PART I. FINANCIAL INFORMATION [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) The unaudited interim financial statements show total assets grew to $5.7 billion while net income fell to $3.0 million due to increased loan loss provisions Condensed Consolidated Statements of Financial Condition (Balance Sheet) | Financial Metric | March 31, 2020 ($ thousands) | December 31, 2019 ($ thousands) | Change (%) | | :--- | :--- | :--- | :--- | | **Total Assets** | **5,734,754** | **5,521,809** | **+3.9%** | | Net Loans and Leases | 3,818,419 | 3,753,725 | +1.7% | | Securities Available-for-Sale | 1,299,483 | 1,186,292 | +9.5% | | **Total Liabilities** | **4,972,087** | **4,771,694** | **+4.2%** | | Total Deposits | 4,238,836 | 4,147,577 | +2.2% | | Short-term Borrowings | 640,647 | 539,638 | +18.7% | | **Total Stockholders' Equity** | **762,667** | **750,115** | **+1.7%** | Condensed Consolidated Statements of Operations (Income Statement) | Financial Metric | Three Months Ended Mar 31, 2020 ($ thousands) | Three Months Ended Mar 31, 2019 ($ thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Net Interest Income | 52,825 | 50,085 | +5.5% | | Provision for Loan and Lease Losses | 14,455 | 3,999 | +261.5% | | Non-Interest Income | 9,173 | 11,988 | -23.5% | | Non-Interest Expense | 43,527 | 40,679 | +7.0% | | **Net Income** | **2,966** | **12,597** | **-76.5%** | | **Diluted EPS** | **$0.07** | **$0.34** | **-79.4%** | Consolidated Statements of Cash Flows Summary | Cash Flow Activity | Three Months Ended Mar 31, 2020 ($ thousands) | Three Months Ended Mar 31, 2019 ($ thousands) | | :--- | :--- | :--- | | Net Cash from Operating Activities | 25,853 | 13,651 | | Net Cash used in Investing Activities | (177,191) | (113,117) | | Net Cash from Financing Activities | 190,220 | 59,603 | | **Net Increase (Decrease) in Cash** | **38,882** | **(39,863)** | [Note 3—Acquisition](index=12&type=section&id=Note%203%E2%80%94Acquisition) The company acquired Oak Park River Forest Bankshares, Inc for $35.5 million, resulting in $20.2 million of goodwill - The acquisition of Oak Park River Forest Bankshares, Inc was completed on April 30, 2019, for a **total consideration of $35.5 million**[48](index=48&type=chunk)[49](index=49&type=chunk) - The transaction resulted in **goodwill of $20.2 million**, which is non-deductible for tax purposes[50](index=50&type=chunk) Fair Value of Assets Acquired and Liabilities Assumed | Category | Fair Value ($ thousands) | | :--- | :--- | | Total Assets Acquired | 321,199 | | Total Liabilities Assumed | 305,892 | | **Net Assets Acquired** | **15,307** | [Note 5—Loan and Lease Receivables](index=17&type=section&id=Note%205%E2%80%94Loan%20and%20Lease%20Receivables) Total loans and leases increased to $3.86 billion, led by growth in commercial real estate and commercial and industrial loans Loan and Lease Portfolio Composition | Loan Category | March 31, 2020 ($ thousands) | December 31, 2019 ($ thousands) | | :--- | :--- | :--- | | Commercial real estate | 1,293,225 | 1,275,058 | | Commercial and industrial | 1,413,090 | 1,330,418 | | Residential real estate | 693,650 | 711,499 | | Construction, land development, etc. | 278,579 | 279,403 | | Lease financing receivables | 170,734 | 177,774 | | **Total Loans and Leases** | **3,854,918** | **3,780,636** | - The loan portfolio is categorized into **originated loans ($2.98 billion)**, acquired impaired loans ($243.4 million), and acquired non-impaired loans ($632.2 million) as of March 31, 2020[78](index=78&type=chunk) [Note 6—Allowance for Loan and Lease Losses and Reserve for Unfunded Commitments](index=20&type=section&id=Note%206%E2%80%94Allowance%20for%20Loan%20and%20Lease%20Losses%20and%20Reserve%20for%20Unfunded%20Commitments) The allowance for loan and lease losses increased significantly to $41.8 million, driven by a $14.5 million provision for losses in Q1 2020 Allowance for Loan and Lease Losses Activity (Q1 2020) | Metric | Amount ($ thousands) | | :--- | :--- | | Beginning Balance (Jan 1, 2020) | 31,936 | | Provisions | 14,455 | | Charge-offs | (4,972) | | Recoveries | 421 | | **Ending Balance (Mar 31, 2020)** | **41,840** | - The company **increased its ALLL by $9.9 million** during Q1 2020, compared to a $1.9 million increase in Q1 2019[90](index=90&type=chunk) Loan Delinquency Status (Originated & Acquired Non-Impaired) | Status | March 31, 2020 ($ thousands) | December 31, 2019 ($ thousands) | | :--- | :--- | :--- | | Current | 3,508,829 | 3,450,557 | | 30-59 Days Past Due | 55,282 | 25,963 | | 60-89 Days Past Due | 3,757 | 14,201 | | Nonaccrual | 48,963 | 36,272 | [Note 12—Short-Term Borrowings](index=28&type=section&id=Note%2012%E2%80%94Short-Term%20Borrowings) Short-term borrowings rose to $640.6 million, primarily due to a new $250.0 million borrowing from the Federal Reserve Bank discount window Short-Term Borrowings Composition | Borrowing Source | March 31, 2020 ($ thousands) | December 31, 2019 ($ thousands) | | :--- | :--- | :--- | | Federal Reserve Bank discount window | 250,000 | — | | Federal Home Loan Bank advances | 335,000 | 490,000 | | Securities sold under agreements to repurchase | 55,647 | 49,638 | | **Total** | **640,647** | **539,638** | - As of March 31, 2020, the company had **available credit lines of $1.57 billion** from the Federal Home Loan Bank and $346.7 million from the Federal Reserve Bank discount window[131](index=131&type=chunk) - The company established access to the **Paycheck Protection Program Liquidity Facility (PPPLF)** in April 2020 to support its PPP lending activities[132](index=132&type=chunk) [Note 19—Stockholders' Equity](index=43&type=section&id=Note%2019%E2%80%94Stockholders'%20Equity) The company initiated a stock repurchase program, buying back 118,486 shares for $1.7 million in Q1 2020 - A stock repurchase program for up to **1,250,000 shares** was approved in November 2019 and is effective until December 31, 2020, though it was paused in March 2020[226](index=226&type=chunk) - In Q1 2020, the company **repurchased 118,486 shares at a cost of $1.7 million**[227](index=227&type=chunk) - A **cash dividend of $0.03 per common share** was declared on March 13, 2020[228](index=228&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=45&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the COVID-19 impact, including a higher loan loss provision, active PPP lending, and growth in net interest income and total assets [Response to COVID-19 Pandemic](index=46&type=section&id=Response%20to%20COVID-19%20Pandemic) The company responded to the pandemic by participating in the PPP, offering loan deferrals, and modifying branch operations - The company actively participated in the Paycheck Protection Program (PPP), registering over **3,550 loans totaling $716.4 million** through April 29, 2020, with an expected fee income of approximately $23.5 million[238](index=238&type=chunk)[301](index=301&type=chunk) - Through April 29, 2020, the company approved approximately **$395.7 million in COVID-19 related payment deferrals**, representing 10.3% of its total loans and leases[239](index=239&type=chunk) - Operational changes included temporarily closing 19 branches, converting 25 to drive-thru only, and keeping 16 open for appointments to ensure social distancing[241](index=241&type=chunk) [Results of Operations](index=51&type=section&id=Results%20of%20Operations) Q1 2020 net income fell to $3.0 million due to a $10.5 million increase in the provision for loan and lease losses - **Net income decreased by $9.6 million** year-over-year, mainly due to a $10.5 million increase in the provision for loan and lease losses[288](index=288&type=chunk) - **Net interest margin decreased by 26 basis points to 4.17%** in Q1 2020 from 4.43% in Q1 2019, primarily due to lower loan accretion income[302](index=302&type=chunk)[303](index=303&type=chunk) - **Non-interest income decreased by $2.8 million**, driven by a $1.8 million increase in the loan servicing asset revaluation (downward adjustment) and a $1.5 million decrease in net gains on loan sales[306](index=306&type=chunk)[311](index=311&type=chunk)[315](index=315&type=chunk) - **Non-interest expense increased by $2.8 million**, primarily due to a $1.8 million rise in salaries and employee benefits from organizational growth and the Oak Park River Forest acquisition[319](index=319&type=chunk)[320](index=320&type=chunk) [Financial Condition](index=59&type=section&id=Financial%20Condition) Total assets grew 3.9% to $5.7 billion, driven by increases in net loans, securities, and total deposits - **Total assets increased by $212.9 million (3.9%)** since year-end 2019[331](index=331&type=chunk) - The loan portfolio's growth was driven by a **$149.0 million increase in originated loans**, which offset a $74.4 million decrease in the acquired loan portfolio due to renewals and paydowns[344](index=344&type=chunk)[346](index=346&type=chunk) - **Total deposits increased by $91.3 million (2.2%)**, with non-interest-bearing deposits comprising 30.5% of the total[332](index=332&type=chunk)[373](index=373&type=chunk) - **Non-performing assets increased by 25.1% to $60.0 million** from $47.9 million at year-end 2019, primarily due to a $12.7 million increase in non-accrual loans[366](index=366&type=chunk) [Capital Resources](index=73&type=section&id=Capital%20Resources) The company and Byline Bank remained 'well-capitalized' under regulatory standards, with stockholders' equity increasing to $762.7 million Regulatory Capital Ratios (Company) | Ratio | March 31, 2020 | Minimum Required | | :--- | :--- | :--- | | Common Equity Tier 1 (CET1) | 12.24% | 4.50% | | Tier 1 Capital | 13.52% | 6.00% | | Total Capital | 14.50% | 8.00% | | Leverage Ratio | 11.18% | 4.00% | - As of March 31, 2020, Byline Bank exceeded all applicable regulatory capital requirements and was considered **"well-capitalized"**[394](index=394&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=83&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company's primary market risk is interest rate risk, with models showing a +100 bps rate shift would increase NII by 4.6% - The company's primary market risk is **interest rate risk**, which it manages through its Asset Liability Committee by monitoring metrics like economic value of equity and net interest income simulations[427](index=427&type=chunk) Net Interest Income Sensitivity (Immediate Rate Shifts) | Rate Change | Estimated NII Change (Next 12 Months) | | :--- | :--- | | +200 bps | +9.3% | | +100 bps | +4.6% | | -100 bps | -5.2% | [Item 4. Controls and Procedures](index=85&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of March 31, 2020 - The President and CEO, along with the CFO, concluded that as of March 31, 2020, the company's **disclosure controls and procedures were effective**[436](index=436&type=chunk) - **No changes in internal control over financial reporting** occurred during the quarter ended March 31, 2020, that materially affected, or are reasonably likely to materially affect, internal controls[437](index=437&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=86&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently party to any legal proceedings expected to have a material adverse effect on its business - The company is **not presently party to any legal proceedings** expected to have a material adverse effect on its business[441](index=441&type=chunk) [Item 1A. Risk Factors](index=86&type=section&id=Item%201A.%20Risk%20Factors) A significant new risk factor has been added related to the business, financial, and operational impacts of the COVID-19 pandemic - A new material risk factor has been introduced concerning the **adverse effects of the COVID-19 pandemic** on the company's business, employees, customers, and financial results[442](index=442&type=chunk) - Key pandemic-related risks include potential for **increased loan losses**, declining collateral values, reduced net interest income due to lower interest rates, and possible goodwill impairment[442](index=442&type=chunk)[444](index=444&type=chunk)[445](index=445&type=chunk) - The company faces risks related to its participation in the PPP, including **potential litigation** over its loan processing and the risk that the **SBA may deny its guarantee** if loans were not originated or serviced correctly[449](index=449&type=chunk)[450](index=450&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=88&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company repurchased 118,486 shares for $1.7 million in Q1 2020 under its stock repurchase program Q1 2020 Stock Repurchase Activity | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | February 2020 | 7,778 | $17.00 | | March 2020 | 110,708 | $13.87 | | **Total Q1 2020** | **118,486** | **$14.08** | [Item 6. Exhibits](index=89&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including required CEO and CFO certifications - The exhibits include certifications from the Chief Executive Officer and Chief Financial Officer pursuant to **Sections 302 and 906 of the Sarbanes-Oxley Act of 2002**[461](index=461&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-38139 Byline Bancorp, Inc. (Exact name of Registrant as specified in its Charter) Delaware 36-3012593 ( State or other jurisdiction o ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______to ______ Commission File Number 001-38139 Byline Bancorp, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 36-3012593 (State or Other Juri ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______to ______ Commission File Number 001-38139 Byline Bancorp, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 36-3012593 (State or Other Jurisdict ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______to ______ Commission File Number 001-38139 Byline Bancorp, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 36-3012593 (State or Other Jurisdic ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-38139 | --- | --- | |---------------------------------------------------------------------------------------------------------------- ...