BayCom Corp reported its financial results for the second quarter of 2025, revealing a net income of $6.4 million, a 13.6% increase from $5.6 million in the same period last year. For the first half of 2025, net income reached $12.1 million, up 5.1% from $11.5 million in the prior year. The company's earnings per share improved to $0.58 for the second quarter and $1.09 for the first half, compared to $0.50 and $1.01, respectively, in 2024. The increase in profitability was primarily driven by a rise in net interest income, which grew by $865,000 to $23.2 million for the quarter, and a decrease in noninterest expenses.
Total assets for BayCom decreased by $42.1 million, or 1.6%, to $2.6 billion as of June 30, 2025, compared to December 31, 2024. This decline was mainly attributed to a $72.4 million drop in cash and cash equivalents, partially offset by a $47.4 million increase in net loans, which totaled $1.98 billion. The loan portfolio saw a 2.4% increase from the previous period, driven by $227.2 million in new loan originations. The company’s allowance for credit losses rose to $18.7 million, or 0.94% of total loans, reflecting growth in the loan portfolio and adjustments for higher-risk categories.
In terms of operational metrics, BayCom's total deposits decreased by $47.4 million, or 2.1%, to $2.2 billion, with noninterest-bearing demand deposits falling significantly. The company reported a shift in customer preferences towards interest-bearing accounts, which contributed to the overall decline in deposits. The bank's efficiency ratio improved to 63.85% for the second quarter, down from 67.34% a year earlier, indicating better cost management relative to income.
Strategically, BayCom continues to focus on expanding its commercial banking franchise through both organic growth and acquisitions. The company operates 34 full-service branches across several states, including California, Nevada, and Colorado. As of June 30, 2025, BayCom had approximately $2.6 billion in total assets and $330.6 million in shareholders' equity. The company remains committed to maintaining a strong capital position, with all capital ratios exceeding regulatory requirements, ensuring it is well-capitalized to support future growth initiatives.
Looking ahead, BayCom Corp anticipates continued growth in its loan portfolio and remains focused on enhancing shareholder value through strategic initiatives. The company plans to maintain its dividend policy, having declared a quarterly cash dividend of $0.20 per share, reflecting its commitment to returning capital to shareholders while investing in growth opportunities.
About BayCom Corp
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.