Byline Bancorp, Inc. Files 10-Q for Period Ending March 31, 2024
Ticker: BY · Form: 10-Q · Filed: May 3, 2024 · CIK: 1702750
Sentiment: neutral
Topics: 10-Q, Byline Bancorp, Financials, Loan Portfolio, Securities
TL;DR
<b>Byline Bancorp, Inc. has filed its Q1 2024 10-Q report, detailing financial performance and portfolio composition.</b>
AI Summary
BYLINE BANCORP, INC. (BY) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. Byline Bancorp, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing includes data related to various loan and securities portfolios, including Commercial Real Estate, Residential, and Asset-Backed Securities. Specific segments mentioned include Commercial Real Estate, Residential Portfolio, Finance Leases, and Commercial and Industrial. Data points cover periods such as March 31, 2024, December 31, 2023, and March 31, 2023. The report references financial instruments like Fixed Interest Rate Swaps and Asset-Backed Securities.
Why It Matters
For investors and stakeholders tracking BYLINE BANCORP, INC., this filing contains several important signals. This 10-Q filing provides a detailed look into Byline Bancorp's financial health and operational segments for the first quarter of 2024, crucial for investors assessing performance and risk. The specific data on loan portfolios, securities, and financial instruments offers insights into the company's risk exposure and strategic asset allocation.
Risk Assessment
Risk Level: medium — BYLINE BANCORP, INC. shows moderate risk based on this filing. The company's exposure to various loan segments, including Commercial Real Estate and nonperforming loans, suggests potential market and credit risks.
Analyst Insight
Investors should analyze the detailed breakdown of loan portfolios and risk factors in the 10-Q to understand Byline Bancorp's current financial standing and future outlook.
Key Numbers
- 2024-03-31 — Reporting Period End Date (10-Q filing)
- 2023-12-31 — Previous Period End Date (Comparative data)
- 2023-03-31 — Prior Year Period End Date (Comparative data)
Key Players & Entities
- BYLINE BANCORP, INC. (company) — Filer name
- BY (company) — Ticker symbol
- 10-Q (filing) — Form type
- 2024-03-31 (date) — Reporting period end date
- 2024-05-03 (date) — Filing date
- CHICAGO (location) — Business address city
- 773-244-7000 (phone) — Business phone number
FAQ
When did BYLINE BANCORP, INC. file this 10-Q?
BYLINE BANCORP, INC. filed this Quarterly Report (10-Q) with the SEC on May 3, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by BYLINE BANCORP, INC. (BY).
Where can I read the original 10-Q filing from BYLINE BANCORP, INC.?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by BYLINE BANCORP, INC..
What are the key takeaways from BYLINE BANCORP, INC.'s 10-Q?
BYLINE BANCORP, INC. filed this 10-Q on May 3, 2024. Key takeaways: Byline Bancorp, Inc. filed a 10-Q report for the period ending March 31, 2024.. The filing includes data related to various loan and securities portfolios, including Commercial Real Estate, Residential, and Asset-Backed Securities.. Specific segments mentioned include Commercial Real Estate, Residential Portfolio, Finance Leases, and Commercial and Industrial..
Is BYLINE BANCORP, INC. a risky investment based on this filing?
Based on this 10-Q, BYLINE BANCORP, INC. presents a moderate-risk profile. The company's exposure to various loan segments, including Commercial Real Estate and nonperforming loans, suggests potential market and credit risks.
What should investors do after reading BYLINE BANCORP, INC.'s 10-Q?
Investors should analyze the detailed breakdown of loan portfolios and risk factors in the 10-Q to understand Byline Bancorp's current financial standing and future outlook. The overall sentiment from this filing is neutral.
Risk Factors
- Loan Portfolio Risk [medium — financial]: The company holds various loan portfolios, including Commercial Real Estate, Residential, and Finance Leases, with specific mentions of nonperforming and credit-deteriorated assets.
- Securities Exposure [medium — market]: The filing references Asset-Backed Securities and Agency Securities, indicating exposure to market fluctuations in these investment types.
Key Dates
- 2024-03-31: Period End Date — End of the first quarter of 2024.
- 2024-05-03: Filing Date — Date the 10-Q was officially submitted to the SEC.
Glossary
- Commercial Real Estate Portfolio Segment
- A segment of the company's loan portfolio focused on commercial real estate properties. (Indicates a significant area of the company's lending business and associated risks.)
- Nonperforming Financing Receivable
- A financing receivable for which the debtor is not making payments as agreed. (A key indicator of credit quality and potential loan losses.)
- Asset-Backed Securities
- Securities whose value and income payments are derived from and collateralized or 'backed' by a specified pool of underlying assets. (Represents investments that are subject to the performance of the underlying assets.)
Filing Stats: 4,303 words · 17 min read · ~14 pages · Grade level 17.4 · Accepted 2024-05-03 16:37:01
Key Financial Figures
- $0.01 — atest practicable date: Common Stock, $0.01 par value, 44,124,124 shares outstandin
Filing Documents
- by-20240331.htm (10-Q) — 8251KB
- by-ex31_1.htm (EX-31.1) — 12KB
- by-ex31_2.htm (EX-31.2) — 12KB
- by-ex32_1.htm (EX-32.1) — 14KB
- img62256471_0.jpg (GRAPHIC) — 35KB
- 0000950170-24-052982.txt ( ) — 35401KB
- by-20240331.xsd (EX-101.SCH) — 2915KB
- by-20240331_htm.xml (XML) — 10221KB
Financial Statements. The Unaudited Interim Condensed Consolidated Financial Statements of Byline Bancorp, Inc
Financial Statements. The Unaudited Interim Condensed Consolidated Financial Statements of Byline Bancorp, Inc. 3 Notes to Unaudited Interim Condensed Consolidated Financial Statements 9 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 44 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 72 Item 4.
Controls and Procedures
Controls and Procedures 73 PART II. OTHER INFORMATION 74 Item 1.
Legal Proceedings
Legal Proceedings 74 Item 1A.
Risk Factors
Risk Factors 74 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 74 Item 3. Defaults Upon Senior Securities 74 Item 4. Mine Safety Disclosures 74 Item 5. Other Information 74 Item 6. Exhibits 75 2
– FINANC IAL INFORMATION
PART I – FINANC IAL INFORMATION
Financ ial Statements
Item 1. Financ ial Statements BYLINE BANCORP, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED) (dollars in thousands, except share data) March 31, 2024 December 31, 2023 ASSETS Cash and due from banks $ 58,640 $ 60,431 Interest bearing deposits with other banks 578,197 165,705 Cash and cash equivalents 636,837 226,136 Equity and other securities, at fair value 9,135 8,743 Securities available-for-sale, at fair value (amortized cost at March 31, 2024—$ 1,562,427 , December 31, 2023—$ 1,516,801 ) 1,379,147 1,342,480 Securities held-to-maturity, at amortized cost (fair value at March 31, 2024—$ 1,149 , December 31, 2023 —$ 1,149 ) 1,156 1,157 Restricted stock, at cost 22,793 16,304 Loans held for sale 23,568 18,005 Loans and leases: Loans and leases 6,778,214 6,684,306 Allowance for credit losses - loans and leases ( 102,366 ) ( 101,686 ) Net loans and leases 6,675,848 6,582,620 Servicing assets, at fair value 20,992 19,844 Premises and equipment, net 64,466 66,627 Goodwill and other intangible assets, net 202,133 203,478 Bank-owned life insurance 97,748 96,900 Deferred tax assets, net 53,029 50,058 Accrued interest receivable and other assets 223,651 249,615 Total assets $ 9,410,503 $ 8,881,967 LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES Non-interest-bearing demand deposits $ 1,851,727 $ 1,905,876 Interest-bearing deposits 5,498,475 5,271,123 Total deposits 7,350,202 7,176,999 Other borrowings 721,173 395,190 Subordinated notes, net 73,909 73,866 Junior subordinated debentures issued to capital trusts, net 70,567 70,452 Accrued interest payable and other liabilities 185,603 175,309 Total liabilities 8,401,454 7,891,816 COMMITMENTS AND CONTINGENT LIABILITIES (Note 14) STOCKHOLDERS' EQUITY Preferred stock — — Common stock