BayCom Corp’s Capital and Liquidity Remain Strong
14 Março 2023 - 4:00PM
Business Wire
BayCom Corp (NASDAQ:BCML), and its wholly owned subsidiary
United Business Bank (the “Bank”), a Western Regional bank, today
confirmed its capital and liquidity positions remain strong.
The Bank has access to approximately $1.1 billion in liquidity
from numerous sources including its borrowing capacity at Federal
Home Loan Bank. In addition, the Bank is eligible to receive funds
under the new Bank Term Funding Program announced by the Federal
Reserve today.
Founder and President, George Guarini stated, “The cornerstone
of the United Business Bank’s business model is diversification:
diversification of the markets we serve, diversification of the
loan products we offer, diversification in our investment
portfolio, diversification of the client profiles we bank and
diversification of our revenue sources. BayCom employs a community
bank strategy by way of gathering in-market deposits and lending to
local clients and businesses in a conservative manner.”
Guarini continued, “Our total deposits have increased since year
end, and our more recent deposit activities appear to be within the
normal course of business.”
“The Bank's capital remains well above the regulatory threshold
for well-capitalized banks, and its liquidity position remains
strong. The Bank continues to process transactions and loan
fundings to fully serve the needs of our clients,” concluded
Guarini.
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 its affiliates in California,
Washington, New Mexico and Colorado. The Bank is an Equal Housing
Lender and a member of FDIC. The Company is traded on the NASDAQ
under the symbol “BCML”. For more information, go to
www.unitedbusinessbank.com.
Forward-Looking Statements
This release, as well as other public or shareholder
communications released by the Company, may contain forward-looking
statements, including, but not limited to, (i) statements regarding
the financial condition, results of operations and business of the
Company, (ii) statements about the Company’s plans, objectives,
expectations and intentions and other statements that are not
historical facts and (iii) other statements identified by the words
or phrases “will likely result,” “are expected to,” “will
continue,” “is anticipated,” “estimate,” “project,” “intends” or
similar expressions that are intended to identify “forward-looking
statements”, within the meaning of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are not
historical facts but instead are based on current beliefs and
expectations of the Company’s management and are inherently subject
to significant business, economic and competitive uncertainties and
contingencies, many of which are beyond the Company’s control. In
addition, these forward-looking statements are subject to
assumptions with respect to future business strategies and
decisions that are subject to change. Accordingly, management
cautions that any such forward-looking statements are not
guarantees of future performance and are subject to risks,
assumptions, estimates and uncertainties that are difficult to
predict. Although the Company believes that the expectations
reflected in these forward-looking statements are reasonable as of
the date made, actual results may prove to be materially different
from the results expressed or implied by the forward-looking
statements. A number of important factors could cause actual
results to differ materially from those indicated in these
forward-looking statements, including adverse conditions in the
capital and debt markets and the impact of such conditions on the
Company’s business activities; changes in interest rates, higher
inflation and their impact on national and local economic
conditions; changes in monetary and fiscal policies of the U.S.
Treasury, the Board of Governors of the Federal Reserve System and
other governmental entities; the impacts of the COVID-19 pandemic,
such as the severity, magnitude, duration and businesses’ and
governments’ responses thereto, on the Company’s operations and
personnel, and on activity and demand across its businesses, and
other factors identified in "Risk Factors" or "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" in the Company’s Annual Report on Form 10-K and other
periodic filings with the Securities and Exchange Commission. Any
forward-looking statements presented herein are made only as of the
date of this press release, and the Company does not undertake any
obligation to update or revise any forward-looking statements to
reflect changes in assumptions, the occurrence of unanticipated
events, or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230314005985/en/
BayCom Corp George Guarini, 925-476-1800
gguarini@ubb-us.com
Keary Colwell, 925-476-1800
kcolwell@ubb-us.com
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