Form 8-K - Current report

0001730984false00017309842024-11-202024-11-20

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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): November 20, 2024

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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)

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Registrant’s telephone number, including area code: [phone]

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Not Applicable

(Former name or former address, if changed from last report)

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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):

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☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

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☐    Soliciting material pursuant to rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

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☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

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☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Securities registered pursuant to Section 12(b) of the Act:

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Title of each Class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock	BCML	The Nasdaq Stock Market LLC

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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).

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Emerging growth company  ☐

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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. ☐

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Item 8.01 OTHER EVENTS

 

On November 20, 2024, BayCom Corp (the “Company”) issued the press release attached hereto as Exhibit 99.1 and incorporated herein by reference announcing the declaration of a quarterly cash dividend on the Company’s common stock of $0.15 per share, payable on January 10, 2025 to shareholders of record as of the close of business on December 12, 2024.

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ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

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(a) Not applicable.

(b) Not applicable. (c) Not applicable.

(d) The following exhibits are included with this report:

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(d) Exhibits

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Exhibit No. ​	​	​ Exhibit Description ​ ​

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99.1		​	Press Release dated November 20, 2024 announcing cash dividend
104.0		​	Cover Page Interactive Data File (embedded within the Inline XBRL document)

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SIGNATURES

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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.

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	BAYCOM CORP
Date: November 20, 2024	/s/ Keary L Colwell
	Keary L. Colwell, Senior Executive Vice President,
​	Chief Financial Officer and Corporate Secretary
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Exhibit 99.1

Press Release

BAYCOM CORP INCREASES QUARTERLY CASH DIVIDEND

50% TO $0.15 PER SHARE

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WALNUT CREEK, California, November 20, 2024 – BayCom Corp (NASDAQ: BCML) (“BayCom” or the “Company”), the parent company of United Business Bank, today announced that its Board of Directors declared a quarterly cash dividend of $0.15 per share on the Company's outstanding common stock, which represents a 50% increase (from $0.10 per share) in the Company’s quarterly dividend. The dividend is payable on January 10, 2025 to shareholders of record as of the close of business on December 12, 2024.

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About BayCom Corp

The Company, through its wholly owned operating subsidiary, United Business Bank, offers a full range of loans, including SBA, CalCAP, FSA and USDA guaranteed loans, and deposit products and services to businesses and their affiliates in California, Nevada, Washington, New Mexico and Colorado. The Bank is an Equal Housing Lender and a member of FDIC. The Company’s common stock is traded on the NASDAQ under the symbol “BCML”. For more information, go to www.unitedbusinessbank.com.

Forward-Looking Statements

Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to the Company's financial condition, results of operations, plans, objectives, future performance or business, including information regarding the ability of BayCom to pay dividends in the future. You should not place undue reliance on these statements, as they are subject to risks and uncertainties, and actual results and performance in future periods may be materially different from any future results or performance suggested by the forward-looking statements in this release. Factors that might cause such differences include, but are not limited to, the Company’s financial condition and results of operations, general economic conditions, as well as those within the Company’s industry, and numerous other factors identified in BayCom's Annual Report on Form 10-K for the year ended December 31, 2023, subsequent Quarterly Reports on Form 10-Q and other documents filed with or furnished to the Securities and Exchange Commission. Such forward-looking statements speak only as of the date of this release. The Company expressly disclaims any obligation to update or revise any forward-looking statements made herein to reflect any changes in the Company's expectations of results or any change in events.

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CONTACT:

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BayCom Corp

Keary Colwell, 925-476-1800

[e-mail]

Source: BayCom Corp

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Document and Entity Information	Nov. 20, 2024
Cover [Abstract]
Document Type	8-K
Document Period End Date	Nov. 20, 2024
Entity File Number	001-38483
Entity Registrant Name	BAYCOM CORP
Entity Incorporation, State or Country Code	CA
Entity Tax Identification Number	37-1849111
Entity Address, Address Line One	500 Ygnacio Valley Road
Entity Address, Adress Line Two	Suite 200
Entity Address, City or Town	Walnut Creek
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94596
City Area Code	925
Local Phone Number	476-1800
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock
Trading Symbol	BCML
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Entity Central Index Key	0001730984
Amendment Flag	false

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