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Dec 31, 2020
Byline Bancorp Q4 2020 Earnings Report
Byline Bancorp reported strong Q4 2020 earnings driven by loan growth, deposit inflows and expense management.
Key Takeaways
Byline Bancorp reported a net income of $12.3 million, or $0.31 per diluted share, for the fourth quarter of 2020. The results reflect an improvement in business activity, loan and lease growth excluding PPP loans, strong inflows of commercial noninterest-bearing deposits, and higher net interest income.
Net income was $12.3 million, or $0.31 per diluted share.
Adjusted net income was $15.2 million, or $0.38 per adjusted diluted share, excluding impairment charges on assets held for sale.
Net interest margin was 3.77%.
Originated loans and leases increased $31.9 million, with total production of $230.5 million.
Forward Guidance
Byline Bancorp is well positioned to deliver another strong year in 2021, with a building loan pipeline, a more efficient retail branch network, and enhanced efficiencies to improve their ability to serve existing customers and attract new customers.
Positive Outlook
- Loan pipeline continues to build as the banking teams added over the past two years gain traction and overall loan demand improves.
- A more efficient and productive retail branch network following recent branch consolidations.
- Effectively manage expenses and realize more operating leverage as they continue to grow their balance sheet.
- Actions taken to enhance efficiencies combined with the investments made to improve ability to serve existing customers and attract new customers to Byline will continue to result in a higher level of earnings and profitability in the years to come.
- Well positioned to increase the amount of capital that we return to shareholders through our quarterly dividend, doubling to $0.06 per share, along with the resumption on our stock repurchase program as market conditions permit.
Challenges Ahead
- The COVID-19 pandemic is adversely affecting Byline, its employees, customers, counterparties and third-party service providers, and the ultimate extent of the impacts on our business, financial position, results of operations, liquidity, and prospects is uncertain.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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