- Source: Byline Bank
Byline Bank is a bank headquartered in Chicago, Illinois, United States. It is the primary subsidiary of Byline Bancorp, Inc., a bank holding company. As of 31 December 2019, it operated 57 branches, 56 of which were in the Chicago metropolitan area. It is the 4th largest Small Business Administration lender.
History
The company was founded in 1978 by the Fasseas family as Metropolitan Bank Group after the purchase of North Community Bank. The family grew the bank from a single location to more than 90 branches in the Chicago metropolitan area before suffering in the 2007–2008 financial crisis.
In 2009, it accepted $71.5 million from the Troubled Asset Relief Program. In 2013, BXM Holdings LLC, led by Roberto Herencia, purchased and recapitalized the bank with a $207 million investment.
A year before acquiring Ridgestone Bank, the company was renamed Byline Bancorp Inc. in 2015 and consolidated all its subsidiaries under the name Byline Bank.
In June 2017, the company became a public company via an initial public offering. In May 2018, the company acquired First Evanston Bancorp for $178.6 million in cash and stock.
In April 2019, the company acquired Oak Park River Forest Bank shares for $40.0 million in cash and stock. In December 2022, Byline entered merger agreement and acquired Inland Bank valued at approximately $165 million in cash and stock - the merger was completed in July 2023.
References
External links
Official website
Business data for Byline Bancorp: