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Stock impact report

BayCom Corp Reports 2024 Third Quarter Earnings of $6.0 Million

BayCom Corp (BCML) 
Company Research Source: Business Wire
WALNUT CREEK, Calif.--(BUSINESS WIRE)--BayCom Corp (“BayCom” or the “Company”) (NASDAQ: BCML), the holding company for United Business Bank (the “Bank” or “UBB”), announced earnings of $6.0 million, or $0.54 per diluted common share, for the third quarter of 2024, compared to earnings of $5.6 million, or $0.50 per diluted common share, for the second quarter of 2024 and $6.6 million, or $0.56 per diluted common share, for the third quarter of 2023.Net income for the third quarter of 2024 compared to the second quarter of 2024 increased $417,000, or 7.4%, primarily as a result of a $570,000 increase in net interest income and a $1.3 million increase in noninterest income, partially offset by a $1.1 million increase in provision for credit losses, a $62,000 increase in noninterest expense and a $279,000 increase in provision for income taxes. Net income for the third quarter of 2024 compared to the third quarter of 2023 decreased $613,000, or 9.2%, primarily as a result of a $1.9 mi Show less Read more
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