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Acquisition of a Business (Tables) | 12 Months Ended
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Dec. 31, 2019
Business Combinations [Abstract] |
Summary of Estimates Fair Values of Assets and Liabilities Assumed as of Acquisition Date | The following table presents a summary of the estimated fair values of assets acquired and liabilities assumed as of the acquisition date:
|  | Preliminary Estimates April 30, 2019 Oak Park River Forest |  |  | May 31, 2018 First Evanston |
Assets |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 10,469 |  |  | $ | 47,378 |
Securities available-for-sale |  |  | 30,343 |  |  |  | 128,063 |
Restricted stock |  |  | 414 |  |  |  | 1,360 |
Loans |  |  | 257,423 |  |  |  | 916,011 |
Premises and equipment |  |  | 3,488 |  |  |  | 15,890 |
Other real estate owned |  |  | 2,201 |  |  |  | — |
Other intangible assets |  |  | 6,220 |  |  |  | 22,276 |
Bank-owned life insurance |  |  | 3,485 |  |  |  | — |
Deferred tax assets, net |  |  | 5,925 |  |  |  | 2,302 |
Other assets |  |  | 1,231 |  |  |  | 8,845 |
Total assets acquired |  |  | 321,199 |  |  |  | 1,142,125 |
Liabilities |  |  |  |  |  |  |  |
Deposits |  |  | 290,171 |  |  |  | 1,022,268 |
Line of credit |  |  | 5,655 |  |  |  | — |
Federal Home Loan Bank advances |  |  | 5,300 |  |  |  | — |
Junior subordinated debentures |  |  | — |  |  |  | 8,497 |
Accrued expenses and other liabilities |  |  | 4,766 |  |  |  | 5,844 |
Total liabilities assumed |  |  | 305,892 |  |  |  | 1,036,609 |
Net assets acquired |  | $ | 15,307 |  |  | $ | 105,516 |
Consideration paid |  |  |  |  |  |  |  |
Common stock (2019 - 1,464,558 shares issued at $20.02 per share, 2018 - 6,682,850 shares issued at $21.62 per share) |  |  | 29,320 |  |  |  | 144,483 |
Outstanding stock options converted to Byline stock options |  |  | — |  |  |  | 7,644 |
Cash paid |  |  | 6,163 |  |  |  | 27,004 |
Total consideration paid |  |  | 35,483 |  |  |  | 179,131 |
Goodwill |  | $ | 20,176 |  |  | $ | 73,615 |
Summary of Acquired Non-Impaired Loans as of Acquisition Date | The following table presents the acquired non-impaired loans as of the acquisition date:
|  | Preliminary Estimates April 30, 2019 Oak Park River Forest |  |  | May 31, 2018 First Evanston |
Fair value |  | $ | 204,496 |  |  | $ | 890,986 |
Gross contractual amounts receivable |  |  | 254,755 |  |  |  | 1,057,374 |
Estimate of contractual cash flows not expected to be collected(1) |  |  | 12,987 |  |  |  | 36,544 |
Estimate of contractual cash flows expected to be collected |  |  | 241,768 |  |  |  | 1,020,830 |
(1) | Includes interest payments not expected to be collected due to loan prepayments as well as principal and interest payments not expected to be collected due to customer default.
Summary of Pro Forma Information for Results of Operations | The following table provides the pro forma information for the results of operations for the years ended December 31, 2019 and 2018, as if the acquisitions had occurred on January 1, 2018. The pro forma results combine the historical results of First Evanston and Oak Park River Forest into the Company’s Consolidated Statements of Operations, including the impact of certain acquisition accounting adjustments, which includes loan discount accretion, intangible assets amortization, deposit premium accretion and borrowing net discount amortization. The pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the results that would have been obtained had the acquisitions actually occurred on January 1, 2018. No assumptions have been applied to the pro forma results of operations regarding possible revenue enhancements, provision for credit losses, expense efficiencies or asset dispositions. The acquisition-related expenses that have been recognized are included in net income in the following table.
|  | Years ended December 31, |
|  | 2019 |  |  | 2018 |
Total revenues (net interest income and non-interest income) |  | $ | 272,081 |  |  | $ | 274,108 |
Net income |  |  | 57,797 |  |  |  | 61,356 |
Earnings per share—basic |  |  | 1.47 |  |  |  | 1.61 |
Earnings per share—diluted |  |  | 1.45 |  |  |  | 1.57 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472 + Details
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