BayCom Q1 net income up 43%, flags executive transition charges in Q2

Baycom

23/04/2026 21:49

Overview

US regional bank's Q1 net income rose 43% yr/yr, beating analyst expectations

Q1 results boosted by $670,000 reversal of provision for credit losses and higher net interest income

Company announced executive leadership transition after quarter-end with new CEO, CFO and executive vice chair

Outlook

Company says loan demand was challenging in Q1 due to economic uncertainty

BayCom sees a stronger loan pipeline in April and expects momentum to build through 2026

Company expects to recognize executive transition charges in Q2 2026

Result Drivers

CREDIT LOSS REVERSAL - $670,000 reversal of provision for credit losses driven by lower loan balances and improved economic forecasts

HIGHER NET INTEREST INCOME - Net interest income rose due to higher yields on loans, special FHLB dividend, and lower deposit costs

NONINTEREST INCOME SWING - Noninterest income increased due to fair value adjustments on equity securities and gains on sale of loans

Company press release: ID:nBw7WM8cZa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
Beat
$8.18 mln
$6.68 mln (3 Analysts)
Q1 Net Interest Income
$25.20 mln
Q1 Loan Loss Provision
-$670,000


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "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 is $33.00, about 14.6% above its April 22 closing price of $28.79

The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)