BayCom Corp reported first‑quarter 2026 net income of $8.2 million, or $0.75 per diluted share, up from $6.9 million ($0.63) in the fourth quarter of 2025 and $5.7 million ($0.51) in the first quarter of 2025. Net income rose 43.5% year‑over‑year, and earnings per share increased 47%, reflecting a combination of higher net interest income, a $660,000 lift in noninterest income, and a reversal of credit‑loss provisions that added $670,000 to earnings.
Total revenue for the quarter reached $26.7 million, beating the consensus estimate of $25.95 million by $0.75 million. The revenue gain was driven by a stronger mix of loan and fee income, with net interest income expanding as average loan yields rose and funding costs fell. The reversal of a $670,000 credit‑loss provision also contributed to the top‑line lift.
BayCom’s net interest margin (NIM) expanded to 4.11% in Q1 2026, up from 4.03% in Q4 2025 and 3.83% in Q1 2025. The margin growth reflects higher average loan yields, lower funding costs, and the positive impact of the credit‑loss reversal, which reduced the expense side of the income statement.
The loan portfolio stood at $2.0 billion as of March 31 2026, a 5% decline from the $2.1 billion reported at the end of the prior quarter but flat year‑over‑year. Provisions for credit losses were reversed in the quarter, improving net income. The commercial real‑estate (CRE) segment saw non‑performing loans rise to 0.83% of total loans, up from 0.65% at year‑end 2025, indicating a modest increase in credit risk within the bank’s core lending focus.
"I am excited to join BayCom and United Business Bank alongside my colleagues Chris Baron, the Company's new President & Chief Executive Officer, and Kevin Thompson, the Company's new Chief Financial Officer. I want to thank the departing executives, who worked tirelessly over the past 22 years to create a well‑respected institution with a strong foundation for future growth – a clean balance sheet, a strong deposit franchise, and a disciplined credit culture," said William Black, Executive Vice Chairman. Christopher Baron, the new CEO, added that the quarter’s financial metrics show continued improvement, with growing net interest income and stable credit quality, and that unusual items—including additional accretion income, an FHLB special dividend, and a reversal of provision for credit losses—boosted earnings by about $0.12 per share.
BayCom’s earnings beat analyst expectations, with diluted EPS of $0.75 surpassing the consensus estimate of $0.60 by $0.15, a 25% beat. Revenue also exceeded estimates by $0.75 million. Market reaction was muted, with analysts noting the strong earnings beat but also cautioning about the rising non‑performing asset ratio in the CRE portfolio. The results reinforce confidence in BayCom’s growth strategy while highlighting the need to monitor credit quality as the bank expands its deposit franchise and CRE lending footprint.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.