Brief: Byline Bancorp And Inland Bancorp Announce Definitive Merger Agreement

Byline Bancorp

30/11/2022 21:58

Nov 30 (Reuters) - Byline Bancorp Inc  BY.N :
    * BYLINE BANCORP INC AND INLAND BANCORP INC ANNOUNCE
DEFINITIVE
MERGER AGREEMENT
    * INLAND BANCORP AND ITS UNIT, INLAND BANK AND TRUST, WILL
COMBINE
WITH CO IN A CASH AND STOCK TRANSACTION VALUED AT ABOUT $165
MILLION
    * BYLINE ESTIMATES PRE-TAX EXPENSE REDUCTIONS ASSOCIATED
WITH
TRANSACTION WILL BE APPROXIMATELY 30% OF INLAND BANCORP'S
EXPENSE BASE
    * TRANSACTION IS EXPECTED TO BE 8.1% ACCRETIVE TO BYLINE'S
EARNINGS PER SHARE IN 2023 AND 10.7% ACCRETIVE IN 2024

Source text for Eikon:  ID:nBwbszmLga 
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 ((Reuters.Briefs@thomsonreuters.com))