8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): October 28, 2021

BYLINE BANCORP, INC.

(Exact Name of Registrant as Specified in Its Charter)

Delaware

(State or Other Jurisdiction

of Incorporation)

001-38139	36-3012593
(Commission File Number)	(I.R.S. Employer Identification No.)
180 North LaSalle Street, Suite 300
Chicago, Illinois	60601
(Address of Principal Executive Offices)	(Zip Code)

(773) 244-7000

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock	BY	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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  Item 2.02.   Results of Operations and Financial Condition.

On October 28, 2021, Byline Bancorp, Inc., (“the Company”) issued a press release announcing its financial results for the third quarter ended September 30, 2021. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference.

On October 28, 2021, the Company made available on its website a slide presentation regarding the Company’s third quarter 2021 financial results, which will be used as part of a publicly accessible conference call on October 29, 2021. A copy of the slide presentation is attached as Exhibit 99.2 and is incorporated herein by reference.

The information included in this Current Report on Form 8-K (including the information in the attached exhibits 99.1 and 99.2) is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in any such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.	Description
99.1		Third quarter 2021 financial results press release, dated October 28, 2021
99.2		Slide Presentation regarding third quarter 2021 financial results
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

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 judgement 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.

The COVID-19 pandemic is adversely affecting us, our employees, customers, counterparties and third-party service providers, and the ultimate extent of the impacts on our business, financial position, results of operations, liquidity, and prospects is uncertain. Deterioration in general business and economic conditions, including increases in unemployment rates or turbulence in U.S. or global financial markets, could adversely affect our revenues and the values of our assets and liabilities, reduce the availability of funding, and lead to a tightening of credit and further increase stock price volatility. In addition, changes to statutes, regulations, or regulatory policies or practices as a result of, or in response to COVID-19, could affect us in substantial and unpredictable ways.

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, 2020. 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.

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	BYLINE BANCORP, INC.
Date: October 28, 2021	By:	/s/ Roberto R. Herencia
	Name:	Roberto R. Herencia
	Title:	Executive Chairman and Chief Executive Officer

3

EX-99.1

Byline Bancorp, Inc.

Page 1 of 19

Exhibit 99.1

 

Byline Bancorp, Inc. Reports Third Quarter 2021 Financial Results

Select Third Quarter 2021 Highlights

Net income of $25.3 million, or $0.66 per diluted share

Net interest margin of 3.91%

Return on average assets of 1.53%, as adjusted1 1.59%

Efficiency ratio of 54.18%

Non-interest bearing deposits 41.1% of total deposits

Originated loans and leases increased $189.5 million, total production of $410.3 million

Common Equity Tier 1 to risk weighted assets of 11.32%

Chicago, IL, October 28, 2021 – Byline Bancorp, Inc. ("Byline", the “Company”, "we", "our", or "us")(NYSE: BY), the parent company of Byline Bank (the “Bank”), today reported net income of $25.3 million, or $0.66 per diluted share, for the third quarter of 2021, compared with net income of $28.5 million, or $0.73 per diluted share, for the second quarter of 2021 and net income of $13.1 million, or $0.34 per diluted share for the third quarter 2020. Adjusted net income1 was $26.4 million, or $0.69 per adjusted diluted share, for the third quarter of 2021, compared with $29.9 million, or $0.77 per adjusted diluted share1, for the second quarter of 2021 and $13.1 million, or $0.34 per adjusted diluted share for the third quarter of 2020.

Roberto R. Herencia, Executive Chairman and Chief Executive Officer of Byline Bancorp, commented, “We reported strong third quarter results highlighted by robust balance sheet growth as our teams remained focused on taking care of our customers, while the economy continued to improve. We executed well on our commercial banking strategy during the quarter driven by solid loan and lease growth, net interest margin expansion while continuing to deploy excess capital through share repurchases and dividends. We remain optimistic about our opportunities to execute on our strategy in the future to further enhance the value of our franchise. I want to thank all of our employees for their continued hard work and dedication to serving all of our stakeholders.”

Alberto J. Paracchini, President of Byline Bancorp, added, “Our strong results were supported by continued momentum across our businesses resulting in loan and lease growth, strong inflows of commercial noninterest-bearing deposits, and higher net interest income. Excluding PPP loans, our total loans and leases grew at a 34.9% annualized rate during the third quarter and more than offset the decline in our PPP portfolio. Growth was particularly strong in the commercial, sponsor finance, leasing and government guaranteed loan portfolios. Thanks to the efforts of all of our bankers and team members, we continue to have a healthy loan pipeline, which we believe will result in continued growth of our business while benefiting the mix of earning assets.”

Board Declares Cash Dividend of $0.09 per Share

On October 26, 2021, the Company's Board of Directors declared a cash dividend of $0.09 per share, payable on November 23, 2021, to stockholders of record of the Company's common stock as of November 9, 2021.

(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.

Byline Bancorp, Inc.

Page 2 of 19

STATEMENTS OF OPERATIONS

Net Interest Income

The following table presents net interest income for the periods indicated:

							September 30, 2021
	Three Months Ended						Change from
	September 30,		June 30,		September 30,		June 30,			September 30,
(dollars in thousands)	2021		2021		2020		2021			2020
INTEREST AND DIVIDEND INCOME
Interest and fees on loans and leases	$	56,291	$	54,324	$	51,036		3.6	%		10.3	%
Interest on securities		5,534		6,359		7,070		(13.0	)%		(21.7	)%
Other interest and dividend income		947		628		128		50.6	%		644.4	%
Total interest and dividend income		62,772		61,311		58,234		2.4	%		7.8	%
INTEREST EXPENSE
Deposits		986		1,058		2,760		(6.8	)%		(64.3	)%
Other borrowings		349		482		465		(27.4	)%		(24.8	)%
Subordinated notes and debentures		1,592		1,597		1,485		(0.4	)%		7.2	%
Total interest expense		2,927		3,137		4,710		(6.7	)%		(37.8	)%
Net interest income	$	59,845	$	58,174	$	53,524		2.9	%		11.8	%

Byline Bancorp, Inc.

Page 3 of 19

The following table presents the average interest-earning assets and average interest-bearing liabilities for the periods indicated. Net interest income and margin are adjusted to reflect tax-exempt interest income on a tax-equivalent basis using tax rates effective as of the end of the period:

	For the Three Months Ended
	September 30, 2021									June 30, 2021
(dollars in thousands)	Average Balance(5)			Interest Inc / Exp			Average Yield / Rate			Average Balance(5)			Interest Inc / Exp			Average Yield / Rate
ASSETS
Cash and cash equivalents	$	40,088		$	19			0.19	%	$	75,382		$	28			0.15	%
Loans and leases(1)		4,539,111			56,291			4.92	%		4,491,197			54,324			4.85	%
Taxable securities		1,309,802			5,472			1.66	%		1,477,070			5,947			1.62	%
Tax-exempt securities(2)		187,064			1,254			2.66	%		187,967			1,281			2.73	%
Total interest-earning assets	$	6,076,065		$	63,036			4.12	%	$	6,231,616		$	61,580			3.96	%
Allowance for loan and lease losses		(61,528	)								(65,848	)
All other assets		546,331									554,724
TOTAL ASSETS	$	6,560,868								$	6,720,492
LIABILITIES AND STOCKHOLDERS’    EQUITY
Deposits
Interest checking	$	653,543		$	228			0.14	%	$	626,886		$	220			0.14	%
Money market accounts		1,031,009			280			0.11	%		1,052,223			279			0.11	%
Savings		625,037			75			0.05	%		607,035			72			0.05	%
Time deposits		709,805			403			0.23	%		717,795			487			0.27	%
Total interest-bearing deposits		3,019,394			986			0.13	%		3,003,939			1,058			0.14	%
Other borrowings		426,284			349			0.33	%		642,586			482			0.30	%
Subordinated notes and debentures		110,195			1,592			5.73	%		110,030			1,597			5.82	%
Total borrowings		536,479			1,941			1.44	%		752,616			2,079			1.11	%
Total interest-bearing liabilities	$	3,555,873		$	2,927			0.33	%	$	3,756,555		$	3,137			0.33	%
Non-interest-bearing demand deposits		2,106,189									2,085,358
Other liabilities		75,052									68,089
Total stockholders’ equity		823,754									810,490
TOTAL LIABILITIES AND    STOCKHOLDERS’ EQUITY	$	6,560,868								$	6,720,492
Net interest spread(3)								3.79	%								3.63	%
Net interest income, fully   taxable equivalent				$	60,109								$	58,443
Net interest margin, fully   taxable equivalent(2)(4)								3.92	%								3.76	%
Tax-equivalent adjustment					(264	)		0.01	%					(269	)		0.02	%
Net interest income				$	59,845								$	58,174
Net interest margin(4)								3.91	%								3.74	%
Net loan accretion impact on margin				$	1,638			0.11	%				$	1,395			0.09	%

(1) Loan and lease balances are net of deferred origination fees and costs and initial indirect costs. Non-accrual loans and leases are included in total loan and lease balances.

(2) Interest income and rates include the effects of a tax equivalent adjustment to adjust tax exempt investment income on tax exempt investment securities to a fully taxable basis, assuming a federal income tax rate of 21%.

(3) Represents the average rate earned on interest-earning assets minus the average rate paid on interest-bearing liabilities.

(4) Represents net interest income (annualized) divided by total average earning assets.

(5) Average balances are average daily balances.

Byline Bancorp, Inc.

Page 4 of 19

Net interest income for the third quarter of 2021 was $59.8 million, an increase of $1.7 million, or 2.9%, from the second quarter of 2021.

The increase in net interest income was primarily due to:

An increase of $2.0 million in interest income on loans and leases, due to higher balances and yields on loans and leases and increased Paycheck Protection Program ("PPP") servicing fees resulting from a higher volume of loan forgiveness.

Partially offset by:

A decrease of $825,000 in interest income on securities, due to lower average balances of securities.

Tax-equivalent net interest margin for the third quarter of 2021 was 3.92%, an increase of 16 basis points compared to the second quarter of 2021. Total net accretion income on acquired loans contributed 11 basis points to the net interest margin for the third quarter of 2021 compared to nine basis points for the second quarter of 2021, an increase of two basis points. PPP loan interest income and net fee income combined contributed $5.4 million to net interest income for the third quarter of 2021 compared to $4.5 million for the second quarter of 2021 due to the timing of forgiveness of loans.

The average cost of total deposits was 0.08% for the third quarter of 2021, flat compared to the second quarter of 2021. Average non-interest-bearing demand deposits increased $20.8 million, while average money market account deposits decreased by $21.2 million. Average non-interest-bearing demand deposits were 41.1% of average total deposits for the third quarter of 2021 compared to 41.0% during the second quarter of 2021.

Provision for Loan and Lease Losses

The provision for loan and lease losses was $352,000 for the third quarter of 2021, an increase of $2.3 million compared to a recapture of provision of $2.0 million for the second quarter of 2021. The provision during the third quarter of 2021 was mainly driven by new loan and lease originations during the quarter, offset by a recapture of $1.7 million as a result of improved qualitative factors resulting from continued economic improvement.

Non-interest Income

The following table presents the components of non-interest income for the periods indicated:

	Three Months Ended								September 30, 2021 Change from
	September 30,			June 30,			September 30,		June 30,			September 30,
(dollars in thousands)	2021			2021			2020		2021			2020
NON-INTEREST INCOME
Fees and service charges on deposits	$	1,867		$	1,768		$	1,603		5.6	%		16.4	%
Loan servicing revenue		3,344			3,188			2,936		4.9	%		13.9	%
Loan servicing asset revaluation		(2,650	)		7			1,122	NM			NM
ATM and interchange fees		1,201			1,044			1,028		15.0	%		16.7	%
Net realized gains (losses) on securities   available-for-sale		130			(136	)		1,037	NM				(87.4	)%
Change in fair value of equity securities, net		(275	)		517			154	NM			NM
Net gains on sales of loans		12,761			12,270			12,671		4.0	%		0.7	%
Wealth management and trust income		815			722			693		12.8	%		17.7	%
Other non-interest income		1,302			1,622			990		(19.7	)%		31.7	%
Total non-interest income	$	18,495		$	21,002		$	22,234		(11.9	)%		(16.8	)%

Byline Bancorp, Inc.

Page 5 of 19

Non-interest income for the third quarter of 2021 was $18.5 million, a decrease of $2.5 million, or 11.9%, compared to $21.0 million for the second quarter of 2021.

The decrease in total non-interest income was primarily due to:

A $2.7 million loan servicing asset revaluation charge, which was a $2.7 million downward valuation adjustment for the current quarter compared to a $7,000 upward valuation adjustment in the prior quarter, due to changes in the fair value of the servicing asset; and

A $793,000 decrease in the fair value of equity securities.

Partially offset by:

An increase of $491,000 in net gains on sales of loans due to higher volume of loan sales.

During the third quarter of 2021, we sold $104.2 million of U.S. government guaranteed loans compared to $100.6 million during the second quarter of 2021.

Non-interest Expense

The following table presents the components of non-interest expense for the periods indicated:

	Three Months Ended						September 30, 2021 Change from
	September 30,		June 30,		September 30,		June 30,			September 30,
(dollars in thousands)	2021		2021		2020		2021			2020
NON-INTEREST EXPENSE
Salaries and employee benefits	$	25,978	$	24,588	$	23,126		5.7	%		12.3	%
Occupancy and equipment expense, net		4,982		4,856		5,220		2.6	%		(4.6	)%
Loan and lease related expenses		1,175		1,503		2,053		(21.7	)%		(42.7	)%
Legal, audit and other professional fees		2,710		2,898		2,390		(6.5	)%		13.4	%
Data processing		3,108		2,847		2,661		9.1	%		16.8	%
Net loss recognized on other real estate    owned and other related expenses		42		389		349		(89.1	)%		(87.8	)%
Other intangible assets amortization expense		1,738		1,848		1,947		(6.0	)%		(10.7	)%
Other non-interest expense		4,447		4,052		3,941		9.7	%		12.8	%
Total non-interest expense	$	44,180	$	42,981	$	41,687		2.8	%		6.0	%

Non-interest expense for the third quarter of 2021 was $44.2 million, an increase of $1.2 million, or 2.8%, from $43.0 million for the second quarter of 2021.

The increase in total non-interest expense was primarily due to:

An increase of $1.4 million in salaries and employee benefits, primarily due to new hires during the quarter and increased commission expense; and

An increase of $395,000 in other non-interest expense, mainly due to advertising campaigns launched during the quarter.

Partially offset by:

A decrease of $328,000 in loan and leases related expenses, mainly due to decreases in government guaranteed loan expenses; and

A decrease of $347,000 in net loss recognized on other real estate owned and other related expenses, due to decreases in write-downs.

Our efficiency ratio was 54.18% for the third quarter of 2021 compared to 51.95% for the second quarter of 2021. Excluding impairment charges on assets held for sale, our adjusted efficiency ratio1 was 52.35% for the third quarter of 2021, compared with 49.50% for the second quarter of 2021.

Byline Bancorp, Inc.

Page 6 of 19

INCOME TAXES

We recorded income tax expense of $8.5 million during the third quarter of 2021, compared to $9.7 million during the second quarter of 2021. The effective tax rate was 25.1%, and 25.3%, for the third quarter and second quarter of 2021, respectively.

STATEMENTS OF FINANCIAL CONDITION

Total assets were $6.7 billion at September 30, 2021, an increase of $163.8 million compared to $6.5 billion at June 30, 2021.

The current quarter increase was primarily due to:

An increase in loans and leases of $139.8 million, as a result of new originations, primarily driven by commercial real estate and commercial and industrial loans.

Partially offset by:

A decreases of $68.2 million in securities available-for-sale, at fair value, due to principal paydowns used to fund loan and lease growth.

The following table shows our allocation of the originated, acquired impaired, and acquired non-impaired loans and leases at the dates indicated:

	September 30, 2021						June 30, 2021						September 30, 2020
(dollars in thousands)	Amount			% of Total			Amount			% of Total			Amount			% of Total
Originated loans and leases
Commercial real estate	$	1,298,454			28.2	%	$	1,156,824			25.9	%	$	919,862			21.0	%
Residential real estate		387,578			8.4	%		389,758			8.7	%		458,364			10.5	%
Construction, land development, and    other land		336,460			7.3	%		271,710			6.1	%		234,017			5.3	%
Commercial and industrial		1,480,076			32.1	%		1,350,471			30.2	%		1,214,099			27.8	%
Paycheck Protection Program		268,081			5.8	%		476,282			10.7	%		622,191			14.2	%
Installment and other		998			0.0	%		982			0.0	%		2,346			0.1	%
Leasing financing receivables		331,149			7.2	%		267,300			6.0	%		185,700			4.2	%
Total originated loans and leases	$	4,102,796			89.0	%	$	3,913,327			87.6	%	$	3,636,579			83.1	%
Acquired impaired loans
Commercial real estate	$	84,821			1.8	%	$	91,313			2.0	%	$	117,114			2.7	%
Residential real estate		61,893			1.3	%		67,401			1.5	%		84,197			1.9	%
Construction, land development, and    other land		1,746			0.1	%		2,008			0.0	%		4,804			0.1	%
Commercial and industrial		6,651			0.1	%		7,444			0.2	%		10,489			0.3	%
Installment and other		169			0.0	%		180			0.0	%		214			0.0	%
Total acquired impaired loans	$	155,280			3.3	%	$	168,346			3.7	%	$	216,818			5.0	%
Acquired non-impaired loans and leases
Commercial real estate	$	235,103			5.1	%	$	254,739			5.6	%	$	310,879			7.1	%
Residential real estate		58,283			1.3	%		65,119			1.5	%		90,835			2.1	%
Construction, land development, and    other land		206			0.0	%		208			0.0	%		213			0.0	%
Commercial and industrial		49,678			1.1	%		58,320			1.3	%		104,221			2.4	%
Installment and other		275			0.0	%		311			0.0	%		583			0.0	%
Leasing financing receivables		7,607			0.2	%		9,087			0.3	%		14,389			0.3	%
Total acquired non-impaired loans    and leases	$	351,152			7.7	%	$	387,784			8.7	%	$	521,120			11.9	%
Total loans and leases	$	4,609,228			100.0	%	$	4,469,457			100.0	%	$	4,374,517			100.0	%
Allowance for loan and lease losses		(60,598	)					(61,719	)					(61,258	)
Total loans and leases, net of allowance for    loan and lease losses	$	4,548,630					$	4,407,738					$	4,313,259

Byline Bancorp, Inc.

Page 7 of 19

Paycheck Protection Program

The following table presents the net PPP loans outstanding as of September 30, 2021:

	PPP Loans Outstanding
(dollars in thousands)	First Round			Second Round			Total
Principal outstanding	$	12,561		$	263,058		$	275,619
Unearned processing fee		(176	)		(9,503	)		(9,679	)
Deferred cost		47			2,094			2,141
PPP loans, net	$	12,432		$	255,649		$	268,081
Number of loans outstanding		128			1,624			1,752
Forgiven		95.9	%		22.3	%		70.7	%
In review or submission process		0.9	%		10.9	%		4.3	%
Not applied for forgiveness		3.2	%		66.8	%		25.0	%

PPP loans decreased by $208.2 million in the third quarter of 2021 primarily as a result of forgiveness of PPP loans. Forgiveness for the third quarter 2021 was $202.4 million compared to $180.7 million for the second quarter of 2021.

ASSET QUALITY

Non-Performing Assets

The following table sets forth the amounts of non-performing loans and leases (excluding acquired impaired), other real estate owned, and accruing troubled debt restructured loans at the dates indicated:

										% Change from
(dollars in thousands)	September 30, 2021			June 30, 2021			September 30, 2020			June 30, 2021			September 30, 2020
Non-performing assets:
Non-accrual loans and leases	$	34,465		$	35,514		$	43,196			(3.0	)%		(20.2	)%
Past due loans and leases 90 days or more    and still accruing interest		—			—			—		—%			—%
Total non-performing loans and leases	$	34,465		$	35,514		$	43,196			(3.0	)%		(20.2	)%
Other real estate owned		3,033			4,417			8,150			(31.3	)%		(62.8	)%
Total non-performing assets	$	37,498		$	39,931		$	51,346			(6.1	)%		(27.0	)%
Accruing troubled debt restructured loans (1)	$	2,366		$	2,395		$	2,293			(1.3	)%		3.2	%
Total non-performing loans and leases as a    percentage of total loans and leases		0.75	%		0.79	%		0.99	%
Total non-performing assets as a percentage    of total assets		0.56	%		0.61	%		0.79	%
Allowance for loan and lease losses as a    percentage of non-performing loans and    leases		175.82	%		173.79	%		141.81	%
Non-performing assets guaranteed by    U.S. government:
Non-accrual loans guaranteed	$	6,326		$	5,847		$	3,749			8.2	%		68.8	%
Past due loans 90 days or more and still    accruing interest guaranteed		—			—			—		—%			—%
Total non-performing loans guaranteed	$	6,326		$	5,847		$	3,749			8.2	%		68.8	%
Accruing troubled debt restructured loans    guaranteed (1)	$	—		$	—		$	—		—%			—%
Total non-performing loans and leases    not guaranteed as a percentage of total    loans and leases		0.61	%		0.66	%		0.90	%
Total non-performing assets not guaranteed    as a percentage of total assets		0.46	%		0.52	%		0.73	%

Variances in non-performing assets were:

Non-performing loans and leases were $34.5 million at September 30, 2021, a decrease of $1.0 million from $35.5 million at June 30, 2021; and

Other real estate owned was $3.0 million at September 30, 2021, a decrease of $1.4 million from $4.4 million at June 30, 2021 due to sales.

Byline Bancorp, Inc.

Page 8 of 19

Allowance for Loan and Lease Losses

The following table presents the balance and activity within the allowance for loan and lease losses for the periods indicated:

	Three Months Ended
	September 30,			June 30,			September 30,
(dollars in thousands)	2021			2021			2020
Allowance for loan and lease losses, beginning of period	$	61,719		$	65,590		$	51,300
Provision/(recapture) for loan and lease losses		352			(1,969	)		15,740
Net charge-offs of loans and leases		(1,473	)		(1,902	)		(5,782	)
Allowance for loan and lease losses, end of period	$	60,598		$	61,719		$	61,258
Allowance for loan and lease losses to period end    total loans and leases held for investment		1.31	%		1.38	%		1.40	%
Net charge-offs (annualized) to average loans    and leases outstanding during the period		0.13	%		0.17	%		0.53	%
Provision/(recapture) for loan and lease losses    to net charge-offs during the period		0.24	x	(1.04)x				2.72	x

The allowance for loan and lease losses as a percentage of total loans and leases held for investment decreased to 1.31% at September 30, 2021 compared to 1.38% at June 30, 2021. The allowance for loan and lease losses as a percentage of total loans and leases held for investment excluding PPP loans decreased to 1.40% at September 30, 2021 from 1.55% at June 30, 2021.

In June 2016, the Financial Accounting Standards Board (“FASB”) issued new guidance on the recognition of credit losses, which replaces the incurred loss impairment methodology with a methodology that reflects expected credit losses. In November 2019, the FASB delayed the effective date of the standard for smaller reporting companies, which includes emerging growth companies. Assuming we remain an emerging growth company, the Company anticipates adopting the standard on December 31, 2022. We are in the process of implementation and determining the impact that this new authoritative guidance will have on our consolidated financial statements.

Net Charge-Offs

Net charge-offs during the third quarter of 2021 were $1.5 million, or 0.13% of average loans and leases, on an annualized basis, a decrease of $429,000 compared to $1.9 million or 0.17% of average loans and leases, during the second quarter of 2021, and a decrease of $4.3 million from $5.8 million or 0.53% of average loans and leases from the comparable period a year ago.

Net charge-offs for the third quarter of 2021 included $1.3 million in the unguaranteed portion of U.S. government guaranteed loans, while net charge-offs for the second quarter of 2021 and third quarter of 2020 included $1.6 million and $4.1 million, respectively, in the unguaranteed portion of U.S. government guaranteed loans.

Byline Bancorp, Inc.

Page 9 of 19

Deposits and Other Liabilities

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

							Change from
(dollars in thousands)	September 30, 2021		June 30, 2021		September 30, 2020		June 30, 2021			September 30, 2020
Non-interest-bearing demand deposits	$	2,117,749	$	2,089,455	$	1,718,682		1.4	%		23.2	%
Interest-bearing checking accounts		652,824		653,558		584,682		(0.1	)%		11.7	%
Money market demand accounts		1,057,419		1,023,675		1,153,433		3.3	%		(8.3	)%
Other savings		627,294		613,136		542,741		2.3	%		15.6	%
Time deposits (below $250,000)		553,364		567,469		622,328		(2.5	)%		(11.1	)%
Time deposits ($250,000 and above)		149,628		144,902		188,379		3.3	%		(20.6	)%
Total deposits	$	5,158,278	$	5,092,195	$	4,810,245		1.3	%		7.2	%

Total deposits were $5.2 billion at September 30, 2021, an increase of $66.1 million, or 1.3%, compared to $5.1 billion at June 30, 2021. Non-interest-bearing deposits were 41.1% and 41.0% of total deposits at September 30, 2021 and June 30, 2021, respectively.

The increase in the current quarter was primarily due to:

An increase in non-interest-bearing deposits of $28.3 million, due to increases in commercial deposits; and

An increase in money market demand accounts of $33.7 million, principally driven by increases in personal money market accounts.

Total borrowings and other liabilities were $721.8 million at September 30, 2021, an increase of $90.4 million from $631.3 million at June 30, 2021, primarily driven by an increase in Federal Home Loan Bank advances of $243.0 million, offset by the Paycheck Protection Program Liquidity Facility decreasing by $148.3 million to $156.4 million at September 30, 2021 from $304.7 million at June 30, 2021.

Stockholders’ Equity

Total stockholders’ equity was $824.4 million at September 30, 2021, an increase of $7.3 million from $817.1 million at June 30, 2021. The increase was primarily due to an increase in retained earnings, offset by a decrease in the fair value of available-for-sale securities, and repurchases of common stock.

Under its stock repurchase program the Company repurchased an aggregate of 460,220 shares at an average price per share of $22.62 during the third quarter, and 1,331,708 shares at an average price of $21.68 year-to-date.

Byline Bancorp, Inc.

Page 10 of 19

The following table presents actual regulatory capital dollar amounts and ratios of the Company and Byline Banks of September 30, 2021:

	Actual					Minimum Capital Required					Required to be Considered Well Capitalized
September 30, 2021	Amount		Ratio			Amount		Ratio			Amount		Ratio
Total capital to risk weighted assets:
Company	$	821,646		14.78	%	$	444,596		8.00	%	N/A		N/A
Bank		747,862		13.50	%		443,176		8.00	%	$	553,971		10.00	%
Tier 1 capital to risk weighted assets:
Company	$	684,523		12.32	%	$	333,447		6.00	%	N/A		N/A
Bank	$	685,739		12.38	%		332,382		6.00	%	$	443,176		8.00	%
Common Equity Tier 1 (CET1) to    risk weighted assets:
Company	$	629,085		11.32	%	$	250,085		4.50	%	N/A		N/A
Bank		685,739		12.38	%		249,287		4.50	%	$	360,081		6.50	%
Tier 1 capital to average assets:
Company	$	684,523		11.21	%	$	244,268		4.00	%	N/A		N/A
Bank		685,739		11.24	%		244,138		4.00	%	$	305,173		5.00	%

Capital ratios for the period presented are based on the Basel III regulatory capital framework as applied to our current business and operations, and are subject to, among other things, completion and filing of our regulatory reports and ongoing regulatory review and implementation guidance.

Conference Call, Webcast and Slide Presentation

We will host a conference call and webcast at 9:00 a.m. Central Time on Friday, October 29, 2021 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 (844) 200-6205; passcode 611698. A recorded replay can be accessed through November 12, 2021 by dialing (866) 813-9403; passcode: 960656.

A slide presentation relating to our third quarter 2021 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 websiteatwww.bylinebancorp.com.

About Byline Bancorp, Inc.

Headquartered in Chicago, Byline Bancorp, Inc. is the parent company for Byline Bank, a full service commercial bank serving small- and medium-sized businesses, financial sponsors, and consumers. Byline Bank has approximately $6.7 billion in assets and operates more than 40 full service branch locations throughout the Chicago and Milwaukee metropolitan areas. Byline Bank offers a broad range of commercial and retail banking products and services including small ticket equipment leasing solutions and is one of the top five Small Business Administration lenders in the United States.

Byline Bancorp, Inc.

Page 11 of 19

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 judgement 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.

The COVID-19 pandemic is adversely affecting us, our employees, customers, counterparties and third-party service providers, and the ultimate extent of the impacts on our business, financial position, results of operations, liquidity, and prospects is uncertain. Deterioration in general business and economic conditions, including increases in unemployment rates or turbulence in U.S. or global financial markets, could adversely affect our revenues and the values of our assets and liabilities, reduce the availability of funding, and lead to a tightening of credit and further increase stock price volatility. In addition, changes to statutes, regulations, or regulatory policies or practices as a result of, or in response to COVID-19, could affect us in substantial and unpredictable ways.

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, 2020. 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.

Contacts:

Investors:	Media:
Brooks Rennie	Erin O’Neill
Investor Relations Manager	Director of Marketing
312-660-5805	773-475-2901
brennie@bylinebank.com	eoneill@bylinebank.com

Byline Bancorp, Inc.

Page 12 of 19

BYLINE BANCORP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (unaudited)

	September 30,			June 30,			March 31,			December 31,			September 30,
(dollars in thousands)	2021			2021			2021			2020			2020
ASSETS
Cash and due from banks	$	46,900		$	50,558		$	47,101		$	41,432		$	47,433
Interest bearing deposits with other banks		95,978			52,138			66,038			41,988			53,645
Cash and cash equivalents		142,878			102,696			113,139			83,420			101,078
Equity and other securities, at fair value		10,299			10,575			8,557			8,764			8,335
Securities available-for-sale, at fair value		1,427,605			1,495,789			1,675,907			1,447,230			1,509,211
Securities held-to-maturity, at amortized cost		3,887			3,890			3,892			4,395			4,400
Restricted stock, at cost		15,927			11,927			19,057			10,507			9,652
Loans held for sale		48,372			25,046			28,584			7,924			49,049
Loans and leases:
Loans and leases		4,609,228			4,469,457			4,454,620			4,340,535			4,374,517
Allowance for loan and lease losses		(60,598	)		(61,719	)		(65,590	)		(66,347	)		(61,258	)
Net loans and leases		4,548,630			4,407,738			4,389,030			4,274,188			4,313,259
Servicing assets, at fair value		23,597			24,683			22,140			22,042			21,267
Premises and equipment, net		76,995			80,482			85,182			86,728			94,638
Other real estate owned, net		3,033			4,417			5,952			6,350			8,150
Goodwill and other intangible assets, net		167,296			169,034			170,882			172,631			174,523
Bank-owned life insurance		60,992			60,628			60,258			10,009			9,952
Deferred tax assets, net		45,165			43,127			48,662			40,181			35,945
Accrued interest receivable and other assets		129,775			100,570			118,883			216,283			157,054
Total assets	$	6,704,451		$	6,540,602		$	6,750,125		$	6,390,652		$	6,496,513
LIABILITIES AND STOCKHOLDERS’ EQUITY
LIABILITIES
Non-interest-bearing demand deposits	$	2,117,749		$	2,089,455		$	2,015,643		$	1,762,676		$	1,718,682
Interest-bearing deposits		3,040,529			3,002,740			3,008,897			2,989,355			3,091,563
Total deposits		5,158,278			5,092,195			5,024,540			4,752,031			4,810,245
Other borrowings		539,119			446,836			749,719			647,901			710,560
Subordinated notes, net		73,473			73,429			73,386			73,342			73,299
Junior subordinated debentures issued to    capital trusts, net		36,796			36,682			36,565			36,451			36,331
Accrued expenses and other liabilities		72,367			74,387			72,120			75,463			71,382
Total liabilities		5,880,033			5,723,529			5,956,330			5,585,188			5,701,817
STOCKHOLDERS’ EQUITY
Preferred stock		10,438			10,438			10,438			10,438			10,438
Common stock		386			385			385			384			383
Additional paid-in capital		592,192			590,422			589,209			587,165			586,057
Retained earnings		258,077			236,363			210,385			191,098			180,162
Treasury stock		(31,161	)		(20,712	)		(8,275	)		(1,668	)		(1,668	)
Accumulated other comprehensive income    (loss), net of tax		(5,514	)		177			(8,347	)		18,047			19,324
Total stockholders’ equity		824,418			817,073			793,795			805,464			794,696
Total liabilities and stockholders’ equity	$	6,704,451		$	6,540,602		$	6,750,125		$	6,390,652		$	6,496,513

Byline Bancorp, Inc.

Page 13 of 19

BYLINE BANCORP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

	Three Months Ended														Nine Months Ended
	September 30,			June 30,			March 31,			December 31,			September 30,		September 30,			September 30,
(dollars in thousands, except per share data)	2021			2021			2021			2020			2020		2021			2020
INTEREST AND DIVIDEND INCOME
Interest and fees on loans and leases	$	56,291		$	54,324		$	53,808		$	53,441		$	51,036	$	164,423		$	155,347
Interest on securities		5,534			6,359			6,089			6,252			7,070		17,982			22,616
Other interest and dividend income		947			628			262			232			128		1,837			1,342
Total interest and dividend income		62,772			61,311			60,159			59,925			58,234		184,242			179,305
INTEREST EXPENSE
Deposits		986			1,058			1,421			1,814			2,760		3,465			14,810
Other borrowings		349			482			502			480			465		1,333			2,838
Subordinated notes and debentures		1,592			1,597			1,596			1,611			1,485		4,785			2,699
Total interest expense		2,927			3,137			3,519			3,905			4,710		9,583			20,347
Net interest income		59,845			58,174			56,640			56,020			53,524		174,659			158,958
PROVISION/(RECAPTURE) FOR LOAN    AND LEASE LOSSES		352			(1,969	)		4,367			10,236			15,740		2,750			45,713
Net interest income after   provision/(recapture) for   loan and lease losses		59,493			60,143			52,273			45,784			37,784		171,909			113,245
NON-INTEREST INCOME
Fees and service charges on deposits		1,867			1,768			1,664			1,740			1,603		5,299			4,731
Loan servicing revenue		3,344			3,188			2,769			2,645			2,936		9,301			8,674
Loan servicing asset revaluation		(2,650	)		7			(1,505	)		(2,298	)		1,122		(4,148	)		(2,653	)
ATM and interchange fees		1,201			1,044			1,012			1,076			1,028		3,257			3,089
Net realized gains (losses) on securities    available-for-sale		130			(136	)		1,462			2,889			1,037		1,456			2,412
Change in fair value of equity securities,    net		(275	)		517			(206	)		428			154		36			301
Net gains on sales of loans		12,761			12,270			8,319			9,449			12,671		33,350			23,900
Wealth management and trust income		815			722			768			710			693		2,305			1,970
Other non-interest income		1,302			1,622			1,459			1,051			990		4,383			1,946
Total non-interest income		18,495			21,002			15,742			17,690			22,234		55,239			44,370
NON-INTEREST EXPENSE
Salaries and employee benefits		25,978			24,588			21,806			22,559			23,126		72,372			67,197
Occupancy and equipment expense, net		4,982			4,856			5,779			6,854			5,220		15,617			16,103
Loan and lease related expenses		1,175			1,503			951			1,324			2,053		3,629			4,631
Legal, audit, and other professional fees		2,710			2,898			2,214			1,336			2,390		7,822			6,802
Data processing		3,108			2,847			2,755			2,748			2,661		8,710			8,152
Net loss recognized on other real    estate owned and other related    expenses		42			389			621			495			349		1,052			1,324
Other intangible assets amortization    expense		1,738			1,848			1,749			1,892			1,947		5,335			5,732
Other non-interest expense		4,447			4,052			2,967			9,813			3,941		11,466			12,460
Total non-interest expense		44,180			42,981			38,842			47,021			41,687		126,003			122,401
INCOME BEFORE PROVISION FOR INCOME    TAXES		33,808			38,164			29,173			16,453			18,331		101,145			35,214
PROVISION FOR INCOME TAXES		8,502			9,672			7,375			4,162			5,260		25,549			10,038
NET INCOME		25,306			28,492			21,798			12,291			13,071		75,596			25,176
Dividends on preferred shares		196			195			196			196			196		587			587
INCOME AVAILABLE TO COMMON    STOCKHOLDERS	$	25,110		$	28,297		$	21,602		$	12,095		$	12,875	$	75,009		$	24,589
EARNINGS PER COMMON SHARE
Basic	$	0.68		$	0.75		$	0.57		$	0.32		$	0.34	$	1.99		$	0.65
Diluted	$	0.66		$	0.73		$	0.56		$	0.31		$	0.34	$	1.95		$	0.64

Byline Bancorp, Inc.

Page 14 of 19

BYLINE BANCORP, INC. AND SUBSIDIARIES

SELECTED FINANCIAL DATA (unaudited)

	As of or For the Three Months Ended															As of or For the Nine Months Ended
(dollars in thousands, except share	September 30,			June 30,			March 31,			December 31,			September 30,			September 30,			September 30,
and per share data)	2021			2021			2021			2020			2020			2021			2020
Common Share Data
Summary of Operations
Net interest income	$	59,845		$	58,174		$	56,640		$	56,020		$	53,524		$	174,659		$	158,958
Provision/(recapture) for loan and   lease losses		352			(1,969	)		4,367			10,236			15,740			2,750			45,713
Non-interest income		18,495			21,002			15,742			17,690			22,234			55,239			44,370
Non-interest expense		44,180			42,981			38,842			47,021			41,687			126,003			122,401
Income before provision for   income taxes		33,808			38,164			29,173			16,453			18,331			101,145			35,214
Provision for income taxes		8,502			9,672			7,375			4,162			5,260			25,549			10,038
Net income		25,306			28,492			21,798			12,291			13,071			75,596			25,176
Dividends on preferred shares		196			195			196			196			196			587			587
Net income available   to common stockholders	$	25,110		$	28,297		$	21,602		$	12,095		$	12,875		$	75,009		$	24,589
Earnings per Common Share
Basic earnings per common share	$	0.68		$	0.75		$	0.57		$	0.32		$	0.34		$	1.99		$	0.65
Diluted earnings per common share	$	0.66		$	0.73		$	0.56		$	0.31		$	0.34		$	1.95		$	0.64
Adjusted diluted earnings per common    share(2)(3)(4)	$	0.69		$	0.77		$	0.57		$	0.38		$	0.34		$	2.02		$	0.65
Weighted average common shares    outstanding (basic)		37,200,778			37,965,658			38,164,201			38,202,665			38,057,350			37,773,350			37,973,694
Weighted average common shares    outstanding (diluted)		38,018,301			38,696,036			38,915,482			38,574,129			38,249,335			38,523,112			38,251,963
Common shares outstanding		37,690,087			38,094,972			38,641,851			38,618,054			38,568,916			37,690,087			38,568,916
Cash dividends per common share	$	0.09		$	0.06		$	0.06		$	0.03		$	0.03		$	0.21		$	0.09
Dividend payout ratio on   common stock		13.64	%		8.22	%		10.71	%		9.68	%		8.82	%		10.77	%		14.06	%
Tangible book value per   common share(1)	$	17.16		$	16.74		$	15.85		$	16.12		$	15.81		$	17.16		$	15.81
Key Ratios and Performance Metrics    (annualized where applicable)
Net interest margin, fully taxable   equivalent (1)(5)		3.92	%		3.76	%		3.78	%		3.78	%		3.61	%		3.82	%		3.82	%
Average cost of deposits		0.08	%		0.08	%		0.12	%		0.15	%		0.22	%		0.09	%		0.43	%
Efficiency ratio(2)		54.18	%		51.95	%		51.25	%		61.22	%		52.46	%		52.49	%		57.38	%
Adjusted efficiency ratio(1)(2)(3)		52.35	%		49.50	%		50.41	%		55.77	%		52.42	%		50.76	%		57.01	%
Non-interest expense to average assets		2.67	%		2.57	%		2.39	%		2.92	%		2.59	%		2.54	%		2.70	%
Adjusted non-interest expense to    average assets(1)(3)		2.58	%		2.45	%		2.35	%		2.67	%		2.59	%		2.46	%		2.68	%
Return on average stockholders' equity		12.19	%		14.10	%		10.96	%		6.07	%		6.57	%		12.42	%		4.33	%
Adjusted return on average    stockholders' equity(1)(3)(4)		12.69	%		14.80	%		11.18	%		7.50	%		6.58	%		12.90	%		4.42	%
Return on average assets		1.53	%		1.70	%		1.34	%		0.76	%		0.81	%		1.53	%		0.56	%
Adjusted return on average assets(1)(3)(4)		1.59	%		1.78	%		1.37	%		0.94	%		0.81	%		1.58	%		0.57	%
Non-interest income to total    revenues(1)		23.61	%		26.53	%		21.75	%		24.00	%		29.35	%		24.03	%		21.82	%
Pre-tax pre-provision return on    average assets(1)		2.07	%		2.16	%		2.06	%		1.66	%		2.12	%		2.10	%		1.79	%
Adjusted pre-tax pre-provision return   on average assets(1)(3)		2.15	%		2.28	%		2.10	%		1.91	%		2.12	%		2.18	%		1.80	%
Return on average tangible common    stockholders' equity(1)		16.22	%		18.87	%		14.86	%		8.61	%		9.39	%		16.66	%		6.51	%
Adjusted return on average tangible    common stockholders' equity(1)(3)		16.86	%		19.77	%		15.15	%		10.47	%		9.40	%		17.27	%		6.63	%
Non-interest-bearing deposits to   total deposits		41.06	%		41.03	%		40.12	%		37.09	%		35.73	%		41.06	%		35.73	%
Loans and leases held for sale and   loans and lease held for   investment to total deposits		90.29	%		88.26	%		89.23	%		91.51	%		91.96	%		90.29	%		91.96	%
Deposits to total liabilities		87.73	%		88.97	%		84.36	%		85.08	%		84.36	%		87.73	%		84.36	%
Deposits per branch	$	117,234		$	115,732		$	109,229		$	103,305		$	84,390		$	117,234		$	84,390
																$	-
Asset Quality Ratios
Non-performing loans and leases to    total loans and leases held for    investment, net before ALLL		0.75	%		0.79	%		0.83	%		0.95	%		0.99	%		0.75	%		0.99	%
ALLL to total loans and leases held for    investment, net before ALLL		1.31	%		1.38	%		1.47	%		1.53	%		1.40	%		1.31	%		1.40	%
Net charge-offs to average total loans    and leases held for investment,    net before ALLL		0.13	%		0.17	%		0.47	%		0.47	%		0.53	%		0.25	%		0.53	%
Acquisition accounting adjustments(4)	$	6,327		$	9,393		$	10,424		$	13,389		$	17,133		$	6,327		$	17,133
Capital Ratios
Common equity to total assets		12.14	%		12.33	%		11.61	%		12.44	%		12.07	%		12.14	%		12.07	%
Tangible common equity to   tangible assets(1)		9.89	%		10.01	%		9.31	%		10.01	%		9.64	%		9.89	%		9.64	%
Leverage ratio		11.21	%		10.82	%		10.93	%		11.12	%		10.93	%		11.21	%		10.93	%
Common equity tier 1 capital ratio		11.32	%		11.97	%		12.09	%		12.20	%		12.55	%		11.32	%		12.55	%
Tier 1 capital ratio		12.32	%		13.05	%		13.20	%		13.36	%		13.77	%		12.32	%		13.77	%
Total capital ratio		14.78	%		15.74	%		15.96	%		16.18	%		16.67	%		14.78	%		16.67	%

(1) Represents a non-GAAP financial measure. See “Reconciliation of non-GAAP Financial Measures” for a reconciliation of our non-GAAP measures to the most directly comparable GAAP financial measure.

(2) Represents non-interest expense less amortization of intangible assets divided by net interest income and non-interest income.

(3) Calculation excludes impairment charges, merger-related expenses, and core systems conversion expense.

(4) Represents the remaining net unaccreted discount as a result of applying the fair value adjustment at the time of the business combination on acquired loans.

(5) Interest income and rates include the effects of a tax equivalent adjustment to adjust tax exempt investment income on tax exempt investment securities to a fully taxable basis, assuming a federal income tax rate of 21%.

Byline Bancorp, Inc.

Page 15 of 19

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 September 30,
	2021									2020
(dollars in thousands)	Average Balance(5)			Interest Inc / Exp			Average Yield / Rate			Average Balance(5)			Interest Inc / Exp			Average Yield / Rate
ASSETS
Cash and cash equivalents	$	40,088		$	19			0.19	%	$	48,678		$	25			0.20	%
Loans and leases(1)		4,539,111			56,291			4.92	%		4,360,203			51,036			4.66	%
Taxable securities		1,309,802			5,472			1.66	%		1,364,516			6,341			1.85	%
Tax-exempt securities(2)		187,064			1,254			2.66	%		143,157			1,054			2.93	%
Total interest-earning assets	$	6,076,065		$	63,036			4.12	%	$	5,916,554		$	58,456			3.93	%
Allowance for loan and lease losses		(61,528	)								(53,964	)
All other assets		546,331									538,700
TOTAL ASSETS	$	6,560,868								$	6,401,290
LIABILITIES AND STOCKHOLDERS’    EQUITY
Deposits
Interest checking	$	653,543		$	228			0.14	%	$	565,917		$	226			0.16	%
Money market accounts		1,031,009			280			0.11	%		1,202,016			634			0.21	%
Savings		625,037			75			0.05	%		535,396			64			0.05	%
Time deposits		709,805			403			0.23	%		870,228			1,836			0.84	%
Total interest-bearing deposits		3,019,394			986			0.13	%		3,173,557			2,760			0.35	%
Other borrowings		426,284			349			0.33	%		538,237			465			0.34	%
Subordinated notes and debentures		110,195			1,592			5.73	%		100,756			1,485			5.86	%
Total borrowings		536,479			1,941			1.44	%		638,993			1,950			1.21	%
Total interest-bearing liabilities	$	3,555,873		$	2,927			0.33	%	$	3,812,549		$	4,710			0.49	%
Non-interest-bearing demand deposits		2,106,189									1,742,787
Other liabilities		75,052									54,844
Total stockholders’ equity		823,754									791,111
TOTAL LIABILITIES AND    STOCKHOLDERS’ EQUITY	$	6,560,868								$	6,401,290
Net interest spread(3)								3.79	%								3.44	%
Net interest income, fully   taxable equivalent				$	60,109								$	53,746
Net interest margin, fully   taxable equivalent(2)(4)								3.92	%								3.61	%
Tax-equivalent adjustment					(264	)		0.01	%					(222	)		0.01	%
Net interest income				$	59,845								$	53,524
Net interest margin(4)								3.91	%								3.60	%
Net loan accretion impact on margin				$	1,638			0.11	%				$	3,911			0.26	%

(1) Loan and lease balances are net of deferred origination fees and costs and initial indirect costs. Non-accrual loans and leases are included in total loan and lease balances.

(2) Interest income and rates include the effects of a tax equivalent adjustment to adjust tax exempt investment income on tax exempt investment securities to a fully taxable basis, assuming a federal income tax rate of 21%.

(3) Represents the average rate earned on interest-earning assets minus the average rate paid on interest-bearing liabilities.

(4) Represents net interest income (annualized) divided by total average earning assets.

(5) Average balances are average daily balances.

Byline Bancorp, Inc.

Page 16 of 19

BYLINE BANCORP, INC. AND SUBSIDIARIES

YEAR-TO-DATE STATEMENT OF AVERAGE INTEREST-EARNING ASSETS AND AVERAGE INTEREST-BEARING LIABILITIES (unaudited)

	For the Nine Months Ended September 30,
	2021									2020
(dollars in thousands)	Average Balance(5)			Interest Inc / Exp			Average Yield / Rate			Average Balance(5)			Interest Inc / Exp			Average Yield / Rate
ASSETS
Cash and cash equivalents	$	56,926		$	75			0.18	%	$	48,861		$	207			0.57	%
Loans and leases(1)		4,487,909			164,423			4.90	%		4,148,465			155,347			5.00	%
Taxable securities		1,405,390			16,798			1.60	%		1,261,458			21,678			2.30	%
Tax-exempt securities(2)		184,826			3,729			2.70	%		115,161			2,625			3.04	%
Total interest-earning assets	$	6,135,051		$	185,025			4.03	%	$	5,573,945		$	179,857			4.31	%
Allowance for loan and lease losses		(64,768	)								(43,584	)
All other assets		552,660									522,321
TOTAL ASSETS	$	6,622,943								$	6,052,682
LIABILITIES AND STOCKHOLDERS’    EQUITY
Deposits
Interest checking	$	609,444		$	647			0.14	%	$	432,785		$	651			0.20	%
Money market accounts		1,068,770			940			0.12	%		1,126,588			3,794			0.45	%
Savings		603,366			214			0.05	%		509,001			186			0.05	%
Time deposits		734,708			1,664			0.30	%		986,419			10,179			1.38	%
Total interest-bearing deposits		3,016,288			3,465			0.15	%		3,054,793			14,810			0.81	%
Other borrowings		572,018			1,333			0.31	%		531,395			2,838			0.71	%
Subordinated notes and debentures		110,029			4,785			5.81	%		59,591			2,699			6.05	%
Total borrowings		682,047			6,118			1.20	%		590,986			5,537			1.25	%
Total interest-bearing liabilities	$	3,698,335		$	9,583			0.35	%	$	3,645,779		$	20,347			0.75	%
Non-interest-bearing demand deposits		2,039,242									1,578,704
Other liabilities		71,737									50,677
Total stockholders’ equity		813,629									777,522
TOTAL LIABILITIES AND    STOCKHOLDERS’ EQUITY	$	6,622,943								$	6,052,682
Net interest spread(3)								3.68	%								3.56	%
Net interest income, fully   taxable equivalent				$	175,442								$	159,510
Net interest margin, fully   taxable equivalent(2)(4)								3.82	%								3.82	%
Tax-equivalent adjustment					(783	)		0.01	%					(552	)		0.01	%
Net interest income				$	174,659								$	158,958
Net interest margin(4)								3.81	%								3.81	%
Net loan accretion impact on margin				$	5,001			0.11	%				$	10,754			0.26	%

(1) Loan and lease balances are net of deferred origination fees and costs and initial indirect costs. Non-accrual loans and leases are included in total loan and lease balances.

(2) Interest income and rates include the effects of a tax equivalent adjustment to adjust tax exempt investment income on tax exempt investment securities to a fully taxable basis, assuming a federal income tax rate of 21%.

(3) Represents the average rate earned on interest-earning assets minus the average rate paid on interest-bearing liabilities.

(4) Represents net interest income (annualized) divided by total average earning assets.

(5) Average balances are average daily balances.

Byline Bancorp, Inc.

Page 17 of 19

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 efficiency ratio, adjusted non-interest expense to average assets, tax-equivalent net interest margin, non-interest income to total revenues, adjusted return on average stockholders’ equity, adjusted return on average assets, pre-tax pre-provision return on average assets, adjusted pre-tax pre-provision return on average assets, 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 Nine Months Ended
	September 30,			June 30,			March 31,			December 31,			September 30,			September 30,			September 30,
(dollars in thousands, except per share data)	2021			2021			2021			2020			2020			2021			2020
Net income and earnings per share    excluding significant items
Reported Net Income	$	25,306		$	28,492		$	21,798		$	12,291		$	13,071		$	75,596		$	25,176
Significant items:
Impairment charges on assets held for sale		1,435			1,942			604			4,022			32			3,981			747
Tax benefit		(391	)		(529	)		(165	)		(1,120	)		(9	)		(1,085	)		(208	)
Adjusted Net Income	$	26,350		$	29,905		$	22,237		$	15,193		$	13,094		$	78,492		$	25,715
Reported Diluted Earnings per Share	$	0.66		$	0.73		$	0.56		$	0.31		$	0.34		$	1.95		$	0.64
Significant items:
Impairment charges on assets held for sale		0.04			0.05			0.02			0.10			—			0.10			0.02
Tax benefit		(0.01	)		(0.01	)		(0.01	)		(0.03	)		—			(0.03	)		(0.01	)
Adjusted Diluted Earnings per Share	$	0.69		$	0.77		$	0.57		$	0.38		$	0.34		$	2.02		$	0.65

Byline Bancorp, Inc.

Page 18 of 19

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 Nine Months Ended
(dollars in thousands, except per share data,	September 30,			June 30,			March 31,			December 31,			September 30,			September 30,			September 30,
ratios annualized, where applicable)	2021			2021			2021			2020			2020			2021			2020
Adjusted non-interest expense:
Non-interest expense	$	44,180		$	42,981		$	38,842		$	47,021		$	41,687		$	126,003		$	122,401
Less: Significant items
Impairment charges on assets held for sale		1,435			1,942			604			4,022			32			3,981			747
Adjusted non-interest expense	$	42,745		$	41,039		$	38,238		$	42,999		$	41,655		$	122,022		$	121,654
Adjusted non-interest expense excluding    amortization of intangible assets:
Adjusted non-interest expense	$	42,745		$	41,039		$	38,238		$	42,999		$	41,655		$	122,022		$	121,654
Less: Amortization of intangible assets		1,738			1,848			1,749			1,892			1,947			5,335			5,732
Adjusted non-interest expense excluding    amortization of intangible assets	$	41,007		$	39,191		$	36,489		$	41,107		$	39,708		$	116,687		$	115,922
Pre-tax pre-provision net income:
Pre-tax income	$	33,808		$	38,164		$	29,173		$	16,453		$	18,331		$	101,145		$	35,214
Add: Provision/(recapture) for loan   and lease losses		352			(1,969	)		4,367			10,236			15,740			2,750			45,713
Pre-tax pre-provision net income	$	34,160		$	36,195		$	33,540		$	26,689		$	34,071		$	103,895		$	80,927
Adjusted pre-tax pre-provision net income:
Pre-tax pre-provision net income	$	34,160		$	36,195		$	33,540		$	26,689		$	34,071		$	103,895		$	80,927
Impairment charges on assets held for sale		1,435			1,942			604			4,022			32			3,981			747
Adjusted pre-tax pre-provision net income	$	35,595		$	38,137		$	34,144		$	30,711		$	34,103		$	107,876		$	81,674
Tax equivalent net interest income
Net interest income	$	59,845		$	58,174		$	56,640		$	56,020		$	53,524		$	174,659		$	158,958
Add: Tax-equivalent adjustment		264			269			250			240			222			783			552
Net interest income, fully taxable equivalent	$	60,109		$	58,443		$	56,890		$	56,260		$	53,746		$	175,442		$	159,510
Total revenues:
Net interest income	$	59,845		$	58,174		$	56,640		$	56,020		$	53,524		$	174,659		$	158,958
Add: Non-interest income		18,495			21,002			15,742			17,690			22,234			55,239			44,370
Total revenues	$	78,340		$	79,176		$	72,382		$	73,710		$	75,758		$	229,898		$	203,328
Tangible common stockholders' equity:
Total stockholders' equity	$	824,418		$	817,073		$	793,795		$	805,464		$	794,696		$	824,418		$	794,696
Less: Preferred stock		10,438			10,438			10,438			10,438			10,438			10,438			10,438
Less: Goodwill and other intangibles		167,296			169,034			170,882			172,631			174,523			167,296			174,523
Tangible common stockholders' equity	$	646,684		$	637,601		$	612,475		$	622,395		$	609,735		$	646,684		$	609,735
Tangible assets:
Total assets	$	6,704,451		$	6,540,602		$	6,750,125		$	6,390,652		$	6,496,513		$	6,704,451		$	6,496,513
Less: Goodwill and other intangibles		167,296			169,034			170,882			172,631			174,523			167,296			174,523
Tangible assets	$	6,537,155		$	6,371,568		$	6,579,243		$	6,218,021		$	6,321,990		$	6,537,155		$	6,321,990
Average tangible common stockholders'    equity:
Average total stockholders' equity	$	823,754		$	810,490		$	806,452		$	805,593		$	791,111		$	813,629		$	777,522
Less: Average preferred stock		10,438			10,438			10,438			10,438			10,438			10,438			10,438
Less: Average goodwill and other    intangibles		168,140			169,906			171,795			173,536			175,443			169,934			177,426
Average tangible common stockholders'   equity	$	645,176		$	630,146		$	624,219		$	621,619		$	605,230		$	633,257		$	589,658
Average tangible assets:
Average total assets	$	6,560,868		$	6,720,492		$	6,587,765		$	6,400,621		$	6,401,290		$	6,622,943		$	6,052,682
Less: Average goodwill and other    intangibles		168,140			169,906			171,795			173,536			175,443			169,934			177,426
Average tangible assets	$	6,392,728		$	6,550,586		$	6,415,970		$	6,227,085		$	6,225,847		$	6,453,009		$	5,875,256
Tangible net income available to common    stockholders:
Net income available to common   stockholders	$	25,110		$	28,297		$	21,602		$	12,095		$	12,875		$	75,009		$	24,589
Add: After-tax intangible asset amortization		1,265			1,344			1,272			1,365			1,405			3,881			4,136
Tangible net income available to common    stockholders	$	26,375		$	29,641		$	22,874		$	13,460		$	14,280		$	78,890		$	28,725
Adjusted tangible net income available   to common stockholders:
Tangible net income available to common    stockholders	$	26,375		$	29,641		$	22,874		$	13,460		$	14,280		$	78,890		$	28,725
Impairment charges on assets held for sale		1,435			1,942			604			4,022			32			3,981			747
Tax benefit on significant items		(391	)		(529	)		(165	)		(1,120	)		(9	)		(1,085	)		(208	)
Adjusted tangible net income available to    common stockholders	$	27,419		$	31,054		$	23,313		$	16,362		$	14,303		$	81,786		$	29,264

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 Nine Months Ended
(dollars in thousands, except share and per share    data, ratios annualized, where applicable)	September 30,			June 30,			March 31,			December 31,			September 30,			September 30,			September 30,
	2021			2021			2021			2020			2020			2021			2020
Pre-tax pre-provision return on average assets:
Pre-tax pre-provision net income	$	34,160		$	36,195		$	33,540		$	26,689		$	34,071		$	103,895		$	80,927
Average total assets		6,560,868			6,720,492			6,587,765			6,400,621			6,401,290			6,622,943			6,052,682
Pre-tax pre-provision return on average assets		2.07	%		2.16	%		2.06	%		1.66	%		2.12	%		2.10	%		1.79	%

Byline Bancorp, Inc.

Page 19 of 19

Adjusted pre-tax pre-provision return on average    assets:
Adjusted pre-tax pre-provision net income	$	35,595		$	38,137		$	34,144		$	30,711		$	34,103		$	107,876		$	81,674
Average total assets		6,560,868			6,720,492			6,587,765			6,400,621			6,401,290			6,622,943			6,052,682
Adjusted pre-tax pre-provision return on average    assets		2.15	%		2.28	%		2.10	%		1.91	%		2.12	%		2.18	%		1.80	%
Net interest margin, fully taxable equivalent
Net interest income, fully taxable equivalent	$	60,109		$	58,443		$	56,890		$	56,260		$	53,746		$	175,442		$	159,510
Total average interest-earning assets		6,076,065			6,231,616			5,913,746			5,916,554			5,916,554			6,135,051			5,573,945
Net interest margin, fully taxable equivalent		3.92	%		3.76	%		3.78	%		3.78	%		3.61	%		3.82	%		3.82	%
Non-interest income to total revenues:
Non-interest income	$	18,495		$	21,002		$	15,742		$	17,690		$	22,234		$	55,239		$	44,370
Total revenues		78,340			79,176			72,382			73,710			75,758			229,898			203,328
Non-interest income to total revenues		23.61	%		26.53	%		21.75	%		24.00	%		29.35	%		24.03	%		21.82	%
Adjusted non-interest expense to average assets:
Adjusted non-interest expense	$	42,745		$	41,039		$	38,238		$	42,999		$	41,655		$	122,022		$	121,654
Average total assets		6,560,868			6,720,492			6,587,765			6,400,621			6,401,290			6,622,943			6,052,682
Adjusted non-interest expense to average assets		2.58	%		2.45	%		2.35	%		2.67	%		2.59	%		2.46	%		2.68	%
Adjusted efficiency ratio:
Adjusted non-interest expense excluding    amortization of intangible assets	$	41,007		$	39,191		$	36,489		$	41,107		$	39,708		$	116,687		$	115,922
Total revenues		78,340			79,176			72,382			73,710			75,758			229,898			203,328
Adjusted efficiency ratio		52.35	%		49.50	%		50.41	%		55.77	%		52.42	%		50.76	%		57.01	%
Adjusted return on average assets:
Adjusted net income	$	26,350		$	29,905		$	22,237		$	15,193		$	13,094		$	78,492		$	25,715
Average total assets		6,560,868			6,720,492			6,587,765			6,400,621			6,401,290			6,622,943			6,052,682
Adjusted return on average assets		1.59	%		1.78	%		1.37	%		0.94	%		0.81	%		1.58	%		0.57	%
Adjusted return on average stockholders' equity:
Adjusted net income	$	26,350		$	29,905		$	22,237		$	15,193		$	13,094		$	78,492		$	25,715
Average stockholders' equity		823,754			810,490			806,452			805,593			791,111			813,629			777,522
Adjusted return on average stockholders' equity		12.69	%		14.80	%		11.18	%		7.50	%		6.58	%		12.90	%		4.42	%
Tangible common equity to tangible assets:
Tangible common equity	$	646,684		$	637,601		$	612,475		$	622,395		$	609,735		$	646,684		$	609,735
Tangible assets		6,537,155			6,371,568			6,579,243			6,218,021			6,321,990			6,537,155			6,321,990
Tangible common equity to tangible assets		9.89	%		10.01	%		9.31	%		10.01	%		9.64	%		9.89	%		9.64	%
Return on average tangible common stockholders'    equity:
Tangible net income available to common    stockholders	$	26,375		$	29,641		$	22,874		$	13,460		$	14,280		$	78,890		$	28,725
Average tangible common stockholders' equity		645,176			630,146			624,219			621,619			605,230			633,257			589,658
Return on average tangible common    stockholders' equity		16.22	%		18.87	%		14.86	%		8.61	%		9.39	%		16.66	%		6.51	%
Adjusted return on average tangible common    stockholders' equity:
Adjusted tangible net income available to    common stockholders	$	27,419		$	31,054		$	23,313		$	16,362		$	14,303		$	81,786		$	29,264
Average tangible common stockholders' equity		645,176			630,146			624,219			621,619			605,230			633,257			589,658
Adjusted return on average tangible common    stockholders' equity		16.86	%		19.77	%		15.15	%		10.47	%		9.40	%		17.27	%		6.63	%
Tangible book value per share:
Tangible common equity	$	646,684		$	637,601		$	612,475		$	622,395		$	609,735		$	646,684		$	609,735
Common shares outstanding		37,690,087			38,094,972			38,641,851			38,618,054			38,568,916			37,690,087			38,568,916
Tangible book value per share	$	17.16		$	16.74		$	15.85		$	16.12		$	15.81		$	17.16		$	15.81

EX-99.2

Q3 2021 Conference Call Exhibit 99.2

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 judgement 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. The COVID-19 pandemic is adversely affecting us, our employees, customers, counterparties and third-party service providers, and the ultimate extent of the impacts on our business, financial position, results of operations, liquidity, and prospects is uncertain. Deterioration in general business and economic conditions, including increases in unemployment rates or turbulence in U.S. or global financial markets, could adversely affect our revenues and the values of our assets and liabilities, reduce the availability of funding, and lead to a tightening of credit and further increase stock price volatility. In addition, changes to statutes, regulations, or regulatory policies or practices as a result of, or in response to COVID-19, could affect us in substantial and unpredictable ways. 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, 2020. 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. Due to rounding, numbers presented throughout this document may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.

Third Quarter 2021 Highlights Strong Loan Growth and Deposit Gathering Financial Performance Improving Credit Trends Increasing Return of Capital Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix. Net income of $25.3 million, or $0.66 per diluted share, compared to $28.5 million, or $0.73 per diluted share, in 2Q21 3Q21 earnings impacted by a $2.7 million loan servicing asset revaluation charge, negatively impacting diluted EPS by $0.07 per share Pre-Tax Pre-Provision of $34.2 million; Pre-Tax Pre-Provision ROAA(1) of 2.07% ROAA of 1.53% and ROTCE(1) of 16.22% Total loans and leases ex. PPP, increased $348.0 million, or 34.9% annualized, from 2Q21 Second consecutive quarter of significant loan growth Exceptional deposit mix driven by strong inflows of non-interest bearing commercial deposits NIM Expansion $25.3 million Net Income $0.66 Earnings per Diluted Share 1.53% Return on Average Assets 16.22% Return on Tangible Common Equity(1) $6.7 billion Total Assets 41.1% Non-interest Bearing Deposits 3.92% Net Interest Margin (FTE)(1) 11.32% CET1 Capital Ratio Net interest margin (FTE)(1) increased 16 bps to 3.92% from 3.76% in 2Q21 NIM excluding accretion increased 15 bps to 3.80% from 2Q21 Average cost of deposits was 0.08%, flat from 2Q21 NPLs (ex. gov gtd) declined from 0.66% to 0.61% in 3Q21 NCOs declined to 13 bps in 3Q21 from 17 bps in 2Q21 ALLL remains strong at 1.31%; 1.40% ex. PPP Deferrals stood at $2.0 million, or 0.05% of total loans and leases ex. PPP CET1 and total capital ratios remained strong at 11.32% and 14.78% Returning capital to stockholders through: $0.09 per share common stock dividend 460,220 shares of common stock repurchased during 3Q21

Loan and Lease Trends ($ in millions) Originations and Payoffs(1) Portfolio by Segment Total Loans & Leases and Average Yield Total loans and leases increased $163.1 million, or 14.4% annualized, to $4.7 billion Strong growth in the commercial, sponsor finance, equipment leasing, and government guaranteed loan portfolios Payoff activity decreased by $77.8 million from 2Q21 ex. PPP $428.0 million in originations in 3Q21 compared to $314.5 million in 2Q21 ex. PPP Line usage increased to 52.4% in 3Q21 from 50.6% in 2Q21 Rate Type(1) Year-over-Year Change, ex. PPP $588.0MM or 15.5% Excludes PPP Loans.

Government-Guaranteed Lending ($ in millions) On Balance Sheet SBA 7(a) & USDA Loans #5 SBA 7(a) lender in the United States as of September 30, 2021 #1 SBA 7(a) lender in: Illinois Wisconsin Closed $194.7 million loan commitments, up 36.1% from 2Q21 Total government guaranteed portfolio down $5.5 million to $468.0 million from 2Q21; ALLL/Unguaranteed loan balance ~ 8.1% Servicing $1.6 billion in government guaranteed loans for investors Serviced Loan Sector Concentration Total SBC Closed Loan Commitments September 30, 2021 $ Balance % of Portfolio(2) Unguaranteed $387.5 8.9% Guaranteed 80.5 1.9% Total SBA 7(a) Loans $468.0 10.8% Unguaranteed $39.0 0.9% Guaranteed 37.4 0.9% Total USDA Loans $76.4 1.8% (1) (1) Represents sectors with less than 5% of the total portfolio. Excludes PPP Loans.

Total deposits increased $66.1 million, or 5.2% annualized, to $5.2 billion Strong inflow of commercial non-interest bearing deposits Deposit mix remains exceptional with non-interest bearing representing 41.1% of total deposits Commercial deposits accounted for 48.7% of total deposits and represents 77.0% of all non-interest bearing deposits Deposit Trends ($ in millions) Average Non-Interest Bearing Deposits Deposit Composition Cost of Interest Bearing Deposits Year-over-Year Change $363.0MM or 20.8%

Net Interest Income and Net Interest Margin Trends ($ in millions) Net interest income was $59.8 million, up 2.9% from 2Q21 Net interest margin increased 17 basis points from 2Q21 to 3.91% Excluding accretion income, net interest margin increased 15 basis point from 2Q21 $246.7 million of CDs maturing in 4Q21 with an average rate of 0.21% Loans and leases to deposits remains stable at 90.3% Net Interest Margin Drivers of NIM Change NIM, Yields, and Costs

Total Non-Interest Income Non-Interest Income Trends ($ in millions) Non-interest income decreased $2.5 million from 2Q21 $2.7 million loan servicing asset revaluation charge Wealth management increased 12.8% linked quarter and 17.7% year-over-year Volume Sold and Average Net Premiums Net Gains on Sales of Loans Government Guaranteed Loan Sales $104.2 million of loan sales in 3Q21, compared to $100.6 million in 2Q21 SBA enhancements ended September 30, 2021 SBA 7(a) program – 90% guarantee decreased to 75% 7(a) and 504 fees no longer waived

Non-Interest Expense Trends ($ in millions) Non-interest expense increased to $44.2 million from $43.0 million in 2Q21, primarily attributable to: $1.4 million in higher salaries and employee benefits, primarily due to new hires and increased commission expense Increase in other non-interest income expense, mainly due to advertising campaigns Decrease in loan and leases related expense, primarily due to decreases in government guaranteed loan expenses Efficiency ratio of 54.18%; Adjusted efficiency ratio(1) of 52.35% improved from 52.42% in 3Q20 Efficiency Ratio Non-Interest Expense (1) Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix.

Asset Quality Trends ($ in millions) NPLs / Total Loans & Leases Loss Absorbency 1.31% 1.54% 1.38% 1.78% Net Charge-offs Non-performing assets to total assets declined to 0.56% in 3Q21 from 0.61% in 2Q21 NPLs / total loans and leases decreased 4 bps to 0.75% in 3Q21 from 0.79% in 2Q21 NCOs / average loans and leases were 13 bps in 3Q21, down from 17 bps in 2Q21 ALLL + AAA / loans and leases ex. PPP was 1.54% in 3Q21 compared to 1.78% in 2Q21 Acquisition accounting adjustments (AAA) on acquired loans decreased to $6.3 million versus $9.4 million in the prior quarter

Project Sox Offer Migration Strong Capital Position and Focus on Return on Capital Capital Ratios Return on Average Tangible Common Equity (1) Tangible Book Value per Share ($) (1) (1) Repurchased 460,220 shares of common stock during 3Q21 at a cost of $10.4 million Repurchased 1,331,708 shares of common stock YTD at a cost of $28.9 million Declared common stock dividend of $0.09 per share in 3Q21 Total Payout (Dividend & Share Rep.) 49.2% YTD (1)(2) Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix. Calculation excludes impairment charges, merger-related expenses, and core systems conversion expense. Capital Returns to Stockholders

2021 Strategic Priorities and Outlook Drive organic loan and deposit growth Continue Investing in Technology to Improve Efficiencies and Enhance Revenue Generation Strategic M&A Opportunities and Team Lift-Outs with Attractive Metrics and Return Profile Increase Return of Capital to Stockholders Continue to Identify Opportunities to Improve Operating Leverage

Appendix

At or For the Three Months Ended 6/30/21 9/30/21 Gross PPP Loans $488.2 $275.6 Average PPP Loans, net $574.4 $383.8 Average Borrowings Under PPPLF $336.8 $252.5 PPP Interest and Processing Fee Income $4.5 $5.4 PPPLF Interest Expense $0.3 $0.3 Average Loan Yield ex. PPP 5.10% 4.87% PPP Deferred Loan Fee $15.9 $9.7 PPP Deferred Cost $4.1 $2.1 Project Sox Offer Migration Paycheck Protection Program Outstanding(1) Principal outstanding Unearned processing fee Deferred cost PPP loans, net # loans outstanding(2)   Forgiven First Round $12.6 $(0.2) $0.0 $12.4 128   95.9%                 Second Round 263.0 (9.5) 2.1 255.6 1,624   22.3%                 Total $275.6 $(9.7) $2.1 $268.1 1,752   70.7% As of September 30, 2021. Number of loans actual outstanding. PPP Overview ($ in millions)

Projected Acquisition Accounting Accretion Projected Accretion(1) ($ in millions) Accretion as a Percentage of Total Revenue Projections are updated quarterly, assumes no prepayments and are subject to change.

Five Quarter Financial Summary Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix.

Non-GAAP Reconciliation

Non-GAAP Reconciliation (continued)

Non-GAAP Reconciliation (continued)

Non-GAAP Reconciliation (continued)

Non-GAAP Reconciliation (continued)

XML

Document and Entity Information	Oct. 28, 2021
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Oct. 28, 2021
Entity Registrant Name	BYLINE BANCORP, INC.
Entity Central Index Key	0001702750
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity File Number	001-38139
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-3012593
Entity Address, Address Line One	180 North LaSalle Street
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60601
City Area Code	773
Local Phone Number	244-7000
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of each class	Common Stock
Trading Symbol	BY
Name of each exchange on which registered	NYSE