BayCom Q3 earnings $6.6M, EPS $0.56; provision for credit losses rises to $674K

BayCom Corp

2023-Q3 EPS reported $1.72

Net income $6.6M ($0.56 diluted) vs Q2 $7.2M ($0.59) and Q3 2022 $7.0M ($0.52).
Net interest margin stable at 4.03% (annualized); net interest income $24.8M, up $528K QoQ.
Provision for credit losses of $674K vs $1.3M reversal in Q2; allowance at 1.01% of loans.
Nonperforming loans rose to $14.3M (0.73%) from $12.8M (0.64%), driven by a trust loan in litigation.
Repurchased 239,649 shares at avg $18.86; $0.10 quarterly dividend paid Oct 13.

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 financial results for the quarter and nine month period ended September 30, 2023.

Period: the quarter and nine month period ended September 30, 2023
Result: reported results

Exact text from the filing

On October 19, 2023, BayCom Corp issued its earnings release for the quarter and nine month period ended September 30, 2023.

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Source: SEC EDGAR

accession 0001730984-23-000085

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