| Byline Bancorp, Inc. | |
| Type: | Public company |
| Traded As: | Russell 2000 Index component |
| Key People: | Roberto Herencia, Chairman Alberto Paracchini, CEO |
| Industry: | Banking |
| Location City: | Chicago, Illinois, U.S. |
| Locations: | 57 branches |
| Revenue: | $216 million (2019) |
| Net Income: | $57 million (2019) |
| Assets: | $5.521 billion (2019) |
| Equity: | $750 million (2019) |
| Num Employees: | 1,001 (2019) |
| Footnotes: | [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., it operated 57 branches, 56 of which were in the Chicago metropolitan area. It is the 4th largest Small Business Administration lender.[1]
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 2007–2008 financial crisis.[3]
In 2009, it accepted $71.5 million from the Troubled Asset Relief Program.[2] [4] [5] In 2013, BXM Holdings LLC, led by Roberto Herencia, 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. in 2015 and consolidated all its subsidiaries under the name Byline Bank.[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 merger agreement and acquired Inland Bank valued at approximately $165 million in cash and stock[14] - the merger was completed in July 2023.[15]