8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): January 26, 2023

BYLINE BANCORP, INC.

(Exact Name of Registrant as Specified in Its Charter)

Delaware

(State or Other Jurisdiction

of Incorporation)

001-38139	36-3012593
(Commission<br><br>File Number)	(I.R.S. Employer<br><br>Identification No.)
180 North LaSalle Street, Suite 300
Chicago, Illinois	60601
(Address of Principal Executive Offices)	(Zip Code)

(773) 244-7000

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
---	---
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock	BY	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02.	Results of Operations and Financial Condition.

On January 26, 2023, Byline Bancorp, Inc., (“Byline" or the "Company”) issued a press release announcing its financial results for the fourth quarter ended December 31, 2022. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference.

On January 26, 2023, the Company made available on its website a slide presentation regarding the Company’s fourth quarter 2022 financial results, which will be used as part of a publicly accessible conference call on January 27, 2023. A copy of the slide presentation is attached as Exhibit 99.2 and is incorporated herein by reference.

The information included in Item 2.02 this Current Report on Form 8-K (including the information in the attached exhibits 99.1 and 99.2) is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in any such filing.

Item 9.01.	Financial Statements and Exhibits.

(d) Exhibits.

Exhibit<br><br>No.	Description
99.1		Fourth Quarter 2022 financial results press release, dated January 26, 2023
99.2		Slide Presentation regarding fourth quarter 2022 financial results
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of the U.S. federal securities laws. Forward-looking statements include, without limitation, statements concerning plans, estimates, calculations, forecasts and projections with respect to the anticipated future performance of the Company. These statements are often, but not always, made through the use of words or phrases such as ‘‘may’’, ‘‘might’’, ‘‘should’’, ‘‘could’’, ‘‘predict’’, ‘‘potential’’, ‘‘believe’’, ‘‘expect’’, ‘‘continue’’, ‘‘will’’, ‘‘anticipate’’, ‘‘seek’’, ‘‘estimate’’, ‘‘intend’’, ‘‘plan’’, ‘‘projection’’, ‘‘would’’, ‘‘annualized’’, “target” and ‘‘outlook’’, or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. Forward-looking statements involve estimates and known and unknown risks, and reflect various assumptions and involve elements of subjective judgement and analysis, which may or may not prove to be correct, and which are subject to uncertainties and contingencies outside the control of Byline and its respective affiliates, directors, employees and other representatives, which could cause actual results to differ materially from those presented in this communication.

No representations, warranties or guarantees are or will be made by Byline as to the reliability, accuracy or completeness of any forward-looking statements contained in this communication or that such forward-looking statements are or will remain based on reasonable assumptions. You should not place undue reliance on any forward-looking statements contained in this communication.

Certain risks and important factors that could affect Byline’s future results are identified in our Annual Report on Form 10-K and other reports we file with the Securities and Exchange Commission, including among other things under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2021. Any forward-looking statement speaks only as of the date on which it is made, and Byline undertakes no obligation to update any forward-looking statement, whether to reflect events or circumstances after the date on which the statement is made, to reflect new information or the occurrence of unanticipated events, or otherwise unless required under the federal securities laws.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	BYLINE BANCORP, INC.
Date: January 26, 2023	By:	/s/ Roberto R. Herencia
	Name:	Roberto R. Herencia
	Title:	Executive Chairman and Chief Executive Officer

EX-99.1

Exhibit 99.1

Byline Bancorp, Inc. Reports Fourth Quarter and Full Year 2022 Financial Results

Select Fourth Quarter 2022 Financial Highlights

• Net income of $24.4 million, or $0.65 per diluted share

• Net interest margin of 4.39%; up 36 bps from the previous quarter

• Pre-tax pre-provision return on average assets of 2.05%

• Return on average assets of 1.33%; Return on tangible common equity of 17.21%1

• Efficiency ratio of 55.53%

• Total loans and leases increased $160.0 million

• Total deposits increased $82.7 million to $5.7 billion

• Common Equity Tier 1 to risk weighted assets of 10.20%

Select Full Year 2022 Financial Highlights

• Net income of $88.0 million, or $2.34 per diluted share

• Pre-tax pre-provision return on average assets of 1.97%

• Return on average assets 1.25%; Return on tangible common equity 15.15%1

• Efficiency ratio of 54.99%

• Adopted ASU 2016-13 Financial Instruments - Credit Losses (Topic 326) as of January 1, 20222

Chicago, IL, January 26, 2023 – Byline Bancorp, Inc. ("Byline", the “Company”, "we", "our", or "us") (NYSE: BY), the parent company of Byline Bank (the “Bank”), today reported net income of $24.4 million, or $0.65 per diluted share, for the fourth quarter of 2022 compared with net income of $20.4 million, or $0.55 per diluted share, for the third quarter of 2022, and net income of $17.2 million, or $0.45 per diluted share, for the fourth quarter 2021.

Roberto R. Herencia, Executive Chairman and Chief Executive Officer of Byline Bancorp, Inc., commented, “Byline executed its strategy well throughout the year and our focus on customers allowed us to experience solid loan and deposit growth despite a slowing economic environment. We remain committed to executing our strategy of disciplined organic growth in loans and deposits in order to drive higher profitability. We believe our pending acquisition of Inland Bancorp, Inc. will further enhance our position into other attractive Chicago metropolitan markets, provide an important source of stable, low-cost deposits, and further enhance the value of the Byline franchise. I want to thank the Byline employees, who enabled our strong performance for their dedication and hard work.”

Alberto J. Paracchini, President of Byline Bancorp, Inc. added, “We reported strong results in the fourth quarter and ended 2022 on a good note as we delivered positive operating leverage as a result of increased revenues of 4% while continuing to invest in our businesses. Our results were driven by growth in net interest income supported by loan and deposit growth and the benefit of rising interest rates. Our business units performed well during the quarter, and we have good momentum in our areas of strategic focus. As we enter 2023, we remain committed to delivering on our purpose to support new and existing customers, executing our strategy, and growing the value of our franchise.”

(1) Represents non-GAAP financial measures. See “Reconciliation of non-GAAP Financial Measures” for a reconciliation of our non-GAAP measures to the most directly comparable GAAP financial measure.

(2) The previously reported 2022 quarterly financial statements have been recast to reflect the adoption of CECL.

Byline Bancorp, Inc.

Page 2 of 19

Company Adopts ASU 2016-13 Financial Instruments - Credit Losses (Topic 326)

In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-13 Financial Instruments - Credit Losses (Topic 326) on the recognition of credit losses, otherwise known as the current expected credit loss standard, or "CECL", which replaces the incurred loss impairment methodology with a methodology that reflects current expected credit losses. As an emerging growth company, we elected to delay the adoption of the standard in accordance with ASU No. 2019-10, Effective Dates, which delayed the effective date of the ASU for entities not classified as Public Business Entities. The Company’s EGC status expired during 2022, requiring CECL adoption be reflected in our December 31, 2022 financial statements and Form 10-K.

The Company adopted CECL on December 31, 2022, and has applied it retroactively to the period beginning January 1, 2022 using the modified retrospective method of accounting. Adoption of CECL includes both a $10.1 million retroactive equity adjustment to January 1, 2022 (Day 1) and a $1.7 million fourth quarter adjustment to earnings (net of tax) to account for the difference in provision for credit losses between CECL and the incurred loss methodology for the first three quarters of 2022. Results for reporting periods beginning after September 30, 2022 are presented under the new standard, while prior quarters previously reported are "Recast" as if the new standard had been applied since January 1, 2022. Refer to Appendix A for recast prior quarter financial information as a result of the adoption of the new standard. Ongoing impacts of the CECL methodology will be dependent upon changes in economic conditions and forecasts, originated and acquired loan portfolio composition, credit performance trends, portfolio duration, and other factors.

Board Declares Cash Dividend of $0.09 per Share

On January 24, 2023, the Company's Board of Directors declared a cash dividend of $0.09 per share, payable on February 21, 2023, to stockholders of record of the Company's common stock as of February 7, 2023.

Board Authorizes New Stock Repurchase Program

On December 7, 2022, the Company's Board of Directors approved a new stock repurchase program that authorizes the Company to purchase up to 1.25 million shares of the Company's outstanding common stock. The new program is effective January 1, 2023 until December 31, 2023. Under the previous stock repurchase program that expired on December 31, 2022, Byline repurchased 2,139,262 shares of the 2.5 million total shares authorized for repurchase, including 689,068 shares during 2022. The Company did not repurchase any shares during the fourth quarter of 2022.

Byline Bancorp, Inc.

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STATEMENTS OF OPERATIONS

Net Interest Income

The following table presents the average interest-earning assets and average interest-bearing liabilities for the periods indicated. Net interest income and margin are adjusted to reflect tax-exempt interest income on a tax-equivalent basis using tax rates effective as of the end of the period:

	For the Three Months Ended
									Recast
	December 31, 2022								September 30, 2022								December 31, 2021
(dollars in thousands)	Average<br>Balance(5)			Interest<br>Inc / Exp		Avg.<br>Yield /<br>Rate			Average<br>Balance(5)			Interest<br>Inc / Exp		Avg.<br>Yield /<br>Rate			Average<br>Balance(5)			Interest<br>Inc / Exp		Avg.<br>Yield /<br>Rate
ASSETS
Cash and cash equivalents	$	89,368		$	234		1.04	%	$	77,522		$	210		1.08	%	$	106,170		$	42		0.16	%
Loans and leases(1)		5,389,210			85,720		6.31	%		5,217,779		$	72,634		5.52	%		4,610,608			58,570		5.04	%
Taxable securities		1,288,750			7,043		2.17	%		1,306,024		$	5,963		1.81	%		1,288,969			5,111		1.57	%
Tax-exempt securities(2)		155,562			1,021		2.60	%		162,591		$	1,083		2.64	%		184,015			1,217		2.62	%
Total interest-earning assets	$	6,922,890		$	94,018		5.39	%	$	6,763,916		$	79,890		4.69	%	$	6,189,762		$	64,940		4.16	%
Allowance for credit losses - <br>  loans and leases		(81,815	)							(74,383	)							(59,144	)
All other assets		424,978								447,939								568,451
TOTAL ASSETS	$	7,266,053							$	7,137,472							$	6,699,069
LIABILITIES AND STOCKHOLDERS’<br>   EQUITY
Deposits
Interest checking	$	596,627		$	1,902		1.27	%	$	583,777		$	1,077		0.73	%	$	659,841		$	236		0.14	%
Money market accounts		1,472,050			5,458		1.47	%		1,391,923			3,358		0.96	%		1,089,398			345		0.13	%
Savings		647,536			243		0.15	%		673,966			247		0.15	%		633,469			75		0.05	%
Time deposits		788,856			3,007		1.51	%		687,124			1,289		0.74	%		688,154			381		0.22	%
Total interest-bearing <br>  deposits		3,505,069			10,610		1.20	%		3,336,790			5,971		0.71	%		3,070,862			1,037		0.13	%
Other borrowings		514,517			4,598		3.55	%		607,471			3,232		2.11	%		385,787			330		0.34	%
Subordinated notes and <br>  debentures		110,947			1,992		7.12	%		110,799			1,825		6.54	%		110,341			1,589		5.71	%
Total borrowings		625,464			6,590		4.18	%		718,270			5,057		2.79	%		496,128			1,919		1.53	%
Total interest-bearing liabilities	$	4,130,533		$	17,200		1.65	%	$	4,055,060		$	11,028		1.08	%	$	3,566,990		$	2,956		0.33	%
Non-interest-bearing <br>  demand deposits		2,235,464								2,198,095								2,222,583
Other liabilities		151,764								118,496								70,521
Total stockholders’ equity		748,292								765,821								838,975
TOTAL LIABILITIES AND<br>   STOCKHOLDERS’ EQUITY	$	7,266,053							$	7,137,472							$	6,699,069
Net interest spread(3)							3.74	%							3.61	%							3.83	%
Net interest income, fully <br>  taxable equivalent				$	76,818							$	68,862							$	61,984
Net interest margin, fully <br>  taxable equivalent(2)(4)							4.40	%							4.04	%							3.97	%
Less: Tax-equivalent adjustment					214		0.01	%					227		0.01	%					256		0.01	%
Net interest income				$	76,604							$	68,635							$	61,728
Net interest margin(4)							4.39	%							4.03	%							3.96	%
Net loan accretion impact <br>  on margin				$	369		0.02	%				$	1,371		0.08	%				$	1,450		0.09	%

(1) Loan and lease balances are net of deferred origination fees and costs and initial indirect costs. Non-accrual loans and leases are included in total loan and lease balances.

(2) Interest income and rates include the effects of a tax equivalent adjustment to adjust tax exempt investment income on tax exempt investment securities to a fully taxable basis, assuming a federal income tax rate of 21%.

(3) Represents the average rate earned on interest-earning assets minus the average rate paid on interest-bearing liabilities.

(4) Represents net interest income (annualized) divided by total average earning assets.

(5) Average balances are average daily balances.

Byline Bancorp, Inc.

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The following table presents net interest income for the periods indicated:

							December 31, 2022
	Three Months Ended						Change from
			Recast
	December 31,		September 30,		December 31,		September 30,			December 31,
(dollars in thousands)	2022		2022		2021		2022			2021
INTEREST AND DIVIDEND INCOME
Interest and fees on loans and leases	$	85,720	$	72,635	$	58,570		18.0	%		46.4	%
Interest on securities		6,569		6,402		5,619		2.6	%		16.9	%
Other interest and dividend income		1,515		626		495		141.9	%		206.3	%
Total interest and dividend income		93,804		79,663		64,684		17.7	%		45.0	%
INTEREST EXPENSE
Deposits		10,610		5,971		1,037		77.7	%		922.7	%
Other borrowings		4,598		3,232		330		42.2	%		1296.1	%
Subordinated notes and debentures		1,992		1,825		1,589		9.1	%		25.4	%
Total interest expense		17,200		11,028		2,956		56.0	%		481.9	%
Net interest income	$	76,604	$	68,635	$	61,728		11.6	%		24.1	%

Net interest income for the fourth quarter of 2022 was $76.6 million, an increase of $8.0 million, or 11.6%, from the third quarter of 2022, driven mainly by the rising interest rate environment.

The increase in net interest income was primarily due to:

• An increase of $13.1 million in interest income and fees on loans and leases due to higher yields and growth in the originated loan and lease portfolio.

Partially offset by:

• An increase of $4.6 million in deposit interest expense mainly due to higher rates paid on deposits; and

• An increase of $1.4 million in interest expense on other borrowings due to increases in rates paid on FHLB advances.

Tax-equivalent net interest margin for the fourth quarter of 2022 was 4.40%, an increase of 36 basis points compared to the third quarter of 2022. Total net accretion income on acquired loans contributed two basis points to the net interest margin for the fourth quarter of 2022 compared to eight basis points for the third quarter of 2022, an increase of six basis points.

The average cost of total deposits was 0.73% for the fourth quarter of 2022, an increase of 30 basis points compared to the third quarter of 2022. Average non-interest-bearing demand deposits were 38.9% of average total deposits for the fourth quarter of 2022 compared to 39.7% during the third quarter of 2022.

Provision for Credit Losses

The provision for credit losses was $5.8 million for the fourth quarter of 2022, a decrease of $1.4 million compared to $7.2 million for the third quarter of 2022. Provision for credit losses is comprised of provision for loan and lease losses of $5.4 million and provision for unfunded commitments of $426,000. The decrease in provision during the fourth quarter of 2022 was primarily driven by changes to expected losses in the conventional loan portfolio.

Byline Bancorp, Inc.

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Non-interest Income

The following table presents the components of non-interest income for the periods indicated:

										December 31, 2022
	Three Months Ended									Change from
				Recast
	December 31,			September 30,			December 31,			September 30,			December 31,
(dollars in thousands)	2022			2022			2021			2022			2021
NON-INTEREST INCOME
Fees and service charges on deposits	$	2,081		$	2,128		$	1,955			(2.2	)%		6.4	%
Loan servicing revenue		3,293			3,422			3,392			(3.8	)%		(2.9	)%
Loan servicing asset revaluation		(3,534	)		(2,342	)		(2,510	)		50.8	%		40.8	%
ATM and interchange fees		1,250			1,007			1,219			24.1	%		2.5	%
Net realized gains (losses) on securities available-for-sale		—			(2	)		(21	)	NM			NM
Change in fair value of equity securities, net		710			(581	)		(98	)	NM			NM
Net gains on sales of loans		5,509			5,580			12,924			(1.3	)%		(57.4	)%
Wealth management and trust income		864			995			764			(13.3	)%		13.1	%
Other non-interest income		1,282			1,836			1,389			(30.1	)%		(7.6	)%
Total non-interest income	$	11,455		$	12,043		$	19,014			(4.9	)%		(39.8	)%

Non-interest income for the fourth quarter of 2022 was $11.5 million, a decrease of $588,000 or 4.9%, compared to $12.0 million for the third quarter of 2022.

The decrease in total non-interest income was primarily due to:

• An increase of $1.2 million in the downward valuation adjustment to the loan servicing asset, due to unfavorable fair value adjustments due to changes in the discount rates.

Partially offset by:

• An increase of $1.3 million in the change in fair value of equity securities, due to changes in the market value of securities.

During the fourth quarter of 2022, we sold $86.0 million of U.S. government guaranteed loans compared to $75.4 million during the third quarter of 2022.

Non-interest Expense

The following table presents the components of non-interest expense for the periods indicated:

							December 31, 2022
	Three Months Ended						Change from
			Recast
	December 31,		September 30,		December 31,		September 30,			December 31,
(dollars in thousands)	2022		2022		2021		2022			2021
NON-INTEREST EXPENSE
Salaries and employee benefits	$	31,808	$	29,587	$	28,850		7.5	%		10.3	%
Occupancy and equipment expense, net		3,532		3,919		4,995		(9.9	)%		(29.3	)%
Impairment charge on assets held for sale		372		—		8,351	NM			NM
Loan and lease related expenses		1,126		530		2,328		111.9	%		(51.7	)%
Legal, audit and other professional fees		3,204		2,733		2,376		17.3	%		34.9	%
Data processing		3,406		3,370		3,070		1.1	%		11.0	%
Net loss recognized on other real estate <br>   owned and other related expenses		221		275		26		(19.8	)%	NM
Other intangible assets amortization expense		1,596		1,611		1,738		(0.9	)%		(8.1	)%
Other non-interest expense		5,235		4,016		7,356		30.3	%		(28.9	)%
Total non-interest expense	$	50,500	$	46,041	$	59,090		9.7	%		(14.4	)%

Non-interest expense for the fourth quarter of 2022 was $50.5 million, an increase of $4.5 million, or 9.7%, from $46.0 million for the third quarter of 2022.

Byline Bancorp, Inc.

Page 6 of 19

The increase in total non-interest expense was primarily due to:

• An increase of $2.2 million in salaries and employee benefits mainly is due to increased incentive compensation and lower loan deferral costs due to lower originations during the quarter; and

• An increase of $1.2 million in other non-interest expense, which includes an increase in net losses of $480,000 in leasehold improvements, and increases in general expenses; and

• An increase of $596,000 in loan and lease related expenses mainly due to higher expenses associated with government guaranteed loans; and

• An increase of $471,000 in legal, audit and other professional fees primarily related to acquisition activities.

Partially offset by:

• A decrease of $387,000 in occupancy and equipment expense, net, mainly due to lower real estate tax expenses.

Our efficiency ratio was 55.53% for the fourth quarter of 2022 compared to 55.07% for the third quarter of 2022.

INCOME TAXES

We recorded income tax expense of $7.4 million during the fourth quarter of 2022, compared to $7.0 million during the third quarter of 2022. The effective tax rate was 23.2% and 25.6% for the fourth quarter of 2022 and third quarter of 2022, respectively. The decrease in the effective tax rate is primarily due to a decrease in the state income tax rate.

STATEMENTS OF FINANCIAL CONDITION

Total assets were $7.4 billion at December 31, 2022, an increase of $95.7 million compared to $7.3 billion at September 30, 2022.

The current quarter increase was primarily due to:

• An increase in net loans and leases of $143.9 million primarily due to growth in the loan and lease portfolio.

Partially offset by:

• A decrease in securities available-for-sale of $7.2 million primarily due to changes in market conditions.

Byline Bancorp, Inc.

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The following table shows our allocation of the originated, acquired impaired, and acquired non-impaired loans and leases at the dates indicated:

							Recast
	December 31, 2022						September 30, 2022						December 31, 2021
(dollars in thousands)	Amount			% of Total			Amount			% of Total			Amount			% of Total
Originated loans and leases
Commercial real estate	$	1,712,152			31.6	%	$	1,659,218			31.5	%	$	1,379,000			30.4	%
Residential real estate		426,226			7.9	%		409,926			7.8	%		379,796			8.4	%
Construction, land development, and<br>   other land		438,617			8.1	%		456,276			8.6	%		323,886			7.1	%
Commercial and industrial		2,029,855			37.5	%		1,938,714			36.8	%		1,534,745			33.8	%
Paycheck Protection Program		761			0.0	%		1,522			0.0	%		123,712			2.7	%
Installment and other		1,410			0.0	%		999			0.0	%		940			0.0	%
Leasing financing receivables		521,689			9.6	%		492,744			9.3	%		352,247			7.8	%
Total originated loans and leases	$	5,130,710			94.7	%	$	4,959,399			94.0	%	$	4,094,326			90.2	%
Acquired impaired loans
Commercial real estate	$	45,143			0.8	%	$	49,649			0.9	%	$	72,160			1.6	%
Residential real estate		32,228			0.6	%		35,309			0.7	%		49,401			1.1	%
Construction, land development, and<br>   other land		372			0.0	%		1,131			0.0	%		1,312			0.0	%
Commercial and industrial		2,192			0.0	%		2,345			0.1	%		4,014			0.1	%
Installment and other		140			0.0	%		149			0.0	%		164			0.0	%
Total acquired impaired loans	$	80,075			1.4	%	$	88,583			1.7	%	$	127,051			2.8	%
Acquired non-impaired loans and leases
Commercial real estate	$	152,193			2.8	%	$	159,928			3.0	%	$	214,588			4.7	%
Residential real estate		31,508			0.6	%		36,480			0.7	%		51,317			1.1	%
Construction, land development, and<br>   other land		—			0.0	%		187			0.0	%		201			0.1	%
Commercial and industrial		24,266			0.5	%		27,249			0.5	%		43,202			1.0	%
Installment and other		209			0.0	%		216			0.0	%		264			0.0	%
Leasing financing receivables		2,297			0.0	%		3,084			0.1	%		6,179			0.1	%
Total acquired non-impaired loans<br>   and leases	$	210,473			3.9	%	$	227,144			4.3	%	$	315,751			7.0	%
Total loans and leases	$	5,421,258			100.0	%	$	5,275,126			100.0	%	$	4,537,128			100.0	%
Allowance for credit losses - loans and leases		(81,924	)					(79,704	)					(55,012	)
Total loans and leases, net of allowance for<br>   credit losses - loans and leases	$	5,339,334					$	5,195,422					$	4,482,116

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ASSET QUALITY

Non-Performing Assets

The following table sets forth the amounts of non-performing loans and leases (excluding acquired impaired), other real estate owned, and accruing troubled debt restructured loans at the dates indicated:

										December 31, 2022
				Recast						Change from
(dollars in thousands)	December 31, <br>2022			September 30, <br>2022			December 31, <br>2021			September 30, <br>2022			December 31, <br>2021
Non-performing assets:
Non-accrual loans and leases	$	36,027		$	41,942		$	23,130			(14.1	)%		55.8	%
Past due loans and leases 90 days or more<br>   and still accruing interest		—			—			—		—%			—%
Total non-performing loans and leases	$	36,027		$	41,942		$	23,130			(14.1	)%		55.8	%
Other real estate owned		4,717			4,402			2,112			7.2	%		123.3	%
Total non-performing assets	$	40,744		$	46,344		$	25,242			(12.1	)%		61.4	%
Accruing troubled debt restructured loans (1)	$	719		$	1,113		$	1,927			(35.4	)%		(62.7	)%
Total non-performing loans and leases as a<br>   percentage of total loans and leases		0.66	%		0.80	%		0.51	%
Total non-performing assets as a percentage<br>   of total assets		0.55	%		0.64	%		0.38	%
Allowance for credit losses - loans and lease <br>   as a percentage of non-performing<br>   loans and leases		227.40	%		190.03	%		237.84	%
Non-performing assets guaranteed by <br>   U.S. government:
Non-accrual loans guaranteed	$	2,225		$	1,676		$	3,270			32.8	%		(32.0	)%
Past due loans 90 days or more and still<br>   accruing interest guaranteed		—			—			—		—%			—%
Total non-performing loans guaranteed	$	2,225		$	1,676		$	3,270			32.8	%		(32.0	)%
Accruing troubled debt restructured loans<br>   guaranteed (1)	$	—		$	—		$	—		—%			—%
Total non-performing loans and leases <br>   not guaranteed as a percentage of total <br>   loans and leases		0.62	%		0.76	%		0.44	%
Total non-performing assets not guaranteed<br>   as a percentage of total assets		0.52	%		0.61	%		0.33	%

(1) Accruing troubled debt restructured loans are not included in total non-performing loans and leases or in non-performing assets.

Variances in non-performing assets were:

• Non-performing loans and leases were $36.0 million at December 31, 2022, a decrease of $5.9 million from $41.9 million at September 30, 2022, primarily due to charge-offs of loans previously reserved for.

• Other real estate owned was $4.7 million at December 31, 2022, an increase of $315,000 from $4.4 million at September 30, 2022, primarily due to the transfer of one property.

Allowance for Credit Losses ("ACL") - Loans and Leases

The following table presents the balance and activity within the allowance for credit losses - loans and leases for the periods indicated:

	Three Months Ended
				Recast
	December 31,			September 30,			December 31,
(dollars in thousands)	2022			2022			2021
ACL - loans and leases, beginning of period	$	79,704		$	74,048		$	60,598
Provision/(recapture) for credit losses - loans and leases		5,399			7,447			(1,415	)
Net charge-offs		(3,179	)		(1,791	)		(4,171	)
ACL - loans and leases, end of period	$	81,924		$	79,704		$	55,012
Net charge-offs to average total loans<br>   and leases held for investment, <br>   net before ACL		0.23	%		0.14	%		0.36	%
Provision/(recapture) for credit losses <br>   to net charge-offs during the period		1.70	x		4.16	x	(0.34)x

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Net charge-offs of loans and leases during the fourth quarter of 2022 were $3.2 million, or 0.23% of average loans and leases, on an annualized basis, an increase of $1.4 million compared to $1.8 million, or 0.14% of average loans and leases, during the third quarter of 2022, and a decrease of $1.1 million from $4.3 million or 0.36% of average loans and leases from the comparable period a year ago.

Net charge-offs for the fourth quarter of 2022 included $1.3 million in the unguaranteed portion of U.S. government guaranteed loans, while net charge-offs for the third quarter of 2022 and fourth quarter of 2021 included $1.9 million and $1.5 million, respectively, in the unguaranteed portion of U.S. government guaranteed loans.

Deposits and Other Liabilities

The following table presents the composition of deposits at the dates indicated:

						December 31, 2022
						Change from
(dollars in thousands)		September 30, 2022		December 31, 2021		September 30, 2022			December 31, 2021
Non-interest-bearing demand deposits	2,138,645	$	2,142,183	$	2,158,420		(0.2	)%		(0.9	)%
Interest-bearing checking accounts	592,098		616,139		572,426		(3.9	)%		3.4	%
Money market demand accounts	1,415,653		1,485,815		1,106,272		(4.7	)%		28.0	%
Other savings	625,798		669,734		638,218		(6.6	)%		(1.9	)%
Time deposits (below 250,000)	762,250		586,198		532,589		30.0	%		43.1	%
Time deposits (250,000 and above)	160,677		112,387		147,122		43.0	%		9.2	%
Total deposits	5,695,121	$	5,612,456	$	5,155,047		1.5	%		10.5	%

All values are in US Dollars.

Total deposits increased to $5.7 billion at December 31, 2022 compared to $5.6 billion at September 30, 2022. Non-interest-bearing deposits were 37.6% and 38.2% of total deposits at December 31, 2022 and September 30, 2022, respectively.

The increase in deposits in the current quarter was due to:

• An increase in time deposits of $224.3 million, primarily due to promotional certificates of deposit.

Partially offset by:

• A decrease in money market demand accounts of $70.2 million, due to seasonal commercial outflows.

Total borrowings and other liabilities were $902.0 million at December 31, 2022, a decrease of $17.0 million from $919.0 million at September 30, 2022, primarily driven by decreases in Federal Home Loan Bank advances.

Stockholders’ Equity

Total stockholders’ equity was $765.8 million at December 31, 2022, an increase of $30.0 million from $735.8 million at September 30, 2022. The increase was primarily due to net income and a decrease in accumulated other comprehensive loss.

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The following table presents actual regulatory capital dollar amounts and ratios of the Company and Byline Bank as of December 31, 2022:

	Actual					Minimum Capital<br>Required					Required to be<br>Considered<br>Well Capitalized
December 31, 2022	Amount		Ratio			Amount		Ratio			Amount		Ratio
Total capital to risk weighted assets:
Company	$	900,806		13.00	%	$	554,436		8.00	%	N/A		N/A
Bank		852,047		12.34	%		552,507		8.00	%	$	690,633		10.00	%
Tier 1 capital to risk weighted assets:
Company	$	751,887		10.85	%	$	415,827		6.00	%	N/A		N/A
Bank		778,128		11.27	%		414,380		6.00	%	$	552,507		8.00	%
Common Equity Tier 1 (CET1) to<br>   risk weighted assets:
Company	$	706,887		10.20	%	$	311,870		4.50	%	N/A		N/A
Bank		778,128		11.27	%		310,785		4.50	%	$	448,912		6.50	%
Tier 1 capital to average assets:
Company	$	751,887		10.29	%	$	292,258		4.00	%	N/A		N/A
Bank		778,128		10.67	%	$	291,741		4.00	%	$	364,676		5.00	%

Capital ratios for the period presented are based on the Basel III regulatory capital framework as applied to our current business and operations, and are subject to, among other things, completion and filing of our regulatory reports and ongoing regulatory review and implementation guidance. The ratios above reflect the Company’s election to opt into the regulators’ joint CECL transition provision, which allows the Company to phase in the capital impact of the adoption of CECL over the next three years beginning January 1, 2022. Accordingly, capital ratios as of December 31, 2022 reflect 25% of the CECL impact.

Conference Call, Webcast and Slide Presentation

We will host a conference call and webcast at 9:00 a.m. Central Time on Friday, January 27, 2023 to discuss our quarterly financial results. Analysts and investors may participate in the question-and-answer session. The call can be accessed via telephone at (844) 200-6205; passcode 608025. A recorded replay can be accessed through February 10, 2023 by dialing (866) 813-9403; passcode: 817934.

A slide presentation relating to our fourth quarter 2022 results will be accessible prior to the conference call. The slide presentation and webcast of the conference call can be accessed on our investor relations website at www.bylinebancorp.com.

About Byline Bancorp, Inc.

Headquartered in Chicago, Byline Bancorp, Inc. is the parent company of Byline Bank, a full service commercial bank serving small- and medium-sized businesses, financial sponsors, and consumers. Byline Bank has approximately $7.3 billion in assets and operates more than 30 full service branch locations throughout the Chicago and Milwaukee metropolitan areas. Byline Bank offers a broad range of commercial and retail banking products and services including small ticket equipment leasing solutions and is one of the top Small Business Administration lenders in the United States.

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of the U.S. federal securities laws. Forward-looking statements include, without limitation, statements concerning plans, estimates, calculations, forecasts and projections with respect to the anticipated future performance of the Company. These statements are often, but not always, made through the use of words or phrases such as ‘‘may’’, ‘‘might’’, ‘‘should’’, ‘‘could’’, ‘‘predict’’, ‘‘potential’’, ‘‘believe’’, ‘‘expect’’, ‘‘continue’’, ‘‘will’’, ‘‘anticipate’’, ‘‘seek’’, ‘‘estimate’’, ‘‘intend’’, ‘‘plan’’, ‘‘projection’’, ‘‘would’’, ‘‘annualized’’, “target” and ‘‘outlook’’, or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. Forward-looking statements involve estimates and known and unknown risks, and reflect various assumptions and involve elements of subjective

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judgment and analysis, which may or may not prove to be correct, and which are subject to uncertainties and contingencies outside the control of Byline and its respective affiliates, directors, employees and other representatives, which could cause actual results to differ materially from those presented in this communication.

No representations, warranties or guarantees are or will be made by Byline as to the reliability, accuracy or completeness of any forward-looking statements contained in this communication or that such forward-looking statements are or will remain based on reasonable assumptions. You should not place undue reliance on any forward-looking statements contained in this communication.

Certain risks and important factors that could affect Byline’s future results are identified in our Annual Report on Form 10-K and other reports we file with the Securities and Exchange Commission, including among other things under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2021. Any forward-looking statement speaks only as of the date on which it is made, and Byline undertakes no obligation to update any forward-looking statement, whether to reflect events or circumstances after the date on which the statement is made, to reflect new information or the occurrence of unanticipated events, or otherwise unless required under the federal securities laws.

Contacts:

Investors:	Media:
Brooks Rennie	Erin O’Neill
Investor Relations Director	Marketing Director
312-660-5805	773-475-2901
brennie@bylinebank.com	eoneill@bylinebank.com

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BYLINE BANCORP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (unaudited)

				Recast			Recast			Recast
	December 31,			September 30,			June 30,			March 31,			December 31,
(dollars in thousands)	2022			2022			2022			2022			2021
ASSETS
Cash and due from banks	$	62,274		$	56,546		$	58,844		$	48,015		$	35,247
Interest bearing deposits with other banks		117,079			159,744			83,057			105,564			122,684
Cash and cash equivalents		179,353			216,290			141,901			153,579			157,931
Equity and other securities, at fair value		7,989			7,279			7,860			10,677			10,578
Securities available-for-sale, at fair value		1,174,431			1,181,654			1,273,138			1,369,368			1,454,542
Securities held-to-maturity, at amortized cost		2,705			3,877			3,880			3,882			3,885
Restricted stock, at cost		28,202			27,077			30,002			13,977			22,002
Loans held for sale		47,823			33,975			17,284			39,520			64,460
Loans and leases:
Loans and leases		5,421,258			5,275,126			5,167,716			4,787,607			4,537,128
Allowance for credit losses - loans and leases		(81,924	)		(79,704	)		(74,048	)		(72,107	)		(55,012	)
Net loans and leases		5,339,334			5,195,422			5,093,668			4,715,500			4,482,116
Servicing assets, at fair value		19,172			21,127			22,155			24,497			23,744
Premises and equipment, net		56,798			59,049			60,773			62,281			62,548
Other real estate owned, net		4,717			4,402			4,749			2,221			2,112
Goodwill and other intangible assets, net		158,887			160,484			162,094			163,962			165,558
Bank-owned life insurance		82,093			81,592			81,100			80,604			80,039
Deferred tax assets, net		68,213			95,831			82,412			71,355			50,329
Accrued interest receivable and other assets		193,224			179,218			143,014			114,035			116,328
Total assets	$	7,362,941		$	7,267,277		$	7,124,030		$	6,825,458		$	6,696,172
LIABILITIES AND STOCKHOLDERS’ EQUITY
LIABILITIES
Non-interest-bearing demand deposits	$	2,138,645		$	2,142,183		$	2,180,927		$	2,281,612		$	2,158,420
Interest-bearing deposits		3,556,476			3,470,273			3,207,450			3,248,490			2,996,627
Total deposits		5,695,121			5,612,456			5,388,377			5,530,102			5,155,047
Other borrowings		640,399			653,954			748,092			311,450			519,723
Subordinated notes, net		73,691			73,648			73,604			73,560			73,517
Junior subordinated debentures issued to <br>   capital trusts, net		37,338			37,232			37,123			37,011			36,906
Accrued expenses and other liabilities		150,576			154,182			121,185			95,675			74,597
Total liabilities		6,597,125			6,531,472			6,368,381			6,047,798			5,859,790
STOCKHOLDERS’ EQUITY
Preferred stock		—			—			—			—			10,438
Common stock		389			389			388			388			387
Additional paid-in capital		598,297			597,049			595,938			595,006			593,753
Retained earnings		335,794			314,800			297,766			279,386			271,676
Treasury stock		(51,114	)		(51,535	)		(47,181	)		(40,732	)		(31,570	)
Accumulated other comprehensive loss, net of tax		(117,550	)		(124,898	)		(91,262	)		(56,388	)		(8,302	)
Total stockholders’ equity		765,816			735,805			755,649			777,660			836,382
Total liabilities and stockholders’ equity	$	7,362,941		$	7,267,277		$	7,124,030		$	6,825,458		$	6,696,172

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BYLINE BANCORP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

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	Three Months Ended															Year Ended
				Recast			Recast			Recast
(dollars in thousands,	December 31,			September 30,			June 30,			March 31,			December 31,			December 31,			December 31,
except per share data)	2022			2022			2022			2022			2021			2022			2021
INTEREST AND DIVIDEND INCOME
Interest and fees on loans and leases	$	85,720		$	72,635		$	59,919		$	55,138		$	58,570		$	273,412		$	222,993
Interest on securities		6,569			6,402			6,264			6,155			5,619			25,390			23,601
Other interest and dividend income		1,515			626			496			120			495			2,757			2,332
Total interest and dividend income		93,804			79,663			66,679			61,413			64,684			301,559			248,926
INTEREST EXPENSE
Deposits		10,610			5,971			2,128			1,087			1,037			19,796			4,502
Other borrowings		4,598			3,232			1,097			395			330			9,322			1,663
Subordinated notes and debentures		1,992			1,825			1,694			1,600			1,589			7,111			6,374
Total interest expense		17,200			11,028			4,919			3,082			2,956			36,229			12,539
Net interest income		76,604			68,635			61,760			58,331			61,728			265,330			236,387
PROVISION/(RECAPTURE) FOR CREDIT LOSSES		5,826			7,208			4,286			6,559			(1,415	)		23,879			973
Net interest income after <br>  provision/(recapture) for <br>  credit losses		70,778			61,427			57,474			51,772			63,143			241,451			235,414
NON-INTEREST INCOME
Fees and service charges on deposits		2,081			2,128			2,059			1,884			1,955			8,152			7,254
Loan servicing revenue		3,293			3,422			3,384			3,380			3,392			13,479			12,693
Loan servicing asset revaluation		(3,534	)		(2,342	)		(4,636	)		(1,231	)		(2,510	)		(11,743	)		(6,658	)
ATM and interchange fees		1,250			1,007			1,131			1,049			1,219			4,437			4,476
Net realized gains (losses) on securities <br>   available-for-sale		—			(2	)		52			—			(21	)		50			1,435
Change in fair value of equity <br>   securities, net		710			(581	)		(697	)		(35	)		(98	)		(603	)		(62	)
Net gains on sales of loans		5,509			5,580			9,983			10,827			12,924			31,899			46,274
Wealth management and trust income		864			995			900			1,048			764			3,807			3,069
Other non-interest income		1,282			1,836			2,097			2,621			1,389			7,836			5,772
Total non-interest income		11,455			12,043			14,273			19,543			19,014			57,314			74,253
NON-INTEREST EXPENSE
Salaries and employee benefits		31,808			29,587			27,697			28,959			28,850			118,051			101,222
Occupancy and equipment expense, <br>   net		3,532			3,919			4,409			5,128			4,995			16,988			20,612
Impairment charge on assets <br>   held for sale		372			—			—			—			8,351			372			12,332
Loan and lease related expenses		1,126			530			942			(891	)		2,328			1,707			5,957
Legal, audit, and other <br>   professional fees		3,204			2,733			1,820			2,600			2,376			10,357			10,198
Data processing		3,406			3,370			3,396			3,186			3,070			13,358			11,780
Net loss recognized on other real <br>   estate owned and other related <br>   expenses		221			275			158			54			26			708			1,078
Other intangible assets amortization <br>   expense		1,596			1,611			1,868			1,596			1,738			6,671			7,073
Other non-interest expense		5,235			4,016			3,295			3,324			7,356			15,870			15,203
Total non-interest expense		50,500			46,041			43,585			43,956			59,090			184,082			185,455
INCOME BEFORE PROVISION FOR <br>   INCOME TAXES		31,733			27,429			28,162			27,359			23,067			114,683			124,212

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PROVISION FOR INCOME TAXES		7,366		7,020		6,382		5,961		5,878		26,729		31,427
NET INCOME		24,367		20,409		21,780		21,398		17,189		87,954		92,785
Dividends on preferred shares		—		—		—		196		196		196		783
INCOME AVAILABLE TO COMMON <br>   STOCKHOLDERS	$	24,367	$	20,409	$	21,780	$	21,202	$	16,993	$	87,758	$	92,002
EARNINGS PER COMMON SHARE
Basic	$	0.66	$	0.55	$	0.59	$	0.57	$	0.46	$	2.37	$	2.45
Diluted	$	0.65	$	0.55	$	0.58	$	0.56	$	0.45	$	2.34	$	2.40

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BYLINE BANCORP, INC. AND SUBSIDIARIES

SELECTED FINANCIAL DATA (unaudited)

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	As of or For the Three Months Ended															As of or For the Twelve Months Ended
				Recast			Recast			Recast
(dollars in thousands, except share	December 31,			September 30,			June 30,			March 31,			December 31,			December 31,			December 31,
and per share data)	2022			2022			2022			2022			2021			2022			2021
Earnings per Common Share
Basic earnings per common share	$	0.66		$	0.55		$	0.59		$	0.57		$	0.46		$	2.37		$	2.45
Diluted earnings per common share	$	0.65		$	0.55		$	0.58		$	0.56		$	0.45		$	2.34		$	2.40
Adjusted diluted earnings per <br>   common share(1)(2)(3)(4)	$	0.67		$	0.55		$	0.58		$	0.56		$	0.69		$	2.36		$	2.71
Weighted average common shares <br>   outstanding (basic)		36,856,221			36,851,973			37,064,795			37,123,161			37,124,176			36,972,972			37,609,723
Weighted average common shares <br>   outstanding (diluted)		37,360,113			37,371,159			37,612,268			38,042,822			37,999,401			37,476,120			38,369,067
Common shares outstanding		37,492,775			37,465,902			37,669,102			37,811,582			37,713,903			37,492,775			37,713,903
Cash dividends per common share	$	0.09		$	0.09		$	0.09		$	0.09		$	0.09		$	0.36		$	0.30
Dividend payout ratio on <br>  common stock		13.85	%		16.36	%		15.52	%		16.07	%		20.00	%		15.38	%		12.50	%
Tangible book value per <br>  common share(1)	$	16.19		$	15.36		$	15.76		$	16.23		$	17.51		$	16.19		$	17.51
Key Ratios and Performance Metrics <br>   (annualized where applicable)
Net interest margin, fully taxable <br>  equivalent (1)(5)		4.40	%		4.04	%		3.78	%		3.80	%		3.97	%		4.01	%		3.86	%
Average cost of deposits		0.73	%		0.43	%		0.16	%		0.08	%		0.08	%		0.36	%		0.09	%
Efficiency ratio(2)		55.53	%		55.07	%		54.87	%		54.40	%		71.03	%		54.99	%		57.42	%
Adjusted efficiency ratio(1)(2)(3)		54.50	%		55.07	%		54.87	%		54.40	%		55.61	%		54.70	%		52.14	%
Non-interest income to total <br>   revenues(1)		13.01	%		14.93	%		18.77	%		25.09	%		23.55	%		17.76	%		23.90	%
Non-interest expense to average assets		2.76	%		2.56	%		2.51	%		2.66	%		3.50	%		2.62	%		2.79	%
Adjusted non-interest expense to <br>   average assets(1)(3)		2.71	%		2.56	%		2.51	%		2.66	%		2.76	%		2.61	%		2.54	%
Return on average stockholders' equity		12.92	%		10.57	%		11.35	%		10.56	%		8.13	%		11.33	%		11.31	%
Adjusted return on average <br>   stockholders' equity(1)(3)(4)		13.34	%		10.57	%		11.35	%		10.56	%		12.42	%		11.43	%		12.77	%
Return on average assets		1.33	%		1.13	%		1.25	%		1.30	%		1.02	%		1.25	%		1.40	%
Adjusted return on average assets(1)(3)(4)		1.37	%		1.13	%		1.25	%		1.30	%		1.56	%		1.26	%		1.58	%
Pre-tax pre-provision return on <br>   average assets(1)		2.05	%		1.93	%		1.87	%		2.05	%		1.28	%		1.97	%		1.88	%
Adjusted pre-tax pre-provision return<br>  on average assets(1)(3)		2.10	%		1.93	%		1.87	%		2.05	%		2.02	%		1.99	%		2.13	%
Return on average tangible common <br>   stockholders' equity(1)		17.21	%		14.17	%		15.31	%		14.02	%		10.94	%		15.15	%		15.17	%
Adjusted return on average tangible <br>   common stockholders' equity(1)(3)		17.75	%		14.17	%		15.31	%		14.02	%		16.38	%		15.28	%		17.04	%
Non-interest-bearing deposits to <br>  total deposits		37.55	%		38.17	%		40.47	%		41.26	%		41.87	%		37.55	%		41.87	%
Loans and leases held for sale and <br>  loans and lease held for <br>  investment to total deposits		96.03	%		94.59	%		96.23	%		87.29	%		89.26	%		96.03	%		89.26	%
Deposits to total liabilities		86.33	%		85.93	%		84.61	%		91.44	%		87.97	%		86.33	%		87.97	%
Deposits per branch	$	149,872		$	147,696		$	141,799		$	125,684		$	117,160		$	149,872		$	117,160
Asset Quality Ratios
Non-performing loans and leases to <br>   total loans and leases held for <br>   investment, net before ACL		0.66	%		0.80	%		0.83	%		0.69	%		0.51	%		0.66	%		0.51	%

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Net charge-offs to average total loans<br>   and leases held for investment, <br>   net before ACL - loans and leases	0.23	%	0.12	%	0.17	%	0.07	%	0.37	%	0.32	%	0.28	%
Capital Ratios
Common equity to total assets	10.40	%	10.12	%	10.61	%	11.39	%	12.33	%	10.40	%	12.33	%
Tangible common equity to <br>  tangible assets(1)	8.42	%	8.10	%	8.53	%	9.21	%	10.11	%	8.42	%	10.11	%
Leverage ratio	10.29	%	10.30	%	10.34	%	10.70	%	10.89	%	10.29	%	10.89	%
Common equity tier 1 capital ratio	10.20	%	10.24	%	10.26	%	10.75	%	11.39	%	10.20	%	11.39	%
Tier 1 capital ratio	10.85	%	10.91	%	10.95	%	11.49	%	12.37	%	10.85	%	12.37	%
Total capital ratio	13.00	%	13.02	%	13.09	%	13.72	%	14.70	%	13.00	%	14.70	%

(1) Represents a non-GAAP financial measure. See “Reconciliation of non-GAAP Financial Measures” for a reconciliation of our non-GAAP measures to the most directly comparable GAAP financial measure.

(2) Represents non-interest expense less amortization of intangible assets divided by net interest income and non-interest income.

(3) Calculation excludes impairment charges.

(4) Represents the remaining net unaccreted discount as a result of applying the fair value adjustment at the time of the business combination on acquired loans.

(5) Interest income and rates include the effects of a tax equivalent adjustment to adjust tax exempt investment income on tax exempt investment securities to a fully taxable basis, assuming a federal income tax rate of 21%.

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BYLINE BANCORP, INC. AND SUBSIDIARIES

YEAR-TO-DATE STATEMENT OF AVERAGE INTEREST-EARNING ASSETS AND AVERAGE INTEREST-BEARING LIABILITIES (unaudited)

	For the Year Ended December 31,
	2022								2021
(dollars in thousands)	Average<br>Balance(5)			Interest<br>Inc / Exp		Average<br>Yield /<br>Rate			Average<br>Balance(5)			Interest<br>Inc / Exp		Average<br>Yield /<br>Rate
ASSETS
Cash and cash equivalents	$	76,978		$	547		0.71	%	$	69,338		$	117		0.17	%
Loans and leases(1)		5,073,288			273,412		5.39	%		4,518,836			222,993		4.93	%
Taxable securities		1,316,147			24,156		1.84	%		1,376,045			21,909		1.59	%
Tax-exempt securities(2)		164,051			4,359		2.66	%		184,622			4,946		2.68	%
Total interest-earning assets	$	6,630,464		$	302,474		4.56	%	$	6,148,841		$	249,965		4.07	%
Allowance for credit losses - loans and leases		(74,233	)							(63,351	)
All other assets		462,548								556,641
TOTAL ASSETS	$	7,018,779							$	6,642,131
LIABILITIES AND STOCKHOLDERS’<br>   EQUITY
Deposits
Interest checking	$	593,903		$	3,572		0.60	%	$	622,147		$	883		0.14	%
Money market accounts		1,357,371			10,484		0.77	%		1,073,970			1,285		0.12	%
Savings		658,968			649		0.10	%		610,953			289		0.05	%
Time deposits		691,650			5,091		0.74	%		722,974			2,045		0.28	%
Total interest-bearing deposits		3,301,892			19,796		0.60	%		3,030,044			4,502		0.15	%
Other borrowings		479,004			9,322		1.95	%		525,078			1,663		0.32	%
Subordinated notes and debentures		110,723			7,111		6.42	%		110,108			6,374		5.79	%
Total borrowings		589,727			16,433		2.79	%		635,186			8,037		1.27	%
Total interest-bearing liabilities	$	3,891,619		$	36,229		0.93	%	$	3,665,230		$	12,539		0.34	%
Non-interest-bearing demand deposits		2,236,615								2,085,454
Other liabilities		114,320								71,430
Total stockholders’ equity		776,225								820,017
TOTAL LIABILITIES AND<br>   STOCKHOLDERS’ EQUITY	$	7,018,779							$	6,642,131
Net interest spread(3)							3.63	%							3.73	%
Net interest income, fully <br>  taxable equivalent				$	266,245							$	237,426
Net interest margin, fully <br>  taxable equivalent(2)(4)							4.01	%							3.86	%
Less: Tax-equivalent adjustment					915		0.01	%					1,039		0.02	%
Net interest income				$	265,330							$	236,387
Net interest margin(4)							4.00	%							3.84	%
Net loan accretion impact on margin				$	4,555		0.07	%				$	6,451		0.10	%

(1) Loan and lease balances are net of deferred origination fees and costs and initial indirect costs. Non-accrual loans and leases are included in total loan and lease balances.

(2) Interest income and rates include the effects of a tax equivalent adjustment to adjust tax exempt investment income on tax exempt investment securities to a fully taxable basis, assuming a federal income tax rate of 21%.

(3) Represents the average rate earned on interest-earning assets minus the average rate paid on interest-bearing liabilities.

(4) Represents net interest income (annualized) divided by total average earning assets.

(5) Average balances are average daily balances.

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BYLINE BANCORP, INC. AND SUBSIDIARIES

APPENDIX A - IMPACT OF THE ADOPTION OF CECL (unaudited)

The following tables have been included to provide additional information regarding the Company’s adoption of the new CECL accounting standard. The Company adopted CECL on December 31, 2022 and retroactively applied it to the period beginning January 1, 2022 using the modified retrospective method of accounting. The first table reflects the adoption adjustments for CECL that were made to the January 1, 2022 balances for key balance sheet accounts.

	January 1, 2022
(dollars in thousands)	Pre-CECL Adoption		Impact of CECL Adoption			As Reported under CECL
Balance Sheet:
ASSETS
Allowance for credit losses - loans and leases	$	55,012	$	12,168		$	67,180
Deferred tax assets, net		50,329		3,679			54,008
LIABILITIES
Allowance for credit losses on unfunded commitments	$	1,403	$	1,595		$	2,998
EQUITY
Retained earnings	$	271,676	$	(10,097	)	$	261,579

The second table presents the impact of CECL on 2022 quarters previously reported using the incurred loss method of accounting. The table includes adjustments made to key balance sheet and income statement accounts to reflect how the balances would have been reflected had CECL been in effect for the full year.

	Three Months Ended
	March 31, 2022									June 30, 2022									September 30, 2022
(dollars in thousands)	As Reported			Adjustment			Recast			As Reported			Adjustment			Recast			As Reported			Adjustment			Recast
Balance Sheet:
ASSETS
Loans and leases	$	4,789,068		$	(1,461	)	$	4,787,607		$	5,168,071		$	(355	)	$	5,167,716		$	5,275,471		$	(345	)	$	5,275,126
Allowance for credit losses <br>   - loans and leases		(59,458	)		(12,649	)		(72,107	)		(62,436	)		(11,612	)		(74,048	)		(64,655	)		(15,049	)		(79,704	)
Deferred tax assets, net		67,335			4,020			71,355			78,950			3,462			82,412			91,532			4,299			95,831
Accrued interest receivable<br>   and other assets		113,123			912			114,035			142,196			818			143,014			178,433			785			179,218
LIABILITIES
Allowance for credit losses <br>  - unfunded commitments		2,003			1,832			3,835			2,191			1,825			4,016			2,327			1,450			3,777
EQUITY
Retained earnings		290,397			(11,011	)		279,386			307,278			(9,512	)		297,766			326,560			(11,760	)		314,800
Income Statement:
Provision for credit losses - <br>  loans and leases	$	4,995		$	728		$	5,723		$	5,908		$	(1,803	)	$	4,105		$	4,176		$	3,271		$	7,447
Provision for credit losses <br>   - unfunded commitments		599			237			836			188			(7	)		181			137			(376	)		(239	)
Net interest income after <br>  provision for credit losses		53,741			(1,969	)		51,772			55,719			1,755			57,474			64,699			(3,272	)		61,427
Income before provision <br>  for income taxes		28,612			(1,253	)		27,359			26,107			2,055			28,162			30,513			(3,084	)		27,429
Provision for income taxes		6,301			(340	)		5,961			5,824			558			6,382			7,857			(837	)		7,020
Net income	$	22,311		$	(913	)	$	21,398		$	20,283		$	1,497		$	21,780		$	22,656		$	(2,247	)	$	20,409
Net income available to <br>  common shareholders	$	22,115		$	(913	)	$	21,202		$	20,283		$	1,497		$	21,780		$	22,656		$	(2,247	)	$	20,409
EARNINGS PER COMMON SHARE
Basic		0.60			(0.03	)		0.57			0.55			0.04			0.59			0.61			(0.06	)		0.55
Diluted		0.58			(0.02	)		0.56			0.54			0.04			0.58			0.61			(0.06	)		0.55

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BYLINE BANCORP, INC. AND SUBSIDIARIES

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (unaudited)

Non-GAAP Financial Measures

This release contains certain financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America (“GAAP”). These measures include adjusted net income, adjusted diluted earnings per share, adjusted efficiency ratio, adjusted non-interest expense to average assets, tax-equivalent net interest margin, total revenue, non-interest income to total revenues, adjusted return on average stockholders’ equity, adjusted return on average assets, pre-tax pre-provision return on average assets, adjusted pre-tax pre-provision return on average assets, tangible book value per common share, tangible common equity to tangible assets, return on average tangible common stockholders' equity, and adjusted return on average tangible common stockholders' equity. Management believes that these non-GAAP financial measures provide useful information to management and investors that is supplementary to the Company’s financial condition, results of operations and cash flows computed in accordance with GAAP; however, management acknowledges that our non-GAAP financial measures have a number of limitations. As such, these disclosures should not be viewed as a substitute for results determined in accordance with GAAP financial measures that we and other companies use. Management also uses these measures for peer comparison. See below in the financial schedules included in this press release for a reconciliation of the non-GAAP financial measures to the comparable GAAP financial measures. Additionally, please refer to the Company’s Annual Report on Form 10-K for the detailed definitions of these non-GAAP financial measures.

	As of or For the Three Months Ended												As of or For the Twelve Months Ended
				Recast		Recast		Recast
	December 31,			September 30,		June 30,		March 31,		December 31,			December 31,			December 31,
(dollars in thousands, except per share data)	2022			2022		2022		2022		2021			2022			2021
Net income and earnings per share <br>   excluding significant items
Reported Net Income	$	24,367		$	20,409	$	21,780	$	21,398	$	17,189		$	87,954		$	92,785
Significant items:
Impairment charges on assets held <br>   for sale and ROU asset		372			—		—		—		12,449			372			16,430
Merger-related expenses		538			—		—		—		—			538			—
Tax benefit		(118	)		—		—		—		(3,377	)		(118	)		(4,462	)
Adjusted Net Income	$	25,159		$	20,409	$	21,780	$	21,398	$	26,261		$	88,746		$	104,753
Reported Diluted Earnings per Share	$	0.65		$	0.55	$	0.58	$	0.56	$	0.45		$	2.34		$	2.40
Significant items:
Impairment charges on assets held <br>   for sale and ROU asset		0.01			—		—		—		0.33			0.01			0.43
Merger-related expenses		0.01			—		—		—		—			0.01			—
Tax benefit		—			—		—		—		(0.09	)		—			(0.12	)
Adjusted Diluted Earnings per Share	$	0.67		$	0.55	$	0.58	$	0.56	$	0.69		$	2.36		$	2.71

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BYLINE BANCORP, INC. AND SUBSIDIARIES

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RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (continued) (unaudited)

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	As of or For the Three Months Ended											As of or For the Twelve Months Ended
			Recast		Recast		Recast
(dollars in thousands, except per share data,	December 31,		September 30,		June 30,		March 31,		December 31,			December 31,		December 31,
ratios annualized, where applicable)	2022		2022		2022		2022		2021			2022		2021
Adjusted non-interest expense:
Non-interest expense	$	50,500	$	46,041	$	43,585	$	43,956	$	59,090		$	184,082	$	185,455
Less: Significant items
Impairment charges on assets held for sale <br>  and ROU asset		372		—		—		—		12,449			372		16,430
Merger-related expenses		538		—		—		—		—			538		—
Adjusted non-interest expense	$	49,590	$	46,041	$	43,585	$	43,956	$	46,641		$	183,172	$	169,025
Adjusted non-interest expense excluding <br>   amortization of intangible assets:
Adjusted non-interest expense	$	49,590	$	46,041	$	43,585	$	43,956	$	46,641		$	183,172	$	169,025
Less: Amortization of intangible assets		1,596		1,611		1,868		1,596		1,738			6,671		7,073
Adjusted non-interest expense excluding <br>   amortization of intangible assets	$	47,994	$	44,430	$	41,717	$	42,360	$	44,903		$	176,501	$	161,952
Pre-tax pre-provision net income:
Pre-tax income	$	31,733	$	27,429	$	28,162	$	27,359	$	23,067		$	114,683	$	124,212
Add: Provision/(recapture) for credit losses		5,826		7,208		4,286		6,559		(1,415	)		23,879		973
Pre-tax pre-provision net income	$	37,559	$	34,637	$	32,448	$	33,918	$	21,652		$	138,562	$	125,185
Adjusted pre-tax pre-provision net income:
Pre-tax pre-provision net income	$	37,559	$	34,637	$	32,448	$	33,918	$	21,652		$	138,562	$	125,185
Add: Impairment charges on assets held for sale <br>  and ROU asset		372		—		—		—		12,449			372		16,430
Add: Merger-related expenses		538		—		—		—		—			538		—
Adjusted pre-tax pre-provision net income	$	38,469	$	34,637	$	32,448	$	33,918	$	34,101		$	139,472	$	141,615
Tax equivalent net interest income
Net interest income	$	76,604	$	68,635	$	61,760	$	58,331	$	61,728		$	265,330	$	236,387
Add: Tax-equivalent adjustment		214		228		236		236		256			915		1,039
Net interest income, fully taxable equivalent	$	76,818	$	68,863	$	61,996	$	58,567	$	61,984		$	266,245	$	237,426
Total revenue:
Net interest income	$	76,604	$	68,635	$	61,760	$	58,331	$	61,728		$	265,330	$	236,387
Add: Non-interest income		11,455		12,043		14,273		19,543		19,014			57,314		74,253
Total revenue	$	88,059	$	80,678	$	76,033	$	77,874	$	80,742		$	322,644	$	310,640
Tangible common stockholders' equity:
Total stockholders' equity	$	765,816	$	735,805	$	755,649	$	777,660	$	836,382		$	765,816	$	836,382
Less: Preferred stock		—		—		—		—		10,438			—		10,438
Less: Goodwill and other intangibles		158,887		160,484		162,094		163,962		165,558			158,887		165,558
Tangible common stockholders' equity	$	606,929	$	575,321	$	593,555	$	613,698	$	660,386		$	606,929	$	660,386
Tangible assets:
Total assets	$	7,362,941	$	7,267,277	$	7,124,030	$	6,825,458	$	6,696,172		$	7,362,941	$	6,696,172
Less: Goodwill and other intangibles		158,887		160,484		162,094		163,962		165,558			158,887		165,558
Tangible assets	$	7,204,054	$	7,106,793	$	6,961,936	$	6,661,496	$	6,530,614		$	7,204,054	$	6,530,614
Average tangible common stockholders' <br>   equity:
Average total stockholders' equity	$	748,292	$	765,821	$	769,658	$	822,053	$	838,975		$	776,225	$	820,017
Less: Average preferred stock		—		—		—		9,974		10,438			2,459		10,438
Less: Average goodwill and other <br>   intangibles		159,680		161,292		163,068		164,837		166,396			162,203		169,042
Average tangible common stockholders' <br>  equity	$	588,612	$	604,529	$	606,590	$	647,242	$	662,141		$	611,563	$	640,537
Average tangible assets:
Average total assets	$	7,266,053	$	7,137,472	$	6,966,564	$	6,697,476	$	6,699,069		$	7,018,779	$	6,642,131
Less: Average goodwill and other <br>   intangibles		159,680		161,292		163,068		164,837		166,396			162,203		169,042
Average tangible assets	$	7,106,373	$	6,976,180	$	6,803,496	$	6,532,639	$	6,532,673		$	6,856,576	$	6,473,089
Tangible net income available to common <br>   stockholders:
Net income available to common <br>  stockholders	$	24,367	$	20,409	$	21,780	$	21,202	$	16,993		$	87,758	$	92,002
Add: After-tax intangible asset amortization		1,170		1,181		1,369		1,170		1,266			4,890		5,147
Tangible net income available to common <br>   stockholders	$	25,537	$	21,590	$	23,149	$	22,372	$	18,259		$	92,648	$	97,149
Adjusted tangible net income available<br>  to common stockholders:

Byline Bancorp, Inc.

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Tangible net income available to common <br>   stockholders	$	25,537		$	21,590	$	23,149	$	22,372	$	18,259		$	92,648		$	97,149
Impairment charges on assets held for sale <br>  and ROU asset		372			—		—		—		12,449			372			16,430
Merger-related expenses		538			—		—		—		—			538			—
Tax benefit on significant items		(118	)		—		—		—		(3,377	)		(118	)		(4,462	)
Adjusted tangible net income available to <br>   common stockholders	$	26,329		$	21,590	$	23,149	$	22,372	$	27,331		$	93,440		$	109,117

Byline Bancorp, Inc.

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BYLINE BANCORP, INC. AND SUBSIDIARIES

Byline Bancorp, Inc.

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RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (continued) (unaudited)

	As of or For the Three Months Ended															As of or For the Twelve Months Ended
				Recast			Recast			Recast
(dollars in thousands, except share and per share	December 31,			September 30,			June 30,			March 31,			December 31,			December 31,			December 31,
data, ratios annualized, where applicable)	2022			2022			2022			2022			2021			2022			2021
Pre-tax pre-provision return on average assets:
Pre-tax pre-provision net income	$	37,559		$	34,637		$	32,448		$	33,918		$	21,652		$	138,562		$	125,185
Average total assets		7,266,053			7,137,472			6,966,564			6,697,476			6,699,069			7,018,779			6,642,131
Pre-tax pre-provision return on average assets		2.05	%		1.93	%		1.87	%		2.05	%		1.28	%		1.97	%		1.88	%
Adjusted pre-tax pre-provision return on average <br>   assets:
Adjusted pre-tax pre-provision net income	$	38,469		$	34,637		$	32,448		$	33,918		$	34,101		$	139,472		$	141,615
Average total assets		7,266,053			7,137,472			6,966,564			6,697,476			6,699,069			7,018,779			6,642,131
Adjusted pre-tax pre-provision return on average <br>   assets		2.10	%		1.93	%		1.87	%		2.05	%		2.02	%		1.99	%		2.13	%
Net interest margin, fully taxable equivalent
Net interest income, fully taxable equivalent	$	76,818		$	68,863		$	61,996		$	58,567		$	61,984		$	266,245		$	237,426
Total average interest-earning assets		6,922,890			6,763,916			6,572,416			6,252,866			6,189,762			6,630,464			6,148,841
Net interest margin, fully taxable equivalent		4.40	%		4.04	%		3.78	%		3.80	%		3.97	%		4.01	%		3.86	%
Non-interest income to total revenues:
Non-interest income	$	11,455		$	12,043		$	14,273		$	19,543		$	19,014		$	57,314		$	74,253
Total revenues		88,059			80,678			76,033			77,874			80,742			322,644			310,640
Non-interest income to total revenues		13.01	%		14.93	%		18.77	%		25.09	%		23.55	%		17.76	%		23.90	%
Adjusted non-interest expense to average assets:
Adjusted non-interest expense	$	49,590		$	46,041		$	43,585		$	43,956		$	46,641		$	183,172		$	169,025
Average total assets		7,266,053			7,137,472			6,966,564			6,697,476			6,699,069			7,018,779			6,642,131
Adjusted non-interest expense to average assets		2.71	%		2.56	%		2.51	%		2.66	%		2.76	%		2.61	%		2.54	%
Adjusted efficiency ratio:
Adjusted non-interest expense excluding <br>   amortization of intangible assets	$	47,994		$	44,430		$	41,717		$	42,360		$	44,903		$	176,501		$	161,952
Total revenues		88,059			80,678			76,033			77,874			80,742			322,644			310,640
Adjusted efficiency ratio		54.50	%		55.07	%		54.87	%		54.40	%		55.61	%		54.70	%		52.14	%
Adjusted return on average assets:
Adjusted net income	$	25,159		$	20,409		$	21,780		$	21,398		$	26,261		$	88,746		$	104,753
Average total assets		7,266,053			7,137,472			6,966,564			6,697,476			6,699,069			7,018,779			6,642,131
Adjusted return on average assets		1.37	%		1.13	%		1.25	%		1.30	%		1.56	%		1.26	%		1.58	%
Adjusted return on average stockholders' equity:
Adjusted net income	$	25,159		$	20,409		$	21,780		$	21,398		$	26,261		$	88,746		$	104,753
Average stockholders' equity		748,292			765,821			769,658			822,053			838,975			776,225			820,017
Adjusted return on average stockholders' equity		13.34	%		10.57	%		11.35	%		10.56	%		12.42	%		11.43	%		12.77	%
Tangible common equity to tangible assets:
Tangible common equity	$	606,929		$	575,321		$	593,555		$	613,698		$	660,386		$	606,929		$	660,386
Tangible assets		7,204,054			7,106,793			6,961,936			6,661,496			6,530,614			7,204,054			6,530,614
Tangible common equity to tangible assets		8.42	%		8.10	%		8.53	%		9.21	%		10.11	%		8.42	%		10.11	%
Return on average tangible common stockholders' <br>   equity:
Tangible net income available to common <br>   stockholders	$	25,537		$	21,590		$	23,149		$	22,372		$	18,259		$	92,648		$	97,149
Average tangible common stockholders' equity		588,612			604,529			606,590			647,242			662,141			611,563			640,537
Return on average tangible common <br>   stockholders' equity		17.21	%		14.17	%		15.31	%		14.02	%		10.94	%		15.15	%		15.17	%
Adjusted return on average tangible common <br>   stockholders' equity:
Adjusted tangible net income available to<br>   common stockholders	$	26,329		$	21,590		$	23,149		$	22,372		$	27,331		$	93,440		$	109,117
Average tangible common stockholders' equity		588,612			604,529			606,590			647,242			662,141			611,563			640,537
Adjusted return on average tangible common <br>   stockholders' equity		17.75	%		14.17	%		15.31	%		14.02	%		16.38	%		15.28	%		17.04	%
Tangible book value per share:
Tangible common equity	$	606,929		$	575,321		$	593,555		$	613,698		$	660,386		$	606,929		$	660,386
Common shares outstanding		37,492,775			37,465,902			37,669,102			37,811,582			37,713,903			37,492,775			37,713,903
Tangible book value per share	$	16.19		$	15.36		$	15.76		$	16.23		$	17.51		$	16.19		$	17.51

Byline Bancorp, Inc. 4Q22 Earnings Presentation January 26, 2022 Exhibit 99.2

2 Forward-Looking Statements Forward-Looking Statements This communication contains forward-looking statements within the meaning of the U.S. federal securities laws. Forward-looking statements include, without limitation, statements concerning plans, estimates, calculations, forecasts and projections with respect to the anticipated future performance of the Company. These statements are often, but not always, made through the use of words or phrases such as ‘‘may’’, ‘‘might’’, ‘‘should’’, ‘‘could’’, ‘‘predict’’, ‘‘potential’’, ‘‘believe’’, ‘‘expect’’, ‘‘continue’’, ‘‘will’’, ‘‘anticipate’’, ‘‘seek’’, ‘‘estimate’’, ‘‘intend’’, ‘‘plan’’, ‘‘projection’’, ‘‘would’’, ‘‘annualized’’, “target” and ‘‘outlook’’, or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. Forward-looking statements involve estimates and known and unknown risks, and reflect various assumptions and involve elements of subjective judgement and analysis, which may or may not prove to be correct, and which are subject to uncertainties and contingencies outside the control of Byline and its respective affiliates, directors, employees and other representatives, which could cause actual results to differ materially from those presented in this communication. No representations, warranties or guarantees are or will be made by Byline as to the reliability, accuracy or completeness of any forward-looking statements contained in this communication or that such forward-looking statements are or will remain based on reasonable assumptions. You should not place undue reliance on any forward-looking statements contained in this communication. Certain risks and important factors that could affect Byline’s future results are identified in our Annual Report on Form 10-K and other reports we file with the Securities and Exchange Commission, including among other things under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2021. Any forward-looking statement speaks only as of the date on which it is made, and Byline undertakes no obligation to update any forward-looking statement, whether to reflect events or circumstances after the date on which the statement is made, to reflect new information or the occurrence of unanticipated events, or otherwise unless required under the federal securities laws. Due to rounding, numbers presented throughout this document may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. Current Expected Credit Loss (“CECL”) Adoption In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-13 Financial Instruments - Credit Losses (Topic 326) on the recognition of credit losses, otherwise known as the current expected credit loss standard, or "CECL", which replaces the incurred loss impairment methodology with a methodology that reflects current expected credit losses. As an emerging growth company, we elected to delay the adoption of the standard in accordance with ASU No. 2019-10, Effective Dates, which delayed the effective date of the ASU for entities not classified as Public Business Entities. The Company’s EGC status expired during 2022, requiring CECL adoption be reflected in our December 31, 2022 financial statements and Form 10-K. The Company adopted CECL on December 31, 2022, and has applied it retroactively to the period beginning January 1, 2022 using the modified retrospective method of accounting. Adoption of CECL includes both a $10.1 million retroactive equity adjustment to January 1, 2022 (Day 1) and a $1.7 million fourth quarter adjustment to earnings (net of tax) to account for the difference in provision for credit losses between CECL and the incurred loss methodology for the first three quarters of 2022. Results for reporting periods beginning after September 30, 2022 are presented under the new standard, while prior quarters previously reported are "Recast" as if the new standard had been applied since January 1, 2022. Refer to Appendix A in the Fourth Quarter 2022 Earnings Release for recast prior quarter financial information as a result of the adoption of the new standard. Ongoing impacts of the CECL methodology will be dependent upon changes in economic conditions and forecasts, originated and acquired loan portfolio composition, credit performance trends, portfolio duration, and other factors.

Full Year 2022 Summary Performance Highlights Reported net income of $88.0 million, or EPS of $2.34, on revenue of $322.6 million Solid PTPP ROA of 1.97%, ROA of 1.25%, ROTCE of 15.15% Delivered full year diversified loan growth of 19%, funded by high quality deposit base which grew 10% YoY Maintained strong capital ratios with CET1 at 10.20% and TCE/TA(1) at 8.42% Credit quality remained stable with NCOs of 0.23%, down 14 bps Y/Y Exited emerging growth company status and adopted the Current Expected Credit Loss (“CECL”) accounting standard Revenue EPS Efficiency ratio Total Assets Total Loans and Leases Total Deposits 4% Y/Y $322.6 million 3% Y/Y $2.34 Improved 228 bps Y/Y 54.99% $7.4 billion $5.4 billion $5.7 billion 3 10% Y/Y 10% Y/Y 19% Y/Y Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix.

Credit quality remained stable with: NPA/Assets of 0.55%, down 9 bps QoQ NPLs (ex. gov gtd) decreased 14 bps to 0.62% in 4Q22 NCOs of 0.23%, up 9 bps QoQ ACL as percent of loans and leases of 1.51%, flat QoQ ROAA & ROTCE(1) PTPP Net Income & EPS Fourth Quarter 2022 Highlights $0.65 per diluted share $24.4 million 17.21% ROTCE 1.33% ROAA 2.05% PTPP ROA $37.6 million Profitability Credit Quality Capital Grew Pre-Tax Pre-Provision Net Income 8.4% QoQ to $37.6 million, driven by higher net interest income Solid broad-based total loan growth of 12.0% annualized Net interest margin (FTE)(1) expanded 36 bps to 4.40% Earning assets yields increased 70 bps to 5.39% driven by: Loan yields expanding 79 bps Deposit costs increased 30 bps CET1 and Total Capital ratios remained solid at 10.20% and 13.00% TCE/TA(1): 8.42% Returned $30.8 million capital to common stockholders through dividends and share repurchases in 2022 Repurchased 689,068 shares of common stock during 2022 at a cost of $17.3 million Authorization of a new 1.25 million share repurchase program 4 Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix.

Pre-Tax Pre-Provision Net Income ($ in millions) Quarterly Pre-Tax Pre-Provision Net Income and ROAA(1) 5 Annual Pre-Tax Pre-Provision Net Income and ROAA(1) Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix. As we are investing in people and technology with the goal of improving growth and efficiency… …our strategy is producing record PTPP; driving sustained profitability and delivering positive operating leverage

Loan and Lease Trends ($ in millions) Excludes PPP Loans. Total Loans & Leases and Average Yield Portfolio Composition Repricing Mix Originations and Payoffs(1) Total loans and leases were $5.5 billion at 4Q22, an increase of $160.0 million, or 12.0% annualized Originated $269.0 million in new loans, net of loan sales in 4Q22 compared to $303.2 million in 3Q22 Production driven by commercial of $105.0 million and lease originations of $74.4 million Payoff(1) activity decreased by $42.0 million from 3Q22 Net commitments increased $59.8 million from 3Q22 Line usage of 55.8% in 4Q22, flat from 3Q22 Highlights 6 Total Loans and Leases % change QoQ YoY 3.0% 18.8%

(1) $ Balance % of Portfolio Unguaranteed $379.4 7.0% Guaranteed 99.5 1.8% Total SBA 7(a) Loans $478.9 8.8% Unguaranteed $41.4 0.8% Guaranteed 21.6 0.4% Total USDA Loans $63.1 1.2% Unguaranteed Loan Portfolio by Industry A leading SBA 7(a) lender for Government Fiscal Year 2022 #5 SBA 7(a) lender in the United States Closed $120.9 million loan commitments in 4Q22 SBA 7(a) portfolio $478.9 million, down $2.6 million from 3Q22 ACL/Unguaranteed loan balance ~ 8.9% Servicing $1.7 billion in government guaranteed loans for investors Government-Guaranteed Lending ($ in millions) On Balance Sheet SBA 7(a) & USDA Loans Total SBC Closed Loan Commitments Highlights Represents sectors with less than 5% of the total portfolio. 7

Cost of Interest Bearing Deposits Total deposits were $5.7 billion, up 5.8% annualized from 3Q22 Non-interest-bearing deposits flat QoQ Strong inflows of time deposits, primarily due to promotional campaigns Maintained a solid deposit mix with non-interest bearing DDAs representing 37.6% of total deposits Commercial deposits accounted for 48.5% of total deposits and represent 77.5% of all non-interest bearing deposits Cumulative total deposit beta remains low at ~15% Deposit Trends ($ in millions) Deposit Composition Highlights Average Non-Interest Bearing Deposits Deposit Beta(1) Interest-Bearing Deposits: 25% Total Deposits: 15% 8 Beta calculation is based on change in deposit cost divided by change in Fed Funds from 4Q21 to 4Q22. Total Deposits % change QoQ YoY 1.5% 10.5%

Net interest income was $76.6 million, up 11.6% from 3Q22 Net interest margin increased 36 basis points from 3Q22 to 4.39% Asset sensitive profile supported QoQ margin expansion Loan and lease yield of 6.31%, up 79 basis points from 3Q22 Interest Rate Sensitivity Interest rate risk position slightly less asset sensitive +$5 million in net interest income per 25 bps in Fed tightening SBA asset repricing lag – Q4 rate increases effective in Q1 NIM Bridge Net Interest Income and Net Interest Margin Trends Net Interest Income Highlights NIM, Yields, and Costs 9 Net Interest Income % change QoQ YoY 11.6% 24.1%

Government Guaranteed Loan Sales $86.0 million of guaranteed loans sold in 4Q22, compared to $75.4 million in 3Q22 Loans held for sale increased to $47.8 million in 4Q22 from $34.0 million in 3Q22 Non-interest income was $11.5 million, a decrease of $0.6 million from 3Q22 $3.5 million loan servicing asset revaluation charge due to higher discount rates Lower premiums resulting in a decrease in net gains on sales of loans Volume Sold and Average Net Premiums Non-Interest Income Trends ($ in millions) Total Non-Interest Income Highlights Net Gains on Sales of Loans 10

(1) Non-interest expenses increased to $50.5 million from $46.0 million in 3Q22, primarily attributable to: $2.2 million in higher salaries and employee benefits mainly due to increased incentive compensation expense $1.2 million increase in other non-interest expense, which includes a disposition in leasehold improvements Increase in loan and leases related expenses, mainly due to higher expenses associated with originations of government guaranteed loans Increase in legal, audit and other professional fees related to acquisition activities Efficiency ratio stood at 55.53% at 4Q22 Achieved positive operating leverage for FY22 despite inflationary environment Investing in the future while maintaining Expense Discipline Non-Interest Expense Trends ($ in millions) Non-Interest Expense Highlights Efficiency Ratio 11 Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix. Balancing continuous improvements and investing for growth Balancing physical branch presence with digital offerings Prudent and disciplined expense management to drive full-year positive operating leverage while investing for the future

Note: Delinquencies represent accruing loans and leases past due 30 days or more. Delinquencies to Total Loans and Leases represent delinquencies divided by period end loans and leases. Strong asset quality continues to reflect Byline’s prudent risk culture and diverse loan and lease portfolio Non-performing assets to total assets declined to 0.55% in 4Q22 from 0.64% in 3Q22 NPLs / total loans and leases decreased 13 bps to 0.66% in 4Q22 from 0.80% in 3Q22 NCOs / average loans and leases were 23 bps in 4Q22 Delinquencies Asset Quality Trends ($ in millions) Net Charge-offs Highlights NPLs / Total Loans & Leases 12 NCO Ratio bps change QoQ YoY 9 bps -14 bps

CECL Adoption ($ in thousands) 13 Excludes unfunded commitments. In addition to the cumulative adjustment to retained for loans and leases, there was also an adjustment for unfunded commitments of $1,179. CECL Adoption Change ACL - Loans and Leases Overall CECL Impact On December 31, 2022, the Company adopted Current Expected Credit Loss (CECL) Day 1 impacts: $12.2 million increase in reserves, reflecting a $3.1 million allocation to PCI loans transitioning to PCD. $1.6 million increase in reserves for unfunded commitments No Allowance for Credit Losses was allocated to Securities Held to Maturity Provision for credit losses on loans for Q4 was $5.4 million, driven by additional allocations for economic uncertainty related to the impact of higher interest rates on borrowers' debt service. The average quarterly unemployment rate used in Company's reasonable and supportable forecast increased by 12 basis points from prior period Provision for credit losses on unfunded commitments for Q4 was $426,000 resulting primarily from a higher unfunded balances on C&I loans The Company has opted into the regulators' joint CECL transition provision, which allows the Company to phase in the negative adjustment over three years beginning 1/1/2022 Impact of Adoption(1) January 1, 2022 Increase to allowance for originated loans $ 10,498 Decrease to allowance for PCD loans (38) Increase to allowance for acquired non-impaired loans 1,708 Income tax effect (3,250) Decrease to retained earning upon adoption(2) $ 8,918

CECL Adoption ($ in thousands) 14 CECL Adoption - Allocation by Loan Classification For Year Ended 2022 Commercial Real Estate Residential Real Estate Construction, Land Development and Other Commercial and Industrial Installment and Other Lease Financing Receivables Total Beginning balance $ 16,918 $ 1,628 $ 522 $ 33,129 $ 9 $ 2,806 $ 55,012 Impact of CECL Adoption 6,367 1,047 1,191 1,253 9 2,301 12,168 Provision (recapture) for credit losses(1) 5,252 907 1,476 12,002 (9) 3,046 22,674 Charge-offs (3,837) (1,208) (94) (5,377) (7) (1,472) (11,995) Recoveries 1,361 766 39 882 22 995 4,065 Ending balance $ 26,061 $ 3,140 $ 3,134 $ 41,889 $ 24 $ 7,676 $ 81,924 Allowance for Credit Losses for the Year ended December 31, 2022 Excludes unfunded commitments. ACL-to-Gross Loans – CECL vs. Incurred Loss ACL-to-Gross Loans by Loan Type 12/31/2021 Day 1 1/1/2022 12/31/2022 Commercial Real Estate 1.02% 1.40% 1.36% Residential Real Estate 0.34% 0.56% 0.64% Construction, Land Development and Other Land 0.16% 0.53% 0.71% Commercial and Industrial 1.94% 2.02% 2.04% Installment and Other 0.66% 1.32% 1.36% Lease Financing Receivables 0.78% 1.42% 1.46% Total 1.21% 1.48% 1.51%

The Company did not repurchase any shares during 4Q22 Declared common stock dividend of $0.09 per share in 4Q22 Dividend Yield: 1.59% FY22 Dividend payout ratio: 15.38% Continued focus on disciplined capital allocation and risk-adjusted returns (2) (1) $1.9 billion of available on balance sheet liquidity Cash and cash equivalents of $179.4 million Loans/Deposits essentially flat at 96.0% QoQ $1.4 billion investment portfolio (~99.7% AFS); duration: 5.5 years AOCI / TCE(1): ~19.4% $550 million of balance sheet hedges to protect market value risk Strong TCE/TA(1): 8.42% Capital Returns to Stockholders Strong Liquidity and Capital Position Capital Ratios Highlights Common Equity Tier 1 TCE excluding AOCI / TA(1): 9.90% Total Payout (Dividend & Share Rep.) 35.1% YTD 15 As reported prior to CECL adoption. Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix. Return on Average Tangible Common Equity

2023 Strategic Priorities and Near-Term Outlook Commercial banking strategy focused on organic loan and deposit growth Investing in digital capabilities and automation Opportunistic M&A and talent additions Maintain a strong balance sheet and capital flexibility Disciplined loan and deposit pricing Maintain credit discipline and strong asset quality 16

4Q22 Earnings Presentation Appendix

Five Quarter Financial Summary 18 Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix. As of or For the Three Months Ended Recast Recast Recast December 31, September 30, June 30, March 31, December 31, (dollars in thousands, except per share data) 2022 2022 2022 2022 2021 Income Statement Net interest income $ 76,604 $ 68,635 $ 61,760 $ 58,331 $ 61,728 Provision (recapture) for credit losses 5,826 7,208 4,286 6,559 (1,293) Non-interest income 11,455 12,043 14,273 19,543 19,014 Non-interest expense 50,500 46,041 43,585 43,956 58,968 Income before provision for income taxes 31,733 27,429 28,162 27,359 23,067 Provision for income taxes 7,366 7,020 6,382 5,961 5,878 Net income   24,367   20,409   21,780   21,398   17,189 Dividends on preferred shares — — — 196 196 Net income available to common stockholders   $ 24,367   $ 20,409   $ 21,780   $ 21,202   $ 16,993 Diluted earnings per common share(1)   $ 0.65   $ 0.55   $ 0.58   $ 0.56   $ 0.45 Balance Sheet Total loans and leases $ 5,421,258 $ 5,275,126 $ 5,167,716 $ 4,787,607 $ 4,537,128 Total deposits 5,695,121 5,612,456 5,388,377 5,530,102 5,155,047 Tangible common equity(1) 606,929 575,321 593,555 613,698 660,386 Balance Sheet Metrics Loans and leases / total deposits 96.03% 94.59% 96.23% 87.29% 89.26% Tangible common equity / tangible assets(1) 8.42% 8.25% 8.65% 9.36% 10.11% Key Performance Ratios Net interest margin 4.39% 4.03% 3.77% 3.78% 3.96% Efficiency ratio 55.53% 55.07% 54.87% 54.40% 71.03% Adjusted efficiency ratio(1) 54.50% 55.07% 54.87% 54.40% 55.61% Non-interest expense to average assets 2.76% 2.56% 2.51% 2.66% 3.49% Non-interest income to total revenues 13.01% 14.93% 18.77% 25.09% 23.55% Return on average assets 1.33% 1.13% 1.25% 1.30% 1.02% Adjusted return on average assets(1) 1.37% 1.13% 1.25% 1.30% 1.56% Pre-tax pre-provision return on  average assets (1) 2.05% 1.93% 1.87% 2.05% 1.28% Dividend payout ratio on common stock 13.85% 14.75% 16.67% 15.52% 20.00% Tangible book value per common share(1) $ 16.19 $ 15.67 $ 16.01 $ 16.52 $ 17.51

Non-GAAP Reconciliation 19 As of or For the Three Months Ended Recast Recast Recast   (dollars in thousands, except per share data) December 31, 2022 September30, 2022 June 30, 2022 March 31, 2022 December 31, 2021 Net income and earnings per share excluding significant items Reported Net Income $ 24,367 $ 20,409 $ 21,780 $ 21,398 $ 17,189 Significant items: Impairment charges on assets held for sale and ROU asset 372 — — — 12,449 Merger-related expenses 538 — — — — Tax benefit (118) — — — (3,377) Adjusted Net Income   $ 25,159   $ 20,409   $ 21,780   $ 21,398   $ 26,261 Reported Diluted Earnings per Share $ 0.65 $ 0.55 $ 0.58 $ 0.56 $ 0.45 Significant items: Impairment charges on assets held for sale and ROU asset 0.01 — — — 0.33 Merger-related expenses 0.01 — — — — Tax benefit — — — — (0.09) Adjusted Diluted Earnings per Share   $ 0.67   $ 0.55   $ 0.58   $ 0.56   $ 0.69

Non-GAAP Reconciliation (continued) 20 As of or For the Three Months Ended Recast Recast Recast   (dollars in thousands) December 31, 2022 September30, 2022 June 30, 2022 March 31, 2022 December 31, 2021 Adjusted non-interest expense: Non-interest expense $ 50,500 $ 46,041 $ 43,585 $ 43,956 $ 59,090 Less: Significant items Impairment charges on assets held for sale and ROU asset 372 — — — 12,449 Merger-related expenses 538 — — — — Adjusted non-interest expense   $ 49,590   $ 46,041   $ 43,585   $ 43,956   $ 46,641 Adjusted non-interest expense ex. amortization of intangible assets: Adjusted non-interest expense $ 49,590 $ 46,041 $ 43,585 $ 43,956 $ 46,641 Less: Amortization of intangible assets 1,596 1,611 1,868 1,596 1,738 Adjusted non-interest expense ex. amortization of intangible assets   $ 47,994   $ 44,430   $ 41,717   $ 42,360   $ 44,903 Pre-tax pre-provision net income: Pre-tax income $ 31,733 $ 27,429 $ 28,162 $ 27,359 $ 23,067 Add: Provision for loan and lease losses 5,826 7,208 4,286 6,559 (1,415) Pre-tax pre-provision net income   $ 37,559   $ 34,637   $ 32,448   $ 33,918   $ 21,652 Adjusted pre-tax pre-provision net income: Pre-tax pre-provision net income $ 37,559 $ 34,637 $ 32,448 $ 33,918 $ 21,652 Add: Impairment charges on assets held for sale and ROU asset 372 — — — 12,449 Add: Merger-related expenses 538 — — — — Adjusted pre-tax pre-provision net income   $ 38,469   $ 34,637   $ 32,448   $ 33,918   $ 34,101 Tax Equivalent Net Interest Income Net interest income $ 76,604 $ 68,635 $ 61,760 $ 58,331 $ 61,728 Add: Tax-equivalent adjustment 214 228 236 236 256 Net interest income, fully taxable equivalent   $ 76,818   $ 68,863   $ 61,996   $ 58,567   $ 61,984 Total revenues: Net interest income $ 76,604 $ 68,635 $ 61,760 $ 58,331 $ 61,728 Add: Non-interest income 11,455 12,043 14,273 19,543 19,014 Total revenues   $ 88,059   $ 80,678   $ 76,033   $ 77,874   $ 80,742

Non-GAAP Reconciliation (continued) 21 As of or For the Three Months Ended   Recast Recast Recast (dollars in thousands) December 31, 2022 September30, 2022 June 30, 2022 March 31, 2022 December 31, 2021 Tangible common stockholders' equity: Total stockholders' equity $ 765,816 $ 735,805 $ 755,649 $ 777,660 $ 836,382 Less: Preferred stock — — — — 10,438 Less: Goodwill and other intangibles 158,887 160,484 162,094 163,962 165,558 Tangible common stockholders' equity   $ 606,929   $ 575,321   $ 593,555   $ 613,698   $ 660,386 Tangible assets: Total assets $ 7,362,941 $ 7,267,277 $ 7,124,030 $ 6,825,458 $ 6,696,172 Less: Goodwill and other intangibles 158,887 160,484 162,094 163,962 165,558 Tangible assets   $ 7,204,054   $ 7,106,793   $ 6,961,936   $ 6,661,496   $ 6,530,614 Tangible assets, excluding accumulated other comprehensive loss: Tangible assets $ 7,204,054 $ 7,106,793 $ 6,961,936 $ 6,661,496 $ 6,530,614 Less: Accumulated other comprehensive loss (117,550) (124,898) (91,262) (56,388) (8,302) Tangible assets, excluding accumulated other comprehensive loss:   $ 7,321,604   $ 7,231,691   $ 7,053,198   $ 6,717,884   $ 6,538,916 Tangible common stockholders' equity, excluding accumulated other comprehensive loss Tangible common stockholders' equity $ 606,929 $ 575,321 $ 593,555 $ 613,698 $ 660,386 Less: Accumulated other comprehensive loss (117,550) (124,898) (91,262) (56,388) (8,302) Tangible common stockholders' equity, excluding accumulated other comprehensive loss   $ 724,479   $ 700,219   $ 684,817   $ 670,086   $ 668,688 Average tangible common stockholders' equity: Average total stockholders' equity $ 748,292 $ 765,821 $ 769,658 $ 822,053 $ 838,975 Less: Average preferred stock — — 9,974 10,438 Less: Average goodwill and other intangibles 159,680 161,292 163,068 164,837 166,396 Average tangible common stockholders' equity   $ 588,612   $ 604,529   $ 606,590   $ 647,242   $ 662,141 Average tangible assets: Average total assets $ 7,266,053 $ 7,137,472 $ 6,966,564 $ 6,697,476 $ 6,699,069 Less: Average goodwill and other intangibles 159,680 161,292 163,068 164,837 166,396 Average tangible assets   $ 7,106,373   $ 6,976,180   $ 6,803,496   $ 6,532,639   $ 6,532,673 Tangible net income available to common stockholders: Net income available to common stockholders $ 24,367 $ 20,409 $ 21,780 $ 21,202 $ 16,993 Add: After-tax intangible asset amortization 1,170 1,181 1,369 1,170 1,266 Tangible net income available to common stockholders   $ 25,537   $ 21,590   $ 23,149   $ 22,372   $ 18,259 Adjusted tangible net income available to common stockholders: Tangible net income available to common stockholders $ 25,537 $ 21,590 $ 23,149 $ 22,372 $ 18,259 Impairment charges on assets held for sale and ROU asset 372 — — — 12,449 Merger-related expenses 538 — — — — Tax benefit on significant items (118) — — — (3,377) Adjusted tangible net income available to common stockholders   $ 26,329   $ 21,590   $ 23,149   $ 22,372   $ 27,331

Non-GAAP Reconciliation (continued) 22 As of or For the Three Months Ended   Recast Recast Recast (dollars in thousands, except share and per share  data, ratios annualized, where applicable) December 31, 2022 September30, 2022 June 30, 2022 March 31, 2022 December 31, 2021 Pre-tax pre-provision return on average assets: Pre-tax pre-provision net income $ 37,559 $ 34,637 $ 32,448 $ 33,918 $ 21,652 Average total assets 7,266,053 7,137,472 6,966,564 6,697,476 6,699,069 Pre-tax pre-provision return on average assets   2.05%   1.93%   1.87%   2.05%   1.28% Adjusted pre-tax pre-provision return on average assets: Adjusted pre-tax pre-provision net income $ 38,469 $ 34,637 $ 32,448 $ 33,918 $ 34,101 Average total assets 7,266,053 7,137,472 6,966,564 6,697,476 6,699,069 Adjusted pre-tax pre-provision return on average assets   2.10%   1.93%   1.87%   2.05%   2.03% Net interest margin, fully taxable equivalent Net interest income, fully taxable equivalent $ 76,818 $ 68,863 $ 61,996 $ 58,567 $ 61,984 Total average interest-earning assets 6,922,890 6,763,916 6,572,416 6,252,866 6,189,762 Net interest margin, fully taxable equivalent   4.40%   4.04%   3.78%   3.80%   3.97% Non-interest income to total revenues: Non-interest income $ 11,455 $ 12,043 $ 14,273 $ 19,543 $ 19,014 Total revenues 88,059 80,678 76,033 77,874 80,742 Non-interest income to total revenues   13.01%   14.93%   18.77%   25.09%   23.55% Adjusted non-interest expense to average assets: Adjusted non-interest expense $ 49,590 $ 46,041 $ 43,585 $ 43,956 $ 46,641 Average total assets 7,266,053 7,137,472 6,966,564 6,697,476 6,699,069 Adjusted non-interest expense to average assets   2.71%   2.56%   2.51%   2.66%   2.76% Adjusted efficiency ratio: Adjusted non-interest expense excluding  amortization of intangible assets $ 47,994 $ 44,430 $ 41,717 $ 42,360 $ 44,903 Total revenues 88,059 80,678 76,033 77,874 80,742 Adjusted efficiency ratio   54.50%   55.07%   54.87%   54.40%   55.61% Adjusted return on average assets: Adjusted net income $ 25,159 $ 20,409 $ 21,780 $ 21,398 $ 26,261 Average total assets 7,266,053 7,137,472 6,966,564 6,697,476 6,699,069 Adjusted return on average assets   1.37%   1.13%   1.25%   1.30%   1.56% Adjusted return on average stockholders' equity: Adjusted net income $ 25,159 $ 20,409 $ 21,780 $ 21,398 $ 26,261 Average stockholders' equity 748,292 765,821 769,658 822,053 838,975 Adjusted return on average stockholders' equity 13.34% 10.57% 11.35% 10.56% 12.42%

Non-GAAP Reconciliation (continued) 23 As of or For the Three Months Ended   Recast Recast Recast   December 31, 2022 September30, 2022 June 30, 2022 March 31, 2022 December 31, 2021 Tangible common equity to tangible assets: Tangible common equity $ 606,929 $ 575,321 $ 593,555 $ 613,698 $ 660,386 Tangible assets 7,204,054 7,106,793 6,961,936 6,661,496 6,530,614 Tangible common equity to tangible assets   8.42%   8.25%   8.65%   9.36%   10.11% Tangible common stockholders' equity, excluding  accumulated other comprehensive loss to tangible assets,  excluding accumulated other comprehensive loss Tangible common stockholders' equity, excluding accumulated other comprehensive loss $ 724,479 $ 700,219 $ 684,817 $ 670,086 $ 668,688 Tangible assets, excluding accumulated other comprehensive loss: 7,321,604 7,231,691 7,053,198 6,717,884 6,538,916 Tangible common stockholders' equity, excluding  accumulated other comprehensive loss to tangible assets,  excluding accumulated other comprehensive loss   9.90%   9.68%   9.71%   9.97%   10.23% Return on average tangible common stockholders' equity: Tangible net income available to common stockholders $ 25,537 $ 21,590 $ 23,149 $ 22,372 $ 18,259 Average tangible common stockholders' equity 588,612 604,529 606,590 647,242 662,141 Return on average tangible common stockholders' equity   17.21%   14.17%   15.31%   14.02%   10.94% Adjusted return on average tangible common stockholders' equity: Adjusted tangible net income available to common stockholders $ 26,329 $ 21,590 $ 23,149 $ 22,372 $ 27,331 Average tangible common stockholders' equity 588,612 604,529 606,590 647,242 662,141 Adjusted return on average tangible common stockholders' equity   17.75%   14.17%   15.31%   14.02%   16.38% Tangible book value per share: Tangible common equity $ 606,929 $ 575,321 $ 593,555 $ 613,698 $ 660,386 Common shares outstanding 37,492,775 37,465,902 37,669,102 37,811,582 37,713,903 Tangible book value per share   $ 16.19   $ 15.67   $ 16.01   $ 16.52   $ 17.51 Accumulated other comprehensive loss to  tangible common equity: Accumulated other comprehensive loss $ 117,550 $ 124,898 $ 91,262 $ 56,388 $ 8,302 Tangible common equity 606,929 575,321 593,555 613,698 660,386 Accumulated other comprehensive loss to tangible common equity   19.4%   21.7%   15.4%   9.2%   1.3%