Parent Company Only Condensed Financial Statements

12 Months Ended

Dec. 31, 2023

Condensed Financial Information Disclosure [Abstract]

Parent Company Only Condensed Financial Statements

Note 22—Parent Company Only Condensed Financial Statements

The following represents the condensed financial statements of Byline Bancorp, Inc., the Parent Company:

Statements of Financial Condition

Parent Company Only

	As of December 31,
	2023		2022
ASSETS
Cash	$	39,461	$	25,275
Investment in banking subsidiary		1,112,514		835,538
Other assets		13,893		16,924
Total assets	$	1,165,868	$	877,737
LIABILITIES AND STOCKHOLDERS’ EQUITY
Line of credit	$	11,250	$	—
Term loan		18,333		—
Subordinated notes, net		73,866		73,691
Junior subordinated debentures issued to capital trusts, net		70,452		37,338
Accrued expenses and other liabilities		1,816		892
Stockholders' equity		990,151		765,816
Total liabilities and stockholders' equity	$	1,165,868	$	877,737

Note 22—Parent Company Only Condensed Financial Statements (continued)

Statements of Operations

Parent Company Only

	Years ended December 31,
	2023			2022			2021
INCOME
Dividends from subsidiary	$	35,000		$	24,000		$	24,000
Other interest and dividend income		(247	)		(139	)		—
Change in fair value of equity securities, net		—			—			110
Other noninterest income		12			5			—
Total income		34,765			23,866			24,110
EXPENSES
Interest expense		11,495			7,149			6,412
Other noninterest expense		3,978			3,045			1,814
Total expenses		15,473			10,194			8,226
Income before provision for income taxes and equity in undistributed income    of subsidiary		19,292			13,672			15,884
Benefit for income taxes		(4,107	)		(2,633	)		(2,022	)
Income before equity in undistributed income of subsidiary		23,399			16,305			17,906
Equity in undistributed income of subsidiary		84,479			71,649			74,879
Net income	$	107,878		$	87,954		$	92,785

Statements of Cash Flows

Parent Company Only

	Years ended December 31,
	2023			2022			2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	107,878		$	87,954		$	92,785
Adjustments to reconcile net income to net cash from operating activities:
Equity in undistributed income of subsidiary		(84,479	)		(71,649	)		(74,879	)
Share-based compensation expense		6,715			5,334			4,018
Change in fair value of equity securities, net		—			—			(110	)
Amortization of subordinated debt issuance cost		175			174			175
Accretion of junior subordinated debentures discount		453			432			455
Changes in other assets and other liabilities		7,498			(14,531	)		(6,974	)
Net cash provided by operating activities		38,240			7,714			15,470
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of securities available-for-sale		(9,941	)		(250	)		(1,876	)
Net cash paid in acquisition of business		(30,902	)		—			—
Net cash used in investing activities		(40,843	)		(250	)		(1,876	)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from revolving line of credit		15,000			—			—
Repayments of revolving line of credit		(3,750	)		—			—
Proceeds from term loan		20,000			—			—
Repayments of term loan		(1,667	)		—			—
Dividends paid on preferred stock		—			(196	)		(783	)
Dividends paid on common stock		(14,585	)		(13,401	)		(11,269	)
Proceeds from issuance of common stock, net		1,791			1,506			2,140
Repurchase of preferred stock		—			(10,438	)		—
Repurchase of common stock		—			(17,274	)		(28,867	)
Net cash provided by (used in) financing activities		16,789			(39,803	)		(38,779	)
NET CHANGE IN CASH AND CASH EQUIVALENTS		14,186			(32,339	)		(25,185	)
CASH AND CASH EQUIVALENTS, beginning of period		25,275			57,614			82,799
CASH AND CASH EQUIVALENTS, end of period	$	39,461		$	25,275		$	57,614