Byline Financial Group Climbs Monitor 100 List as a Top Lender in 2023
Byline Financial Group's strong performance affirms accelerated growth
Submitted by Leslie Kaufman
Byline Financial Group continues to make gains on the Monitor 100 as one of the top U.S. equipment finance companies thanks to its fast-growing equipment finance division. Byline Financial Group's year-over-year total assets grew by 46% in 2022, landing Byline Financial Group at No. 80 of this year's Monitor 100 list, moving up from No. 84 on last year's list.
In the past year, Byline Financial Group grew its assets to $523.6 million in 2022 from $357.8 million in 2021. New business volume jumped from $249 million in 2021 to $324.7 million in 2022. Lyndon Thompson, president at Byline Financial Group, credits this success to the ability of his team to make decisions quickly - even in a volatile interest rate environment - and then convert those approved transactions into funded deals.
"It has been an incredible journey expanding established national operations in all 50 states, helping more customers access the capital they need, which can be credited to the efforts from our hardworking team," Thompson said. "We have been very successful working with manufacturers, dealers and end-user customers that require access to reliable, quick funding, and we are proud to be a partner in their continued success."
Byline Financial Group, a wholly owned subsidiary of Byline Bank, is a full-service national commercial financing business servicing all aspects of the transaction, from inception to termination, under one roof in Bannockburn, IL. Alongside Thompson, Amy Fisher, Dale Kiser, Brian Wunsch, Robert Condon, Sue Herndon and Steve Ginsberg lead the group, making quick informed decisions, acting on trends swiftly and remaining focused on exceptional service paired with speed.
The Monitor 100 is published by MonitorDaily, a leading publication in the equipment finance industry. The list is an annual report of the largest equipment finance and leasing companies in the United States. More information about the Monitor 100 is available at monitordaily.com.
About Byline Bancorp, Inc.
Headquartered in Chicago, Byline Bancorp, Inc. (NYSE: BY) is the parent company of Byline Bank, a full service commercial bank serving small- and medium-sized businesses, financial sponsors, and consumers. Byline Bank has approximately $8.9 billion in assets and operates 48 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 Small Business Administration lenders in the United States. ©2023 Byline Bank. All rights reserved. Member FDIC. Equal Housing Lender.