Baycom Corp CEO Christopher Baron purchased $250,717 of company stock, a transaction disclosed in a Form 4 filing reported by Investing.com on August 11. The purchase arrives weeks after the bank disclosed a second-quarter net loss of $6.96 million and a sharp rise in credit-loss provisions tied to commercial real estate.
Baycom, the holding company for United Business Bank, reported total consolidated revenue of $33.7 million for the quarter ended June 30, down 3.5% from $35.0 million a year earlier. Diluted loss per share was $(0.64) versus earnings of $0.58 in the year-ago quarter. The loss was driven by a $5.24 million provision for credit losses — up from $0.20 million in Q2 2025 — and $2.80 million of net charge-offs, primarily in commercial real estate.
Noninterest expense surged to $27.16 million from $15.75 million, largely because of $21.05 million in salaries and employee benefits. The bank said the increase reflected significant one-time severance and equity costs tied to the departures of three senior executives. In April, Baycom replaced its CEO, COO, and CFO with former PacWest Bancorp executives: William Black as Executive Vice Chairman, Christopher Baron as President and CEO, and Kevin Thompson as CFO.