- BayCom Corp (BCML, Financial) reports Q1 2025 earnings of $5.7 million, marking a 6.8% decrease from Q4 2024.
- Net interest margin rose to 3.83%, despite a $694,000 decrease in net interest income.
- The company declared a $0.15 per share cash dividend, continuing its shareholder-friendly strategies.
BayCom Corp (BCML) announced first-quarter 2025 earnings of $5.7 million, equating to $0.51 per diluted share. This represents a 6.8% reduction from $6.1 million, or $0.55 per share, reported in the fourth quarter of 2024. The decrease in net income was primarily attributed to a $1.0 million rise in credit loss provisions and a $694,000 decline in net interest income.
Despite these challenges, the bank's net interest margin improved to 3.83%, compared to 3.80% in Q4 2024 and 3.72% in Q1 2024, showcasing enhanced management of interest-earning assets. The return on average assets, however, fell to 0.89% from 0.94% in the previous quarter.
BayCom maintained its strong loan portfolio at $2.0 billion, with nonperforming loans accounting for 0.51% of the total loans, which is a notable improvement from the previous year. Additionally, the company declared a cash dividend of $0.15 per share, reflecting its continued commitment to returning value to shareholders.
The bank continued its share repurchase program, buying back 50,793 shares at an average cost of $25.82 per share during the quarter. This strategic capital allocation underscores the management's confidence in the company's financial stability and capital strength.
