Byline Bancorp Files Q2 2024 10-Q
Ticker: BY · Form: 10-Q · Filed: Aug 5, 2024 · CIK: 1702750
Sentiment: neutral
Topics: 10-Q, financials, commercial-bank
TL;DR
Byline Bancorp's Q2 10-Q is in. Check financials.
AI Summary
Byline Bancorp, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter. Key financial data and disclosures are provided, reflecting the company's status as a commercial bank.
Why It Matters
This filing provides investors and analysts with a detailed look into Byline Bancorp's financial health and operational performance during the second quarter of 2024.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant negative events indicated.
Key Numbers
- Q2 2024 — Reporting Period (Financials are for the second quarter of 2024.)
- 2023-01-01 to 2023-06-30 — Prior Year Period (Comparison period for financial data.)
Key Players & Entities
- BYLINE BANCORP, INC. (company) — Filer of the 10-Q
- 0000950170-24-090900 (filing_id) — Accession number for the filing
- 20240630 (date) — End of the reporting period
- 20240805 (date) — Date the filing was made
- 6022 (sic_code) — Standard Industrial Classification for Commercial Banks
- 773-244-7000 (phone_number) — Company phone number
- 180 NORTH LASALLE STREET, SUITE 300 (address) — Company's business address
- CHICAGO (city) — Company's business city
- IL (state) — Company's business state
- 60601 (zip_code) — Company's business zip code
FAQ
What is the primary business of Byline Bancorp, Inc. according to the SIC code?
The Standard Industrial Classification (SIC) code 6022 indicates that Byline Bancorp, Inc. is in the business of State Commercial Banks.
When was this 10-Q filing submitted to the SEC?
This 10-Q filing was submitted on August 5, 2024.
What is the reporting period covered by this 10-Q?
This 10-Q covers the period ending on June 30, 2024.
What is the company's mailing address?
The company's mailing address is 180 North LaSalle Street, Suite 300, Chicago, IL 60601.
What is the company's phone number?
The company's phone number is 773-244-7000.
Filing Stats: 4,366 words · 17 min read · ~15 pages · Grade level 17.4 · Accepted 2024-08-05 16:48:33
Key Financial Figures
- $0.01 — atest practicable date: Common Stock, $0.01 par value, 44,260,652 shares outstandin
Filing Documents
- by-20240630.htm (10-Q) — 10194KB
- by-ex31_1.htm (EX-31.1) — 12KB
- by-ex31_2.htm (EX-31.2) — 12KB
- by-ex32_1.htm (EX-32.1) — 14KB
- img62259353_0.jpg (GRAPHIC) — 35KB
- 0000950170-24-090900.txt ( ) — 38750KB
- by-20240630.xsd (EX-101.SCH) — 2898KB
- by-20240630_htm.xml (XML) — 11038KB
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 46 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 79 Item 4.
Controls and Procedures
Controls and Procedures 80 PART II. OTHER INFORMATION 81 Item 1.
Legal Proceedings
Legal Proceedings 81 Item 1A.
Risk Factors
Risk Factors 81 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 81 Item 3. Defaults Upon Senior Securities 81 Item 4. Mine Safety Disclosures 81 Item 5. Other Information 81 Item 6. Exhibits 82 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) June 30, 2024 December 31, 2023 ASSETS Cash and due from banks $ 68,251 $ 60,431 Interest bearing deposits with other banks 662,206 165,705 Cash and cash equivalents 730,457 226,136 Equity and other securities, at fair value 8,745 8,743 Securities available-for-sale, at fair value (amortized cost at June 30, 2024—$ 1,573,276 ; December 31, 2023—$ 1,516,801 ) 1,386,827 1,342,480 Securities held-to-maturity, at amortized cost (fair value at June 30, 2024—$ 601 ; December 31, 2023 —$ 1,149 ) 606 1,157 Restricted stock, at cost 31,775 16,304 Loans held for sale 13,360 18,005 Loans and leases: Loans and leases 6,891,204 6,684,306 Allowance for credit losses - loans and leases ( 99,730 ) ( 101,686 ) Net loans and leases 6,791,474 6,582,620 Servicing assets, at fair value 19,617 19,844 Premises and equipment, net 63,919 66,627 Goodwill and other intangible assets, net 200,788 203,478 Bank-owned life insurance 98,519 96,900 Deferred tax assets, net 48,888 50,058 Accrued interest receivable and other assets 238,840 249,615 Total assets $ 9,633,815 $ 8,881,967 LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES Non-interest-bearing demand deposits $ 1,762,891 $ 1,905,876 Interest-bearing deposits 5,584,290 5,271,123 Total deposits 7,347,181 7,176,999 Other borrowings 918,738 395,190 Subordinated notes, net 73,953 73,866 Junior subordinated debentures issued to capital trusts, net 70,675 70,452 Accrued interest payable and other liabilities 190,254 175,309 Total liabilities 8,600,801 7,891,816 COMMITMENTS AND CONTINGENT LIABILITIES (Note 14) STOCKHOLDERS' EQUITY Preferred stock — — Common stock 452