secwatch.observer — SEC 8-K summary
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Issuer:     BayCom Corp (BCML)
CIK:        0001730984
Form:       8-K
Filed at:   2024-01-25T23:59:59+00:00
Accession:  0001730984-24-000013
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BayCom Q4 net income $6.4M ($0.55 EPS), down YoY; NIM compresses to 3.86%
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- Q4 2023 net income $6.4M ($0.55 EPS), down 16% YoY; net interest income $23.5M (-11.1% YoY).
- NIM compressed to 3.86% from 4.40% a year ago; provision for credit losses surged to $2.3M from $617k.
- Loans declined to $1.9B; deposits stable at $2.1B; nonperforming loans improved to 0.67% of loans.
- Allowance for credit losses increased to 1.14% of loans from 0.94% a year ago; $150k net charge-offs.
- CEO says results underperformed expectations; cites deposit cost pressure, loan demand weakness, credit quality deterioration.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1730984/000173098424000013/0001730984-24-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1730984/000173098424000013/bcml-20240125x8k.htm
  HTML page:      https://secwatch.observer/filing/0001730984-24-000013

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