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Jun 30, 2020
Byline Bancorp Q2 2020 Earnings Report
Reported solid financial performance driven by Paycheck Protection Program participation and strong growth in loans and deposits.
Key Takeaways
Byline Bancorp reported a net income of $9.1 million, or $0.24 per diluted share, for the second quarter of 2020. The company actively participated in the Paycheck Protection Program, helping over 3,600 small businesses access approximately $627 million in funding, which drove strong growth in both loans and deposits during the quarter.
Net income of $9.1 million, or $0.24 per diluted share
Originated loans and leases increased $610.9 million, or 20.5%, from March 31, 2020
Originated $734.0 million in loans of which $626.8 million were under the Paycheck Protection Program (“PPP”)
Completed a public offering of $50.0 million aggregate principal amount of 6.00% fixed-to-floating rate subordinated notes due 2030