Banking Giants Join Forces

  • Byline Bancorp and First Security Bancorp agree to a merger deal
  • The deal values at $38.4 million based on Byline’s closing price of $26.16 on Sept. 27
  • Byline will issue 2.1794 shares of its common stock for each share of First Security stock
  • The deal is worth $41 million in cash and stock
  • Both companies’ boards have approved the deal
  • Expected to close during Q2 2025

Byline Bancorp and First Security Bancorp have agreed to a merger deal worth $41 million in cash and stock. Byline, the parent company of Byline Bank, will distribute about 1.5 million shares to First Security common stockholders at a value of approximately $38.4 million based on its closing price of $26.16 on Sept. 27. The deal, which has been approved by both companies’ boards, is expected to close during the second quarter of 2025.

Factuality Level: 10
Factuality Justification: The article provides accurate information about a merger deal between Byline Bancorp and First Security Bancorp, including details such as the number of shares to be distributed, the value of the deal, and the expected closing date. It also mentions the companies involved and their respective roles in the transaction. The information is relevant, concise, and objective.
Noise Level: 1
Noise Justification: The article provides basic information about a merger deal between two financial institutions without any analysis or exploration of potential consequences or implications for stakeholders.
Public Companies: Byline Bancorp (BY)
Private Companies: First Security Bancorp
Key People: Stephen Nakrosis (Author)

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Financial Relevance: Yes
Financial Markets Impacted: The merger deal between Byline Bancorp and First Security Bancorp will impact the financial markets by affecting the stocks of both companies involved, as well as potentially influencing the banking industry.
Financial Rating Justification: This article discusses a merger deal between two banks, which is a significant event in the financial sector. It also mentions the value of the deal and its expected closure date, indicating that it has an impact on the stocks of both companies and possibly the broader banking industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There are no extreme events mentioned in the article.
Deal Size: 38400000
Move Size: No market move size mentioned.
Sector: Finance
Direction: Up
Magnitude: Medium
Affected Instruments: Stocks

Reported publicly: www.marketwatch.com