BayCom Corp
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
View on SEC.govAbout 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
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Income (unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except for share and per share data)
| | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · Three months ended · · Nine months ended | ||||||||||||
| · · September 30, · · September 30, | ||||||||||||
| · 2024 · 2023 · 2024 · 2023 | ||||||||||||
| · · · · · · · · · · | ||||||||||||
| Interest income: · · · · | ||||||||||||
| Loans, including fees | | $26,232 | | $27,229 | | $76,503 | | $80,151 | ||||
| Investment securities | | 2,393 | | 1,704 | | 6,530 | | 5,037 | ||||
| Fed funds sold and interest-bearing balances in banks | | | 4,414 | | | 3,521 | | | 13,348 | | | 7,910 |
| FHLB dividends | | 243 | | 232 | | 762 | | 616 | ||||
| FRB dividends | | 144 | | 144 | | 433 | | 432 | ||||
| Total interest and dividend income | | 33,426 | | 32,830 | | 97,576 | | 94,146 | ||||
| Interest expense: | | | | | ||||||||
| Deposits | | 9,448 | | 6,908 | | 26,677 | | 16,489 | ||||
| Subordinated debt | | | 892 | | | 896 | | | 2,676 | | | 2,687 |
| Junior subordinated deferrable interest debentures | | 221 | | 217 | | 656 | | 623 | ||||
| Total interest expense | | 10,561 | | 8,021 | | 30,009 | | 19,799 | ||||
| Net interest income | | 22,865 | | 24,809 | | 67,567 | | 74,347 | ||||
| Provision for (reversal of) credit losses | | 1,245 | | 674 | | 1,668 | | (311) | ||||
| Net interest income after provision for (reversal of) credit losses | | 21,620 | | 24,135 | | 65,899 | | 74,658 | ||||
| Noninterest income: | | | | | ||||||||
| Gain on sale of loans | | — | | 28 | | 287 | | 508 | ||||
| Gain (loss) on equity securities | | | 1,420 | | | (274) | | | 1,672 | | | (2,087) |
| Service charges and other fees | | 898 | | 973 | | 2,471 | | 2,740 | ||||
| Loan servicing and other loan fees | | 324 | | 431 | | 1,157 | | 1,434 | ||||
| (Loss) income on investment in Small Business Investment Company (“SBIC”) fund | | (253) | | 225 | | (212) | | 939 | ||||
| Other income and fees | | 356 | | 271 | | 915 | | 769 | ||||
| Total noninterest income | | 2,745 | | 1,654 | | 6,290 | | 4,303 | ||||
| Noninterest expense: | | | | | ||||||||
| Salaries and employee benefits | | 9,569 | | 10,284 | | 29,247 | | 32,065 | ||||
| Occupancy and equipment | | 2,209 | | 2,133 | | 6,496 | | 6,134 | ||||
| Data processing | | 1,973 | | 1,774 | | 5,376 | | 4,855 | ||||
| Other expense | | 2,323 | | 2,328 | | 7,038 | | 6,551 | ||||
| Total noninterest expense | | 16,074 | | 16,519 | | 48,157 | | 49,605 | ||||
| Income before provision for income taxes | | 8,291 | | 9,270 | | 24,032 | | 29,356 | ||||
| Provision for income taxes | | 2,274 | | 2,640 | | 6,538 | | 8,327 | ||||
| Net income | | $6,017 | | $6,630 | | $17,494 | | $21,029 | ||||
| Earnings per common share: | | | | | ||||||||
| Basic earnings per common share | | $0.54 | | $0.56 | | $1.55 | | $1.72 | ||||
| Weighted average common shares outstanding | | 11,148,482 | | 11,812,583 | | 11,308,901 | | 12,243,506 | ||||
| | | | | | | | | | | | | |
| Diluted earnings per common share | | $0.54 | | $0.56 | | $1.55 | | $1.72 | ||||
| Weighted average common shares outstanding | | 11,148,482 | | 11,812,583 | | 11,308,901 | | 12,243,506 | ||||
BAYCOM CORP AND SUBSIDIARY
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