WALNUT CREEK, Calif.--(BUSINESS WIRE)--BayCom Corp (NASDAQ: BCML) (“BayCom” or the “Company”), the parent company of United Business Bank, announced today that, due to regulatory and statutory requirements of the NASDAQ Global Select Market, the record date for the recently announced $0.10 per share quarterly cash dividend on BayCom common stock has been adjusted to now occur on March 16, 2024. The payable date for the dividend was not adjusted and will be payable on April 12, 2024. Please refer to BayCom’ ...

WALNUT CREEK, Calif.--(BUSINESS WIRE)--BayCom Corp (NASDAQ: BCML) (“BayCom” or the “Company”), the parent company of United Business Bank, today announced that its Board of Directors (“the Board”) declared a quarterly cash dividend of $0.10 per share on the Company's outstanding common stock. The cash dividend will be payable on April 12, 2024 to shareholders of record as of the close of business on March 8, 2024. About BayCom Corp The Company, through its wholly owned operating subsidiary, United Busines ...

Bay Commercial Bank (BCML) came out with quarterly earnings of $0.55 per share, missing the Zacks Consensus Estimate of $0.57 per share. This compares to earnings of $0.62 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -3.51%. A quarter ago, it was expected that this company would post earnings of $0.55 per share when it actually produced earnings of $0.56, delivering a surprise of 1.82%.Over the last four quarters, the compa ...

Core Viewpoint - BayCom Corp reported a decrease in net income for the fourth quarter of 2023 compared to both the previous quarter and the same quarter last year, primarily due to a decline in net interest income and an increase in provisions for credit losses, although overall financial condition remains strong [1][2][3]. Financial Performance - Net income for Q4 2023 was $6.4 million, or $0.55 per diluted share, down from $6.6 million in Q3 2023 and $7.6 million in Q4 2022 [1]. - Net interest income decreased by $1.3 million, or 5.2%, from the prior quarter and by $2.9 million, or 11.1%, from the same quarter last year [6][12]. - Noninterest income increased by $1.0 million, or 61.8%, compared to the prior quarter and by $1.8 million, or 196.0%, compared to the same quarter last year [18]. Credit Quality - The provision for credit losses for Q4 2023 was $2.3 million, significantly higher than the provisions of $674,000 in Q3 2023 and $617,000 in Q4 2022 [15]. - Nonperforming loans totaled $13.0 million, or 0.67% of total loans, at the end of Q4 2023, down from $14.3 million, or 0.73%, in Q3 2023 [23]. Deposits and Borrowings - Total deposits were $2.1 billion at December 31, 2023, unchanged from the same date last year but down from $2.2 billion at September 30, 2023 [27]. - Noninterest-bearing deposits decreased to $646.3 million, or 30.3% of total deposits, from $667.3 million, or 30.9%, in the previous quarter [27]. Shareholder Actions - The company repurchased 122,559 shares at an average cost of $19.91 per share during Q4 2023, compared to 239,649 shares at $18.86 in Q3 2023 [5]. - A cash dividend of $0.10 per share was declared on November 28, 2023, and paid on January 12, 2024 [5]. Overall Financial Condition - The company maintained a "well-capitalized" status for regulatory capital purposes as of December 31, 2023 [5]. - Shareholders' equity totaled $312.9 million at December 31, 2023, an increase from $307.3 million at September 30, 2023 [31].

Financial Position - As of September 30, 2023, the company had approximately $2.6 billion in total assets, $2.0 billion in total loans, $2.2 billion in total deposits, and $307.3 million in shareholders' equity[184]. - Total assets increased by $61.1 million, or 2.4%, to $2.6 billion as of September 30, 2023, compared to December 31, 2022[217]. - Cash and cash equivalents rose by $125.1 million, or 70.8%, to $301.9 million at September 30, 2023, driven by a $121.7 million increase in federal funds sold and interest-bearing balances[218]. - Total deposits increased by $74.0 million, or 3.5%, to $2.2 billion as of September 30, 2023, compared to December 31, 2022[250]. - Shareholders' equity decreased by $9.9 million to $307.3 million at September 30, 2023, primarily due to stock repurchases and dividends[257]. Loan Portfolio - The total loan portfolio included $426.6 million, or 21.7%, of acquired loans, while $1.5 billion, or 78.3%, consisted of originated loans[185]. - Loans receivable, net, decreased by $53.2 million, or 2.7%, as of September 30, 2023[217]. - Total loans amounted to $1.968 billion, down 2.6% from $2.021 billion at the end of 2022[222]. - New loan originations amounted to $135.0 million, partially offsetting $180.0 million in loan repayments[220]. - The commercial and industrial loan portfolio decreased by 7.5% to $170.7 million as of September 30, 2023[222]. - The owner-occupied commercial real estate loans decreased by 19.8% to $514.5 million, while non-owner occupied CRE loans increased by 12.6% to $909.9 million[222]. Credit Losses and Allowance - The company established an allowance for credit losses to reflect estimated credit losses in its loan and investment portfolios[192]. - The allowance for credit losses increased by 4.8% to $(19.8) million as of September 30, 2023, from $(18.9) million at the end of 2022[222]. - The allowance for credit losses for loans was $19.8 million, representing 1.01% of total loans as of September 30, 2023, compared to $18.9 million or 0.94% at December 31, 2022[241]. - The company recorded net charge-offs of $399,000 for the nine months ended September 30, 2023, compared to $3.5 million for the same period in 2022[242]. - The allowance for credit losses on loans as a percentage of nonaccrual loans was 138.26% at September 30, 2023, up from 110.27% at September 30, 2022[246]. Income and Expenses - Net income for the three months ended September 30, 2023, was $6.6 million, a decrease of $340,000 or 4.9% compared to the same period in 2022[258]. - Net income for the nine months ended September 30, 2023, increased by $4.9 million or 30.6% to $21.0 million compared to $16.1 million for the same period in 2022[259]. - Interest income for the three months ended September 30, 2023, was $32.8 million, an increase of $5.7 million or 21.0% compared to $27.1 million for the same period in 2022[260]. - Noninterest income decreased by $728,000, or 30.6%, to $1,654,000 for Q3 2023 compared to $2,382,000 for Q3 2022[290]. - Noninterest expense increased by $423,000, or 2.6%, to $16,519,000 for Q3 2023 compared to $16,096,000 for Q3 2022[294]. Interest Rates and Margins - The Federal Reserve has increased the target range for the federal funds rate by 525 basis points since March 2022, with a range of 5.25% to 5.50% as of the latest quarter[190]. - The net interest margin is influenced by changes in market interest rates and the composition of interest-earning assets and liabilities[190]. - The annualized net interest margin for the three months ended September 30, 2023, was 4.03%, compared to 3.99% for the same period in 2022[281]. - Interest expense increased by $5.6 million, or 232.5%, to $8.0 million for the three months ended September 30, 2023, reflecting higher funding costs due to increased market rates[271]. - Average yield on loans increased to 5.42% for the three months ended September 30, 2023, from 4.73% for the same period in 2022[263]. Strategic Initiatives - The company completed the acquisition of Pacific Enterprise Bancorp on February 1, 2022, enhancing its market presence[186]. - The company aims to continue expanding its commercial banking franchise through strategic acquisitions and organic growth, having completed 10 acquisitions since 2010[184]. - The company is focused on enhancing its banking experience by providing a comprehensive suite of banking products and services tailored to client needs[184]. Regulatory and Capital Position - The Bank maintained "Well Capitalized" status under Federal Reserve regulations as of September 30, 2023[311]. - The Common Equity Tier 1 capital ratio for BayCom Corp was 14.12% as of September 30, 2023, exceeding the minimum requirement for "Well Capitalized" status[313]. - As of September 30, 2023, the Bank had a borrowing capacity of $597.6 million with the FHLB of San Francisco, with no borrowings outstanding[300]. Market Risks - Interest rate risk is considered a significant market risk, with assessments conducted quarterly to manage exposure[318].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38483 BAYCOM CORP | --- | --- | --- | |----------------------------------------------------------------|----------------- ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38483 BAYCOM CORP | --- | --- | --- | |----------------------------------------------------------------|---------------- ...

Loan Portfolio - As of December 31, 2022, the company had net loans of $2.0 billion, representing 80.4% of total assets[40] - The loan portfolio primarily consists of commercial real estate loans totaling $1.7 billion, which constitutes 85.0% of total loans[41] - The company’s commercial and industrial loans amounted to $188.5 million, representing 9.3% of total loans as of December 31, 2022[41] - The aggregate amount of loans to the 10 largest borrowers was approximately $180.0 million, or 8.9% of total loans[43] - The company held $1.8 billion in loans secured by real estate, representing 90.5% of total loans receivable[53] - The commercial real estate loan portfolio included $107.6 million of loans originated under the SBA's 504 loan program as of December 31, 2022[59] - During 2022, the company originated $36.4 million in commercial real estate SBA 7(a) loans and sold $28.4 million of the guaranteed portion, recognizing a gain of $2.2 million[60] - The average loan size in the commercial real estate portfolio was approximately $1.1 million with an estimated weighted average loan-to-value ratio of 45.5%[61] - The company’s authorized legal lending limit for unsecured loans was $53.4 million, and for specific secured loans, it was $89.0 million as of December 31, 2022[52] - The company’s commercial real estate loans included $658.2 million of owner-occupied loans, or 32.6% of the total loan portfolio[54] - As of December 31, 2022, agricultural real estate secured loans totaled $17.3 million, representing 0.9% of total loans[62] - The commercial real estate loan portfolio amounted to $1,704.7 million, with retail loans making up 24.4% and multifamily residential loans at 14.1%[65] - Construction and land loans outstanding were $13.2 million, accounting for 0.7% of total loans, with an average loan size of approximately $235,000[66] - One-to-four family residential loans totaled $110.6 million, or 5.5% of total loans, including a significant loan of $26.8 million secured by a multi-unit residential property[70] - Home equity loans and lines of credit reached $7.7 million, representing 0.4% of total loans, with unfunded commitments totaling $8.7 million[71] - Commercial and industrial loans included $19.7 million in SBA 7(a) loans, with $14.8 million of the guaranteed portion not yet sold as of December 31, 2022[77] - Agricultural operating loans amounted to $17.2 million, or 1.0% of total loans, reflecting the dependency on the agricultural business's cash flow for repayment[79] - Loans enrolled in the California Capital Access Program totaled $26.3 million, representing 1.3% of total loans, providing coverage for losses on qualified loans[80] - The largest commercial real estate loan had a net outstanding balance of $26.8 million, secured by a church in San Diego, California[65] - The average loan-to-value ratio for construction and land loans was estimated at 50.7%[66] - As of December 31, 2022, loans enrolled in the On-Road Heavy-Duty Vehicle Air Quality Loan Program totaled $26.2 million, representing 1.3% of total loans[82] - Consumer loans amounted to $4.2 million, which is 0.2% of total loans as of December 31, 2022[85] Financial Position - The investment portfolio totaled $167.8 million with an average yield of 3.4% and an estimated duration of approximately 6.7 years as of December 31, 2022[101] - At December 31, 2022, the Bank had $70.3 million in reciprocal CDARS deposits and $56.3 million in ICS deposits[93] - The Bank had $473.6 million of available credit capacity with the Federal Home Loan Bank as of December 31, 2022[95] - Outstanding subordinate debt, net of costs to issue, totaled $63.7 million as of December 31, 2022[99] - The Company discontinued its escrow services in 2021, which previously provided a low-cost core deposit base[94] - The Bank's borrowing from the Federal Reserve Bank was closed during 2022, with no outstanding borrowings as of December 31, 2022[95] Regulatory Compliance - The Company is subject to significant regulation by federal and state laws, which may impact its operations and financial condition[104] - The Bank paid $680,000 in FDIC assessments for the year ended December 31, 2022[115] - As of December 31, 2022, the Bank met the requirements to be "well capitalized" and satisfied the fully phased-in capital conservation buffer requirement[124] - The Bank's aggregate recorded loan balances for construction, land development, and land loans were 7.1% of total regulatory capital as of December 31, 2022[134] - The Bank's commercial real estate loans represented 297.8% of total regulatory capital as of December 31, 2022[134] - The FDIC's base assessment rates are between 3 to 30 basis points, subject to adjustments based on supervisory ratings and financial ratios[112] - The FDIC projected that the DIF reserve ratio was at risk of not reaching the statutory minimum of 1.35% by September 30, 2028[113] - The Bank's adoption of the CECL model is estimated to result in a $1 million to $3 million increase to its allowance for credit losses for loans[126] - The revised assessment rate schedules by the FDIC are intended to increase the likelihood that the DIF reserve ratio reaches the statutory minimum level of 1.35% by September 30, 2028[115] - The minimum capital ratios required include a CET1 capital ratio of 4.5%, a Tier 1 capital ratio of 6.0%, and a total risk-based capital ratio of 8.0%[120] - The Bank's total average consolidated assets less average tangible equity capital is used to determine the assessment base for FDIC[112] - The Bank was in compliance with the reserve requirements set by the Federal Reserve as of December 31, 2022[140] Community and Employee Engagement - The Bank received a "satisfactory" rating during its most recent Community Reinvestment Act examination, which assesses performance in meeting community credit needs[142] - Dividends payable by the Bank to the Company depend on the Bank's earnings and capital position, limited by federal and state laws[143] - The Bank must maintain a capital conservation buffer requirement to avoid restrictions on dividend payments[144] - The Bank is subject to the California Consumer Privacy Act, which imposes requirements for data privacy and can lead to significant compliance costs[148] - The Bank's policies comply with the USA Patriot Act and the Bank Secrecy Act, which require programs to prevent money laundering and terrorist financing[149] - The Company is subject to comprehensive regulation by the Federal Reserve and must file quarterly reports[152] - The Bank Holding Company Act requires the Company to serve as a source of financial strength to its subsidiary banks[153] - The Federal Reserve may approve the ownership of shares by a bank holding company in companies closely related to banking activities[157] - Bank holding companies with less than $3 billion in consolidated assets are generally no longer subject to the Federal Reserve's capital regulations[158] - The company will maintain its status as an "emerging growth company" until it reaches total annual gross revenues of $1.07 billion or more, or until December 31, 2023, whichever comes first[159] - As of December 31, 2022, the company had approximately 374 full-time equivalent employees, with 72% identifying as female and 28% as male[175] - The average tenure of employees was 5.0 years, with 68% of management roles held by women[175] - The company is committed to supporting its community during the COVID-19 pandemic, with all branches open as of December 31, 2022[167] - The company faces competition from various financial institutions, including credit unions and FinTech companies, in both commercial and retail banking[168][171] - The Federal Reserve requires prior written notice for stock repurchases if the gross consideration equals 10% or more of the company's consolidated net worth[166] - The company is subject to heightened legal and regulatory compliance risks due to the complex legal landscape governing its operations[174] - The company has a diverse workforce, with 34% White, 31% Asian, 25% Hispanic/Latino, 5% Black, and 3% identifying as Two or More Races[175] - The company emphasizes employee development through ongoing training programs and educational reimbursement[181] Leadership and Management - Ms. Mary Therese Curley joined the Bank as Executive Vice President and Director of Labor Service Division in April 2017, and was appointed Chief Credit Officer in 2022[190] - Mr. Rick Pak has been responsible for overall organic loan growth in Commercial Real Estate and various government guaranteed programs since January 2019[191] - Ms. Izabella Zhu Mitchell oversees risk governance and regulatory relations as Chief Risk Officer since September 2013[192]

Table of Contents BAYCOM CORP | --- | --- | --- | |----------------------------------------------------------------|-----------------------------------------------------------|-------------------------------------------| | California | (Exact Name of Registrant as Specified in its Charter) \n | 37-1849111 | | (State or other jurisdiction of incorporation or organization) | | (I.R.S. Employer Identification No.) | | 500 Ygnacio Valley Road, Suite 200, Walnut Creek, California | | 94596 | | (Address of princi ...

Table of Contents BAYCOM CORP | --- | --- | --- | |----------------------------------------------------------------|-----------------------------------------------------------|-------------------------------------------| | California | (Exact Name of Registrant as Specified in its Charter) \n | 37-1849111 | | (State or other jurisdiction of incorporation or organization) | | (I.R.S. Employer Identification No.) | | 500 Ygnacio Valley Road, Suite 200, Walnut Creek, California | | 94596 | | (Address of princi ...