Byline Bancorp (BY) came out with quarterly earnings of $0.73 per share, beating the Zacks Consensus Estimate of $0.67 per share. This compares to earnings of $0.67 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.96%. A quarter ago, it was expected that this bank holding company would post earnings of $0.61 per share when it actually produced earnings of $0.77, delivering a surprise of 26.23%.Over the last four quarters, the ...

Wall Street analysts expect Byline Bancorp (BY) to post quarterly earnings of $0.67 per share in its upcoming report, which indicates no change from the year-ago quarter. Revenues are expected to be $101.07 million, up 14.8% from the year-ago quarter.Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Ahead of a company's earnings disclosure, it is crucial to ...

Financial Performance - For the three months ended September 30, 2023, the company reported a net income of $28.2 million, an increase of $5.6 million compared to $22.7 million for the same period in 2022[244]. - The annual return on average assets for the nine months ended September 30, 2023, was 1.34%, up from 1.26% in the same period of 2022[233]. - The company reported net income available to common stockholders of $78.3 million for the nine months ended September 30, 2023, compared to $65.1 million for the same period in 2022[248]. - The return on average stockholders' equity for the three months ended September 30, 2023, was 12.11%, compared to 11.74% for the same period in 2022[233]. Assets and Liabilities - Total consolidated assets as of September 30, 2023, were $8.9 billion, with total gross loans and leases outstanding at $6.6 billion[249]. - As of September 30, 2023, total deposits were $7.0 billion, reflecting the company's strong deposit base[249]. - The balance of investment securities at the end of the period is $281,000, a decrease from $666,000 at the beginning of the period, reflecting a change in fair value of $(67,000)[262]. - The balance of servicing assets at the end of the period is $19,743, a decrease from $21,127 in the previous year[262]. Income and Dividends - The company declared dividends on common shares of $3.9 million for the three months ended September 30, 2023, compared to $3.4 million for the same period in 2022[245]. - Net interest income increased by $23.6 million and $55.1 million for the three and nine months ended September 30, 2023, respectively, primarily due to higher yields on loans and leases[244]. Acquisitions and Market Position - The acquisition of Inland Bancorp, Inc. was completed on July 1, 2023, with 5,932,323 shares of common stock issued in connection with the acquisition[236]. - The company was the fifth most active SBA lender in the country and the most active 7(a) and 504 lender in Illinois for the fiscal year ended September 30, 2023[242]. Derivative Instruments and Risk Management - The notional amounts of derivative assets are $650,000, with a fair value of $47,488 for assets and $1,633 for liabilities[264]. - The Company has a bilateral agreement with each swap counterparty to fully collateralize fluctuations in derivative values with cash or securities[265]. - The aggregate interest rate risk exposure is monitored within board-approved policy limits, with results of simulation analysis being hypothetical[516]. - The Company has agreements with derivative counterparties that include cross-default provisions, which could lead to default on derivative obligations if the Company defaults on any indebtedness[266]. - The weighted average remaining maturity of derivative instruments is 3.2 years[264]. - The net interest income simulation model evaluates potential changes in net interest income under various interest rate scenarios, with results not intended as forecasts but for planning asset-liability management strategies[515].

Financial Data and Key Metrics Changes - Total revenue was $105 million, an increase of $14 million for the quarter and 30% year-on-year [1] - Net interest income increased by $16 million or 21% due to higher loan balances [1] - Noninterest income declined primarily due to a negative fair value mark on servicing assets, despite increased gain on sale revenue [1] - Operating expenses, including merger-related charges, were $58 million for the quarter, up 17% [1] - Excluding charges, operating expenses were $51 million, marking a 6.8% increase from the prior quarter [1] Business Line Data and Key Metrics Changes - The government-guaranteed lending business had commitments closed totaling $113 million, indicating healthy business development activity [2] - Total loans and leases increased to $6.6 billion, with an increase of $1 billion from the prior quarter, largely due to the Inland merger [81] - Non-interest income stood at $12.4 million, down $1.9 million linked quarter, primarily due to a negative fair value mark on loan servicing assets [83] Market Data and Key Metrics Changes - Deposits increased to $7 billion, up $1 billion largely due to the transaction, with a linked quarter increase of $74.4 million or 5.8% [2][82] - The allowance for credit losses as a percentage of unguaranteed loan balances was 8.1%, lower due to loan upgrades and payoffs [4] Company Strategy and Development Direction - The company remains disciplined in expense management and is on track to meet projected cost savings, with non-interest expense guidance unchanged at $53 million to $55 million per quarter [6] - The company aims to differentiate itself in the marketplace and deliver results for customers and stockholders despite significant uncertainties in the environment [8] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ability to continue delivering strong results despite uncertainties in the economy [8] - The company is focused on executing its strategy and expects capital levels to grow given its earnings outlook [85] Other Important Information - The merger added approximately $1 billion in deposits and $800 million in loans, enhancing the company's market position [96] - The company reported net income of $28 million or $0.65 per share, with adjusted net income of $33 million or $0.77 per diluted share, marking significant increases [78] Q&A Session Summary Question: Inquiry about margin and core number adjustments - Management confirmed that the core margin is trending lower from the third quarter to the fourth quarter, with adjustments made for nonrecurring items [10][14] Question: Concerns about credit quality and areas of focus - Management noted that while the office sector is under scrutiny, other asset classes remain stable, with no significant issues reported [21][51] Question: Discussion on M&A opportunities - Management acknowledged the challenges in the current M&A landscape but remains open to opportunities, particularly in light of larger players shrinking their portfolios [38][64]

Byline Bancorp, Inc. Forward-Looking Statements 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, 2022. Any forward-looking statement speaks only as of the date on which it is made, and Byline undertakes no obligation to update any forw ...

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 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. | --- | --- | --- | |-----------------------|----------------------------------------------------------------------------------------------------------------------------------------- ...

Byline Bancorp, Inc. (NYSE:BY) Q2 2023 Earnings Conference Call July 28, 2023 10:00 AM ET Company Participants Brooks Rennie - Head, IR Alberto Paracchini - President Roberto Herencia - Chairman, CEO Thomas Bell - CFO and Treasurer Mark Fucinato - Chief Credit Officer Conference Call Participants Nathan Race - Piper Sandler Ben Gerlinger - Hovde Group Terry McEvoy - Stephens Brian Martin - Janney Montgomery Scott Damon DelMonte - KBW Operator Good morning, and welcome to the Byline Bancorp Second Quarter 20 ...

GAAP Reconciliation and Management Explanation of Non-GAAP Financial Measures 73 • "Total revenue" is the combination of net interest income and non-interest income. Management believes the metric is an important measure of the Company's operating performance on an ongoing basis. • "Tangible book value per common share" is calculated as tangible common equity, which is stockholders' equity reduced by preferred stock and goodwill and other intangible assets, divided by total shares of common stock outstandin ...

Byline Bancorp, Inc. (NYSE:BY) Q1 2023 Results Conference Call April 28, 2023 10:00 AM ET Company Participants Brooks Rennie - Head, IR Alberto Paracchini - President Roberto Herencia - Chairman, CEO Thomas Bell - CFO, Treasurer Mark Fucinato - Chief Credit Officer Conference Call Participants Ben Gerlinger - Hovde Group Brian Martin - Janney Damon DelMonte - KBW Nate Race - Piper Sandler Terry McEvoy - Stephens Operator Good morning, and welcome to Byline Bancorp First Quarter 2023 Earnings Call. My name ...

FORM 10-K Non-accelerated filer ☐ Smaller reporting company ☐ Table of Contents PART III Item 10. Directors, Executive Officers and Corporate Governance 131 Item 11. Executive Compensation 132 Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 132 Item 13. Certain Relationships and Related Transactions, and Director Independence 133 Item 14. Principal Accounting Fees and Services 133 i Statements contained in this Annual Report on Form 10-K and in other d ...