BayCom Corp
For the period ended Mar 31, 2024. Filed May 10, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 10, 2024
BCML$31.29+0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Balance Sheets (unaudited)
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except for share data)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · March 31, · · December 31, | ||||||
| · 2024 · 2023 | ||||||
| ASSETS · · | ||||||
| Cash due from banks | | $20,379 | | $17,901 | ||
| Federal funds sold and interest-bearing balances in banks | | 327,953 | | 289,638 | ||
| Cash and cash equivalents | | | 348,332 | | 307,539 | |
| Time deposits in banks | | | 996 | | 1,245 | |
| Investment securities available-for-sale ("AFS"), at fair value, net of allowance for credit losses of $0 at both March 31, 2024 and December 31, 2023 | | | 167,919 | | 163,152 | |
| Equity securities | | | 13,158 | | | 12,585 |
| Federal Home Loan Bank ("FHLB") stock, at par | | | 11,313 | | 11,313 | |
| Federal Reserve Bank ("FRB") stock, at par | | | 9,630 | | 9,626 | |
| Loans held for sale | | | 1,684 | | — | |
| Loans, net of allowance for credit losses of $18,890 at March 31, 2024 and $22,000 at December 31, 2023 | | | 1,867,840 | | 1,905,829 | |
| Premises and equipment, net | | | 14,355 | | 13,734 | |
| Core deposit intangible, net | | | 3,610 | | 3,915 | |
| Cash surrender value of bank owned life insurance ("BOLI") policies, net | | | 23,044 | | 22,867 | |
| Right-of-use assets ("ROU"), net | | | 13,460 | | | 13,939 |
| Goodwill | | | 38,838 | | 38,838 | |
| Interest receivable and other assets | | | 46,530 | | 47,378 | |
| Total assets | | $2,560,709 | | $2,551,960 | ||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | |
| Noninterest and interest bearing deposits | | $2,142,907 | | $2,132,750 | ||
| Junior subordinated deferrable interest debentures, net | | 8,585 | | 8,565 | ||
| Subordinated debt, net | | | 63,609 | | | 63,881 |
| Salary continuation plan | | 4,667 | | 4,552 | ||
| Lease liabilities | | 14,321 | | 14,752 | ||
| Interest payable and other liabilities | | 12,385 | | 14,591 | ||
| Total liabilities | | 2,246,474 | | 2,239,091 | ||
| Commitments and contingencies (Note 17) | | | ||||
| Shareholders' equity | | | ||||
| Preferred stock, no par value; 10,000,000 shares authorized; no shares issued and outstanding at both March 31, 2024 and December 31, 2023 | | — | | — | ||
| Common stock, no par value; 100,000,000 shares authorized; 11,377,117 and 11,551,271 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively | | 177,075 | | 180,913 | ||
| Additional paid in capital | | 287 | | 287 | ||
| Accumulated other comprehensive loss, net of tax | | (14,108) | | (14,592) | ||
| Retained earnings | | 150,981 | | 146,261 | ||
| Total shareholders’ equity | | 314,235 | | 312,869 | ||
| Total liabilities and shareholders’ equity | | $2,560,709 | | $2,551,960 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.