BYLINE BANCORP, INC. (Form: 8-K, Received: 07/28/2022 16:23:31)

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): July 25, 2022

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. ☐

 
Item 2.02.

 
Results of Operations and Financial Condition.

On July 28, 2022, Byline Bancorp, Inc., (“Byline" or the "Company”) issued a press release announcing its financial results for the second quarter ended June 30, 2022. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference.

On July 28, 2022, the Company made available on its website a slide presentation regarding the Company’s second quarter 2022 financial results, which will be used as part of a publicly accessible conference call on July 29, 2022. A copy of the slide presentation is attached as Exhibit 99.2 and is incorporated herein by reference.

The information included in Item 2.02 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 5.02(b), (c). Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Resignation of Lindsay Corby as Chief Financial Officer; Appointment of Thomas J. Bell III as Chief Financial Officer and Maria Sherylle A. Olano as Chief Accounting Officer

On July 28, 2022, Byline and its wholly-owned subsidiary, Byline Bank, announced that, Thomas J Bell, III, currently Senior Vice President, Treasurer, and a member of Byline's executive leadership team, will succeed Lindsay Corby as Chief Financial Officer, effective August 15, 2022. Ms. Corby, an executive officer of Byline and Byline Bank since its recapitalization in 2013, is leaving the company to pursue an opportunity at a financial services company outside of the banking industry. There are no disagreements between Ms. Corby and the Company or Byline Bank, and her departure is not related to the operations, policies or practices of the Company or Byline Bank or any issues regarding accounting policies or practices. She will continue with the Company to support the transition of her duties until her departure in early September 2022.

Further, Byline announced that Ms. Maria Sherylle A. Olano, currently Senior Vice President, Corporate Controller of Byline Bank, will also assume the title of Senior Vice President, Chief Accounting Officer of the Company and Byline Bank effective August 15, 2022.

There are no arrangements or understandings required to be disclosed pursuant to Item 401(b) of Regulation S-K or family relationships required to be disclosed pursuant to Item 401(d) of Regulation S-K. Similarly, there are no transactions with related persons required to be disclosed pursuant to Item 404(a) of Regulation S-K involving Mr. Bell or Ms. Olano.

A copy of the press release announcing Chief Financial Officer Transition Plan is included as Exhibit 99.3 to this Current Report on Form 8-K and incorporated by reference herein.


Item 9.01.	Financial Statements and Exhibits.

(d) Exhibits.



Exhibit No.	Description

99.1		Second quarter 2022 financial results press release, dated July 28, 2022
99.2 99.3		Slide Presentation regarding second quarter 2022 financial results Press release, dated July 28, 2022
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.

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, 2021. 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.

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: July 28, 2022	By:	/s/ Roberto R. Herencia
	Name:	Roberto R. Herencia
	Title:	Executive Chairman and Chief Executive Officer

Exhibit 99.1

Byline Bancorp, Inc. Reports Second Quarter 2022 Financial Results

Select Second Quarter 2022 Financial Highlights

•

Net income of $20.3 million, or $0.54 per diluted share

•

Net interest income of $61.6 million and $14.2 million of non-interest income

•

Total revenue1 of $75.8 million

•

Net interest margin of 3.76%

•

Return on average assets of 1.17%

•

Efficiency ratio of 55.29%

•

Non-interest bearing deposits totaled 40.5% of total deposits

•

Originated loans and leases increased $425.1 million, loan and lease production, net of loan sales of $443.0 million

•

Common Equity Tier 1 to risk weighted assets of 10.26%

Chicago, IL, July 28, 2022 – 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 $20.3 million, or $0.54 per diluted share, for the second quarter of 2022, compared with net income of $22.3 million, or $0.58 per diluted share, for the first quarter of 2022, and net income of $28.5 million, or $0.73 per diluted share, for the second quarter 2021.

Roberto R. Herencia, Executive Chairman and Chief Executive Officer of Byline Bancorp, Inc., commented, “We are pleased with our second quarter results as our team continued to move with agility and execute well in a highly dynamic environment. We continued to experience healthy growth in our loan and lease portfolio as we eclipsed $5.0 billion in loans and leases and surpassed $7.0 billion total assets. I want to thank our employees for their hard work and unwavering dedication to our business.”

Alberto J. Paracchini, President of Byline Bancorp, Inc. added, “Our second quarter results reflect the strength and durability of our business model as we posted strong growth in net interest income. Loan and lease growth exceeded our expectations with annualized growth of 34.2%, excluding PPP loans. Credit quality remains solid, and we continue to manage our operating expenses prudently. As we head into the second half of the year we face an uncertain economic environment. However, we believe we are well positioned for the range of possible outcomes given our strong liquidity and capital ratios, our diversified business mix, and our well-established risk management track record.”

Board Declares Cash Dividend of $0.09 per Share

On July 26, 2022, the Company's Board of Directors declared a cash dividend of $0.09 per share, payable on August 23, 2022, to stockholders of record of the Company's common stock as of August 9, 2022.

Company Completes Branch Consolidations

The Company continued to execute on its previously announced strategic efforts to optimize its branch network by consolidating six branches during the second quarter 2022, which resulted in a one-time charge of $267,000 during the quarter. These consolidations conclude the Company’s branch consolidation and real estate reduction strategic efforts announced on December 10, 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 17

STATEMENTS OF OPERATIONS

Net Interest Income

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
	June 30, 2022									March 31, 2022									June 30, 2021
(dollars in thousands)	Average Balance(5)			Interest Inc / Exp			Avg. Yield / Rate			Average Balance(5)			Interest Inc / Exp			Avg. Yield / Rate			Average Balance(5)			Interest Inc / Exp			Avg. Yield / Rate
ASSETS
Cash and cash equivalents	$	66,034		$	74			0.45	%	$	74,822		$	29			0.16	%	$	75,382		$	28			0.15	%
Loans and leases(1)		5,009,077			59,674			4.78	%		4,670,070			55,426			4.81	%		4,491,197			54,324			4.85	%
Taxable securities		1,330,200			5,904			1.78	%		1,339,345			5,475			1.66	%		1,477,070			5,947			1.62	%
Tax-exempt securities(2)		168,567			1,131			2.69	%		169,652			1,124			2.69	%		187,967			1,281			2.73	%
Total interest-earning assets	$	6,573,878		$	66,783			4.07	%	$	6,253,889		$	62,054			4.02	%	$	6,231,616		$	61,580			3.96	%
Allowance for loan and lease losses		(59,883	)								(55,885	)								(65,848	)
All other assets		461,730									507,982									554,724
TOTAL ASSETS	$	6,975,725								$	6,705,986								$	6,720,492
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits
Interest checking	$	615,831		$	415			0.27	%	$	579,297		$	178			0.12	%	$	626,886		$	220			0.14	%
Money market accounts		1,307,320			1,194			0.37	%		1,255,431			474			0.15	%		1,052,223			279			0.11	%
Savings		664,954			83			0.05	%		649,269			76			0.05	%		607,035			72			0.05	%
Time deposits		627,199			436			0.28	%		662,080			359			0.22	%		717,795			487			0.27	%
Total interest-bearing deposits		3,215,304			2,128			0.27	%		3,146,077			1,087			0.14	%		3,003,939			1,058			0.14	%
Other borrowings		497,082			1,083			0.87	%		290,545			395			0.55	%		642,586			482			0.30	%
Federal funds purchased		2,527			14			2.32	%		—			—			0.00	%		—			—			0.00	%
Subordinated notes and debentures		110,649			1,694			6.14	%		110,490			1,600			5.87	%		110,030			1,597			5.82	%
Total borrowings		610,258			2,791			1.83	%		401,035			1,995			2.02	%		752,616			2,079			1.11	%
Total interest-bearing liabilities	$	3,825,562		$	4,919			0.52	%	$	3,547,112		$	3,082			0.35	%	$	3,756,555		$	3,137			0.33	%
Non-interest-bearing demand deposits		2,265,426									2,248,035									2,085,358
Other liabilities		104,085									78,678									68,089
Total stockholders’ equity		780,652									832,161									810,490
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	6,975,725								$	6,705,986								$	6,720,492
Net interest spread(3)								3.55	%								3.67	%								3.63	%
Net interest income, fully taxable equivalent				$	61,864								$	58,972								$	58,443
Net interest margin, fully taxable equivalent(2)(4)								3.77	%								3.82	%								3.76	%
Tax-equivalent adjustment					(237	)		0.01	%					(236	)		0.01	%					(269	)		0.02	%
Net interest income				$	61,627								$	58,736								$	58,174
Net interest margin(4)								3.76	%								3.81	%								3.74	%

Net loan accretion impact on margin				$	1,383			0.08	%				$	1,476			0.10	%				$	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 3 of 17

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


							June 30, 2022
	Three Months Ended						Change from
	June 30,		March 31,		June 30,		March 31,			June 30,
(dollars in thousands)	2022		2022		2021		2022			2021
INTEREST AND DIVIDEND INCOME
Interest and fees on loans and leases	$	59,674	$	55,426	$	54,324		7.7	%		9.8	%
Interest on securities		6,264		6,155		6,359		1.8	%		(1.5	)%
Other interest and dividend income		608		237		628		157.2	%		(3.3	)%
Total interest and dividend income		66,546		61,818		61,311		7.6	%		8.5	%
INTEREST EXPENSE
Deposits		2,128		1,087		1,058		95.8	%		101.2	%
Other borrowings		1,097		395		482		178.0	%		128.0	%
Subordinated notes and debentures		1,694		1,600		1,597		5.9	%		6.0	%
Total interest expense		4,919		3,082		3,137		59.6	%		56.8	%
Net interest income	$	61,627	$	58,736	$	58,174		4.9	%		5.9	%

Net interest income for the second quarter of 2022 was $61.6 million, an increase of $2.9 million, or 4.9%, from the first quarter of 2022.

The increase in net interest income was primarily due to:

•

An increase of $4.2 million in interest income on loans and leases, primarily due to loan and lease growth.

Partially offset by:

•

An increase of $1.0 million in interest expense on deposits due to the rising interest rate environment.

Tax-equivalent net interest margin for the second quarter of 2022 was 3.77%, a decrease of five basis points compared to the first quarter of 2022. Total net accretion income on acquired loans contributed eight basis points to the net interest margin for the second quarter of 2022 compared to 10 basis points for the first quarter of 2022, a decrease of two basis points. PPP loan interest income and net fee income combined, contributed $746,000 to net interest income for the second quarter of 2022 compared to $2.7 million for the first quarter of 2022, a decrease of $1.9 million.

The average cost of total deposits was 0.16% for the second quarter of 2022, an increase of eight basis points compared to the first quarter of 2022. Average non-interest-bearing demand deposits were 41.3% of average total deposits for the second quarter of 2022 compared to 41.7% during the first quarter of 2022.

Provision for Loan and Lease Losses

The provision for loan and lease losses was $5.9 million for the second quarter of 2022, an increase of $913,000 compared to $5.0 million for the first quarter of 2022. The increase in provision during the second quarter of 2022 was mainly driven by changes to qualitative factors surrounding macroeconomic environment and rising interest rates, as well as growth in the loan and lease portfolio.

Byline Bancorp, Inc.

Page 4 of 17

Non-interest Income

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


										June 30, 2022
	Three Months Ended									Change from
	June 30,			March 31,			June 30,			March 31,			June 30,
(dollars in thousands)	2022			2022			2021			2022			2021
NON-INTEREST INCOME
Fees and service charges on deposits	$	2,059		$	1,884		$	1,768			9.2	%		16.4	%
Loan servicing revenue		3,384			3,380			3,188			0.1	%		6.1	%
Loan servicing asset revaluation		(4,636	)		(1,231	)		7		NM			NM
ATM and interchange fees		1,131			1,049			1,044			7.9	%		8.4	%
Net realized gains (losses) on securities available-for-sale		52			—			(136	)	NM			NM
Change in fair value of equity securities, net		(697	)		(35	)		517		NM			NM
Net gains on sales of loans		9,983			10,827			12,270			(7.8	)%		(18.6	)%
Wealth management and trust income		900			1,048			722			(14.2	)%		24.5	%
Other non-interest income		1,985			2,504			1,622			(20.7	)%		22.4	%
Total non-interest income	$	14,161		$	19,426		$	21,002			(27.1	)%		(32.6	)%

Non-interest income for the second quarter of 2022 was $14.2 million, a decrease of $5.3 million or 27.1%, compared to $19.4 million for the first quarter of 2022

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

•

An increase of $3.4 million in loan servicing asset revaluation charges due to higher downward asset revaluation adjustment resulting from unfavorable fair value adjustments due to increased discount rates; and

•

A decrease of $844,000 in net gains on sales of loans due to lower premiums on government guaranteed loan sales.

During the second quarter of 2022, we sold $118.5 million of U.S. government guaranteed loans compared to $102.3 million during the first quarter of 2022.

Non-interest Expense

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


								June 30, 2022
	Three Months Ended							Change from
	June 30,		March 31,			June 30,		March 31,			June 30,
(dollars in thousands)	2022		2022			2021		2022			2021
NON-INTEREST EXPENSE
Salaries and employee benefits	$	27,697	$	28,959		$	24,588		(4.4	)%		12.6	%
Occupancy and equipment expense, net		4,409		5,128			4,856		(14.0	)%		(9.2	)%
Impairment charge on assets held for sale		—		—			1,943	NM			NM
Loan and lease related expenses		942		(891	)		1,503	NM				(37.4	)%
Legal, audit and other professional fees		1,820		2,600			2,898		(30.0	)%		(37.2	)%
Data processing		3,396		3,186			2,847		6.6	%		19.3	%
Net loss recognized on other real estate owned and other related expenses		158		54			389		189.5	%		(59.4	)%
Other intangible assets amortization expense		1,868		1,596			1,848		17.0	%		1.1	%
Other non-interest expense		3,483		3,923			2,109		(11.1	)%		65.1	%
Total non-interest expense	$	43,773	$	44,555		$	42,981		(1.8	)%		1.8	%

Non-interest expense for the second quarter of 2022 was $43.8 million, a decrease of $782,000, or 1.8%, from $44.6 million for the first quarter of 2022.

Byline Bancorp, Inc.

Page 5 of 17

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

•

A decrease of $1.3 million in salaries and employee benefits primarily due to lower payroll taxes and higher deferred salary costs related to loan and lease originations; and

•

A decrease of $780,000 in legal, audit and other professional fees due to higher reimbursements of legal fees; and

•

A decrease of $719,000 in occupancy and equipment expense due to the net effects of our branch consolidation and real estate strategy.

Partially offset by:

•

An increase of $1.8 million in loan and lease related expenses due to second quarter loan and lease growth and recapture of government guaranteed loan expenses during the first quarter of 2022.

Our efficiency ratio was 55.29% for the second quarter of 2022 compared to 54.96% for the first quarter of 2022.

INCOME TAXES

We recorded income tax expense of $5.8 million during the second quarter of 2022, compared to $6.3 million during the first quarter of 2022. The effective tax rate was 22.3% and 22.0% for the second quarter of 2022 and first quarter of 2022, respectively. The effective tax rate is a result of tax benefits related to share-based compensation.

STATEMENTS OF FINANCIAL CONDITION

Total assets were $7.1 billion at June 30, 2022, an increase of $297.1 million compared to $6.8 billion at March 31, 2022.

The current quarter increase was primarily due to:

•

An increase in net loans and leases of $376.0 million primarily due to growth in originated commercial real estate and commercial and industrial loans.

Partially offset by:

•

A decrease in securities available-for-sale of $96.2 million primarily due to changes in market values.

Byline Bancorp, Inc.

Page 6 of 17

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


	June 30, 2022						March 31, 2022						June 30, 2021
(dollars in thousands)	Amount			% of Total			Amount			% of Total			Amount			% of Total
Originated loans and leases
Commercial real estate	$	1,672,438			32.4	%	$	1,527,920			31.9	%	$	1,156,824			25.9	%
Residential real estate		401,095			7.7	%		399,638			8.3	%		389,758			8.7	%
Construction, land development, and other land		434,132			8.4	%		351,519			7.3	%		271,710			6.1	%
Commercial and industrial		1,861,582			36.0	%		1,698,025			35.5	%		1,350,471			30.2	%
Paycheck Protection Program		10,391			0.2	%		36,260			0.8	%		476,282			10.7	%
Installment and other		926			0.0	%		945			0.0	%		982			0.0	%
Leasing financing receivables		438,379			8.5	%		379,527			7.9	%		267,300			6.0	%
Total originated loans and leases	$	4,818,943			93.2	%	$	4,393,834			91.7	%	$	3,913,327			87.6	%
Acquired impaired loans
Commercial real estate	$	60,075			1.2	%	$	67,092			1.4	%	$	91,313			2.0	%
Residential real estate		39,902			0.8	%		47,347			1.0	%		67,401			1.5	%
Construction, land development, and other land		1,184			0.0	%		1,357			0.0	%		2,008			0.0	%
Commercial and industrial		3,232			0.1	%		3,792			0.1	%		7,444			0.2	%
Installment and other		157			0.0	%		163			0.0	%		180			0.0	%
Total acquired impaired loans	$	104,550			2.1	%	$	119,751			2.5	%	$	168,346			3.7	%
Acquired non-impaired loans and leases
Commercial real estate	$	167,425			3.2	%	$	184,353			3.8	%	$	254,739			5.6	%
Residential real estate		40,174			0.8	%		47,735			1.0	%		65,119			1.5	%
Construction, land development, and other land		191			0.0	%		196			0.1	%		208			0.0	%
Commercial and industrial		32,569			0.6	%		37,794			0.8	%		58,320			1.3	%
Installment and other		227			0.0	%		248			0.0	%		311			0.0	%
Leasing financing receivables		3,992			0.1	%		5,157			0.1	%		9,087			0.3	%
Total acquired non-impaired loans and leases	$	244,578			4.7	%	$	275,483			5.8	%	$	387,784			8.7	%
Total loans and leases	$	5,168,071			100.0	%	$	4,789,068			100.0	%	$	4,469,457			100.0	%
Allowance for loan and lease losses		(62,436	)					(59,458	)					(61,719	)
Total loans and leases, net of allowance for loan and lease losses	$	5,105,635					$	4,729,610					$	4,407,738

PPP loans outstanding were $10.4 million as of June 30, 2022, compared with $36.3 million as of March 31, 2022. The decreased was as a result of forgiveness of PPP loans. Forgiveness for the second quarter 2022 was $25.9 million compared to $73.7 million for the first quarter of 2022. As of June 30, 2022, 115 PPP loans remain outstanding, and more than 97% of PPP loan balances have been forgiven.

Byline Bancorp, Inc.

Page 7 of 17

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:


										June 30, 2022
										Change from
(dollars in thousands)	June 30, 2022			March 31, 2022			June 30, 2021			March 31, 2022			June 30, 2021
Non-performing assets:
Non-accrual loans and leases	$	33,944		$	20,277		$	35,514			67.4	%		(4.4	)%
Past due loans and leases 90 days or more and still accruing interest		—			—			—		—%			—%
Total non-performing loans and leases	$	33,944		$	20,277		$	35,514			67.4	%		(4.4	)%
Other real estate owned		4,749			2,221			4,417			113.8	%		7.5	%
Total non-performing assets	$	38,693		$	22,498		$	39,931			72.0	%		(3.1	)%
Accruing troubled debt restructured loans (1)	$	1,358		$	1,456		$	2,395			(6.7	)%		(43.3	)%
Total non-performing loans and leases as a percentage of total loans and leases		0.66	%		0.42	%		0.79	%
Total non-performing assets as a percentage of total assets		0.54	%		0.33	%		0.61	%
Allowance for loan and lease losses as a percentage of non-performing loans and leases		183.94	%		293.23	%		173.79	%

Non-performing assets guaranteed by U.S. government:
Non-accrual loans guaranteed	$	1,731		$	1,832		$	5,847			(5.5	)%		(70.4	)%
Past due loans 90 days or more and still accruing interest guaranteed		—			—			—		—%			—%
Total non-performing loans guaranteed	$	1,731		$	1,832		$	5,847			(5.5	)%		(70.4	)%
Accruing troubled debt restructured loans guaranteed (1)	$	—		$	—		$	—		—%			—%
Total non-performing loans and leases not guaranteed as a percentage of total loans and leases		0.62	%		0.39	%		0.66	%
Total non-performing assets not guaranteed as a percentage of total assets		0.52	%		0.30	%		0.52	%

(1) Accruing troubled debt restructured loans are not included in total non-performing loans and leases or in non-performing assets.

Variances in non-performing assets were:

•

Non-performing loans and leases were $33.9 million at June 30, 2022, an increase of $13.7 million from $20.3 million at March 31, 2022 primarily due to one conventional non-performing relationship.

•

Other real estate owned was $4.7 million at June 30, 2022, an increase of $2.5 million from $2.2 million at March 31, 2022, primarily due to the transfer of one property into other real estate owned.

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
	June 30,			March 31,			June 30,
(dollars in thousands)	2022			2022			2021
Allowance for loan and lease losses, beginning of period	$	59,458		$	55,012		$	65,590
Provision/(recapture) for loan and lease losses		5,908			4,995			(1,969	)
Net charge-offs of loans and leases		(2,930	)		(549	)		(1,902	)
Allowance for loan and lease losses, end of period	$	62,436		$	59,458		$	61,719

Allowance for loan and lease losses to period end total loans and leases held for investment		1.21	%		1.24	%		1.38	%
Net charge-offs to average total loans and leases held for investment, net before ALLL		0.24	%		0.05	%		0.17	%
Provision/(recapture) for loan and lease losses to net charge-offs during the period		2.02	x		9.09	x	(1.04)x

Byline Bancorp, Inc.

Page 8 of 17

The allowance for loan and lease losses as a percentage of total loans and leases held for investment decreased to 1.21% at June 30, 2022 compared to 1.24% at March 31, 2022, primarily due to growth in the loan and lease portfolio, as well as the change in the mix of the portfolio.

In June 2016, the Financial Accounting Standards Board (“FASB”) issued new guidance on the recognition of credit losses, otherwise known as "CECL", which replaces the incurred loss impairment methodology with a methodology that reflects current expected credit losses. In November 2019, the FASB delayed the effective date of the standard for smaller reporting companies, which includes emerging growth companies. 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 second quarter of 2022 were $2.9 million, or 0.23% of average loans and leases, on an annualized basis, an increase of $2.4 million compared to $549,000, or 0.05% of average loans and leases, during the first quarter of 2022, and an increase of $1.0 million from $1.9 million or 0.17% of average loans and leases from the comparable period a year ago.

Net charge-offs for the second quarter of 2022 included $2.7 million in the unguaranteed portion of U.S. government guaranteed loans, while net charge-offs for the first quarter of 2022 and second quarter of 2021 included $362,000 and $1.6 million, respectively, in the unguaranteed portion of U.S. government guaranteed loans.

Deposits and Other Liabilities

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


							June 30, 2022 Change from
(dollars in thousands)	June 30, 2022		March 31, 2022		June 30, 2021		March 31, 2022			June 30, 2021
Non-interest-bearing demand deposits	$	2,180,927	$	2,281,612	$	2,089,455		(4.4	)%		4.4	%
Interest-bearing checking accounts		535,856		596,497		653,558		(10.2	)%		(18.0	)%
Money market demand accounts		1,323,287		1,357,679		1,023,675		(2.5	)%		29.3	%
Other savings		669,164		659,218		613,136		1.5	%		9.1	%
Time deposits (below $250,000)		544,759		505,141		567,469		7.8	%		(4.0	)%
Time deposits ($250,000 and above)		134,384		129,955		144,902		3.4	%		(7.3	)%
Total deposits	$	5,388,377	$	5,530,102	$	5,092,195		(2.6	)%		5.8	%

Total deposits decreased to $5.4 billion at June 30, 2022 compared to $5.5 billion at March 31, 2022. Non-interest-bearing deposits were 40.5% and 41.3% of total deposits at June 30, 2022 and March 31, 2022, respectively.

The decrease in the current quarter was primarily due to:

•

A decrease in non-interest-bearing deposits of $100.7 million, primarily due to decreases in commercial deposits; and

•

A decrease in interest-bearing checking accounts of $60.6 million, driven primarily by decreases in business accounts.

Partially offset by:

•

An increase in time deposits of $44.0 million, principally driven by an increase in brokered deposits.

Total borrowings and other liabilities were $978.2 million at June 30, 2022, an increase of $462.3 million from $515.9 million at March 31, 2022, primarily driven by a $370.0 million increase in FHLB advances and a $45.0 million increase in federal funds purchased.

Byline Bancorp, Inc.

Page 9 of 17

Stockholders’ Equity

Total stockholders’ equity was $765.2 million at June 30, 2022, a decrease of $23.5 million from $788.7 million at March 31, 2022. The decrease was primarily due to an increase in accumulated other comprehensive loss, and the repurchase of shares of our common stock under the Company's stock repurchase program. These were offset by an increase to retained earnings.

Under its stock repurchase program, the Company repurchased an aggregate 232,000 shares of its common stock at an average price of $23.84 per share during the second quarter of 2022.

The following table presents actual regulatory capital dollar amounts and ratios of the Company and Byline Bank as of June 30, 2022:


	Actual					Minimum Capital Required					Required to be Considered Well Capitalized
June 30, 2022	Amount		Ratio			Amount		Ratio			Amount		Ratio
Total capital to risk weighted assets:
Company	$	853,822		13.09	%	$	521,687		8.00	%	N/A		N/A
Bank		801,925		12.34	%		519,994		8.00	%	$	649,992		10.00	%
Tier 1 capital to risk weighted assets:
Company	$	714,195		10.95	%	$	391,265		6.00	%	N/A		N/A
Bank	$	737,298		11.34	%		389,995		6.00	%	$	519,994		8.00	%
Common Equity Tier 1 (CET1) to risk weighted assets:
Company	$	669,195		10.26	%	$	293,449		4.50	%	N/A		N/A
Bank		737,298		11.34	%		292,496		4.50	%	$	422,495		6.50	%
Tier 1 capital to average assets:
Company	$	714,195		10.34	%	$	276,366		4.00	%	N/A		N/A
Bank		737,298		10.68	%	$	276,159		4.00	%	$	345,199		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, July 29, 2022 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 761227. A recorded replay can be accessed through August 12, 2022 by dialing (866) 813-9403; passcode: 015913.

A slide presentation relating to our second quarter 2022 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 website at www.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 $7.1 billion in assets and operates more than 30 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.

Forward-Looking Statements

Byline Bancorp, Inc.

Page 10 of 17

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.

Contacts:


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

Byline Bancorp, Inc.

Page 11 of 17

BYLINE BANCORP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (unaudited)


	June 30,			March 31,			December 31,			September 30,			June 30,
(dollars in thousands)	2022			2022			2021			2021			2021
ASSETS
Cash and due from banks	$	58,844		$	48,015		$	35,247		$	46,900		$	50,558
Interest bearing deposits with other banks		83,057			105,564			122,684			95,978			52,138
Cash and cash equivalents		141,901			153,579			157,931			142,878			102,696
Equity and other securities, at fair value		7,860			10,677			10,578			10,299			10,575
Securities available-for-sale, at fair value		1,273,138			1,369,368			1,454,542			1,427,605			1,495,789
Securities held-to-maturity, at amortized cost		3,880			3,882			3,885			3,887			3,890
Restricted stock, at cost		30,002			13,977			22,002			15,927			11,927
Loans held for sale		17,284			39,520			64,460			48,372			25,046
Loans and leases:
Loans and leases		5,168,071			4,789,068			4,537,128			4,609,228			4,469,457
Allowance for loan and lease losses		(62,436	)		(59,458	)		(55,012	)		(60,598	)		(61,719	)
Net loans and leases		5,105,635			4,729,610			4,482,116			4,548,630			4,407,738
Servicing assets, at fair value		22,155			24,497			23,744			23,597			24,683
Premises and equipment, net		60,773			62,281			62,548			76,995			80,482
Other real estate owned, net		4,749			2,221			2,112			3,033			4,417
Goodwill and other intangible assets, net		162,094			163,962			165,558			167,296			169,034
Bank-owned life insurance		81,100			80,604			80,039			60,992			60,628
Deferred tax assets, net		78,950			67,335			50,329			45,165			43,127
Accrued interest receivable and other assets		142,196			113,123			116,328			129,775			100,570
Total assets	$	7,131,717		$	6,834,636		$	6,696,172		$	6,704,451		$	6,540,602
LIABILITIES AND STOCKHOLDERS’ EQUITY
LIABILITIES
Non-interest-bearing demand deposits	$	2,180,927		$	2,281,612		$	2,158,420		$	2,117,749		$	2,089,455
Interest-bearing deposits		3,207,450			3,248,490			2,996,627			3,040,529			3,002,740
Total deposits		5,388,377			5,530,102			5,155,047			5,158,278			5,092,195
Other borrowings		748,092			311,450			519,723			539,119			446,836
Subordinated notes, net		73,604			73,560			73,517			73,473			73,429
Junior subordinated debentures issued to capital trusts, net		37,123			37,011			36,906			36,796			36,682
Accrued expenses and other liabilities		119,360			93,842			74,597			72,367			74,387
Total liabilities		6,366,556			6,045,965			5,859,790			5,880,033			5,723,529
STOCKHOLDERS’ EQUITY
Preferred stock		—			—			10,438			10,438			10,438
Common stock		388			388			387			386			385
Additional paid-in capital		595,938			595,006			593,753			592,192			590,422
Retained earnings		307,278			290,397			271,676			258,077			236,363
Treasury stock		(47,181	)		(40,732	)		(31,570	)		(31,161	)		(20,712	)
Accumulated other comprehensive income (loss), net of tax		(91,262	)		(56,388	)		(8,302	)		(5,514	)		177
Total stockholders’ equity		765,161			788,671			836,382			824,418			817,073
Total liabilities and stockholders’ equity	$	7,131,717		$	6,834,636		$	6,696,172		$	6,704,451		$	6,540,602

Byline Bancorp, Inc.

Page 12 of 17

BYLINE BANCORP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)


	Three Months Ended															Six Months Ended
(dollars in thousands,	June 30,			March 31,			December 31,			September 30,			June 30,			June 30,			June 30,
except per share data)	2022			2022			2021			2021			2021			2022			2021
INTEREST AND DIVIDEND INCOME
Interest and fees on loans and leases	$	59,674		$	55,426		$	58,570		$	56,291		$	54,324		$	115,100		$	108,132
Interest on securities		6,264			6,155			5,619			5,534			6,359			12,419			12,448
Other interest and dividend income		608			237			495			947			628			845			890
Total interest and dividend income		66,546			61,818			64,684			62,772			61,311			128,364			121,470
INTEREST EXPENSE
Deposits		2,128			1,087			1,037			986			1,058			3,215			2,479
Other borrowings		1,097			395			330			349			482			1,492			984
Subordinated notes and debentures		1,694			1,600			1,589			1,592			1,597			3,294			3,193
Total interest expense		4,919			3,082			2,956			2,927			3,137			8,001			6,656
Net interest income		61,627			58,736			61,728			59,845			58,174			120,363			114,814
PROVISION/(RECAPTURE) FOR LOAN AND LEASE LOSSES		5,908			4,995			(1,293	)		352			(1,969	)		10,903			2,398
Net interest income after provision/(recapture) for loan and lease losses		55,719			53,741			63,021			59,493			60,143			109,460			112,416
NON-INTEREST INCOME
Fees and service charges on deposits		2,059			1,884			1,955			1,867			1,768			3,943			3,432
Loan servicing revenue		3,384			3,380			3,392			3,344			3,188			6,764			5,957
Loan servicing asset revaluation		(4,636	)		(1,231	)		(2,510	)		(2,650	)		7			(5,867	)		(1,498	)
ATM and interchange fees		1,131			1,049			1,219			1,201			1,044			2,180			2,056
Net realized gains (losses) on securities available-for-sale		52			—			(21	)		130			(136	)		52			1,326
Change in fair value of equity securities, net		(697	)		(35	)		(98	)		(275	)		517			(732	)		311
Net gains on sales of loans		9,983			10,827			12,924			12,761			12,270			20,810			20,589
Wealth management and trust income		900			1,048			764			815			722			1,948			1,490
Other non-interest income		1,985			2,504			1,389			1,302			1,622			4,489			3,081
Total non-interest income		14,161			19,426			19,014			18,495			21,002			33,587			36,744
NON-INTEREST EXPENSE
Salaries and employee benefits		27,697			28,959			28,850			25,978			24,588			56,656			46,394
Occupancy and equipment expense, net		4,409			5,128			4,995			4,982			4,856			9,537			10,635
Impairment charge on assets held for sale		—			—			8,351			1,434			1,943			—			2,547
Loan and lease related expenses		942			(891	)		2,328			1,175			1,503			51			2,454
Legal, audit, and other professional fees		1,820			2,600			2,376			2,710			2,898			4,420			5,112
Data processing		3,396			3,186			3,070			3,108			2,847			6,582			5,602
Net loss recognized on other real estate owned and other related expenses		158			54			26			42			389			212			1,010
Other intangible assets amortization expense		1,868			1,596			1,738			1,738			1,848			3,464			3,597
Other non-interest expense		3,483			3,923			7,234			3,013			2,109			7,406			4,472
Total non-interest expense		43,773			44,555			58,968			44,180			42,981			88,328			81,823
INCOME BEFORE PROVISION FOR INCOME TAXES		26,107			28,612			23,067			33,808			38,164			54,719			67,337
PROVISION FOR INCOME TAXES		5,824			6,301			5,878			8,502			9,672			12,125			17,047
NET INCOME		20,283			22,311			17,189			25,306			28,492			42,594			50,290
Dividends on preferred shares		—			196			196			196			195			196			391
INCOME AVAILABLE TO COMMON STOCKHOLDERS	$	20,283		$	22,115		$	16,993		$	25,110		$	28,297		$	42,398		$	49,899
EARNINGS PER COMMON SHARE
Basic	$	0.55		$	0.60		$	0.46		$	0.68		$	0.75		$	1.14		$	1.31
Diluted	$	0.54		$	0.58		$	0.45		$	0.66		$	0.73		$	1.12		$	1.29

Byline Bancorp, Inc.

Page 13 of 17

BYLINE BANCORP, INC. AND SUBSIDIARIES

SELECTED FINANCIAL DATA (unaudited)


	As of or For the Three Months Ended															As of or For the Six Months Ended
(dollars in thousands, except share	June 30,			March 31,			December 31,			September 30,			June 30,			June 30,			June 30,
and per share data)	2022			2022			2021			2021			2021			2022			2021

Earnings per Common Share
Basic earnings per common share	$	0.55		$	0.60		$	0.46		$	0.68		$	0.75		$	1.14		$	1.31
Diluted earnings per common share	$	0.54		$	0.58		$	0.45		$	0.66		$	0.73		$	1.12		$	1.29
Adjusted diluted earnings per common share(2)(3)(4)	$	0.54		$	0.58		$	0.69		$	0.69		$	0.77		$	1.12		$	1.34
Weighted average common shares outstanding (basic)		37,064,795			37,123,161			37,124,176			37,200,778			37,965,658			37,093,816			38,064,381
Weighted average common shares outstanding (diluted)		37,612,268			38,042,822			37,999,401			38,018,301			38,696,036			37,740,682			38,773,018
Common shares outstanding		37,669,102			37,811,582			37,713,903			37,690,087			38,094,972			37,669,102			38,094,972
Cash dividends per common share	$	0.09		$	0.09		$	0.09		$	0.09		$	0.06		$	0.18		$	0.12
Dividend payout ratio on common stock		16.67	%		15.52	%		20.00	%		13.64	%		8.22	%		16.07	%		9.30	%
Tangible book value per common share(1)	$	16.01		$	16.52		$	17.51		$	17.16		$	16.74		$	16.01		$	16.74
Key Ratios and Performance Metrics (annualized where applicable)
Net interest margin, fully taxable equivalent (1)(5)		3.77	%		3.82	%		3.97	%		3.92	%		3.76	%		3.80	%		3.77	%
Average cost of deposits		0.16	%		0.08	%		0.08	%		0.08	%		0.08	%		0.12	%		0.10	%
Efficiency ratio(2)		55.29	%		54.96	%		70.88	%		54.18	%		51.95	%		55.12	%		51.61	%
Adjusted efficiency ratio(1)(2)(3)		55.29	%		54.96	%		55.46	%		52.35	%		49.50	%		55.12	%		49.93	%
Non-interest expense to average assets		2.52	%		2.69	%		3.49	%		2.67	%		2.57	%		2.60	%		2.48	%
Adjusted non-interest expense to average assets(1)(3)		2.52	%		2.69	%		2.76	%		2.58	%		2.45	%		2.60	%		2.40	%
Return on average stockholders' equity		10.42	%		10.87	%		8.13	%		12.19	%		14.10	%		10.65	%		12.54	%
Adjusted return on average stockholders' equity(1)(3)(4)		10.42	%		10.87	%		12.42	%		12.69	%		14.80	%		10.65	%		13.01	%
Return on average assets		1.17	%		1.35	%		1.02	%		1.53	%		1.70	%		1.26	%		1.52	%
Adjusted return on average assets(1)(3)(4)		1.17	%		1.35	%		1.56	%		1.59	%		1.78	%		1.26	%		1.58	%
Non-interest income to total revenues(1)		18.69	%		24.85	%		23.55	%		23.61	%		26.53	%		21.82	%		24.24	%
Pre-tax pre-provision return on average assets(1)		1.84	%		2.03	%		1.29	%		2.07	%		2.16	%		1.93	%		2.11	%
Adjusted pre-tax pre-provision return on average assets(1)(3)		1.84	%		2.03	%		2.03	%		2.15	%		2.28	%		1.93	%		2.19	%
Return on average tangible common stockholders' equity(1)		14.06	%		14.36	%		10.94	%		16.22	%		18.87	%		14.21	%		16.88	%
Adjusted return on average tangible common stockholders' equity(1)(3)		14.06	%		14.36	%		16.38	%		16.86	%		19.77	%		14.21	%		17.48	%
Non-interest-bearing deposits to total deposits		40.47	%		41.26	%		41.87	%		41.06	%		41.03	%		40.47	%		41.03	%
Loans and leases held for sale and loans and lease held for investment to total deposits		96.23	%		87.31	%		89.26	%		90.29	%		88.26	%		96.23	%		88.26	%
Deposits to total liabilities		84.64	%		91.47	%		87.97	%		87.73	%		88.97	%		84.64	%		88.97	%
Deposits per branch	$	141,799		$	125,684		$	117,160		$	117,234		$	115,732		$	141,799		$	115,732
Asset Quality Ratios
Non-performing loans and leases to total loans and leases held for investment, net before ALLL		0.66	%		0.42	%		0.51	%		0.75	%		0.79	%		0.66	%		0.79	%
ALLL to total loans and leases held for investment, net before ALLL		1.21	%		1.24	%		1.21	%		1.31	%		1.38	%		1.21	%		1.38	%
Net charge-offs to average total loans and leases held for investment, net before ALLL		0.24	%		0.05	%		0.37	%		0.13	%		0.17	%		0.15	%		0.32	%
Acquisition accounting adjustments(4)	$	3,050		$	3,364		$	4,769		$	6,327		$	9,393		$	3,050		$	9,393
Capital Ratios
Common equity to total assets		10.73	%		11.54	%		12.33	%		12.14	%		12.33	%		10.73	%		12.33	%
Tangible common equity to tangible assets(1)		8.65	%		9.36	%		10.11	%		9.89	%		10.01	%		8.65	%		10.01	%
Leverage ratio		10.34	%		10.70	%		10.89	%		11.21	%		10.82	%		10.34	%		10.82	%
Common equity tier 1 capital ratio		10.26	%		10.75	%		11.39	%		11.32	%		11.97	%		10.26	%		11.97	%
Tier 1 capital ratio		10.95	%		11.49	%		12.37	%		12.32	%		13.05	%		10.95	%		13.05	%
Total capital ratio		13.09	%		13.72	%		14.70	%		14.78	%		15.74	%		13.09	%		15.74	%

(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.

(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 14 of 17

BYLINE BANCORP, INC. AND SUBSIDIARIES

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


	For the Six Months Ended June 30,
	2022									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	$	70,404		$	103			0.29	%	$	65,484		$	56			0.17	%
Loans and leases(1)		4,840,510			115,100			4.80	%		4,461,884			108,132			4.89	%
Taxable securities		1,334,747			11,379			1.72	%		1,453,976			11,326			1.57	%
Tax-exempt securities(2)		169,107			2,255			2.69	%		183,689			2,475			2.72	%
Total interest-earning assets	$	6,414,768		$	128,837			4.05	%	$	6,165,033		$	121,989			3.99	%
Allowance for loan and lease losses		(57,895	)								(66,415	)
All other assets		484,728									555,877
TOTAL ASSETS	$	6,841,601								$	6,654,495
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits
Interest checking	$	597,665		$	593			0.20	%	$	587,030		$	419			0.14	%
Money market accounts		1,281,519			1,668			0.26	%		1,087,964			660			0.12	%
Savings		657,155			159			0.05	%		592,350			139			0.05	%
Time deposits		644,543			795			0.25	%		747,366			1,261			0.34	%
Total interest-bearing deposits		3,180,882			3,215			0.20	%		3,014,710			2,479			0.17	%
Other borrowings		394,385			1,478			0.76	%		646,093			984			0.31	%
Federal funds purchased		1,271			14			2.32	%		—			—			0.00	%
Subordinated notes and debentures		110,570			3,294			6.01	%		109,945			3,193			5.86	%
Total borrowings		506,226			4,786			1.91	%		756,038			4,177			1.11	%
Total interest-bearing liabilities	$	3,687,108		$	8,001			0.44	%	$	3,770,748		$	6,656			0.36	%
Non-interest-bearing demand deposits		2,256,778									2,005,213
Other liabilities		91,451									70,052
Total stockholders’ equity		806,264									808,482
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	6,841,601								$	6,654,495
Net interest spread(3)								3.61	%								3.63	%
Net interest income, fully taxable equivalent				$	120,836								$	115,333
Net interest margin, fully taxable equivalent(2)(4)								3.80	%								3.77	%
Tax-equivalent adjustment					(473	)		0.02	%					(519	)		0.01	%
Net interest income				$	120,363								$	114,814
Net interest margin(4)								3.78	%								3.76	%

Net loan accretion impact on margin				$	2,859			0.09	%				$	3,363			0.11	%

(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.

(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 15 of 17

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, total revenue, 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 Six Months Ended
	June 30,		March 31,		December 31,			September 30,			June 30,			June 30,		June 30,
(dollars in thousands, except per share data)	2022		2022		2021			2021			2021			2022		2021
Net income and earnings per share excluding significant items
Reported Net Income	$	20,283	$	22,311	$	17,189		$	25,306		$	28,492		$	42,594	$	50,290
Significant items:
Impairment charges on assets held for sale and ROU asset		—		—		12,449			1,434			1,943			—		2,547
Tax benefit		—		—		(3,377	)		(390	)		(530	)		—		(695	)
Adjusted Net Income	$	20,283	$	22,311	$	26,261		$	26,350		$	29,905		$	42,594	$	52,142
Reported Diluted Earnings per Share	$	0.54	$	0.58	$	0.45		$	0.66		$	0.73		$	1.12	$	1.29
Significant items:
Impairment charges on assets held for sale and ROU asset		—		—		0.33			0.04			0.05			—		0.07
Tax benefit		—		—		(0.09	)		(0.01	)		(0.01	)		—		(0.02	)
Adjusted Diluted Earnings per Share	$	0.54	$	0.58	$	0.69		$	0.69		$	0.77		$	1.12	$	1.34

Byline Bancorp, Inc.

Page 16 of 17

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 Six Months Ended
(dollars in thousands, except per share data,	June 30,		March 31,		December 31,			September 30,			June 30,			June 30,		June 30,
ratios annualized, where applicable)	2022		2022		2021			2021			2021			2022		2021
Adjusted non-interest expense:
Non-interest expense	$	43,773	$	44,555	$	58,968		$	44,180		$	42,981		$	88,328	$	81,823
Less: Significant items
Impairment charges on assets held for sale and ROU asset		—		—		12,449			1,434			1,943			—		2,547
Adjusted non-interest expense	$	43,773	$	44,555	$	46,519		$	42,746		$	41,038		$	88,328	$	79,276
Adjusted non-interest expense excluding amortization of intangible assets:
Adjusted non-interest expense	$	43,773	$	44,555	$	46,519		$	42,746		$	41,038		$	88,328	$	79,276
Less: Amortization of intangible assets		1,868		1,596		1,738			1,738			1,848			3,464		3,597
Adjusted non-interest expense excluding amortization of intangible assets	$	41,905	$	42,959	$	44,781		$	41,008		$	39,190		$	84,864	$	75,679
Pre-tax pre-provision net income:
Pre-tax income	$	26,107	$	28,612	$	23,067		$	33,808		$	38,164		$	54,719	$	67,337
Add: Provision/(recapture) for loan and lease losses		5,908		4,995		(1,293	)		352			(1,969	)		10,903		2,398
Pre-tax pre-provision net income	$	32,015	$	33,607	$	21,774		$	34,160		$	36,195		$	65,622	$	69,735
Adjusted pre-tax pre-provision net income:
Pre-tax pre-provision net income	$	32,015	$	33,607	$	21,774		$	34,160		$	36,195		$	65,622	$	69,735
Impairment charges on assets held for sale and ROU asset		—		—		12,449			1,434			1,943			—		2,547
Adjusted pre-tax pre-provision net income	$	32,015	$	33,607	$	34,223		$	35,594		$	38,138		$	65,622	$	72,282
Tax equivalent net interest income
Net interest income	$	61,627	$	58,736	$	61,728		$	59,845		$	58,174		$	120,363	$	114,814
Add: Tax-equivalent adjustment		237		236		256			264			269			473		519
Net interest income, fully taxable equivalent	$	61,864	$	58,972	$	61,984		$	60,109		$	58,443		$	120,836	$	115,333
Total revenue:
Net interest income	$	61,627	$	58,736	$	61,728		$	59,845		$	58,174		$	120,363	$	114,814
Add: Non-interest income		14,161		19,426		19,014			18,495			21,002			33,587		36,744
Total revenue	$	75,788	$	78,162	$	80,742		$	78,340		$	79,176		$	153,950	$	151,558
Tangible common stockholders' equity:
Total stockholders' equity	$	765,161	$	788,671	$	836,382		$	824,418		$	817,073		$	765,161	$	817,073
Less: Preferred stock		—		—		10,438			10,438			10,438			—		10,438
Less: Goodwill and other intangibles		162,094		163,962		165,558			167,296			169,034			162,094		169,034
Tangible common stockholders' equity	$	603,067	$	624,709	$	660,386		$	646,684		$	637,601		$	603,067	$	637,601
Tangible assets:
Total assets	$	7,131,717	$	6,834,636	$	6,696,172		$	6,704,451		$	6,540,602		$	7,131,717	$	6,540,602
Less: Goodwill and other intangibles		162,094		163,962		165,558			167,296			169,034			162,094		169,034
Tangible assets	$	6,969,623	$	6,670,674	$	6,530,614		$	6,537,155		$	6,371,568		$	6,969,623	$	6,371,568
Average tangible common stockholders' equity:
Average total stockholders' equity	$	780,652	$	832,161	$	838,975		$	823,754		$	810,490		$	806,264	$	808,482
Less: Average preferred stock		—		9,974		10,438			10,438			10,438			4,959		10,438
Less: Average goodwill and other intangibles		163,068		164,837		166,396			168,140			169,906			163,948		170,845
Average tangible common stockholders' equity	$	617,584	$	657,350	$	662,141		$	645,176		$	630,146		$	637,357	$	627,199
Average tangible assets:
Average total assets	$	6,975,725	$	6,705,986	$	6,699,069		$	6,560,868		$	6,720,492		$	6,841,601	$	6,654,495
Less: Average goodwill and other intangibles		163,068		164,837		166,396			168,140			169,906			163,948		170,845
Average tangible assets	$	6,812,657	$	6,541,149	$	6,532,673		$	6,392,728		$	6,550,586		$	6,677,653	$	6,483,650
Tangible net income available to common stockholders:
Net income available to common stockholders	$	20,283	$	22,115	$	16,993		$	25,110		$	28,297		$	42,398	$	49,899
Add: After-tax intangible asset amortization		1,361		1,163		1,266			1,265			1,344			2,524		2,616
Tangible net income available to common stockholders	$	21,644	$	23,278	$	18,259		$	26,375		$	29,641		$	44,922	$	52,515
Adjusted tangible net income available to common stockholders:
Tangible net income available to common stockholders	$	21,644	$	23,278	$	18,259		$	26,375		$	29,641		$	44,922	$	52,515
Impairment charges on assets held for sale and ROU asset		—		—		12,449			1,434			1,943			—		2,547
Tax benefit on significant items		—		—		(3,377	)		(390	)		(530	)		—		(695	)
Adjusted tangible net income available to common stockholders	$	21,644	$	23,278	$	27,331		$	27,419		$	31,054		$	44,922	$	54,367

Byline Bancorp, Inc.

Page 17 of 17

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 Six Months Ended
(dollars in thousands, except share and per share data, ratios annualized, where applicable)	June 30,			March 31,			December 31,			September 30,			June 30,			June 30,			June 30,
	2022			2022			2021			2021			2021			2022			2021
Pre-tax pre-provision return on average assets:
Pre-tax pre-provision net income	$	32,015		$	33,607		$	21,774		$	34,160		$	36,195		$	65,622		$	69,735
Average total assets		6,975,725			6,705,986			6,699,069			6,560,868			6,720,492			6,841,601			6,654,495
Pre-tax pre-provision return on average assets		1.84	%		2.03	%		1.29	%		2.07	%		2.16	%		1.93	%		2.11	%
Adjusted pre-tax pre-provision return on average assets:
Adjusted pre-tax pre-provision net income	$	32,015		$	33,607		$	34,223		$	35,594		$	38,138		$	65,622		$	72,282
Average total assets		6,975,725			6,705,986			6,699,069			6,560,868			6,720,492			6,841,601			6,654,495
Adjusted pre-tax pre-provision return on average assets		1.84	%		2.03	%		2.03	%		2.15	%		2.28	%		1.93	%		2.19	%
Net interest margin, fully taxable equivalent
Net interest income, fully taxable equivalent	$	61,864		$	58,972		$	61,984		$	60,109		$	58,443		$	120,836		$	115,333
Total average interest-earning assets		6,573,878			6,253,889			6,189,762			6,076,065			6,231,616			6,414,768			6,165,033
Net interest margin, fully taxable equivalent		3.77	%		3.82	%		3.97	%		3.92	%		3.76	%		3.80	%		3.77	%
Non-interest income to total revenues:
Non-interest income	$	14,161		$	19,426		$	19,014		$	18,495		$	21,002		$	33,587		$	36,744
Total revenues		75,788			78,162			80,742			78,340			79,176			153,950			151,558
Non-interest income to total revenues		18.69	%		24.85	%		23.55	%		23.61	%		26.53	%		21.82	%		24.24	%
Adjusted non-interest expense to average assets:
Adjusted non-interest expense	$	43,773		$	44,555		$	46,519		$	42,746		$	41,038		$	88,328		$	79,276
Average total assets		6,975,725			6,705,986			6,699,069			6,560,868			6,720,492			6,841,601			6,654,495
Adjusted non-interest expense to average assets		2.52	%		2.69	%		2.76	%		2.58	%		2.45	%		2.60	%		2.40	%
Adjusted efficiency ratio:
Adjusted non-interest expense excluding amortization of intangible assets	$	41,905		$	42,959		$	44,781		$	41,008		$	39,190		$	84,864		$	75,679
Total revenues		75,788			78,162			80,742			78,340			79,176			153,950			151,558
Adjusted efficiency ratio		55.29	%		54.96	%		55.46	%		52.35	%		49.50	%		55.12	%		49.93	%
Adjusted return on average assets:
Adjusted net income	$	20,283		$	22,311		$	26,261		$	26,350		$	29,905		$	42,594		$	52,142
Average total assets		6,975,725			6,705,986			6,699,069			6,560,868			6,720,492			6,841,601			6,654,495
Adjusted return on average assets		1.17	%		1.35	%		1.56	%		1.59	%		1.78	%		1.26	%		1.58	%
Adjusted return on average stockholders' equity:
Adjusted net income	$	20,283		$	22,311		$	26,261		$	26,350		$	29,905		$	42,594		$	52,142
Average stockholders' equity		780,652			832,161			838,975			823,754			810,490			806,264			808,482
Adjusted return on average stockholders' equity		10.42	%		10.87	%		12.42	%		12.69	%		14.80	%		10.65	%		13.01	%
Tangible common equity to tangible assets:
Tangible common equity	$	603,067		$	624,709		$	660,386		$	646,684		$	637,601		$	603,067		$	637,601
Tangible assets		6,969,623			6,670,674			6,530,614			6,537,155			6,371,568			6,969,623			6,371,568
Tangible common equity to tangible assets		8.65	%		9.36	%		10.11	%		9.89	%		10.01	%		8.65	%		10.01	%
Return on average tangible common stockholders' equity:
Tangible net income available to common stockholders	$	21,644		$	23,278		$	18,259		$	26,375		$	29,641		$	44,922		$	52,515
Average tangible common stockholders' equity		617,584			657,350			662,141			645,176			630,146			637,357			627,199
Return on average tangible common stockholders' equity		14.06	%		14.36	%		10.94	%		16.22	%		18.87	%		14.21	%		16.88	%
Adjusted return on average tangible common stockholders' equity:
Adjusted tangible net income available to common stockholders	$	21,644		$	23,278		$	27,331		$	27,419		$	31,054		$	44,922		$	54,367
Average tangible common stockholders' equity		617,584			657,350			662,141			645,176			630,146			637,357			627,199
Adjusted return on average tangible common stockholders' equity		14.06	%		14.36	%		16.38	%		16.86	%		19.77	%		14.21	%		17.48	%
Tangible book value per share:
Tangible common equity	$	603,067		$	624,709		$	660,386		$	646,684		$	637,601		$	603,067		$	637,601
Common shares outstanding		37,669,102			37,811,582			37,713,903			37,690,087			38,094,972			37,669,102			38,094,972
Tangible book value per share	$	16.01		$	16.52		$	17.51		$	17.16		$	16.74		$	16.01		$	16.74

Q2 2022 Conference Call

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. 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, 2021. 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.

$20.3 million Net Income $0.54 Earnings per Diluted Share 1.17% Return on Average Assets 14.06% Return on Tangible Common Equity(1) $7.1 billion Total Assets 40.5% Non-interest Bearing Deposits 3.77% Net Interest Margin (FTE)(1) 10.26% CET1 Capital Ratio Second Quarter 2022 Highlights Balance Sheet Financial Performance Asset Quality Capital Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix. Net income of $20.3 million, or $0.54 per diluted share, compared to $22.3 million, or $0.58 per diluted share, in 1Q22 2Q22 earnings impacted by $4.6 million loan servicing fair value mark, negatively impacting diluted EPS by $0.12 per share Pre-Tax Pre-Provision of $32.0 million; Pre-Tax Pre-Provision ROAA(1) of 1.84% ROAA of 1.17% and ROTCE(1) of 14.06% Total loans and leases ex. PPP, increased $404.9 million, or 34.2% annualized, linked quarter Strong portfolio growth, loans exceed $5.0 billion, loans and leases to deposits: 96.2% Origination growth driven by C&I, sponsor finance and leasing Average non-interest bearing deposits were up ~1% NIM Net interest margin (FTE)(1) decreased 5 bps to 3.77% from 3.82% in 1Q22 NIM excluding accretion decreased 3 bps to 3.68% from 1Q22 Average cost of deposit was 0.16%, up 8 bps from 1Q22 Solid first half credit quality performance amid an evolving macroeconomic environment NPLs (ex. gov gtd) increased from 0.39% to 0.62% in 2Q22 NCOs increased to 24 bps in 2Q22 from 5 bps in 1Q22 ALLL stood at 1.21% in 2Q22; ALLL coverage of 184% in 2Q22 CET1 and Total Capital ratios remained solid at 10.26% and 13.09% TCE/TA(1): 8.65% Returned capital to common stockholders through: $0.09 per share stock dividend 232,000 shares of stock repurchased during 2Q22

Loan and Lease Trends ($ in millions) Originations and Payoffs(1) Portfolio by Segment Total Loans & Leases and Average Yield Rate Type(1) Year-over-Year Change, ex. PPP $1.2 Billion or 28.8% Excludes PPP Loans. Total loans and leases were $5.2 billion at 2Q22, an increase of $356.8 million, or 29.6% annualized $443.0 million in loan and lease production, net of loan sales in 2Q22 compared to $324.9 million in 1Q22 Lease originations for 2Q22 were $95.6 million Net commitments increased $168.7 million from 1Q22 Line usage increased to 56.2% in 2Q22 from 54.3% in 1Q22 Originated portfolio increased $425.1 million, or $451.0 million ex. PPP from 1Q22

Government-Guaranteed Lending ($ in millions) On Balance Sheet SBA 7(a) & USDA Loans A leading SBA 7(a) lender as of June 30, 2022 #5 SBA 7(a) lender in the United States #1 SBA 7(a) lender in Illinois #1 SBA 7(a) lender in Wisconsin #4 SBA 7(a) lender in Iowa Closed $125.3 million loan commitments in 2Q22, down 12.4% YoY SBA 7(a) portfolio $478.8 million, flat from 1Q22; ALLL/Unguaranteed loan balance ~ 6.6% Servicing $1.7 billion in government guaranteed loans for investors Serviced Loan Sector Concentration Total SBC Closed Loan Commitments $ Balance % of Portfolio(2) Unguaranteed $377.2 7.3% Guaranteed 101.6 2.0% Total SBA 7(a) Loans $478.8 9.3% Unguaranteed $38.3 0.7% Guaranteed 25.8 0.5% Total USDA Loans $64.0 1.2% (1) (1) Represents sectors with less than 5% of the total portfolio. Excludes PPP Loans.

Total deposits were $5.4 billion, down 2.6% from 1Q22 Average non-interest-bearing deposits grew slightly linked quarter and remain stable at $2.3 billion Deposit mix remains exceptional with non-interest bearing representing 40.5% of total deposits Commercial deposits accounted for 48.0% of total deposits and represent 76.3% of all non-interest bearing deposits Deposit Trends ($ in millions) Average Non-Interest Bearing Deposits Deposit Composition Cost of Interest Bearing Deposits Year-over-Year Change $180.4MM or 8.6%

Net Interest Income and Net Interest Margin Trends Net interest income was $61.6 million, up 4.9% from 1Q22 Net interest margin decreased 5 basis points from 1Q22 to 3.76% Excluding accretion income, net interest margin decreased 3 basis points from 1Q22 Yield on loans and leases excluding PPP was 4.74%, up 9 basis points from 1Q22 $206.8 million of CDs maturing in 3Q22 with an average rate of 0.16% Net Interest Margin Drivers of NIM Change NIM, Yields, and Costs

Interest Rate Sensitivity Interest rate risk position remains asset sensitivity 7.8% NII per +100 bps increase in rates(1) 15.7% NII per +200 bps increase in rates(1) +$4-5 million in net interest income per 25 bps in Fed tightening Future NIM expansion: SBA asset repricing lag from Q2 rate increases to Q3 99% of variable rate loans are at their floors or do not have floors Well Positioned to Benefit from Higher Rates Variable Rate Floors By Index Variable Rate Impact (56% of Total Loans) ($ in millions) Index In the Money Out Of Money No Floor Total Total % Libor Based $699 $24 $307 $1,030 36% Prime Based 663 4 575 1,242 43% SOFR Based 579 - 14 593 20% Other 11 5 11 27 1% Total $1,952 $33 $907 $2,892 100% Total % 68% 1% 31% 100% ($ in millions) Loan Balance % of Total Balance Cumulative % of Total Balance No Floors / Floors Reached $2,859 99% 99% 1 - 50 bps To Reach Floor 28 1% 100% 51 - 100 bps To Reach Floor 4 0% 100% >100 bps To Reach Floor 1 0% 100% Total $2,892 100% Note: The projections assume immediate upward shift of the yield curve in Year 1. Year 1 ending June 30, 2023. Investment Portfolio $1.3 billion portfolio (~99% Available for Sale); duration: 5.4 years 2Q22 cash and securities / assets 20.0% Derivatives $550 million of balance sheet hedges to protect market value risk Liquidity $1.8 billion on balance sheet of available liquidity Loans and leases to deposits: 96.2%

Total Non-Interest Income Non-Interest Income Trends ($ in millions) Non-interest income was $14.2 million, a decrease of $5.3 million from 1Q22 $4.6 million loan servicing asset revaluation charge due to higher discount rates Lower premiums resulting in a decrease in net gains on sales of loans Volume Sold and Average Net Premiums Net Gains on Sales of Loans Government Guaranteed Loan Sales $118.5 million of guaranteed loans sold in 2Q22, compared to $102.3 million in 1Q22 Loans held for sale decreased to $17.3 million in 2Q22 from $39.5 million in 1Q22 9

Non-Interest Expense Trends ($ in millions) Non-interest expenses decreased to $43.8 million from $44.6 million in 1Q22, primarily attributable to: $1.3 million decrease in salaries and employee benefits mainly due to lower payroll taxes and higher deferred salary costs related to loan and lease originations Decrease in legal, audit and other professional fees due to higher reimbursements of legal fees Decrease in occupancy and equipment expense, due to the net effects of our branch consolidation and real estate strategy Efficiency ratio of 55.29% Deposits per branch increased to $141.8 million in 2Q22; up 12.8% linked quarter and up 22.5% year-over-year 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 Delinquencies Net Charge-offs Non-performing assets to total assets increased to 0.54% in 2Q22 from 0.33% in 1Q22 NPLs / total loans and leases increased from 0.42% in 1Q22 to 0.66% in 2Q22 NCOs / average loans and leases were 24 bps in 2Q22, up from 5 bps in 1Q22 ALLL + AAA / loans and leases ex. PPP was 1.27% in 2Q22 compared to 1.32% in 1Q22 Allowance for loan and lease losses increased to $62.4 million, up from $59.5 million in 1Q22, primarily driven by the growth in the originated portfolio and qualitative factors Note: Delinquencies represent accruing loans and leases past due 30 days or more. Delinquencies to Total Loans and Leases represent delinquencies divided by period end loans and leases.

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 232,000 shares of common stock during 2Q22 at a cost of $5.5 million Declared common stock dividend of $0.09 per share in 2Q22 Dividend Yield: 1.51% Dividend payout ratio: 16.67% Total Payout (Dividend & Share Rep.) 47.0% YTD (1) Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix. Capital Returns to Stockholders

2022 Strategic Priorities and Near-Term Outlook Commercial banking focus through organic loan, lease and deposit growth Low to mid teen loan growth for 2022 Investing in digital capabilities and automation Online deposit account opening for businesses - second half of 2022 / nCino loan origination enhancements Strategic M&A opportunities and team lift-outs with attractive metrics and return profile Continue the return of capital to stockholders Continue to identify opportunities to improve operating leverage Disciplined expense management Achieve enhanced profitability metrics Driven by increasing earning asset mix and well positioned for rising interest rates

Appendix

Five Quarter Financial Summary Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix. As of or For the Three Months Ended (dollars in thousands, except per share data) June 30, March 31, December 31, September 30, June 30, 2022 2022 2021 2021 2021 Income Statement Net interest income $ 61,627 $ 58,736 $ 61,728 $ 59,845 $ 58,174 Provision (recapture) for loan and lease losses 5,908 4,995 (1,293) 352 (1,969) Non-interest income 14,161 19,426 19,014 18,495 21,002 Non-interest expense 43,773 44,555 58,968 44,180 42,981 Income before provision for income taxes 26,107 28,612 23,067 33,808 38,164 Provision for income taxes 5,824 6,301 5,878 8,502 9,672 Net income 20,283 22,311 17,189 25,306 28,492 Dividends on preferred shares — 196 196 196 195 Net income available to common stockholders $ 20,283 $ 22,115 $ 16,993 $ 25,110 $ 28,297 Diluted earnings per common share(1) $ 0.54 $ 0.58 $ 0.45 $ 0.66 $ 0.73 Balance Sheet Total loans and leases $ 5,168,071 $ 4,789,068 $ 4,537,128 $ 4,609,228 $ 4,469,457 Total deposits 5,388,377 5,530,102 5,155,047 5,158,278 5,092,195 Tangible common equity(1) 603,067 624,709 660,386 646,684 637,601 Balance Sheet Metrics Loans and leases / total deposits 96.23% 87.31% 89.26% 90.29% 88.26% Tangible common equity / tangible assets(1) 8.65% 9.36% 10.11% 9.89% 10.01% Key Performance Ratios Net interest margin 3.76% 3.81% 3.96% 3.91% 3.74% Efficiency ratio 55.29% 54.96% 70.88% 54.18% 51.95% Adjusted efficiency ratio(1) 55.29% 54.96% 55.46% 52.35% 49.50% Non-interest expense to average assets 2.52% 2.69% 3.49% 2.67% 2.57% Non-interest income to total revenues 18.69% 24.85% 23.55% 23.61% 26.53% Return on average assets 1.17% 1.35% 1.02% 1.53% 1.70% Adjusted return on average assets(1) 1.17% 1.35% 1.56% 1.59% 1.78% Pre-tax pre-provision return on average assets (1) 1.84% 2.03% 1.29% 2.07% 2.16% Dividend payout ratio on common stock 16.67% 15.52% 20.00% 13.64% 8.22% Tangible book value per common share(1) $ 16.01 $ 16.52 $ 17.51 $ 17.16 $ 16.74

As of or For the Three Months Ended (dollars in thousands, except per share data) June 30, 2022 March 31, 2022 December 31, 2021 September 30, 2021 June 30, 2021 Net income and earnings per share excluding significant items Reported Net Income $ 20,283 $ 22,311 $ 17,189 $ 25,306 $ 28,492 Significant items: Impairment charges on assets held for sale and ROU asset — — 12,449 1,434 1,943 Tax benefit — — (3,377) (390) (530) Adjusted Net Income $ 20,283 $ 22,311 $ 26,261 $ 26,350 $ 29,905 Reported Diluted Earnings per Share $ 0.54 $ 0.58 $ 0.45 $ 0.66 $ 0.73 Significant items: Impairment charges on assets held for sale and ROU asset — — 0.33 0.04 0.05 Tax benefit — — (0.09) (0.01) (0.01) Adjusted Diluted Earnings per Share $ 0.54 $ 0.58 $ 0.69 $ 0.69 $ 0.77 Non-GAAP Reconciliation

As of or For the Three Months Ended (dollars in thousands) June 30, 2022 March 31, 2022 December 31, 2021 September 30, 2021 June 30, 2021 Adjusted non-interest expense: Non-interest expense $ 43,773 $ 44,555 $ 58,968 $ 44,180 $ 42,981 Less: Significant items Impairment charges on assets held for sale and ROU asset — — 12,449 1,434 1,943 Adjusted non-interest expense $ 43,773 $ 44,555 $ 46,519 $ 42,746 $ 41,038 Adjusted non-interest expense ex. amortization of intangible assets: Adjusted non-interest expense $ 43,773 $ 44,555 $ 46,519 $ 42,746 $ 41,038 Less: Amortization of intangible assets 1,868 1,596 1,738 1,738 1,848 Adjusted non-interest expense ex. amortization of intangible assets $ 41,905 $ 42,959 $ 44,781 $ 41,008 $ 39,190 Pre-tax pre-provision net income: Pre-tax income $ 26,107 $ 28,612 $ 23,067 $ 33,808 $ 38,164 Add: Provision for loan and lease losses 5,908 4,995 (1,293) 352 (1,969) Pre-tax pre-provision net income $ 32,015 $ 33,607 $ 21,774 $ 34,160 $ 36,195 Adjusted pre-tax pre-provision net income: Pre-tax pre-provision net income $ 32,015 $ 33,607 $ 21,774 $ 34,160 $ 36,195 Impairment charges on assets held for sale and ROU asset — — 12,449 1,434 1,943 Adjusted pre-tax pre-provision net income $ 32,015 $ 33,607 $ 34,223 $ 35,594 $ 38,138 Tax Equivalent Net Interest Income Net interest income $ 61,627 $ 58,736 $ 61,728 $ 59,845 $ 58,174 Add: Tax-equivalent adjustment 237 236 256 264 269 Net interest income, fully taxable equivalent $ 61,864 $ 58,972 $ 61,984 $ 60,109 $ 58,443 Total revenues: Net interest income $ 61,627 $ 58,736 $ 61,728 $ 59,845 $ 58,174 Add: Non-interest income 14,161 19,426 19,014 18,495 21,002 Total revenues $ 75,788 $ 78,162 $ 80,742 $ 78,340 $ 79,176 Non-GAAP Reconciliation (continued)

Non-GAAP Reconciliation (continued) As of or For the Three Months Ended (dollars in thousands) June 30, 2022 March 31, 2022 December 31, 2021 September 30, 2021 June 30, 2021 Tangible common stockholders' equity: Total stockholders' equity $ 765,161 $ 788,671 $ 836,382 $ 824,418 $ 817,073 Less: Preferred stock — — 10,438 10,438 10,438 Less: Goodwill and other intangibles 162,094 163,962 165,558 167,296 169,034 Tangible common stockholders' equity $ 603,067 $ 624,709 $ 660,386 $ 646,684 $ 637,601 Tangible assets: Total assets $ 7,131,717 $ 6,834,636 $ 6,696,172 $ 6,704,451 $ 6,540,602 Less: Goodwill and other intangibles 162,094 163,962 165,558 167,296 169,034 Tangible assets $ 6,969,623 $ 6,670,674 $ 6,530,614 $ 6,537,155 $ 6,371,568 Average tangible common stockholders' equity: Average total stockholders' equity $ 780,652 $ 832,161 $ 838,975 $ 823,754 $ 810,490 Less: Average preferred stock — 9,974 10,438 10,438 10,438 Less: Average goodwill and other intangibles 163,068 164,837 166,396 168,140 169,906 Average tangible common stockholders' equity $ 617,584 $ 657,350 $ 662,141 $ 645,176 $ 630,146 Average tangible assets: Average total assets $ 6,975,725 $ 6,705,986 $ 6,699,069 $ 6,560,868 $ 6,720,492 Less: Average goodwill and other intangibles 163,068 164,837 166,396 168,140 169,906 Average tangible assets $ 6,812,657 $ 6,541,149 $ 6,532,673 $ 6,392,728 $ 6,550,586 Tangible net income available to common stockholders: Net income available to common stockholders $ 20,283 $ 22,115 $ 16,993 $ 25,110 $ 28,297 Add: After-tax intangible asset amortization 1,361 1,163 1,266 1,265 1,344 Tangible net income available to common stockholders $ 21,644 $ 23,278 $ 18,259 $ 26,375 $ 29,641 Adjusted tangible net income available to common stockholders: Tangible net income available to common stockholders $ 21,644 $ 23,278 $ 18,259 $ 26,375 $ 29,641 Impairment charges on assets held for sale and ROU asset — — 12,449 1,434 1,943 Tax benefit on significant items — — (3,377) (390) (530) Adjusted tangible net income available to common stockholders $ 21,644 $ 23,278 $ 27,331 $ 27,419 $ 31,054

As of or For the Three Months Ended (dollars in thousands, except share and per share data, ratios annualized, where applicable) June 30, 2022 March 31, 2022 December 31, 2021 September 30, 2021 June 30, 2021 Pre-tax pre-provision return on average assets: Pre-tax pre-provision net income $ 32,015 $ 33,607 $ 21,774 $ 34,160 $ 36,195 Average total assets 6,975,725 6,705,986 6,699,069 6,560,868 6,720,492 Pre-tax pre-provision return on average assets 1.84% 2.03% 1.29% 2.07% 2.16% Adjusted pre-tax pre-provision return on average assets: Adjusted pre-tax pre-provision net income $ 32,015 $ 33,607 $ 34,223 $ 35,594 $ 38,138 Average total assets 6,975,725 6,705,986 6,699,069 6,560,868 6,720,492 Adjusted pre-tax pre-provision return on average assets 1.84% 2.03% 2.03% 2.15% 2.28% Net interest margin, fully taxable equivalent Net interest income, fully taxable equivalent $ 61,864 $ 58,972 $ 61,984 $ 60,109 $ 58,443 Total average interest-earning assets 6,574,814 6,253,889 6,189,762 6,076,065 6,231,616 Net interest margin, fully taxable equivalent 3.77% 3.82% 3.97% 3.92% 3.76% Non-interest income to total revenues: Non-interest income $ 14,161 $ 19,426 $ 19,014 $ 18,495 $ 21,002 Total revenues 75,788 78,162 80,742 78,340 79,176 Non-interest income to total revenues 18.69% 24.85% 23.55% 23.61% 26.53% Adjusted non-interest expense to average assets: Adjusted non-interest expense $ 43,773 $ 44,555 $ 46,519 $ 42,746 $ 41,038 Average total assets 6,975,725 6,705,986 6,699,069 6,560,868 6,720,492 Adjusted non-interest expense to average assets 2.52% 2.69% 2.76% 2.58% 2.45% Adjusted efficiency ratio: Adjusted non-interest expense excluding amortization of intangible assets $ 41,905 $ 42,959 $ 44,781 $ 41,008 $ 39,190 Total revenues 75,788 78,162 80,742 78,340 79,176 Adjusted efficiency ratio 55.29% 54.96% 55.46% 52.35% 49.50% Non-GAAP Reconciliation (continued)

Non-GAAP Reconciliation (continued) As of or For the Three Months Ended June 30, 2022 March 31, 2022 December 31, 2021 September 30, 2021 June 30, 2021 Adjusted return on average assets: Adjusted net income $ 20,283 $ 22,311 $ 26,261 $ 26,350 $ 29,905 Average total assets 6,975,725 6,705,986 6,699,069 6,560,868 6,720,492 Adjusted return on average assets 1.17% 1.35% 1.56% 1.59% 1.78% Adjusted return on average stockholders' equity: Adjusted net income $ 20,283 $ 22,311 $ 26,261 $ 26,350 $ 29,905 Average stockholders' equity 780,652 832,161 838,975 823,754 810,490 Adjusted return on average stockholders' equity 10.42% 10.87% 12.42% 12.69% 14.80% Tangible common equity to tangible assets: Tangible common equity $ 603,067 $ 624,709 $ 660,386 $ 646,684 $ 637,601 Tangible assets 6,969,623 6,670,674 6,530,614 6,537,155 6,371,568 Tangible common equity to tangible assets 8.65% 9.36% 10.11% 9.89% 10.01% Return on average tangible common stockholders' equity: Tangible net income available to common stockholders $ 21,644 $ 23,278 $ 18,259 $ 26,375 $ 29,641 Average tangible common stockholders' equity 617,584 657,350 662,141 645,176 630,146 Return on average tangible common stockholders' equity 14.06% 14.36% 10.94% 16.22% 18.87% Adjusted return on average tangible common stockholders' equity: Adjusted tangible net income available to common stockholders $ 21,644 $ 23,278 $ 27,331 $ 27,419 $ 31,054 Average tangible common stockholders' equity 617,584 657,350 662,141 645,176 630,146 Adjusted return on average tangible common stockholders' equity 14.06% 14.36% 16.38% 16.86% 19.77% Tangible book value per share: Tangible common equity $ 603,067 $ 624,709 $ 660,386 $ 646,684 $ 637,601 Common shares outstanding 37,669,102 37,811,582 37,713,903 37,690,087 38,094,972 Tangible book value per share $ 16.01 $ 16.52 $ 17.51 $ 17.16 $ 16.74

Exhibit 99.3

Byline Bancorp, Inc. Announces Chief Financial Officer Transition Plan

Chicago, IL, July 28, 2022 – Byline Bancorp, Inc. (“Byline” or the “Company”) (NYSE: BY), the parent company of Byline Bank (“Byline Bank”), announced today that Thomas J. Bell, III, currently Senior Vice President, Treasurer, and a member of Byline’s executive leadership team, will succeed Lindsay Corby as Chief Financial Officer, effective August 15, 2022. Ms. Corby, an executive officer of Byline and Byline Bank since its recapitalization in 2013, is leaving the company to pursue an opportunity at a financial services company outside of the banking industry. She will continue with the Company to support the transition of her duties until her departure in early September.

Roberto Herencia, Executive Chairman and Chief Executive Officer of Byline Bancorp, Inc., stated, “Tom has been with Byline since its recapitalization in 2013 and is an integral part of the Byline growth story. His experience working with the Byline leadership team in roles of increasing responsibility makes him a perfect fit to assume the role of Chief Financial Officer and Treasurer as we continue to implement our growth strategy. During Tom’s nine years at Byline, he has been a key contributor as Corporate Treasurer, leading the Bank’s asset-liability management and strategy and playing a key role in capital management, including our IPO.”

“In addition, Sherylle has been a valuable and dedicated member of the finance team, and her knowledge, experience and leadership skills make her an excellent choice for the position of Chief Accounting Officer,” added Herencia.

“It has been an absolute privilege for all of us at Byline to work with Lindsay for the past nine years and we wish her all the best as she transitions to her new opportunity. Her hard work, leadership, deep experience and commitment to excellence have been instrumental in the execution of our strategy and transformation of the company from a privately held bank to the largest headquartered publicly traded community bank in Chicago,” said Alberto J. Paracchini, President of Byline Bancorp, Inc.

”Byline seeks excellence in everything we do as we strive to have a meaningful impact on our clients, communities, and each other. The appointments and promotions of both Tom to CFO and Sherylle to CAO, exemplify the strength of our deep bench of talent and succession plan,” added Herencia and Paracchini.

About Thomas J. Bell III

Mr. Bell, currently Senior Vice President, Treasurer of Byline, a position he has held since August 2013, has over 30 years of experience in the banking industry. Prior to joining Byline, Mr. Bell served as Senior Vice President, Treasurer and Head of Planning of Anchor Bancorp from July 2010 to August 2013 where

he was responsible for treasury, finance and capital management. Prior to joining Anchor Bancorp, Mr. Bell was an Executive Vice President, Treasurer and Chief Investment Officer for Midwest Banc Holdings, Inc. from December 2008 to June 2010. Prior to that experience, Mr. Bell served as a Senior Vice President with ABN AMRO North America Inc., a Chicago-based holding company for the LaSalle Bank Corporation. Mr. Bell started his career with the Federal Reserve Bank of Chicago.

About Maria Sherylle A. Olano

Ms. Olano, currently Senior Vice President, Corporate Controller of Byline Bank since joining the Company in 2014, has over 20 years of banking and accounting experience at financial institutions, as well as eight years of public accounting experience focusing on financial statement audits of private and public companies at Crowe Horwath LLP. Prior to joining Byline, Ms. Olano served as the Controller at Urban Partnership Bank.

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 $7.1 billion in assets and operates more than 30 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.

###

Contacts:

Investors: Media:

Brooks Rennie Erin O’Neill

Investor Relations Director Marketing Director

Byline Bank Byline Bank

(312) 660-5805 (773) 475-2901

brennie@bylinebank.com eoneill@bylinebank.com