Top officials of Byline Bank, the new owners of Evanston’s First Bank & Trust, offered some advice Thursday to customers and stockholders of their latest acquisition.
That advice was to sit tight and conduct their banking business as usual.
In the words of Alberto J. Paracchini, Byline’s president and chief executive officer, customers should continue to manage their banking relationship with Byline in the same manner as they have been doing with First Bank.
Byline Bancorp Inc. board chairman Herencia
The merger of the Evanston bank into Byline became effective at the close of business May 31, following approval by regulatory authorities and shareholders of both institutions.
First Evanston shareholders, many of whom are Evanston residents, will have a modest amount of paperwork to handle as they become full shareholders of Byline Bancorp, Inc., the parent company of Byline Bank, but they will soon be advised about the actions that will be required of them, Paracchini said.
Former First Evanston CEO Yohanan
Parrachini and Byline Bancorp board chairman Roberto R. Herencia, were standing alongside Robert Yohanan, founder and former CEO of First Evanston Bancorp Inc., at a meet-and-greet reception at First Bank’s principal office at 820 Church St. Thursday afternoon.
Parrachini’s main office will continue to be in downtown Chicago, but he will also have an office in Evanston, as will Yohanan.
As for changing the signage at First Bank’s offices to reflect the new name, that may not be completed until sometime next year, Parrachini said.