BayCom Corp

For the period ended Mar 31, 2024. Filed May 10, 2024.

About this filing

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

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Contents

Condensed Consolidated Statements of Cash Flows (unaudited)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS


· · Three months ended ·
· · March 31, ·
· 2024 · 2023 ·
· · · · · (As Restated) · ·
Cash flows from operating activities: · · ·
Net income	$5,877	$7,191
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	252	275
Deferred tax expense	1,909	1,681
Accretion on acquired loans	(38)	(893)
Gain on sale of loans	—	(412)
Proceeds from sale of loans	—	8,497
Loans originated for sale	—	(6,372)
Accretion on junior subordinated debentures	20	20
Gain on repayment of subordinated debt, net	34	—
Increase in cash surrender value of life insurance policies	(177)	(166)
Amortization/accretion of premiums/discounts on investment securities, net	36	113
(Gain) loss on equity securities	(573)	896
Depreciation and amortization	491	453
Core deposit intangible amortization	305	369
Stock based compensation expense	160	250
Increase (decrease) in deferred loan origination fees, net	64	(66)
Net change in interest receivable and other assets	(811)	1,317
Increase in salary continuation plan, net	115	81
Net change in interest payable and other liabilities	(2,581)	(5,046)
Net cash provided by operating activities	5,083	8,188
Cash flows from investing activities:
Proceeds from maturities of interest bearing deposits in banks	249	—
Purchase of investment securities AFS	(7,132)	(1,500)
Proceeds from maturities, repayments and calls of investment securities AFS	3,025	1,170
Purchase of FRB stock	(4)	(7)
Decrease (increase) in loans, net	36,027	(20,560)
Purchase of equipment and leasehold improvements, net	(1,143)	(148)
Net cash provided by (used in) investing activities	31,022	(21,045)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS – (continued)


· · Three months ended
· · March 31,
· 2024 · 2023
· · · · · (As Restated) ·
Cash flows from financing activities: · ·
Decrease in noninterest and interest bearing deposits in banks, net	(26,816)	(54,301)
Increase in time deposits, net	36,973	96,591
Repayment of subordinated debt, net	(315)	—
Repurchase of common stock	(3,998)	(8,066)
Dividends paid on common stock	(1,156)	(644)
Net cash provided by financing activities	4,688	33,580
Increase in cash and cash equivalents	40,793	20,723
Cash and cash equivalents at beginning of period	307,539	176,815
Cash and cash equivalents at end of period	$348,332	$197,538

Supplemental disclosure of cash flow information:
Cash paid during the year for:
Interest expense	$9,673	$5,108
Income taxes paid, net	—	10
Recognition of ROU assets	575	—
Recognition of lease liability	570	—

Non-cash operating activities:
Increase in allowance for credit losses upon adoption of ASU 2016-03	$—	$1,545

Non-cash investing and financing activities:
Change in unrealized gain (loss) on AFS securities, net of tax	$484	$(1,297)
Transfer of loans to held-for-sale	1,684	—
Cash dividends declared on common stock not yet paid	(1,157)	(1,264)

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.