Byline Bank

Byline Bank is a bank headquartered in Chicago. It is the primary subsidiary of Byline Bancorp, Inc., a bank holding company. As of December 31, 2019, it operated 57 branches, 56 of which were in the Chicago metropolitan area. It is the 4th largest Small Business Administration lender.[1]

Byline Bancorp, Inc.
TypePublic company
NYSE: BY
Russell 2000 Index component
IndustryBanking
Founded1978 (1978)
Headquarters
Number of locations
57 branches
Area served
Chicago metropolitan area
Brookfield, Wisconsin
Key people
Alberto J. Paracchini, President & 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)
Websitewww.bylinebank.com
Footnotes / references
[1]

History

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, the company 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]

In 2015, the company was renamed Byline Bancorp Inc. and consolidated all its subsidiaries under the name Byline Bank.[6]

In 2016, the company acquired Ridgestone Bank.[7][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]

References

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