BayCom Corp

For the period ended Jun 30, 2024. Filed Aug 9, 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.

Jun 30, 2024 · Filed Aug 9, 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


· · Six months ended · ·
· · June 30, · ·
· 2024 · 2023 ·
· · · · · · ·
Cash flows from operating activities: · · ·
Net income	$11,477	$14,397
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for (reversal of) credit losses	423	(985)
Deferred tax expense (benefit)	2,021	(1,285)
Accretion on acquired loans	(186)	(853)
Gain on sale of loans	(287)	(480)
Proceeds from sale of loans	4,749	9,176
Loans originated for sale	(3,562)	(6,882)
Loss on sale of OREO	—	21
Accretion on junior subordinated debentures	40	40
Gain on repayment of subordinated debt, net	(34)	—
Increase in cash surrender value of life insurance policies	(358)	(335)
Amortization/accretion of premiums/discounts on investment securities, net	64	227
(Gain) loss on equity securities	(252)	1,813
Depreciation and amortization	1,009	883
Core deposit intangible amortization	611	674
Stock based compensation expense	324	432
Increase (decrease) in deferred loan origination fees, net	66	(92)
Net change in interest receivable and other assets	(1,120)	1,956
Increase in salary continuation plan, net	181	115
Net change in interest payable and other liabilities	(2,415)	967
Net cash provided by operating activities	12,751	19,789
Cash flows from investing activities:
Proceeds from maturities of interest bearing deposits in banks	498	249
Purchase of investment securities AFS	(26,570)	(2,460)
Proceeds from maturities, repayments and calls of investment securities AFS	7,430	2,943
Purchase of FHLB stock	—	(634)
Purchase of FRB stock	(9)	(14)
Decrease in loans, net	59,454	10,513
Purchase of equipment and leasehold improvements, net	(1,388)	(171)
Net cash provided by investing activities	39,415	10,426

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS – (continued)


· · Six months ended
· · June 30,
· 2024 · 2023
· · · · · ·
Cash flows from financing activities: · ·
Decrease in noninterest and interest bearing deposits in banks, net	(8,601)	(104,187)
Increase in time deposits, net	50,861	165,774
Repayment of subordinated debt, net	(315)	—
Repurchase of common stock	(8,129)	(17,154)
Dividends paid on common stock	(2,313)	(1,264)
Net cash provided by financing activities	31,503	43,169
Increase in cash and cash equivalents	83,669	73,384
Cash and cash equivalents at beginning of period	307,539	176,815
Cash and cash equivalents at end of period	$391,208	$250,199

Supplemental disclosure of cash flow information:
Cash paid during the year for:
Interest expense	$18,920	$10,576
Income taxes paid, net	3,893	7
Recognition of ROU assets	575	—
Recognition of lease liability	570	—

Non-cash investing and financing activities:
Change in unrealized gain (loss) on AFS securities, net of tax	$990	$(4,859)
Transfer of loans to held-for-sale	1,684	—
Cash dividends declared on common stock not yet paid	(1,109)	(1,196)

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.