Byline Bancorp Enters Material Agreement, Incurs Financial Obligation
Ticker: BY · Form: 8-K · Filed: May 30, 2024 · CIK: 1702750
Sentiment: neutral
Topics: material-agreement, financial-obligation
Related Tickers: BYLN
TL;DR
BYLN just signed a big deal and took on debt, filing shows.
AI Summary
Byline Bancorp, Inc. announced on May 24, 2024, the entry into a material definitive agreement and the creation of a direct financial obligation. The filing does not specify the nature of the agreement or the financial obligation, but it is a significant event requiring disclosure.
Why It Matters
This filing indicates a significant financial event for Byline Bancorp, potentially impacting its balance sheet and future operations.
Risk Assessment
Risk Level: medium — The nature of the material definitive agreement and the direct financial obligation are not detailed, creating uncertainty about the associated risks.
Key Players & Entities
- BYLINE BANCORP, INC. (company) — Registrant
- May 24, 2024 (date) — Date of earliest event reported
- 773-244-7000 (phone_number) — Registrant's Telephone Number
- 180 North LaSalle Street, Suite 300 (address) — Principal Executive Offices
- Chicago, Illinois (location) — Principal Executive Offices City and State
FAQ
What is the nature of the material definitive agreement entered into by Byline Bancorp, Inc.?
The filing does not specify the details of the material definitive agreement.
What is the specific financial obligation incurred by Byline Bancorp, Inc.?
The filing states the creation of a direct financial obligation but does not provide specific details about its nature or amount.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on May 24, 2024.
What is the principal executive office address for Byline Bancorp, Inc.?
The principal executive offices are located at 180 North LaSalle Street, Suite 300, Chicago, Illinois.
What is the IRS Employer Identification Number for Byline Bancorp, Inc.?
The IRS Employer Identification Number is 36-3012593.
Filing Stats: 590 words · 2 min read · ~2 pages · Grade level 10 · Accepted 2024-05-30 07:30:11
Key Financial Figures
- $15,000,000 — olving line-of-credit facility of up to $15,000,000, and (2) extending its maturity date to
Filing Documents
- by-20240524.htm (8-K) — 56KB
- by-ex10_1.htm (EX-10.1) — 31KB
- 0000950170-24-066249.txt ( ) — 212KB
- by-20240524.xsd (EX-101.SCH) — 31KB
- by-20240524_htm.xml (XML) — 5KB
01
Item 1.01. Entry into a Material Definitive Agreement. As previously disclosed, on May 26, 2023, Byline Bancorp, Inc. (the "Company") entered into a Second Amended and Restated Term Loan and Revolving Credit Agreement with CIBC Bank USA (the "Lender"). On May 24, 2024, the Company entered into the First Amendment to the Second Amended and Restated Term Loan and Revolving Credit Agreement (the "Amendment") with the Lender, which is effective May 26, 2024, and provides for (1) the renewal of the revolving line-of-credit facility of up to $15,000,000, and (2) extending its maturity date to May 25, 2025. The foregoing description of the Amendment is only a brief summary and is qualified in its entirety by the complete terms of the Amendment, a copy of which is filed as Exhibit 10.1 to this current report on Form 8-K and incorporated by reference herein.
03
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The disclosure set forth in Item 1.01 above is incorporated herein by reference.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 First Amendment to Second Amended and Restated Term Loan and Revolving Credit Agreement, dated May 24, 2024, but effective May 26, 2024, by and between Byline Bancorp, Inc. and CIBC Bank USA 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BYLINE BANCORP, INC. Date: May 30, 2024 By: /s/ Robert R. Herencia Name: Roberto R. Herencia Title: Executive Chairman and CEO 3