Byline Bancorp Files Q3 2024 10-Q
Ticker: BY · Form: 10-Q · Filed: Nov 1, 2024 · CIK: 1702750
Sentiment: neutral
Topics: 10-Q, financials, banking
TL;DR
**BYLINE BANCORP (BY) FILED Q3 2024 10-Q - FINANCIALS OUT NOW**
AI Summary
Byline Bancorp, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and position, including its assets, liabilities, and equity. Specific financial metrics and operational details are presented for the third quarter of 2024.
Why It Matters
This filing provides investors and analysts with a detailed look into Byline Bancorp's financial health and performance during the third quarter of 2024, crucial for understanding its current market standing.
Risk Assessment
Risk Level: medium — As a financial institution, Byline Bancorp is subject to various market, credit, and regulatory risks inherent in the banking sector.
Key Players & Entities
- BYLINE BANCORP, INC. (company) — Filer of the 10-Q
- 0000950170-24-120042 (other) — Accession Number for the filing
- 20240930 (date) — Period of report
- 20241101 (date) — Filing date
- 773-244-7000 (phone_number) — Company phone number
- 180 NORTH LASALLE STREET, SUITE 300 (address) — Company business address
- CHICAGO (city) — Company business address city
- IL (state) — Company business address state
- 60601 (zip_code) — Company business address zip code
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240930, indicating the third quarter of 2024.
When was this 10-Q filed with the SEC?
The filing date (FILED AS OF DATE) is 20241101.
What is the primary business of Byline Bancorp, Inc. according to the SIC code?
The Standard Industrial Classification (SIC) code is 6022, which corresponds to 'STATE COMMERCIAL BANKS'.
What is the company's main phone number listed in the filing?
The company's business phone number is 773-244-7000.
Where is Byline Bancorp, Inc. headquartered?
The company's business address is 180 NORTH LASALLE STREET, SUITE 300, CHICAGO, IL 60601.
Filing Stats: 4,323 words · 17 min read · ~14 pages · Grade level 18.2 · Accepted 2024-11-01 16:03:02
Key Financial Figures
- $0.01 — atest practicable date: Common Stock, $0.01 par value, 44,385,204 shares outstandin
Filing Documents
- by-20240930.htm (10-Q) — 10352KB
- by-ex31_1.htm (EX-31.1) — 12KB
- by-ex31_2.htm (EX-31.2) — 12KB
- by-ex32_1.htm (EX-32.1) — 14KB
- img62262236_0.jpg (GRAPHIC) — 35KB
- 0000950170-24-120042.txt ( ) — 39594KB
- by-20240930.xsd (EX-101.SCH) — 2933KB
- by-20240930_htm.xml (XML) — 11203KB
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 10 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 47 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 80 Item 4.
Controls and Procedures
Controls and Procedures 81 PART II. OTHER INFORMATION 82 Item 1.
Legal Proceedings
Legal Proceedings 82 Item 1A.
Risk Factors
Risk Factors 82 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 82 Item 3. Defaults Upon Senior Securities 82 Item 4. Mine Safety Disclosures 82 Item 5. Other Information 82 Item 6. Exhibits 83 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) September 30, 2024 December 31, 2023 ASSETS Cash and due from banks $ 77,047 $ 60,431 Interest bearing deposits with other banks 375,549 165,705 Cash and cash equivalents 452,596 226,136 Equity and other securities, at fair value 9,132 8,743 Securities available-for-sale, at fair value (amortized cost at September 30, 2024—$ 1,635,419 ; December 31, 2023—$ 1,516,801 ) 1,502,108 1,342,480 Securities held-to-maturity, at amortized cost (fair value at September 30, 2024—$ 603 ; December 31, 2023 —$ 1,149 ) 605 1,157 Restricted stock, at cost 22,743 16,304 Loans held for sale 19,955 18,005 Loans and leases: Loans and leases 6,879,446 6,684,306 Allowance for credit losses - loans and leases ( 98,860 ) ( 101,686 ) Net loans and leases 6,780,586 6,582,620 Servicing assets, at fair value 18,945 19,844 Premises and equipment, net 63,135 66,627 Goodwill and other intangible assets, net 199,443 203,478 Bank-owned life insurance 99,295 96,900 Deferred tax assets, net 37,737 50,058 Accrued interest receivable and other assets 218,036 249,615 Total assets $ 9,424,316 $ 8,881,967 LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES Non-interest-bearing demand deposits $ 1,729,908 $ 1,905,876 Interest-bearing deposits 5,767,979 5,271,123 Total deposits 7,497,887 7,176,999 Other borrowings 518,786 395,190 Subordinated notes, net 73,997 73,866 Junior subordinated debentures issued to capital trusts, net 70,783 70,452 Accrued interest payable and other liabilities 166,551 175,309 Total liabilities 8,328,004 7,891,816 COMMITMENTS AND CONTINGENT LIABILITIES (Note 14) STOCKHOLDERS' EQUITY Preferred stock — — Commo