Form 8-K - Current report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): January 23, 2025

BYLINE BANCORP, INC.

(Exact Name of Registrant as Specified in Its Charter)

Delaware

(State or Other Jurisdiction

of Incorporation)



001-38139		36-3012593
(Commission File Number)		(I.R.S. Employer Identification No.)

180 North LaSalle Street, Suite 300
Chicago, Illinois		60601
(Address of Principal Executive Offices)		(Zip Code)

(773) 244-7000

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):


☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock	BY	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

     
Item 2.02.

Results of Operations and Financial Condition.

On January 23, 2025, Byline Bancorp, Inc., (“Byline" or the "Company”) issued a press release announcing its financial results for the fourth quarter ended December 31, 2024. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference.

On January 23, 2025, the Company made available on its website a slide presentation regarding the Company’s fourth quarter 2024 financial results, which will be used as part of a publicly accessible conference call on January 24, 2025. A copy of the slide presentation is attached as Exhibit 99.2 and is incorporated herein by reference.

The information included in Item 2.02 this Current Report on Form 8-K (including the information in the attached exhibits 99.1 and 99.2) is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in any such filing.


Item 9.01.	Financial Statements and Exhibits.

(d) Exhibits.



Exhibit No.	Description

99.1		Fourth Quarter 2024 financial results press release, dated January 23, 2025
99.2		Slide Presentation regarding fourth quarter 2024 financial results
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of the U.S. federal securities laws. Forward-looking statements include, without limitation, statements concerning plans, estimates, calculations, forecasts and projections with respect to the anticipated future performance of the Company. These statements are often, but not always, made through the use of words or phrases such as ‘‘may’’, ‘‘might’’, ‘‘should’’, ‘‘could’’, ‘‘predict’’, ‘‘potential’’, ‘‘believe’’, ‘‘expect’’, ‘‘continue’’, ‘‘will’’, ‘‘anticipate’’, ‘‘seek’’, ‘‘estimate’’, ‘‘intend’’, ‘‘plan’’, ‘‘projection’’, ‘‘would’’, ‘‘annualized’’, “target” and ‘‘outlook’’, or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. Forward-looking statements involve estimates and known and unknown risks, and reflect various assumptions and involve elements of subjective judgment and analysis, which may or may not prove to be correct, and which are subject to uncertainties and contingencies outside the control of Byline and its respective affiliates, directors, employees and other representatives, which could cause actual results to differ materially from those presented in this communication.

No representations, warranties or guarantees are or will be made by Byline as to the reliability, accuracy or completeness of any forward-looking statements contained in this communication or that such forward-looking statements are or will remain based on reasonable assumptions. You should not place undue reliance on any forward-looking statements contained in this communication.

Certain risks and important factors that could affect Byline’s future results are identified in our Annual Report on Form 10-K and other reports we file with the Securities and Exchange Commission, including among other things under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2023. Any forward-looking statement speaks only as of the date on which it is made, and Byline undertakes no obligation to update any forward-looking statement, whether to reflect events or circumstances after the date on which the statement is made, to reflect new information or the occurrence of unanticipated events, or otherwise unless required under the federal securities laws.

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: January 23, 2025	By:	/s/ Roberto R. Herencia
	Name:	Roberto R. Herencia
	Title:	Executive Chairman and Chief Executive Officer

Exhibit 99.1

Byline Bancorp, Inc. Reports Fourth Quarter and Full Year 2024 Financial Results

Fourth quarter net income of $30.3 million, $0.69 diluted earnings per share

Full year net income of $120.8 million, $2.75 diluted earnings per share

Chicago, IL, January 23, 2025 – Byline Bancorp, Inc. (NYSE: BY), today reported:


			At or For the quarter					Full Year Highlights (compared to prior year)
		4Q24		3Q24		4Q23		Full Year Highlights (compared to prior year)
Financial Results ($ in thousands)								• Net income increased $12.9 million, or 11.9%
	Net interest income	$	88,524	$	87,455	$	86,285
	Non-interest income		16,149		14,385		14,503	• Net interest income up $17.4 million,
	Total revenue(1)		104,673		101,840		100,788	or 5.3%; NIM of 3.97%
	Non-interest expense (NIE)		57,431		54,327		53,584
	Pre-tax pre-provision net income (PTPP)(1)		47,242		47,513		47,204	• PTPP net income of $188.1 million(1), up 6.1%
	Provision for credit losses		6,878		7,475		7,235
	Provision for income taxes		10,044		9,710		10,365	• NIE/AA: 2.38%, down 22 bps
	Net Income	$	30,320	$	30,328	$	29,604
								• Total assets of $9.5 billion, an increase of
Per Share								$614.6 million, or 6.9%
	Diluted earnings per share (EPS)	$	0.69	$	0.69	$	0.68
	Dividends declared per common share		0.09		0.09		0.09	• TBV per share of $20.09(1), up 11.7%
	Book value per share		24.55		24.70		22.62
	Tangible book value (TBV) per share(1)		20.09		20.21		17.98	4Q24 Highlights
								(compared to prior quarter)
Balance Sheet & Credit Quality ($ in thousands)								• Net interest income of $88.5 million, an
	Total deposits	$	7,458,628	$	7,497,887	$	7,176,999	increase of $1.1 million, or 1.2%
	Total loans and leases		6,910,022		6,899,401		6,702,311
	Net charge-offs		7,792		8,467		12,186	• NIM of 4.01%, up 13 bps
	Allowance for credit losses (ACL)		97,988		98,860		101,686
	ACL to total loans and leases held for investment		1.42%		1.44%		1.52%	• Non-interest income of $16.1 million, an
								increase of $1.8 million, or 12.3%
Select Ratios (annualized where applicable)
	Efficiency ratio(1)		53.58%		52.02%		51.63%	• PTPP net income of $47.2 million(1)
	Return on average assets (ROAA)		1.31%		1.29%		1.34%
	Return on average stockholders' equity		11.03%		11.39%		12.56%	• PTPP ROAA of 2.04%(1), 9th consecutive
	Return on average tangible common equity(1)		13.92%		14.49%		16.68%	quarter greater than 2.00%
	Net interest margin (NIM)		4.01%		3.88%		4.08%
	Common equity to total assets		11.49%		11.63%		11.15%	• NPA/total assets 0.71%, down 4 bps
	Tangible common equity to tangible assets(1)		9.61%		9.72%		9.06%
	Common equity tier 1		11.70%		11.35%		10.35%	• CET1 of 11.70%, up 35 bps

    CEO/President Commentary

   

    Roberto R. Herencia, Executive Chairman and CEO of Byline Bancorp, commented, "We continued to execute our strategy of becoming the preeminent commercial bank in Chicago throughout 2024, characterized by delivering record full-year financial results, adding new banking talent, attracting new commercial customers to the Bank and executing our M&A strategy with our pending acquisition of First Security Bancorp, Inc. As we enter 2025, we are committed to advancing our strategy, strengthening our franchise, and creating lasting value for our stockholders."
Alberto J. Paracchini, President of Byline Bancorp, added, "Our results in the fourth quarter, highlighted by strong earnings and profitability, cap off a successful 2024, underscoring the momentum we’ve built and our commitment to driving long-term value. Our business units performed well during the year, and we’re pleased with our progress and excited about the opportunities ahead. We believe we are well positioned to support our continued growth and I want to thank all our employees who enabled our strong performance for their dedication, talent and contributions."

(1)

Represents non-GAAP financial measures. See “Reconciliation of non-GAAP Financial Measures” for a reconciliation to the most directly comparable GAAP financial measure.

Byline Bancorp, Inc.

Page 2 of 15

Board Declares Cash Dividend of $0.10 per Share

On January 21, 2025, the Company's Board of Directors declared a cash dividend of $0.10 per share which represents an 11.1% increase from the previous quarterly dividend of $0.09 per share. The dividend will be paid on February 18, 2025, to stockholders of record of the Company's common stock as of February 4, 2025.

STATEMENTS OF OPERATIONS HIGHLIGHTS

Net Interest Income

Quarterly results

Net interest income for the fourth quarter of 2024 was $88.5 million, an increase of $1.1 million, or 1.2%, from the third quarter of 2024. The increase in net interest income was primarily due to decreases in interest expense on deposits and interest expense on other borrowings primarily due to the lower interest rate environment. These were offset by decreases in interest and fees on loans and leases primarily due to lower yields as a result of the lower interest rate environment.

Tax-equivalent net interest margin(1) for the fourth quarter of 2024 was 4.02%, an increase of 13 basis points compared to the third quarter of 2024. Net loan accretion income positively contributed 12 basis points to the net interest margin for the current quarter compared to 13 basis points for the prior quarter.

The average cost of total deposits was 2.48% for the fourth quarter of 2024, a decrease of 28 basis points compared to the third quarter of 2024, as a result of lower rates paid on interest bearing deposits. Average non-interest-bearing demand deposits were 23.8% of average total deposits for the current quarter compared to 23.2% during the prior quarter.

Full-year results

Net interest income for the year ended December 31, 2024 was $348.0 million, an increase of $17.4 million, or 5.3%, for the year ended December 31, 2023. The increase in net interest income was primarily due to increases in interest and dividend income due to growth in the loan and lease portfolio, offset by increases in deposit interest expense due to growth in the deposit base.

Tax-equivalent net interest margin(1) for the year ended December 31, 2024 was 3.98%, a decrease of 34 basis points compared to 4.32% the year ended December 31, 2023. Net loan accretion income positively contributed 15 basis points to the net interest margin during 2024 compared to 22 basis points during 2023.

The average cost of total deposits was 2.61% for the year ended December 31, 2024, an increase of 71 basis points compared to the year ended December 31, 2023, as a result of deposit growth, shift in deposit mix, and higher average rates paid on time deposits and money market accounts. Average non-interest-bearing demand deposits were 24.4% of average total deposits for the year ended December 31, 2024 compared to 30.7% during the prior year.

Provision for Credit Losses

Quarterly results

The provision for credit losses was $6.9 million for the fourth quarter of 2024, a decrease of $597,000 compared to $7.5 million for the third quarter of 2024, mainly attributed to decreases in non-performing loans and leases. The provision for credit losses for the quarter is comprised of a provision for loan and lease losses of $6.9 million compared to $7.6 million in the third quarter of 2024, and a recapture of the provision for unfunded commitments of $42,000 compared to $122,000 in the third quarter of 2024.

Full-year results

The provision for credit losses was $27.0 million for the year ended December 31, 2024, a decrease of $4.6 million compared to $31.7 million for the year ended December 31, 2023, mainly attributable to lower non-performing loans and leases, and no day one provision resulting from acquisition accounting. The provision for credit losses for the current year was comprised of a provision for loan and lease losses of $28.3 million compared to $32.2 million in the prior year, and a recapture of the provision for unfunded commitments of $1.2 million compared to $567,000 in the prior year.

(1) Represents non-GAAP financial measures. See “Reconciliation of non-GAAP Financial Measures” for a reconciliation of our non-GAAP measures to the most directly comparable GAAP financial measure.

Byline Bancorp, Inc.

Page 3 of 15

Non-interest Income

Quarterly results

Non-interest income for the fourth quarter of 2024 was $16.1 million, an increase of $1.8 million, or 12.3%, compared to $14.4 million for the third quarter of 2024. The increase in total non-interest income was primarily due to increases in net gains on sales of loans, and increased net loan servicing income. The increase in net gains on sales of loans was primarily due to higher volumes and premiums.

Net gains on sales of loans were $7.1 million for the current quarter, an increase of $1.2 million, or 21.2% compared to the prior quarter. During the fourth quarter of 2024, we sold $88.9 million of U.S. government guaranteed loans compared to $79.5 million during the third quarter of 2024.

Full-year results

Non-interest income for the year ended December 31, 2024 was $58.9 million, an increase of $2.5 million, or 4.5%, compared to $56.3 million for the year ended December 31, 2023. The increase in total non-interest income was primarily due to increases in other non-interest income due to increased swap fee activity and increases in net gains on sales of loans due to higher premiums; offset by lower net loan servicing income.

Net gains on sales of loans were $24.5 million for the year ended December 31, 2024, an increase of $1.7 million or 7.6% compared to the prior year. During the year ended December 31, 2024, we sold $314.8 million of U.S. government guaranteed loans compared to $348.4 million during the prior year.

Non-interest Expense

Quarterly results

Non-interest expense for the fourth quarter of 2024 was $57.4 million, an increase of $3.1 million, or 5.7%, compared to $54.3 million for the third quarter of 2024. The increase in non-interest expense was mainly due to increases in salaries and employee benefits and net loss recognized on other real estate owned and other related expenses. The increases in salaries and employee benefits were due to higher incentive and equity-based compensation expense, and enhancements to our employee benefits. The increase in net loss recognized on other real estate owned and other related expenses due to additions to the other real estate owned portfolio.

Our efficiency ratio was 53.58% for the fourth quarter of 2024 compared to 52.02% for the third quarter of 2024, an increase of 156 basis points. Our adjusted efficiency ratio was 53.37%(1) for the fourth quarter of 2024 compared to 51.62%(1) for the third quarter of 2024, an increase of 175 basis points.

Full-year results

Non-interest expense for the year ended December 31, 2024 was $218.8 million, an increase of $9.2 million, or 4.4%, compared to $209.6 million for the year ended December 31, 2023. The increase in non-interest expense was mainly due to increased salaries and employee benefits, due to higher salaries and incentives; partially offset by lower data processing expenses due to merger-related data processing expenses incurred during 2023.

Our efficiency ratio was 52.45% for the year ended December 31, 2024 compared to 52.62% for the year ended December 31, 2023, a decrease of 17 basis points. Our adjusted efficiency ratio was 52.24%(1) for the year ended December 31, 2024 compared to 49.61%(1) for the year ended December 31, 2023, an increase of 263 basis points.

Income Taxes

Quarterly results

We recorded income tax expense of $10.0 million during the fourth quarter of 2024, compared to $9.7 million during the third quarter of 2024. The effective tax rates were 24.9% and 24.3% for the fourth quarter of 2024 and third quarter of 2024, respectively. The increase in the effective tax rate was due to income tax benefits related to share-based compensation taken in the third quarter.

Full-year results

We recorded income tax expense of $40.3 million during the year ended December 31, 2024, compared to $37.8 million during the year ended December 31, 2023. The effective tax rates were 25.0% and 25.9% for the current year and prior year, respectively. The decrease in the effective tax rate was due to higher income tax benefits related to share-based compensation.

Byline Bancorp, Inc.

Page 4 of 15

STATEMENTS OF FINANCIAL CONDITION HIGHLIGHTS

Assets

Total assets were $9.5 billion as of December 31, 2024, an increase of $72.2 million, or 0.8%, compared to $9.4 billion at September 30, 2024, and an increase of $614.6 million from $8.9 billion as of December 31, 2023.

The increase for the current quarter was mainly due to an increase in cash and cash equivalents of $110.5 million, primarily due to higher FHLB advances, offset by decreases in securities available-for-sale of $86.4 million.

The increase for the current year was mainly due to an increase in cash and cash equivalents of $337.0 million due to higher FHLB advances, an increase in net loans and leases of $226.2 million due to organic growth, and an increase in securities available-for-sale of $73.2 million due to purchases of securities.

Asset and Credit Quality

The ACL was $98.0 million as of December 31, 2024, a decrease of $872,000, or 0.9%, from $98.9 million at September 30, 2024, mainly due to net charge-offs. The ACL decreased $3.7 million from $101.7 million as of December 31, 2023, primarily due to lower provision for credit losses and higher charge-offs during 2024 compared to 2023.

Net charge-offs of loans and leases during the fourth quarter of 2024 were $7.8 million, or 0.45% of average loans and leases, on an annualized basis. This was a decrease of $675,000 compared to net charge-offs of $8.5 million, or 0.49% of average loans and leases, during the third quarter of 2024. The decrease for the quarter was primarily due to higher recoveries compared to the prior quarter.

Net charge-offs of loans and leases during the year ended December 31, 2024 were $32.0 million, or 0.47% of average loans and leases, an increase of $8.9 million, compared to $23.1 million, or 0.38% of average loans and leases, during the year ended December 31, 2023. The increase for the current year was due to resolution of several non-performing loans.

Non-performing assets were $67.2 million, or 0.71% of total assets, as of December 31, 2024, a decrease of $3.8 million from $71.0 million, or 0.75% of total assets, at September 30, 2024. The decrease was primarily in non-accrual conventional loans due to active resolutions. The government guaranteed portion of non-performing loans included in non-performing assets was $9.9 million at December 31, 2024 compared to $11.3 million at September 30, 2024, a decrease of $1.5 million.

Non-performing assets increased $1.9 million compared to December 31, 2023, primarily due to increases in other real estate owned. The government guaranteed portion of non-performing loans included in non-performing assets at December 31, 2024 increased $5.7 million compared to $4.1 million at December 31, 2023.

Deposits and Other Liabilities

Total deposits decreased $39.3 million to $7.5 billion at December 31, 2024 compared to $7.5 billion at September 30, 2024, and increased $281.6 million from $7.2 billion at December 31, 2023. The decrease in deposits in the current quarter was due to decreases in time deposits, offset by increases in money market demand accounts. The increase in deposits for the full year was primarily due to increased money market demand accounts and interest bearing checking accounts.

Total borrowings and other liabilities were $946.4 million at December 31, 2024, an increase of $116.3 million from $830.1 million at September 30, 2024, and an increase of $231.6 million compared to $714.8 million at December 31, 2023. The increases were primarily driven by increased FHLB advances.

Stockholders’ Equity

Total stockholders’ equity was $1.1 billion at December 31, 2024, a decrease of $4.8 million, or 0.4%, from September 30, 2024, primarily due to an increase in accumulated other comprehensive loss, offset by increases to retained earnings from net income. Total stockholders' equity increased by $101.3 million, or 10.2% compared to $990.2 million at December 31, 2023, primarily due to retained earnings from net income.

Byline Bancorp, Inc.

Page 5 of 15

Conference Call, Webcast and Slide Presentation

We will host a conference call and webcast at 9:00 a.m. Central Time on Friday, January 24, 2025, to discuss our quarterly financial results. Analysts and investors may participate in the question-and-answer session. The call can be accessed via telephone at (833) 470-1428; passcode 861322. A recorded replay can be accessed through February 7, 2025, by dialing (866) 813-9403; passcode: 409178.

A slide presentation relating to our fourth quarter 2024 results will be accessible prior to the conference call. The slide presentation and webcast of the conference call can be accessed on our investor relations website at www.bylinebancorp.com.

About Byline Bancorp, Inc.

Headquartered in Chicago, Byline Bancorp, Inc. is the parent company of Byline Bank, a full service commercial bank serving small- and medium-sized businesses, financial sponsors, and consumers. Byline Bank has approximately $9.5 billion in assets and operates 46 branch locations throughout the Chicago and Milwaukee metropolitan areas. Byline Bank offers a broad range of commercial and community banking products and services including small ticket equipment leasing solutions and is one of the top Small Business Administration lenders in the United States.

Forward-Looking Statements

Contacts:

    Investors / Media:

   

    Brooks Rennie

   

    Investor Relations Director

   

    312-660-5805

   

    brennie@bylinebank.com

   

Byline Bancorp, Inc.

Page 6 of 15

BYLINE BANCORP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (unaudited)



	December 31,			September 30,			December 31,
(dollars in thousands)	2024			2024			2023
ASSETS
Cash and due from banks	$	58,759		$	77,047		$	60,431
Interest bearing deposits with other banks		504,379			375,549			165,705
Cash and cash equivalents		563,138			452,596			226,136
Equity and other securities, at fair value		9,865			9,132			8,743
Securities available-for-sale, at fair value		1,415,696			1,502,108			1,342,480
Securities held-to-maturity, at amortized cost		605			605			1,157
Restricted stock, at cost		27,452			22,743			16,304
Loans held for sale		3,200			19,955			18,005
Loans and leases:
Loans and leases		6,906,822			6,879,446			6,684,306
Allowance for credit losses - loans and leases		(97,988	)		(98,860	)		(101,686	)
Net loans and leases		6,808,834			6,780,586			6,582,620
Servicing assets, at fair value		18,952			18,945			19,844
Premises and equipment, net		60,502			63,135			66,627
Other real estate owned, net		5,170			532			1,200
Goodwill and other intangible assets, net		198,098			199,443			203,478
Bank-owned life insurance		100,083			99,295			96,900
Deferred tax assets, net		56,458			37,737			50,058
Accrued interest receivable and other assets		228,476			217,504			248,415
Total assets	$	9,496,529		$	9,424,316		$	8,881,967
LIABILITIES AND STOCKHOLDERS’ EQUITY
LIABILITIES
Non-interest-bearing demand deposits	$	1,756,098		$	1,729,908		$	1,905,876
Interest-bearing deposits		5,702,530			5,767,979			5,271,123
Total deposits		7,458,628			7,497,887			7,176,999
Other borrowings		618,773			518,786			395,190
Subordinated notes, net		74,040			73,997			73,866
Junior subordinated debentures issued to capital trusts, net		70,890			70,783			70,452
Accrued expenses and other liabilities		182,701			166,551			175,309
Total liabilities		8,405,032			8,328,004			7,891,816
STOCKHOLDERS’ EQUITY
Common stock		455			454			451
Additional paid-in capital		717,763			714,864			710,488
Retained earnings		533,901			507,576			429,036
Treasury stock		(46,935	)		(47,904	)		(49,707	)
Accumulated other comprehensive loss, net of tax		(113,687	)		(78,678	)		(100,117	)
Total stockholders’ equity		1,091,497			1,096,312			990,151
Total liabilities and stockholders’ equity	$	9,496,529		$	9,424,316		$	8,881,967

Byline Bancorp, Inc.

Page 7 of 15

BYLINE BANCORP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)


	Three Months Ended									Year Ended
(dollars in thousands,	December 31,			September 30,			December 31,			December 31,			December 31,
except per share data)	2024			2024			2023			2024			2023
INTEREST AND DIVIDEND INCOME
Interest and fees on loans and leases	$	123,702		$	128,336		$	124,042		$	502,353		$	440,984
Interest on securities		11,710			11,260			9,227			43,218			30,801
Other interest and dividend income		4,191			6,840			2,345			20,358			7,693
Total interest and dividend income		139,603			146,436			135,614			565,929			479,478
INTEREST EXPENSE
Deposits		46,725			52,076			43,252			192,366			121,436
Other borrowings		1,466			3,919			3,051			13,669			17,161
Subordinated notes and debentures		2,888			2,986			3,026			11,848			10,260
Total interest expense		51,079			58,981			49,329			217,883			148,857
Net interest income		88,524			87,455			86,285			348,046			330,621
PROVISION FOR CREDIT LOSSES		6,878			7,475			7,235			27,041			31,653
Net interest income after provision for credit losses		81,646			79,980			79,050			321,005			298,968
NON-INTEREST INCOME
Fees and service charges on deposits		2,648			2,591			2,486			10,214			9,211
Loan servicing revenue		3,151			3,174			3,377			12,905			13,503
Loan servicing asset revaluation		(1,350	)		(2,183	)		(1,234	)		(6,704	)		(5,089	)
ATM and interchange fees		1,083			1,143			1,082			4,464			4,462
Net realized losses on securities available-for-sale		(699	)		—			—			(699	)		—
Change in fair value of equity securities, net		732			388			841			1,122			1,071
Net gains on sales of loans		7,107			5,864			5,480			24,540			22,805
Wealth management and trust income		1,110			1,101			1,256			4,310			4,158
Other non-interest income		2,367			2,307			1,215			8,699			6,194
Total non-interest income		16,149			14,385			14,503			58,851			56,315
NON-INTEREST EXPENSE
Salaries and employee benefits		37,281			34,974			31,974			140,119			126,979
Occupancy and equipment expense, net		4,407			4,373			4,346			18,703			18,508
Impairment charge on assets held for sale		—			—			1,980			—			2,000
Loan and lease related expenses		660			703			649			2,789			2,936
Legal, audit, and other professional fees		3,358			3,643			2,352			13,428			12,946
Data processing		4,473			4,215			4,982			16,869			19,509
Net loss recognized on other real estate owned and other related expenses		654			74			89			568			385
Other intangible assets amortization expense		1,345			1,345			1,550			5,380			6,011
Other non-interest expense		5,253			5,000			5,662			20,921			20,329
Total non-interest expense		57,431			54,327			53,584			218,777			209,603
INCOME BEFORE PROVISION FOR INCOME TAXES		40,364			40,038			39,969			161,079			145,680
PROVISION FOR INCOME TAXES		10,044			9,710			10,365			40,320			37,802
NET INCOME	$	30,320		$	30,328		$	29,604		$	120,759		$	107,878
EARNINGS PER COMMON SHARE
Basic	$	0.69		$	0.70		$	0.69		$	2.78		$	2.69
Diluted	$	0.69		$	0.69		$	0.68		$	2.75		$	2.67

Byline Bancorp, Inc.

Page 8 of 15

BYLINE BANCORP, INC. AND SUBSIDIARIES

SELECTED FINANCIAL DATA (unaudited)


	As of or For the Three Months Ended									As of or For the Year Ended
(dollars in thousands, except share	December 31,			September 30,			December 31,			December 31,			December 31,
and per share data)	2024			2024			2023			2024			2023
Earnings per Common Share
Basic earnings per common share	$	0.69		$	0.70		$	0.69		$	2.78		$	2.69
Diluted earnings per common share	$	0.69		$	0.69		$	0.68		$	2.75		$	2.67
Adjusted diluted earnings per common share(1)(3)	$	0.69		$	0.70		$	0.73		$	2.76		$	2.89
Weighted average common shares outstanding (basic)		43,656,793			43,516,006			43,065,294			43,448,856			40,045,208
Weighted average common shares outstanding (diluted)		44,179,818			43,966,189			43,537,778			43,853,939			40,445,553
Common shares outstanding		44,459,584			44,384,706			43,764,056			44,459,584			43,764,056
Cash dividends per common share	$	0.09		$	0.09		$	0.09		$	0.36		$	0.36
Dividend payout ratio on common stock		13.04	%		13.04	%		13.24	%		13.09	%		13.48	%
Book value per common share	$	24.55		$	24.70		$	22.62		$	24.55		$	22.62
Tangible book value per common share(1)	$	20.09		$	20.21		$	17.98		$	20.09		$	17.98
Key Ratios and Performance Metrics (annualized where applicable)
Net interest margin		4.01	%		3.88	%		4.08	%		3.97	%		4.31	%
Net interest margin, fully taxable equivalent (1)(4)		4.02	%		3.89	%		4.09	%		3.98	%		4.32	%
Average cost of deposits		2.48	%		2.76	%		2.42	%		2.61	%		1.90	%
Efficiency ratio(1)(2)		53.58	%		52.02	%		51.63	%		52.45	%		52.62	%
Adjusted efficiency ratio(1)(2)(3)		53.37	%		51.62	%		48.64	%		52.24	%		49.61	%
Non-interest income to total revenues(1)		15.43	%		14.13	%		14.39	%		14.46	%		14.55	%
Non-interest expense to average assets		2.48	%		2.31	%		2.42	%		2.38	%		2.60	%
Adjusted non-interest expense to average assets(1)(3)		2.47	%		2.29	%		2.28	%		2.37	%		2.46	%
Return on average stockholders' equity		11.03	%		11.39	%		12.56	%		11.61	%		12.50	%
Adjusted return on average stockholders' equity(1)(3)		11.10	%		11.53	%		13.50	%		11.68	%		13.53	%
Return on average assets		1.31	%		1.29	%		1.34	%		1.31	%		1.34	%
Adjusted return on average assets(1)(3)		1.32	%		1.30	%		1.44	%		1.32	%		1.45	%
Pre-tax pre-provision return on average assets(1)		2.04	%		2.02	%		2.13	%		2.05	%		2.20	%
Adjusted pre-tax pre-provision return on average assets(1)(3)		2.05	%		2.03	%		2.27	%		2.06	%		2.35	%
Return on average tangible common stockholders' equity(1)		13.92	%		14.49	%		16.68	%		14.85	%		16.46	%
Adjusted return on average tangible common stockholders' equity(1)(3)		14.02	%		14.67	%		17.89	%		14.94	%		17.76	%
Non-interest-bearing deposits to total deposits		23.54	%		23.07	%		26.56	%		23.54	%		26.56	%
Loans and leases held for sale and loans and lease held for investment to total deposits		92.64	%		92.02	%		93.39	%		92.64	%		93.39	%
Deposits to total liabilities		88.74	%		90.03	%		90.94	%		88.74	%		90.94	%
Deposits per branch	$	162,144		$	162,998		$	149,521		$	162,144		$	149,521
Asset Quality Ratios
Non-performing loans and leases to total loans and leases held for investment, net before ACL		0.90	%		1.02	%		0.96	%		0.90	%		0.96	%
Total non-performing assets as a percentage of total assets		0.71	%		0.75	%		0.74	%		0.71	%		0.74	%
ACL to total loans and leases held for investment, net before ACL		1.42	%		1.44	%		1.52	%		1.42	%		1.52	%
Net charge-offs to average total loans and leases held for investment, net before ACL - loans and leases		0.45	%		0.49	%		0.73	%		0.47	%		0.38	%
Capital Ratios
Common equity to total assets		11.49	%		11.63	%		11.15	%		11.49	%		11.15	%
Tangible common equity to tangible assets(1)		9.61	%		9.72	%		9.06	%		9.61	%		9.06	%
Leverage ratio		11.74	%		11.18	%		10.86	%		11.74	%		10.86	%
Common equity tier 1 capital ratio		11.70	%		11.35	%		10.35	%		11.70	%		10.35	%
Tier 1 capital ratio		12.73	%		12.39	%		11.39	%		12.73	%		11.39	%
Total capital ratio		14.74	%		14.41	%		13.38	%		14.74	%		13.38	%

(1) Represents a non-GAAP financial measure. See “Reconciliation of non-GAAP Financial Measures” for a reconciliation of our non-GAAP measures to the most directly comparable GAAP financial measure.

(2) Represents non-interest expense less amortization of intangible assets divided by net interest income and non-interest income.

(3) Calculation excludes merger-related expenses and impairment charges on ROU assets.

(4) Interest income and rates include the effects of a tax equivalent adjustment to adjust tax exempt investment income on tax exempt investment securities to a fully taxable basis, assuming a federal income tax rate of 21%.

Byline Bancorp, Inc.

Page 9 of 15

BYLINE BANCORP, INC. AND SUBSIDIARIES

QUARTER-TO-DATE STATEMENT OF AVERAGE INTEREST-EARNING ASSETS AND AVERAGE INTEREST-BEARING LIABILITIES (unaudited)


	For the Three Months Ended
	December 31, 2024								September 30, 2024								December 31, 2023
(dollars in thousands)	Average Balance(5)			Interest Inc / Exp		Avg. Yield / Rate			Average Balance(5)			Interest Inc / Exp		Avg. Yield / Rate			Average Balance(5)			Interest Inc / Exp		Avg. Yield / Rate
ASSETS
Cash and cash equivalents	$	272,409		$	2,721		3.97	%	$	468,852		$	5,771		4.90	%	$	201,862		$	1,822		3.58	%
Loans and leases(1)		6,828,128			123,702		7.21	%		6,827,726			128,336		7.48	%		6,632,827			124,042		7.42	%
Taxable securities		1,529,134			12,317		3.20	%		1,508,987			11,467		3.02	%		1,389,580			8,848		2.53	%
Tax-exempt securities(2)		155,505			1,093		2.80	%		156,085			1,091		2.78	%		163,608			1,142		2.77	%
Total interest-earning assets	$	8,785,176		$	139,833		6.33	%	$	8,961,650		$	146,665		6.51	%	$	8,387,877		$	135,854		6.43	%
Allowance for credit losses - loans and leases		(100,281	)							(101,001	)							(106,474	)
All other assets		516,740								513,200								506,233
TOTAL ASSETS	$	9,201,635							$	9,373,849							$	8,787,636
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits
Interest checking	$	717,222		$	3,478		1.93	%	$	754,586		$	4,439		2.34	%	$	570,706		$	2,335		1.62	%
Money market accounts		2,480,805			19,951		3.20	%		2,386,909			21,371		3.56	%		2,159,841			18,730		3.44	%
Savings		486,262			130		0.11	%		495,541			190		0.15	%		560,372			208		0.15	%
Time deposits		2,020,225			23,166		4.56	%		2,134,587			26,076		4.86	%		1,861,279			21,979		4.68	%
Total interest-bearing deposits		5,704,514			46,725		3.26	%		5,771,623			52,076		3.59	%		5,152,198			43,252		3.33	%
Other borrowings		301,959			1,466		1.93	%		474,498			3,919		3.29	%		395,711			3,051		3.06	%
Subordinated notes and debentures		144,853			2,888		7.93	%		144,702			2,986		8.21	%		144,230			3,026		8.32	%
Total borrowings		446,812			4,354		3.88	%		619,200			6,905		4.44	%		539,941			6,077		4.47	%
Total interest-bearing liabilities	$	6,151,326		$	51,079		3.30	%	$	6,390,823		$	58,981		3.67	%	$	5,692,139		$	49,329		3.44	%
Non-interest-bearing demand deposits		1,777,273								1,741,250								1,950,644
Other liabilities		179,011								182,148								209,656
Total stockholders’ equity		1,094,025								1,059,628								935,197
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	9,201,635							$	9,373,849							$	8,787,636
Net interest spread(3)							3.03	%							2.84	%							2.99	%
Net interest income, fully taxable equivalent				$	88,754							$	87,684							$	86,525
Net interest margin, fully taxable equivalent(2)(4)							4.02	%							3.89	%							4.09	%
Less: Tax-equivalent adjustment					230		0.01	%					229		0.01	%					240		0.01	%
Net interest income				$	88,524							$	87,455							$	86,285
Net interest margin(4)							4.01	%							3.88	%							4.08	%

Net loan accretion impact on margin				$	2,590		0.12	%				$	2,982		0.13	%				$	5,110		0.24	%

(1) Loan and lease balances are net of deferred origination fees and costs and initial direct costs. Non-accrual loans and leases are included in total loan and lease balances.

(2) Interest income and rates include the effects of a tax equivalent adjustment to adjust tax exempt investment income on tax exempt investment securities to a fully taxable basis, assuming a federal income tax rate of 21%.

(3) Represents the average rate earned on interest-earning assets minus the average rate paid on interest-bearing liabilities.

(4) Represents net interest income (annualized) divided by total average earning assets.

(5) Average balances are average daily balances.

Byline Bancorp, Inc.

Page 10 of 15

BYLINE BANCORP, INC. AND SUBSIDIARIES

YEAR-TO-DATE STATEMENT OF AVERAGE INTEREST-EARNING ASSETS AND AVERAGE INTEREST-BEARING LIABILITIES (unaudited)


	For the Year Ended
	December 31, 2024								December 31, 2023
(dollars in thousands)	Average Balance(4)			Interest Inc / Exp		Average Yield / Rate			Average Balance(4)			Interest Inc / Exp		Average Yield / Rate
ASSETS
Cash and cash equivalents	$	346,777		$	15,635		4.51	%	$	157,754		$	5,029		3.19	%
Loans and leases(1)		6,786,547			502,353		7.40	%		6,038,797			440,984		7.30	%
Taxable securities		1,483,640			44,476		3.00	%		1,322,379			30,068		2.27	%
Tax-exempt securities(2)		157,050			4,386		2.79	%		158,918			4,300		2.71	%
Total interest-earning assets	$	8,774,014		$	566,850		6.46	%	$	7,677,848		$	480,381		6.26	%
Allowance for credit losses - loans and leases		(101,695	)							(98,067	)
All other assets		515,023								468,550
TOTAL ASSETS	$	9,187,342							$	8,048,331
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits
Interest checking	$	695,156		$	14,442		2.08	%	$	574,335		$	9,212		1.60	%
Money market accounts		2,344,309			80,960		3.45	%		1,802,675			53,933		2.99	%
Savings		506,889			711		0.14	%		585,820			883		0.15	%
Time deposits		2,024,942			96,253		4.75	%		1,468,836			57,408		3.91	%
Total interest-bearing deposits		5,571,296			192,366		3.45	%		4,431,666			121,436		2.74	%
Other borrowings		442,364			13,648		3.09	%		484,984			17,125		3.53	%
Federal funds purchased		348			21		6.05	%		685			36		5.30	%
Subordinated notes and debentures		144,624			11,848		8.19	%		127,825			10,260		8.03	%
Total borrowings		587,336			25,517		4.34	%		613,494			27,421		4.47	%
Total interest-bearing liabilities	$	6,158,632		$	217,883		3.54	%	$	5,045,160		$	148,857		2.95	%
Non-interest-bearing demand deposits		1,802,258								1,965,663
Other liabilities		185,937								174,416
Total stockholders’ equity		1,040,515								863,092
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	9,187,342							$	8,048,331
Net interest spread(3)							2.92	%							3.31	%
Net interest income, fully taxable equivalent				$	348,967							$	331,524
Net interest margin, fully taxable equivalent(2)(4)							3.98	%							4.32	%
Less: Tax-equivalent adjustment					921		0.01	%					903		0.01	%
Net interest income				$	348,046							$	330,621
Net interest margin(4)							3.97	%							4.31	%

Net loan accretion impact on margin				$	13,511		0.15	%				$	16,726		0.22	%

(1) Loan and lease balances are net of deferred origination fees and costs and initial direct costs. Non-accrual loans and leases are included in total loan and lease balances.

(3) Represents the average rate earned on interest-earning assets minus the average rate paid on interest-bearing liabilities.

(4) Average balances are average daily balances.

Byline Bancorp, Inc.

Page 11 of 15

BYLINE BANCORP, INC. AND SUBSIDIARIES

SELECTED BALANCE SHEET TABLES AND FINANCIAL RATIOS (unaudited)

The following table presents our allocation of originated, purchased credit deteriorated (PCD), and acquired non-credit-deteriorated loans and leases at the dates indicated:


	December 31, 2024						September 30, 2024						December 31, 2023
(dollars in thousands)	Amount			% of Total			Amount			% of Total			Amount			% of Total
Originated loans and leases:
Commercial real estate	$	2,071,952			30.0	%	$	2,040,072			29.7	%	$	1,907,029			28.5	%
Residential real estate		513,422			7.4	%		497,034			7.2	%		465,133			7.0	%
Construction, land development, and other land		429,596			6.2	%		415,636			6.0	%		415,162			6.2	%
Commercial and industrial		2,509,083			36.3	%		2,476,177			36.0	%		2,311,563			34.6	%
Installment and other		3,847			0.1	%		3,839			0.1	%		2,919			0.0	%
Leasing financing receivables		715,899			10.4	%		711,233			10.3	%		665,239			10.0	%
Total originated loans and leases	$	6,243,799			90.4	%	$	6,143,991			89.3	%	$	5,767,045			86.3	%
Purchased credit deteriorated loans:
Commercial real estate	$	82,934			1.2	%	$	95,240			1.4	%	$	137,807			2.1	%
Residential real estate		30,515			0.4	%		31,362			0.5	%		42,510			0.6	%
Construction, land development, and other land		—			0.0	%		4			0.0	%		25,331			0.4	%
Commercial and industrial		14,081			0.2	%		14,526			0.2	%		19,460			0.3	%
Installment and other		105			0.0	%		110			0.0	%		125			0.0	%
Total purchased credit deteriorated loans	$	127,635			1.8	%	$	141,242			2.1	%	$	225,233			3.4	%
Acquired non-credit-deteriorated loans and leases:
Commercial real estate	$	199,531			2.9	%	$	227,035			3.3	%	$	275,476			4.1	%
Residential real estate		182,165			2.6	%		181,976			2.6	%		211,887			3.2	%
Construction, land development, and other land		59,673			0.9	%		84,172			1.2	%		86,344			1.3	%
Commercial and industrial		93,969			1.4	%		100,852			1.5	%		117,538			1.7	%
Installment and other		14			0.0	%		32			0.0	%		156			0.0	%
Leasing financing receivables		36			0.0	%		146			0.0	%		627			0.0	%
Total acquired non-credit-deteriorated loans and leases	$	535,388			7.8	%	$	594,213			8.6	%	$	692,028			10.3	%
Total loans and leases	$	6,906,822			100.0	%	$	6,879,446			100.0	%	$	6,684,306			100.0	%
Allowance for credit losses - loans and leases		(97,988	)					(98,860	)					(101,686	)
Total loans and leases, net of allowance for credit losses - loans and leases	$	6,808,834					$	6,780,586					$	6,582,620

The following table presents the balance and activity within the allowance for credit losses - loans and lease for the periods indicated:


	Three Months Ended									Year Ended
	December 31,			September 30,			December 31,			December 31,			December 31,
(dollars in thousands)	2024			2024			2023			2024			2023
ACL - loans and leases, beginning of period	$	98,860		$	99,730		$	105,696		$	101,686		$	81,924
Adjustment for acquired PCD loans		—			—			—			—			10,596
Provision for credit losses - loans and leases		6,920			7,597			8,176			28,286			32,220
Net charge-offs - loans and leases		(7,792	)		(8,467	)		(12,186	)		(31,984	)		(23,054	)
ACL - loans and leases, end of period	$	97,988		$	98,860		$	101,686		$	97,988		$	101,686
Net charge-offs - loans and leases to average total loans and leases held for investment, net before ACL		0.45	%		0.49	%		0.73	%		0.47	%		0.38	%
Provision for credit losses - loans and leases to net charge-offs - loans and leases during the period		0.89	x		0.90	x		0.67	x		0.88	x		1.40	x

Byline Bancorp, Inc.

Page 12 of 15

BYLINE BANCORP, INC. AND SUBSIDIARIES

SELECTED BALANCE SHEET TABLES AND FINANCIAL RATIOS (unaudited)

The following table presents the amounts of non-performing loans and leases and other real estate owned at the date indicated:


										December 31, 2024
										Change from
(dollars in thousands)	December 31, 2024			September 30, 2024			December 31, 2023			September 30, 2024			December 31, 2023
Non-performing assets:
Non-accrual loans and leases	$	62,076		$	70,507		$	64,107			(12.0	)%		(3.2	)%
Past due loans and leases 90 days or more and still accruing interest		—			—			—		—%			—%
Total non-performing loans and leases	$	62,076		$	70,507		$	64,107			(12.0	)%		(3.2	)%
Other real estate owned		5,170			532			1,200			871.2	%		330.7	%
Total non-performing assets	$	67,246		$	71,039		$	65,307			(5.3	)%		3.0	%
Total non-performing loans and leases as a percentage of total loans and leases		0.90	%		1.02	%		0.96	%
Total non-performing assets as a percentage of total assets		0.71	%		0.75	%		0.74	%
Allowance for credit losses - loans and lease as a percentage of non-performing loans and leases		157.85	%		140.21	%		158.62	%

Non-performing assets guaranteed by U.S. government:
Non-accrual loans guaranteed	$	9,862		$	11,332		$	4,154			(13.0	)%		137.4	%
Past due loans 90 days or more and still accruing interest guaranteed		—			—			—		—%			—%
Total non-performing loans guaranteed	$	9,862		$	11,332		$	4,154			(13.0	)%		137.4	%
Total non-performing loans and leases not guaranteed as a percentage of total loans and leases		0.76	%		0.86	%		0.90	%
Total non-performing assets not guaranteed as a percentage of total assets		0.60	%		0.63	%		0.69	%

The following table presents the composition of deposits at the dates indicated:


							December 31, 2024
							Change from
(dollars in thousands)	December 31, 2024		September 30, 2024		December 31, 2023		September 30, 2024			December 31, 2023
Non-interest-bearing demand deposits	$	1,756,098	$	1,729,908	$	1,905,876		1.5	%		(7.9	)%
Interest-bearing checking accounts		767,835		749,721		577,609		2.4	%		32.9	%
Money market demand accounts		2,518,157		2,426,522		2,266,030		3.8	%		11.1	%
Other savings		483,650		489,618		542,532		(1.2	)%		(10.9	)%
Time deposits (below $250,000)		1,498,277		1,639,658		1,520,082		(8.6	)%		(1.4	)%
Time deposits ($250,000 and above)		434,611		462,460		364,870		(6.0	)%		19.1	%
Total deposits	$	7,458,628	$	7,497,887	$	7,176,999		(0.5	)%		3.9	%

Byline Bancorp, Inc.

Page 13 of 15

BYLINE BANCORP, INC. AND SUBSIDIARIES

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (unaudited)

Non-GAAP Financial Measures

This release contains certain financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America (“GAAP”). These measures include adjusted net income, adjusted diluted earnings per share, adjusted efficiency ratio, adjusted non-interest expense to average assets, tax-equivalent net interest margin, total revenue, non-interest income to total revenues, adjusted return on average stockholders’ equity, adjusted return on average assets, pre-tax pre-provision return on average assets, adjusted pre-tax pre-provision return on average assets, tangible book value per common share, tangible common equity to tangible assets, return on average tangible common stockholders' equity, and adjusted return on average tangible common stockholders' equity. Management believes that these non-GAAP financial measures provide useful information to management and investors that is supplementary to the Company’s financial condition, results of operations and cash flows computed in accordance with GAAP; however, management acknowledges that our non-GAAP financial measures have a number of limitations. As such, these disclosures should not be viewed as a substitute for results determined in accordance with GAAP financial measures that we and other companies use. Management also uses these measures for peer comparison. See below in the financial schedules included in this press release for a reconciliation of the non-GAAP financial measures to the comparable GAAP financial measures. Additionally, please refer to the Company’s Annual Report on Form 10-K for the detailed definitions of these non-GAAP financial measures.


	As of or For the Three Months Ended									As of or For the Year Ended
	December 31,			September 30,			December 31,			December 31,			December 31,
(dollars in thousands, except per share data)	2024			2024			2023			2024			2023
Net income and earnings per share excluding significant items:
Reported Net Income	$	30,320		$	30,328		$	29,604		$	120,759		$	107,878
Significant items:
Impairment charges on assets held for sale and ROU assets		—			—			1,981			194			2,395
Merger-related expenses		218			411			1,035			629			9,222
Tax benefit		(1	)		(32	)		(793	)		(85	)		(2,696	)
Adjusted Net Income	$	30,537		$	30,707		$	31,827		$	121,497		$	116,799
Reported Diluted Earnings per Share	$	0.69		$	0.69		$	0.68		$	2.75		$	2.67
Significant items:
Impairment charges on assets held for sale and ROU assets		—			—			0.05			—			0.06
Merger-related expenses		—			0.01			0.02			0.01			0.23
Tax benefit		—			—			(0.02	)		—			(0.07	)
Adjusted Diluted Earnings per Share	$	0.69		$	0.70		$	0.73		$	2.76		$	2.89

Byline Bancorp, Inc.

Page 14 of 15

BYLINE BANCORP, INC. AND SUBSIDIARIES

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (continued) (unaudited)


	As of or For the Three Months Ended									As of or For the Year Ended
(dollars in thousands, except per share data,	December 31,			September 30,			December 31,			December 31,			December 31,
ratios annualized, where applicable)	2024			2024			2023			2024			2023
Adjusted non-interest expense:
Non-interest expense	$	57,431		$	54,327		$	53,584		$	218,777		$	209,603
Less: Impairment charges on assets held for sale and ROU assets		—			—			1,981			194			2,395
Less: Merger-related expenses		218			411			1,035			629			9,222
Adjusted non-interest expense	$	57,213		$	53,916		$	50,568		$	217,954		$	197,986
Adjusted non-interest expense excluding amortization of intangible assets:
Adjusted non-interest expense	$	57,213		$	53,916		$	50,568		$	217,954		$	197,986
Less: Amortization of intangible assets		1,345			1,345			1,550			5,380			6,011
Adjusted non-interest expense excluding amortization of intangible assets	$	55,868		$	52,571		$	49,018		$	212,574		$	191,975
Pre-tax pre-provision net income:
Pre-tax income	$	40,364		$	40,038		$	39,969		$	161,079		$	145,680
Add: Provision for credit losses		6,878			7,475			7,235			27,041			31,653
Pre-tax pre-provision net income	$	47,242		$	47,513		$	47,204		$	188,120		$	177,333
Adjusted pre-tax pre-provision net income:
Pre-tax pre-provision net income	$	47,242		$	47,513		$	47,204		$	188,120		$	177,333
Add: Impairment charges on assets held for sale and ROU assets		—			—			1,981			194			2,395
Add: Merger-related expenses		218			411			1,035			629			9,222
Adjusted pre-tax pre-provision net income	$	47,460		$	47,924		$	50,220		$	188,943		$	188,950
Tax equivalent net interest income:
Net interest income	$	88,524		$	87,455		$	86,285		$	348,046		$	330,621
Add: Tax-equivalent adjustment		230			229			240			921			903
Net interest income, fully taxable equivalent	$	88,754		$	87,684		$	86,525		$	348,967		$	331,524
Total revenue:
Net interest income	$	88,524		$	87,455		$	86,285		$	348,046		$	330,621
Add: Non-interest income		16,149			14,385			14,503			58,851		$	56,315
Total revenue	$	104,673		$	101,840		$	100,788		$	406,897		$	386,936
Tangible common stockholders' equity:
Total stockholders' equity	$	1,091,497		$	1,096,312		$	990,151		$	1,091,497		$	990,151
Less: Goodwill and other intangibles		198,098			199,443			203,478			198,098			203,478
Tangible common stockholders' equity	$	893,399		$	896,869		$	786,673		$	893,399		$	786,673
Tangible assets:
Total assets	$	9,496,529		$	9,424,316		$	8,881,967		$	9,496,529		$	8,881,967
Less: Goodwill and other intangibles		198,098			199,443			203,478			198,098			203,478
Tangible assets	$	9,298,431		$	9,224,873		$	8,678,489		$	9,298,431		$	8,678,489
Average tangible common stockholders' equity:
Average total stockholders' equity	$	1,094,025		$	1,059,628		$	935,197		$	1,040,515		$	863,092
Less: Average goodwill and other intangibles		198,697			200,091			204,191			200,740			180,717
Average tangible common stockholders' equity	$	895,328		$	859,537		$	731,006		$	839,775		$	682,375
Average tangible assets:
Average total assets	$	9,201,635		$	9,373,849		$	8,787,636		$	9,187,342		$	8,048,331
Less: Average goodwill and other intangibles		198,697			200,091			204,191			200,740			180,717
Average tangible assets	$	9,002,938		$	9,173,758		$	8,583,445		$	8,986,602		$	7,867,614
Tangible net income available to common stockholders:
Net income available to common stockholders	$	30,320		$	30,328		$	29,604		$	120,759		$	107,878
Add: After-tax intangible asset amortization		1,015			986			1,138			3,974			4,408
Tangible net income available to common stockholders	$	31,335		$	31,314		$	30,742		$	124,733		$	112,286
Adjusted tangible net income available to common stockholders:
Tangible net income available to common stockholders	$	31,335		$	31,314		$	30,742		$	124,733		$	112,286
Add: Impairment charges on assets held for sale and ROU assets		—			—			1,981			194			2,395
Add: Merger-related expenses		218			411			1,035			629			9,222
Add: Tax benefit on significant items		(1	)		(32	)		(793	)		(85	)		(2,696	)
Adjusted tangible net income available to common stockholders	$	31,552		$	31,693		$	32,965		$	125,471		$	121,207

Byline Bancorp, Inc.

Page 15 of 15

BYLINE BANCORP, INC. AND SUBSIDIARIES

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (continued) (unaudited)


	As of or For the Three Months Ended									As of or For the Year Ended
(dollars in thousands, except share and per share	December 31,			September 30,			December 31,			December 31,			December 31,
data, ratios annualized, where applicable)	2024			2024			2023			2024			2023
Pre-tax pre-provision return on average assets:
Pre-tax pre-provision net income	$	47,242		$	47,513		$	47,204		$	188,120		$	177,333
Average total assets		9,201,635			9,373,849			8,787,636			9,187,342			8,048,331
Pre-tax pre-provision return on average assets		2.04	%		2.02	%		2.13	%		2.05	%		2.20	%
Adjusted pre-tax pre-provision return on average assets:
Adjusted pre-tax pre-provision net income	$	47,460		$	47,924		$	50,220		$	188,943		$	188,950
Average total assets		9,201,635			9,373,849			8,787,636			9,187,342			8,048,331
Adjusted pre-tax pre-provision return on average assets		2.05	%		2.03	%		2.27	%		2.06	%		2.35	%
Net interest margin, fully taxable equivalent:
Net interest income, fully taxable equivalent	$	88,754		$	87,684		$	86,525		$	348,967		$	331,524
Total average interest-earning assets		8,785,176			8,961,650			8,387,877			8,774,014			7,677,848
Net interest margin, fully taxable equivalent		4.02	%		3.89	%		4.09	%		3.98	%		4.32	%
Non-interest income to total revenues:
Non-interest income	$	16,149		$	14,385		$	14,503		$	58,851		$	56,315
Total revenues		104,673			101,840			100,788			406,897			386,936
Non-interest income to total revenues		15.43	%		14.13	%		14.39	%		14.46	%		14.55	%
Adjusted non-interest expense to average assets:
Adjusted non-interest expense	$	57,213		$	53,916		$	50,568		$	217,954		$	197,986
Average total assets		9,201,635			9,373,849			8,787,636			9,187,342			8,048,331
Adjusted non-interest expense to average assets		2.47	%		2.29	%		2.28	%		2.37	%		2.46	%
Adjusted efficiency ratio:
Adjusted non-interest expense excluding amortization of intangible assets	$	55,868		$	52,571		$	49,018		$	212,574		$	191,975
Total revenues		104,673			101,840			100,788			406,897			386,936
Adjusted efficiency ratio		53.37	%		51.62	%		48.64	%		52.24	%		49.61	%
Adjusted return on average assets:
Adjusted net income	$	30,537		$	30,707		$	31,827		$	121,497		$	116,799
Average total assets		9,201,635			9,373,849			8,787,636			9,187,342			8,048,331
Adjusted return on average assets		1.32	%		1.30	%		1.44	%		1.32	%		1.45	%
Adjusted return on average stockholders' equity:
Adjusted net income	$	30,537		$	30,707		$	31,827		$	121,497		$	116,799
Average stockholders' equity		1,094,025			1,059,628			935,197			1,040,515			863,092
Adjusted return on average stockholders' equity		11.10	%		11.53	%		13.50	%		11.68	%		13.53	%
Tangible common equity to tangible assets:
Tangible common equity	$	893,399		$	896,869		$	786,673		$	893,399		$	786,673
Tangible assets		9,298,431			9,224,873			8,678,489			9,298,431			8,678,489
Tangible common equity to tangible assets		9.61	%		9.72	%		9.06	%		9.61	%		9.06	%
Return on average tangible common stockholders' equity:
Tangible net income available to common stockholders	$	31,335		$	31,314		$	30,742		$	124,733		$	112,286
Average tangible common stockholders' equity		895,328			859,537			731,006			839,775			682,375
Return on average tangible common stockholders' equity		13.92	%		14.49	%		16.68	%		14.85	%		16.46	%
Adjusted return on average tangible common stockholders' equity:
Adjusted tangible net income available to common stockholders	$	31,552		$	31,693		$	32,965		$	125,471		$	121,207
Average tangible common stockholders' equity		895,328			859,537			731,006			839,775			682,375
Adjusted return on average tangible common stockholders' equity		14.02	%		14.67	%		17.89	%		14.94	%		17.76	%
Tangible book value per share:
Tangible common equity	$	893,399		$	896,869		$	786,673		$	893,399		$	786,673
Common shares outstanding		44,459,584			44,384,706			43,764,056			44,459,584			43,764,056
Tangible book value per share	$	20.09		$	20.21		$	17.98		$	20.09		$	17.98

4Q24 Earnings Presentation Exhibit 99.2

Forward-Looking Statements Forward-Looking Statements This communication contains forward-looking statements within the meaning of the U.S. federal securities laws. Forward-looking statements include, without limitation, statements concerning plans, estimates, calculations, forecasts and projections with respect to the anticipated future performance of the Company. These statements are often, but not always, made through the use of words or phrases such as ‘‘may’’, ‘‘might’’, ‘‘should’’, ‘‘could’’, ‘‘predict’’, ‘‘potential’’, ‘‘believe’’, ‘‘expect’’, ‘‘continue’’, ‘‘will’’, ‘‘anticipate’’, ‘‘seek’’, ‘‘estimate’’, ‘‘intend’’, ‘‘plan’’, ‘‘projection’’, ‘‘would’’, ‘‘annualized’’, “target” and ‘‘outlook’’, or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. Forward-looking statements involve estimates and known and unknown risks, and reflect various assumptions and involve elements of subjective judgement and analysis, which may or may not prove to be correct, and which are subject to uncertainties and contingencies outside the control of Byline and its respective affiliates, directors, employees and other representatives, which could cause actual results to differ materially from those presented in this communication. No representations, warranties or guarantees are or will be made by Byline as to the reliability, accuracy or completeness of any forward-looking statements contained in this communication or that such forward-looking statements are or will remain based on reasonable assumptions. You should not place undue reliance on any forward-looking statements contained in this communication. Certain risks and important factors that could affect Byline’s future results are identified in our Annual Report on Form 10-K and other reports we file with the Securities and Exchange Commission, including among other things under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2023. Any forward-looking statement speaks only as of the date on which it is made, and Byline undertakes no obligation to update any forward-looking statement, whether to reflect events or circumstances after the date on which the statement is made, to reflect new information or the occurrence of unanticipated events, or otherwise unless required under the federal securities laws. Due to rounding, numbers presented throughout this document may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.

2024 Year in Review Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix. $406.9 million Revenue(1) $2.75 Diluted EPS 2.38% NIE/AA Delivered Successful 2024 Results Reported net income of $120.8 million, or diluted EPS of $2.75, on revenue(1) of $406.9 million Solid PTPP ROA(1) of 2.05%, ROA of 1.31%, ROTCE(1) of 14.85% Net interest margin of 3.97% Delivered full year loan growth of 3.1%, funded by high quality deposit base which grew 3.9% YoY Increased capital ratios with CET1 at 11.70% and TCE/TA(1) at 9.61%, demonstrating strengthened financial stability Tangible book value per share of $20.09, up 11.7% YoY 5.2% Y/Y 3% Y/Y Improved 22 bps Y/Y $1.1 billion Capital $7.5 billion Deposits $6.9 billion Loans and Leases 10.2% Y/Y 3.9% Y/Y 3.1% Y/Y

Fourth Quarter 2024 Highlights Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix. Annualized. Strong Financial Performance 11.70% Common Equity Tier 1 +12% Increase in Tangible Book Value / Share(1) Y/Y 4.01% Net Interest Margin(1) +12% Increase in Non-interest income 92.64% Loan / Deposit Ratio Net Income of $30.3 million; EPS of $0.69 Pre-Tax Pre-Provision income (1) of $47.2 million; Pre-Tax Pre-Provision ROAA(1) of 2.04% 9th consecutive quarter of PTPP ROAA exceeding 2.00% Net interest income of $88.5 million, up 1%  Revenue of $104.7 million, up 3% Building capital with CET1 growing to 11.70%, up 35 bps Net interest margin (FTE)(1) of 4.02% Loan and lease yields stood at 7.21%; average cost of deposits of 2.48% Stockholders' equity of $1.1 billion Efficiency ratio: 53.58% TCE/TA(1): 9.61% NPA/Total Assets: 0.71%, down 4 bps Total Capital ratio: 14.74%; up 33 bps 2.04% 2.05% Reported(1)(2) Adjusted(1)(2) 13.92% 14.02% Reported(1)(2) Adjusted(1)(2) ROTCE $0.69 $0.69 Reported Adjusted(1) 1.31% 1.32% Reported(2) Adjusted(1)(2) ROAA $30.3 million $30.5 million Reported Adjusted(1) 53.58% 53.37% Reported Adjusted(1) Efficiency Ratio Net Income Diluted EPS PTPP ROAA 4

Loan Portfolio Trends ($ in millions) Total Loan Portfolio and Average Yield Portfolio Composition Total loan portfolio stood at $6.9 billion, flat from 3Q24 Originated $297.2 million in new loans, net of loan sales in 4Q24 Production driven by commercial banking and leasing originations of $132.8 million and $68.7 million, respectively Payoff activity increased by $20.7 million from 3Q24 to $288 million Average loan yield of 7.21%, down 27 bps LQ and down 21 bps YoY, reflecting the impact of lower interest rates Cumulative Loan Beta(1): 48% Highlights Utilization Rates 58% LTM Average Originations and Payoffs Cumulative Loan Beta excluding loan accretion is calculated as the change in yield on loans and leases from 4Q21 to 4Q24 divided by the change in average Fed Funds from 4Q21 to 4Q24.

Deposit Trends ($ in millions) Total deposits were $7.5 billion, flat from 3Q24 Commercial deposits accounted for 45.0% of total deposits and represent 80.8% of all non-interest-bearing deposits Average cost of deposits decreased by 28 bps to 2.48% in 4Q24 Non-Interest-Bearing deposits remained stable at 23.5% Loan/Deposits ratio: 92.64%, down 75 bps YoY Deposit Composition Highlights 6.2% 5.8% Cost of Interest-Bearing Deposits Average Non-Interest-Bearing Deposits Loan to Deposit Ratio

Net Interest Income and Net Interest Margin Trends ($ in millions) Net interest income was $88.5 million, up 1.2% from 3Q24 Increase in NII driven by lower interest expense 4.01% net interest margin, up 13 basis points from 3Q24 Driven by reduced deposit costs Interest Rate Sensitivity Over a One-Year Time Horizon Rates -100 bps: ~$10 million or ~2.6% decline in NII or ~$2.5 million per 25 bps Ramp -100 bps: ~$8 million or ~2.3% decline in NII or ~$2.0 million per 25 bps Net Interest Income Highlights NIM Bridge NIM, Yields and Costs Repricing Mix $87.5 Million NII $88.5 Million NII

Non-Interest Income Trends ($ in millions) Government Guaranteed Loan Sales $88.9 million of guaranteed loans sold in 4Q24 Non-interest income was $16.1 million, up 12.3% from 3Q24 $7.1 million in gain on sale of loans sold, driven by higher volumes and premiums Non-interest income remained stable QoQ, excluding FV marks on loan servicing asset and equity securities Volume Sold and Average Net Premiums Total Non-Interest Income Highlights Net Gains on Sales of Loans

Non-Interest Expense Trends ($ in millions) (1) Non-interest expenses stood at $57.4 million, up 5.7% from 3Q24 and reflects: $2.3 million increase in salaries and employee benefits due to higher incentive and equity-based compensation expense, and enhancements to our employee benefits $1.0 million increase related to advertising and promotions NIE/AA: 2.48% Efficiency ratio stood at 53.58% at 4Q24 Adjusted efficiency ratio(1): 53.37% Efficiency Ratio Non-Interest Expense Highlights Non-Interest Expense Bridge Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix. ($0.9) ($0.2) $0.6 $2.3 $54.3 $57.4 $1.0 $0.3

Asset Quality Trends ($ in millions) Note: Delinquencies represent accruing loans and leases past due 30 days or more. Delinquencies to Total Loans and Leases represent delinquencies divided by period end loans and leases. Delinquencies Net Charge-offs NPLs / Total Loans & Leases Allowance for Credit Losses (ACL) Excluding Government Guaranteed loans, NPLs were 76 bps

Strong Liquidity and Securities Portfolio ($ in millions) Liquidity Position Cash and cash equivalents $563.1 million, up by $110.5 million from 3Q24 primarily due higher FHLB advances $1.4 billion AFS investment portfolio $1.9 billion of available borrowing capacity Uninsured Deposits stood at 30.0% Liquidity coverage of uninsured deposits ~102% as of quarter end Securities portfolio duration: 4.9 years; net of hedges: ~4.6 years Securities portfolio annual cash flow: ~$200 million Taxable securities yield of 3.20%, up 18 basis points from 3Q24 AOCI / TCE(1): ~12.7% Highlights AFS Portfolio by Type Securities + Cash (Average) Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix.

Strong Capital Position (1) Strong Capital Base Capital Ratios (1) Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix. Return on Average Tangible Common Equity Common Equity Tier 1 Capital Priorities: TCE operating target range(1) is between 8% and 9%: currently at 9.61% Increased capital ratios with CET1 at 11.70%, up 135 bps YoY $1.1 billion total stockholders’ equity Increased Q1 2025 cash dividend by $0.01, or 11.1% to $0.10 per common share 1. Fund Organic Growth 2. Dividend 3. M&A 4. Buyback

2025 Strategic Priorities Strengthening our position as the preeminent commercial bank in Chicago Stay Ahead of Regulatory Expectations Maintain Balance Sheet Strength Fortress level Capital Ratios: TCE CET1 Total RBC Strong liquidity profile $ Top Quartile Profitability Deposits, Deposits, Deposits…. Grow low cost, core deposits Actively Manage Risk Capitalize on Market Opportunities Industry consolidation is impacting community banks Continue to attract and develop talent in the organization Monitor portfolio to identify and resolve problems quickly Maintain disciplined focus on credit through the cycle aligned with our aggregate moderate-to-low risk appetite Dynamically operate through the interest rate environment Maintain top quartile profitability and continue to execute strategy Completing the First Security acquisition and providing a smooth transition for our new customers and colleagues Prepare for crossing the $10 billion threshold Driving higher net interest income, while managing net interest margin and asset sensitivity

Differentiated approach to grow loans and deposits organically in targeted market segments Maintain a strong balance sheet, ample capital flexibility and strong asset quality Continue to invest in digital capabilities to improve the customer experience and gain operational efficiencies Attract additional high-quality talent to the organization and pursue opportunistic M&A opportunities Generate consistently strong risk adjusted financial results for our stockholders Leverage all our capabilities to deepen share of wallet and acquire new customers A Clear Long-term Strategy Grow our Commercial Client Franchise Maintain Balance Sheet Strength Continue to Invest in the Business Capitalize on Market Opportunities Deliver Strong Financial Results Deepen Customer Relationships

Granular Deposit Base Consumer Deposits, $3.1 billion Commercial Deposits, $2.8 billion ~69% of Total Deposits are FDIC Insured …with limited concentration and granular customer base providing a stable source of funding Consumer Deposits(1) $4.0 billion at 12/31/24 Granular Deposit Base ~$30,000 Average Account Balance Customer Base ~123,000 Consumer Accounts Total Franchise 46 Branches Commercial Deposits $3.5 billion at 12/31/24 Granular Deposit Base ~$128,000 Average Account Balance Customer Base ~28,000 Commercial Accounts Consumer Deposits, $4.0 billion Commercial Deposits, $3.5 billion Uninsured 9% d Total Deposits $7.5 Billion as of 12/31/24 Core banking footprint in key urban MSAs in Wisconsin and a broad footprint in Chicago, IL A strength of our franchise is our well diversified deposit base… Excludes brokered deposits.

NOO Office Represents 2.3% of Total Loans Non-Owner Occupied CRE & Other(1) Portfolio ($ in millions) 12/31/24 Industrial / Warehouse $629.4 9.1% Multi-family 539.9 7.8% Retail 202.7 2.9% Office 160.7 2.3% Self-Storage 119.4 1.7% Other(2) 244.1 3.6% Total $1,896.2 27.4% % of Total Loans d Total Loans & Leases $6.9 Billion as of 12/31/24 NOO Office has decreased from 3.3% to 2.3% year-over-year Non-Owner Occupied CRE and Other Portfolio includes construction, land, multi-family and non-owner occupied (NOO). Represents sectors with less than 1% of the total portfolio.

Office CRE Portfolio: Diversified Tenants and Markets 12/31/24 9/30/24 Avg. Commitment $3.4 million $3.6 million ACL % 2.4% 2.2% NCO %(1) 0.58% 2.15% 30+ DLQ % 2.0% 5.2% NPL % 2.0% 3.8% Criticized % 19% 19% NCOs / Average loans represents net charge-offs to average loans for the last twelve-month period. Tenant Classification ($ in millions) 12/31/24 Illinois $98.2 North Carolina 24.1 Wisconsin 13.3 New Jersey 10.6 Ohio 8.1 Minnesota 3.2 New Mexico 2.1 West Virginia 1.1 Total Office $160.7 CRE Office: Geographic Mix by State Office Portfolio Metrics Office Portfolio Market Type

Unguaranteed Government-Guaranteed Exposure Represents 6.1% of Total Loans ($ in millions) (1) ($ in millions) $ Balance % of Portfolio Unguaranteed $385.5 5.6% Guaranteed 75.9 1.1% Total SBA 7(a) Loans $461.3 6.7% Unguaranteed $36.0 0.5% Guaranteed 20.5 0.3% Total USDA Loans $56.5 0.8% Unguaranteed Loan Portfolio by Industry One of the top SBA and USDA lenders in the United States Top Illinois SBA 7(a) lender for the 16th consecutive year Closed $127.5 million in SBC loan commitments in 4Q24 SBA 7(a) portfolio $461.3 million, up $12.4 million from 3Q24 ACL/Unguaranteed loan balance ~8.1% $1.7 billion in serviced government guaranteed loans for investors in 4Q24 Since 2016, the unguaranteed government-guaranteed exposure has decreased from 14.6% down to 6.1% in 2024 On Balance Sheet SBA 7(a) & USDA Loans SBA 7(a) & USDA Closed Loan Commitments Highlights Represents sectors with less than 5% of the total portfolio. $129.2 $108.3 $82.3 $111.4 $121.7

Projected Acquisition Accounting Accretion Projected Accretion(1) ($ in millions) Projections are updated quarterly, assumes no prepayments and are subject to change.

Financial Summary Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix. As of or For the Three Months Ended As of or For the Year Ended (dollars in thousands, except per share data) December 31, September 30, December 31, December 31, December 31, 2024 2024 2023 2024 2023 Income Statement Net interest income $ 88,524 $ 87,455 $ 86,285 $ 348,046 $ 330,621 Provision for credit losses 6,878 7,475 7,235 27,041 31,653 Non-interest income 16,149 14,385 14,503 58,851 56,315 Non-interest expense 57,431 54,327 53,584 218,777 209,603 Income before provision for income taxes 40,364 40,038 39,969 161,079 145,680 Provision for income taxes 10,044 9,710 10,365 40,320 37,802 Net income 30,320 30,328 29,604 120,759 107,878 Diluted earnings per common share $ 0.69 $ 0.69 $ 0.68 $ 2.75 $ 2.67 Balance Sheet Total loans and leases HFI $ 6,906,822 $ 6,879,446 $ 6,684,306 $ 6,906,822 $ 6,684,306 Total deposits 7,458,628 7,497,887 7,176,999 7,458,628 7,176,999 Tangible common equity(1) 893,399 896,869 786,673 893,399 786,673 Balance Sheet Metrics Loans and leases / total deposits 92.64% 92.02% 93.39% 92.64% 93.39% Tangible common equity / tangible assets(1) 9.61% 9.72% 9.06% 9.61% 9.06% Key Performance Ratios Net interest margin 4.01% 3.88% 4.08% 3.97% 4.31% Efficiency ratio 53.58% 52.02% 51.63% 52.45% 52.62% Adjusted efficiency ratio(1) 53.37% 51.62% 48.64% 52.24% 49.61% Non-interest income to total revenues(1) 15.43% 14.13% 14.39% 14.46% 14.55% Non-interest expense to average assets 2.48% 2.31% 2.42% 2.38% 2.60% Return on average assets 1.31% 1.29% 1.34% 1.31% 1.34% Adjusted return on average assets(1) 1.32% 1.30% 1.44% 1.32% 1.45% Pre-tax pre-provision return on average assets (1) 2.04% 2.02% 2.13% 2.05% 2.20% Dividend payout ratio on common stock 13.04% 13.04% 13.24% 13.09% 13.48% Tangible book value per common share(1) $ 20.09 $ 20.21 $ 17.98 $ 20.09 $ 17.98

Non-GAAP Reconciliation As of or For the Three Months Ended As of or For the Year Ended (dollars in thousands, except per share data) December 31, 2024 September 30, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Net income and earnings per share excluding significant items Reported Net Income $ 30,320 $ 30,328 $ 29,604 $ 120,759 $ 107,878 Significant items: Impairment charges on ROU asset — — 1,981 194 2,395 Merger-related expenses 218 411 1,035 629 9,222 Tax benefit (1) (32) (793) (85) (2,696) Adjusted Net Income $ 30,537 $ 30,707 $ 31,827 $ 121,497 $ 116,799 Reported Diluted Earnings per Share $ 0.69 $ 0.69 $ 0.68 $ 2.75 $ 2.67 Significant items: Impairment charges on ROU asset — — 0.05 — 0.06 Merger-related expenses — 0.01 0.02 0.01 0.23 Tax benefit — — (0.02) — (0.07) Adjusted Diluted Earnings per Share $ 0.69 $ 0.70 $ 0.73 $ 2.76 $ 2.89

Non-GAAP Reconciliation (continued) As of or For the Three Months Ended As of or For the Year Ended (dollars in thousands) December 31, 2024 September 30, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Adjusted non-interest expense: Non-interest expense $ 57,431 $ 54,327 $ 53,584 $ 218,777 $ 184,082 Less: Significant items Impairment charges on ROU assets — — 1,981 194 372 Merger-related expenses 218 411 1,035 629 538 Adjusted non-interest expense $ 57,213 $ 53,916 $ 50,568 $ 217,954 $ 183,172 Adjusted non-interest expense ex. amortization of intangible assets: Adjusted non-interest expense $ 57,213 $ 53,916 $ 50,568 $ 217,954 $ 183,172 Less: Amortization of intangible assets 1,345 1,345 1,550 5,380 6,671 Adjusted non-interest expense ex. amortization of intangible assets $ 55,868 $ 52,571 $ 49,018 $ 212,574 $ 176,501 Pre-tax pre-provision net income: Pre-tax income $ 40,364 $ 40,038 $ 39,969 $ 161,079 $ 114,683 Add: Provision for loan and lease losses 6,878 7,475 7,235 27,041 23,879 Pre-tax pre-provision net income $ 47,242 $ 47,513 $ 47,204 $ 188,120 $ 138,562 Adjusted pre-tax pre-provision net income: Pre-tax pre-provision net income $ 47,242 $ 47,513 $ 47,204 $ 188,120 $ 138,562 Add: Impairment charges on ROU assets — — 1,981 194 372 Add: Merger-related expenses 218 411 1,035 629 538 Adjusted pre-tax pre-provision net income $ 47,460 $ 47,924 $ 50,220 $ 188,943 $ 139,472 Tax equivalent net interest income: Net interest income $ 88,524 $ 87,455 $ 86,285 $ 348,046 $ 265,330 Add: Tax-equivalent adjustment 230 229 240 921 915 Net interest income, fully taxable equivalent $ 88,754 $ 87,684 $ 86,525 $ 348,967 $ 266,245 Total revenues: Net interest income $ 88,524 $ 87,455 $ 86,285 $ 348,046 $ 265,330 Add: Non-interest income 16,149 14,385 14,503 58,851 57,314 Total revenues $ 104,673 $ 101,840 $ 100,788 $ 406,897 $ 322,644

Non-GAAP Reconciliation (continued) As of or For the Three Months Ended As of or For the Year Ended (dollars in thousands) December 31, 2024 September 30, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Tangible common stockholders' equity: Total stockholders' equity $ 1,091,497 $ 1,096,312 $ 990,151 $ 1,091,497 $ 990,151 Less: Goodwill and other intangibles 198,098 199,443 203,478 198,098 203,478 Tangible common stockholders' equity $ 893,399 $ 896,869 $ 786,673 $ 893,399 $ 786,673 Tangible assets: Total assets $ 9,496,529 $ 9,424,316 $ 8,881,967 $ 9,496,529 $ 8,881,967 Less: Goodwill and other intangibles 198,098 199,443 203,478 198,098 203,478 Tangible assets $ 9,298,431 $ 9,224,873 $ 8,678,489 $ 9,298,431 $ 8,678,489 Tangible assets, excluding accumulated other comprehensive loss: Tangible assets $ 9,298,431 $ 9,224,873 $ 8,678,489 $ 9,298,431 $ 8,678,489 Less: Accumulated other comprehensive loss (113,687) (78,678) (100,117) (113,687) (100,117) Tangible assets, excluding accumulated other comprehensive loss: $ 9,412,118 $ 9,303,551 $ 8,778,606 $ 9,412,118 $ 8,778,606 Tangible common stockholders' equity, excluding accumulated other comprehensive loss: Tangible common stockholders' equity $ 893,399 $ 896,869 $ 786,673 $ 893,399 $ 786,673 Less: Accumulated other comprehensive loss (113,687) (78,678) (100,117) (113,687) (100,117) Tangible common stockholders' equity, excluding accumulated other comprehensive loss $ 1,007,086 $ 975,547 $ 886,790 $ 1,007,086 $ 886,790 Average tangible common stockholders’ equity: Average total stockholders' equity $ 1,094,025 $ 1,059,628 $ 935,197 $ 1,040,515 $ 863,092 Less: Average goodwill and other intangibles 198,697 200,091 204,191 200,740 180,717 Average tangible common stockholders' equity $ 895,328 $ 859,537 $ 731,006 $ 839,775 $ 682,375 Average tangible assets: Average total assets $ 9,201,635 $ 9,373,849 $ 8,787,636 $ 9,187,342 $ 8,048,331 Less: Average goodwill and other intangibles 198,697 200,091 204,191 200,740 180,717 Average tangible assets $ 9,002,938 $ 9,173,758 $ 8,583,445 $ 8,986,602 $ 7,867,614 Tangible net income available to common stockholders: Net income available to common stockholders $ 30,320 $ 30,328 $ 29,604 $ 120,759 $ 107,878 Add: After-tax intangible asset amortization 1,015 986 1,138 3,974 4,408 Tangible net income available to common stockholders $ 31,335 $ 31,314 $ 30,742 $ 124,733 $ 112,286 Adjusted tangible net income available to common stockholders: Tangible net income available to common stockholders $ 31,335 $ 31,314 $ 30,742 $ 124,733 $ 112,286 Impairment charges on ROU assets — — 1,981 194 2,395 Merger-related expenses 218 411 1,035 629 9,222 Tax benefit on significant items (1) (32) (793) (85) (2,696) Adjusted tangible net income available to common stockholders $ 31,552 $ 31,693 $ 32,965 $ 125,471 $ 121,207

Non-GAAP Reconciliation (continued) As of or For the Three Months Ended As of or For the Year Ended (dollars in thousands, except share and per share data, ratios annualized, where applicable) December 31, 2024 September 30, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Pre-tax pre-provision return on average assets: Pre-tax pre-provision net income $ 47,242 $ 47,513 $ 47,204 $ 188,120 $ 177,333 Average total assets 9,201,635 9,373,849 8,787,636 9,187,342 8,048,331 Pre-tax pre-provision return on average assets 2.04% 2.02% 2.13% 2.05% 2.20% Adjusted pre-tax pre-provision return on average assets: Adjusted pre-tax pre-provision net income $ 47,460 $ 47,924 $ 50,220 $ 188,943 $ 188,950 Average total assets 9,201,635 9,373,849 8,787,636 9,187,342 8,048,331 Adjusted pre-tax pre-provision return on average assets 2.05% 2.03% 2.27% 2.06% 2.35% Net interest margin, fully taxable equivalent: Net interest income, fully taxable equivalent $ 88,754 $ 87,684 $ 86,525 $ 348,967 $ 331,524 Total average interest-earning assets 8,785,176 8,961,651 8,387,877 8,774,014 7,677,848 Net interest margin, fully taxable equivalent 4.02% 3.89% 4.09% 3.98% 4.32% Non-interest income to total revenues: Non-interest income $ 16,149 $ 14,385 $ 14,503 $ 58,851 $ 56,315 Total revenues 104,673 101,840 100,788 406,897 386,936 Non-interest income to total revenues 15.43% 14.13% 14.39% 14.46% 14.55% Adjusted non-interest expense to average assets: Adjusted non-interest expense $ 57,213 $ 53,916 $ 50,568 $ 217,954 $ 197,986 Average total assets 9,201,635 9,373,849 8,787,636 9,187,342 8,048,331 Adjusted non-interest expense to average assets 2.47% 2.29% 2.28% 2.37% 2.46% Adjusted efficiency ratio: Adjusted non-interest expense excluding amortization of intangible assets $ 55,868 $ 52,571 $ 49,018 $ 212,574 $ 191,975 Total revenues 104,673 101,840 100,788 406,897 386,936 Adjusted efficiency ratio 53.37% 51.62% 48.64% 52.24% 49.61% Adjusted return on average assets: Adjusted net income $ 30,537 $ 30,707 $ 31,827 $ 121,497 $ 116,799 Average total assets 9,201,635 9,373,849 8,787,636 9,187,342 8,048,331 Adjusted return on average assets 1.32% 1.30% 1.44% 1.32% 1.45% Adjusted return on average stockholders' equity: Adjusted net income $ 30,537 $ 30,707 $ 31,827 $ 121,497 $ 116,799 Average stockholders' equity 1,094,025 1,059,628 935,197 1,040,515 863,092 Adjusted return on average stockholders' equity 11.10% 11.51% 13.50% 11.68% 13.53%

Non-GAAP Reconciliation (continued) As of or For the Three Months Ended As of or For the Year Ended December 31, 2024 September 30, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Tangible common equity to tangible assets: Tangible common equity $ 893,399 $ 896,869 $ 786,673 $ 893,399 $ 786,673 Tangible assets 9,298,431 9,224,873 8,678,489 9,298,431 8,678,489 Tangible common equity to tangible assets 9.61% 9.72% 9.06% 9.61% 9.06% Tangible common stockholders' equity, excluding accumulated other comprehensive loss to tangible assets, excluding accumulated other comprehensive loss: Tangible common stockholders' equity, excluding accumulated other comprehensive loss $ 1,007,086 $ 975,547 $ 886,790 $ 1,007,086 $ 886,790 Tangible assets, excluding accumulated other comprehensive loss: 9,412,118 9,303,551 8,778,606 9,412,118 8,778,606 Tangible common stockholders' equity, excluding accumulated other comprehensive loss to tangible assets, excluding accumulated other comprehensive loss 10.70% 10.49% 10.10% 10.70% 10.10% Return on average tangible common stockholders' equity: Tangible net income available to common stockholders $ 31,335 $ 31,314 $ 30,742 $ 124,733 $ 112,286 Average tangible common stockholders' equity 895,328 859,537 731,006 839,775 682,375 Return on average tangible common stockholders' equity 13.92% 14.49% 16.15% 14.85% 16.46% Adjusted return on average tangible common stockholders' equity: Adjusted tangible net income available to common stockholders $ 31,552 $ 31,693 $ 32,965 $ 125,471 $ 121,207 Average tangible common stockholders' equity 895,328 859,537 731,006 839,775 682,375 Adjusted return on average tangible common stockholders' equity 14.02% 14.67% 18.95% 14.94% 17.76% Tangible book value per share: Tangible common equity $ 893,399 $ 896,869 $ 786,673 $ 893,999 $ 786,673 Common shares outstanding 44,459,584 44,384,706 43,719,203 44,459,584 43,764,056 Tangible book value per share $ 20.09 $ 20.21 $ 17.98 $ 20.09 $ 17.98 Accumulated other comprehensive loss to tangible common equity: Accumulated other comprehensive loss $ 113,687 $ 78,678 $ 142,159 $ 113,687 $ 100,117 Tangible common equity 893,399 896,869 786,673 893,399 786,673 Accumulated other comprehensive loss to tangible common equity 12.7% 8.8% 18.1% 12.7% 12.7%

Document and Entity Information	Jan. 23, 2025
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Jan. 23, 2025
Entity Registrant Name	BYLINE BANCORP, INC.
Entity Central Index Key	0001702750
Entity Emerging Growth Company	false
Entity File Number	001-38139
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-3012593
Entity Address, Address Line One	180 North LaSalle Street
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60601
City Area Code	773
Local Phone Number	244-7000
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of each class	Common Stock
Trading Symbol	BY
Name of each exchange on which registered	NYSE

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