Byline Bank
| Company type | Public |
|---|---|
| Industry | Banking |
| Predecessor | Metropolitan Bank Group |
| Founded | 1978 |
| Founder | Fasseas family |
| Headquarters | Chicago , United States |
Area served | Chicago metropolitan area |
Key people | Roberto Herencia (BXM Holdings LLC leader) |
| Products | Banking services |
| Website | bylinebank |
Byline Bank, headquartered in Chicago, serves as the main subsidiary of Byline Bancorp, Inc., a publicly listed bank holding company. As of December 2019, the institution operated 57 branches predominantly within the Chicago metropolitan region and is recognized as the fourth largest lender under the Small Business Administration program.
History
The origins of the bank trace back to 1978 when the Fasseas family established it as Metropolitan Bank Group after acquiring North Community Bank. The organization grew to encompass more than 90 branches across Chicago before encountering difficulties amid the 2008 financial downturn. In response, it secured $71.5 million through the Troubled Asset Relief Program in 2009. A significant recapitalization occurred in 2013 when BXM Holdings LLC, led by Roberto Herencia, invested $207 million into the bank.
In 2015, the company underwent a rebranding initiative to become Byline Bancorp Inc., unifying its subsidiaries under the Byline Bank name. This corporate identity shift preceded its acquisition of Ridgestone Bank and was part of a broader growth strategy.
Byline Bancorp launched its initial public offering on the New York Stock Exchange in June 2017. The bank pursued expansion through acquisitions, including First Evanston Bancorp for $178.6 million in May 2018 and Oak Park River Forest Bank for $40 million in April 2019. In December 2022, Byline entered into a definitive agreement to merge with Inland Bank for an estimated $165 million in cash and stock, with the transaction finalized in July 2023.