---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-415585"
form_type: "8-K"
ticker: "BY"
cik: "0001702750"
company_name: "BYLINE BANCORP, INC."
filed_at: "2026-10-06T20:15:16+00:00"
generated_at: "2026-10-12T16:18:42.917986+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Byline to acquire Illinois State Bancorp in $87.9M cash-and-stock deal, expanding Chicago footprint

## Summary
- Deal valued at ~$87.9M: Byline will issue ~1.4M shares and pay $28.9M cash to Illinois State shareholders, plus ~$5.1M cash to settle outstanding stock options.
- $261.23 per Illinois State common share based on Byline's $37.63 closing price on Oct 5, 2026; fully diluted transaction value ~$87.9M.
- Illinois State had $617.3M assets, $470.5M loans and $510.5M deposits as of June 30, 2026; runs First Nations Bank and The Bank of Bourbonnais.
- Combined franchise: 48 branches, ~$10.5B assets, $8.0B loans, $8.4B deposits; deal expected to close Q1 2027 pending regulatory and shareholder approvals.
- Boards of both companies unanimously approved; D.A. Davidson advised Illinois State, Vedder Price advised Byline; CEOs Herencia and Barbi cited cultural fit and Chicago market density.

## SEC filing metadata
- accession: 0001193125-26-415585
- form_type: 8-K
- ticker: BY
- cik: 0001702750
- company_name: BYLINE BANCORP, INC.
- filed_at: 2026-10-06T20:15:16+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1702750/000119312526415585/0001193125-26-415585-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1702750/000119312526415585/by-20261006.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-415585
- JSON: https://secwatch.observer/filing/0001193125-26-415585.json
- Plain text: https://secwatch.observer/filing/0001193125-26-415585.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.