Business Context and Reporting Period
Company: Byline Bancorp, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: August 30, 2019
Principal Executive Offices: Chicago, Illinois
This filing updates the unaudited pro forma combined condensed consolidated financial information regarding the acquisition of First Evanston Bancorp, Inc. ("First Evanston"), which was completed on May 31, 2018. The update extends the previously filed pro forma data through the year ended December 31, 2018.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. Instead, it references Exhibit 99.1, which contains the "Unaudited Pro Forma Combined Condensed Consolidated Statement of Operations of Byline Bancorp, Inc. for the year ended December 31, 2018."
Investors must review the attached exhibit to obtain the specific financial figures resulting from the acquisition.
Material Changes
The primary material change reported is the update to the pro forma financial information. Previously, in an August 13, 2018 filing (Form 8-K/A), Byline provided pro forma data as of March 31, 2018, and for the year ended December 31, 2017. This current filing updates that information to include the full year ended December 31, 2018, giving effect to the acquisition of First Evanston.
Guidance, Outlook, and Risks
Management Commentary: The filing is a procedural update to satisfy Item 9.01 of Form 8-K regarding financial statements and exhibits. It does not contain forward-looking guidance, management outlook, or specific risk factors beyond the context of the acquisition integration.
Unusual Items: None reported in the text of this filing.
Investor Verification Checklist
- Review Exhibit 99.1 for the specific unaudited pro forma combined condensed consolidated statement of operations for the year ended December 31, 2018.
- Compare the updated pro forma figures against the actual historical results of Byline Bancorp, Inc. and First Evanston Bancorp, Inc. to assess the impact of the acquisition.
- Verify the assumptions used in the pro forma calculations as disclosed in the exhibit.