Welcome to our dedicated page for Baycom news (Ticker: BCML), a resource for investors and traders seeking the latest updates and insights on Baycom stock.
BayCom Corp (NASDAQ: BCML) is a California-incorporated bank holding company for United Business Bank, operating in the commercial banking industry. This news page aggregates press releases and announcements related to BayCom’s financial performance, capital actions, and corporate developments.
Recent BayCom news has focused on quarterly earnings results, dividend declarations, and capital management decisions. The company issues detailed earnings releases discussing net income, net interest income, noninterest income, provision for credit losses, net interest margin, return on average assets, loan and deposit balances, nonperforming loans, and the allowance for credit losses. These updates provide insight into how loan growth, deposit mix, funding costs, and credit quality affect BayCom’s results.
BayCom also regularly announces quarterly cash dividends on its common stock. Form 8-K filings dated February 20, 2025, May 21, 2025, August 21, 2025, and November 20, 2025 describe dividend declarations and per-share amounts, along with record and payment dates. In addition, the company has reported share repurchase activity in its earnings releases, noting the number of common shares repurchased and the average cost per share during several quarters.
Other news items include corporate and balance sheet actions, such as the August 15, 2025 announcement that BayCom would redeem all of its outstanding 5.25% Fixed-to-Floating Rate Subordinated Notes due 2030 using cash on hand, and updates on board composition, including the appointment of new holding company directors described in an October 17, 2024 press release.
Investors and observers following BCML news can use this page to review BayCom’s historical earnings announcements, dividend decisions, capital actions, and governance updates as disclosed in press releases and related SEC filings.
BayCom Corp (NASDAQ: BCML), the holding company for United Business Bank, has announced the appointment of Bhupen B. Amin and Dennis Guida as directors of the Company, effective November 1, 2024. Both Amin and Guida will continue to serve as directors of the Bank, roles they have held since 2011 and 2022, respectively. These appointments follow the recent retirement of James S. Camp from the Company and Bank's Board of Directors.
Amin, currently General Counsel and COO of Lotus Hotels and Investments, brings extensive experience in property management and development. Guida, the Managing Director for HBP Analytics, , has 40 years of banking industry experience, specializing in asset-liability management.
BayCom Corp (NASDAQ: BCML) reported earnings of $6.0 million, or $0.54 per diluted common share, for the third quarter of 2024. This represents a 7.4% increase from the second quarter of 2024 but a 9.2% decrease from the third quarter of 2023. The increase from Q2 2024 was primarily due to higher net interest income and noninterest income, partially offset by increased provision for credit losses and noninterest expense.
Key highlights include:
- Annualized net interest margin was 3.73%, up from 3.69% in Q2 2024
- Annualized return on average assets was 0.94%
- Total assets remained stable at $2.6 billion
- Loans, net of deferred fees, totaled $1.9 billion
- Nonperforming loans decreased to 0.51% of total loans
- The company repurchased 51,240 shares of common stock
- A cash dividend of $0.10 per share was declared
BayCom Corp (NASDAQ: BCML), the parent company of United Business Bank, has declared a quarterly cash dividend of $0.10 per share on its common stock. The dividend will be payable on October 10, 2024 to shareholders of record as of the close of business on September 19, 2024. This announcement demonstrates BayCom's commitment to providing regular returns to its shareholders and may be seen as a positive indicator of the company's financial health and confidence in its future performance.
BayCom Corp (NASDAQ: BCML) reported second-quarter 2024 earnings of $5.6 million, or $0.50 per diluted share, down from $5.9 million, or $0.51 per share, in Q1 2024 and $7.2 million, or $0.59 per share, in Q2 2023. This decline was primarily due to decreased net interest income and noninterest income, despite reductions in credit loss provisions, income taxes, and noninterest expenses.
Annualized net interest margin was 3.69%, down from 3.72% in Q1 2024 and 4.02% in Q2 2023. Return on average assets was 0.87%, down from 0.92% in Q1 2024 and 1.13% in Q2 2023. Assets totaled $2.6 billion, with loans at $1.9 billion and deposits at $2.2 billion. Nonperforming loans increased to $16.1 million, or 0.87% of total loans.
The company repurchased 204,794 shares at an average cost of $20.17 per share and declared a $0.10 per share dividend. CEO George Guarini noted stability in deposits despite low loan demand and expressed cautious optimism about future loan demand and M&A prospects, emphasizing cost management and shareholder value.
BayCom Corp (NASDAQ: BCML), the parent company of United Business Bank, announced a quarterly cash dividend of $0.10 per share, payable on July 11, 2024, to shareholders of record by June 13, 2024.
Additionally, the company introduced its ninth stock repurchase program, allowing for the buyback of up to 560,000 shares, approximately 5% of its outstanding shares, over a one-year period. This new program will start after the completion of the existing stock repurchase program, which will expire on April 21, 2025, or earlier if all shares are repurchased.
The buyback strategy will involve open market purchases, privately-negotiated transactions, and block purchases, adhering to federal securities laws. However, the repurchase program does not obligate the company to buy a specific number of shares and can be altered at any time.
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