BayCom Corp Reports Q2 Net Loss, Misses Estimates Due to Executive Transition Costs and Higher Credit Provisions
BCML sits 25% above its 52-week low of $26.31.
Summary
BayCom Corp announced a net loss of $7.0 million, or $(0.64) per diluted share, for Q2 2026, missing consensus estimates, primarily due to $10.5 million in executive transition costs and increased credit loss provisions.
Key Events · Earnings and Guidance · BCML
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Q2 Net Loss Reported
BayCom Corp reported a net loss of $7.0 million, or $(0.64) per diluted share, for the second quarter of 2026, a significant decline from $8.2 million net income in Q1 2026 and $6.4 million in Q2 2025.
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Missed Analyst Estimates
The reported diluted EPS of $(0.64) badly missed the consensus estimate of $0.42 per share.
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Executive Transition Costs
Financial results included $10.5 million in one-time severance, accelerated equity award vesting, and employee benefits associated with previously announced senior executive departures.
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Increased Credit Loss Provisions
A $5.2 million provision for credit losses was recorded, primarily reflecting loan growth, increased required reserves on certain individually evaluated loans, and $2.8 million in net charge-offs during the quarter.
Analysis · BCML · Finance
BayCom Corp reported a significant net loss for the second quarter, swinging from a profit in the prior quarter and missing analyst expectations. The loss was primarily driven by $10.5 million in one-time severance and employee benefit expenses related to senior executive departures, alongside a $5.2 million provision for credit losses and $2.8 million in net charge-offs. While the company saw loan growth and a decrease in nonperforming loans, these positive operational aspects were overshadowed by the substantial one-time costs and the overall net loss.
At the time of this filing, BCML was trading at $32.77 on NASDAQ in the Finance sector, with a market capitalization of approximately $361.4M. The 52-week trading range was $26.31 to $34.98. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.