Byline Bank is headquartered in CHICAGO and is the 6th largest bank in the state of Illinois. It is also the 165th largest bank in the nation. It was established in 1972 and as of March of 2025, it had grown to 1,032 employees at 56 locations. Byline Bank's money market rates are 9X the national average, and it has an A health rating.
Unprofessional Handling Of Check Deposit And Funds Availability
I've had a highly disappointing experience with Byline Bank, Elmwood Park branch. In March, I deposited a $1,200 check that cleared without a hitch. However, my subsequent $7,500 deposit was mishandled. Despite being a former teller and understanding the need for overnight processing, the branch promised availability by Tuesday. Come Tuesday, while I could withdraw $1,500, I later discovered online that only $5,000 of my deposit was accessible, contrary to what was initially stated.
Upon confronting the branch manager, who I've built a rapport with, I received mixed messages about immediate availability of deposited checks, which was not the case for my Saturday deposit. The delay and subsequent hold on $2,400 of my money without clear communication is inexcusable.
Customer service directed me back to the manager for resolution. Despite leaving a voicemail, the manager failed to follow up as promised. It took an in-person visit on Friday for her to initiate the release of my funds, which should have been within her immediate power.
This level of unprofessionalism is unacceptable. My business regularly deposits large checks, and if $7,500 is treated with such unwarranted suspicion and delay, I dread to think how a larger deposit would be handled. I expect better, especially given my established relationship with the bank manager. Seem like the check became available and the bank put an additional hold on the funds. Such practices are not conducive to a successful banking relationship. I strongly urge immediate improvement in communication and professionalism at this branch.
VERY Low Dollar Transfer Limits
I was planning on opening an account, but their website did not disclose the daily/monthly dollar transfer limits. So, I called them. It is $2,000 / day up to $5,000 / month. What! That's absurd and is a deal-breaker in my opinion.
Data as of Q1 2025
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 20624 |
| Year Established | 1972 |
| Employees | 1032 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.29% |
| Return on Equity - YTD | 10.16% |
| Annual Interest Income | $134.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $9.57B$9.4B |
| Loans | Q1 2025vs Q1 2024 | $6.95B$6.7B |
| Deposits | Q1 2025vs Q1 2024 | $7.58B$7.38B |
| Equity Capital | Q1 2025vs Q1 2024 | $1.23B$1.13B |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $100.4MM$102.4MM |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $42.8MM$59.9MM |
| Real Estate Owned | Q1 2025vs Q1 2024 | $6.2MM$785K |
