Byline Bancorp, Inc. - BY STOCK NEWS

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 $165 million. This merger will make Byline the largest community bank in Chicago, expanding its footprint across suburban communities. Post-merger, Byline will manage about $8.5 billion in assets, with significant increases in loans and deposits. The deal is projected to enhance Byline's earnings per share by over 8% in 2023 and 10.7% in 2024, with pre-tax expense reductions estimated at 30% of Inland's expense base.

Byline Bancorp reported a strong financial performance for the third quarter of 2022, achieving a net income of $22.7 million, or $0.61 per diluted share, up from $20.3 million in Q2 2022.

Net interest income reached $68.9 million, driven by increased loan and deposit growth in a favorable interest rate environment. Total revenues were $80.9 million, with a net interest margin of 4.04%. Total deposits increased to $5.6 billion, reflecting a $224.1 million rise.

Byline Bancorp, Inc. (NYSE: BY) will release its third quarter 2022 financial results after market close on October 27, 2022. A conference call and webcast will take place on October 28, 2022, at 9:00 a.m. Central Time to discuss the results. Analysts and investors will have the opportunity to participate in the Q&A session. Byline Bancorp operates Byline Bank, which manages about $7.1 billion in assets and is one of the top five SBA lenders in the U.S., serving small and medium-sized businesses primarily in Chicago and Milwaukee.

Byline Bancorp, Inc. (NYSE: BY) announced the appointment of Thomas J. Bell, III as Chief Financial Officer, effective August 15, 2022. He succeeds Lindsay Corby, who is leaving after nine years for a role outside the banking industry. Maria Sherylle A. Olano will also take on the title of Chief Accounting Officer. Both promotions highlight Byline's commitment to strong leadership and succession planning as the bank continues to grow. Byline Bancorp operates over 30 branches and has approximately $7.1 billion in assets, serving both businesses and consumers in Chicago and Milwaukee.

Byline Bancorp reported a net income of $20.3 million or $0.54 per diluted share for Q2 2022, down from $22.3 million in Q1 2022 and $28.5 million in Q2 2021. Total revenue reached $75.8 million, driven by net interest income of $61.6 million and non-interest income of $14.2 million. Loan and lease growth was strong at 34.2% annually, despite a slight dip in net interest margin to 3.76%. The company declared a $0.09 cash dividend per share, payable on August 23, 2022.

Byline Bancorp, Inc. (NYSE: BY) announced it will release its second quarter 2022 financial results on Thursday, July 28, 2022. Following this, a conference call and webcast are scheduled for 9:00 a.m. Central Time on Friday, July 29, 2022, allowing analysts and investors to engage in a Q&A session. Byline Bancorp is headquartered in Chicago and operates Byline Bank, which has assets of approximately $6.8 billion and serves small- and medium-sized businesses across the Chicago and Milwaukee areas.

Byline Bancorp reported net income of $22.3 million, or $0.58 per diluted share, for Q1 2022, an increase from $17.2 million in Q4 2021. Total revenue reached $78.2 million, with net interest income at $58.7 million, though it declined 4.8% from the previous quarter. The net interest margin was 3.81%. Non-interest income rose 2.2% to $19.4 million. The efficiency ratio improved to 54.96%. Additionally, the company redeemed all shares of its Series B Preferred Stock, totaling $10.6 million, and declared a cash dividend of $0.09 per share.