Byline Bank is a bank headquartered in Chicago, Illinois, United States. It is the primary subsidiary of Byline Bancorp, Inc., a bank holding company. As of 31 December 2019[update], it operated 57 branches, 56 of which were in the Chicago metropolitan area. It is the 4th largest Small Business Administration lender.[1]
Company type | Public company |
---|---|
NYSE: BY Russell 2000 Index component | |
Industry | Banking |
Founded | 1978 |
Headquarters | |
Number of locations | 57 branches |
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] |
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 financial crisis of 2007-08.[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]