Baycom Q2 2023 Earnings Report
Key Takeaways
BayCom Corp reported second quarter earnings of $7.2 million, or $0.59 per diluted common share. The company saw an increase in net income compared to the first quarter of 2023, primarily due to a decrease in provision for credit losses. However, this was partially offset by a decrease in net interest income and noninterest income.
Net income for the second quarter of 2023 was $7.2 million, or $0.59 per diluted common share.
Annualized net interest margin was 4.02% for the current quarter.
Annualized return on average assets was 1.13% for the current quarter.
Nonperforming loans totaled $12.8 million or 0.64% of total loans at June 30, 2023.
Baycom
Baycom
Forward Guidance
The press release does not contain specific forward guidance. It contains forward-looking statements that are subject to risks and uncertainties.