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Mar 31, 2021
Byline Bancorp Q1 2021 Earnings Report
Byline Bancorp reported a strong first quarter performance driven by solid loan and lease production, deposit gathering, reduced deposit costs, improved asset quality, and increased efficiencies.
Key Takeaways
Byline Bancorp, Inc. reported a net income of $21.8 million, or $0.56 per diluted share, for the first quarter of 2021. The company saw improvements in loan and lease production, deposit gathering, asset quality, and efficiency.
Net income was $21.8 million, or $0.56 per diluted share.
Net interest margin was 3.77%.
Originated loans and leases increased by $181.0 million, with total production of $411.8 million.
Non-interest bearing deposits were 40.1% of total deposits.
Forward Guidance
Management expects higher loan demand and a growing loan pipeline due to increasing confidence in the strength of the economic recovery. The company believes it is well positioned to support a higher level of loan growth, which should lead to further increases in profitability with a favorable shift in the mix of earning assets.
Positive Outlook
- Higher loan demand expected due to increasing confidence in the economic recovery.
- Strong liquidity and capital positions the company well for loan growth.
- Anticipated increases in profitability with a favorable shift in the mix of earning assets.
- Strategic branch consolidation efforts during the fourth quarter of 2020.
- Lower lease obligation expense.
Challenges Ahead
- Lower volume of loans sold.
- Decreased volume of sales of securities available-for-sale.
- Increased loan-related and other legal fees.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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