Baycom Corp Stock Price, News & Analysis

BayCom Corp (NASDAQ: BCML) has successfully completed the acquisition of Pacific Enterprise Bancorp as of February 1, 2022. Each PEB shareholder will receive 1.0292 shares of BayCom stock per PEB share, with cash for any fractional shares. This merger is expected to enhance BayCom's presence in Orange County, California, and expand its resources in SBA and other government-guaranteed lending. Following the acquisition, BayCom's total assets are approximately $2.9 billion, total loans at $2.1 billion, and total deposits at $2.4 billion.

BayCom Corp (NASDAQ: BCML) reported fourth quarter 2021 earnings of $5.4 million, or $0.51 per diluted share, unchanged from the previous quarter but up from $4.5 million, or $0.39 per diluted share, year-over-year. For the entire year, net income surged 50.7% to $20.7 million, driven by a $9.9 million decrease in the provision for loan losses despite a drop in net interest income. The company anticipates completing its merger with Pacific Enterprise Bancorp in Q1 2022, creating a combined entity with approximately $2.9 billion in assets.

BayCom Corp (NASDAQ: BCML) has announced a stock repurchase program to buy back up to 747,000 shares, representing about 7% of its outstanding shares, over one year. This initiative reflects the company's commitment to enhance shareholder value through prudent capital management. The repurchase may occur via open market purchases and privately negotiated transactions, utilizing Rule 10b-18 and 10b5-1 trading plans. Actual buyback timing will depend on various market factors and company results, but it indicates confidence in the company's future prospects.

BayCom Corp, parent company of United Business Bank, has expanded its board of directors from nine to 11 members. Effective December 14, 2021, Janet L. King and Keary L. Colwell were appointed to meet California's gender diversity requirements, which mandate at least three female directors and one from an underrepresented community by the end of 2021. Both appointees bring over 35 years of banking experience, enhancing the board's expertise.

BayCom Corp (NASDAQ: BCML) and Pacific Enterprise Bancorp (PEB) have received shareholder approval for their merger. This comes after obtaining all necessary bank regulatory approvals. The merger is anticipated to close in Q1 2022, pending certain conditions. PEB shareholders will receive 1.0292 shares of BayCom stock for each PEB share, which is expected to be a tax-free exchange. The successful merger will enhance BayCom's operational scale and financial offerings.

BayCom Corp (NASDAQ: BCML) has received regulatory approvals for its merger with Pacific Enterprise Bancorp (PEB). The merger, which combines PEB's bank subsidiary into BayCom's, will enhance BayCom's footprint in Southern California, particularly in Orange County. The transaction is expected to be accretive to earnings and tangible book value in the first year. Shareholder votes are scheduled for December 13, 2021. PEB shareholders will receive 1.0292 shares of BayCom stock for each PEB share, qualifying as a tax-free exchange.

BayCom Corp (NASDAQ: BCML) reported third-quarter 2021 earnings of $5.4 million, or $0.51 per diluted share, reflecting a slight increase from $5.3 million in Q2 2021 and a significant rise from $3.2 million in Q3 2020. Year-to-date net income reached $15.3 million, up 66.0% from $9.2 million in the same period last year. Key factors include a $1.6 million rise in noninterest income but faced challenges with a $984,000 increase in loan loss provisions. The company announced a merger with Pacific Enterprise Bancorp, valued at approximately $53.1 million, expected to close in Q1 2022.

BayCom Corp has announced its acquisition of Pacific Enterprise Bancorp (PEB) in an all-stock transaction valued at approximately $53.1 million. Each PEB shareholder will receive 1.0292 shares of BayCom stock per share held. Post-merger, PEB shareholders will own about 22.4% of BayCom. As of June 30, 2021, PEB had assets of $646.9 million and will enhance BayCom's presence in Southern California. The merger is expected to close in Q1 2022, subject to regulatory and shareholder approvals.

BayCom Corp (BCML) reported second-quarter 2021 earnings of $5.3 million, or $0.49 per diluted share, up from $4.5 million in Q1 2021 and $3.1 million in Q2 2020. The net income rise was driven by a $507,000 reversal of loan loss provisions and a $216,000 boost in noninterest income, although net interest income fell by $302,000. For the first half of 2021, net income was $9.8 million, compared to $5.9 million in the same period last year. Loan modifications due to COVID-19 decreased significantly, indicating economic recovery. As of June 30, loans totaled $1.6 billion, and deposits increased to $2.0 billion.