market close. A conference call to discuss these results will take place on April 28, 2023, at 9:00 a.m. Central Time. Investors can participate via telephone or through a live webcast available on the company's Investor Relations website.
Byline Bancorp, headquartered in Chicago, operates Byline Bank, which has approximately $7.4 billion in assets and more than 30 branches in the Chicago and Milwaukee areas. The bank is notable for providing a variety of commercial and retail banking services, and is recognized as a leading lender for small businesses in the United States.
Byline Bancorp reported a fourth quarter 2022 net income of $24.4 million ($0.65 per diluted share), up from $20.4 million ($0.55 per diluted share) in Q3 2022 and $17.2 million ($0.45 per diluted share) in Q4 2021. Total loans and leases increased by $160 million, while total deposits rose by $82.7 million to $5.7 billion. The net interest margin improved to 4.39%, up 36 basis points from the prior quarter. Full year 2022 net income reached $88 million ($2.34 per diluted share). The company declared a $0.09 cash dividend per share on January 24, 2023:
- Cash dividend payable February 21, 2023.
Byline Bancorp, Inc. (NYSE: BY) announced that it will release its fourth quarter 2022 financial results after market close on January 26, 2023. A conference call and webcast will be held on January 27, 2023, at 9:00 a.m. Central Time to discuss these results.
The call will include a Q&A session for analysts and investors. The conference call can be accessed at 844-200-6205 with the passcode 608025. The webcast will be available on Byline Bancorp's Investor Relations website.
Byline Bancorp has approved a new stock repurchase program allowing the purchase of up to 1.25 million shares, representing 3.3% of its outstanding common stock. This program will commence on January 1, 2023, and continue until December 31, 2023. The company previously repurchased over 2.1 million shares under an expiring program. CEO Roberto R. Herencia emphasized the importance of this program for capital allocation and returning value to shareholders. The repurchases will be made based on market conditions, with no obligation to purchase any specific number of shares.
Byline Bancorp, Inc. (NYSE: BY) has entered into a definitive merger agreement with Inland Bancorp, Inc. in a cash and stock deal valued at approximately
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