Byline Bancorp (BY) Tops Q4 EPS by 7c

January 24, 2019 4:18 PM EST

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Byline Bancorp (NYSE: BY) reported Q4 EPS of $0.46, $0.07 better than the analyst estimate of $0.39. Revenue for the quarter came in at $62.9 million versus the consensus estimate of $64 million.

  • Net income of $17.1 million, or $0.46 per diluted share, a record high since our initial public offering
  • Net interest margin of 4.69% for the fourth quarter of 2018, compared to 4.73% for the third quarter of 2018, and 4.26% for the fourth quarter of 2017
    • Net interest margin excluding accretion income1 improves to 4.13% for the fourth quarter of 2018, compared to 3.99% for the third quarter of 2018, and 3.96% for the fourth quarter of 2017
  • Originated loans and leases grew to $2.2 billion at December 31, 2018, an increase of $171.6 million, or 8.3%, from September 30, 2018
  • Efficiency ratio of 56.81% for the fourth quarter of 2018, compared to 56.57% for the third quarter of 2018, and 66.06% for the fourth quarter of 2017
    • Adjusted efficiency ratio1 improves to 54.95% for the fourth quarter of 2018, compared to 55.78% for the third quarter of 2018, and 63.23% for the fourth quarter of 2017
  • Return on average assets improves to 1.39% for the fourth quarter of 2018, compared to 1.20% for the third quarter of 2018, and (0.09)% for the fourth quarter of 2017
  • Return on average stockholders’ equity improves to 10.61% for the fourth quarter of 2018, compared to 9.22% for the third quarter of 2018, and (0.66)% for the fourth quarter of 2017

Alberto J. Paracchini, President and Chief Executive Officer of Byline, commented, “We delivered a very strong quarter, characterized by a strong net interest margin, improved operating performance, lower credit costs and solid organic growth, with contributions coming from our diversified commercial lending platform, branch network and government guaranteed lending business. Earnings for the quarter were the highest since our IPO, and reflect the hard work of our employees in serving customers and the successful integration of First Evanston.

“We remain focused on executing our strategy of pursuing disciplined organic growth and improving operating efficiencies in 2019. We believe our pending acquisition of Oak Park River Forest Bankshares, Inc. will enhance our position in an attractive Chicago metropolitan market, provide an important source of low-cost deposits, and further enhance the value of the Byline franchise. Completing the acquisition and ensuring a smooth transition for customers and colleagues is a top priority for 2019,” said Mr. Paracchini.

For earnings history and earnings-related data on Byline Bancorp (BY) click here.



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