BCML

EX-99.1

2 bcml-20260723xex99d1.htm

EX-99.1

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Exhibit 99.1

Press Release

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BayCom Corp Announces 2026 Second Quarter Results

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WALNUT CREEK, CA, July 23, 2026—(Business Wire) BayCom Corp (“BayCom” or the “Company”) (NASDAQ: BCML), the holding company for United Business Bank (the “Bank”), today announced a net loss of $7.0 million, or $(0.64) per diluted common share, for the second quarter of 2026, compared to net income of $8.2 million, or $0.75 per diluted common share, for the first quarter of 2026, and $6.4 million, or $0.58 per diluted common share, for the second quarter of 2025.

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Financial results for the second quarter of 2026 included $10.5 million of expenses related to severance, accelerated equity award vesting and employee benefits associated with the previously announced departures of three senior executives; $380,000 of accelerated premium amortization on acquired loans due to seasoning, which negatively impacted the average loan yield by eight basis points; and a $5.2 million provision for credit losses, primarily reflecting loan growth, increased required reserves on certain individually evaluated loans, and the impact of $2.8 million of net charge offs during the quarter.

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Financial results for the first quarter of 2026 were affected by certain items impacting comparability, including a combined $1.2 million of accelerated discount accretion and interest recovery resulting from the payoff of a single acquired $4.0 million commercial real estate loan, which increased average loan yield by 23 basis points; a $330,000 FHLB special dividend; and a $670,000 reversal of provision for credit losses due to a decrease in total loans outstanding during the first quarter of 2026.

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William Black, Executive Vice Chairman, commented, “Having completed our first quarter under our new executive leadership team, I want to thank the outstanding team members and customers of United Business Bank for their continued support. We are moving fast to capture new business opportunities, while positioning the balance sheet for the future — which in the current quarter included exiting certain loan relationships that do not fit our go-forward business model.”

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Christopher Baron, President and Chief Executive Officer, commented, “Our diversified, relationship-driven deposit franchise remains one of our greatest advantages — despite competitive pressure, we lowered our cost of deposits seven basis points to 1.56% this quarter. While one-time severance and benefit costs from our executive transition affected reported results, our underlying business is strong, and healthy deposit and loan pipelines have us well-positioned for the quarters ahead.”

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Second Quarter 2026 Performance Highlights:

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●Total loans increased $64 million, or 3.2%, in the quarter, with strong loan growth especially at the end of the quarter.

●Average cost of deposits decreased to 1.56%, or 7 basis points from the prior quarter.

●Severance and employee benefit expenses related to departing executives were $10.5 million, which represents full and one-time costs for associated obligations.

●A $5.2 million provision for credit losses was recorded during the quarter, reflecting loan growth, increased required reserves on certain individually evaluated loans, and the impact of $2.8 million of net charge-offs during the quarter.

●The allowance for credit losses for loans rose to $23.0 million or 1.11% of loans.

●Nonperforming loans decreased by $6.9 million during the quarter to $9.8 million, or 0.47% of total loans, a decrease of 36 basis points from the prior quarter-end.

●Capital ratios above the regulatory thresholds for "well capitalized" banks, with a Total Capital ratio of 14.87%, a Common Equity Tier 1 ratio of 13.76%, and Tangible Common Equity ratio of 11.62%.*

●On May 22, 2026, the Company announced the declaration of a cash dividend on the Company’s common stock of $0.30 per share, which was paid on July 9, 2026 to shareholders of record as of June 11, 2026.

*Tangible Common Equity ratio is a non-GAAP financial measure.  See the reconciliation of GAAP and non-GAAP financial measures is presented at the end of this release.

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Earnings

The Company reported a net loss of $7.0 million for the second quarter of 2026, compared to net income of $8.2 million for the first quarter of 2026. This decrease primarily reflected a $10.7 million increase in noninterest expense, driven largely by $10.5 million of severance, accelerated equity award vesting, and employee benefit costs associated with the  previously announced departures of three senior executives, together with a $5.9 million increase in the provision for credit losses, compared to a $670,000 reversal of the provision for credit losses in the prior quarter. Net interest income also declined $1.5 million during the quarter, while noninterest income decreased by $59,000. These changes were partially offset by a $2.9 million decrease in the provision for income

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BAYCOM CORP_January 22, 2026 0001730984false00017309842026-01-222026-01-22 ​ ​

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington D.C. 20549 ​

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FORM 8-K

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​ Current report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 22, 2026 ​

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BAYCOM CORP

(Exact name of registrant as specified in its charter) ​

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California ​ ​ ​ 001-38483 ​ ​ ​ 37-1849111

(State or other jurisdiction of incorporation or organization) ​ (Commission File No.) ​ (I.R.S. Employer Identification No.)

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500 Ygnacio Valley Road, Suite 200, Walnut Creek, CA ​ ​ ​ 94596

(Address of principal executive offices) ​ (Zip Code)

​ Registrant’s telephone number, including area code: (925) 476-1800 ​

​ Not Applicable (Former name or former address, if changed from last report) ​

​ Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): ​ ☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ​ ☐    Soliciting material pursuant to rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ​ ☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ​ ☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ​ Securities registered pursuant to Section 12(b) of the Act: ​

Title of each Class Trading Symbol(s) Name of each exchange on which registered

Common Stock

BCML

The Nasdaq Stock Market LLC

​ Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). ​ Emerging growth company  ☐ ​ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ ​ ​ ​ ​

Item 2.02. Results of Operations and Financial Condition ​ On January 22, 2026, BayCom Corp issued its earnings release for the quarter and year ended December 31, 2025. A copy of the press release is attached as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference. ​ Item 9.01. Financial Statements and Exhibits ​ (d) Exhibits ​ ​ ​

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99.1 ​ Press Release dated January 22, 2026

104 ​ Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)

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SIGNATURES

​ Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. ​ ​

BAYCOM CORP

Date: January 22, 2026 /s/ Keary L Colwell

Keary L. Colwell, Senior Executive

​ Vice President, Chief Financial Officer

​ and Secretary

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