BayCom Corp (BCML) News & EventsBCMLBayCom Corp

Company Reports $5.2 Million Provision for Credit Losses in Q2

Financial results for the second quarter of 2026 included $10.5 million of expenses related to severance, accelerated equity award vesting and employee benefits associated with the previously announced departures of three senior executives; $380,000 of accelerated premium amortization on acquired loans due to seasoning, which negatively impacted the average loan yield by eight basis points; and a $5.2 million provision for credit losses, primarily reflecting loan growth, increased required reserves on certain individually evaluated loans, and the impact of $2.8 million of net charge offs during the quarter. William Black, Executive Vice Chairman, commented, "This quarter we took several deliberate actions to strengthen future earnings. We repositioned our bond portfolio into higher-yielding, shorter-duration securities and began restructuring our bank-owned life insurance (BOLI) portfolio, which together we expect to recoup the costs of these actions within approximately three years. We also sold most of our preferred equity holdings to reduce earnings volatility and market risk. Finally, we took targeted steps to realign our relationship banking teams around our most productive talent and markets. While these actions collectively reduced current-quarter earnings by approximately $0.50 per share, they position us for stronger, more consistent performance going forward. We are now focused on growing core customer relationships by investing in our business while looking at opportunities to improve legacy cost structures."

BayCom Files $200M Mixed Securities Shelf

BayCom files $200M mixed securities shelf

BayCom Annualized Net Interest Margin Rises to 4.11%

Annualized net interest margin was 4.11% for the current quarter, up from 4.03% the preceding quarter and 3.83% the same quarter a year ago. Annualized return on average assets was 1.25% for current quarter, up from 1.05% the preceding quarter and 0.89% the same quarter a year ago. William Black, Executive Vice Chairman, commented, "I am excited to join BayCom and United Business Bank alongside my colleagues Chris Baron, the Company's new President & Chief Executive Officer, and Kevin Thompson, the Company's new Chief Financial Officer. I want to thank the departing executives, who worked tirelessly over the past 22 years to create a well-respected institution with a strong foundation for future growth - a clean balance sheet, a strong deposit franchise, and a disciplined credit culture."