Byline Bank
| Company type | Public company |
|---|---|
| NYSE: BY Russell 2000 Index component | |
| Industry | Banking |
| Founded | 1978 |
| Headquarters | |
Number of locations | 57 branches (2019)[1] |
Key people | Roberto Herencia, Chairman Alberto Paracchini, CEO |
| Revenue | $216 million (2019) |
| $57 million (2019) | |
| Total assets | $5.521 billion (2019) |
| Total equity | $750 million (2019) |
Number of employees | 1,001 (2019) |
| Website | www |
| 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
- ^ a b c "Byline Bancorp, Inc. 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ a b Yerak, Becky (April 23, 2012). "Investor to pump $150M into Metropolitan Bank". Chicago Tribune.
- ^ a b Daniels, Steve (June 28, 2013). "Sale of Fasseases' Metropolitan Bank Group final". Crain's Chicago Business.
- ^ Daniels, Steve (April 23, 2012). "Herencia-led group agrees to rescue Fasseas family banks". Crain's Chicago Business.
- ^ Daniels, Steve (April 9, 2010). "Metropolitan Bank Group cuts salaries, headcount -- and a bank". Crain's Chicago Business.
- ^ "Byline Bancorp, Inc. Announces Bruce Lammers to Retire from Byline Bank" (Press release). Byline Bancorp. May 15, 2019 – via Business Wire.
- ^ Schuyler, David (June 9, 2016). "Ridgestone Financial to be purchased by Chicago's Byline Bancorp". Milwaukee Business Journal. Retrieved March 12, 2026.
- ^ Daniels, Steve (March 19, 2015). "Meet the biggest bank in Chicago you never heard of". Crain's Chicago Business.
- ^ "Byline Bancorp Announces Pricing of Initial Public Offering" (Press release). Byline Bancorp. June 29, 2017 – via Business Wire.
- ^ Daniels, Steve (June 30, 2017). "Byline is Chicago's newest publicly traded bank". Crain's Chicago Business.
- ^ Zumbach, Lauren (June 30, 2017). "Byline Bancorp shares begin trading on New York Stock Exchange". Chicago Tribune.
- ^ "Byline Bancorp, Inc. Completes the Acquisition of First Evanston Bancorp" (Press release). Byline Bancorp. May 31, 2018 – via Business Wire.
- ^ "Byline Bancorp, Inc. Completes the Acquisition of Oak Park River Forest Bankshares" (Press release). Byline Bancorp. April 30, 2019 – via Business Wire.
- ^ "Byline Bank to Merge with Inland Bank & Trust". Connect CRE. December 1, 2022. Retrieved March 12, 2026.
- ^ "Byline Bancorp, Inc. Completes the Merger with Inland Bancorp, Inc" (Press release). Byline Bancorp. Retrieved 2023-08-17 – via Business Wire.
- ^ "First Security Bancorp, Inc. Completes Merger With Byline Bancorp, Inc" (Press release). Barack Ferrazzano. April 3, 2025.
External links
- Official website
- Business data for Byline Bancorp: