In This Article:
-
Net Income (Full Year 2024): $121 million or $2.75 per diluted share.
-
Revenue (Full Year 2024): $407 million, up 5% year-on-year.
-
Net Income (Q4 2024): $30.3 million or $0.69 per diluted share.
-
Revenue (Q4 2024): $105 million, up 3% from the prior quarter and 4% year-on-year.
-
Return on Assets (ROA): 131 basis points for both full year and Q4 2024.
-
Return on Tangible Common Equity (ROTCE): Just under 15% for the full year and just under 14% for Q4 2024.
-
Loan Growth (Full Year 2024): 3%, funded by a 4% increase in deposits.
-
Net Interest Margin (Q4 2024): 4.01%, up 13 basis points from the prior quarter.
-
Noninterest Income (Q4 2024): $16.1 million, up 12.3% from the prior quarter.
-
Efficiency Ratio (Q4 2024): 53.6%.
-
Allowance for Credit Losses (ACL): $98 million, with nonperforming loans at 90 basis points of total loans.
-
Common Equity Tier 1 (CET1) Ratio: 11.7%, up 35 basis points from the prior quarter.
-
Tangible Common Equity (TCE) Ratio: 9.61%.
-
Quarterly Dividend Increase: 11.1% increase from the previous dividend.
-
This Powerful Chart Made Peter Lynch 29% A Year For 13 Years
-
How to calculate the intrinsic value of a stock?
Release Date: January 24, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
-
Byline Bancorp Inc (NYSE:BY) reported strong results for the fourth quarter and full year 2024, with net income of $121 million and a 5% increase in revenue year-over-year.
-
The company achieved record profitability for the full year 2024 and increased its quarterly dividend by 11.1%.
-
Byline Bancorp Inc (NYSE:BY) maintained a strong asset quality with a decrease in non-performing loans and a stable allowance for credit losses.
-
The company successfully managed loan growth, with a 3% increase in loans funded by a 4% growth in deposits.
-
Capital levels remained robust, with CET1 at just under 12% and total capital at roughly 15%, allowing for early repayment of transaction-related balances.
Negative Points
-
The company faced a challenging rate environment, with a moderate decline in short-term rates impacting net interest income.
-
Payoff activity increased for the third consecutive quarter, which could potentially affect future loan growth.
-
Operating expenses rose to $57.4 million, driven by higher incentive accruals, leading to an increase in the efficiency ratio.
-
The SBA portfolio showed signs of gradual deterioration, requiring proactive management to mitigate risks.
-
The company anticipates continued volatility in net charge-offs, particularly related to the resolution of acquired loans.