secwatch.observer — SEC 8-K summary
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Issuer:     BYLINE BANCORP, INC. (BY)
CIK:        0001702750
Form:       8-K
Filed at:   2024-10-01T23:59:59+00:00
Accession:  0000950170-24-110474
Event type: m_and_a
Sentiment:  positive
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Byline Bancorp to acquire First Security Bancorp for ~$41M in cash and stock
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- Deal valued at ~$41M; Byline issues 2.1794 shares per First Security share (~1.5M shares) plus ~$2.6M cash for preferred.
- First Security has $354.8M in assets, $201.4M in loans, $321.8M in deposits as of June 30, 2024.
- Merger expected to close in Q2 2025, subject to regulatory and stockholder approvals.
- Transaction solidifies Byline as Chicago's largest community bank under $10B assets, with 45 branches.
- Boards of both companies unanimously approved the deal.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1702750/000095017024110474/0000950170-24-110474-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1702750/000095017024110474/by-20240930.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-110474

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer