The following is a summary of the Byline Bancorp, Inc. (BY) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Byline Bancorp reported Q3 net income of $30.3 million, or $0.69 per diluted share, with total revenue at $102 million.

• Excluding transaction-related charges, net income was $30.7 million, or $0.70 per diluted share.

• Net interest income stood at $87.5 million for Q3, up by 1% from the prior quarter.

• The efficiency ratio remained stable at 52%.

Business Progress:

• Announced the merger with First Security, adding approximately $355 million in assets and $323 million in deposits.

• Business development activity remained healthy, driving commercial and leasing teams and government-guaranteed lending business.

• Total deposits increased to $7.5 billion, growing by $151 million from the second quarter.

• Loans remained relatively flat at $6.9 billion, with average balances growing modestly for the quarter.

Opportunities:

• The merger with First Security enhances Byline Bancorp's commercial banking presence in Chicago.

• Stronger customer deposit growth contributes to a healthier loan-to-deposit ratio, aligning with future business development.

Risks:

• Loan growth may face headwinds from elevated payoff activities and broader economic influences.

• Margin compression due to rising interest costs could impact profitability in the short term.

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