Byline Bancorp (BY) Misses Q1 EPS by 5c, Revenues In-Line
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Byline Bancorp (NYSE: BY) reported Q1 EPS of $0.22, $0.05 worse than the analyst estimate of $0.27. Revenue for the quarter came in at $45.12 million versus the consensus estimate of $45.1 million.
First Quarter 2018 Highlights
- Net income of $6.8 million, or $0.22 per diluted share
- Provision for loan and lease losses was elevated primarily due to a single commercial relationship
- Net interest margin (“NIM”) improves to 4.45% for the first quarter of 2018, compared to 4.26% for the fourth quarter of 2017. NIM excluding accretion income improves to 4.14% for the first quarter of 2018, compared to 3.96% for the fourth quarter of 2017
- Loan originations of $65.5 million and lease originations of $21.8 million
- Loans were $2.3 billion as of March 31, 2018, an increase of $2.9 million over the fourth quarter of 2017, and $136.9 million over the first quarter of 2017
- Originated loans and leases grew to $1.6 billion as of March 31, 2018, an increase of $45.4 million from the fourth quarter of 2017, and $302.9 million from first quarter of 2017
- Total deposits were stable at $2.5 billion and core deposits were 85.3% of total deposits
- Received regulatory and stockholder approval for the First Evanston Bancorp, Inc. acquisition
For earnings history and earnings-related data on Byline Bancorp (BY) click here.
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