Byline Bancorp to Acquire Illinois State Bancorp for ~$87.9M

Byline Bancorp has agreed to acquire Illinois State Bancorp in a cash-and-stock deal valued at approximately $87.9 million. The acquisition involves issuing around 1.4 million shares and $28.9 million in cash, plus $5.1 million for option settlement. The deal is expected to close in the first quarter of 2027, pending necessary approvals.