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Sep 30, 2020
Byline Bancorp Q3 2020 Earnings Report
Reported solid performance driven by improved business activity, strong fee income and disciplined expense management
Key Takeaways
Byline Bancorp reported a net income of $13.1 million, or $0.34 per diluted share, for the third quarter of 2020. The results reflect solid performance in a challenging operating environment, driven by strong growth in pre-tax, pre-provision income due to improved business activity, strong fee income and disciplined expense management.
Net income of $13.1 million, or $0.34 per diluted share
Net interest margin of 3.60%, compared to 3.71% at June 30, 2020
Return on average assets of 0.81%
Efficiency ratio of 52.47%, lower by 123 basis points from the second quarter
Byline Bancorp
Byline Bancorp
Forward Guidance
The Company announced the additional consolidation of 11 branch locations in order to better align spending with current customer behaviors and continue investing in digital capabilities and franchise. Looking forward, their focus remains on supporting new and existing customers, executing their strategy and growing the value of their franchise.