Byline Bancorp, Inc. Reports Second Quarter 2025 Financial Results

Company Release - 7/24/2025 Second quarter net income of $30.1 million, $0.66 diluted earnings per share Byline Bancorp, Inc. (NYSE: BY), today reported: At or for the quarter Second Quarter Highlights (compared to 1Q25 unless specified) 2Q25 1Q25 2Q24 Financial Results ($ in thousands) • Completed the acquisition and integration of First Security Bancorp, Inc. Net interest income $ 95,970 $ 88,216 $ 86,526 Non-interest income 14,483 14,864 12,844 Total revenue(1) 110,453 103,080 99,370 • Adjusted net income(1) of $33.8 million, or $0.75 per adjusted diluted share(1) Non-interest expense (NIE) 59,602 56,429 53,210 Pre-tax pre-provision net income (PTPP)(1) 50,851 46,651 46,160 Provision for credit losses 11,923 9,179 6,045 • PTPP ROAA of 2.12%(1), 11th consecutive quarter greater than 2.00% Provision for income taxes 8,846 9,224 10,444 Net income $ 30,082 $ 28,248 $ 29,671 • TBV per common share of $21.56(1), up 3.1% Per Share Diluted earnings per share (EPS) $ 0.66 $ 0.64 $ 0.68 • Repurchased 543,599 common shares Dividends declared per common share 0.10 0.10 0.09 Book value per common share 26.00 25.32 23.38 Income Statement Tangible book value per common share(1) 21.56 20.91 18.84 • Net interest income of $96.0 million, an increase of $7.8 million, or 8.8% Balance Sheet & Credit Quality ($ in thousands) Total deposits $ 7,810,479 $ 7,553,308 $ 7,347,181 • NIM expanded 11 bps to 4.18% Total loans and leases 7,353,869 7,047,170 6,904,564 Net charge-offs 7,656 6,644 9,514 • Adjusted efficiency ratio(1) of 48.20% Allowance for credit losses (ACL) 107,727 100,420 99,730 ACL to total loans and leases held for investment 1.47 % 1.43 % 1.45 % Balance Sheet • Total assets of $9.7 billion Select Ratios (annualized where applicable) Efficiency ratio(1) 52.61 % 53.66 % 52.19 % • Total loans and leases grew $306.7 million, or 17.5%(2) Return on average assets (ROAA) 1.25 % 1.25 % 1.31 % Return on average stockholders' equity 10.24 % 10.32 % 11.83 % Return on average tangible common equity(1) 12.83 % 12.92 % 15.27 % • Total deposits grew $257.2 million, or 13.7%(2) Net interest margin (NIM) 4.18 % 4.07 % 3.98 % Common equity to total assets 12.27 % 11.80 % 10.72 % • TCE/TA of 10.39%(1), increase of 44 bps Tangible common equity to tangible assets(1) 10.39 % 9.95 % 8.82 % Common equity tier 1 11.85 % 11.78 % 10.84 % • CET 1 of 11.85%, up seven bps CEO/President Commentary Roberto R. Herencia, Executive Chairman and CEO of Byline Bancorp, commented, "We are pleased with our overall strategic execution for the first half of the year as we successfully completed the acquisition of First Security Bancorp, which we believe has strengthened the return profile of Byline. We believe that our position in the market remains strong and continue to be driven by our objective of becoming the preeminent commercial bank in Chicago." Alberto J. Paracchini, President of Byline Bancorp, added, "Our performance for the quarter demonstrates the momentum and strength of our long-term strategies and the consistency of our execution. Our adjusted second quarter results were highlighted by solid earnings, strong profitability, net interest margin expansion, healthy growth in loans and deposits, and controlled expenses. Our business units continued to perform well, and we have good momentum heading into the second half of the year." (1) Represents non-GAAP financial measures. See “Reconciliation of non-GAAP Financial Measures” for a reconciliation to the most directly comparable GAAP financial measure. (2) Annualized. Board Declares Cash Dividend of $0.10 per Share On July 22, 2025, the Company's Board of Directors declared a cash dividend of $0.10 per share. The dividend will be paid on August 19, 2025, to stockholders of record of the Company's common stock as of August 5, 2025. STATEMENTS OF OPERATIONS HIGHLIGHTS Net Interest Income Net interest income for the second quarter of 2025 was $96.0 million, an increase of $7.8 million, or 8.8%, from the first quarter of 2025. The increase in net interest income was primarily due to higher interest income due to growth in the loan and lease portfolio, primarily due to our acquisition of First Security Bancorp, Inc. and its wholly owned bank subsidiary, First Security Trust and Savings Bank (the "First Security acquisition"), and higher yields on taxable securities, offset by higher interest expense mainly due to deposit growth, primarily due to the First Security acquisition. Tax-equivalent net interest margin(1) for the second quarter of 2025 was 4.19%, an increase of 11 basis points compared to the first quarter of 2025. The increase was primarily due to higher yields on securities and cash and cash equivalents, and lower costs of borrowings. Net loan accretion income positively contributed 13 basis points to the net interest margin for the current quarter, a one basis point increase over the prior quarter. The average cost of total deposits was 2.27% for the second quarter of 2025, a decrease of three basis points compared to the first quarter of 2025, mainly as a result of a shift in the interest-bearing deposit mix and increases in the amount of non-interest bearing deposits, both primarily due to the First Security acquisition. Provision for Credit Losses The provision for credit losses was $11.9 million for the second quarter of 2025, an increase of $2.7 million compared to $9.2 million for the first quarter of 2025, mainly due to additional allocation on individually assessed loans, growth in the loan and lease portfolio, and weaker macroeconomic forecast. Non-interest Income Non-interest income for the second quarter of 2025 was $14.5 million, a decrease of $381,000, or 2.6%, compared to $14.9 million for the first quarter of 2025. The decrease in total non-interest income was primarily due to a larger downward revaluation of the loan servicing asset and a lower gain on the change in fair value of equity securities, net. These were offset by higher other non-interest income mainly related to an increase in swap activity, and higher net gains on sales of loans. Net gains on sales of loans were $5.4 million for the current quarter, an increase of $476,000, or 9.7% compared to the prior quarter. During the second quarter of 2025, we sold $73.0 million of U.S. government guaranteed loans compared to $70.2 million during the first quarter of 2025. Non-interest Expense Non-interest expense for the second quarter of 2025 was $59.6 million, an increase of $3.2 million, or 5.6%, compared to $56.4 million for the first quarter of 2025. The increase in non-interest expense was mainly due to a $1.6 million increase in salaries and employee benefits mainly due to the First Security acquisition and a $1.6 million increase in legal, audit and other professional fees driven by the First Security acquisition and a secondary public offering of shares of our common stock in June 2025. Our efficiency ratio was 52.61%(1) for the second quarter of 2025, compared to 53.66%(1) for the first quarter of 2025, an improvement of 105 basis points. Our adjusted efficiency ratio was 48.20%(1) for the second quarter of 2025, compared to 53.04%(1) for the first quarter of 2025, an improvement of 484 basis points. The improvement in the efficiency ratio was primarily driven by increases in net interest income. Income Taxes We recorded income tax expense of $8.8 million during the second quarter of 2025, compared to $9.2 million during the first quarter of 2025. The effective tax rates were 22.7% and 24.6% for the second quarter of 2025 and first quarter of 2025, respectively. The decrease in the effective tax rate was due to higher income tax benefits related to share-based compensation recorded in the second quarter. STATEMENTS OF FINANCIAL CONDITION HIGHLIGHTS Assets Total assets were $9.7 billion as of June 30, 2025, an increase of $135.5 million, or 1.4%, compared to $9.6 billion at March 31, 2025. The increase for the current quarter was mainly due to an increase in net loans and leases of $294.9 million driven by increases to the commercial and industrial and commercial real estate loan portfolios from the First Security acquisition, and an increase in securities available-for-sale of $37.1 million, also primarily from the First Security acquisition. These were offset by a decrease in cash and cash equivalents of $203.0 million, mainly due to repayment of FHLB borrowings. Allowance for Credit Losses The ACL was $107.7 million as of June 30, 2025, an increase of $7.3 million, or 7.3%, from $100.4 million at March 31, 2025, due to the growth in the loan and lease portfolio and from the First Security acquisition. As result of the acquisition, the allowance for credit losses attributable to purchased credit deteriorated ("PCD") loans and non-credit-deteriorated loans increased $3.2 million and $864,000, respectively. Net charge-offs of loans and leases during the second quarter of 2025 were $7.7 million, or 0.43% of average loans and leases, on an annualized basis. This was an increase of $1.0 million compared to net charge-offs of $6.6 million, or 0.39% of average loans and leases, during the first quarter of 2025. The increase in charge-offs for the quarter was primarily due to a single PCD charge-off and increases related to the unguaranteed portion of government guaranteed loans. Asset Quality Non-performing assets were $72.5 million, or 0.75% of total assets, as of June 30, 2025, an increase of $12.6 million from $59.9 million, or 0.62% of total assets, at March 31, 2025. The increase was primarily driven by one commercial and industrial relationship and one commercial real estate relationship. The government guaranteed portion of non-performing loans included in non-performing assets was $8.8 million at June 30, 2025, compared to $9.4 million at March 31, 2025, a decrease of $605,000. Deposits and Other Liabilities Total deposits increased $257.2 million to $7.8 billion at June 30, 2025 compared to $7.6 billion at March 31, 2025. The increase in deposits in the current quarter was mainly due to increases in money market accounts and non-interest-bearing demand accounts, both due to deposit shift and from the First Security acquisition, offset by decreases to time deposits mainly due to decreased brokered time deposits. Total borrowings and other liabilities were $717.3 million at June 30, 2025, a decrease of $183.0 million from $900.3 million at March 31, 2025. The decrease was primarily driven by decreased Federal Home Loan Bank advances due to lower liquidity needs. Stockholders’ Equity Total stockholders’ equity was $1.2 billion at June 30, 2025, an increase of $61.3 million, or 5.4%, from March 31, 2025, primarily due to the issuance of common stock related to the acquisition of First Security, and from an increase in retained earnings. During the second quarter of 2025, we purchased 543,599 shares of our common stock under our share repurchase program, at an average price of $24.09 per share. Conference Call, Webcast and Slide Presentation We will host a conference call and webcast at 9:00 a.m. Central Time on Friday, July 25, 2025, 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 (833) 470-1428; passcode 014057. A recorded replay can be accessed through August 8, 2025, by dialing (866) 813-9403; passcode: 590803. A slide presentation relating to our second quarter 2025 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 $9.7 billion in assets and operates 45 branch locations throughout the Chicago and Milwaukee metropolitan areas. Byline Bank offers a broad range of commercial and community 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 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, 2024. 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. BYLINE BANCORP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (unaudited) June 30, March 31, June 30, (dollars in thousands) 2025 2025 2024 ASSETS Cash and due from banks $ 75,114 $ 73,453 $ 68,251 Interest bearing deposits with other banks 143,236 347,861 662,206 Cash and cash equivalents 218,350 421,314 730,457 Equity and other securities, at fair value 10,759 10,675 8,745 Securities available-for-sale, at fair value 1,575,240 1,538,100 1,386,827 Securities held-to-maturity, at amortized cost — — 606 Restricted stock, at cost 18,649 26,311 31,775 Loans held for sale 25,814 21,333 13,360 Loans and leases: Loans and leases 7,328,055 7,025,837 6,891,204 Allowance for credit losses - loans and leases (107,727 ) (100,420 ) (99,730 ) Net loans and leases 7,220,328 6,925,417 6,791,474 Servicing assets, at fair value 18,797 19,571 19,617 Premises and equipment, net 59,544 59,568 63,919 Other real estate owned, net 4,946 6,249 780 Goodwill and other intangible assets, net 203,508 196,980 200,788 Bank-owned life insurance 105,714 100,988 98,519 Deferred tax assets, net 57,104 50,703 48,888 Accrued interest receivable and other assets 201,465 207,523 238,060 Total assets $ 9,720,218 $ 9,584,732 $ 9,633,815 LIABILITIES AND STOCKHOLDERS’ EQUITY LIABILITIES Non-interest-bearing demand deposits $ 1,773,229 $ 1,715,599 $ 1,762,891 Interest-bearing deposits 6,037,250 5,837,709 5,584,290 Total deposits 7,810,479 7,553,308 7,347,181 Other borrowings 414,110 578,244 918,738 Subordinated notes, net 74,127 74,084 73,953 Junior subordinated debentures issued to capital trusts, net 71,136 71,000 70,675 Accrued expenses and other liabilities 157,950 177,018 190,254 Total liabilities 8,527,802 8,453,654 8,600,801 STOCKHOLDERS’ EQUITY Common stock 471 455 452 Additional paid-in capital 756,029 713,086 710,792 Retained earnings 583,170 557,704 481,232 Treasury stock (57,015 ) (43,783 ) (47,993 ) Accumulated other comprehensive loss, net of tax (90,239 ) (96,384 ) (111,469 ) Total stockholders’ equity 1,192,416 1,131,078 1,033,014 Total liabilities and stockholders’ equity $ 9,720,218 $ 9,584,732 $ 9,633,815 BYLINE BANCORP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) Three Months Ended (dollars in thousands, June 30, March 31, June 30, except per share data) 2025 2025 2024 INTEREST AND DIVIDEND INCOME Interest and fees on loans and leases $ 128,199 $ 121,230 $ 126,523 Interest on securities 13,907 12,127 10,514 Other interest and dividend income 2,421 1,493 4,532 Total interest and dividend income 144,527 134,850 141,569 INTEREST EXPENSE Deposits 44,380 42,049 47,603 Other borrowings 1,396 1,835 4,460 Subordinated notes and debentures 2,781 2,750 2,980 Total interest expense 48,557 46,634 55,043 Net interest income 95,970 88,216 86,526 PROVISION FOR CREDIT LOSSES 11,923 9,179 6,045 Net interest income after provision for credit losses 84,047 79,037 80,481 NON-INTEREST INCOME Fees and service charges on deposits 2,633 2,703 2,548 Loan servicing revenue 3,071 3,043 3,216 Loan servicing asset revaluation (2,150 ) (1,051 ) (2,468 ) ATM and interchange fees 1,059 1,034 1,163 Net losses on sales of securities available-for-sale (37 ) — — Change in fair value of equity securities, net 83 811 (390 ) Net gains on sales of loans 5,414 4,938 6,036 Wealth management and trust income 1,074 1,082 942 Other non-interest income 3,336 2,304 1,797 Total non-interest income 14,483 14,864 12,844 NON-INTEREST EXPENSE Salaries and employee benefits 37,819 36,252 33,911 Occupancy and equipment expense, net 4,739 4,852 4,639 Loan and lease related expenses 938 827 741 Legal, audit, and other professional fees 4,843 3,251 3,708 Data processing 4,986 5,171 4,036 Net (gain) loss recognized on other real estate owned and other related expenses (44 ) 42 (62 ) Other intangible assets amortization expense 1,499 1,118 1,345 Other non-interest expense 4,822 4,916 4,892 Total non-interest expense 59,602 56,429 53,210 INCOME BEFORE PROVISION FOR INCOME TAXES 38,928 37,472 40,115 PROVISION FOR INCOME TAXES 8,846 9,224 10,444 NET INCOME $ 30,082 $ 28,248 $ 29,671 EARNINGS PER COMMON SHARE Basic $ 0.66 $ 0.65 $ 0.68 Diluted $ 0.66 $ 0.64 $ 0.68 BYLINE BANCORP, INC. AND SUBSIDIARIES SELECTED FINANCIAL DATA (unaudited) As of or For the Three Months Ended (dollars in thousands, except share June 30, March 31, June 30, and per share data) 2025 2025 2024 Earnings per Common Share Basic earnings per common share $ 0.66 $ 0.65 $ 0.68 Diluted earnings per common share $ 0.66 $ 0.64 $ 0.68 Adjusted diluted earnings per common share(1)(3) $ 0.75 $ 0.65 $ 0.68 Weighted average common shares outstanding (basic) 45,306,240 43,788,353 43,361,516 Weighted average common shares outstanding (diluted) 45,484,392 44,290,257 43,741,840 Common shares outstanding 45,866,649 44,675,553 44,180,829 Cash dividends per common share $ 0.10 $ 0.10 $ 0.09 Dividend payout ratio on common stock 15.15 % 15.63 % 13.24 % Book value per common share $ 26.00 $ 25.32 $ 23.38 Tangible book value per common share(1) $ 21.56 $ 20.91 $ 18.84 Key Ratios and Performance Metrics (annualized where applicable) Net interest margin 4.18 % 4.07 % 3.98 % Net interest margin, fully taxable equivalent(1)(4) 4.19 % 4.08 % 3.99 % Average cost of deposits 2.27 % 2.30 % 2.63 % Efficiency ratio(1)(2) 52.61 % 53.66 % 52.19 % Adjusted efficiency ratio(1)(2)(3) 48.20 % 53.04 % 52.19 % Non-interest income to total revenues(1) 13.11 % 14.42 % 12.93 % Non-interest expense to average assets 2.48 % 2.49 % 2.34 % Adjusted non-interest expense to average assets(1)(3) 2.28 % 2.46 % 2.34 % Return on average stockholders' equity 10.24 % 10.32 % 11.83 % Adjusted return on average stockholders' equity(1)(3) 11.51 % 10.50 % 11.83 % Return on average assets 1.25 % 1.25 % 1.31 % Adjusted return on average assets(1)(3) 1.41 % 1.27 % 1.31 % Pre-tax pre-provision return on average assets(1) 2.12 % 2.06 % 2.03 % Adjusted pre-tax pre-provision return on average assets(1)(3) 2.32 % 2.09 % 2.03 % Return on average tangible common stockholders' equity(1) 12.83 % 12.92 % 15.27 % Adjusted return on average tangible common stockholders' equity(1)(3) 14.37 % 13.14 % 15.27 % Non-interest-bearing deposits to total deposits 22.70 % 22.71 % 23.99 % Loans and leases held for sale and loans and lease held for investment to total deposits 94.15 % 93.30 % 93.98 % Deposits to total liabilities 91.59 % 89.35 % 85.42 % Deposits per branch $ 173,566 $ 164,202 $ 159,721 Asset Quality Ratios Non-performing loans and leases to total loans and leases held for investment, net before ACL 0.92 % 0.76 % 0.93 % Total non-performing assets as a percentage of total assets 0.75 % 0.62 % 0.67 % ACL to total loans and leases held for investment, net before ACL 1.47 % 1.43 % 1.45 % Net charge-offs to average total loans and leases held for investment, net before ACL - loans and leases 0.43 % 0.39 % 0.56 % Capital Ratios Common equity to total assets 12.27 % 11.80 % 10.72 % Tangible common equity to tangible assets(1) 10.39 % 9.95 % 8.82 % Leverage ratio 11.92 % 11.98 % 11.08 % Common equity tier 1 capital ratio 11.85 % 11.78 % 10.84 % Tier 1 capital ratio 12.83 % 12.80 % 11.86 % Total capital ratio 14.87 % 14.86 % 13.86 % (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 merger-related expenses and expenses related to the secondary public offering of common stock. (4) 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%. BYLINE BANCORP, INC. AND SUBSIDIARIES QUARTER-TO-DATE STATEMENT OF AVERAGE INTEREST-EARNING ASSETS AND AVERAGE INTEREST-BEARING LIABILITIES (unaudited) For the Three Months Ended June 30, 2025 March 31, 2025 June 30, 2024 (dollars in thousands) Average Balance(5) Interest Inc / Exp Avg. Yield / Rate Average Balance(5) Interest Inc / Exp Avg. Yield / Rate Average Balance(5) Interest Inc / Exp Avg. Yield / Rate ASSETS Cash and cash equivalents $ 182,140 $ 1,655 3.64 % $ 134,032 $ 1,012 3.06 % $ 305,873 $ 3,315 4.36 % Loans and leases(1) 7,220,834 128,199 7.12 % 6,935,790 121,230 7.09 % 6,807,934 126,523 7.47 % Taxable securities 1,650,463 13,806 3.36 % 1,560,861 11,745 3.05 % 1,473,000 10,869 2.97 % Tax-exempt securities(2) 154,719 1,098 2.85 % 154,936 1,091 2.86 % 156,655 1,091 2.80 % Total interest-earning assets $ 9,208,156 $ 144,758 6.31 % $ 8,785,619 $ 135,078 6.24 % $ 8,743,462 $ 141,798 6.52 % Allowance for credit losses - loans and leases (106,278 ) (99,513 ) (103,266 ) All other assets 531,939 500,659 500,540 TOTAL ASSETS $ 9,633,817 $ 9,186,765 $ 9,140,736 LIABILITIES AND STOCKHOLDERS’ EQUITY Deposits Interest checking $ 820,341 $ 3,551 1.74 % $ 765,919 $ 3,262 1.73 % $ 717,513 $ 4,096 2.30 % Money market accounts 2,905,465 22,749 3.14 % 2,606,907 19,618 3.05 % 2,270,231 19,978 3.54 % Savings 506,874 139 0.11 % 484,708 126 0.11 % 514,192 194 0.15 % Time deposits 1,810,909 17,941 3.97 % 1,822,305 19,043 4.24 % 1,951,448 23,335 4.81 % Total interest-bearing deposits 6,043,589 44,380 2.95 % 5,679,839 42,049 3.00 % 5,453,384 47,603 3.51 % Other borrowings 298,916 1,396 1.87 % 338,141 1,835 2.20 % 521,545 4,439 3.42 % Federal funds purchased — — — — — — 1,401 21 6.05 % Subordinated notes and debentures 145,175 2,781 7.68 % 145,018 2,750 7.69 % 144,548 2,980 8.29 % Total borrowings 444,091 4,177 3.77 % 483,159 4,585 3.85 % 667,494 7,440 4.48 % Total interest-bearing liabilities $ 6,487,680 $ 48,557 3.00 % $ 6,162,998 $ 46,634 3.07 % $ 6,120,878 $ 55,043 3.62 % Non-interest-bearing demand deposits 1,802,639 1,730,340 1,817,133 Other liabilities 164,944 183,259 193,923 Total stockholders’ equity 1,178,554 1,110,168 1,008,802 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 9,633,817 $ 9,186,765 $ 9,140,736 Net interest spread(3) 3.31 % 3.17 % 2.90 % Net interest income, fully taxable equivalent $ 96,201 $ 88,444 $ 86,755 Net interest margin, fully taxable equivalent(2)(4) 4.19 % 4.08 % 3.99 % Less: Tax-equivalent adjustment 231 0.01 % 228 0.01 % 229 0.01 % Net interest income $ 95,970 $ 88,216 $ 86,526 Net interest margin(4) 4.18 % 4.07 % 3.98 % Net loan accretion impact on margin $ 2,978 0.13 % $ 2,595 0.12 % $ 3,656 0.17 % (1) Loan and lease balances are net of deferred origination fees and costs and initial direct 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. AND SUBSIDIARIES SELECTED BALANCE SHEET TABLES AND FINANCIAL RATIOS (unaudited) The following table presents our allocation of originated, purchased credit deteriorated (PCD), and acquired non-credit-deteriorated loans and leases at the dates indicated: June 30, 2025 March 31, 2025 June 30, 2024 (dollars in thousands) Amount % of Total Amount % of Total Amount % of Total Originated loans and leases: Commercial real estate $ 2,184,187 29.8 % $ 2,106,856 30.0 % $ 1,924,797 27.9 % Residential real estate 534,062 7.3 % 528,387 7.5 % 498,578 7.2 % Construction, land development, and other land 416,118 5.6 % 419,892 6.0 % 445,919 6.5 % Commercial and industrial 2,737,054 37.4 % 2,629,358 37.4 % 2,493,229 36.2 % Installment and other 2,984 0.0 % 2,015 0.0 % 2,576 0.0 % Leasing financing receivables 731,610 10.0 % 718,666 10.2 % 710,784 10.3 % Total originated loans and leases $ 6,606,015 90.1 % $ 6,405,174 91.1 % $ 6,075,883 88.1 % Purchased credit deteriorated loans: Commercial real estate $ 84,747 1.2 % $ 78,425 1.1 % $ 114,053 1.7 % Residential real estate 27,076 0.4 % 28,353 0.4 % 40,728 0.6 % Construction, land development, and other land 2,487 0.0 % — — 9 0.0 % Commercial and industrial 17,428 0.2 % 13,337 0.2 % 17,796 0.3 % Installment and other 86 0.0 % 94 0.0 % 116 0.0 % Total purchased credit deteriorated loans $ 131,824 1.8 % $ 120,209 1.7 % $ 172,702 2.6 % Acquired non-credit-deteriorated loans and leases: Commercial real estate $ 224,442 3.1 % $ 186,342 2.7 % $ 254,858 3.7 % Residential real estate 172,570 2.4 % 170,656 2.4 % 188,489 2.7 % Construction, land development, and other land 61,897 0.8 % 61,204 0.9 % 84,849 1.2 % Commercial and industrial 113,609 1.6 % 82,238 1.2 % 113,997 1.7 % Installment and other 17,698 0.2 % 9 0.0 % 153 0.0 % Leasing financing receivables — — 5 0.0 % 273 0.0 % Total acquired non-credit-deteriorated loans and leases $ 590,216 8.1 % $ 500,454 7.2 % $ 642,619 9.3 % Total loans and leases $ 7,328,055 100.0 % $ 7,025,837 100.0 % $ 6,891,204 100.0 % Allowance for credit losses - loans and leases (107,727 ) (100,420 ) (99,730 ) Total loans and leases, net of allowance for credit losses - loans and leases $ 7,220,328 $ 6,925,417 $ 6,791,474 The following table presents the balance and activity within the allowance for credit losses - loans and lease for the periods indicated: Three Months Ended June 30, March 31, June 30, (dollars in thousands) 2025 2025 2024 ACL - loans and leases, beginning of period $ 100,420 $ 97,988 $ 102,366 Adjustment for acquired PCD loans 3,206 — — Provision for credit losses - loans and leases 11,757 9,076 6,878 Net charge-offs - loans and leases (7,656 ) (6,644 ) (9,514 ) ACL - loans and leases, end of period $ 107,727 $ 100,420 $ 99,730 Net charge-offs - loans and leases to average total loans and leases held for investment, net before ACL 0.43 % 0.39 % 0.56 % Provision for credit losses - loans and leases to net charge-offs - loans and leases during the period 1.54x 1.37x 0.72x BYLINE BANCORP, INC. AND SUBSIDIARIES SELECTED BALANCE SHEET TABLES AND FINANCIAL RATIOS (unaudited) The following table presents the amounts of non-performing loans and leases and other real estate owned at the date indicated: June 30, 2025 Change from (dollars in thousands) June 30, 2025 March 31, 2025 June 30, 2024 March 31, 2025 June 30, 2024 Non-performing assets: Non-accrual loans and leases $ 67,553 $ 53,619 $ 63,808 26.0 % 5.9 % Past due loans and leases 90 days or more and still accruing interest — — — —% —% Total non-performing loans and leases $ 67,553 $ 53,619 $ 63,808 26.0 % 5.9 % Other real estate owned 4,946 6,249 780 (20.8 )% 533.9 % Total non-performing assets $ 72,499 $ 59,868 $ 64,588 21.1 % 12.2 % Total non-performing loans and leases as a percentage of total loans and leases 0.92 % 0.76 % 0.93 % Total non-performing assets as a percentage of total assets 0.75 % 0.62 % 0.67 % Allowance for credit losses - loans and leases as a percentage of non-performing loans and leases 159.47 % 187.28 % 156.30 % Non-performing assets guaranteed by U.S. government: Non-accrual loans guaranteed $ 8,819 $ 9,424 $ 6,616 (6.4 )% 33.3 % Past due loans 90 days or more and still accruing interest guaranteed — — — —% —% Total non-performing loans guaranteed $ 8,819 $ 9,424 $ 6,616 (6.4 )% 33.3 % Total non-performing loans and leases not guaranteed as a percentage of total loans and leases 0.80 % 0.63 % 0.83 % Total non-performing assets not guaranteed as a percentage of total assets 0.66 % 0.53 % 0.60 % The following table presents the composition of deposits at the dates indicated: June 30, 2025 Change from (dollars in thousands) June 30, 2025 March 31, 2025 June 30, 2024 March 31, 2025 June 30, 2024 Non-interest-bearing demand deposits $ 1,773,229 $ 1,715,599 $ 1,762,891 3.4 % 0.6 % Interest-bearing checking accounts 857,460 840,435 717,229 2.0 % 19.6 % Money market demand accounts 2,996,684 2,759,185 2,323,245 8.6 % 29.0 % Other savings 501,020 483,075 503,935 3.7 % (0.6 )% Time deposits (below $250,000) 1,216,990 1,326,418 1,610,308 (8.2 )% (24.4 )% Time deposits ($250,000 and above) 465,096 428,596 429,573 8.5 % 8.3 % Total deposits $ 7,810,479 $ 7,553,308 $ 7,347,181 3.4 % 6.3 % 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 non-interest expense, adjusted non-interest expense excluding amortization of intangible assets, adjusted efficiency ratio, adjusted non-interest expense to average assets, tax equivalent net interest income, 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 net income, adjusted pre-tax pre-provision net income, pre-tax pre-provision return on average assets, adjusted pre-tax pre-provision return on average assets, tangible common equity, tangible assets, tangible net income available to common stockholders, adjusted tangible net income available to common stockholders, 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 June 30, March 31, June 30, (dollars in thousands, except per share data) 2025 2025 2024 Net income and earnings per share excluding significant items: Reported Net Income $ 30,082 $ 28,248 $ 29,671 Significant items: Merger-related expenses 4,450 637 — Secondary public offering of common stock expenses 413 — — Tax benefit (1,117 ) (134 ) — Adjusted Net Income $ 33,828 $ 28,751 $ 29,671 Reported Diluted Earnings per Share $ 0.66 $ 0.64 $ 0.68 Significant items: Merger-related expenses 0.10 0.01 — Secondary public offering of common stock expenses 0.01 — — Tax benefit (0.02 ) — — Adjusted Diluted Earnings per Share $ 0.75 $ 0.65 $ 0.68 BYLINE BANCORP, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (continued) (unaudited) As of or For the Three Months Ended (dollars in thousands, except per share data, June 30, March 31, June 30, ratios annualized, where applicable) 2025 2025 2024 Adjusted non-interest expense: Non-interest expense $ 59,602 $ 56,429 $ 53,210 Less: Merger-related expenses 4,450 637 — Less: Secondary public offering of common stock expenses 413 — — Adjusted non-interest expense $ 54,739 $ 55,792 $ 53,210 Adjusted non-interest expense excluding amortization of intangible assets: Adjusted non-interest expense $ 54,739 $ 55,792 $ 53,210 Less: Amortization of intangible assets 1,499 1,118 1,345 Adjusted non-interest expense excluding amortization of intangible assets $ 53,240 $ 54,674 $ 51,865 Pre-tax pre-provision net income: Pre-tax income $ 38,928 $ 37,472 $ 40,115 Add: Provision for credit losses 11,923 9,179 6,045 Pre-tax pre-provision net income $ 50,851 $ 46,651 $ 46,160 Adjusted pre-tax pre-provision net income: Pre-tax pre-provision net income $ 50,851 $ 46,651 $ 46,160 Add: Merger-related expenses 4,450 637 — Add: Secondary public offering of common stock expenses 413 — — Adjusted pre-tax pre-provision net income $ 55,714 $ 47,288 $ 46,160 Tax equivalent net interest income: Net interest income $ 95,970 $ 88,216 $ 86,526 Add: Tax-equivalent adjustment 231 228 229 Net interest income, fully taxable equivalent $ 96,201 $ 88,444 $ 86,755 Total revenue: Net interest income $ 95,970 $ 88,216 $ 86,526 Add: Non-interest income 14,483 14,864 12,844 Total revenue $ 110,453 $ 103,080 $ 99,370 Tangible common stockholders' equity: Total stockholders' equity $ 1,192,416 $ 1,131,078 $ 1,033,014 Less: Goodwill and other intangibles 203,508 196,980 200,788 Tangible common stockholders' equity $ 988,908 $ 934,098 $ 832,226 Tangible assets: Total assets $ 9,720,218 $ 9,584,732 $ 9,633,815 Less: Goodwill and other intangibles 203,508 196,980 200,788 Tangible assets $ 9,516,710 $ 9,387,752 $ 9,433,027 Average tangible common stockholders' equity: Average total stockholders' equity $ 1,178,554 $ 1,110,168 $ 1,008,802 Less: Average goodwill and other intangibles 203,767 197,514 201,428 Average tangible common stockholders' equity $ 974,787 $ 912,654 $ 807,374 Average tangible assets: Average total assets $ 9,633,817 $ 9,186,765 $ 9,140,736 Less: Average goodwill and other intangibles 203,767 197,514 201,428 Average tangible assets $ 9,430,050 $ 8,989,251 $ 8,939,308 Tangible net income available to common stockholders: Net income available to common stockholders $ 30,082 $ 28,248 $ 29,671 Add: After-tax intangible asset amortization 1,107 826 987 Tangible net income available to common stockholders $ 31,189 $ 29,074 $ 30,658 Adjusted tangible net income available to common stockholders: Tangible net income available to common stockholders $ 31,189 $ 29,074 $ 30,658 Add: Merger-related expenses 4,450 637 — Add: Secondary public offering of common stock expenses 413 — — Add: Tax benefit on significant items (1,117 ) (134 ) — Adjusted tangible net income available to common stockholders $ 34,935 $ 29,577 $ 30,658 BYLINE BANCORP, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (continued) (unaudited) As of or For the Three Months Ended (dollars in thousands, except share and per share June 30, March 31, June 30, data, ratios annualized, where applicable) 2025 2025 2024 Pre-tax pre-provision return on average assets: Pre-tax pre-provision net income $ 50,851 $ 46,651 $ 46,160 Average total assets 9,633,817 9,186,765 9,140,736 Pre-tax pre-provision return on average assets 2.12 % 2.06 % 2.03 % Adjusted pre-tax pre-provision return on average assets: Adjusted pre-tax pre-provision net income $ 55,714 $ 47,288 $ 46,160 Average total assets 9,633,817 9,186,765 9,140,736 Adjusted pre-tax pre-provision return on average assets 2.32 % 2.09 % 2.03 % Net interest margin, fully taxable equivalent: Net interest income, fully taxable equivalent $ 96,201 $ 88,444 $ 86,755 Total average interest-earning assets 9,208,156 8,785,619 8,743,462 Net interest margin, fully taxable equivalent 4.19 % 4.08 % 3.99 % Non-interest income to total revenues: Non-interest income $ 14,483 $ 14,864 $ 12,844 Total revenues 110,453 103,080 99,370 Non-interest income to total revenues 13.11 % 14.42 % 12.93 % Adjusted non-interest expense to average assets: Adjusted non-interest expense $ 54,739 $ 55,792 $ 53,210 Average total assets 9,633,817 9,186,765 9,140,736 Adjusted non-interest expense to average assets 2.28 % 2.46 % 2.34 % Adjusted efficiency ratio: Adjusted non-interest expense excluding amortization of intangible assets $ 53,240 $ 54,674 $ 51,865 Total revenues 110,453 103,080 99,370 Adjusted efficiency ratio 48.20 % 53.04 % 52.19 % Adjusted return on average assets: Adjusted net income $ 33,828 $ 28,751 $ 29,671 Average total assets 9,633,817 9,186,765 9,140,736 Adjusted return on average assets 1.41 % 1.27 % 1.31 % Adjusted return on average stockholders' equity: Adjusted net income $ 33,828 $ 28,751 $ 29,671 Average stockholders' equity 1,178,554 1,110,168 1,008,802 Adjusted return on average stockholders' equity 11.51 % 10.50 % 11.83 % Tangible common equity to tangible assets: Tangible common equity $ 988,908 $ 934,098 $ 832,226 Tangible assets 9,516,710 9,387,752 9,433,027 Tangible common equity to tangible assets 10.39 % 9.95 % 8.82 % Return on average tangible common stockholders' equity: Tangible net income available to common stockholders $ 31,189 $ 29,074 $ 30,658 Average tangible common stockholders' equity 974,787 912,654 807,374 Return on average tangible common stockholders' equity 12.83 % 12.92 % 15.27 % Adjusted return on average tangible common stockholders' equity: Adjusted tangible net income available to common stockholders $ 34,935 $ 29,577 $ 30,658 Average tangible common stockholders' equity 974,787 912,654 807,374 Adjusted return on average tangible common stockholders' equity 14.37 % 13.14 % 15.27 % Tangible book value per share: Tangible common equity $ 988,908 $ 934,098 $ 832,226 Common shares outstanding 45,866,649 44,675,553 44,180,829 Tangible book value per share $ 21.56 $ 20.91 $ 18.84 Investors / Media: Brooks Rennie Investor Relations Director 312-660-5805 [email protected] Source: Byline Bancorp, Inc.