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Sep 30, 2020
Baycom Q3 2020 Earnings Report
BayCom Corp reported earnings with an increase compared to the previous quarter, but a decrease compared to the same quarter last year, impacted by the COVID-19 pandemic and acquisition-related activities.
Key Takeaways
BayCom Corp reported third-quarter earnings of $3.2 million, or $0.27 per diluted share, which is an increase compared to the second quarter of 2020 but a decrease compared to the third quarter of 2019. The results reflect the ongoing impact of the COVID-19 pandemic and acquisition-related activities.
Net income increased by $130,000 compared to the prior quarter.
The company funded 1,359 PPP loans totaling $140.2 million through the conclusion of the PPP on August 8, 2020.
Loans modified related to COVID-19 totaled $78.1 million.
Assets totaled $2.3 billion at September 30, 2020.
Forward Guidance
The company anticipates future results will be further impacted by the COVID-19 pandemic in a number of areas and will continue to proactively monitor modified loans and other loans at heightened risk.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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