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 25, 2024

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 25, 2024, Byline Bancorp, Inc., (“Byline" or the "Company”) issued a press release announcing its financial results for the fourth quarter ended December 31, 2023. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference.

On January 25, 2024, the Company made available on its website a slide presentation regarding the Company’s fourth quarter 2023 financial results, which will be used as part of a publicly accessible conference call on January 26, 2024. 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 2023 financial results press release, dated January 25, 2024
99.2		Slide Presentation regarding fourth quarter 2023 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, 2022. 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 25, 2024	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 2023 Financial Results

Fourth quarter net income of $29.6 million, $0.68 diluted earnings per share;

Full year net income of $107.9 million, $2.67 diluted earnings per share

Chicago, IL, January 25, 2024 – Byline Bancorp, Inc. (NYSE: BY), today reported:


			For the quarter					Full Year Highlights
		4Q23		3Q23		4Q22		Full Year Highlights
Financial Results (in thousands)								• Net income increased $20.1 million, or 22.9%
	Net interest income	$	86,285	$	92,452	$	76,604
	Non-interest income		14,503		12,376		11,455	• Positive operating leverage of 6.1%
	Total Revenue(1)		100,788		104,828		88,059	driven by 28.0% increase in PTPP
	Non-interest expense		53,584		57,891		50,500
	Pre-tax pre-provision net income (PTPP)(1)		47,204		46,937		37,559	• Net interest income up $65.3 million,
	Provision for credit losses		7,235		8,803		5,826	or 24.6%; NIM up 31 bps to 4.31%
	Provision for income taxes		10,365		9,912		7,366
	Net Income	$	29,604	$	28,222	$	24,367	• Assets increased by $1.5 billion, through
								organic growth and Inland acquisition
Per Share
	Diluted EPS	$	0.68	$	0.65	$	0.65	4Q23 Income Statement Highlights
	Dividends declared per common share		0.09		0.09		0.09	• Adjusted net income(1) of $31.8 million,
	Book value per share		22.62		21.04		20.43	or $0.73 per adjusted diluted share(1)
	Tangible book value per share(1)		17.98		16.35		16.19
								• Record PTPP(1) of $47.2 million
Balance Sheet & Credit Quality
	Total deposits	$	7,176,999	$	6,953,690	$	5,695,121	• Adjusted efficiency ratio(1) of 48.64%
	Total loans and leases		6,702,311		6,620,602		5,469,081
	Net charge-offs		12,186		5,430		3,179	4Q23 Balance Sheet Highlights
	Allowance for credit losses (ACL)		101,686		105,696		81,924	• Deposit growth of $223.3 million, or 12.7%(2)
	ACL to total loans and leases held for investment		1.52%		1.60%		1.51%
								• Loan growth of $81.7 million, or 4.9%(2)
Select Ratios
	Efficiency ratio(1)		51.63%		53.75%		55.53%	• Loan/deposit ratio of 93.39%, down 182 bps
	Return on average assets (ROAA)		1.34%		1.30%		1.33%
	Return on average stockholders' equity		12.56%		12.11%		12.92%	• Reduced reliance on Brokered CDs and FHLB
	Return on average tangible common equity(1)		16.68%		16.15%		17.21%	advances, down $384.1 million
	Net Interest Margin (NIM)		4.08%		4.46%		4.39%
	Common equity to total assets		11.15%		10.29%		10.40%	• Common equity to assets of 11.15%;
	Tangible common equity to tangible assets(1)		9.06%		8.18%		8.42%	TCE/TA(1) of 9.06%, up 88 bps
	Common Equity Tier 1		10.35%		10.08%		10.20%

    CEO/President Commentary

   

    Roberto R. Herencia, Executive Chairman and CEO of Byline Bancorp, commented, “During 2023, we completed a number of strategic initiatives, including the successful merger and integration of Inland Bancorp, Inc. and delivered sound fourth quarter and strong full-year financial results. We were able to meet the needs of our customers and the markets we serve as total deposits increased $1.5 billion and total loans and leases increased $1.2 billion during the year. This stable balance sheet growth helped us achieve the highest level of revenue in Byline's history. We enter 2024 on solid footing and with great momentum to continue growing the value of our franchise."

(1)

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

(2)

Annualized

Byline Bancorp, Inc.

Page 2 of 15

    Alberto J. Paracchini, President of Byline Bancorp, added, “We are pleased to end the year delivering strong earnings, balanced deposit and loan and lease growth, robust profitability, and disciplined expense management. We remain resolute in serving our customers’ financial needs while diligently focusing on maintaining our asset quality, capital and liquidity positions. I want to thank everyone who works at Byline for their dedication, talent, and contributions to another successful year.” 

   

Board Authorizes New Stock Repurchase Program

On December 6, 2023, the Company's Board of Directors approved a new stock repurchase program that authorizes the Company to purchase up to 1.25 million shares of the Company's outstanding common stock. The new program is effective January 1, 2024 until December 31, 2024. Under the previous stock repurchase program that expired on December 31, 2023, the Company did not repurchase any shares during 2023.

Board Declares Cash Dividend of $0.09 per Share

On January 23, 2024, the Company's Board of Directors declared a cash dividend of $0.09 per share, payable on February 20, 2024, to stockholders of record of the Company's common stock as of February 6, 2024.

STATEMENTS OF OPERATIONS HIGHLIGHTS

Net Interest Income

Net interest income for the fourth quarter of 2023 was $86.3 million, a decrease of $6.2 million, or 6.7%, from the third quarter of 2023. The decrease in net interest income was primarily due to an increase of $6.1 million in deposit interest expense due to growth and higher rates, and a decrease of $1.4 million in interest income and fees on loans and leases mainly due to lower accretion income on acquired loans of $5.2 million, offset by growth.

Tax-equivalent net interest margin(1) for the fourth quarter of 2023 was 4.09%, a decrease of 38 basis points compared to the third quarter of 2023. Total net loan accretion income impact on the margin contributed 24 basis points to the net interest margin for the current quarter compared to 50 basis points for the prior quarter.

The average cost of total deposits was 2.42% for the fourth quarter of 2023, an increase of 29 basis points compared to the third quarter of 2023, as a result of higher rates on money market accounts and time deposits. Average non-interest-bearing demand deposits were 27.5% of average total deposits for the current quarter compared to 28.8% during the prior quarter.

Net interest income for the year ended December 31, 2023 was $330.6 million, an increase of $65.3 million, or 24.6%, from the year ended December 31, 2022. The increase in net interest income was primarily due to an increase of $167.6 million in interest income and fees on loans and leases due to growth and accretion income on acquired loans; partially offset by an increase of $101.6 million in deposit interest expense due to higher rates paid and growth.

Tax-equivalent net interest margin(1) for the year ended December 31, 2023 was 4.32%, an increase of 31 basis points compared to year ended December 31, 2022. Total net loan accretion income impact on the margin contributed 22 basis points to the net interest margin for the current year compared to seven basis points for the prior year.

The average cost of total deposits was 1.90% for the year ended December 31, 2023, an increase of 154 basis points compared to the year ended December 31, 2022, as a result of higher rates on money market accounts and time deposits. Average non-interest-bearing demand deposits were 30.7% of average total deposits for the current year compared to 40.4% during the prior year.

Provision for Credit Losses

The provision for credit losses was $7.2 million for the fourth quarter of 2023, a decrease of $1.6 million compared to $8.8 million for the third quarter of 2023, mainly attributed to a $2.7 million provision allocated for the acquired non-credit-deteriorated loans resulting from acquisition accounting taken in the prior quarter, partially offset by impairments on non-performing loans. The provision for credit losses for the current quarter is comprised of a provision for loan and lease losses of $8.2 million and a recapture for unfunded commitments of $940,000.

The provision for credit losses was $31.7 million for the year ended December 31, 2023, an increase of $7.8 million compared to $23.9 million for the year ended December 31, 2022, mainly attributed to an increase in non-performing loans and acquired non-credit-deteriorated loans. The provision for credit losses for the current year is comprised of a provision for loan and lease losses of $32.2 million and a recapture for unfunded commitments of $567,000.

(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

Non-interest income for the fourth quarter of 2023 was $14.5 million, an increase of $2.1 million, or 17.2%, compared to $12.4 million for the third quarter of 2023. The increase in total non-interest income was primarily due to a $2.4 million decrease in the downward valuation of the loan servicing asset reflecting lower discount rate and improved secondary market conditions, and a $1.2 million gain on the change in fair value of equity securities, partially offset by a decrease of $993,000 in the net gains on sales of loans due to a lower volume of loans sold. During the fourth quarter of 2023, we sold $89.1 million of U.S. government guaranteed loans compared to $101.1 million during the third quarter of 2023.

Non-interest income for the year ended December 31, 2023 was $56.3 million, a decrease of $1.0 million, or 1.7%, compared to $57.3 million for the year ended December 31, 2022. The decrease in total non-interest income was primarily due to a decrease in net gains on sales of loans of $9.1 million, partially offset by a $6.7 million decrease in the downward valuation on the loan servicing asset, reflecting a lower discount rate and improved secondary market conditions. During the current year, we sold $348.4 million of U.S. government guaranteed loans compared to $382.2 million during the prior year.

Non-interest Expense

Non-interest expense for the fourth quarter of 2023 was $53.6 million, a decrease of $4.3 million, or 7.4%, from $57.9 million for the third quarter of 2023. The decrease in total non-interest expense was mainly due to a decrease of $3.0 million in salaries and employee benefits, and decreases of $1.5 million in both data processing and legal, audit and other professional, primarily driven by merger-related expenses taken in the third quarter.

Our efficiency ratio was 51.63% for the fourth quarter of 2023 compared to 53.75% for the third quarter of 2023, an improvement of 212 basis points. Excluding significant items, our adjusted efficiency ratio(1) for the fourth quarter 2023 was 48.64%, compared to 47.35% for the third quarter of 2023.

Non-interest expense for the year ended December 31, 2023 was $209.6 million, an increase of $25.5 million, or 13.9%, from $184.1 million for the year ended December 31, 2022. The increase in total non-interest expense was mainly due to the Inland acquisition.

Our efficiency ratio was 52.62% for the year ended December 31, 2023 compared to 54.99% for the year ended December 31, 2022, an improvement of 237 basis points. Excluding significant items, our adjusted efficiency ratio(1) for the current year was 49.61%, compared to 54.70% for the prior year.

Income Taxes

We recorded income tax expense of $10.4 million during the fourth quarter of 2023, compared to $9.9 million during the third quarter of 2023. The effective tax rate was 25.9% and 26.0% for the fourth quarter of 2023 and third quarter of 2023, respectively.

We recorded income tax expense of $37.8 million during the year ended December 31, 2023, compared to $26.7 million during the year ended December 31, 2022. The effective tax rate was 25.9% and 23.3% for the current year and prior year, respectively.

Byline Bancorp, Inc.

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STATEMENTS OF FINANCIAL CONDITION HIGHLIGHTS

Assets

Total assets were $8.9 billion as of December 31, 2023, a decrease of $61.4 million, or 0.7%, compared to $8.9 billion at September 30, 2023 and an increase of $1.5 billion from $7.4 billion at December 31, 2022.

The current quarter decrease was primarily due to a decrease in cash and cash equivalents of $202.8 million due to cash management strategies, offset by an increase in net loans and leases of $75.0 million mainly due to the increases in commercial banking and lease financings, and an increase in securities available-for-sale of $102.6 million, driven by an increase in fair values. The increase from the prior year is primarily due to the Inland acquisition and organic loan and lease growth.

Non-performing loans and leases were $64.1 million at December 31, 2023, an increase of $12.0 million from $52.1 million at September 30, 2023, and $28.0 million from $36.0 million at December 31, 2022. The increases were primarily the result of increases to purchased credit deteriorated loans and increases in non-performing commercial real estate loans and commercial and industrial loans.

Allowance for Credit Losses ("ACL") - Loans and Leases

The ACL was $101.7 million as of December 31, 2023, a decrease of $4.0 million, or 3.8%, from $105.7 million at September 30, 2023, mainly due to net charge-offs. The ACL increase of $19.8 million from $81.9 million as of December 31, 2022 is mainly due to loan growth, adjustment for acquired purchase credit deteriorated loans, and an increase in non-performing loans.

Net charge-offs of loans and leases during the fourth quarter of 2023 were $12.2 million, or 0.73% of average loans and leases, on an annualized basis. This was an increase of $6.8 million compared to net charge-offs of $5.4 million, or 0.33% of average loans and leases, during the third quarter of 2023. Increases in the current quarter are primarily due to the resolution of impaired commercial and industrial loans and commercial real estate loans.

Net charge-offs of loans and leases during the year ended December 31, 2023 were $23.1 million, or 0.38% of average loans and leases. This was an increase of $15.1 million compared to net charge-offs of $7.9 million, or 0.16% of average loans and leases, during the year ended December 31, 2022. Increases for the full year were mainly driven by resolutions on purchased credit deteriorated loans and commercial real estate loans.

Deposits and Other Liabilities

Total deposits increased $223.3 million to $7.2 billion at December 31, 2023 compared to $7.0 billion at September 30, 2023 and $5.7 billion as of December 31, 2022. The increase in deposits in the current quarter was mainly due to organic growth. Time deposit growth of $127.2 million was principally due to increased personal time deposits. Money market growth of $203.8 million was due to increases in consumer and commercial deposits. Non-interest-bearing demand deposits decreased $54.0 million primarily due to lower consumer deposits. Increases for the full year were primarily driven by the Inland acquisition and organic deposit growth, and were impacted by shifting deposit mix due to the rising interest rate environment.

Total borrowings and other liabilities were $714.8 million at December 31, 2023, a decrease of $354.8 million from $1.1 billion at September 30, 2023, and a decrease of $187.0 million from $902.0 million at December 31, 2022. These decreases were primarily driven by lower Federal Home Loan Bank advances.

Stockholders’ Equity

Total stockholders’ equity was $990.2 million at December 31, 2023, increase of $70.2 million from $919.9 million at September 30, 2023, and an increase of $224.5 million from December 31, 2022. The quarterly increase was primarily due to increases in other comprehensive income and retained earnings as a result of net income. The full year increase was primarily due to merger consideration and retained earnings as a result of net income.

Byline Bancorp, Inc.

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Conference Call, Webcast and Slide Presentation

We will host a conference call and webcast at 9:00 a.m. Central Time on Friday, January 26, 2024, 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 183253. A recorded replay can be accessed through February 9, 2024, by dialing (866) 813-9403; passcode: 953063.

A slide presentation relating to our fourth quarter 2023 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 $8.9 billion in assets and operates 48 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)	2023			2023			2022
ASSETS
Cash and due from banks	$	60,431		$	71,248		$	62,274
Interest bearing deposits with other banks		165,705			357,640			117,079
Cash and cash equivalents		226,136			428,888			179,353
Equity and other securities, at fair value		8,743			7,902			7,989
Securities available-for-sale, at fair value		1,342,480			1,239,929			1,174,431
Securities held-to-maturity, at amortized cost		1,157			1,157			2,705
Restricted stock, at cost		16,304			30,505			28,202
Loans held for sale		18,005			7,299			47,823
Loans and leases:
Loans and leases		6,684,306			6,613,303			5,421,258
Allowance for credit losses - loans and leases		(101,686	)		(105,696	)		(81,924	)
Net loans and leases		6,582,620			6,507,607			5,339,334
Servicing assets, at fair value		19,844			19,743			19,172
Premises and equipment, net		66,627			67,121			56,798
Other real estate owned, net		1,200			1,671			4,717
Goodwill and other intangible assets, net		203,478			205,028			158,887
Bank-owned life insurance		96,900			96,268			82,093
Deferred tax assets, net		50,058			89,841			68,213
Accrued interest receivable and other assets		248,415			240,409			193,224
Total assets	$	8,881,967		$	8,943,368		$	7,362,941
LIABILITIES AND STOCKHOLDERS’ EQUITY
LIABILITIES
Non-interest-bearing demand deposits	$	1,905,876		$	1,959,855		$	2,138,645
Interest-bearing deposits		5,271,123			4,993,835			3,556,476
Total deposits		7,176,999			6,953,690			5,695,121
Other borrowings		395,190			713,233			640,399
Subordinated notes, net		73,866			73,822			73,691
Junior subordinated debentures issued to capital trusts, net		70,452			70,336			37,338
Accrued expenses and other liabilities		175,309			212,342			150,576
Total liabilities		7,891,816			8,023,423			6,597,125
STOCKHOLDERS’ EQUITY
Common stock		451			450			389
Additional paid-in capital		710,488			708,615			598,297
Retained earnings		429,036			403,368			335,794
Treasury stock		(49,707	)		(50,329	)		(51,114	)
Accumulated other comprehensive loss, net of tax		(100,117	)		(142,159	)		(117,550	)
Total stockholders’ equity		990,151			919,945			765,816
Total liabilities and stockholders’ equity	$	8,881,967		$	8,943,368		$	7,362,941

Byline Bancorp, Inc.

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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)	2023			2023			2022			2023			2022
INTEREST AND DIVIDEND INCOME
Interest and fees on loans and leases	$	124,042		$	125,465		$	85,720		$	440,984		$	273,412
Interest on securities		9,227			8,415			6,569			30,801			25,390
Other interest and dividend income		2,345			2,710			1,515			7,693			2,757
Total interest and dividend income		135,614			136,590			93,804			479,478			301,559
INTEREST EXPENSE
Deposits		43,252			37,163			10,610			121,436			19,796
Other borrowings		3,051			3,981			4,598			17,161			9,322
Subordinated notes and debentures		3,026			2,994			1,992			10,260			7,111
Total interest expense		49,329			44,138			17,200			148,857			36,229
Net interest income		86,285			92,452			76,604			330,621			265,330
PROVISION FOR CREDIT LOSSES		7,235			8,803			5,826			31,653			23,879
Net interest income after provision for credit losses		79,050			83,649			70,778			298,968			241,451
NON-INTEREST INCOME
Fees and service charges on deposits		2,486			2,372			2,081			9,211			8,152
Loan servicing revenue		3,377			3,369			3,293			13,503			13,479
Loan servicing asset revaluation		(1,234	)		(3,646	)		(3,534	)		(5,089	)		(11,743	)
ATM and interchange fees		1,082			1,205			1,250			4,462			4,437
Net realized gains on securities available-for-sale		—			—			—			—			50
Change in fair value of equity securities, net		841			(313	)		710			1,071			(603	)
Net gains on sales of loans		5,480			6,473			5,509			22,805			31,899
Wealth management and trust income		1,256			939			864			4,158			3,807
Other non-interest income		1,215			1,977			1,282			6,194			7,836
Total non-interest income		14,503			12,376			11,455			56,315			57,314
NON-INTEREST EXPENSE
Salaries and employee benefits		31,974			34,969			31,808			126,979			118,051
Occupancy and equipment expense, net		4,346			5,314			3,532			18,508			16,988
Impairment charge on assets held for sale		1,980			—			372			2,000			372
Loan and lease related expenses		649			836			1,126			2,936			1,707
Legal, audit, and other professional fees		2,352			3,805			3,204			12,946			10,357
Data processing		4,982			6,472			3,406			19,509			13,358
Net loss recognized on other real estate owned and other related expenses		89			111			221			385			708
Other intangible assets amortization expense		1,550			1,551			1,596			6,011			6,671
Other non-interest expense		5,662			4,833			5,235			20,329			15,870
Total non-interest expense		53,584			57,891			50,500			209,603			184,082
INCOME BEFORE PROVISION FOR INCOME TAXES		39,969			38,134			31,733			145,680			114,683
PROVISION FOR INCOME TAXES		10,365			9,912			7,366			37,802			26,729
NET INCOME	$	29,604		$	28,222		$	24,367		$	107,878		$	87,954
Dividends on preferred shares		—			—			—			—			196
INCOME AVAILABLE TO COMMON STOCKHOLDERS	$	29,604		$	28,222		$	24,367		$	107,878		$	87,758
EARNINGS PER COMMON SHARE
Basic	$	0.69		$	0.66		$	0.66		$	2.69		$	2.37
Diluted	$	0.68		$	0.65		$	0.65		$	2.67		$	2.34

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)	2023			2023			2022			2023			2022
Earnings per Common Share
Basic earnings per common share	$	0.69		$	0.66		$	0.66		$	2.69		$	2.37
Diluted earnings per common share	$	0.68		$	0.65		$	0.65		$	2.67		$	2.34
Adjusted diluted earnings per common share(1)(3)	$	0.73		$	0.77		$	0.67		$	2.89		$	2.36
Weighted average common shares outstanding (basic)		43,065,294			43,025,927			36,856,221			40,045,208			36,972,972
Weighted average common shares outstanding (diluted)		43,537,778			43,458,110			37,360,113			40,445,553			37,476,120
Common shares outstanding		43,764,056			43,719,203			37,492,775			43,764,056			37,492,775
Cash dividends per common share	$	0.09		$	0.09		$	0.09		$	0.36		$	0.36
Dividend payout ratio on common stock		13.24	%		13.85	%		13.85	%		13.48	%		15.38	%
Book value per common share	$	22.62		$	21.04		$	20.43		$	22.62		$	20.43
Tangible book value per common share(1)	$	17.98		$	16.35		$	16.19		$	17.98		$	16.19
Key Ratios and Performance Metrics (annualized where applicable)
Net interest margin		4.08	%		4.46	%		4.39	%		4.31	%		4.00	%
Net interest margin, fully taxable equivalent (1)(4)		4.09	%		4.47	%		4.40	%		4.32	%		4.01	%
Average cost of deposits		2.42	%		2.13	%		0.73	%		1.90	%		0.36	%
Efficiency ratio(1)(2)		51.63	%		53.75	%		55.53	%		52.62	%		54.99	%
Adjusted efficiency ratio(1)(2)(3)		48.64	%		47.35	%		54.50	%		49.61	%		54.70	%
Non-interest income to total revenues(1)		14.39	%		11.81	%		13.01	%		14.55	%		17.76	%
Non-interest expense to average assets		2.42	%		2.66	%		2.76	%		2.60	%		2.62	%
Adjusted non-interest expense to average assets(1)(3)		2.28	%		2.35	%		2.71	%		2.46	%		2.61	%
Return on average stockholders' equity		12.56	%		12.11	%		12.92	%		12.50	%		11.33	%
Adjusted return on average stockholders' equity(1)(3)		13.50	%		14.30	%		13.34	%		13.53	%		11.43	%
Return on average assets		1.34	%		1.30	%		1.33	%		1.34	%		1.25	%
Adjusted return on average assets(1)(3)		1.44	%		1.53	%		1.37	%		1.45	%		1.26	%
Pre-tax pre-provision return on average assets(1)		2.13	%		2.16	%		2.05	%		2.20	%		1.97	%
Adjusted pre-tax pre-provision return on average assets(1)(3)		2.27	%		2.46	%		2.10	%		2.35	%		1.99	%
Return on average tangible common stockholders' equity(1)		16.68	%		16.15	%		17.21	%		16.46	%		15.15	%
Adjusted return on average tangible common stockholders' equity(1)(3)		17.89	%		18.95	%		17.75	%		17.76	%		15.28	%
Non-interest-bearing deposits to total deposits		26.56	%		28.18	%		37.55	%		26.56	%		37.55	%
Loans and leases held for sale and loans and lease held for investment to total deposits		93.39	%		95.21	%		96.03	%		93.39	%		96.03	%
Deposits to total liabilities		90.94	%		86.67	%		86.33	%		90.94	%		86.33	%
Deposits per branch	$	149,521		$	144,869		$	149,872		$	149,521		$	149,872
Asset Quality Ratios
Non-performing loans and leases to total loans and leases held for investment, net before ACL		0.96	%		0.79	%		0.66	%		0.96	%		0.66	%
ACL to total loans and leases held for investment, net before ACL		1.52	%		1.60	%		1.51	%		1.52	%		1.51	%
Net charge-offs to average total loans and leases held for investment, net before ACL - loans and leases		0.73	%		0.33	%		0.24	%		0.38	%		0.16	%
Capital Ratios
Common equity to total assets		11.15	%		10.29	%		10.40	%		11.15	%		10.40	%
Tangible common equity to tangible assets(1)		9.06	%		8.18	%		8.42	%		9.06	%		8.42	%
Leverage ratio		10.86	%		10.75	%		10.29	%		10.86	%		10.29	%
Common equity tier 1 capital ratio		10.35	%		10.08	%		10.20	%		10.35	%		10.20	%
Tier 1 capital ratio		11.39	%		11.12	%		10.85	%		11.39	%		10.85	%
Total capital ratio		13.38	%		13.17	%		13.00	%		13.38	%		13.00	%

(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 assets held for sale and 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, 2023								September 30, 2023								December 31, 2022
(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	$	201,862		$	1,822		3.58	%	$	195,019		$	1,724		3.51	%	$	89,367		$	234		1.04	%
Loans and leases(1)		6,632,827			124,042		7.42	%		6,484,875			125,465		7.68	%		5,389,210			85,720		6.31	%
Taxable securities		1,389,580			8,848		2.53	%		1,371,979			8,465		2.45	%		1,288,750			7,043		2.17	%
Tax-exempt securities(2)		163,608			1,142		2.77	%		168,805			1,184		2.78	%		155,562			1,021		2.60	%
Total interest-earning assets	$	8,387,877		$	135,854		6.43	%	$	8,220,678		$	136,838		6.60	%	$	6,922,889		$	94,018		5.39	%
Allowance for credit losses - loans and leases		(106,474	)							(108,315	)							(81,815	)
All other assets		506,233								521,982								424,979
TOTAL ASSETS	$	8,787,636							$	8,634,345							$	7,266,053
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits
Interest checking	$	570,706		$	2,335		1.62	%	$	579,917		$	2,208		1.51	%	$	596,627		$	1,902		1.27	%
Money market accounts		2,159,841			18,730		3.44	%		2,040,476			16,676		3.24	%		1,472,050			5,458		1.47	%
Savings		560,372			208		0.15	%		594,555			228		0.15	%		647,536			243		0.15	%
Time deposits		1,861,279			21,979		4.68	%		1,706,531			18,051		4.20	%		788,856			3,007		1.51	%
Total interest-bearing deposits		5,152,198			43,252		3.33	%		4,921,479			37,163		3.00	%		3,505,069			10,610		1.20	%
Other borrowings		395,711			3,051		3.06	%		463,561			3,981		3.41	%		514,518			4,598		3.55	%
Subordinated notes and debentures		144,230			3,026		8.32	%		144,171			2,994		8.24	%		110,947			1,992		7.12	%
Total borrowings		539,941			6,077		4.47	%		607,732			6,975		4.55	%		625,465			6,590		4.18	%
Total interest-bearing liabilities	$	5,692,139		$	49,329		3.44	%	$	5,529,211		$	44,138		3.17	%	$	4,130,534		$	17,200		1.65	%
Non-interest-bearing demand deposits		1,950,644								1,987,996								2,235,464
Other liabilities		209,656								192,860								151,763
Total stockholders’ equity		935,197								924,278								748,292
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	8,787,636							$	8,634,345							$	7,266,053
Net interest spread(3)							2.99	%							3.43	%							3.74	%
Net interest income, fully taxable equivalent				$	86,525							$	92,700							$	76,818
Net interest margin, fully taxable equivalent(2)(4)							4.09	%							4.47	%							4.40	%
Less: Tax-equivalent adjustment					240		0.01	%					248		0.01	%					214		0.01	%
Net interest income				$	86,285							$	92,452							$	76,604
Net interest margin(4)							4.08	%							4.46	%							4.39	%

Net loan accretion impact on margin				$	5,110		0.24	%				$	10,276		0.50	%				$	369		0.02	%

(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, 2023								December 31, 2022
(dollars in thousands)	Average Balance(5)			Interest Inc / Exp		Average Yield / Rate			Average Balance(5)			Interest Inc / Exp		Average Yield / Rate
ASSETS
Cash and cash equivalents	$	157,754		$	5,029		3.19	%	$	76,978		$	547		0.71	%
Loans and leases(1)		6,038,797			440,984		7.30	%		5,073,288			273,412		5.39	%
Taxable securities		1,322,379			30,068		2.27	%		1,316,147			24,156		1.84	%
Tax-exempt securities(2)		158,918			4,300		2.71	%		164,051			4,359		2.66	%
Total interest-earning assets	$	7,677,848		$	480,381		6.26	%	$	6,630,464		$	302,474		4.56	%
Allowance for credit losses - loans and leases		(98,067	)							(74,233	)
All other assets		468,550								462,548
TOTAL ASSETS	$	8,048,331							$	7,018,779
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits
Interest checking	$	574,335		$	9,212		1.60	%	$	593,903		$	3,572		0.60	%
Money market accounts		1,802,675			53,933		2.99	%		1,357,371			10,484		0.77	%
Savings		585,820			883		0.15	%		658,968			649		0.10	%
Time deposits		1,468,836			57,408		3.91	%		691,650			5,091		0.74	%
Total interest-bearing deposits		4,431,666			121,436		2.74	%		3,301,892			19,796		0.60	%
Other borrowings		484,984			17,125		3.53	%		478,374			9,308		1.95	%
Federal funds purchased		685			36		5.30	%		630			14		2.32	%
Subordinated notes and debentures		127,825			10,260		8.03	%		110,723			7,111		6.42	%
Total borrowings		613,494			27,421		4.47	%		589,727			16,433		2.79	%
Total interest-bearing liabilities	$	5,045,160		$	148,857		2.95	%	$	3,891,619		$	36,229		0.93	%
Non-interest-bearing demand deposits		1,965,663								2,236,615
Other liabilities		174,416								114,320
Total stockholders’ equity		863,092								776,225
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	8,048,331							$	7,018,779
Net interest spread(3)							3.31	%							3.63	%
Net interest income, fully taxable equivalent				$	331,524							$	266,245
Net interest margin, fully taxable equivalent(2)(4)							4.32	%							4.01	%
Less: Tax-equivalent adjustment					903		0.01	%					915		0.01	%
Net interest income				$	330,621							$	265,330
Net interest margin(4)							4.31	%							4.00	%

Net loan accretion impact on margin				$	16,726		0.22	%				$	4,555		0.07	%

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

(5) 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, 2023						September 30, 2023						December 31, 2022
(dollars in thousands)	Amount			% of Total			Amount			% of Total			Amount			% of Total
Originated loans and leases:
Commercial real estate	$	1,907,029			28.5	%	$	1,837,531			27.8	%	$	1,712,152			31.6	%
Residential real estate		465,133			7.0	%		454,456			6.9	%		426,226			7.9	%
Construction, land development, and other land		415,162			6.2	%		406,334			6.1	%		438,617			8.1	%
Commercial and industrial		2,311,563			34.6	%		2,286,058			34.6	%		2,030,616			37.5	%
Installment and other		2,919			0.0	%		2,968			0.0	%		1,410			0.0	%
Leasing financing receivables		665,239			10.0	%		641,032			9.7	%		521,689			9.6	%
Total originated loans and leases	$	5,767,045			86.3	%	$	5,628,379			85.1	%	$	5,130,710			94.7	%
Purchased credit deteriorated loans:
Commercial real estate	$	137,807			2.1	%	$	154,573			2.3	%	$	45,143			0.8	%
Residential real estate		42,510			0.6	%		47,485			0.7	%		32,228			0.6	%
Construction, land development, and other land		25,331			0.4	%		29,587			0.5	%		372			0.0	%
Commercial and industrial		19,460			0.3	%		21,014			0.3	%		2,192			0.0	%
Installment and other		125			0.0	%		125			0.0	%		140			0.0	%
Total purchased credit deteriorated loans	$	225,233			3.4	%	$	252,784			3.8	%	$	80,075			1.4	%
Acquired non-credit-deteriorated loans and leases:
Commercial real estate	$	275,476			4.1	%	$	296,656			4.5	%	$	152,193			2.8	%
Residential real estate		211,887			3.2	%		220,091			3.4	%		31,508			0.6	%
Construction, land development, and other land		86,344			1.3	%		87,087			1.3	%		—			0.0	%
Commercial and industrial		117,538			1.7	%		127,253			1.9	%		24,266			0.5	%
Installment and other		156			0.0	%		153			0.0	%		209			0.0	%
Leasing financing receivables		627			0.0	%		900			0.0	%		2,297			0.0	%
Total acquired non-credit-deteriorated loans and leases	$	692,028			10.3	%	$	732,140			11.1	%	$	210,473			3.9	%
Total loans and leases	$	6,684,306			100.0	%	$	6,613,303			100.0	%	$	5,421,258			100.0	%
Allowance for credit losses - loans and leases		(101,686	)					(105,696	)					(81,924	)
Total loans and leases, net of allowance for credit losses - loans and leases	$	6,582,620					$	6,507,607					$	5,339,334

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)	2023			2023			2022			2023			2022
ACL - loans and leases, beginning of period	$	105,696		$	92,665		$	79,704		$	81,924		$	55,012
Adjustment for acquired PCD loans		—			10,596			—			10,596			—
Adjustment for CECL adoption		—			—			—			—			12,168
Provision for credit losses - loans and leases		8,176			7,865			5,399			32,220			22,674
Net charge-offs - loans and leases		(12,186	)		(5,430	)		(3,179	)		(23,054	)		(7,930	)
ACL - loans and leases, end of period	$	101,686		$	105,696		$	81,924		$	101,686		$	81,924
Net charge-offs - loans and leases to average total loans and leases held for investment, net before ACL		0.73	%		0.33	%		0.24	%		0.38	%		0.16	%
Provision for credit losses - loans and leases to net charge-offs - loans and leases during the period		0.67	x		1.45	x		1.70	x		1.40	x		2.86	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, 2023
										Change from
(dollars in thousands)	December 31, 2023			September 30, 2023			December 31, 2022			September 30, 2023			December 31, 2022
Non-performing assets:
Non-accrual loans and leases	$	64,107		$	52,070		$	36,027			23.1	%		77.9	%
Past due loans and leases 90 days or more and still accruing interest		—			—			—		—%			—%
Total non-performing loans and leases	$	64,107		$	52,070		$	36,027			23.1	%		77.9	%
Other real estate owned		1,200			1,671			4,717			(28.2	)%		(74.6	)%
Total non-performing assets	$	65,307		$	53,741		$	40,744			21.5	%		60.3	%
Total non-performing loans and leases as a percentage of total loans and leases		0.96	%		0.79	%		0.66	%
Total non-performing assets as a percentage of total assets		0.74	%		0.60	%		0.55	%
Allowance for credit losses - loans and lease as a percentage of non-performing loans and leases		158.62	%		202.99	%		227.40	%

Non-performing assets guaranteed by U.S. government:
Non-accrual loans guaranteed	$	4,154		$	3,588		$	2,225			15.8	%		86.7	%
Past due loans 90 days or more and still accruing interest guaranteed		—			—			—		—%			—%
Total non-performing loans guaranteed	$	4,154		$	3,588		$	2,225			15.8	%		86.7	%
Total non-performing loans and leases not guaranteed as a percentage of total loans and leases		0.90	%		0.73	%		0.62	%
Total non-performing assets not guaranteed as a percentage of total assets		0.69	%		0.56	%		0.52	%

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


							December 31, 2023
							Change from
(dollars in thousands)	December 31, 2023		September 30, 2023		December 31, 2022		September 30, 2023			December 31, 2022
Non-interest-bearing demand deposits	$	1,905,876	$	1,959,855	$	2,138,645		(2.8	)%		(10.9	)%
Interest-bearing checking accounts		577,609		592,771		592,098		(2.6	)%		(2.4	)%
Money market demand accounts		2,266,030		2,062,252		1,415,653		9.9	%		60.1	%
Other savings		542,532		581,073		625,798		(6.6	)%		(13.3	)%
Time deposits (below $250,000)		1,520,082		1,446,485		762,250		5.0	%		99.4	%
Time deposits ($250,000 and above)		364,870		311,254		160,677		17.4	%		127.1	%
Total deposits	$	7,176,999	$	6,953,690	$	5,695,121		3.2	%		26.0	%

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)	2023			2023			2022			2023			2022
Net income and earnings per share excluding significant items:
Reported Net Income	$	29,604		$	28,222		$	24,367		$	107,878		$	87,954
Significant items:
Impairment charges on assets held for sale and ROU assets		1,981			394			372			2,395			372
Merger-related expenses		1,035			6,307			538			9,222			538
Tax benefit		(793	)		(1,617	)		(118	)		(2,696	)		(118	)
Adjusted Net Income	$	31,827		$	33,306		$	25,159		$	116,799		$	88,746
Reported Diluted Earnings per Share	$	0.68		$	0.65		$	0.65		$	2.67		$	2.34
Significant items:
Impairment charges on assets held for sale and ROU assets		0.05			0.01			0.01			0.06			0.01
Merger-related expenses		0.02			0.15			0.01			0.23			0.01
Tax benefit		(0.02	)		(0.04	)		—			(0.07	)		—
Adjusted Diluted Earnings per Share	$	0.73		$	0.77		$	0.67		$	2.89		$	2.36

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)	2023			2023			2022			2023			2022
Adjusted non-interest expense:
Non-interest expense	$	53,584		$	57,891		$	50,500		$	209,603		$	184,082
Less: Significant items
Impairment charges on assets held for sale and ROU assets		1,981			394			372			2,395			372
Merger-related expenses		1,035			6,307			538			9,222			538
Adjusted non-interest expense	$	50,568		$	51,190		$	49,590		$	197,986		$	183,172
Adjusted non-interest expense excluding amortization of intangible assets:
Adjusted non-interest expense	$	50,568		$	51,190		$	49,590		$	197,986		$	183,172
Less: Amortization of intangible assets		1,550			1,551			1,596			6,011			6,671
Adjusted non-interest expense excluding amortization of intangible assets	$	49,018		$	49,639		$	47,994		$	191,975		$	176,501
Pre-tax pre-provision net income:
Pre-tax income	$	39,969		$	38,134		$	31,733		$	145,680		$	114,683
Add: Provision for credit losses		7,235			8,803			5,826			31,653			23,879
Pre-tax pre-provision net income	$	47,204		$	46,937		$	37,559		$	177,333		$	138,562
Adjusted pre-tax pre-provision net income:
Pre-tax pre-provision net income	$	47,204		$	46,937		$	37,559		$	177,333		$	138,562
Add: Impairment charges on assets held for sale and ROU assets		1,981			394			372			2,395			372
Add: Merger-related expenses		1,035			6,307			538			9,222			538
Adjusted pre-tax pre-provision net income	$	50,220		$	53,638		$	38,469		$	188,950		$	139,472
Tax equivalent net interest income:
Net interest income	$	86,285		$	92,452		$	76,604		$	330,621		$	265,330
Add: Tax-equivalent adjustment		240			248			214			903			915
Net interest income, fully taxable equivalent	$	86,525		$	92,700		$	76,818		$	331,524		$	266,245
Total revenue:
Net interest income	$	86,285		$	92,452		$	76,604		$	330,621		$	265,330
Add: Non-interest income		14,503			12,376			11,455			56,315		$	57,314
Total revenue	$	100,788		$	104,828		$	88,059		$	386,936		$	322,644
Tangible common stockholders' equity:
Total stockholders' equity	$	990,151		$	919,945		$	765,816		$	990,151		$	765,816
Less: Goodwill and other intangibles		203,478			205,028			158,887			203,478			158,887
Tangible common stockholders' equity	$	786,673		$	714,917		$	606,929		$	786,673		$	606,929
Tangible assets:
Total assets	$	8,881,967		$	8,943,368		$	7,362,941		$	8,881,967		$	7,362,941
Less: Goodwill and other intangibles		203,478			205,028			158,887			203,478			158,887
Tangible assets	$	8,678,489		$	8,738,340		$	7,204,054		$	8,678,489		$	7,204,054
Average tangible common stockholders' equity:
Average total stockholders' equity	$	935,197		$	924,278		$	748,292		$	863,092		$	776,225
Less: Average preferred stock		—			—			—			—			2,459
Less: Average goodwill and other intangibles		204,191			202,978			159,680			180,717			162,203
Average tangible common stockholders' equity	$	731,006		$	721,300		$	588,612		$	682,375		$	611,563
Average tangible assets:
Average total assets	$	8,787,636		$	8,634,345		$	7,266,053		$	8,048,331		$	7,018,779
Less: Average goodwill and other intangibles		204,191			202,978			159,680			180,717			162,203
Average tangible assets	$	8,583,445		$	8,431,367		$	7,106,373		$	7,867,614		$	6,856,576
Tangible net income available to common stockholders:
Net income available to common stockholders	$	29,604		$	28,222		$	24,367		$	107,878		$	87,758
Add: After-tax intangible asset amortization		1,138			1,137			1,170			4,408			4,890
Tangible net income available to common stockholders	$	30,742		$	29,359		$	25,537		$	112,286		$	92,648
Adjusted tangible net income available to common stockholders:
Tangible net income available to common stockholders	$	30,742		$	29,359		$	25,537		$	112,286		$	92,648
Impairment charges on assets held for sale and ROU assets		1,981			394			372			2,395			372
Merger-related expenses		1,035			6,307			538			9,222			538
Tax benefit on significant items		(793	)		(1,617	)		(118	)		(2,696	)		(118	)
Adjusted tangible net income available to common stockholders	$	32,965		$	34,443		$	26,329		$	121,207		$	93,440

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)	2023			2023			2022			2023			2022
Pre-tax pre-provision return on average assets:
Pre-tax pre-provision net income	$	47,204		$	46,937		$	37,559		$	177,333		$	138,562
Average total assets		8,787,636			8,634,345			7,266,053			8,048,331			7,018,779
Pre-tax pre-provision return on average assets		2.13	%		2.16	%		2.05	%		2.20	%		1.97	%
Adjusted pre-tax pre-provision return on average assets:
Adjusted pre-tax pre-provision net income	$	50,220		$	53,638		$	38,469		$	188,950		$	139,472
Average total assets		8,787,636			8,634,345			7,266,053			8,048,331			7,018,779
Adjusted pre-tax pre-provision return on average assets		2.27	%		2.46	%		2.10	%		2.35	%		1.99	%
Net interest margin, fully taxable equivalent:
Net interest income, fully taxable equivalent	$	86,525		$	92,700		$	76,818		$	331,524		$	266,245
Total average interest-earning assets		8,387,877			8,220,678			6,922,889			7,677,848			6,630,464
Net interest margin, fully taxable equivalent		4.09	%		4.47	%		4.40	%		4.32	%		4.01	%
Non-interest income to total revenues:
Non-interest income	$	14,503		$	12,376		$	11,455		$	56,315		$	57,314
Total revenues		100,788			104,828			88,059			386,936			322,644
Non-interest income to total revenues		14.39	%		11.81	%		13.01	%		14.55	%		17.76	%
Adjusted non-interest expense to average assets:
Adjusted non-interest expense	$	50,568		$	51,190		$	49,590		$	197,986		$	183,172
Average total assets		8,787,636			8,634,345			7,266,053			8,048,331			7,018,779
Adjusted non-interest expense to average assets		2.28	%		2.35	%		2.71	%		2.46	%		2.61	%
Adjusted efficiency ratio:
Adjusted non-interest expense excluding amortization of intangible assets	$	49,018		$	49,639		$	47,994		$	191,975		$	176,501
Total revenues		100,788			104,828			88,059			386,936			322,644
Adjusted efficiency ratio		48.64	%		47.35	%		54.50	%		49.61	%		54.70	%
Adjusted return on average assets:
Adjusted net income	$	31,827		$	33,306		$	25,159		$	116,799		$	88,746
Average total assets		8,787,636			8,634,345			7,266,053			8,048,331			7,018,779
Adjusted return on average assets		1.44	%		1.53	%		1.37	%		1.45	%		1.26	%
Adjusted return on average stockholders' equity:
Adjusted net income	$	31,827		$	33,306		$	25,159		$	116,799		$	88,746
Average stockholders' equity		935,197			924,278			748,292			863,092			776,225
Adjusted return on average stockholders' equity		13.50	%		14.30	%		13.34	%		13.53	%		11.43	%
Tangible common equity to tangible assets:
Tangible common equity	$	786,673		$	714,917		$	606,929		$	786,673		$	606,929
Tangible assets		8,678,489			8,738,340			7,204,054			8,678,489			7,204,054
Tangible common equity to tangible assets		9.06	%		8.18	%		8.42	%		9.06	%		8.42	%
Return on average tangible common stockholders' equity:
Tangible net income available to common stockholders	$	30,742		$	29,359		$	25,537		$	112,286		$	92,648
Average tangible common stockholders' equity		731,006			721,300			588,612			682,375			611,563
Return on average tangible common stockholders' equity		16.68	%		16.15	%		17.21	%		16.46	%		15.15	%
Adjusted return on average tangible common stockholders' equity:
Adjusted tangible net income available to common stockholders	$	32,965		$	34,443		$	26,329		$	121,207		$	93,440
Average tangible common stockholders' equity		731,006			721,300			588,612			682,375			611,563
Adjusted return on average tangible common stockholders' equity		17.89	%		18.95	%		17.75	%		17.76	%		15.28	%
Tangible book value per share:
Tangible common equity	$	786,673		$	714,917		$	606,929		$	786,673		$	606,929
Common shares outstanding		43,764,056			43,719,203			37,492,775			43,764,056			37,492,775
Tangible book value per share	$	17.98		$	16.35		$	16.19		$	17.98		$	16.19

4Q23 Earnings Presentation Exhibit 99.2

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, 2022. 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.

Performance Highlights Delivered Solid Full Year 2023 Results Reported net income of $107.9 million, or diluted EPS of $2.67, on revenue of $386.9 million Solid adjusted PTPP ROA(1) of 2.35%, ROA(1) of 1.45%, ROTCE(1) of 17.76% Net interest margin expanded 31 basis points to 4.31% Delivered full year loan growth of 23%, funded by high quality deposit base which grew 26% YoY Maintained strong capital ratios with CET1 at 10.35% and TCE/TA(1) at 9.06% Successfully completed $1.2 billion merger and integration of Inland Bancorp, Inc. Revenue Diluted EPS Efficiency ratio Capital Deposits Loans and Leases 20% Y/Y $386.9 million 14% Y/Y $2.67 Improved 237 bps Y/Y 52.62% $990.2 million $7.2 billion $6.7 billion 3 29% Y/Y 23% Y/Y 26% Y/Y Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix.

2.13% 2.27% Reported(1)(2) Adjusted(1)(2) 16.68% 17.88% Reported(1)(2) Adjusted(1)(2) ROTCE $0.68 $0.73 Reported Adjusted(1) 1.34% 1.44% Reported(2) Adjusted(1)(2) ROAA $29.6 million $31.8 million Reported Adjusted(1) 51.63% 48.64% Reported Adjusted(1) Efficiency Ratio Fourth Quarter 2023 Highlights 4 Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix. Annualized. Strong Financial Performance Net Income Diluted EPS PTPP ROAA 10.35% Common Equity Tier 1 +10% Increase in Tangible Book Value / Share QoQ +12.7% Increase in Deposits(2) +4.9% Increase in Loans and Leases(2) 93.4% Loan/deposit ratio GAAP EPS of $0.68; adjusted EPS(1) of $0.73 4Q23 earnings impacted by $1.0 million of merger-related expenses Record Pre-Tax Pre-Provision income (1) of $47.2 million; Pre-Tax Pre-Provision ROAA(1) of 2.13% Revenue of $100.8 million, up 20% YoY  Net interest income of $86.3 million, up 25% YoY Net interest margin (FTE)(1) of 4.09% Loan and lease yields stood at 7.42% Disciplined expense management with adjusted operating expenses(1): $50.6 million Adj. efficiency ratio(1): 48.64% Adj. NIE/AA(1): 2.28%, down 15 bps YoY

Loan and Lease Trends ($ in millions) Total Loans & Leases and Average Yield Portfolio Composition Total loans and leases were $6.7 billion at 4Q23, an increase of $81.7 million, or 4.9% annualized from 3Q23 Originated $240.6 million in new loans, net of loan sales in 4Q23 Production driven by commercial and lease originations of $86.6 million and $79.4 million, respectively Payoff activity increased by $67.6 million from 3Q23 to $252.3 million Cumulative Loan Beta(1): 42% Highlights Utilization Rates 55% LTM Average Originations and Payoffs Cumulative Beta excluding loan accretion is calculated as the change in yield on loans and leases from 4Q21 to 4Q23 divided by the change in average Fed Funds from 4Q21 to 4Q23. 5

(1) $ Balance % of Portfolio Unguaranteed $382.5 5.7% Guaranteed 70.8 1.1% Total SBA 7(a) Loans $453.3 6.8% Unguaranteed $40.3 0.6% Guaranteed 21.2 0.3% Total USDA Loans $61.5 0.9% Unguaranteed Loan Portfolio by Industry A leading SBA 7(a) lender for Government Fiscal Year 2023 #5 SBA 7(a) lender in the United States #1 SBA 7(a) and 504 lender in Illinois Closed $135.3 million in loan commitments in 4Q23, up 19% LQ and 12% YoY SBA 7(a) portfolio $453.3 million, down $8.4 million from 3Q23 ACL/Unguaranteed loan balance ~7.8% $1.7 billion in serviced government guaranteed loans for investors in 4Q23 Government-Guaranteed Lending ($ in millions) On Balance Sheet SBA 7(a) & USDA Loans Total SBC Closed Loan Commitments Highlights Represents sectors with less than 5% of the total portfolio. 6

Cost of Interest-Bearing Deposits Total deposits were $7.2 billion, up 12.8% annualized from 3Q23 Net deposit growth includes the redemption of $69.1 million in brokered CDs Commercial deposits accounted for 46.5% of total deposits and represent 77.5% of all non-interest-bearing deposits Cost of deposits increased 29 bps in 4Q23, due to mix changes Cumulative total deposit beta remains low at ~45% since the beginning of the current tightening cycle Deposit Trends ($ in millions) Deposit Composition Highlights Average Non-Interest-Bearing Deposits Deposit Beta(1) Interest-Bearing Deposits: 61% Total Deposits: 45% 7 Beta calculation is based on change in deposit cost divided by change in Fed Funds from 4Q21 to 4Q23.

Net interest income was $86.3 million, down 6.7% from 3Q23 Net interest margin decreased 38 basis points from 3Q23 to 4.08% Full year NIM expanded 31 bps to 4.31% Loan and lease yield stood at 7.42% Interest Rate Sensitivity Over a One-Year Time Horizon Static balance sheet: net interest income sensitivity reduced by 1.8% YoY Rates -100 bps: ~$12 million or ~3.3% decline in NII or ~$3.0 million per 25 bps Ramp -100 bps: ~$9 million or ~2.5% decline in NII or ~$2.25 million per 25 bps NIM Bridge Net Interest Income and Net Interest Margin Trends ($ in millions) Net Interest Income Highlights NIM, Yields, and Costs 8 Repricing Mix 0.01%

Government Guaranteed Loan Sales $89.1 million of guaranteed loans sold in 4Q23 Loans held for sale increased to $18.0 million in 4Q23 Non-interest income was $14.5 million, up 17.2% from 3Q23 Non-interest income levels excluding FV mark on loan servicing asset remained stable FV mark on net servicing asset improved by $2.4 million LQ $1.2 million gain on the change in fair value of equity securities Volume Sold and Average Net Premiums Non-Interest Income Trends ($ in millions) Total Non-Interest Income Highlights Net Gains on Sales of Loans 9 (1) Other includes net servicing losses for 4Q22 and 3Q23.

(1) Non-interest expenses decreased to $53.6 million from $57.9 million in 3Q23, primarily driven by merger-related expenses taken in Q3 $3.0 million decrease in salaries and employee benefits $1.5 million decrease in both data processing and legal, audit and other professional Excluding significant items of $3.0 million, adjusted non-interest expense(1) stood at $50.6 million; adjusted efficiency ratio(1): 48.64% Disciplined expense management with adjusted NIE/AA(1): 2.28%, down 7 bps LQ & 43 bps YoY Efficiency Ratio Non-Interest Expense Trends ($ in millions) Non-Interest Expense Highlights Non-Interest Expense Bridge 10 Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix. ($5.3) ($0.9) ($0.8) ($0.2) $1.0 $0.3 $1.6 $57.9 $53.6

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 Asset Quality Trends ($ in millions) Net Charge-offs NPLs / Total Loans & Leases 11 Allowance for Credit Losses (ACL)

Median: 63% Percent of Insured Deposits(2) Liquidity Position Strong Liquidity and Securities Portfolio Cash and cash equivalents of $226.1 million $1.4 billion investment portfolio (~99.9% AFS) $2.3 billion of available borrowing capacity Liquidity coverage of uninsured deposits ~126% as of quarter end Loans/Deposits ratio of 93.4%, down 182 basis points from 3Q23 Uninsured Deposits stood at 26.7% and trends well below all peer bank averages % of Uninsured Deposits Industry Comparisons(1) >$500B $250B - $500B $100B - $250B $50B - $100B $10B - $50B $1B - $10B Median 41.9% 32.5% 37.0% 38.5% 37.4% 30.8% Byline Bank 26.7% 26.7% 26.7% 26.7% 26.7% 26.7% 12 Source: SNL Financial, and company filings. Financial data as of quarter ended September 30, 2023 or most recent available. Source: Company’s 3Q23 Form 10-Q | Calculation: (total deposits uninsured deposits) / total consolidated deposits | Byline 2023 Proxy Peer Group. Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix. AFS Portfolio by Type HTM portfolio of $1.2 million ($8,000 in unrealized losses) Securities portfolio duration: 4.8 years; net of hedges: ~4.3 years Securities portfolio annual cash flow: ~$240 million Total securities yield of 2.55%, up 7 basis points from 3Q23 AOCI / TCE(3): ~12.7% Highlights

(1) Return on Average Tangible Common Equity Strong Capital Position Capital Ratios 13 Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix. Strong Capital Base Common Equity Tier 1 Capital Priorities: TCE operating target range(1) is between 8% and 9%: currently at 9.06% $990 million total stockholders’ equity $450 million of balance sheet hedges to protect market value risk 1. Fund Organic Growth 2. Dividend 3. M&A 4. Buyback (1)

Our Strategy Remains Consistent 14 Maintain Balance Sheet Strength Continue to Invest in the Business Capitalize on Market Opportunities Deliver Strong Financial Results Grow our Commercial Client Franchise 1 2 3 4 5 Leverage our Capabilities 6 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 financial results for our stockholders Leverage all our capabilities to deepen share of wallet and acquire new customers

4Q23 Earnings Presentation Appendix

Granular Deposit Base 16 Consumer Deposits, $3.1 billion Commercial Deposits, $2.8 billion ~73% of Total Deposits are FDIC Insured …with limited concentration and granular customer base providing a stable source of funding Consumer Deposits(1) $3.9 billion at 12/31/23 Granular Deposit Base ~$28,000 Average Account Balance Customer Base ~123,000 Consumer Accounts Total Franchise 48 Branches Commercial Deposits $3.3 billion at 12/31/23 Granular Deposit Base ~$121,000 Average Account Balance Customer Base ~27,000 Commercial Accounts Consumer Deposits, $3.9 billion Commercial Deposits, $3.3 billion Uninsured 8% d Total Deposits $7.2 Billion as of 12/31/23 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.

CRE Portfolio: NOO Office Represents 3.3% of Total Loans 17 Non-Owner Occupied Commercial Real Estate Portfolio ($ in millions) 12/31/23 Industrial / Warehouse $582.6 8.7% Multi-family 570.2 8.5% Retail 256.5 3.8% Office 223.9 3.3% Mixed Use 56.9 0.9% Senior Housing / Healthcare 38.4 0.6% Hotel / Motel 26.7 0.4% Other 219.5 3.3% Total $1,974.7 29.5% % of Total Loans Note: Non-Owner Occupied CRE Portfolio includes construction, land, multi-family and non-owner occupied (NOO). CRE portfolio includes owner occupied, non-owner occupied, non-farm, non-residential, construction, and multi-family loans. d Total Loans & Leases $6.7 Billion as of 12/31/23 Office CRE Loans by Size Size Weighted Average Risk Rating Number of Loans Balance Average Balance > $10 million 4.17 5 $74.2 $14.8 $5-$10 million 5.19 10 $76.5 $7.6 $2-$5 million 4.96 15 $52.0 $3.5 < $2 million 4.01 32 $21.2 $0.7 Total 4.69 62 $223.9 $6.7 ($ in millions)

12/31/23 9/30/23 Avg. Commitment $3.6 million $3.4 million ACL % 3.0% 2.8% NCO %(1) 2.57% 0.95% 30+ DLQ % 5.9% 9.8% NPL % 5.9% 4.5% Criticized % 22% 17% Office CRE Portfolio: Diversified Tenants and Markets NCOs / Average loans represents net charge-offs to average loans for the last twelve-month period. Tenant Classification ($ in millions) 12/31/23 Illinois $138.4 North Carolina 26.0 Wisconsin 14.5 New Jersey 11.0 Florida 10.9 Ohio 9.6 Iowa 5.2 Minnesota 3.2 New Mexico 2.2 West Virginia 1.1 Michigan 1.0 Tennessee 0.8 Total Office $223.9 CRE Office: Geographic Mix by State Office Portfolio Metrics Office Portfolio Market Type 18

Projected Acquisition Accounting Accretion Projections are updated quarterly, assumes no prepayments and are subject to change. 19 Projected Accretion(1) ($ in millions)

Financial Summary 20 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, 2023 2023 2022 2023 2022 Income Statement Net interest income $ 86,285 $ 92,452 $ 76,604 $ 330,621 $ 265,330 Provision for credit losses 7,235 8,803 5,826 31,653 23,879 Non-interest income 14,503 12,376 11,455 56,315 57,314 Non-interest expense 53,584 57,891 50,500 209,603 184,082 Income before provision for income taxes 39,969 38,134 31,733 145,680 114,683 Provision for income taxes 10,365 9,912 7,366 37,802 26,729 Net income 29,604 28,222 24,367 107,878 87,954 Diluted earnings per common share(1) $ 0.68 $ 0.65 $ 0.65 $ 2.67 $ 2.34 Balance Sheet Total loans and leases HFI $ 6,684,306 $ 6,613,303 $ 5,421,258 $ 6,684,306 $ 5,421,258 Total deposits 7,176,999 6,953,690 5,695,121 7,176,999 5,695,121 Tangible common equity(1) 786,673 714,917 606,929 786,673 606,929 Balance Sheet Metrics Loans and leases / total deposits 93.39% 95.21% 96.03% 93.39% 95.19% Tangible common equity / tangible assets(1) 9.06% 8.18% 8.42% 9.06% 8.42% Key Performance Ratios Net interest margin 4.08% 4.46% 4.39% 4.31% 4.01% Efficiency ratio 51.63% 53.75% 55.53% 52.62% 54.99% Adjusted efficiency ratio(1) 48.64% 47.35% 54.50% 49.61% 54.70% Non-interest income to total revenues 14.39% 11.81% 13.01% 14.55% 17.76% Non-interest expense to average assets 2.42% 2.66% 2.76% 2.60% 2.62% Return on average assets 1.34% 1.30% 1.33% 1.34% 1.25% Adjusted return on average assets(1) 1.44% 1.53% 1.37% 1.45% 1.26% Pre-tax pre-provision return on average assets (1) 2.13% 2.16% 2.05% 2.20% 1.97% Dividend payout ratio on common stock 13.24% 13.85% 13.85% 13.48% 3.85% Tangible book value per common share(1) $ 17.98 $ 16.35 $ 16.19 $ 17.98 $ 16.19

Non-GAAP Reconciliation 21 As of or For the Three Months Ended As of or For the Year Ended (dollars in thousands, except per share data) December 31, 2023 September 30, 2023 December 31, 2022 December 31, 2023 December 31, 2022 Net income and earnings per share excluding significant items Reported Net Income $ 29,604 $ 28,222 $ 24,367 $ 107,878 $ 87,954 Significant items: Impairment charges on ROU asset 1,981 394 372 2,395 372 Merger-related expenses 1,035 6,307 538 9,222 538 Tax benefit (793) (1,617) (118) (2,696) (118) Adjusted Net Income $ 31,827 $ 33,306 $ 25,159 $ 116,799 $ 88,746 Reported Diluted Earnings per Share $ 0.68 $ 0.65 $ 0.65 $ 2.67 $ 2.34 Significant items: Impairment charges on ROU asset 0.05 0.01 0.01 0.06 0.01 Merger-related expenses 0.02 0.15 0.01 0.23 0.01 Tax benefit (0.02) (0.04) — (0.07) — Adjusted Diluted Earnings per Share $ 0.73 $ 0.77 $ 0.67 $ 2.89 $ 2.36

Non-GAAP Reconciliation (continued) 22 As of or For the Three Months Ended As of or For the Year Ended (dollars in thousands) December 31, 2023 September 30, 2023 December 31, 2022 December 31, 2023 December 31, 2022 Adjusted non-interest expense: Non-interest expense $ 53,584 $ 57,891 $ 50,500 $ 209,603 $ 184,082 Significant items Less: Impairment charges on assets held for sale and ROU assets 1,981 394 372 2,395 372 Less: Merger-related expenses 1,035 6,307 538 9,222 538 Adjusted non-interest expense $ 50,568 $ 51,190 $ 49,590 $ 197,986 $ 183,172 Adjusted non-interest expense ex. amortization of intangible assets: Adjusted non-interest expense $ 50,568 $ 51,190 $ 49,590 $ 197,986 $ 183,172 Less: Amortization of intangible assets 1,550 1,551 1,596 6,011 6,671 Adjusted non-interest expense ex. amortization of intangible assets $ 49,018 $ 49,639 $ 47,994 $ 191,975 $ 176,501 Pre-tax pre-provision net income: Pre-tax income $ 39,969 $ 38,134 $ 31,733 $ 145,680 $ 114,683 Add: Provision for credit losses 7,235 8,803 5,826 31,653 23,879 Pre-tax pre-provision net income $ 47,204 $ 46,937 $ 37,559 $ 177,333 $ 138,562 Adjusted pre-tax pre-provision net income: Pre-tax pre-provision net income $ 47,204 $ 46,937 $ 37,559 $ 177,333 $ 138,562 Add: Impairment charges on assets held for sale and ROU assets 1,981 394 372 2,395 372 Add: Merger-related expenses 1,035 6,307 538 9,222 538 Adjusted pre-tax pre-provision net income $ 50,220 $ 53,638 $ 38,469 $ 188,950 $ 139,472 Tax equivalent net interest Income: Net interest income $ 86,285 $ 92,452 $ 76,604 $ 330,621 $ 265,330 Add: Tax-equivalent adjustment 240 248 214 903 915 Net interest income, fully taxable equivalent $ 86,525 $ 92,700 $ 76,818 $ 331,524 $ 266,245 Total revenues: Net interest income $ 86,285 $ 92,452 $ 76,604 $ 330,621 $ 265,330 Add: Non-interest income 14,503 12,376 11,455 56,315 57,314 Total revenues $ 100,788 $ 104,828 $ 88,059 $ 386,936 $ 322,644

Non-GAAP Reconciliation (continued) 23 As of or For the Three Months Ended As of or For the Year Ended (dollars in thousands) December 31, 2023 September 30, 2023 December 31, 2022 December 31, 2023 December 31, 2022 Tangible common stockholders' equity: Total stockholders' equity $ 990,151 $ 919,945 $ 765,816 $ 990,151 $ 765,816 Less: Goodwill and other intangibles 203,478 205,028 158,887 203,478 158,887 Tangible common stockholders' equity $ 786,673 $ 714,917 $ 606,929 $ 786,673 $ 606,929 Tangible assets: Total assets $ 8,881,967 $ 8,943,368 $ 7,362,941 $ 8,881,967 $ 7,362,941 Less: Goodwill and other intangibles 203,478 205,028 158,887 203,478 158,887 Tangible assets $ 8,678,489 $ 8,738,340 $ 7,204,054 $ 8,678,489 $ 7,204,054 Tangible assets, excluding accumulated other comprehensive loss: Tangible assets $ 8,678,489 $ 8,738,340 $ 7,204,054 $ 8,678,489 $ 7,204,054 Less: Accumulated other comprehensive loss (100,117) (142,159) (117,550) (100,117) (117,550) Tangible assets, excluding accumulated other comprehensive loss $ 8,778,606 $ 8,880,499 $ 7,321,604 $ 8,778,606 $ 7,321,604 Tangible common stockholders' equity, excluding accumulated other comprehensive loss: Tangible common stockholders' equity $ 786,673 $ 714,917 $ 606,929 $ 786,673 $ 606,929 Less: Accumulated other comprehensive loss (100,117) (142,159) (117,550) (100,117) (117,550) Tangible common stockholders' equity, excluding accumulated other comprehensive loss $ 886,790 $ 857,076 $ 724,479 $ 886,790 $ 724,479 Average tangible common stockholders' equity: Average total stockholders' equity $ 935,197 $ 924,278 $ 748,292 $ 863,092 $ 776,225 Less: Average goodwill and other intangibles 204,191 202,978 159,680 180,717 162,203 Average tangible common stockholders' equity $ 731,006 $ 721,300 $ 588,612 $ 682,375 $ 611,563 Average tangible assets: Average total assets $ 8,787,636 $ 8,634,345 $ 7,266,053 $ 8,048,331 $ 7,018,779 Less: Average goodwill and other intangibles 204,191 202,978 159,680 180,717 162,203 Average tangible assets $ 8,583,445 $ 8,431,367 $ 7,106,373 $ 7,867,614 $ 6,856,576 Tangible net income available to common stockholders: Net income available to common stockholders $ 29,604 $ 28,222 $ 24,367 $ 107,878 $ 87,758 Add: After-tax intangible asset amortization 1,138 1,137 1,170 4,408 4,890 Tangible net income available to common stockholders $ 30,742 $ 29,359 $ 25,537 $ 112,286 $ 92,648 Adjusted tangible net income available to common stockholders: Tangible net income available to common stockholders $ 30,742 $ 29,359 $ 25,537 $ 112,286 $ 92,648 Impairment charges on assets held for sale and ROU assets 1,981 394 372 2,395 372 Merger-related expenses 1,035 6,307 538 9,222 538 Tax benefit on significant items (793) (1,617) (118) (2,696) (118) Adjusted tangible net income available to common stockholders $ 32,965 $ 34,443 $ 26,329 $ 121,207 $ 93,440

Non-GAAP Reconciliation (continued) 24 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, 2023 September 30, 2023 December 31, 2022 December 31, 2023 December 31, 2022 Pre-tax pre-provision return on average assets: Pre-tax pre-provision net income $ 47,204 $ 46,937 $ 37,559 $ 177,333 $ 138,562 Average total assets 8,787,636 8,634,345 7,266,053 8,048,331 7,018,779 Pre-tax pre-provision return on average assets 2.13% 2.16% 2.05% 2.20% 1.97% Adjusted pre-tax pre-provision return on average assets: Adjusted pre-tax pre-provision net income $ 50,220 $ 53,638 $ 38,469 $ 188,950 $ 139,472 Average total assets 8,787,636 8,634,345 7,266,053 8,048,331 7,018,779 Adjusted pre-tax pre-provision return on average assets 2.27% 2.46% 2.10% 2.35% 1.99% Net interest margin, fully taxable equivalent Net interest income, fully taxable equivalent $ 86,525 $ 92,700 $ 76,818 $ 331,524 $ 266,245 Total average interest-earning assets 8,387,877 8,220,678 6,922,890 7,677,848 6,630,464 Net interest margin, fully taxable equivalent 4.09% 4.47% 4.40% 4.32% 4.01% Non-interest income to total revenues: Non-interest income $ 14,503 $ 12,376 $ 11,455 $ 56,315 $ 57,314 Total revenues 100,788 104,828 88,059 386,936 322,644 Non-interest income to total revenues 14.39% 11.81% 13.01% 14.55% 17.76% Adjusted non-interest expense to average assets: Adjusted non-interest expense $ 50,568 $ 51,190 $ 49,590 $ 197,986 $ 183,172 Average total assets 8,787,636 8,634,345 7,266,053 8,048,331 7,018,779 Adjusted non-interest expense to average assets 2.28% 2.35% 2.71% 2.46% 2.61% Adjusted efficiency ratio: Adjusted non-interest expense excluding amortization of intangible assets $ 49,018 $ 49,639 $ 47,994 $ 191,975 $ 176,501 Total revenues 100,788 104,828 88,059 386,936 322,644 Adjusted efficiency ratio 48.64% 47.35% 54.50% 49.61% 54.70% Adjusted return on average assets: Adjusted net income $ 31,827 $ 33,306 $ 25,159 $ 116,799 $ 88,746 Average total assets 8,787,636 8,634,345 7,266,053 8,048,331 7,018,779 Adjusted return on average assets 1.44% 1.53% 1.37% 1.45% 1.26% Adjusted return on average stockholders' equity: Adjusted net income $ 31,827 $ 33,306 $ 25,159 $ 116,799 $ 88,746 Average stockholders' equity 935,197 924,278 748,292 863,092 776,225 Adjusted return on average stockholders' equity 13.50% 14.30% 13.34% 13.53% 11.43%

Non-GAAP Reconciliation (continued) 25 As of or For the Three Months Ended As of or For the Year Ended December 31, 2023 September 30, 2023 December 31, 2022 December 31, 2023 December 31, 2022 Tangible common equity to tangible assets: Tangible common equity $ 786,673 $ 714,917 $ 606,929 $ 786,673 $ 606,929 Tangible assets 8,678,489 8,738,340 7,204,054 8,678,489 7,204,054 Tangible common equity to tangible assets 9.06% 8.18% 8.42% 9.06% 8.42% 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 $ 886,790 $ 857,076 $ 724,479 $ 886,790 $ 724,479 Tangible assets, excluding accumulated other comprehensive loss: 8,778,606 8,880,499 7,321,604 8,778,606 7,204,054 Tangible common stockholders' equity, excluding accumulated other comprehensive loss to tangible assets, excluding accumulated other comprehensive loss 10.10% 9.65% 9.90% 10.10% 10.06% Return on average tangible common stockholders' equity: Tangible net income available to common stockholders $ 30,742 $ 29,359 $ 25,537 $ 112,286 $ 92,648 Average tangible common stockholders' equity 731,006 721,300 588,612 682,375 611,563 Return on average tangible common stockholders' equity 16.68% 16.15% 17.21% 16.46% 15.15% Adjusted return on average tangible common stockholders' equity: Adjusted tangible net income available to common stockholders $ 32,965 $ 34,443 $ 26,329 $ 121,207 $ 93,440 Average tangible common stockholders' equity 731,006 721,300 588,612 682,375 611,563 Adjusted return on average tangible common stockholders' equity 17.89% 18.95% 17.75% 17.76% 15.28% Tangible book value per share: Tangible common equity $ 786,673 $ 714,917 $ 606,929 $ 786,673 $ 606,929 Common shares outstanding 43,764,056 43,719,203 37,492,775 43,764,056 37,492,775 Tangible book value per share $ 17.98 $ 16.35 $ 16.19 $ 17.98 $ 16.19 Accumulated other comprehensive loss to tangible common equity: Accumulated other comprehensive loss $ 100,117 $ 142,159 $ 117,550 $ 100,117 $ 117,550 Tangible common equity 786,673 714,917 606,929 786,673 606,929 Accumulated other comprehensive loss to tangible common equity 12.7% 19.9% 19.4% 12.7% 19.4%

Document and Entity Information	Jan. 25, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Jan. 25, 2024
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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