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Stock impact report

BayCom Corp Reports 2023 Fourth Quarter Earnings of $6.4 Million [Yahoo! Finance]

BayCom Corp (BCML) 
Company Research Source: Yahoo! Finance
Business Bank (the "Bank" or "UBB"), announced earnings of $6.4 million, or $0.55 per diluted common share, for the fourth quarter of 2023, compared to earnings of $6.6 million, or $0.56 per diluted common share, for the third quarter of 2023 and $7.6 million, or $0.59 per diluted common share, for the fourth quarter of 2022. Net income for the fourth quarter of 2023 compared to the third quarter of 2023 decreased $234,000 or 3.5%, primarily as a result of a $1.3 million decrease in net interest income and a $1.7 million increase in provision for credit losses, partially offset by a $1.0 million increase in noninterest income, a $1.4 million decrease in noninterest expense and a $233,000 decrease in provision for income taxes. Net income for the fourth quarter of 2023 compared to the fourth quarter of 2022 decreased $1.2 million or 16.1%, primarily as a result of a $2.9 million decrease in net interest income and a $1.7 million increase in provision for credit losses, partially offs Show less Read more
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