Byline Bancorp, Inc. Reports Fourth Quarter and Full Year 2025 Financial Results

CHICAGO--( BUSINESS WIRE)--Byline Bancorp, Inc. (NYSE: BY), today reported:

At or for the quarter

Full Year Highlights

(compared to prior year)

4Q25

3Q25

4Q24

Financial Results ($ in thousands)

• Delivered solid full year 2025 results

reflecting record revenues of $446.3 million

Net interest income

101,255

99,890

88,524

Non-interest income

15,750

15,845

16,149

Total revenue (1)

117,005

115,735

104,673

• Net income increased 7.7% to $130.1 million

Non-interest expense (NIE)

60,369

60,518

57,431

Pre-tax pre-provision net income (PTPP) (1)

56,636

55,217

47,242

• PTPP net income of $209.4 million (1), up 11.3%

Provision for credit losses

9,702

5,298

6,878

Provision for income taxes

12,413

12,719

10,044

• Net interest income up $37.3 million,

or 10.7%; NIM up 25 bps to 4.22%

Net income

34,521

37,200

30,320

Per Share

• Generated full year positive operating leverage

Diluted earnings per share (EPS)

0.76

0.82

0.69

Dividends declared per common share

0.10

0.09

• TBV per common share of $23.44 (1), up 16.7%

Book value per common share

27.84

26.99

24.55

Tangible book value per common share (1)

23.44

22.58

20.09

Fourth Quarter Highlights

(compared to prior quarter)

Balance Sheet & Credit Quality ($ in thousands)

• Net interest income of $101.3 million, an

increase of $1.4 million, or 1.4%

Total deposits

7,647,443

7,828,197

7,458,628

Total loans and leases

7,522,990

7,461,321

6,910,022

Net charge-offs

6,707

7,107

7,792

• NIM expanded eight bps to 4.35%

Allowance for credit losses (ACL)

108,834

105,717

97,988

ACL to total loans and leases held for investment

1.45%

1.42%

• PTPP ROAA of 2.32% (1), 13th consecutive

quarter greater than 2.00%

Select Ratios (annualized where applicable)

Efficiency ratio (1)

50.32%

51.00%

53.58%

• Efficiency ratio (1) of 50.32%

Return on average assets (ROAA)

1.41%

1.52%

1.31%

Return on average stockholders' equity

10.61%

12.21%

11.03%

• TCE/TA of 11.29% (1), increase of 51 bps

Return on average tangible common equity (1)

12.97%

15.11%

13.92%

Net interest margin (NIM)

4.35%

4.27%

4.01%

• CET 1 of 12.33%, up 18 bps

Common equity to total assets

13.14%

12.61%

11.49%

Tangible common equity to tangible assets (1)

11.29%

10.78%

9.61%

• Repurchased 345,706 common shares

Common equity tier 1

12.33%

12.15%

11.70%

CEO/President Commentary

Roberto R. Herencia, Executive Chairman and CEO of Byline Bancorp, commented, "Throughout 2025 we advanced our strategy of becoming the preeminent commercial bank in Chicago and delivering strong financial results. We made significant progress across our strategic priorities—deepening our commercial presence, growing customers, and executing initiatives that strengthened our franchise. As we enter 2026, we are operating from a position of strength, remain focused on consistent execution of our strategy, supporting our customers, and driving long‑term value for our stockholders."

Alberto J. Paracchini, President of Byline Bancorp, added, "Our fourth quarter performance reflected strong execution across our business units. We delivered solid earnings, maintained excellent profitability while strengthening our balance sheet. The quarter capped a year of meaningful progress, and we are well positioned to support our customers and drive profitable growth in 2026. I want to thank all our employees for their dedication, talent, and commitment, which remain central to our success."

Board Declares Cash Dividend of $0.12 per Share

On January 21, 2026, the Company's Board of Directors declared a cash dividend of $0.12 per share, which represents a 20.0% increase from the previous quarterly dividend of $0.10 per share. The dividend will be paid on February 17, 2026, to stockholders of record of the Company's common stock as of February 3, 2026.

STATEMENTS OF OPERATIONS HIGHLIGHTS

Net Interest Income

Quarterly results

Net interest income for the fourth quarter of 2025 was $101.3 million, an increase of $1.4 million, or 1.4%, from the third quarter of 2025. The increase in net interest income was due to lower rates paid on deposits and the redemption of the subordinated note issued during 2020 on October 1, 2025, offset by lower interest income on loans and leases and on securities.

Tax-equivalent net interest margin (1) for the fourth quarter of 2025 was 4.36%, an increase of eight basis points compared to the third quarter of 2025. The increase was primarily due to lower rates paid on deposits and lower costs of subordinated notes and debentures, offset by lower yields on loans and leases. Net loan accretion income contributed 10 basis points to the net interest margin for the quarter, a one basis point decrease over the prior quarter.

The average cost of total deposits was 1.97% for the fourth quarter of 2025, a decrease of 19 basis points compared to the third quarter of 2025, mainly as a result of a lower rates paid on money market accounts, and lower balances of, and rates paid on, brokered time deposits.

Full-year results

Net interest income for the year ended December 31, 2025 was $385.3 million, an increase of $37.3 million, or 10.7%, from the prior year. The increase in net interest income was primarily due to lower rates paid on deposits, and higher interest income reflecting growth in the loan and lease portfolio, offset by lower income on other interest and dividend income.

Tax-equivalent net interest margin (1) for the year ended December 31, 2025 was 4.23%, an increase of 25 basis points compared to the prior year. The increase was primarily a result of the changing interest rate environment, reflecting our lower reliance on brokered time deposits, offset by lower yields on loans and interest-bearing cash. Net loan accretion income contributed 11 basis points to the net interest margin for the year, a four basis point decrease over the prior year.

The average cost of total deposits was 2.17% for the year ended December 31, 2025, a decrease of 44 basis points compared to the prior year mainly as a result of lower balances and rates paid on time deposits.

Provision for Credit Losses

Quarterly results

The provision for credit losses was $9.7 million for the fourth quarter of 2025, an increase of $4.4 million compared to $5.3 million for the third quarter of 2025, mainly due to higher non-performing loans and leases.

Full-year result

The provision for credit losses was $36.1 million for the year ended December 31, 2025, an increase of $9.1 million compared to $27.0 million for the prior year, mainly due to growth in the loan and leases portfolio and higher non-performing loans and leases.

Non-interest Income

Quarterly results

Non-interest income for the fourth quarter of 2025 was $15.7 million, a slight decrease of $95,000, or 0.6%, compared to $15.8 million for the third quarter of 2025. The modest decline in total non-interest income was primarily due to lower net gains on sales of loans, offset by higher other non-interest income and increases in the fair value of equity securities. Net gains on sales of loans totaled $5.4 million for the quarter, a decrease of $1.6 million, or 22.8%, compared to the prior quarter. This decrease was primarily due to lower premiums, mix and timing of loans sold. During the fourth quarter of 2025, we sold $78.9 million of U.S. government guaranteed loans compared to $92.9 million during the third quarter of 2025.

Full-year results

Non-interest income for the year ended December 31, 2025 was $60.9 million, an increase of $2.1 million, or 3.5%, compared to $58.9 million for the prior year. The increase in total non-interest income was primarily due to higher income on other non-interest income primarily driven by swap activity, and a lower downward revaluation on the loan servicing asset, offset by lower net gains on sales of loans. Net gains on sales of loans were $22.7 million for the current year, a decrease of $1.8 million, or 7.4% compared to the prior year, primarily due to lower premiums compared to the prior year. During 2025, we sold $315.0 million of U.S. government guaranteed loans compared to $314.8 million during the prior year.

Non-interest Expense

Quarterly results

Non-interest expense for the fourth quarter of 2025 was $60.4 million, a decrease of $149,000, or 0.2%, compared to $60.5 million for the third quarter of 2025. The decrease in non-interest expense was mainly due to lower loan and lease related expenses and lower data processing expenses, offset by higher salaries and benefits.

Our efficiency ratio was 50.32% (1) for the fourth quarter of 2025, compared to 51.00% (1) for the third quarter of 2025, an improvement of 68 basis points. The improvement in the efficiency ratio was mainly driven by decreased interest expense. Excluding significant items, our adjusted efficiency ratio was 50.15% (1) for the fourth quarter of 2025, compared to 50.27% (1) for the third quarter of 2025, an improvement of 12 basis points.

Full-year results

Non-interest expense for the year ended December 31, 2025 was $236.9 million, an increase of $18.1 million, or 8.3%, compared to $218.8 million for the year ended December 31, 2024. The increase in non-interest expense was mainly due to increased salaries and employee benefits, legal, audit, and other professional fees, and data processing, all primarily driven from merger-related activities.

Our efficiency ratio was 51.83% (1) for the year ended December 31, 2025, compared to 52.45% (1) for the year ended December 31, 2024, an improvement of 62 basis points. The improvement in the efficiency ratio was mainly driven by increased total revenues and lower interest expense. Excluding significant items, our adjusted efficiency ratio was 50.37% (1) for the year ended December 31, 2025, compared to 52.24% (1) for the year ended December 31, 2024, an improvement of 187 basis points, mainly due to higher revenues, lower interest expense, and lower adjusted non-interest expense.

Income Taxes

Quarterly results

We recorded income tax expense of $12.4 million during the fourth quarter of 2025, compared to $12.7 million during the third quarter of 2025. The effective tax rates were 26.4% and 25.5% for the fourth and third quarters of 2025, respectively.

Full-year results

We recorded income tax expense of $43.2 million during the year ended December 31, 2025, compared to $40.3 million during the year ended December 31, 2024. The effective tax rates were 24.9% and 25.0% for the years ended December 31, 2025 and December 31, 2024, respectively.

STATEMENTS OF FINANCIAL CONDITION HIGHLIGHTS

Assets

Total assets were $9.7 billion as of December 31, 2025, a decrease of $159.7 million, or 1.6%, compared to $9.8 billion at September 30, 2025, and an increase of $156.1 million, or 1.6% compared to $9.5 billion as of December 31, 2024.

The decrease for the current quarter was mainly due to a decrease in cash and cash equivalents of $112.1 million and a decrease in securities of $107.1 million, offset by a $65.5 million increase to net loans and leases.

The increase for the current year was mainly due to a $591.7 million increase in net loans and leases, offset by a decrease of $414.0 million to cash and cash equivalents.

Allowance for Credit Losses

The ACL was $108.8 million as of December 31, 2025, an increase of $3.1 million, or 2.9%, from $105.7 million at September 30, 2025, mainly due to higher non-performing loans, and an increase of $10.8 million, or 11.1%, from $98.0 million as of December 31, 2024.

Net loan and lease charge-offs during the fourth quarter of 2025 were $6.7 million, or 0.36% of average loans and leases, on an annualized basis, a decrease of $400,000 compared to net charge-offs of $7.1 million, or 0.38% of average loans and leases, during the third quarter of 2025. The decrease in net charge-offs for the quarter was due to lower charge-offs in the commercial real estate portfolio.

Net loan and leases charge-offs during the year ended December 31, 2025 were $28.1 million, or 0.39% of average loans and leases, a decrease of $3.9 million compared to net charge-offs of $32.0 million, or 0.47% of average loans and leases, during the year ended December 31, 2024. The decrease in net charge-offs for the year was mainly due to higher recoveries and a decrease in commercial and industrial charge-offs.

Asset Quality

Non-performing assets were $74.7 million, or 0.77% of total assets, as of December 31, 2025, an increase of $7.3 million from $67.4 million, or 0.69% of total assets, at September 30, 2025. The increase was mainly driven by one loan reclassified to non-performing, offset by decreases to other real estate owned. The government guaranteed portion of non-performing loans included in non-performing assets was $9.7 million at December 31, 2025, compared to $8.4 million at September 30, 2025, an increase of $1.3 million.

Non-performing assets increased $7.4 million compared to December 31, 2024, primarily due to increases in non-accrual in commercial and industrial and commercial real estate loans, offset by decreases in other real estate owned. The government guaranteed portion of non-performing loans included in non-performing assets decreased $146,000 during 2025, from $9.9 million as of December 31, 2024, to $9.7 million as of December 31, 2025.

Deposits and Other Liabilities

Total deposits decreased $180.8 million, or 2.3% to $7.6 billion at December 31, 2025 from $7.8 billion as of September 30, 2025, and increased $188.8 million or 2.5% from $7.5 billion as of December 31, 2024. The decrease in deposits during the fourth quarter was mainly due to decreases in non-interest-bearing demand accounts, and decreases to time deposits. The increase during the year was due primarily to deposits acquired through acquisition.

Total borrowings and other liabilities were $737.3 million at December 31, 2025, a decrease of $9.2 million from $746.5 million at September 30, 2025, and a decrease of $209.1 million from $946.4 million as of December 31, 2024. The decrease for the quarter was primarily driven by the redemption of $75.0 million of subordinated notes, offset by higher Federal Home Loan Bank ("FHLB") advances. The decrease for the year was primarily due to lower FHLB advances.

Stockholders’ Equity

Total stockholders’ equity was $1.3 billion at December 31, 2025, an increase of $30.2 million, or 2.4%, from September 30, 2025, primarily due to an increase in retained earnings from net income. Total stockholders' equity increased $176.4 million, or 16.2% from December 31, 2024, due to increased retained earnings from net income, lower unrealized loss on securities available-for-sale in accumulated other comprehensive income, and from common stock issued in connection with the First Security acquisition.

During the quarter and year ended December 31, 2025, we purchased 345,706 and 922,729 shares of our common stock at an average price of $28.21 and $25.72, per share, respectively.

(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.

Conference Call, Webcast and Slide Presentation

We will host a conference call and webcast at 9:00 a.m. Central Time on Friday, January 23, 2026, 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 535219. A recorded replay can be accessed through February 6, 2026, by dialing (866) 813-9403; passcode: 656595.

A slide presentation relating to our fourth quarter 2025 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 $9.6 billion in assets and operates 45 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

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, 2024. 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.

BYLINE BANCORP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (unaudited)

December 31,

2025

September 30,

2025

December 31,

2024

(dollars in thousands)

ASSETS

Cash and due from banks

60,184

70,406

58,759

Interest bearing deposits with other banks

88,911

190,774

504,379

Cash and cash equivalents

149,095

261,180

563,138

Equity and other securities, at fair value

10,660

10,461

9,865

Securities available-for-sale, at fair value

1,405,106

1,512,194

1,415,696

Securities held-to-maturity, at amortized cost

—

605

Restricted stock, at cost

21,314

15,934

27,452

Loans held for sale

13,621

20,566

3,200

Loans and leases:

Loans and leases

7,509,369

7,440,755

6,906,822

Allowance for credit losses - loans and leases

(108,834

)

(105,717

)

(97,988

)

Net loans and leases

7,400,535

7,335,038

6,808,834

Servicing assets, at fair value

19,234

19,019

18,952

Premises and equipment, net

57,988

58,785

60,502

Other real estate owned, net

3,394

4,220

5,170

Goodwill and other intangible assets, net

200,520

202,014

198,098

Bank-owned life insurance

107,462

106,575

100,083

Deferred tax assets, net

41,779

49,918

56,458

Accrued interest receivable and other assets

221,968

216,471

228,476

Total assets

9,652,676

9,812,375

9,496,529

LIABILITIES AND STOCKHOLDERS’ EQUITY

LIABILITIES

Non-interest-bearing demand deposits

1,818,888

1,932,869

1,756,098

Interest-bearing deposits

5,828,555

5,895,328

5,702,530

Total deposits

7,647,443

7,828,197

7,458,628

Other borrowings

419,598

361,286

618,773

Subordinated notes, net

73,940

148,971

74,040

Junior subordinated debentures issued to capital trusts, net

71,409

71,272

70,890

Accrued expenses and other liabilities

172,380

164,967

182,701

Total liabilities

8,384,770

8,574,693

8,405,032

STOCKHOLDERS’ EQUITY

Common stock

471

455

Additional paid-in capital

760,700

758,089

717,763

Retained earnings

645,724

615,784

533,901

Treasury stock

(65,914

)

(56,959

)

(46,935

)

Accumulated other comprehensive loss, net of tax

(73,075

)

(79,703

)

(113,687

)

Total stockholders’ equity

1,267,906

1,237,682

1,091,497

Total liabilities and stockholders’ equity

9,652,676

9,812,375

9,496,529

BYLINE BANCORP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

Three Months Ended

Year Ended

(dollars in thousands,

December 31,

2025

September 30,

2025

December 31,

2024

December 31,

2025

December 31,

2024

except per share data)

INTEREST AND DIVIDEND INCOME

Interest and fees on loans and leases

129,394

132,401

123,702

511,224

502,353

Interest on securities

12,431

13,289

11,710

51,754

43,218

Other interest and dividend income

2,375

2,936

4,191

9,242

20,358

Total interest and dividend income

144,200

148,626

139,603

572,220

565,929

INTEREST EXPENSE

Deposits

38,432

42,857

46,725

167,718

192,366

Other borrowings

1,639

1,502

1,466

6,372

13,669

Subordinated notes and debentures

2,874

4,377

2,888

12,782

11,848

Total interest expense

42,945

48,736

51,079

186,872

217,883

Net interest income

101,255

99,890

88,524

385,348

348,046

PROVISION FOR CREDIT LOSSES

9,702

5,298

6,878

36,102

27,041

Net interest income after provision for credit losses

91,553

94,592

81,646

349,246

321,005

NON-INTEREST INCOME

Fees and service charges on deposits

2,799

2,741

2,648

10,876

10,214

Loan servicing revenue

3,085

3,062

3,151

12,261

12,905

Loan servicing asset revaluation

(1,107

)

(1,294

)

(1,350

)

(5,602

)

(6,704

)

ATM and interchange fees

975

1,015

1,083

4,083

4,464

Net gains (losses) on sales of securities available-for-sale

—

(699

)

(21

)

(699

)

Change in fair value of equity securities, net

199

(298

)

732

795

1,122

Net gains on sales of loans

5,386

6,981

7,107

22,719

24,540

Wealth management and trust income

1,324

1,366

1,110

4,846

4,310

Other non-interest income

3,073

2,272

2,367

10,968

8,699

Total non-interest income

15,750

15,845

16,149

60,925

58,851

NON-INTEREST EXPENSE

Salaries and employee benefits

38,813

37,492

37,281

150,376

140,119

Occupancy and equipment expense, net

4,142

4,531

4,407

18,264

18,703

Impairment charge on assets held for sale

195

—

195

—

Loan and lease related expenses

584

1,274

660

3,623

2,789

Legal, audit, and other professional fees

4,088

3,876

3,358

16,058

13,428

Data processing

4,385

4,903

4,473

19,445

16,869

Net loss recognized on other real estate owned and other related expenses

528

617

654

1,143

568

Other intangible assets amortization expense

1,494

1,345

5,605

5,380

Other non-interest expense

6,140

6,331

5,253

22,209

20,921

Total non-interest expense

60,369

60,518

57,431

236,918

218,777

INCOME BEFORE PROVISION FOR INCOME TAXES

46,934

49,919

40,364

173,253

161,079

PROVISION FOR INCOME TAXES

12,413

12,719

10,044

43,202

40,320

NET INCOME

34,521

37,200

30,320

130,051

120,759

EARNINGS PER COMMON SHARE

Basic

0.77

0.82

0.69

2.90

2.78

Diluted

0.76

0.82

0.69

2.89

2.75

BYLINE BANCORP, INC. AND SUBSIDIARIES

SELECTED FINANCIAL DATA (unaudited)

As of or For the Three Months Ended

As of or For the Year Ended

December 31,

2025

September 30,

2025

December 31,

2024

December 31,

2025

December 31,

2024

(dollars in thousands, except share and per share data)

Earnings per Common Share

Basic earnings per common share

0.77

0.82

0.69

2.90

2.78

Diluted earnings per common share

0.76

0.82

0.69

2.89

2.75

Adjusted diluted earnings per common share (1)(3)

0.76

0.83

0.69

3.00

2.76

Weighted average common shares outstanding (basic)

44,980,736

45,102,828

43,656,793

44,798,651

43,448,856

Weighted average common shares outstanding (diluted)

45,330,163

45,372,602

44,179,818

45,063,611

43,853,939

Common shares outstanding

45,545,928

45,859,977

44,459,584

45,545,928

44,459,584

Cash dividends per common share

0.10

0.09

0.40

0.36

Dividend payout ratio on common stock

13.16

12.20

13.04

13.84

13.09

Book value per common share

27.84

26.99

24.55

27.84

24.55

Tangible book value per common share (1)

23.44

22.58

20.09

23.44

20.09

Key Ratios and Performance Metrics (annualized where applicable)

Net interest margin

4.35

4.27

4.01

4.22

3.97

Net interest margin, fully taxable equivalent (1)(4)

4.36

4.28

4.02

4.23

3.98

Average cost of deposits

1.97

2.16

2.48

2.17

2.61

Efficiency ratio (1)(2)

50.32

51.00

53.58

51.83

52.45

Adjusted efficiency ratio (1)(2)(3)

50.15

50.27

53.37

50.37

52.24

Non-interest income to total revenues (1)

13.46

13.69

15.43

13.65

14.46

Non-interest expense to average assets

2.47

2.48

2.38

Adjusted non-interest expense to average assets (1)(3)

2.47

2.44

2.47

2.41

2.37

Return on average stockholders' equity

10.61

12.21

11.03

10.86

11.61

Adjusted return on average stockholders' equity (1)(3)

10.65

12.42

11.10

11.28

11.68

Return on average assets

1.41

1.52

1.31

1.36

1.31

Adjusted return on average assets (1)(3)

1.42

1.54

1.32

1.41

1.32

Pre-tax pre-provision return on average assets (1)

2.32

2.25

2.04

2.19

2.05

Adjusted pre-tax pre-provision return on average assets (1)(3)

2.33

2.29

2.05

2.26

2.06

Return on average tangible common stockholders' equity (1)

12.97

15.11

13.92

13.47

14.85

Adjusted return on average tangible common stockholders' equity (1)(3)

13.02

15.36

14.02

13.97

14.94

Non-interest-bearing deposits to total deposits

23.78

24.69

23.54

23.78

23.54

Loans and leases held for sale and loans and lease held for investment to total deposits

98.37

95.31

92.64

98.37

92.64

Deposits to total liabilities

91.21

91.29

88.74

91.21

88.74

Deposits per branch

169,943

173,960

162,144

169,943

162,144

Asset Quality Ratios

Non-performing loans and leases to total loans and leases held for investment, net before ACL

0.95

0.85

0.90

0.95

0.90

Total non-performing assets as a percentage of total assets

0.77

0.69

0.71

0.77

0.71

ACL to total loans and leases held for investment, net before ACL

1.45

1.42

1.45

1.42

Net charge-offs to average total loans and leases held for investment, net before ACL - loans and leases

0.36

0.38

0.45

0.39

0.47

Capital Ratios

Common equity to total assets

13.14

12.61

11.49

13.14

11.49

Tangible common equity to tangible assets (1)

11.29

10.78

9.61

11.29

9.61

Leverage ratio

12.53

12.20

11.74

12.53

11.74

Common equity tier 1 capital ratio

12.33

12.15

11.70

12.33

11.70

Tier 1 capital ratio

13.29

13.12

12.73

13.29

12.73

Total capital ratio

15.34

15.81

14.74

15.34

14.74

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, 2025

September 30, 2025

December 31, 2024

(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

190,859

1,708

3.55

193,683

1,878

3.84

272,409

2,721

3.97

Loans and leases (1)

7,387,460

129,394

6.95

7,355,958

132,401

7.14

6,828,128

123,702

7.21

Taxable securities

1,505,617

12,296

3.24

1,585,013

13,491

3.38

1,529,134

12,317

3.20

Tax-exempt securities (2)

146,863

1,015

2.74

153,424

1,084

2.80

155,505

1,093

2.80

Total interest-earning assets

9,230,799

144,413

6.21

9,288,078

148,854

6.36

8,785,176

139,833

6.33

Allowance for credit losses - loans and leases

(108,557

)

(109,877

)

(100,281

)

All other assets

560,861

538,719

516,740

TOTAL ASSETS

9,683,103

9,716,920

9,201,635

LIABILITIES AND STOCKHOLDERS’ EQUITY

Deposits

Interest checking

890,025

3,686

1.64

834,763

3,682

1.75

717,222

3,478

1.93

Money market accounts

2,937,945

21,093

2.85

2,986,541

23,468

3.12

2,480,805

19,951

3.20

Savings

489,899

132

0.11

495,506

136

0.11

486,262

130

0.11

Time deposits

1,521,864

13,521

3.52

1,654,056

15,571

3.73

2,020,225

23,166

4.56

Total interest-bearing deposits

5,839,733

38,432

2.61

5,970,866

42,857

2.85

5,704,514

46,725

3.26

Other borrowings

332,284

1,639

1.96

307,457

1,502

1.94

301,959

1,466

1.93

Subordinated notes and debentures

145,297

2,874

7.85

190,074

4,377

9.14

144,853

2,888

7.93

Total borrowings

477,581

4,513

3.75

497,531

5,879

4.69

446,812

4,354

3.88

Total interest-bearing liabilities

6,317,314

42,945

2.70

6,468,397

48,736

2.99

6,151,326

51,079

3.30

Non-interest-bearing demand deposits

1,910,132

1,888,693

1,777,273

Other liabilities

164,868

151,540

179,011

Total stockholders’ equity

1,290,789

1,208,290

1,094,025

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

9,683,103

9,716,920

9,201,635

Net interest spread (3)

3.51

3.37

3.03

Net interest income, fully taxable equivalent

101,468

100,118

88,754

Net interest margin, fully taxable equivalent (2)(4)

4.36

4.28

4.02

Less: Tax-equivalent adjustment

213

0.01

228

0.01

230

0.01

Net interest income

101,255

99,890

88,524

Net interest margin (4)

4.35

4.27

4.01

Net loan accretion impact on margin

2,312

0.10

2,528

0.11

2,590

0.12

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, 2025

December 31, 2024

(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

175,760

6,270

3.57

346,777

15,635

4.51

Loans and leases (1)

7,226,607

511,224

7.07

6,786,547

502,353

7.40

Taxable securities

1,575,363

51,338

3.26

1,483,640

44,476

3.00

Tax-exempt securities (2)

152,466

4,289

2.81

157,050

4,386

2.79

Total interest-earning assets

9,130,196

573,121

6.28

8,774,014

566,850

6.46

Allowance for credit losses - loans and leases

(106,092

)

(101,695

)

All other assets

532,850

515,023

TOTAL ASSETS

9,556,954

9,187,342

LIABILITIES AND STOCKHOLDERS’ EQUITY

Deposits

Interest checking

828,122

14,181

1.71

695,156

14,442

2.08

Money market accounts

2,860,470

86,928

3.04

2,344,309

80,960

3.45

Savings

494,264

533

0.11

506,889

711

0.14

Time deposits

1,701,328

66,076

3.88

2,024,942

96,253

4.75

Total interest-bearing deposits

5,884,184

167,718

2.85

5,571,296

192,366

3.45

Other borrowings

319,151

6,372

2.00

442,364

13,648

3.09

Federal funds purchased

—

0.00

348

6.05

Subordinated notes and debentures

156,484

12,782

8.17

144,624

11,848

8.19

Total borrowings

475,635

19,154

4.03

587,336

25,517

4.34

Total interest-bearing liabilities

6,359,819

186,872

2.94

6,158,632

217,883

3.54

Non-interest-bearing demand deposits

1,833,596

1,802,258

Other liabilities

166,063

185,937

Total stockholders’ equity

1,197,476

1,040,515

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

9,556,954

9,187,342

Net interest spread (3)

3.34

2.92

Net interest income, fully taxable equivalent

386,249

348,967

Net interest margin, fully taxable equivalent (2)(4)

4.23

3.98

Less: Tax-equivalent adjustment

901

0.01

921

0.01

Net interest income

385,348

348,046

Net interest margin (4)

4.22

3.97

Net loan accretion impact on margin

10,413

0.11

13,511

0.15

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, 2025

September 30, 2025

December 31, 2024

(dollars in thousands)

Amount

% of Total

Amount

% of Total

Amount

% of Total

Originated loans and leases:

Commercial real estate

2,338,109

31.1

2,234,986

30.0

2,071,952

30.0

Residential real estate

567,158

7.6

552,984

7.4

513,422

7.4

Construction, land development, and other land

360,003

4.8

412,032

5.6

429,596

6.2

Commercial and industrial

2,856,214

38.0

2,804,434

37.7

2,509,083

36.3

Installment and other

3,470

0.0

2,431

0.0

3,847

0.1

Leasing financing receivables

752,306

10.0

750,531

10.1

715,899

10.4

Total originated loans and leases

6,877,260

91.5

6,757,398

90.8

6,243,799

90.4

Purchased credit deteriorated loans:

Commercial real estate

68,987

0.9

71,359

1.0

82,934

1.2

Residential real estate

20,788

0.3

24,061

0.3

30,515

0.4

Construction, land development, and other land

2,533

0.0

2,513

0.0

—

Commercial and industrial

12,570

0.2

19,193

0.3

14,081

0.2

Installment and other

0.0

105

0.0

Total purchased credit deteriorated loans

104,951

1.4

117,207

1.6

127,635

1.8

Acquired non-credit-deteriorated loans and leases:

Commercial real estate

200,089

2.7

215,801

2.9

199,531

2.9

Residential real estate

169,478

2.3

178,896

2.4

182,165

2.6

Construction, land development, and other land

45,542

0.6

50,493

0.7

59,673

0.9

Commercial and industrial

97,786

1.3

106,827

1.4

93,969

1.4

Installment and other

14,263

0.2

14,133

0.2

0.0

Leasing financing receivables

—

0.0

Total acquired non-credit-deteriorated loans and leases

527,158

7.1

566,150

7.6

535,388

7.8

Total loans and leases

7,509,369

100.0

7,440,755

100.0

6,906,822

100.0

Allowance for credit losses - loans and leases

(108,834

)

(105,717

)

(97,988

)

Total loans and leases, net of allowance for credit losses - loans and leases

7,400,535

7,335,038

6,808,834

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,

2025

September 30,

2025

December 31,

2024

December 31,

2025

December 31,

2024

(dollars in thousands)

ACL - loans and leases, beginning of period

105,717

107,727

98,860

97,988

101,686

Adjustment for acquired PCD loans

—

3,206

—

Provision for credit losses - loans and leases

9,824

5,097

6,920

35,754

28,286

Net charge-offs - loans and leases

(6,707

)

(7,107

)

(7,792

)

(28,114

)

(31,984

)

ACL - loans and leases, end of period

108,834

105,717

97,988

108,834

97,988

Net charge-offs - loans and leases to average total loans and leases held for investment, net before ACL

0.36

0.38

0.45

0.39

0.47

Provision for credit losses - loans and leases to net charge-offs - loans and leases during the period

1.46

0.72

0.89

1.27

0.88

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, 2025

Change from

(dollars in thousands)

December 31,

2025

September 30,

2025

December 31,

2024

September 30,

2025

December 31,

2024

Non-performing assets:

Non-accrual loans and leases

71,290

63,158

62,076

12.9

14.8

Past due loans and leases 90 days or more and still accruing interest

—

—%

Total non-performing loans and leases

71,290

63,158

62,076

12.9

14.8

Other real estate owned

3,394

4,220

5,170

(19.6

(34.4

Total non-performing assets

74,684

67,378

67,246

10.8

11.1

Total non-performing loans and leases as a percentage of total loans and leases

0.95

0.85

0.90

Total non-performing assets as a percentage of total assets

0.77

0.69

0.71

Allowance for credit losses - loans and lease as a percentage of non-performing loans and leases

152.66

167.38

157.85

Non-performing assets guaranteed by U.S. government:

Non-accrual loans guaranteed

9,716

8,417

9,862

15.4

(1.5

Past due loans 90 days or more and still accruing interest guaranteed

—

—%

Total non-performing loans guaranteed

9,716

8,417

9,862

15.4

(1.5

Total non-performing loans and leases not guaranteed as a percentage of total loans and leases

0.82

0.74

0.76

Total non-performing assets not guaranteed as a percentage of total assets

0.67

0.60

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

December 31, 2025

Change from

(dollars in thousands)

December 31,

2025

September 30,

2025

December 31,

2024

September 30,

2025

December 31,

2024

Non-interest-bearing demand deposits

1,818,888

1,932,869

1,756,098

(5.9

3.6

Interest-bearing checking accounts

878,638

868,922

767,835

1.1

14.4

Money market demand accounts

2,942,927

2,957,995

2,518,157

(0.5

16.9

Other savings

489,504

488,894

483,650

0.1

1.2

Time deposits (below $250,000)

1,096,015

1,151,764

1,498,277

(4.8

(26.8

Time deposits ($250,000 and above)

421,471

427,753

434,611

(1.5

(3.0

Total deposits

7,647,443

7,828,197

7,458,628

(2.3

2.5

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 non-interest expense, adjusted non-interest expense excluding amortization of intangible assets, adjusted efficiency ratio, adjusted non-interest expense to average assets, tax equivalent net interest income, 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 net income, adjusted pre-tax pre-provision net income, pre-tax pre-provision return on average assets, adjusted pre-tax pre-provision return on average assets, tangible common equity, tangible assets, tangible net income available to common stockholders, adjusted tangible net income available to common stockholders, 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,

2025

September 30,

2025

December 31,

2024

December 31,

2025

December 31,

2024

(dollars in thousands, except per share data)

Net income and earnings per share excluding significant items:

Reported Net Income

34,521

37,200

30,320

130,051

120,759

Significant items:

Impairment charges on assets held for sale and ROU assets

195

—

195

194

Merger-related expenses

—

218

5,087

629

Secondary public offering of common stock expenses

—

413

—

Loss on extinguishment of debt

—

843

—

843

—

Tax benefit

(50

)

(221

)

(1,522

)

(85

)

Adjusted Net Income

34,666

37,822

30,537

135,067

121,497

Reported Diluted Earnings per Share

0.76

0.82

0.69

2.89

2.75

Significant items:

Impairment charges on assets held for sale and ROU assets

—

Merger-related expenses

—

0.11

0.01

Secondary public offering of common stock expenses

—

0.01

—

Loss on extinguishment of debt

—

0.02

—

0.02

—

Tax benefit

—

(0.01

)

—

(0.03

)

—

Adjusted Diluted Earnings per Share

0.76

0.83

0.69

3.00

2.76

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,

2025

September 30,

2025

December 31,

2024

December 31,

2025

December 31,

2024

ratios annualized, where applicable)

Adjusted non-interest expense:

Non-interest expense

60,369

60,518

57,431

236,918

218,777

Less: Impairment charges on assets held for sale and ROU assets

195

—

195

194

Less: Merger-related expenses

—

218

5,087

629

Less: Secondary public offering of common stock expenses

—

413

—

Less: Loss on extinguishment of debt

—

843

—

843

—

Adjusted non-interest expense

60,174

59,675

57,213

230,380

217,954

Adjusted non-interest expense excluding amortization of intangible assets:

Adjusted non-interest expense

60,174

59,675

57,213

230,380

217,954

Less: Amortization of intangible assets

1,494

1,345

5,605

5,380

Adjusted non-interest expense excluding amortization of intangible assets

58,680

58,181

55,868

224,775

212,574

Pre-tax pre-provision net income:

Pre-tax income

46,934

49,919

40,364

173,253

161,079

Add: Provision for credit losses

9,702

5,298

6,878

36,102

27,041

Pre-tax pre-provision net income

56,636

55,217

47,242

209,355

188,120

Adjusted pre-tax pre-provision net income:

Pre-tax pre-provision net income

56,636

55,217

47,242

209,355

188,120

Add: Impairment charges on assets held for sale and ROU assets

195

—

195

194

Add: Merger-related expenses

—

218

5,087

629

Add: Secondary public offering of common stock expenses

—

413

—

Add: Loss on extinguishment of debt

—

843

—

843

—

Adjusted pre-tax pre-provision net income

56,831

56,060

47,460

215,893

188,943

Tax equivalent net interest income:

Net interest income

101,255

99,890

88,524

385,348

348,046

Add: Tax-equivalent adjustment

213

228

230

901

921

Net interest income, fully taxable equivalent

101,468

100,118

88,754

386,249

348,967

Total revenue:

Net interest income

101,255

99,890

88,524

385,348

348,046

Add: Non-interest income

15,750

15,845

16,149

60,925

58,851

Total revenue

117,005

115,735

104,673

446,273

406,897

Tangible common stockholders' equity:

Total stockholders' equity

1,267,906

1,237,682

1,091,497

1,267,906

1,091,497

Less: Goodwill and other intangibles

200,520

202,014

198,098

200,520

198,098

Tangible common stockholders' equity

1,067,386

1,035,668

893,399

1,067,386

893,399

Tangible assets:

Total assets

9,652,676

9,812,375

9,496,529

9,652,676

9,496,529

Less: Goodwill and other intangibles

200,520

202,014

198,098

200,520

198,098

Tangible assets

9,452,156

9,610,361

9,298,431

9,452,156

9,298,431

Average tangible common stockholders' equity:

Average total stockholders' equity

1,290,789

1,208,290

1,094,025

1,197,476

1,040,515

Less: Average goodwill and other intangibles

201,251

202,723

198,697

201,328

200,740

Average tangible common stockholders' equity

1,089,538

1,005,567

895,328

996,148

839,775

Average tangible assets:

Average total assets

9,683,103

9,716,920

9,201,635

9,556,954

9,187,342

Less: Average goodwill and other intangibles

201,251

202,723

198,697

201,328

200,740

Average tangible assets

9,481,852

9,514,197

9,002,938

9,355,626

8,986,602

Tangible net income:

Net income available to common stockholders

34,521

37,200

30,320

130,051

120,759

Add: After-tax intangible asset amortization

1,104

1,103

1,015

4,140

3,974

Tangible net income

35,625

38,303

31,335

134,191

124,733

Adjusted tangible net income:

Tangible net income

35,625

38,303

31,335

134,191

124,733

Add: Impairment charges on assets held for sale and ROU assets

195

—

195

194

Add: Merger-related expenses

—

218

5,087

629

Add: Secondary public offering of common stock expenses

—

413

—

Add: Loss on extinguishment of debt

—

843

—

843

—

Add: Tax benefit on significant items

(50

)

(221

)

(1,522

)

(85

)

Adjusted tangible net income

35,770

38,925

31,552

139,207

125,471

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,

2025

September 30,

2025

December 31,

2024

December 31,

2025

December 31,

2024

data, ratios annualized, where applicable)

Pre-tax pre-provision return on average assets:

Pre-tax pre-provision net income

56,636

55,217

47,242

209,355

188,120

Average total assets

9,683,103

9,716,920

9,201,635

9,556,954

9,187,342

Pre-tax pre-provision return on average assets

2.32

2.25

2.04

2.19

2.05

Adjusted pre-tax pre-provision return on average assets:

Adjusted pre-tax pre-provision net income

56,831

56,060

47,460

215,893

188,943

Average total assets

9,683,103

9,716,920

9,201,635

9,556,954

9,187,342

Adjusted pre-tax pre-provision return on average assets

2.33

2.29

2.05

2.26

2.06

Net interest margin, fully taxable equivalent:

Net interest income, fully taxable equivalent

101,468

100,118

88,754

386,249

348,967

Total average interest-earning assets

9,230,799

9,288,078

8,785,176

9,130,196

8,774,014

Net interest margin, fully taxable equivalent

4.36

4.28

4.02

4.23

3.98

Non-interest income to total revenues:

Non-interest income

15,750

15,845

16,149

60,925

58,851

Total revenues

117,005

115,735

104,673

446,273

406,897

Non-interest income to total revenues

13.46

13.69

15.43

13.65

14.46

Adjusted non-interest expense to average assets:

Adjusted non-interest expense

60,174

59,675

57,213

230,380

217,954

Average total assets

9,683,103

9,716,920

9,201,635

9,556,954

9,187,342

Adjusted non-interest expense to average assets

2.47

2.44

2.47

2.41

2.37

Adjusted efficiency ratio:

Adjusted non-interest expense excluding amortization of intangible assets

58,680

58,181

55,868

224,775

212,574

Total revenues

117,005

115,735

104,673

446,273

406,897

Adjusted efficiency ratio

50.15

50.27

53.37

50.37

52.24

Adjusted return on average assets:

Adjusted net income

34,666

37,822

30,537

135,067

121,497

Average total assets

9,683,103

9,716,920

9,201,635

9,556,954

9,187,342

Adjusted return on average assets

1.42

1.54

1.32

1.41

1.32

Adjusted return on average stockholders' equity:

Adjusted net income

34,666

37,822

30,537

135,067

121,497

Average stockholders' equity

1,290,789

1,208,290

1,094,025

1,197,476

1,040,515

Adjusted return on average stockholders' equity

10.65

12.42

11.10

11.28

11.68

Tangible common equity to tangible assets:

Tangible common equity

1,067,386

1,035,668

893,399

1,067,386

893,399

Tangible assets

9,452,156

9,610,361

9,298,431

9,452,156

9,298,431

Tangible common equity to tangible assets

11.29

10.78

9.61

11.29

9.61

Return on average tangible common stockholders' equity:

Tangible net income available to common stockholders

35,625

38,303

31,335

134,191

124,733

Average tangible common stockholders' equity

1,089,538

1,005,567

895,328

996,148

839,775

Return on average tangible common stockholders' equity

12.97

15.11

13.92

13.47

14.85

Adjusted return on average tangible common stockholders' equity:

Adjusted tangible net income available to common stockholders

35,770

38,925

31,552

139,207

125,471

Average tangible common stockholders' equity

1,089,538

1,005,567

895,328

996,148

839,775

Adjusted return on average tangible common stockholders' equity

13.02

15.36

14.02

13.97

14.94

Tangible book value per share:

Tangible common equity

1,067,386

1,035,668

893,399

1,067,386

893,399

Common shares outstanding

45,545,928

45,859,977

44,459,584

45,545,928

44,459,584

Tangible book value per share

23.44

22.58

20.09

23.44

20.09