Baycom Corp Stock Price, News & Analysis

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BayCom Corp (NASDAQ: BCML) has announced its seventh stock repurchase program, authorizing the buyback of up to 619,000 shares, approximately 5% of its outstanding shares, over the next year. This program will start upon the completion of the current buyback set to expire on October 24, 2023. Currently, 17,633 shares remain available for repurchase under the ongoing program. The timing and quantity of shares repurchased will depend on market conditions and company policies, emphasizing flexibility in execution. This move aims to enhance shareholder value, indicating the Board's confidence in the company's financial health and future prospects.

BayCom Corp (NASDAQ: BCML) reported first-quarter 2023 earnings of $7.0 million ($0.55 per share), a 12.5% decline from the previous quarter, but an 8.6% year-over-year increase. Key factors influencing the results included a $1.2 million drop in net interest income, a $798,000 increase in the provision for credit losses, and increased noninterest expenses. Total deposits remained stable at $2.1 billion. The annualized net interest margin decreased to 4.26%, while the return on average assets fell to 1.11%. Nonperforming loans were $13.1 million, or 0.64% of total loans, an improvement from the previous quarter’s 0.75%. The company maintained a well-capitalized status and announced a cash dividend of $0.10 per share, reflecting ongoing shareholder returns amidst a turbulent banking environment.

BayCom Corp (NASDAQ:BCML) confirms the strong capital and liquidity positions of its subsidiary, United Business Bank. The Bank has access to $1.1 billion in liquidity from various sources, including its borrowing capacity at the Federal Home Loan Bank and eligibility for the new Bank Term Funding Program by the Federal Reserve. President George Guarini highlighted the Bank’s diversified business model and reported an increase in total deposits since year-end. The Bank's capital is well above regulatory thresholds, supporting continued transaction processing and loan funding to clients.

BayCom Corp (NASDAQ: BCML) has announced a quarterly cash dividend of $0.10 per share, doubling the previous $0.05 dividend declared on November 16, 2022. This dividend will be paid on April 14, 2023, to shareholders of record by March 10, 2023. The company, operating through its subsidiary United Business Bank, provides various financial services across California, Washington, New Mexico, and Colorado. The dividend increase reflects the company's commitment to returning value to its shareholders and signifies confidence in its ongoing financial health.

BayCom Corp (NASDAQ: BCML) reported Q4 2022 earnings of $8.1 million, or $0.62 per diluted share, up from $7.2 million ($0.54/share) in Q3 2022 and $5.4 million ($0.51/share) in Q4 2021. Full-year earnings were $27 million ($2.06/share), a 30.5% increase from $20.7 million ($1.90/share) in 2021. Key factors included a $1.7 million rise in net interest income and a $577,000 decline in provisions for loan losses. However, noninterest income dropped by $1.2 million. The annualized net interest margin increased to 4.40%, reflecting improved return on assets and growth in loan portfolios despite rising market rates. Shareholders benefited from a cash dividend of $0.05 per share paid in January 2023.

BayCom Corp (NASDAQ: BCML) has declared a quarterly cash dividend of $.05 per share, payable on January 13, 2023 to shareholders of record as of December 16, 2022. This decision reflects the company's commitment to returning value to shareholders and underscores its ongoing financial health. The announcement comes amidst a backdrop of forward-looking statements cautioning that actual future results may differ due to various risks and uncertainties.