# EDGAR Filing Document

**Accession Number:** 0001702750
**File Stem:** 0000950170-23-001227
**Filing Date:** 2023-1
**Character Count:** 150038
**Document Hash:** 828ba8066a8cb3494c47d6e7b5091d28
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950170-23-001227.hdr.sgml**: 20230126

**ACCESSION NUMBER**: 0000950170-23-001227

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 40

**CONFORMED PERIOD OF REPORT**: 20230126

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230126

**DATE AS OF CHANGE**: 20230126

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BYLINE BANCORP, INC.
- **CENTRAL INDEX KEY:** 0001702750
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **IRS NUMBER:** 363012593

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38139
- **FILM NUMBER:** 23557856

**BUSINESS ADDRESS:**
- **BUSINESS PHONE:** 773-244-7000

**MAIL ADDRESS:**
- **STREET 1:** 180 NORTH LASALLE STREET, SUITE 300
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60601

?xml version="1.0" encoding="ASCII"? 8-K

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

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**FORM** 8-K

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**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

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BYLINE BANCORP, INC.

**(Exact Name of Registrant as Specified in Its Charter)**

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Delaware

**(State or Other Jurisdiction**

**of Incorporation)**

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| | |
|:---|:---|
| 001-38139 | 36-3012593 |
| **(Commission**<br>**File Number)** | **(I.R.S. Employer**<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)**

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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)

☐ 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))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Title of each class | &nbsp;&nbsp;Trading Symbol(s) | &nbsp;&nbsp;Name of each exchange on which registered |
| &nbsp;&nbsp;Common Stock | &nbsp;&nbsp;BY | &nbsp;&nbsp;New York Stock Exchange |

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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. ☐

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| | |
|:---|:---|
| <br>**Item 2.02.** | <br>**Results of Operations and Financial Condition.** |

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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.

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| | |
|:---|:---|
| &nbsp;&nbsp;**Item 9.01.** | &nbsp;&nbsp;**Financial Statements and Exhibits.** |

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**(d) Exhibits.**

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| | |
|:---|:---|
| &nbsp;&nbsp;**Exhibit**<br>**No.** | &nbsp;&nbsp;**Description** |
| &nbsp;&nbsp;&nbsp;99.1 | &nbsp;&nbsp;&nbsp;[<u>Fourth Quarter 2022 financial results press release, dated January 26, 2023</u>](by-ex99_1.htm) |
| &nbsp;&nbsp;&nbsp;99.2 | &nbsp;&nbsp;&nbsp;[<u>Slide Presentation regarding fourth quarter 2022 financial results</u>](by-ex99_2.htm) |
| &nbsp;&nbsp;&nbsp;104 | &nbsp;&nbsp;&nbsp;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.

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

---

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## Exhibit 99.1

**Exhibit 99.1**

![img195841198_0.jpg](img195841198_0.jpg)

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

**<u>Select Fourth Quarter 2022 Financial Highlights</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Net income of $24.4 million, or $0.65 per diluted share**

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Pre-tax pre-provision return on average assets of 2.05%**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Return on average assets of 1.33%; Return on tangible common equity of 17.21%**<sup>1</sup>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Efficiency ratio of 55.53%**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Total loans and leases increased $160.0 million**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Total deposits increased $82.7 million to $5.7 billion** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Common Equity Tier 1 to risk weighted assets of 10.20%**

**<u>Select Full Year 2022 Financial Highlights</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Net income of $88.0 million, or $2.34 per diluted share**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Pre-tax pre-provision return on average assets of 1.97%**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Return on average assets 1.25%; Return on tangible common equity 15.15%**<sup>1</sup>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Efficiency ratio of 54.99%**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Adopted ASU 2016-13 Financial Instruments - Credit Losses (Topic 326) as of January 1, 2022**<sup>2</sup>

**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."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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.

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

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Byline Bancorp, Inc.

Page 2 of 19

**<u>Company Adopts</u> <u>ASU 2016-13 Financial Instruments - Credit Losses (Topic 326)</u>** 

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.

**<u>Board Declares Cash Dividend of $0.09 per Share</u>**

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.

**<u>Board Authorizes New Stock Repurchase Program</u>**

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.

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Byline Bancorp, Inc.

Page 3 of 19

**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** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** |
|  |  |  |  | **Recast** | **Recast** | **Recast** |  |  |  |
|  | **December 31, 2022** | **December 31, 2022** | **December 31, 2022** | **September 30, 2022** | **September 30, 2022** | **September 30, 2022** | **December 31, 2021** | **December 31, 2021** | **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 |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $89368 | $234 | 1.04% | $77522 | $210 | 1.08% | $106170 | $42 | 0.16% |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans and leases(1) | 5389210 | 85720 | 6.31% | 5217779 | $72634 | 5.52% | 4610608 | 58570 | 5.04% |
| &nbsp;&nbsp;&nbsp;&nbsp;Taxable securities | 1288750 | 7043 | 2.17% | 1306024 | $5963 | 1.81% | 1288969 | 5111 | 1.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tax-exempt securities(2) | 155562 | 1021 | 2.60% | 162591 | $1083 | 2.64% | 184015 | 1217 | 2.62% |
| Total interest-earning assets | $6922890 | $94018 | 5.39% | $6763916 | $79890 | 4.69% | $6189762 | $64940 | 4.16% |
| Allowance for credit losses - <br> loans and leases | (81815) |  |  | (74383) |  |  | (59144) |  |  |
| All other assets | 424978 |  |  | 447939 |  |  | 568451 |  |  |
| TOTAL ASSETS | $7266053 |  |  | $7137472 |  |  | $6699069 |  |  |
| LIABILITIES AND STOCKHOLDERS'<br> EQUITY |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deposits |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest checking | $596627 | $1902 | 1.27% | $583777 | $1077 | 0.73% | $659841 | $236 | 0.14% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money market accounts | 1472050 | 5458 | 1.47% | 1391923 | 3358 | 0.96% | 1089398 | 345 | 0.13% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Savings | 647536 | 243 | 0.15% | 673966 | 247 | 0.15% | 633469 | 75 | 0.05% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Time deposits | 788856 | 3007 | 1.51% | 687124 | 1289 | 0.74% | 688154 | 381 | 0.22% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing <br> deposits | 3505069 | 10610 | 1.20% | 3336790 | 5971 | 0.71% | 3070862 | 1037 | 0.13% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other borrowings | 514517 | 4598 | 3.55% | 607471 | 3232 | 2.11% | 385787 | 330 | 0.34% |
| &nbsp;&nbsp;&nbsp;&nbsp;Subordinated notes and <br> debentures | 110947 | 1992 | 7.12% | 110799 | 1825 | 6.54% | 110341 | 1589 | 5.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total borrowings | 625464 | 6590 | 4.18% | 718270 | 5057 | 2.79% | 496128 | 1919 | 1.53% |
| Total interest-bearing liabilities | $4130533 | $17200 | 1.65% | $4055060 | $11028 | 1.08% | $3566990 | $2956 | 0.33% |
| Non-interest-bearing <br> demand deposits | 2235464 |  |  | 2198095 |  |  | 2222583 |  |  |
| Other liabilities | 151764 |  |  | 118496 |  |  | 70521 |  |  |
| Total stockholders' equity | 748292 |  |  | 765821 |  |  | 838975 |  |  |
| TOTAL LIABILITIES AND<br> STOCKHOLDERS' EQUITY | $7266053 |  |  | $7137472 |  |  | $6699069 |  |  |
| Net interest spread(3) |  |  | 3.74% |  |  | 3.61% |  |  | 3.83% |
| Net interest income, fully <br> taxable equivalent |  | $76818 |  |  | $68862 |  |  | $61984 |  |
| 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 |  | $76604 |  |  | $68635 |  |  | $61728 |  |
| Net interest margin(4) |  |  | 4.39% |  |  | 4.03% |  |  | 3.96% |
| Net loan accretion impact <br> on margin |  | $369 | 0.02% |  | $1371 | 0.08% |  | $1450 | 0.09% |

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(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.

Page 4 of 19

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

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  |  | **December 31, 2022** | **December 31, 2022** |
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Change from** | **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 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest and fees on loans and leases | $85720 | $72635 | $58570 | 18.0% | 46.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest on securities | 6569 | 6402 | 5619 | 2.6% | 16.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other interest and dividend income | 1515 | 626 | 495 | 141.9% | 206.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest and dividend income | 93804 | 79663 | 64684 | 17.7% | 45.0% |
| INTEREST EXPENSE |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deposits | 10610 | 5971 | 1037 | 77.7% | 922.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other borrowings | 4598 | 3232 | 330 | 42.2% | 1296.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Subordinated notes and debentures | 1992 | 1825 | 1589 | 9.1% | 25.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest expense | 17200 | 11028 | 2956 | 56.0% | 481.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income | $76604 | $68635 | $61728 | 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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:

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

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Byline Bancorp, Inc.

Page 5 of 19

**Non-interest Income**

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

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  |  | **December 31, 2022** | **December 31, 2022** |
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Change from** | **Change from** |
|  |  | **Recast** |  |  |  |
|  | **December 31,** | **September 30,** | **December 31,** | **September 30,** | **December 31,** |
| **(dollars in thousands)** | **2022** | **2022** | **2021** | **2022** | **2021** |
| NON-INTEREST INCOME |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fees and service charges on deposits | $2081 | $2128 | $1955 | (2.2)% | 6.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Loan servicing revenue | 3293 | 3422 | 3392 | (3.8)% | (2.9)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Loan servicing asset revaluation | (3534) | (2342) | (2510) | 50.8% | 40.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;ATM and interchange fees | 1250 | 1007 | 1219 | 24.1% | 2.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Net realized gains (losses) on securities available-for-sale |  | (2) | (21) | NM | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in fair value of equity securities, net | 710 | (581) | (98) | NM | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Net gains on sales of loans | 5509 | 5580 | 12924 | (1.3)% | (57.4)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Wealth management and trust income | 864 | 995 | 764 | (13.3)% | 13.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other non-interest income | 1282 | 1836 | 1389 | (30.1)% | (7.6)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total non-interest income | $11455 | $12043 | $19014 | (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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  |  | **December 31, 2022** | **December 31, 2022** |
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Change from** | **Change from** |
|  |  | **Recast** |  |  |  |
|  | **December 31,** | **September 30,** | **December 31,** | **September 30,** | **December 31,** |
| **(dollars in thousands)** | **2022** | **2022** | **2021** | **2022** | **2021** |
| NON-INTEREST EXPENSE |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Salaries and employee benefits | $31808 | $29587 | $28850 | 7.5% | 10.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Occupancy and equipment expense, net | 3532 | 3919 | 4995 | (9.9)% | (29.3)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Impairment charge on assets held for sale | 372 |  | 8351 | NM | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Loan and lease related expenses | 1126 | 530 | 2328 | 111.9% | (51.7)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Legal, audit and other professional fees | 3204 | 2733 | 2376 | 17.3% | 34.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Data processing | 3406 | 3370 | 3070 | 1.1% | 11.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss recognized on other real estate <br> owned and other related expenses | 221 | 275 | 26 | (19.8)% | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Other intangible assets amortization expense | 1596 | 1611 | 1738 | (0.9)% | (8.1)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other non-interest expense | 5235 | 4016 | 7356 | 30.3% | (28.9)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total non-interest expense | $50500 | $46041 | $59090 | 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.

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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

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

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

Partially offset by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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:

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

Partially offset by:

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

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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** | **Recast** |  |  |
|  | **December 31, 2022** | **December 31, 2022** | **September 30, 2022** | **September 30, 2022** | **December 31, 2021** | **December 31, 2021** |
| **(dollars in thousands)** | **Amount** | **% of Total** | **Amount** | **% of Total** | **Amount** | **% of Total** |
| **Originated loans and leases** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial real estate | $1712152 | 31.6% | $1659218 | 31.5% | $1379000 | 30.4% |
| &nbsp;&nbsp;&nbsp;Residential real estate | 426226 | 7.9% | 409926 | 7.8% | 379796 | 8.4% |
| &nbsp;&nbsp;&nbsp;Construction, land development, and<br> other land | 438617 | 8.1% | 456276 | 8.6% | 323886 | 7.1% |
| &nbsp;&nbsp;&nbsp;Commercial and industrial | 2029855 | 37.5% | 1938714 | 36.8% | 1534745 | 33.8% |
| &nbsp;&nbsp;&nbsp;Paycheck Protection Program | 761 | 0.0% | 1522 | 0.0% | 123712 | 2.7% |
| &nbsp;&nbsp;&nbsp;Installment and other | 1410 | 0.0% | 999 | 0.0% | 940 | 0.0% |
| &nbsp;&nbsp;&nbsp;Leasing financing receivables | 521689 | 9.6% | 492744 | 9.3% | 352247 | 7.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total originated loans and leases | $5130710 | 94.7% | $4959399 | 94.0% | $4094326 | 90.2% |
| **Acquired impaired loans** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial real estate | $45143 | 0.8% | $49649 | 0.9% | $72160 | 1.6% |
| &nbsp;&nbsp;&nbsp;Residential real estate | 32228 | 0.6% | 35309 | 0.7% | 49401 | 1.1% |
| &nbsp;&nbsp;&nbsp;Construction, land development, and<br> other land | 372 | 0.0% | 1131 | 0.0% | 1312 | 0.0% |
| &nbsp;&nbsp;&nbsp;Commercial and industrial | 2192 | 0.0% | 2345 | 0.1% | 4014 | 0.1% |
| &nbsp;&nbsp;&nbsp;Installment and other | 140 | 0.0% | 149 | 0.0% | 164 | 0.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total acquired impaired loans | $80075 | 1.4% | $88583 | 1.7% | $127051 | 2.8% |
| **Acquired non-impaired loans and leases** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial real estate | $152193 | 2.8% | $159928 | 3.0% | $214588 | 4.7% |
| &nbsp;&nbsp;&nbsp;Residential real estate | 31508 | 0.6% | 36480 | 0.7% | 51317 | 1.1% |
| &nbsp;&nbsp;&nbsp;Construction, land development, and<br> other land |  | 0.0% | 187 | 0.0% | 201 | 0.1% |
| &nbsp;&nbsp;&nbsp;Commercial and industrial | 24266 | 0.5% | 27249 | 0.5% | 43202 | 1.0% |
| &nbsp;&nbsp;&nbsp;Installment and other | 209 | 0.0% | 216 | 0.0% | 264 | 0.0% |
| &nbsp;&nbsp;&nbsp;Leasing financing receivables | 2297 | 0.0% | 3084 | 0.1% | 6179 | 0.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total acquired non-impaired loans<br> and leases | $210473 | 3.9% | $227144 | 4.3% | $315751 | 7.0% |
| Total loans and leases | $5421258 | 100.0% | $5275126 | 100.0% | $4537128 | 100.0% |
| Allowance for credit losses - loans and leases | (81924) |  | (79704) |  | (55012) |  |
| Total loans and leases, net of allowance for<br> credit losses - loans and leases | $5339334 |  | $5195422 |  | $4482116 |  |

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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** | **December 31, 2022** |
|  |  | **Recast** |  | **Change from** | **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 | $36027 | $41942 | $23130 | (14.1)% | 55.8% |
| Past due loans and leases 90 days or more<br> and still accruing interest |  |  |  | —% | —% |
| Total non-performing loans and leases | $36027 | $41942 | $23130 | (14.1)% | 55.8% |
| Other real estate owned | 4717 | 4402 | 2112 | 7.2% | 123.3% |
| &nbsp;&nbsp;Total non-performing assets | $40744 | $46344 | $25242 | (12.1)% | 61.4% |
| Accruing troubled debt restructured loans (1) | $719 | $1113 | $1927 | (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 | $2225 | $1676 | $3270 | 32.8% | (32.0)% |
| Past due loans 90 days or more and still<br> accruing interest guaranteed |  |  |  | —% | —% |
| &nbsp;&nbsp;Total non-performing loans guaranteed | $2225 | $1676 | $3270 | 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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** | **Three Months Ended** | **Three Months Ended** |
|  |  | **Recast** |  |
|  | **December 31,** | **September 30,** | **December 31,** |
| **(dollars in thousands)** | **2022** | **2022** | **2021** |
| ACL - loans and leases, beginning of period | $79704 | $74048 | $60598 |
| Provision/(recapture) for credit losses - loans and leases | 5399 | 7447 | (1415) |
| Net charge-offs | (3179 | (1791 | (4171) |
| ACL - loans and leases, end of period | $81924 | $79704 | $55012 |
| 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 | 4.16 | (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** | **December 31, 2022** |
|  |  |  |  | **Change from** | **Change from** |
| **(dollars in thousands)** | **December 31, 2022** | **September 30, 2022** | **December 31, 2021** | **September 30, 2022** | **December 31, 2021** |
| Non-interest-bearing demand deposits | $2138645 | $2142183 | $2158420 | (0.2)% | (0.9)% |
| Interest-bearing checking accounts | 592098 | 616139 | 572426 | (3.9)% | 3.4% |
| Money market demand accounts | 1415653 | 1485815 | 1106272 | (4.7)% | 28.0% |
| Other savings | 625798 | 669734 | 638218 | (6.6)% | (1.9)% |
| Time deposits (below $250,000) | 762250 | 586198 | 532589 | 30.0% | 43.1% |
| Time deposits ($250,000 and above) | 160677 | 112387 | 147122 | 43.0% | 9.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | $5695121 | $5612456 | $5155047 | 1.5% | 10.5% |

---

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:

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

Partially offset by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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** | **Actual** | **Minimum Capital<br>Required** | **Minimum Capital<br>Required** | **Required to be<br>Considered<br>Well Capitalized** | **Required to be<br>Considered<br>Well Capitalized** |
| **December 31, 2022** | **Amount** | **Ratio** | **Amount** | **Ratio** | **Amount** | **Ratio** |
| Total capital to risk weighted assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Company | $900806 | 13.00% | $554436 | 8.00% | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;Bank | 852047 | 12.34% | 552507 | 8.00% | $690633 | 10.00% |
| Tier 1 capital to risk weighted assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Company | $751887 | 10.85% | $415827 | 6.00% | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;Bank | 778128 | 11.27% | 414380 | 6.00% | $552507 | 8.00% |
| Common Equity Tier 1 (CET1) to<br> risk weighted assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Company | $706887 | 10.20% | $311870 | 4.50% | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;Bank | 778128 | 11.27% | 310785 | 4.50% | $448912 | 6.50% |
| Tier 1 capital to average assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Company | $751887 | 10.29% | $292258 | 4.00% | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;Bank | 778128 | 10.67% | $291741 | 4.00% | $364676 | 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:**

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Investors:** | &nbsp;&nbsp;**Media:** |
| &nbsp;&nbsp;Brooks Rennie | &nbsp;&nbsp;Erin O'Neill |
| &nbsp;&nbsp;Investor Relations Director | &nbsp;&nbsp;Marketing Director |
| &nbsp;&nbsp;312-660-5805 | &nbsp;&nbsp;773-475-2901 |
| &nbsp;&nbsp;brennie@bylinebank.com | &nbsp;&nbsp;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** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash and due from banks | $62274 | $56546 | $58844 | $48015 | $35247 |
| &nbsp;&nbsp;&nbsp;Interest bearing deposits with other banks | 117079 | 159744 | 83057 | 105564 | 122684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | 179353 | 216290 | 141901 | 153579 | 157931 |
| &nbsp;&nbsp;&nbsp;Equity and other securities, at fair value | 7989 | 7279 | 7860 | 10677 | 10578 |
| &nbsp;&nbsp;&nbsp;Securities available-for-sale, at fair value | 1174431 | 1181654 | 1273138 | 1369368 | 1454542 |
| &nbsp;&nbsp;&nbsp;Securities held-to-maturity, at amortized cost | 2705 | 3877 | 3880 | 3882 | 3885 |
| &nbsp;&nbsp;&nbsp;Restricted stock, at cost | 28202 | 27077 | 30002 | 13977 | 22002 |
| &nbsp;&nbsp;&nbsp;Loans held for sale | 47823 | 33975 | 17284 | 39520 | 64460 |
| &nbsp;&nbsp;&nbsp;Loans and leases: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans and leases | 5421258 | 5275126 | 5167716 | 4787607 | 4537128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allowance for credit losses - loans and leases | (81924) | (79704) | (74048) | (72107) | (55012) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net loans and leases | 5339334 | 5195422 | 5093668 | 4715500 | 4482116 |
| &nbsp;&nbsp;&nbsp;Servicing assets, at fair value | 19172 | 21127 | 22155 | 24497 | 23744 |
| &nbsp;&nbsp;&nbsp;Premises and equipment, net | 56798 | 59049 | 60773 | 62281 | 62548 |
| &nbsp;&nbsp;&nbsp;Other real estate owned, net | 4717 | 4402 | 4749 | 2221 | 2112 |
| &nbsp;&nbsp;&nbsp;Goodwill and other intangible assets, net | 158887 | 160484 | 162094 | 163962 | 165558 |
| &nbsp;&nbsp;&nbsp;Bank-owned life insurance | 82093 | 81592 | 81100 | 80604 | 80039 |
| &nbsp;&nbsp;&nbsp;Deferred tax assets, net | 68213 | 95831 | 82412 | 71355 | 50329 |
| &nbsp;&nbsp;&nbsp;Accrued interest receivable and other assets | 193224 | 179218 | 143014 | 114035 | 116328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $7362941 | $7267277 | $7124030 | $6825458 | $6696172 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |  |  |  |
| LIABILITIES |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Non-interest-bearing demand deposits | $2138645 | $2142183 | $2180927 | $2281612 | $2158420 |
| &nbsp;&nbsp;&nbsp;Interest-bearing deposits | 3556476 | 3470273 | 3207450 | 3248490 | 2996627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 5695121 | 5612456 | 5388377 | 5530102 | 5155047 |
| &nbsp;&nbsp;&nbsp;Other borrowings | 640399 | 653954 | 748092 | 311450 | 519723 |
| &nbsp;&nbsp;&nbsp;Subordinated notes, net | 73691 | 73648 | 73604 | 73560 | 73517 |
| &nbsp;&nbsp;&nbsp;Junior subordinated debentures issued to <br> capital trusts, net | 37338 | 37232 | 37123 | 37011 | 36906 |
| &nbsp;&nbsp;&nbsp;Accrued expenses and other liabilities | 150576 | 154182 | 121185 | 95675 | 74597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 6597125 | 6531472 | 6368381 | 6047798 | 5859790 |
| STOCKHOLDERS' EQUITY |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Preferred stock |  |  |  |  | 10438 |
| &nbsp;&nbsp;&nbsp;Common stock | 389 | 389 | 388 | 388 | 387 |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital | 598297 | 597049 | 595938 | 595006 | 593753 |
| &nbsp;&nbsp;&nbsp;Retained earnings | 335794 | 314800 | 297766 | 279386 | 271676 |
| &nbsp;&nbsp;&nbsp;Treasury stock | (51114) | (51535) | (47181) | (40732) | (31570) |
| &nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss, net of tax | (117550) | (124898) | (91262) | (56388) | (8302) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 765816 | 735805 | 755649 | 777660 | 836382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $7362941 | $7267277 | $7124030 | $6825458 | $6696172 |

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**BYLINE BANCORP, INC. AND SUBSIDIARIES**

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

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---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Year 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 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest and fees on loans and leases | $85720 | $72635 | $59919 | $55138 | $58570 | $273412 | $222993 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest on securities | 6569 | 6402 | 6264 | 6155 | 5619 | 25390 | 23601 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other interest and dividend income | 1515 | 626 | 496 | 120 | 495 | 2757 | 2332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest and dividend income | 93804 | 79663 | 66679 | 61413 | 64684 | 301559 | 248926 |
| INTEREST EXPENSE |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deposits | 10610 | 5971 | 2128 | 1087 | 1037 | 19796 | 4502 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other borrowings | 4598 | 3232 | 1097 | 395 | 330 | 9322 | 1663 |
| &nbsp;&nbsp;&nbsp;&nbsp;Subordinated notes and debentures | 1992 | 1825 | 1694 | 1600 | 1589 | 7111 | 6374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest expense | 17200 | 11028 | 4919 | 3082 | 2956 | 36229 | 12539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income | 76604 | 68635 | 61760 | 58331 | 61728 | 265330 | 236387 |
| PROVISION/(RECAPTURE) FOR CREDIT LOSSES | 5826 | 7208 | 4286 | 6559 | (1415) | 23879 | 973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income after <br> provision/(recapture) for <br> credit losses | 70778 | 61427 | 57474 | 51772 | 63143 | 241451 | 235414 |
| NON-INTEREST INCOME |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fees and service charges on deposits | 2081 | 2128 | 2059 | 1884 | 1955 | 8152 | 7254 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loan servicing revenue | 3293 | 3422 | 3384 | 3380 | 3392 | 13479 | 12693 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loan servicing asset revaluation | (3534) | (2342) | (4636) | (1231) | (2510) | (11743) | (6658) |
| &nbsp;&nbsp;&nbsp;&nbsp;ATM and interchange fees | 1250 | 1007 | 1131 | 1049 | 1219 | 4437 | 4476 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net realized gains (losses) on securities <br> available-for-sale |  | (2) | 52 |  | (21) | 50 | 1435 |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in fair value of equity <br> securities, net | 710 | (581) | (697) | (35) | (98) | (603) | (62) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net gains on sales of loans | 5509 | 5580 | 9983 | 10827 | 12924 | 31899 | 46274 |
| &nbsp;&nbsp;&nbsp;&nbsp;Wealth management and trust income | 864 | 995 | 900 | 1048 | 764 | 3807 | 3069 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other non-interest income | 1282 | 1836 | 2097 | 2621 | 1389 | 7836 | 5772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total non-interest income | 11455 | 12043 | 14273 | 19543 | 19014 | 57314 | 74253 |
| NON-INTEREST EXPENSE |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Salaries and employee benefits | 31808 | 29587 | 27697 | 28959 | 28850 | 118051 | 101222 |
| &nbsp;&nbsp;&nbsp;&nbsp;Occupancy and equipment expense, <br> net | 3532 | 3919 | 4409 | 5128 | 4995 | 16988 | 20612 |
| &nbsp;&nbsp;&nbsp;&nbsp;Impairment charge on assets <br> held for sale | 372 |  |  |  | 8351 | 372 | 12332 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loan and lease related expenses | 1126 | 530 | 942 | (891) | 2328 | 1707 | 5957 |
| &nbsp;&nbsp;&nbsp;&nbsp;Legal, audit, and other <br> professional fees | 3204 | 2733 | 1820 | 2600 | 2376 | 10357 | 10198 |
| &nbsp;&nbsp;&nbsp;&nbsp;Data processing | 3406 | 3370 | 3396 | 3186 | 3070 | 13358 | 11780 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss recognized on other real <br> estate owned and other related <br> expenses | 221 | 275 | 158 | 54 | 26 | 708 | 1078 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other intangible assets amortization <br> expense | 1596 | 1611 | 1868 | 1596 | 1738 | 6671 | 7073 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other non-interest expense | 5235 | 4016 | 3295 | 3324 | 7356 | 15870 | 15203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total non-interest expense | 50500 | 46041 | 43585 | 43956 | 59090 | 184082 | 185455 |
| INCOME BEFORE PROVISION FOR <br> INCOME TAXES | 31733 | 27429 | 28162 | 27359 | 23067 | 114683 | 124212 |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| PROVISION FOR INCOME TAXES | 7366 | 7020 | 6382 | 5961 | 5878 | 26729 | 31427 |
| NET INCOME | 24367 | 20409 | 21780 | 21398 | 17189 | 87954 | 92785 |
| Dividends on preferred shares |  |  |  | 196 | 196 | 196 | 783 |
| INCOME AVAILABLE TO COMMON <br> STOCKHOLDERS | $24367 | $20409 | $21780 | $21202 | $16993 | $87758 | $92002 |
| EARNINGS PER COMMON SHARE |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | $0.66 | $0.55 | $0.59 | $0.57 | $0.46 | $2.37 | $2.45 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | $0.65 | $0.55 | $0.58 | $0.56 | $0.45 | $2.34 | $2.40 |

---

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Page 16 of 19

**BYLINE BANCORP, INC. AND SUBSIDIARIES**

SELECTED FINANCIAL DATA (unaudited)

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Byline Bancorp, Inc.

Page 17 of 19

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **As of or For the Three Months Ended** | **As of or For the Three Months Ended** | **As of or For the Three Months Ended** | **As of or For the Three Months Ended** | **As of or For the Three Months Ended** | **As of or For the Twelve 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) | 36856221 | 36851973 | 37064795 | 37123161 | 37124176 | 36972972 | 37609723 |
| Weighted average common shares <br> outstanding (diluted) | 37360113 | 37371159 | 37612268 | 38042822 | 37999401 | 37476120 | 38369067 |
| Common shares outstanding | 37492775 | 37465902 | 37669102 | 37811582 | 37713903 | 37492775 | 37713903 |
| 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 | $149872 | $147696 | $141799 | $125684 | $117160 | $149872 | $117160 |
| **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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Page 19 of 19

**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,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|  | **2022** | **2022** | **2022** | **2021** | **2021** | **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 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $76978 | $547 | 0.71% | $69338 | $117 | 0.17% |
| &nbsp;&nbsp;&nbsp;Loans and leases(1) | 5073288 | 273412 | 5.39% | 4518836 | 222993 | 4.93% |
| &nbsp;&nbsp;&nbsp;Taxable securities | 1316147 | 24156 | 1.84% | 1376045 | 21909 | 1.59% |
| &nbsp;&nbsp;&nbsp;Tax-exempt securities(2) | 164051 | 4359 | 2.66% | 184622 | 4946 | 2.68% |
| Total interest-earning assets | $6630464 | $302474 | 4.56% | $6148841 | $249965 | 4.07% |
| Allowance for credit losses - loans and leases | (74233) |  |  | (63351) |  |  |
| All other assets | 462548 |  |  | 556641 |  |  |
| TOTAL ASSETS | $7018779 |  |  | $6642131 |  |  |
| LIABILITIES AND STOCKHOLDERS'<br> EQUITY |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Deposits |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest checking | $593903 | $3572 | 0.60% | $622147 | $883 | 0.14% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money market accounts | 1357371 | 10484 | 0.77% | 1073970 | 1285 | 0.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Savings | 658968 | 649 | 0.10% | 610953 | 289 | 0.05% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Time deposits | 691650 | 5091 | 0.74% | 722974 | 2045 | 0.28% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing deposits | 3301892 | 19796 | 0.60% | 3030044 | 4502 | 0.15% |
| &nbsp;&nbsp;&nbsp;Other borrowings | 479004 | 9322 | 1.95% | 525078 | 1663 | 0.32% |
| &nbsp;&nbsp;&nbsp;Subordinated notes and debentures | 110723 | 7111 | 6.42% | 110108 | 6374 | 5.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total borrowings | 589727 | 16433 | 2.79% | 635186 | 8037 | 1.27% |
| Total interest-bearing liabilities | $3891619 | $36229 | 0.93% | $3665230 | $12539 | 0.34% |
| Non-interest-bearing demand deposits | 2236615 |  |  | 2085454 |  |  |
| Other liabilities | 114320 |  |  | 71430 |  |  |
| Total stockholders' equity | 776225 |  |  | 820017 |  |  |
| TOTAL LIABILITIES AND<br> STOCKHOLDERS' EQUITY | $7018779 |  |  | $6642131 |  |  |
| Net interest spread(3) |  |  | 3.63% |  |  | 3.73% |
| Net interest income, fully <br> taxable equivalent |  | $266245 |  |  | $237426 |  |
| Net interest margin, fully <br> taxable equivalent(2)(4) |  |  | 4.01% |  |  | 3.86% |
| Less: Tax-equivalent adjustment |  | 915 | 0.01% |  | 1039 | 0.02% |
| Net interest income |  | $265330 |  |  | $236387 |  |
| Net interest margin(4) |  |  | 4.00% |  |  | 3.84% |
| Net loan accretion impact on margin |  | $4555 | 0.07% |  | $6451 | 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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Page 20 of 19

**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** | **January 1, 2022** | **January 1, 2022** |
| **(dollars in thousands)** | **Pre-CECL Adoption** | **Impact of CECL Adoption** | **As Reported under CECL** |
| **Balance Sheet:** |  |  |  |
| ASSETS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Allowance for credit losses - loans and leases | $55012 | $12168 | $67180 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred tax assets, net | 50329 | 3679 | 54008 |
| LIABILITIES |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Allowance for credit losses on unfunded commitments | $1403 | $1595 | $2998 |
| EQUITY |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Retained earnings | $271676 | $(10097) | $261579 |

---

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** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **March 31, 2022** | **March 31, 2022** | **March 31, 2022** | **June 30, 2022** | **June 30, 2022** | **June 30, 2022** | **September 30, 2022** | **September 30, 2022** | **September 30, 2022** |
| **(dollars in thousands)** | **As Reported** | **Adjustment** | **Recast** | **As Reported** | **Adjustment** | **Recast** | **As Reported** | **Adjustment** | **Recast** |
| **Balance Sheet:** |  |  |  |  |  |  |  |  |  |
| ASSETS |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans and leases | $4789068 | $(1461) | $4787607 | $5168071 | $(355) | $5167716 | $5275471 | $(345) | $5275126 |
| &nbsp;&nbsp;&nbsp;&nbsp;Allowance for credit losses <br> - loans and leases | (59458) | (12649) | (72107) | (62436) | (11612) | (74048) | (64655) | (15049) | (79704) |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred tax assets, net | 67335 | 4020 | 71355 | 78950 | 3462 | 82412 | 91532 | 4299 | 95831 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued interest receivable<br> and other assets | 113123 | 912 | 114035 | 142196 | 818 | 143014 | 178433 | 785 | 179218 |
| LIABILITIES |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Allowance for credit losses <br> - unfunded commitments | 2003 | 1832 | 3835 | 2191 | 1825 | 4016 | 2327 | 1450 | 3777 |
| EQUITY |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Retained earnings | 290397 | (11011) | 279386 | 307278 | (9512) | 297766 | 326560 | (11760) | 314800 |
| **Income Statement:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses - <br> loans and leases | $4995 | $728 | $5723 | $5908 | $(1803) | $4105 | $4176 | $3271 | $7447 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses <br> - unfunded commitments | 599 | 237 | 836 | 188 | (7) | 181 | 137 | (376) | (239) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income after <br> provision for credit losses | 53741 | (1969) | 51772 | 55719 | 1755 | 57474 | 64699 | (3272) | 61427 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income before provision <br> for income taxes | 28612 | (1253) | 27359 | 26107 | 2055 | 28162 | 30513 | (3084) | 27429 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for income taxes | 6301 | (340) | 5961 | 5824 | 558 | 6382 | 7857 | (837) | 7020 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income | $22311 | $(913) | $21398 | $20283 | $1497 | $21780 | $22656 | $(2247) | $20409 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income available to <br> common shareholders | $22115 | $(913) | $21202 | $20283 | $1497 | $21780 | $22656 | $(2247) | $20409 |
| EARNINGS PER COMMON SHARE |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | 0.60 | (0.03) | 0.57 | 0.55 | 0.04 | 0.59 | 0.61 | (0.06) | 0.55 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | 0.58 | (0.02) | 0.56 | 0.54 | 0.04 | 0.58 | 0.61 | (0.06) | 0.55 |

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Page 21 of 19

**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.

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **As of or For the Three Months Ended** | **As of or For the Three Months Ended** | **As of or For the Three Months Ended** | **As of or For the Three Months Ended** | **As of or For the Three Months Ended** | **As of or For the Twelve 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** | $24367 | $20409 | $21780 | $21398 | $17189 | $87954 | $92785 |
| Significant items: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Impairment charges on assets held <br> for sale and ROU asset | 372 |  |  |  | 12449 | 372 | 16430 |
| &nbsp;&nbsp;Merger-related expenses | 538 |  |  |  |  | 538 |  |
| &nbsp;&nbsp;Tax benefit | (118) |  |  |  | (3377) | (118) | (4462) |
| **Adjusted Net Income** | $25159 | $20409 | $21780 | $21398 | $26261 | $88746 | $104753 |
| **Reported Diluted Earnings per Share** | $0.65 | $0.55 | $0.58 | $0.56 | $0.45 | $2.34 | $2.40 |
| Significant items: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Impairment charges on assets held <br> for sale and ROU asset | 0.01 |  |  |  | 0.33 | 0.01 | 0.43 |
| &nbsp;&nbsp;Merger-related expenses | 0.01 |  |  |  |  | 0.01 |  |
| &nbsp;&nbsp;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.

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**BYLINE BANCORP, INC. AND SUBSIDIARIES**

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Byline Bancorp, Inc.

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

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Byline Bancorp, Inc.

Page 24 of 19

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **As of or For the Three Months Ended** | **As of or For the Three Months Ended** | **As of or For the Three Months Ended** | **As of or For the Three Months Ended** | **As of or For the Three Months Ended** | **As of or For the Twelve 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:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Non-interest expense | $50500 | $46041 | $43585 | $43956 | $59090 | $184082 | $185455 |
| &nbsp;&nbsp;Less: Significant items |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Impairment charges on assets held for sale <br> and ROU asset | 372 |  |  |  | 12449 | 372 | 16430 |
| &nbsp;&nbsp;Merger-related expenses | 538 |  |  |  |  | 538 |  |
| &nbsp;&nbsp;Adjusted non-interest expense | $49590 | $46041 | $43585 | $43956 | $46641 | $183172 | $169025 |
| **Adjusted non-interest expense excluding <br> amortization of intangible assets:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Adjusted non-interest expense | $49590 | $46041 | $43585 | $43956 | $46641 | $183172 | $169025 |
| &nbsp;&nbsp;Less: Amortization of intangible assets | 1596 | 1611 | 1868 | 1596 | 1738 | 6671 | 7073 |
| &nbsp;&nbsp;Adjusted non-interest expense excluding <br> amortization of intangible assets | $47994 | $44430 | $41717 | $42360 | $44903 | $176501 | $161952 |
| **Pre-tax pre-provision net income:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Pre-tax income | $31733 | $27429 | $28162 | $27359 | $23067 | $114683 | $124212 |
| &nbsp;&nbsp;Add: Provision/(recapture) for credit losses | 5826 | 7208 | 4286 | 6559 | (1415) | 23879 | 973 |
| &nbsp;&nbsp;Pre-tax pre-provision net income | $37559 | $34637 | $32448 | $33918 | $21652 | $138562 | $125185 |
| **Adjusted pre-tax pre-provision net income:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Pre-tax pre-provision net income | $37559 | $34637 | $32448 | $33918 | $21652 | $138562 | $125185 |
| &nbsp;&nbsp;Add: Impairment charges on assets held for sale <br> and ROU asset | 372 |  |  |  | 12449 | 372 | 16430 |
| &nbsp;&nbsp;Add: Merger-related expenses | 538 |  |  |  |  | 538 |  |
| &nbsp;&nbsp;Adjusted pre-tax pre-provision net income | $38469 | $34637 | $32448 | $33918 | $34101 | $139472 | $141615 |
| **Tax equivalent net interest income** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Net interest income | $76604 | $68635 | $61760 | $58331 | $61728 | $265330 | $236387 |
| &nbsp;&nbsp;Add: Tax-equivalent adjustment | 214 | 228 | 236 | 236 | 256 | 915 | 1039 |
| &nbsp;&nbsp;Net interest income, fully taxable equivalent | $76818 | $68863 | $61996 | $58567 | $61984 | $266245 | $237426 |
| **Total revenue:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Net interest income | $76604 | $68635 | $61760 | $58331 | $61728 | $265330 | $236387 |
| &nbsp;&nbsp;Add: Non-interest income | 11455 | 12043 | 14273 | 19543 | 19014 | 57314 | 74253 |
| &nbsp;&nbsp;Total revenue | $88059 | $80678 | $76033 | $77874 | $80742 | $322644 | $310640 |
| **Tangible common stockholders' equity:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Total stockholders' equity | $765816 | $735805 | $755649 | $777660 | $836382 | $765816 | $836382 |
| &nbsp;&nbsp;Less: Preferred stock |  |  |  |  | 10438 |  | 10438 |
| &nbsp;&nbsp;Less: Goodwill and other intangibles | 158887 | 160484 | 162094 | 163962 | 165558 | 158887 | 165558 |
| &nbsp;&nbsp;Tangible common stockholders' equity | $606929 | $575321 | $593555 | $613698 | $660386 | $606929 | $660386 |
| **Tangible assets:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Total assets | $7362941 | $7267277 | $7124030 | $6825458 | $6696172 | $7362941 | $6696172 |
| &nbsp;&nbsp;Less: Goodwill and other intangibles | 158887 | 160484 | 162094 | 163962 | 165558 | 158887 | 165558 |
| &nbsp;&nbsp;Tangible assets | $7204054 | $7106793 | $6961936 | $6661496 | $6530614 | $7204054 | $6530614 |
| **Average tangible common stockholders' <br> equity:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Average total stockholders' equity | $748292 | $765821 | $769658 | $822053 | $838975 | $776225 | $820017 |
| &nbsp;&nbsp;Less: Average preferred stock |  |  |  | 9974 | 10438 | 2459 | 10438 |
| &nbsp;&nbsp;Less: Average goodwill and other <br> intangibles | 159680 | 161292 | 163068 | 164837 | 166396 | 162203 | 169042 |
| &nbsp;&nbsp;Average tangible common stockholders' <br> equity | $588612 | $604529 | $606590 | $647242 | $662141 | $611563 | $640537 |
| **Average tangible assets:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Average total assets | $7266053 | $7137472 | $6966564 | $6697476 | $6699069 | $7018779 | $6642131 |
| &nbsp;&nbsp;Less: Average goodwill and other <br> intangibles | 159680 | 161292 | 163068 | 164837 | 166396 | 162203 | 169042 |
| &nbsp;&nbsp;Average tangible assets | $7106373 | $6976180 | $6803496 | $6532639 | $6532673 | $6856576 | $6473089 |
| **Tangible net income available to common <br> stockholders:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Net income available to common <br> stockholders | $24367 | $20409 | $21780 | $21202 | $16993 | $87758 | $92002 |
| &nbsp;&nbsp;Add: After-tax intangible asset amortization | 1170 | 1181 | 1369 | 1170 | 1266 | 4890 | 5147 |
| &nbsp;&nbsp;Tangible net income available to common <br> stockholders | $25537 | $21590 | $23149 | $22372 | $18259 | $92648 | $97149 |
| **Adjusted tangible net income available<br> to common stockholders:** |  |  |  |  |  |  |  |

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Byline Bancorp, Inc.

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tangible net income available to common <br> stockholders | $25537 | $21590 | $23149 | $22372 | $18259 | $92648 | $97149 |
| &nbsp;&nbsp;Impairment charges on assets held for sale <br> and ROU asset | 372 |  |  |  | 12449 | 372 | 16430 |
| &nbsp;&nbsp;Merger-related expenses | 538 |  |  |  |  | 538 |  |
| &nbsp;&nbsp;Tax benefit on significant items | (118) |  |  |  | (3377) | (118) | (4462) |
| &nbsp;&nbsp;Adjusted tangible net income available to <br> common stockholders | $26329 | $21590 | $23149 | $22372 | $27331 | $93440 | $109117 |

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Byline Bancorp, Inc.

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**BYLINE BANCORP, INC. AND SUBSIDIARIES**

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Byline Bancorp, Inc.

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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 Three Months Ended** | **As of or For the Three Months Ended** | **As of or For the Three Months Ended** | **As of or For the Three Months Ended** | **As of or For the Twelve 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:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Pre-tax pre-provision net income | $37559 | $34637 | $32448 | $33918 | $21652 | $138562 | $125185 |
| &nbsp;&nbsp;Average total assets | 7266053 | 7137472 | 6966564 | 6697476 | 6699069 | 7018779 | 6642131 |
| &nbsp;&nbsp;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:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Adjusted pre-tax pre-provision net income | $38469 | $34637 | $32448 | $33918 | $34101 | $139472 | $141615 |
| &nbsp;&nbsp;Average total assets | 7266053 | 7137472 | 6966564 | 6697476 | 6699069 | 7018779 | 6642131 |
| &nbsp;&nbsp;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** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Net interest income, fully taxable equivalent | $76818 | $68863 | $61996 | $58567 | $61984 | $266245 | $237426 |
| &nbsp;&nbsp;Total average interest-earning assets | 6922890 | 6763916 | 6572416 | 6252866 | 6189762 | 6630464 | 6148841 |
| &nbsp;&nbsp;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:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Non-interest income | $11455 | $12043 | $14273 | $19543 | $19014 | $57314 | $74253 |
| &nbsp;&nbsp;Total revenues | 88059 | 80678 | 76033 | 77874 | 80742 | 322644 | 310640 |
| &nbsp;&nbsp;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:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Adjusted non-interest expense | $49590 | $46041 | $43585 | $43956 | $46641 | $183172 | $169025 |
| &nbsp;&nbsp;Average total assets | 7266053 | 7137472 | 6966564 | 6697476 | 6699069 | 7018779 | 6642131 |
| &nbsp;&nbsp;Adjusted non-interest expense to average assets | 2.71% | 2.56% | 2.51% | 2.66% | 2.76% | 2.61% | 2.54% |
| **Adjusted efficiency ratio:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Adjusted non-interest expense excluding <br> amortization of intangible assets | $47994 | $44430 | $41717 | $42360 | $44903 | $176501 | $161952 |
| &nbsp;&nbsp;Total revenues | 88059 | 80678 | 76033 | 77874 | 80742 | 322644 | 310640 |
| &nbsp;&nbsp;Adjusted efficiency ratio | 54.50% | 55.07% | 54.87% | 54.40% | 55.61% | 54.70% | 52.14% |
| **Adjusted return on average assets:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Adjusted net income | $25159 | $20409 | $21780 | $21398 | $26261 | $88746 | $104753 |
| &nbsp;&nbsp;Average total assets | 7266053 | 7137472 | 6966564 | 6697476 | 6699069 | 7018779 | 6642131 |
| &nbsp;&nbsp;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:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Adjusted net income | $25159 | $20409 | $21780 | $21398 | $26261 | $88746 | $104753 |
| &nbsp;&nbsp;Average stockholders' equity | 748292 | 765821 | 769658 | 822053 | 838975 | 776225 | 820017 |
| &nbsp;&nbsp;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:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Tangible common equity | $606929 | $575321 | $593555 | $613698 | $660386 | $606929 | $660386 |
| &nbsp;&nbsp;Tangible assets | 7204054 | 7106793 | 6961936 | 6661496 | 6530614 | 7204054 | 6530614 |
| &nbsp;&nbsp;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:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Tangible net income available to common <br> stockholders | $25537 | $21590 | $23149 | $22372 | $18259 | $92648 | $97149 |
| &nbsp;&nbsp;Average tangible common stockholders' equity | 588612 | 604529 | 606590 | 647242 | 662141 | 611563 | 640537 |
| &nbsp;&nbsp;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:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Adjusted tangible net income available to<br> common stockholders | $26329 | $21590 | $23149 | $22372 | $27331 | $93440 | $109117 |
| &nbsp;&nbsp;Average tangible common stockholders' equity | 588612 | 604529 | 606590 | 647242 | 662141 | 611563 | 640537 |
| &nbsp;&nbsp;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:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Tangible common equity | $606929 | $575321 | $593555 | $613698 | $660386 | $606929 | $660386 |
| &nbsp;&nbsp;Common shares outstanding | 37492775 | 37465902 | 37669102 | 37811582 | 37713903 | 37492775 | 37713903 |
| &nbsp;&nbsp;Tangible book value per share | $16.19 | $15.36 | $15.76 | $16.23 | $17.51 | $16.19 | $17.51 |

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## Exhibit 99.2

![Slide 1](by-ex99_2s1.jpg)

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

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![Slide 2](by-ex99_2s2.jpg)

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.

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![Slide 3](by-ex99_2s3.jpg)

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.

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![Slide 4](by-ex99_2s4.jpg)

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.

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![Slide 5](by-ex99_2s5.jpg)

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

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![Slide 6](by-ex99_2s6.jpg)

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%

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![Slide 7](by-ex99_2s7.jpg)

(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

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![Slide 8](by-ex99_2s8.jpg)

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%

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![Slide 9](by-ex99_2s9.jpg)

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%

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![Slide 10](by-ex99_2s10.jpg)

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

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![Slide 11](by-ex99_2s11.jpg)

(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

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![Slide 12](by-ex99_2s12.jpg)

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

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![Slide 13](by-ex99_2s13.jpg)

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

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![Slide 14](by-ex99_2s14.jpg)

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%

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![Slide 15](by-ex99_2s15.jpg)

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

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![Slide 16](by-ex99_2s16.jpg)

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

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![Slide 17](by-ex99_2s17.jpg)

4Q22 Earnings Presentation Appendix

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![Slide 18](by-ex99_2s18.jpg)

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

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![Slide 19](by-ex99_2s19.jpg)

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 September 30, 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

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![Slide 20](by-ex99_2s20.jpg)

Non-GAAP Reconciliation (continued) 20 As of or For the Three Months Ended Recast Recast Recast (dollars in thousands) December 31, 2022 September 30, 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

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Non-GAAP Reconciliation (continued) 21 As of or For the Three Months Ended Recast Recast Recast (dollars in thousands) December 31, 2022 September 30, 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

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![Slide 22](by-ex99_2s22.jpg)

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 September 30, 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%

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![Slide 23](by-ex99_2s23.jpg)

Non-GAAP Reconciliation (continued) 23 As of or For the Three Months Ended Recast Recast Recast December 31, 2022 September 30, 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%

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![Slide 24](by-ex99_2s24.jpg)

### Attached PDF Documents

**Attachment 1:** `by-ex99_2.pdf`

Exhibit 99.2

![img-0.jpeg](img-0.jpeg)

January 26, 2022

# Byline Bancorp, Inc.

4Q22 Earnings Presentation

# 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.

![BY logo]() Byline Bancorp, Inc. | 2 |

# Full Year 2022 Summary

BY

## 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

$322.6 million

↑ 4% Y/Y

### EPS

$2.34

↓ 3% Y/Y

### Efficiency ratio

54.99%

↑ Improved 228 bps Y/Y

### Total Assets

$7.4 billion

↑ 10% Y/Y

### Total Loans and Leases

$5.4 billion

↑ 19% Y/Y

### Total Deposits

$5.7 billion

↑ 10% Y/Y

(1) Represents a non-GAAP financial measure. See “Non-GAAP Reconciliation” in the appendix.

BY Byline Bancorp, Inc. | 3 |

# Fourth Quarter 2022 Highlights

Net Income & EPS

$24.4 million
$0.65 per diluted share

PTPP

$37.6 million
2.05% PTPP ROA

ROAA & ROTCE(1)

1.33% ROAA
17.21% ROTCE

Profitability

- 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

Credit Quality

- 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

Capital

- 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

Byline Bancorp, Inc. | 4 |

# Pre-Tax Pre-Provision Net Income ($ in millions)

![BY logo]()

As we are **investing in people** and **technology** with the goal of improving growth and efficiency...

Quarterly Pre-Tax Pre-Provision Net Income and ROAA$^{(1)}$

![img-1.jpeg](img-1.jpeg)

...our strategy is producing **record PTPP**; driving **sustained profitability** and **delivering positive operating leverage**

Annual Pre-Tax Pre-Provision Net Income and ROAA$^{(1)}$

![img-2.jpeg](img-2.jpeg)

(1) Represents a non-GAAP financial measure. See 'Non-GAAP Reconciliation' in the appendix.

![BY logo]() Byline Bancorp, Inc. | 5 |

# Loan and Lease Trends ($ in millions)

BY

## Total Loans & Leases and Average Yield

![img-3.jpeg](img-3.jpeg)

## Highlights

- 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

## Portfolio Composition

![img-4.jpeg](img-4.jpeg)

## Repricing Mix

![img-5.jpeg](img-5.jpeg)

## Originations and Payoffs(1)

![img-6.jpeg](img-6.jpeg)

(1) Excludes PPP Loans.

BY Byline Bancorp, Inc. | 6 |

# Government-Guaranteed Lending ($ in millions)

## On Balance Sheet SBA 7(a) & USDA Loans

|  | $ 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

![img-7.jpeg](img-7.jpeg)

## Highlights

- 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

## Total SBC Closed Loan Commitments

![img-8.jpeg](img-8.jpeg)

(1) Represents sectors with less than 5% of the total portfolio.

BY Byline Bancorp, Inc. | 7 |

# Deposit Trends ($ in millions)

BY

## Deposit Composition

![img-9.jpeg](img-9.jpeg)

## Average Non-Interest Bearing Deposits

![img-10.jpeg](img-10.jpeg)

## Highlights

- 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%

## Cost of Interest Bearing Deposits

![img-11.jpeg](img-11.jpeg)

(1) Beta calculation is based on change in deposit cost divided by change in Fed Funds from 4Q21 to 4Q22.

BY Byline Bancorp, Inc. | 8 |

# Net Interest Income and Net Interest Margin Trends

BY

Net Interest Income

![img-12.jpeg](img-12.jpeg)

Highlights

- 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, Yields, and Costs

![img-13.jpeg](img-13.jpeg)

NIM Bridge

![img-14.jpeg](img-14.jpeg)

BY Byline Bancorp, Inc. | 9 |

# Non-Interest Income Trends ($ in millions)

## Total Non-Interest Income

![img-15.jpeg](img-15.jpeg)

## Net Gains on Sales of Loans

![img-16.jpeg](img-16.jpeg)

## Highlights

- 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

### 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

## Volume Sold and Average Net Premiums

![img-17.jpeg](img-17.jpeg)

BY Byline Bancorp, Inc. | 10

# Non-Interest Expense Trends ($ in millions)

BY

## Non-Interest Expense

![img-0.jpeg](img-0.jpeg)

## Efficiency Ratio

![img-1.jpeg](img-1.jpeg)

(1) Represents a non-GAAP financial measure. See "Non-GAAP Reconciliation" in the appendix.

## Highlights

- 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

**Prudent and disciplined expense management** to drive full-year positive operating leverage while investing for the future

- Balancing continuous improvements and investing for growth
- Balancing physical branch presence with digital offerings

BY Byline Bancorp, Inc. | 11

# Asset Quality Trends ($ in millions)

BY

## Net Charge-offs

![img-2.jpeg](img-2.jpeg)

## Highlights

- 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

## NPLs / Total Loans & Leases

![img-3.jpeg](img-3.jpeg)

## Delinquencies

![img-4.jpeg](img-4.jpeg)

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.

BY Byline Bancorp, Inc. | 12

# CECL Adoption ($ in thousands)

BY

## CECL Adoption Change ACL - Loans and Leases

![img-5.jpeg](img-5.jpeg)

## 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 |

## 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

(1) Excludes unfunded commitments.

(2) In addition to the cumulative adjustment to retained for loans and leases, there was also an adjustment for unfunded commitments of $1,179.

BY Byline Bancorp, Inc. | 13 |

# CECL Adoption ($ in thousands)

![img-6.jpeg](img-6.jpeg)

## CECL Adoption - Allocation by Loan Classification

Allowance for Credit Losses for the Year ended December 31, 2022

| 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 |

## 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% |

## ACL-to-Gross Loans - CECL vs. Incurred Loss

![img-7.jpeg](img-7.jpeg)

(1) Excludes unfunded commitments.

BY | Byline Bancorp, Inc. | 14

# Strong Liquidity and Capital Position

BY

## Capital Ratios

![img-8.jpeg](img-8.jpeg)

## Common Equity Tier 1

## Return on Average Tangible Common Equity

![img-9.jpeg](img-9.jpeg)

## Highlights

- $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% | TCE excluding AOCI / TA(1): 9.90%

## Capital Returns to Stockholders

- 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

Total Payout (Dividend & Share Rep.) 35.1% YTD

(1) As reported prior to CECL adoption.

(2) Represents a non-GAAP financial measure. See "Non-GAAP Reconciliation" in the appendix.

BY Byline Bancorp, Inc. | 15

# 2023 Strategic Priorities and Near-Term Outlook

![img-10.jpeg](img-10.jpeg)

Commercial banking strategy focused on organic loan and deposit growth

![img-11.jpeg](img-11.jpeg)

Disciplined loan and deposit pricing

![img-12.jpeg](img-12.jpeg)

Investing in digital capabilities and automation

Maintain credit discipline and strong asset quality

![img-13.jpeg](img-13.jpeg)

Opportunistic M&A and talent additions

Maintain a strong balance sheet and capital flexibility

BY Byline Bancorp, Inc. | 16 |

![img-14.jpeg](img-14.jpeg)

## 4Q22 Earnings Presentation Appendix

![BY logo]() Byline Bancorp, Inc.

**BY**  
LISTED  
**NYSE**

# Five Quarter Financial Summary

![img-15.jpeg](img-15.jpeg)

| (dollars in thousands, except per share data) | As of or For the Three Months Ended |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
|  | December 31, 2022 | Recast September 30, 2022 | Recast June 30, 2022 | Recast March 31, 2022 | December 31, 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 |

(1) Represents a non-GAAP financial measure. See 'Non-GAAP Reconciliation' in the appendix.

![BY logo]() **BY** Byline Bancorp, Inc. | 18 |

# Non-GAAP Reconciliation

|  | As of or For the Three Months Ended |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
|  | December 31, 2022 | Recast September 30, 2022 | Recast June 30, 2022 | Recast March 31, 2022 | December 31, 2021 |
| (dollars in thousands, except per share data) |  |  |  |  |  |
| 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 |

BY Byline Bancorp, Inc. | 19 |

# Non-GAAP Reconciliation *(continued)*

| (dollars in thousands) | As of or For the Three Months Ended |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
|  | December 31, 2022 | Recast September 30, 2022 | Recast June 30, 2022 | Recast 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 |

![BY logo]() Byline Bancorp, Inc. | 20

# Non-GAAP Reconciliation (continued)

|  | As of or For the Three Months Ended |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
|  | December 31, 2022 | Recast September 30, 2022 | Recast June 30, 2022 | Recast March 31, 2022 | December 31, 2021 |
| (dollars in thousands) |  |  |  |  |  |
| 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 |

BY Byline Bancorp, Inc. | 21

# Non-GAAP Reconciliation *(continued)*

| (dollars in thousands, except share and per share data, ratios annualized, where applicable) | As of or For the Three Months Ended |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
|  | December 31, 2022 | Recast September 30, 2022 | Recast June 30, 2022 | Recast 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% |

![BY logo]() Byline Bancorp, Inc. | 22

# Non-GAAP Reconciliation *(continued)*

|  | As of or For the Three Months Ended |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
|  | December 31, 2022 | Recast September 30, 2022 | Recast June 30, 2022 | Recast 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% |

![BY logo]() Byline Bancorp, Inc. | 23 |

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