BayCom Corp Q2 net income $5.6M ($0.50 EPS) down 4.7% QoQ and 22.3% YoY

BayCom Corp

2024-Q2 EPS reported $1.01

Net income $5.6M ($0.50 diluted EPS) vs $5.9M ($0.51) in Q1 2024 and $7.2M ($0.59) in Q2 2023.
Net interest margin narrowed to 3.69% from 3.72% QoQ and 4.02% YoY; net interest income $22.3M.
Nonperforming loans $16.1M (0.87% of loans); allowance for credit losses $19.0M (1.02%).
Repurchased 204,794 shares at avg $20.17 in Q2; declared $0.10 dividend paid July 11.
CEO cites low loan demand and stabilizing deposits; cautious optimism for H2 2024.

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