NASDAQ: BCML
BayCom CorpCIK 0001730984 · SIC 6022 · State Savings Banks
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BayCom posts -$7.0M net loss in Q2 2026 on executive departure costs; provision jumps 25x
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BayCom Corp director Syvia L. Magid resigns from board, no disagreement cited
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BayCom swings to $7.0M Q2 loss on $10.5M executive severance, $5.2M credit provision
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BayCom adopts market-based equity program for senior executives with stock-price vesting
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BayCom Corp declares $0.30 quarterly dividend, payable July 9 to June 11 shareholders
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net income $8.2M. BayCom doubles dividend, margin expands to 43.5% as credit quality improves
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BayCom Corp appoints Michael J. Perdue to Board of Directors
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BayCom Corp reports Q1 2026 earnings results
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BayCom fires CEO, COO, and CFO without cause; appoints new executive team with $9.2M severance
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net income $23.9M. BayCom reduces branches, raises CRE concentration to 1.3% of capital amid tighter limits
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Latest financial statements
From 10-Q filed Aug 10, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(In thousands, except for share and per share data)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Interest income: | ||||
| Loans, including fees | 28,213 | 27,962 | 57,791 | 55,111 |
| Investment securities | 2,267 | 2,406 | 4,399 | 4,860 |
| Fed funds sold and interest-bearing balances in banks | 1,634 | 2,693 | 3,770 | 5,342 |
| FHLB dividends | 23 | 248 | 607 | 497 |
| FRB dividends | 112 | 144 | 232 | 289 |
| Total interest and dividend income | 32,249 | 33,453 | 66,799 | 66,099 |
| Interest expense: | ||||
| Deposits | 8,399 | 9,209 | 17,363 | 17,892 |
| Subordinated debt | — | 892 | — | 1,783 |
| Junior subordinated deferrable interest debentures | 119 | 192 | 509 | 384 |
| Other borrowings | 3 | — | 3 | — |
| Total interest expense | 8,521 | 10,293 | 17,875 | 20,059 |
| Net interest income | 23,728 | 23,160 | 48,924 | 46,040 |
| Provision for credit losses | 5,241 | 203 | 4,571 | 845 |
| Net interest income after provision for credit losses | 18,487 | 22,957 | 44,353 | 45,195 |
| Noninterest income: | ||||
| Gain on sale of loans | 89 | 54 | 212 | 252 |
| Gain (loss) on equity securities | 95 | 7 | 153 | (248) |
| Service charges and other fees | 875 | 913 | 1,616 | 1,858 |
| Loan servicing and other loan fees | 353 | 516 | 640 | 905 |
| Loss on investment in Small Business Investment Company (“SBIC”) fund | (193) | (227) | (108) | (336) |
| Other income and fees | 267 | 250 | 518 | 522 |
| Total noninterest income | 1,486 | 1,513 | 3,031 | 2,953 |
| Noninterest expense: | ||||
| Salaries and employee benefits | 21,049 | 9,728 | 31,898 | 19,663 |
| Occupancy and equipment | 2,085 | 2,183 | 4,212 | 4,319 |
| Data processing | 2,039 | 1,913 | 4,077 | 3,766 |
| Other expense | 1,985 | 1,930 | 3,477 | 3,995 |
| Total noninterest expense | 27,158 | 15,754 | 43,664 | 31,743 |
| (Loss) income before provision for income tax (benefit) expense | (7,185) | 8,716 | 3,720 | 16,405 |
| Provision for income tax (benefit) expense | (223) | 2,352 | 2,502 | 4,339 |
| Net (loss) income | (6,962) | 6,364 | 1,218 | 12,066 |
| Net (loss) income per common share: | ||||
| Basic (loss) earnings per common share | (0.64) | 0.58 | 0.11 | 1.09 |
| Weighted average common shares outstanding | 10,909,317 | 11,002,967 | 10,909,197 | 11,069,145 |
| Diluted (loss) earnings per common share | (0.64) | 0.58 | 0.11 | 1.09 |
| Weighted average common shares outstanding | 10,909,317 | 11,002,967 | 10,909,197 | 11,069,145 |
Condensed Consolidated Balance Sheets (Unaudited)
(In thousands, except for share data)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Cash due from banks | 21,758 | 26,785 |
| Federal funds sold and interest-bearing balances in banks | 155,624 | 179,729 |
| Cash and cash equivalents | 177,382 | 206,514 |
| Investment securities available-for-sale ("AFS"), at fair value, net of allowance for credit losses of $0 at both June 30, 2026 and December 31, 2025 | 182,710 | 179,708 |
| Equity securities, at fair value | 11,707 | 12,554 |
| Federal Home Loan Bank ("FHLB") stock, at par | 12,046 | 11,524 |
| Federal Reserve Bank ("FRB") stock, at par | 7,733 | 7,722 |
| Loans held for sale | — | 1,316 |
| Loans, net of allowance for credit losses of $22,950 at June 30, 2026 and $21,210 at December 31, 2025 | 2,052,279 | 2,045,126 |
| Premises and equipment, net | 13,132 | 13,220 |
| Core deposit intangible, net | 1,518 | 1,745 |
| Cash surrender value of bank owned life insurance ("BOLI") policies, net | 24,746 | 24,353 |
| Right-of-use assets ("ROU"), net | 14,730 | 12,665 |
| Goodwill | 38,838 | 38,838 |
| Interest receivable and other assets | 43,260 | 38,392 |
| Total assets | 2,580,081 | 2,593,677 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
| Noninterest and interest bearing deposits | 2,169,918 | 2,213,640 |
| Other borrowings | 25,000 | — |
| Junior subordinated deferrable interest debentures, net | 5,888 | 8,726 |
| Salary continuation plan | 5,235 | 5,122 |
| Lease liabilities | 15,692 | 13,659 |
| Interest payable and other liabilities | 22,958 | 13,976 |
| Total liabilities | 2,244,691 | 2,255,123 |
| Commitments and contingencies (Note 17) | ||
| Shareholders' equity | ||
| Preferred stock, no par value; 10,000,000 shares authorized; no shares issued and outstanding at both June 30, 2026 and December 31, 2025 | — | — |
| Common stock, no par value; 100,000,000 shares authorized; 10,909,317 and 10,887,681 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively | 167,352 | 165,998 |
| Additional paid in capital | 287 | 287 |
| Accumulated other comprehensive loss, net of tax | (5,823) | (6,634) |
| Retained earnings | 173,574 | 178,903 |
| Total shareholders’ equity | 335,390 | 338,554 |
| Total liabilities and shareholders’ equity | 2,580,081 | 2,593,677 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net income | 1,218 | 12,066 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Provision for credit losses | 4,571 | 845 |
| Deferred tax (benefit) expense | (3,382) | 801 |
| (Accretion) amortization on acquired loans | (158) | 7 |
| Gain on sale of loans | (212) | (252) |
| Proceeds from sale of loans originated for sale | 2,810 | 4,496 |
| Loans originated for sale | (2,579) | (3,372) |
| Amortization on junior subordinated debentures | 255 | 41 |
| Increase in cash surrender value of life insurance policies | (393) | (377) |
| Amortization of premiums on investment securities, net | 50 | 57 |
| (Gain) loss on equity securities | (153) | 248 |
| Depreciation and amortization | 995 | 966 |
| Core deposit intangible amortization | 227 | 506 |
| Stock based compensation expense | 1,354 | 302 |
| Increase (decrease) in deferred loan origination fees, net | 119 | (476) |
| Net change in interest receivable and other assets | (3,679) | 2,945 |
| Increase in salary continuation plan, net | 113 | 123 |
| Net change in interest payable and other liabilities | 10,967 | (3,278) |
| Net cash provided by operating activities | 12,123 | 15,648 |
| Cash flows from investing activities: | ||
| Proceeds from maturities of interest bearing deposits in banks | — | 249 |
| Purchase of investment securities AFS | (24,414) | (3,580) |
| Proceeds from maturities, repayments and calls of investment securities AFS | 23,333 | 16,201 |
| Purchase of FHLB stock | (522) | (211) |
| Purchase of FRB stock | (11) | (8) |
| Proceeds from sale of loans held for investment | 8,658 | — |
| Purchase of loans | (66,548) | (20,644) |
| Decrease (increase) in loans, net | 47,503 | (24,940) |
| Purchase of equipment and leasehold improvements, net | (907) | (892) |
| Net cash used in investing activities | (12,908) | (33,825) |
| Cash flows from financing activities: | ||
| Increase (decrease) in noninterest and interest bearing deposits in banks, net | 62,527 | (47,807) |
| (Decrease) increase in time deposits, net | (106,249) | 432 |
| Repayment of junior subordinated debentures | (3,093) | — |
| Increase in other borrowings, net | 25,000 | — |
| Repurchase of common stock | — | (5,187) |
| Dividends paid on common stock | (6,532) | (1,669) |
| Net cash used in financing activities | (28,347) | (54,231) |
| Decrease in cash and cash equivalents | (29,132) | (72,408) |
| Cash and cash equivalents at beginning of period | 206,514 | 364,032 |
| Cash and cash equivalents at end of period | 177,382 | 291,624 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid during the year for: | ||
| Interest expense | 17,565 | 20,024 |
| Income taxes paid, net | 5,999 | 4,953 |
| Non-cash investing and financing activities: | ||
| Change in unrealized gain on AFS securities, net of tax | 811 | 2,884 |
| Transfer of loans to held-for-sale | — | 276 |
| Recognition of ROU assets in exchange for lease obligations | 3,660 | 1,469 |
| Cash dividends declared on common stock not yet paid | (3,273) | (2,198) |
Amounts as printed on the EDGAR/iXBRL face — (In thousands, except for share and per share data); (In thousands, except for share data); (In thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗