Byline Bancorp (BY) Q2 2025 earnings summary

Executive summary

• Net income for Q2 2025 was $30.1M ($0.66 per diluted share), with adjusted net income of $33.8M ($0.75 per share), reflecting merger and offering-related adjustments.

• Completed and integrated the First Security Bancorp acquisition, adding $280M in deposits and $153M in loans, strengthening the loan and deposit base.

• Total assets reached $9.7B, with strong growth in loans and deposits, and continued share repurchases.

• Tangible book value per share rose to $21.56, up 3.1% sequentially and 14.4% year-over-year.

• Recognized with multiple workplace awards, reflecting high employee engagement and strong company culture.

Financial highlights

• Net interest income rose to $96.0M, up 8.8% sequentially and 10.9% year-over-year; net interest margin expanded to 4.18%.

• Total revenue was $110.5M, up $7.4M sequentially and 11% year-over-year, driven by loan and lease growth.

• Non-interest income was $14.5M, down 2.6% sequentially, mainly due to lower loan servicing asset revaluation.

• Adjusted efficiency ratio improved to 48.20%; cost-to-asset ratio improved to 2.28%.

• Non-interest expense increased to $59.6M, reflecting acquisition and offering costs.

Outlook and guidance

• Loan growth expected at the upper end of mid-single-digit range for the year.

• Net interest income projected between $95M and $97M for Q3, assuming no Fed rate changes.

• Non-interest expense guidance for Q3 is $56M–$58M, reflecting seasonal marketing spend.

• Gain on sale guidance remains at $5M per quarter.

• Management expressed confidence in continued momentum and strong market positioning for the second half of 2025.