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Highlights

  • BayCom Corp reported net income of USD 6.4 million in Q2 2025, up 11.6% from Q1 2025.
  • Annualized net interest margin declined to 3.77% in Q2 2025 from 3.83% in the prior quarter.
  • Non-performing loans increased to 0.82% of total loans as of June 30, 2025, from 0.51% in Q1 2025.

BayCom Corp (NASDAQ:BCML), the holding company for United Business Bank, announced net earnings of USD 6.4 million for the quarter ended June 30, 2025, representing an increase from USD 5.7 million in the prior quarter and USD 5.6 million in the same quarter of the previous year. Earnings per diluted share for the quarter were USD 0.58, up from USD 0.51 in Q1 2025 and USD 0.50 in Q2 2024.

The company attributed the sequential improvement in net income primarily to a USD 439,000 reduction in provision for credit losses, a USD 280,000 rise in net interest income, and a USD 235,000 decrease in noninterest expenses. These gains were partially offset by a USD 365,000 increase in provision for income taxes. Compared to Q2 2024, earnings rose by USD 764,000, or 13.6%, on the back of higher interest income and reduced expenses.

Net interest income for the quarter totaled USD 23.2 million, reflecting a 1.2% increase from the previous quarter. Interest in income on loans, including fees, rose to USD 28.0 million, driven by higher average loan balances. However, annualized net interest margin narrowed to 3.77%, down from 3.83% in Q1 2025, reflecting rising deposit costs.

Total assets held steady at USD 2.6 billion, while total loans remained at USD 2.0 billion. Deposits increased to USD 2.2 billion from USD 2.1 billion at the end of Q1 2025. Noninterest-bearing deposits represented 28.2% of total deposits as of June 30, 2025.

Nonperforming loans rose to USD 16.4 million, or 0.82% of total loans, up from USD 10.0 million, or 0.51%, at the end of the previous quarter. The increase was mainly due to seven commercial real estate loans being placed on non-accrual status and a rise in loans past due by 90 days or more.

The company recorded a provision for credit losses of USD 203,000, compared to USD 642,000 in Q1 2025. Net charge-offs during the quarter were USD 13,000. The allowance for credit losses stood at USD 18.7 million, representing 0.93% of total loans.

During the quarter, BayCom repurchased 148,450 shares at an average cost of USD 25.88 and declared a cash dividend of USD 0.20 per share. Shareholders’ equity reached USD 330.6 million at quarter-end.