secwatch.observer — SEC 8-K summary
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Issuer:     BYLINE BANCORP, INC. (BY)
CIK:        0001702750
Form:       8-K
Filed at:   2026-10-06T20:15:16+00:00
Accession:  0001193125-26-415585
Event type: m_and_a
Sentiment:  positive
Materiality: 0.60
Item codes: 7.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1702750/000119312526415585/0001193125-26-415585-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1702750/000119312526415585/by-20261006.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-415585

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