BayCom Corp 2025年季度报告

FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period endedMarch 31, 2025 or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period fromto Commission File Number:001-38483 BAYCOM CORP (Exact name of registrant as specified in its charter) California37-1849111 (State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.) 500 Ygnacio Valley Road,Suite 200,Walnut Creek,California94596 Registrant’s telephone number, including area code:(925)476-1800 None(Former name, former address and former fiscalyear, if changed since last report)Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the SecuritiesExchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file suchreports), and (2)has been subject to such filing requirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12months (or for such shorter period thatthe registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” accelerated filer,” “smallerreporting company” and “emerging growth company” in Rule12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section13(a)of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yes☐No☒Indicate the number of shares outstanding of each of the registrant’s classes of common stock as of the latest practicable date. As of May 7, 2025, there were11,006,943shares of the registrant’s common stock outstanding. BAYCOM CORPQUARTERLY REPORT ON FORM 10-QTABLE OF CONTENTS PART I — FINANCIAL INFORMATION2ITEM 1. FINANCIAL STATEMENTS2ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIALCONDITION AND RESULTS OF OPERATIONS33ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUTMARKET RISK53ITEM 4. CONTROLS AND PROCEDURES53PART II — OTHER INFORMATION54ITEM 1. LEGAL PROCEEDINGS54ITEM 1A. RISK FACTORS54ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OFPROCEEDS54ITEM 3. DEFAULTS UPON SENIOR SECURITIES54ITEM 4. MINE SAFETY DISCLOSURES54ITEM 5. OTHER INFORMATION55ITEM 6. EXHIBITS55 SIGNATURES 56 In this document, “BayCom” refers to BayCom Corp, the “Bank” refers to United Business Bank,BayCom’s wholly-owned subsidiary, and the “Company,” “we,” “us,” and “our” refer to BayCom andthe Bank collectively, unless the context otherwise requires. BAYCOM CORPQUARTERLY REPORT ON FORM 10-QTABLE OF CONTENTS PART I — FINANCIAL INFORMATION Item 1. Financial Statements Condensed Consolidated Balance Sheets (unaudited)3Condensed Consolidated Statements of Income (unaudited)4Condensed Consolidated Statements of Comprehensive Income (unaudited)5Condensed Consolidated Statements of Changes in Shareholders’ Equity(unaudited)6Condensed Consolidated Statements of Cash Flows (unaudited)7Notes to Condensed Consolidated Financial Statements (unaudited)9 BAYCOM CORP AND SUBSIDIARYCONDENSED CONSOLIDATED BALANCE SHEETS(In thousands, except for share data) BAYCOM CORP AND SUBSIDIARYCONDENSED CONSOLIDATED STATEMENTS OF INCOME(In thousands, except for share and per share data) (unaudited) BAYCOMCORP AND SUBSIDIARYCONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME(In thousands)(unaudited) BAYCOM CORP AND SUBSIDIARYCONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’EQUITY(In thousands, except for share and per share data) (unaudited) BAYCOM CORP AND SUBSIDIARYCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(In thousands) (unaudited) Three months endedMarch31,20252024 BAYCOM CORP AND SUBSIDIARYCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS – (continued)(In thousands) (unaudited) Three months endedMarch31,20252024 NOTE1– BASIS OF PRESENTATION BayCom Corp (the “Company”) is a bank holding company headquartered in Walnut Creek,California. United Business Bank (the “Bank”), the Company’s wholly owned banking subsidiary, isa California state-chartered bank which provides a broad range of financial services primarily to localsmall and mid-sized businesses, service professionals and individuals. In its20 yearsof operation, theBank has grown to35full-service banking branches, with16locations in Cali