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 Income (unaudited)

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except for share and per share data)


· · Three months ended · · Six months ended
· · June 30, · · June 30,
· 2024 · 2023 · 2024 · 2023
· · · · · · · · · ·
Interest income: · · · ·
Loans, including fees	$25,014	$26,667	$50,271	$52,922
Investment securities	2,181	1,693	4,137	3,333
Fed funds sold and interest-bearing balances in banks	4,819	2,560	8,934	4,389
FHLB dividends	247	196	519	384
FRB dividends	145	144	289	288
Total interest and dividend income	32,406	31,260	64,150	61,316
Interest expense:
Deposits	9,002	5,881	17,229	9,581
Subordinated debt	891	895	1,784	1,791
Junior subordinated deferrable interest debentures	218	203	435	406
Total interest expense	10,111	6,979	19,448	11,778
Net interest income	22,295	24,281	44,702	49,538
Provision for (reversal of) credit losses	171	(1,260)	423	(985)
Net interest income after provision for (reversal of) credit losses	22,124	25,541	44,279	50,523
Noninterest income:
Gain on sale of loans	287	68	287	480
(Loss) gain on equity securities	(321)	(917)	252	(1,813)
Service charges and other fees	734	882	1,573	1,767
Loan servicing and other loan fees	441	593	833	1,003
Income on investment in Small Business Investment Company (“SBIC”) fund	71	225	41	714
Other income and fees	271	235	559	496
Total noninterest income	1,483	1,086	3,545	2,647
Noninterest expense:
Salaries and employee benefits	9,642	10,745	19,678	21,781
Occupancy and equipment	2,133	1,974	4,287	4,001
Data processing	1,650	1,616	3,403	3,081
Other expense	2,587	2,222	4,715	4,223
Total noninterest expense	16,012	16,557	32,083	33,086
Income before provision for income taxes	7,595	10,070	15,741	20,084
Provision for income taxes	1,995	2,864	4,264	5,687
Net income	$5,600	$7,206	$11,477	$14,397
Earnings per common share:
Basic earnings per common share	$0.50	$0.59	$1.01	$1.16
Weighted average common shares outstanding	11,254,233	12,228,206	11,389,992	12,462,539

Diluted earnings per common share	$0.50	$0.59	$1.01	$1.16
Weighted average common shares outstanding	11,254,233	12,228,206	11,389,992	12,462,539

BAYCOM CORP AND SUBSIDIARY

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.