Byline Bancorp (BY) AGM 2024 summary

Opening remarks and agenda

• Meeting opened by Head of Investor Relations, with roles of secretary and Inspector of Election assigned.

• Executive Chairman and CEO welcomed attendees, introduced board members, and acknowledged the independent auditor's representatives.

Financial performance review

• 2023 net income reached $108 million, or $2.67 per diluted share, on revenue just under $387 million.

• Total assets grew to $8.9 billion, up 21% year-over-year, with loans and leases up 23% and deposits up 26%.

• Efficiency ratio improved by over 2 percentage points to 52.6%, and under 50% on an adjusted basis.

• Capital ratios increased: tangible common equity at 9%, CET1 at 10.35%, and total capital at 13.4%.

• Community support included $134 million in development loans, $99 million in investments, and 1,550 volunteer hours.

Board and executive committee updates

• Board members and executive team introduced, with appreciation for their guidance and leadership.

• Board credited for steering the organization through challenging market conditions and a pivotal year.