Byline Bank is a bank headquartered in

Chicago (''City in a Garden''); I Will , image_map = , map_caption = Interactive Map of Chicago , coordinates = , coordinates_footnotes = , subdivision_type = Country , subdivision_name ...

, Illinois, United States. It is the primary subsidiary of Byline Bancorp, Inc., a

bank holding company A bank holding company is a company that controls one or more banks, but does not necessarily engage in banking itself. The compound bancorp (''banc''/''bank'' + '' corp ration') is often used to refer to these companies as well. United States ...

. , it operated 57

branches A branch, sometimes called a ramus in botany, is a woody structural member connected to the central trunk of a tree (or sometimes a shrub). Large branches are known as boughs and small branches are known as twigs. The term ''twig'' usually ...

, 56 of which were in the

Chicago metropolitan area The Chicago metropolitan area, also colloquially referred to as Chicagoland, is a metropolitan area in the Midwestern United States. Encompassing 10,286 sq mi (28,120 km2), the metropolitan area includes the city of Chicago, its suburbs and hi ...

. It is the 4th largest

Small Business Administration The United States Small Business Administration (SBA) is an independent agency of the United States government that provides support to entrepreneurs and small businesses. The mission of the Small Business Administration is "to maintain and stren ...

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

before suffering in the

financial crisis of 2007-08 Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of fin ...

. In 2009, the company accepted $71.5 million from the

Troubled Asset Relief Program The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase toxic assets and equity from financial institutions to strengthen its financial sector that was passed by Congress and signed into law by President G ...

. In 2013, BXM Holdings LLC, led by Roberto Herencia, purchased and recapitalized the bank with a $207 million investment. In 2015, the company was renamed Byline Bancorp Inc. and consolidated all its subsidiaries under the name Byline Bank. In 2016, the company acquired Ridgestone Bank. In June 2017, the company became a

public company A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (l ...

via an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

. 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 Inland Bank & Trust was an Oak Brook, Illinois finance company controlled by Inland Real Estate Group until mid-2023. With all of its ten branches located in Chicago's western suburbs, the bank invested approximately one-third of its assets in com ...

valued at approximately $165 million in cash and stock.

References

External links

* {{Authority control 1978 establishments in Illinois 2017 initial public offerings American companies established in 1978 Banks established in 1978 Banks based in Chicago Companies listed on the New York Stock Exchange