Quarterly ResultJul 23, 2026, 04:13 PM
BayCom Corp Q2 Net Loss $7.0M; EPS $(0.64)
AI Summary
BayCom Corp announced a net loss of $7.0 million, or $(0.64) per diluted common share, for the second quarter of 2026. This was primarily driven by $10.5 million in one-time severance and employee benefit expenses related to executive departures, and a $5.2 million provision for credit losses. Despite the net loss, the company reported a 3.2% increase in total loans and a decrease in the average cost of deposits, with management expressing confidence in the underlying business strength and future positioning.
Key Highlights
- Reported a net loss of $7.0 million for the second quarter of 2026.
- Diluted earnings per share was $(0.64) for Q2 2026.
- Included $10.5 million in severance and employee benefit expenses for executive departures.
- Recorded a $5.2 million provision for credit losses in the quarter.
- Total loans increased by $64 million, or 3.2%, during the quarter.
- Average cost of deposits decreased by 7 basis points to 1.56%.
- Nonperforming loans decreased by $6.9 million to $9.8 million, or 0.47% of total loans.
- Declared a cash dividend of $0.30 per share, paid on July 9, 2026.
Price Impact
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