BayCom Corp Q3 net income $6.0M ($0.54 EPS) down 9.2% YoY; NIM stabilizes at 3.73%

BayCom Corp

2024-Q3 EPS reported $1.55

Net income $6.0M ($0.54 diluted EPS) vs $5.6M QoQ and $6.6M YoY; net interest margin 3.73% (prior Q 3.69%, YoY 4.03%).
Nonperforming loans fell to $9.7M (0.51% of loans) from $16.1M (0.87%) at June 30, 2024, after sales and charge-offs.
Provision for credit losses was $1.2M in Q3 vs $171k in Q2, driven by economic forecasts and a $9.5M construction commitment.
Loans, net of deferred fees, rose $47.9M from June 30 to $1.9B; deposits $2.1B, noninterest-bearing $618.3M (28.9%).

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