Byline Bancorp, Inc. reported its financial results for the fourth quarter and full year 2024 on January 23, 2025. The company announced a net income of $30.3 million for the fourth quarter, translating to earnings of $0.69 per share. This represents a significant increase of $12.9 million, or 11.9%, in net income compared to the prior year's fourth quarter.
Net interest income for the fourth quarter reached $88.524 million, marking an increase of $17.4 million, or 5.3%, year-over-year. The net interest margin stood at 3.97%, reflecting effective management of interest-earning assets and interest-bearing liabilities. For the full year 2024, total revenue was US$379.9 million, an increase of 7.5% from fiscal year 2023.
In a further positive development for shareholders, Byline Bancorp announced an 11.1% increase in its dividend. These results highlight the company's ability to drive profitability and revenue growth, reinforcing its financial stability and commitment to shareholder returns amidst the current economic landscape.
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