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Sep 30, 2021
Baycom Q3 2021 Earnings Report
Net income increased driven by growth in noninterest income, partially offset by changes in provision for loan losses and noninterest expense.
Key Takeaways
BayCom Corp reported third quarter earnings of $5.4 million, or $0.51 per diluted share. The company's financial results continued the positive trend from the previous quarter, with improving business activity and a strong loan pipeline.
Earnings of $5.4 million, or $0.51 per diluted share
Annualized net interest margin was 3.17%
Annualized return on average assets was 0.92%
Assets totaled $2.4 billion
Baycom
Baycom
Forward Guidance
Company is looking forward to closing merger with Pacific Enterprise Bank early in the first quarter of 2022.
Positive Outlook
- Improving level of business activity in our markets
- Loan pipeline is strong going into the fourth quarter
- Focus on growth through strategic acquisitions
- Diversify our loan portfolio with seasoned loans
- Expand our market areas