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Byline Bancorp To Acquire First Evanston

Published 11/28/2017, 09:47 AM
© Reuters.  Byline Bancorp To Acquire First Evanston
BY
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  • Byline Bancorp (NYSE:BY) +1.2% acquired First Evanston Bancorp in a cash and stock transaction valued at approximately $169M.
  • Each share of First Evanston’s common stock will be converted into the right to receive 3.994 shares of Byline common stock and an aggregate cash of $27.0M to stockholder of First Evanston.
  • The company currently estimates pre-tax expense reductions to be approx. 29% of First Evanston’s expense base.
  • The transaction is to be accretive to earnings in 2018 and 14.5% accretive in 2019, with an expected tangible book value per share dilution earn-back period of approximately 3.3 years using the “cross-over” method.
  • Press Release
  • Now read: Byline Bancorp 2017 Q3 - Results - Earnings Call Slides


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