Byline Bancorp Announces Merger with First Security

An update from Byline Bancorp ( (BY) ) is now available.

Byline Bancorp, Inc. has announced a definitive merger agreement with First Security Bancorp, Inc., which includes the acquisition of First Security’s wholly owned subsidiary, First Security Trust and Savings Bank. The cash and stock transaction is valued at about $41 million based on Byline’s recent stock price. This merger will significantly expand Byline’s presence in the Chicago area, establishing it as the city’s largest community bank with assets under $10 billion. The deal, already approved by both companies’ boards, is expected to close in the second quarter of 2025 pending regulatory and shareholder approval.

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