The following represents the condensed financial statements of Byline Bancorp, Inc., the Parent Company:

Statements of Financial Condition

Parent Company Only

	As of December 31,
	2017		2016
ASSETS
Cash		39,626		9,965
Investment in banking subsidiary		445,786		419,801
Other assets		1,236		2,755
Total assets	$	486,648	$	432,521
LIABILITIES AND STOCKHOLDERS’ EQUITY
Line of credit		—		20,650
Junior subordinated debentures issued to capital trusts, net		27,647		26,926
Accrued expenses and other liabilities		423		2,287
Stockholders' equity		458,578		382,658
Total liabilities and stockholders' equity	$	486,648	$	432,521

Note 23—Parent Company Only Condensed Financial Statements (continued)

Statements of Operations

Parent Company Only

	Years ended December 31,
	2017			2016			2015
INCOME
Dividends from subsidiary	$	2,800		$	-		$	-
Other noninterest income		9			57			-
Total Income		2,809			57			—
EXPENSES
Interest expense		2,782			2,460			2,295
Other noninterest expense		1,804			381			312
Total Expenses		4,586			2,841			2,607
Loss before provision for income taxes and equity in undistributed income (loss) of subsidiary		(1,777	)		(2,784	)		(2,607	)
Provision (benefit) for income taxes		(1,166	)		204			8
Loss before equity in undistributed income (loss) of subsidiary		(611	)		(2,988	)		(2,615	)
Equity in undistributed income (loss) of subsidiary		22,306			69,717			(12,359	)
Net income (loss)	$	21,695		$	66,729		$	(14,974	)

Statements of Cash Flows

Parent Company Only

	Years ended December 31,
	2017			2016			2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$	21,695		$	66,729		$	(14,974	)
Adjustments to reconcile net income (loss) to net cash from operating activities:
Equity in undistributed income (loss) of subsidiary		(22,306	)		(69,717	)		12,359
Stock-based compensation expense		1,497			899			1,045
Exercise of share-based awards		—			40			—
Accretion of junior subordinated debentures discount		721			876			944
Changes in other assets and other liabilities		(2,893	)		16			(5,546	)
Net cash used in operating activities		(1,286	)		(1,157	)		(6,172	)
CASH FLOWS FROM INVESTING ACTIVITIES
Investments in and advances from subsidiary		—			(32,019	)		—
Net cash paid in acquisition of business		—			(36,586	)		—
Net cash used in investing activities		—			(68,605	)		—
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from revolving line of credit		—			30,000			—
Repayments of revolving line of credit		(20,650	)		(9,350	)		—
Dividends paid on preferred stock		(11,277	)		—			—
Cash paid in lieu of fractional shares		(2	)		—			—
Proceeds from issuance of common stock, net		76,829			49,592			—
Proceeds from issuance of preferred stock		1,050			9,388
Repurchase of preferred stock		(15,003	)		—			—
Net cash provided by financing activities		30,947			79,630			—
NET CHANGE IN CASH AND CASH EQUIVALENTS		29,661			9,868			(6,172	)
CASH AND CASH EQUIVALENTS, beginning of period		9,965			97			6,269
CASH AND CASH EQUIVALENTS, end of period	$	39,626		$	9,965		$	97