Byline Bancorp, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Reports Net Charge Offs for the Fourth Quarter Ended December 31, 2017
January 25, 2018 at 05:00 pm EST
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Byline Bancorp, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the year, the company reported total interest and dividend income of $136,803,000 against $98,365,000 a year ago. Net interest income was $122,912,000 against $90,618,000 a year ago. Net interest income after provision for loan and lease losses was $110,259,000 against $80,266,000 a year ago. Income before provision for income taxes was $40,794,000 against $5,484,000 a year ago. Net income was $21,695,000 against $66,729,000 a year ago. Income available to common stockholders was $10,418,000 against $66,729,000 a year ago. Diluted earnings per share were $0.38 against $3.27 a year ago. Return on average stockholders' equity was 5.08% against 27.93% a year ago. Return on average assets was 0.66% against 2.42% a year ago. Adjusted net income was $25,501,000 against $7,776,000 a year ago. Adjusted net income was $25,501,000 or $0.52 per diluted share against $7,776,000 or $0.38 per diluted share a year ago.
For the quarter, the company reported total interest and dividend income of $35,956,000. Net interest income was $32,151,000. Net interest income after provision for loan and lease losses was $28,804,000. Income before provision for income taxes was $11,085,000. Net loss was $766,000. Loss attributable to common stockholders was $962,000. Diluted loss per share was $0.03. Negative return on average stockholders' equity was 0.66%. Negative return on average assets was 0.09%. Tangible book value per common share was $12.94 against $11.59 a year ago. Adjusted net income was $7,265,000 or $0.24 per diluted share.
Net charge-offs during the fourth quarter of 2017 were $2.6 million, or 0.46% of average loans and leases, on an annualized basis, an increase of $732,000 compared to $1.9 million, or 0.34%, during the third quarter of 2017.
Byline Bancorp, Inc. is a bank holding company. The Company conducts all its business activities through its subsidiary, Byline Bank, a full-service commercial bank, and Byline Bankâs subsidiaries. It offers a range of banking products and services to small and medium-sized businesses, commercial real estate and financial sponsors and to consumers who generally live or work near its branches. It also offers online account opening to consumer and business customers through its Website and provides trust and wealth management services to its customers. In addition to its traditional commercial banking business, it provides small ticket equipment leasing solutions through Byline Financial Group, a wholly owned subsidiary of Byline Bank. It offers a range of commercial loan, deposit and treasury management products. Its primary commercial lending groups include commercial and industrial, commercial real estate, sponsor finance, commercial deposits and treasury management and others.
Byline Bancorp, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Reports Net Charge Offs for the Fourth Quarter Ended December 31, 2017