BYMEDIUM SIGNALFINANCIAL10-K

Byline Bank completed the acquisition of First Security Bancorp in April 2025, driving balance sheet growth while cash position declined substantially and credit provisions increased meaningfully.

The First Security acquisition appears to be the primary driver of the financial changes, expanding the loan portfolio and strengthening equity capital. However, the substantial decline in cash reserves and notable increase in credit loss provisions suggest either acquisition-related impacts or deteriorating credit conditions that warrant monitoring.

Comparing 2026-02-27 vs 2025-02-28View on EDGAR →
FINANCIAL ANALYSIS

The bank's balance sheet expanded through acquisition activity, with stockholders' equity growing 16.2% to $1.3 billion, though cash and equivalents declined substantially to $149.1 million. Credit loss provisions increased meaningfully by 42.1% to $32.2 million, while operating cash flow declined modestly to $140.3 million. The overall picture reflects acquisition-driven growth tempered by higher credit costs and reduced liquidity buffers.

FINANCIAL STATEMENT CHANGES
Cash & Equivalents
Balance Sheet
-73.5%
$563.1M→$149.1M

Cash declined 73.5% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

Provision for Credit Losses
P&L
+42.1%
$22.7M→$32.2M

Credit loss provisions surged 42.1% — management flagging significant deterioration in loan quality ahead.

Operating Cash Flow
Cash Flow
-19.9%
$175.2M→$140.3M

Operating cash flow softened — monitor whether temporary working capital timing or structural deterioration.

Stockholders Equity
Balance Sheet
+16.2%
$1.1B→$1.3B

Equity base grew 16.2% — retained earnings accumulation or equity issuance strengthening the balance sheet.

LANGUAGE CHANGES
NEW — 2026-02-27
PRIOR — 2025-02-28
ADDED
Byline Bank was the tenth most active originator of SBA 7(a) loans in the country and the most active SBA 7(a) lender in Illinois, as reported by the SBA for its fiscal year ended September 30, 2025.
As of December 31, 2025, we had consolidated total assets of $9.7 billion, total gross loans and leases outstanding of $7.5 billion, total deposits of $7.6 billion, and total stockholders equity of $1.3 billion.
As of December 31, 2025, commercial deposits accounted for 43.0% of total deposits and were 85.1% of non-interest bearing deposits.
We have successfully completed a number of strategic acquisitions since our recapitalization in 2013, which include: Year Company Acquired 2025 First Security Bancorp, Inc.
2014 Baytree Leasing Company LLC On April 1, 2025, we completed our acquisition of First Security Bancorp, Inc., a Delaware corporation ("First Security Bancorp"), and First Security Bancorp's wholly-owned bank subsidiary, First Security Trust and Savings Bank ( First Security ), an Illinois chartered bank (collectively "First Security acquisition" or "acquisition of First Security").
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REMOVED
supervision, examination and enforcement priorities of the federal banking agencies in regard to financial services companies and/or the products and services offered by financial services companies; changes in Small Business Administration ("SBA") and U.S.
Byline Bank was the twelfth most active originator of SBA loans in the country and the most active SBA lender in Illinois, as reported by the SBA its the fiscal year ended September 30, 2024.
As of December 31, 2024, we had consolidated total assets of $9.5 billion, total gross loans and leases outstanding of $6.9 billion, total deposits of $7.5 billion, and total stockholders equity of $1.1 billion.
As of December 31, 2024, commercial deposits accounted for 45.0% of total deposits and were 80.8% of non-interest bearing deposits.
We have successfully completed a number of strategic acquisitions since our recapitalization in 2013, which include: Year Company Acquired 2023 Inland Bancorp, Inc.
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