Byline Bank
Bank based in Chicago
From Wikipedia, the free encyclopedia
Byline Bank is a bank headquartered in Chicago, Illinois, United States. It is the primary subsidiary of Byline Bancorp, Inc., a bank holding company, and the 4th largest SBA 7(a) lender.[1]
 | |
| Company type | Public company |
|---|---|
| NYSE: BY Russell 2000 Index component | |
| Industry | Banking |
| Founded | 1978 |
| Headquarters | |
Number of locations | 57 branches (2019)[1] |
Key people | Roberto Herencia, Chairman Alberto Paracchini, 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) |
| Website | www |
| 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 2008 financial crisis.[3]
In 2009, it accepted $71.5 million from the Troubled Asset Relief Program.[2][4][5] In 2013, BXM Holdings LLC purchased and recapitalized the bank with a $207 million investment.[3]
A year before acquiring Ridgestone Bank,[6][7] the company was renamed Byline Bancorp Inc. and consolidated all its subsidiaries under the name Byline Bank in 2015.[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] In December 2022, Byline entered a merger agreement and acquired Inland Bank, valued at approximately $165 million in cash and stock.[14] The merger was finalized in July 2023.[15]
On April 1, 2025, Byline merged with First Security Bank, closing at an approximate $41.5 million valuation. Under the agreement, every share of First Security’s common stock was converted into the right to receive 2.3539 shares of Byline common stock.[16]
