Founded in 1978, Byline Bancorp, Inc. (NYSE: BY) (“Byline” or “the company”) is a BHC that primarily reflects the operations of its lead subsidiary, Byline Bank (“the bank”), which operates 45 branches in the Chicago and Milwaukee metro regions. Following a 2013 recapitalization led by some of the current executives and board members, which continues to result in a significant level of insider ownership (~30%), Byline has achieved significant balance sheet growth, including six bank acquisitions that have strengthened its presence in Chicago and diversified its business lines. In 2Q25, BY closed the acquisition of First Security Bancorp, Inc. (~$313 million in assets), adding a strong core deposit base, liquidity to leverage, and stronger presence in Chicago’s western suburbs. This deal moved Byline closer to the $10 billion asset threshold, for which management has been actively preparing through investments in infrastructure, risk systems, and talent.…
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