BayCom Corp Q1 net income $7.0M ($0.55 EPS); net interest margin 4.26%

BayCom Corp

2023-Q1 EPS reported $0.55 revenue$885,000

Net income of $7.0M, up 8.6% YoY from $6.5M; diluted EPS $0.55 vs $0.51 a year ago.
Net interest income $25.3M, up 13% YoY; net interest margin 4.26% vs 3.63% a year ago.
Deposits stable at $2.1B; noninterest bearing deposits fell to 33.2% from 37.1% in Q4 2022.
Adopted CECL Jan 1, 2023; one-time $491K after-tax reduction to retained earnings.
Declared $0.10/share cash dividend (paid April 14); repurchased 422,877 shares at avg $19.08.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BayCom Corp reported the first quarter of 2023 results: net income $7.0 million, EPS $0.55 per diluted common share.

Period: the first quarter of 2023
Net income: $7.0 million
EPS: $0.55 per diluted common share
Result: reported results

Exact text from the filing

BayCom Corp (“BayCom” or the “Company”) (NASDAQ: BCML), the holding company for United Business Bank (the “Bank” or “UBB”), announced earnings of $7.0 million, or $0.55 per diluted common share, for the first quarter of 2023

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Source: SEC EDGAR

accession 0001730984-23-000025

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