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Jun 30, 2022
Baycom Q2 2022 Earnings Report
Net income decreased due to increase in provision for loan losses and a decrease in noninterest income, partially offset by an increase in net interest income and a decrease in noninterest expense.
Key Takeaways
BayCom Corp reported second quarter earnings of $5.2 million, or $0.38 per diluted common share. The financial results were encouraging during the second quarter of 2022, other than an increase in provision for loan losses primarily related to one partial loan charge-off.
Net income for the second quarter of 2022 was $5.2 million, or $0.38 per diluted common share.
Annualized net interest margin was 3.59% for the current quarter.
Assets totaled $2.7 billion at June 30, 2022.
Loans, net of deferred fees, totaled $2.0 billion at June 30, 2022.
Forward Guidance
The company is encouraged by a strong loan pipeline going into the second half of the year and will continue to look for M&A opportunities to expand geographical market reach.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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