CHICAGO (AP) _ Byline Bancorp Inc. (BY) on Thursday reported first-quarter earnings of $3 million.
The Chicago-based bank said it had earnings of 7 cents per share. Earnings, adjusted for asset impairment costs, came to 9 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The bank holding company posted revenue of $72.3 million in the period. Its revenue net of interest expense was $62 million, which also missed Street forecasts. Three analysts surveyed by Zacks expected $64.5 million.
Byline Bancorp shares have dropped 37% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $12.32, a decrease of 39% in the last 12 months.