BayCom Corp

For the period ended Sep 30, 2024. Filed Nov 12, 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.

Sep 30, 2024 · Filed Nov 12, 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


· · Nine months ended · ·
· · September 30, · ·
· 2024 · 2023 ·
· · · · · · ·
Cash flows from operating activities: · · ·
Net income	$17,494	$21,029
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for (reversal of) credit losses	1,668	(311)
Deferred tax expense (benefit)	3,409	(1,711)
Accretion on acquired loans	(95)	(941)
Gain on sale of loans	(287)	(508)
Proceeds from sale of loans originated for sale	4,749	9,585
Loans originated for sale	(3,562)	(7,202)
Loss on sale of OREO	—	21
Accretion on junior subordinated debentures	60	60
Gain on repayment of subordinated debt, net	(34)	—
Increase in cash surrender value of life insurance policies	(542)	(505)
Amortization/accretion of premiums/discounts on investment securities, net	18	295
(Gain) loss on equity securities	(1,672)	2,087
Depreciation and amortization	1,537	1,266
Core deposit intangible amortization	916	980
Stock based compensation expense	483	585
Decrease in deferred loan origination fees, net	(128)	(156)
Net change in interest receivable and other assets	(7)	2,345
Increase in salary continuation plan, net	145	46
Net change in interest payable and other liabilities	(1,783)	(4,572)
Net cash provided by operating activities	22,369	22,393
Cash flows from investing activities:
Proceeds from maturities of interest bearing deposits in banks	747	498
Purchase of investment securities AFS	(39,020)	(6,416)
Proceeds from maturities, repayments and calls of investment securities AFS	13,140	6,310
Purchase of FHLB stock	—	(634)
Purchase of FRB stock	(14)	(19)
Proceeds from sale of loans	6,837	—
Decrease in loans, net	600	53,859
Purchase of equipment and leasehold improvements, net	(1,643)	(703)
Net cash (used in) provided by investing activities	(19,353)	52,895

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS – (continued)


· · Nine months ended
· · September 30,
· 2024 · 2023
· · · · · ·
Cash flows from financing activities: · ·
Decrease in noninterest and interest bearing deposits in banks, net	(8,900)	(64,030)
Increase in time deposits, net	12,591	137,995
Repayment of subordinated debt, net	(315)	—
Repurchase of common stock	(9,213)	(21,674)
Dividends paid on common stock	(3,434)	(2,460)
Net cash (used in) provided by financing activities	(9,271)	49,831
(Decrease) increase in cash and cash equivalents	(6,255)	125,119
Cash and cash equivalents at beginning of period	307,539	176,815
Cash and cash equivalents at end of period	$301,284	$301,934

Supplemental disclosure of cash flow information:
Cash paid during the year for:
Interest expense	$30,096	$18,827
Income taxes paid, net	5,317	2,885

Non-cash investing and financing activities:
Change in unrealized gain (loss) on AFS securities, net of tax	$3,424	$(5,699)
Transfer of loans to held-for-sale	2,252	—
Recognition of ROU assets in exchange for lease obligations	1,629	995
Cash dividends declared on common stock not yet paid	(1,110)	(1,179)

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