BayCom Corp announced net income of $6.4 million for the second quarter of 2025, with diluted earnings per share of $0.58. This represents a 13.6% increase in net income year-over-year from $5.6 million in Q2 2024, and a sequential increase from $5.7 million in Q1 2025. The Q2 EPS surpassed analyst estimates.
Net interest income increased by $865,000, or 3.9%, to $23.2 million in Q2 2025, driven by higher yields on interest-earning assets. The annualized net interest margin improved to 3.77% in Q2 2025 from 3.69% in Q2 2024, reflecting effective asset-liability management. The efficiency ratio also improved to 63.85% from 67.34% in Q2 2024.
Total loans increased by $47.4 million, or 2.4%, to $2.00 billion at June 30, 2025. However, total deposits decreased by $47.4 million, or 2.1%, to $2.19 billion, primarily due to a $72.9 million reduction in noninterest-bearing demand deposits. Nonperforming assets rose by $6.9 million to $16.4 million, representing 0.82% of total loans, primarily in commercial and industrial and commercial real estate portfolios. The allowance for credit losses increased to $18.7 million, or 0.94% of total loans.
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