BayCom Corp Q1 2024 earnings fall to $5.9M ($0.51/sh); NIM narrows to 3.72%

BayCom Corp

2024-Q1 EPS reported $0.51

Net income of $5.9M ($0.51 diluted EPS) vs $6.4M ($0.55) in Q4 2023 and $7.2M ($0.57) in Q1 2023.
Net interest margin declined to 3.72% from 3.86% QoQ and 4.26% YoY; loan average yield fell 1 bp.
Nonperforming loans rose to $16.5M (0.64% of loans) from $13.0M at Dec 31, 2023.
Provision for credit losses was $252k, down from $2.3M in Q4 2023; net charge-offs were $3.4M.
Repurchased 198,120 shares at avg $20.20; declared $0.10/sh dividend paid April 12.

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 2024 results: net income $5.9 million, EPS $0.51 per diluted common share.

Period: the first quarter of 2024
Net income: $5.9 million
EPS: $0.51 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 $5.9 million, or $0.51 per diluted common share, for the first quarter of 2024, compared to earnings of $6.4 million, or $0.55 per diluted common share, for the fourth quarter of 2023 and $7.2 million, or $0.57 per diluted common share, for the first quarter of 2023.

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Source: SEC EDGAR

accession 0001730984-24-000039

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