BayCom Corp filed its Form 10-Q for the quarterly period ended June 30, 2026 with the SEC on August 10, 2026, reporting a net loss of $6,962 thousand for the second quarter alongside six-month net income of $1,218 thousand.

Key Highlights

  • Q2 net loss: BayCom reported a net loss of $6,962 thousand for the three months ended June 30, 2026, compared to net income of $6,364 thousand in the same period of 2025.
  • Provision for credit losses surge: The provision for credit losses reached $5,241 thousand in Q2 2026, up from $203 thousand in Q2 2025.
  • Salaries and employee benefits: Noninterest expense for salaries and employee benefits was $21,049 thousand in Q2 2026, compared to $9,728 thousand in Q2 2025.
  • Total assets: As of June 30, 2026, total assets were $2,580,081 thousand, down from $2,593,677 thousand at December 31, 2025.
  • Net interest income: Net interest income was $23,728 thousand for Q2 2026, compared to $23,160 thousand for Q2 2025.
  • Basic and diluted loss per share: Basic and diluted loss per common share was $(0.64) for Q2 2026, versus earnings of $0.58 per share in Q2 2025.
  • Shares outstanding: As of August 4, 2026, there were 10,920,117 shares of common stock outstanding.

BayCom Corp Q2 2026 Financial Results: Loss Driven by Higher Provisions and Elevated Compensation Costs

According to the filing, BayCom Corp (NASDAQ: BCML), the parent of United Business Bank, recorded a net loss of $6,962 thousand for the three months ended June 30, 2026, a reversal from net income of $6,364 thousand in the comparable prior-year quarter. For the six months ended June 30, 2026, the company reported net income of $1,218 thousand, compared to $12,066 thousand for the same period in 2025. The registrant is headquartered at 500 Ygnacio Valley Road, Suite 200, Walnut Creek, California.

The filing shows total interest and dividend income of $32,249 thousand for Q2 2026, down from $33,453 thousand in Q2 2025, while total interest expense declined to $8,521 thousand from $10,293 thousand over the same comparison. The resulting net interest income of $23,728 thousand was modestly higher than the prior-year quarter's $23,160 thousand. However, the provision for credit losses rose sharply to $5,241 thousand in Q2 2026 from $203 thousand in Q2 2025, and to $4,571 thousand for the six-month period from $845 thousand in the first half of 2025. The allowance for credit losses on loans stood at $22,950 thousand as of June 30, 2026, compared to $21,210 thousand at December 31, 2025.

Total noninterest expense was $27,158 thousand in Q2 2026, more than double the $15,754 thousand reported in Q2 2025. The filing attributes the bulk of this increase to salaries and employee benefits, which rose to $21,049 thousand in Q2 2026 from $9,728 thousand a year earlier. Total deposits were $2,169,918 thousand at June 30, 2026, compared to $2,213,640 thousand at December 31, 2025. Total shareholders' equity was $335,390 thousand at June 30, 2026, down from $338,554 thousand at year-end 2025. Retained earnings declined to $173,574 thousand from $178,903 thousand over the same period.

What Was Disclosed

BayCom Corp's 10-Q for the period ended June 30, 2026 disclosed a Q2 net loss of $6,962 thousand, a sharply higher provision for credit losses, and a significant increase in salaries and employee benefits expense compared to the prior-year quarter, alongside a modest decline in total assets and deposits.