Breaking News Bar
updated: 6/1/2018 2:19 PM

Byline Bancorp completes acquisition of First Evanston Bancorp

hello
Success - Article sent! close
  • Byline Bancorp Inc., the holding company of Byline Bank, announced that it has completed its acquisition of First Evanston Bancorp Inc., the parent company of First Bank & Trust.

    Byline Bancorp Inc., the holding company of Byline Bank, announced that it has completed its acquisition of First Evanston Bancorp Inc., the parent company of First Bank & Trust.
    AP file Photo/LM Otero

 
Business Wire

Byline Bancorp Inc., the holding company of Byline Bank, today announced that it has completed its acquisition of First Evanston Bancorp Inc., the parent company of First Bank & Trust.

As a result of the transaction, First Bank & Trust has now merged into Byline Bank. The transaction brings Byline's total assets to approximately $4.4 billion.

"We are excited to welcome First Bank and Trust customers and employees to the Byline team," said Alberto Paracchini, President and CEO of Byline Bank. "Together we are focused on providing a first rate experience for our customers and impassioned support for our communities."

The value of the total merger consideration at closing was approximately $178.6 million.

Also in connection with the closing of the transaction, Robert R. Yohanan, First Evanston's chief executive officer, was appointed to the board of directors of Byline and Byline Bank.

Headquartered in Chicago, Byline Bancorp Inc. is a full service commercial bank serving small- and medium-sized businesses, financial sponsors and consumers.

It 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.

Article Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.