09:25 AM EDT, 04/01/2025 (MT Newswires) -- Byline Bancorp ( BY ) said Tuesday it has completed its merger with First Security Bancorp in a deal valued at about $41.5 million.

Under the merger's terms, each share of First Security Bancorp's stock was converted into the right to receive 2.3539 Byline Bancorp ( BY ) common stock, while First Security's preferred shares were redeemed for about $2.4 million in cash before closing.

Byline said the deal brings Byline's total assets to about $9.8 billion, based on year-end 2024 figures.