Byline Bank Turned its Future from Bleak to Bright!
Guest: Alberto J. Paracchini, President, CEO & Director, Byline Bank
Podcast Show Notes:
Our This Month In Banking (TMIB) podcast features discussion with colleagues and other industry thought leaders on interesting banking news that happened this month. TMIB will be available on the last Wednesday of every month here, and on Apple and Droid podcast apps for your listening enjoyment. Join us on your commute, at your desk or at home.
Topic: Byline Bank Turned its Future from Bleak to Bright!
Insights from Alberto J. Paracchini, President, CEO & Director, Byline Bank
Byline Bank is a wholly owned subsidiary of Byline Bancorp, Inc. headquartered in Chicago. Byline and its predecessors have been operating in the Chicago market for over 100 years. In 2013, the Company was subject to recapitalization by a group of individual investors that brought a new Management team and Board to the Company. Prior to the recapitalization and after the Great Recession, the Company, then known as Metropolitan Bank Group, was struggling to survive due to poor credit quality, capital deterioration, operating issues and regulatory orders. The recapitalization brought forth new leadership, including the current CEO, Alberto J. Paracchini, who transformed the institution, addressed all regulatory concerns and restored growth and profitability.
Once the health of the Bank was restored, a strategy for growth was implemented. In October 2016, Byline completed the acquisition of Ridgestone Financial Services, Inc. In 2017, Byline executed an initial public offering, raising $125 million which enabled the Company to continue growing and acquiring other institutions. The Company acquired First Evanston Bancorp, Inc. in May 2018 and Oak Park River Forest Bankshares, Inc. in April 2019. Assets increased from $2.4 billion at December 31, 2013 to $5.4 billion at June 30, 2019. ROAA was 0.97% in 2018 and 1.01% year-to-date 6/30/2019, and capital levels remain strong.
Alberto J. Paracchini
Mr. Paracchini has served as President and CEO for Byline Bank since 2013. He has spent nearly 20 years in financial services and has held executive positions with numerous companies including Banco Popular North America, BXM Holdings, Inc., Popular Financial Holdings and E-Loan, an internet banking and mortgage company.
Alberto graduated from Marquette University and received his M.B.A., with honors, from the University of Chicago Booth School of Business, with a focus on Finance and Business Economics. He currently serves on the board for Junior Achievement of Chicago and is a member of the Cook County Council of Economic Advisors and Economic Club of Chicago.
He was born and raised in Puerto Rico and resides in Winnetka with his wife and family. Alberto has completed seven Ironman triathlons and continues to enjoy swimming, cycling and running.
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Watch for episode 46 of This Month in Banking to be released on Wednesday, October 30, 2019 and a new episode on the last Wednesday of every month.
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