- Byline Bancorp, Inc. (BY, Financial) reported a net income of $28.2 million for Q1 2025, with diluted earnings per share of $0.64.
- Net interest income remained stable at $88.2 million, while non-interest income decreased by 8% quarter-over-quarter.
- The company completed its acquisition of First Security Bancorp, Inc., increasing total assets to approximately $9.9 billion.
Byline Bancorp, Inc. (BY) announced its financial results for the first quarter of 2025, highlighting a net income of $28.2 million, or $0.64 per diluted share. This represents a slight decline from the previous quarter, where net income was $30.3 million and diluted earnings per share were $0.69. The company reported its 10th consecutive quarter where pre-tax pre-provision return on average assets (PTPP ROAA) exceeded 2.00%, standing at 2.06% for Q1 2025.
Net interest income was nearly flat at $88.2 million compared to $88.5 million in the fourth quarter of 2024. However, non-interest income saw a decline, falling to $14.9 million from $16.1 million, largely due to a decrease in net gains on sales of loans, which dropped by 30.5% to $4.9 million. The company's efficiency ratio was slightly up at 53.66%, while the net interest margin expanded by six basis points to 4.07%.
Byline Bancorp completed its acquisition of First Security Bancorp, Inc. on April 1, 2025, increasing its total assets to approximately $9.9 billion, with loan and deposit balances rising to $7.2 billion and $7.8 billion respectively. The acquisition strengthens Byline's position as a leading commercial bank in the Chicago area, operating 46 branches across the Chicago and Milwaukee metropolitan areas.
Credit ratings agency Kroll Bond Rating Agency, LLC upgraded Byline Bancorp's credit ratings during the quarter, reflecting the company's robust financial standing. The board also declared a cash dividend of $0.10 per share, to be paid on May 20, 2025, to stockholders as of May 6, 2025.
