CHICAGO–(BUSINESS WIRE)–Byline Bancorp, Inc. (NYSE: BY), the parent company of Byline Bank,
announced today that it has completed its acquisition of Oak Park River
Forest Bankshares, Inc. (“Oak Park River Forest”). Oak Park River Forest
is the parent company of Community Bank of Oak Park River Forest
(“Community Bank”). The transaction brings Byline’s total assets to
approximately $5.3 billion, based on information as of March 31, 2019.
“We are very pleased to complete this transaction and welcome Community
Bank’s customers and employees to Byline,” said Alberto Paracchini,
President and Chief Executive Officer of Byline. “Oak Park and River
Forest are two important communities that will complement the Byline
franchise well. We look forward to providing the same high level of
service and relationship banking that Community Bank customers
appreciate and deserve.”
“As we begin this journey with Byline, we are pleased to know that our
combined organization will continue to be actively involved and
committed to the communities we serve,” said Walter F. Healy, President
and Chief Executive Officer of Community Bank of Oak Park River Forest.
“The added size will enable us to provide our customer convenient new
services and technologies, and enhanced resources to serve their needs.”
Under the terms of the merger agreement, each share of Oak Park River
Forest’s common stock was converted into the right to receive 7.9321
shares of Byline common stock and $33.38 in cash. The value of the total
merger consideration at closing was approximately $40.0 million.
About Byline Bancorp, Inc.
Headquartered in Chicago, Byline Bancorp, Inc. is the parent company for
Byline Bank, a full service commercial bank serving small- and
medium-sized businesses, financial sponsors, and consumers. Byline Bank
has approximately $5.3 billion in assets and operates more than 50 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 10 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 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.
Forward-looking statements speak only as of the date they are made, and
we assume no obligation to update any of these statements in light of
new information, future events or otherwise unless required under the
federal securities laws.
Contacts
Media
Erin O’Neill
Director of
Marketing, Byline Bank
[email protected]
773.475.2901
Investors
Allyson Pooley
Financial
Profiles, Inc.
[email protected]
310.622.8230
