- BayCom Corp (BCML, Financial) reported second-quarter 2025 earnings of $6.4 million, or $0.58 per diluted share, marking a 11.6% increase from the prior quarter's profit.
- The increase in earnings was driven by reduced provision for credit losses and increased net interest income.
- The company declared a $0.20 cash dividend per share, reflecting its ongoing commitment to shareholder value.
BayCom Corp (BCML), the holding company for United Business Bank, announced second-quarter 2025 earnings of $6.4 million, or $0.58 per diluted share. This figure represents an 11.6% increase in net income compared to the first quarter of 2025, which recorded earnings of $5.7 million, or $0.51 per diluted share. This uptick in earnings is also a 13.6% increase from the $5.6 million earned in the second quarter of 2024.
The quarterly performance was largely supported by a $439,000 reduction in provision for credit losses, a $280,000 boost in net interest income, and a $235,000 drop in noninterest expense. However, these gains were partially offset by a $365,000 increase in provision for income taxes.
BayCom continued its strategic financial management through share repurchases, buying back 148,450 shares at an average price of $25.88 during the quarter. This compares to 50,793 shares repurchased in the first quarter of 2025 at $25.82 each.
On May 21, 2025, BayCom declared a cash dividend of $0.20 per share, which was paid on July 10, 2025, to shareholders of record as of June 12, 2025. This strategic move underscores BayCom's focus on returning value to its shareholders.
Assets remained constant at $2.6 billion as of June 30, 2025, with loans, net of deferred fees, totaling $2.0 billion. As of the end of the quarter, nonperforming loans accounted for 0.82% of total loans, an increase from 0.51% in the previous quarter.
Looking ahead, President and CEO George Guarini noted the importance of maintaining strong credit discipline and controlling operating expenses amidst potential economic challenges. BayCom remains vigilant in monitoring loan quality and is committed to its strategic goals of share repurchase and cash dividends to ensure long-term shareholder value.
