Overview

* BayCom ( BCML ) reports Q2 net income of $6.4 mln, beating analysts' expectations

* Net interest income rose to $23.2 mln, driven by higher loan income

* Co repurchased 148,450 shares

Outlook

* BayCom ( BCML ) remains focused on managing operating expenses amid economic uncertainty

* Company emphasizes strong credit discipline and monitoring loan quality

* BayCom ( BCML ) committed to strategic share repurchases and dividend payments

* Company acknowledges potential for economic conditions to deteriorate

Result Drivers

* NET INTEREST INCOME - Increase driven by higher loan and investment securities income, despite higher deposit expenses

* CREDIT LOSS PROVISION - Significant decrease in provision for credit losses compared to previous quarter

* NONINTEREST EXPENSE - Decline due to reduced salaries and benefits, and other expenses

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Net Beat $6.36 $6.13

Income mln mln (3

Analysts

)

Q2 Net $23.16

Interest mln

Income

Q2 Loan $203,000

Loss

Provisio

n

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy"

* Wall Street's median 12-month price target for BayCom Corp ( BCML ) is $30.00, about 8.6% above its July 16 closing price of $27.43

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)