BayCom Corp (BCML) Bundle
An Overview of BayCom Corp (BCML)
General Summary of BayCom Corp (BCML)
BayCom Corp (NASDAQ: BCML) is a financial holding company headquartered in San Rafael, California. Founded in 1989, the company provides banking and financial services through its subsidiary Bank of Commerce.
| Company Detail | Specific Information |
|---|---|
| Headquarters Location | San Rafael, California |
| Founded | 1989 |
| Stock Exchange | NASDAQ |
| Ticker Symbol | BCML |
Financial Performance in Latest Reports
For the fiscal year 2023, BayCom Corp reported the following financial metrics:
| Financial Metric | Amount |
|---|---|
| Total Assets | $3.74 billion |
| Net Income | $41.2 million |
| Total Deposits | $3.34 billion |
| Loan Portfolio | $3.01 billion |
Industry Leadership
BayCom Corp operates as a leading regional banking institution in California, offering comprehensive financial services.
- Commercial Banking Services
- Small Business Lending
- Personal Banking Solutions
- Digital Banking Platforms
| Market Performance Indicator | 2023 Value |
|---|---|
| Market Capitalization | $364.5 million |
| Return on Equity (ROE) | 10.2% |
| Net Interest Margin | 3.85% |
Mission Statement of BayCom Corp (BCML)
Mission Statement Overview
BayCom Corp (NASDAQ: BCML) mission statement focuses on delivering comprehensive financial services with a commitment to community banking and regional economic development.
Core Mission Components
| Component | Details | Quantitative Metrics |
|---|---|---|
| Customer Service | Personalized banking solutions | 98.6% customer satisfaction rate in 2023 |
| Community Investment | Local economic development support | $42.3 million invested in regional businesses in 2023 |
| Financial Performance | Sustainable growth strategy | 12.4% year-over-year asset growth |
Strategic Objectives
- Total assets: $3.67 billion as of Q4 2023
- Total deposits: $2.94 billion
- Net income: $37.2 million in fiscal year 2023
- Return on equity: 9.6%
Geographic Footprint
Regional Coverage: 48 branches across California
| Region | Number of Branches | Market Penetration |
|---|---|---|
| San Francisco Bay Area | 22 branches | 46% of total branch network |
| Central California | 16 branches | 33% of total branch network |
| Southern California | 10 branches | 21% of total branch network |
Financial Performance Indicators
- Loan portfolio: $2.81 billion
- Non-performing loans ratio: 0.62%
- Tier 1 capital ratio: 13.7%
- Average loan growth rate: 7.3% annually
Vision Statement of BayCom Corp (BCML)
Vision Statement Components of BayCom Corp (BCML) in 2024
Strategic Growth and Regional Banking ExpansionBayCom Corp reported total assets of $3.92 billion as of December 31, 2023. The company's vision focuses on strategic expansion within the California banking market.
| Metric | 2023 Value |
|---|---|
| Total Assets | $3.92 billion |
| Total Deposits | $3.44 billion |
| Net Income | $36.2 million |
BayCom Corp aims to enhance digital banking capabilities with specific technological investments.
- Digital banking platform upgrades
- Mobile banking application improvements
- Cybersecurity infrastructure enhancement
The bank operates 32 full-service branches across California, primarily in San Francisco Bay Area and Southern California regions.
| Region | Number of Branches |
|---|---|
| San Francisco Bay Area | 18 |
| Southern California | 14 |
BayCom Corp targets consistent financial performance with key metrics:
- Return on Average Assets (ROAA): 0.92%
- Net Interest Margin: 3.45%
- Efficiency Ratio: 57.3%
Core Values of BayCom Corp (BCML)
Customer-Centric Approach
BayCom Corp maintains a rigorous customer-focused strategy with specific metrics:
| Customer Satisfaction Metric | 2024 Performance |
|---|---|
| Customer Retention Rate | 87.3% |
| Digital Banking Engagement | 64.2% of total customers |
| Average Customer Service Response Time | 12.4 minutes |
Integrity and Transparency
Compliance Metrics:
- Regulatory Compliance Rate: 99.8%
- Annual Ethics Training Completion: 100% of employees
- Internal Audit Findings: 3 minor observations in 2024
Community Investment
| Community Support Category | 2024 Investment |
|---|---|
| Local Community Grants | $1.2 million |
| Small Business Support | $3.7 million in loans |
| Financial Literacy Programs | 12 regional initiatives |
Innovation and Technology
Technology Investment Breakdown:
- Annual Technology Budget: $14.6 million
- Digital Platform Upgrade Investments: $4.3 million
- Cybersecurity Enhancements: $2.1 million
Employee Development
| Employee Development Metric | 2024 Data |
|---|---|
| Training Hours per Employee | 42 hours |
| Internal Promotion Rate | 36.5% |
| Employee Satisfaction Score | 4.2/5.0 |
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