BayCom Corp reported its financial results for the third quarter of 2025, revealing a net income of $5.0 million, a decrease of 13.6% from $6.0 million in the same period last year. For the nine months ending September 30, 2025, net income was $17.1 million, down 2.4% from $17.5 million in 2024. The decline in profitability was attributed to a $1.7 million increase in the provision for credit losses and a $496,000 drop in noninterest income, which was partially offset by a $543,000 rise in net interest income. Basic and diluted earnings per share for the quarter were $0.46, compared to $0.54 in the prior year.
Total assets decreased by $60.7 million, or 2.3%, to $2.6 billion as of September 30, 2025, primarily due to a significant decline in cash and cash equivalents, which fell by $135.6 million. This reduction was largely a result of funding the early redemption of $63.7 million in subordinated notes and supporting loan growth. Loans receivable increased by $89.4 million, or 4.6%, to $2.0 billion, driven by $337.2 million in new loan originations, although this was offset by repayments and sales.
In terms of operational metrics, the company’s loan portfolio included $245.1 million, or 12.0%, of loans acquired through business combinations. The allowance for credit losses rose to $20.8 million, representing 1.02% of total loans, compared to $17.9 million, or 0.92%, at the end of 2024. Nonperforming loans increased to $13.9 million, or 0.68% of total loans, reflecting elevated credit risk primarily in the commercial and industrial sectors.
BayCom Corp continues to focus on expanding its commercial loan portfolio through both acquisitions and organic growth. The company operates 34 full-service branches across several states, including California, Nevada, and Colorado. The management remains optimistic about future growth, citing a strong market presence and a commitment to enhancing shareholder value through strategic initiatives. The company also plans to maintain its quarterly cash dividend of $0.25 per share, reflecting its ongoing commitment to returning value to shareholders.
About BayCom Corp
BayCom Corp is a bank holding company whose wholly owned subsidiary, United Business Bank, provides commercial banking services primarily to small and medium-sized businesses, trade unions, professionals, and individuals across California, Nevada, Colorado, New Mexico, and Washington. The bank offers diversified lending products including commercial real estate, commercial and industrial, SBA, construction, and consumer loans, funded mainly by core deposits. It emphasizes relationship banking with personalized service and a focus on community markets.
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