BayCom Corp (NASDAQ: BCML)

BayCom Corp, known by its ticker symbol BCML, is a bank holding company that operates primarily in the commercial banking sector. Headquartered in Walnut Creek, California, the company's wholly-owned banking subsidiary, United Business Bank, offers a wide array of financial services to businesses, business owners, and individuals across California, Nevada, Washington, New Mexico, and Colorado.

United Business Bank's main business activities revolve around providing commercial banking services. These include cash management, commercial and industrial loans, Small Business Administration (SBA) loans, construction and land loans, agriculture-related loans, and consumer loans. The bank's primary products are commercial and multifamily real estate loans, commercial and industrial loans, and consumer loans.

The bank generates revenue through its commercial banking activities, offering a comprehensive suite of financial solutions. Its customer base consists of small and medium-sized businesses, trade unions, and individual consumers. The bank's competitive advantages lie in its ability to provide personalized relationship-based banking services, its focus on small and medium-sized businesses, and its expertise in commercial real estate lending. Key competitors include large national banks and other regional and community banks.

BayCom's loan portfolio is diversified across various sectors, with a significant portion of its loans secured by commercial and multifamily real estate properties. As of December 31, 2023, the bank's loan portfolio consisted of $1.9 billion in loans, with $1.7 billion secured by real estate properties. The bank's loan portfolio is concentrated in Northern California, including the San Francisco Bay Area, and Southern California, with a smaller presence in Colorado, Nevada, and Washington.

The bank's commercial real estate loan portfolio is diversified across various sectors, with a significant portion of its loans secured by commercial and multifamily real estate properties. The bank offers commercial real estate loans under the SBA 504 loan program, which provides long-term, low-down-payment loans to businesses. It also offers commercial real estate loans under the SBA 7(a) loan program, which provides working capital or funds for the purchase of businesses, real estate, or machinery and equipment.

The bank makes loans to finance the construction of residential and non-residential properties, including commercial projects, multifamily housing, industrial, office, and retail centers. These loans are typically collateralized by a lien on general business assets, including real estate, accounts receivable, inventory, and equipment. The bank also makes agricultural operating loans, including loans to finance the purchase of machinery, equipment, and breeding stock, seasonal crop operating loans, and operating and revolving loans used to purchase livestock for resale and related livestock production expenses.

The bank's consumer loans are made as an accommodation to its clients on a case-by-case basis, including both secured and unsecured term loans. These loans cater to personal and household purposes and are underwritten based on the individual borrower's income, current debt level, past credit history, and the value of any available collateral.

The bank's lending and investing activities are primarily funded by deposits, which are solicited from individuals, small to medium-sized businesses, trade unions, and government authorities. The bank offers a variety of deposit accounts with a wide range of interest rates and terms, including demand, savings, money market, and time deposits.