PNC Financial Reports Strong Q2 2025 Results
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PNC Financial ( (PNC)) has issued an announcement.
On July 16, 2025, PNC Financial Services Group reported strong financial results for the second quarter of 2025, with a net income of $1.6 billion and a 4% revenue growth. The company experienced its strongest loan growth since the fourth quarter of 2022, maintained stable noninterest expenses, and announced a dividend increase, reflecting its continued financial strength. PNC's strategic priorities include expanding its client base and leveraging technology for superior client service, which contributed to record treasury management revenue and increased brokerage assets. The company also reported improved credit quality and maintained its stress capital buffer at the regulatory minimum.
The most recent analyst rating on (PNC) stock is a Buy with a $212.00 price target. To see the full list of analyst forecasts on PNC Financial stock, see the PNC Stock Forecast page.
Spark's Take on PNC Stock
According to Spark, TipRanks' AI Analyst, PNC is a Outperform.
PNC Financial's strong financial performance and strategic focus on capital return are the most significant factors driving the score. The technical analysis suggests caution due to overbought signals, while the valuation remains fair with an attractive dividend yield. The earnings call reinforces confidence in PNC's resilience despite potential market challenges.
To see Spark's full report on PNC stock, click here.
More about PNC Financial
PNC Financial Services Group, Inc. operates in the financial services industry, offering a wide range of financial products and services on a national basis. The company focuses on corporate banking, business credit, treasury management, retail banking, and asset management, leveraging technology to enhance client service and ensure safety and soundness.
Average Trading Volume: 2,267,611
Technical Sentiment Signal: Strong Buy
Current Market Cap: $78.08B
For detailed information about PNC stock, go to TipRanks' Stock Analysis page.
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BayCom Corp ('BayCom' or the 'Company') (NASDAQ: BCML), the holding company for United Business Bank (the 'Bank' or 'UBB'), announced earnings of $6.4 million, or $0.58 per diluted common share, for the second quarter of 2025, compared to earnings of $5.7 million, or $0.51 per diluted common share, for the first quarter of 2025 and $5.6 million, or $0.50 per diluted common share, for the second quarter of 2024. Net income for the second quarter of 2025 increased $662,000, or 11.6%, compared to the first quarter of 2025. This increase was primarily the result of a $439,000 decrease in provision for credit losses, a $280,000 increase in net interest income, a $235,000 decrease in noninterest expense, and a $73,000 increase in noninterest income, partially offset by a $365,000 increase in provision for income taxes. 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Second Quarter Performance Highlights: Annualized net interest margin was 3.77% for the current quarter, compared to 3.83% for the preceding quarter and 3.69% for the same quarter a year ago. Annualized return on average assets was 0.98% for current quarter, compared to 0.89% for the preceding quarter and 0.87% for the same quarter a year ago. Total assets remained steady at $2.6 billion at June 30, 2025, March 31, 2025 and June 30, 2024. Loans, net of deferred fees, totaled $2.0 billion at both June 30, 2025 and March 31, 2025, and $1.9 billion at June 30, 2024. Nonperforming loans totaled $16.4 million or 0.82% of total loans, at June 30, 2025, compared to $10.0 million or 0.51% of total loans, at March 31, 2025, and $16.1 million, or 0.87% of total loans, at June 30, 2024. The allowance for credit losses for loans totaled $18.7 million, or 0.93% of total loans outstanding, at June 30, 2025, compared to $18.5 million, or 0.94% of total loans outstanding, at March 31, 2025, and $19.0 million, or 1.02% of total loans outstanding, at June 30, 2024. A $203,000 provision for credit losses was recorded during the current quarter, compared to a $642,000 provision for credit losses in the prior quarter and a $171,000 provision for credit losses in the same quarter a year ago. Deposits totaled $2.2 billion at June 30, 2025, compared to $2.1 billion at March 31, 2025 and $2.2 billion at June 30, 2024. At June 30, 2025, noninterest-bearing deposits totaled $616.1 million, or 28.2% of total deposits, compared to $589.5 million, or 27.7% of total deposits, at March 31, 2025, and $618.6 million, or 28.4% of total deposits, at June 30, 2024. The Company repurchased 148,450 shares of common stock at an average cost of $25.88 per share during the second quarter of 2025, compared to 50,793 shares of common stock repurchased at an average cost of $25.82 per share during the first quarter of 2025, and 204,794 shares of common stock repurchased at an average cost of $20.17 per share during the second quarter of 2024. On May 21, 2025, the Company announced the declaration of a cash dividend on the Company's common stock of $0.20 per share, which was paid on July 10, 2025 to shareholders of record as of June 12, 2025. The Bank remained a 'well-capitalized' institution for regulatory capital purposes at June 30, 2025. Earnings Net interest income increased $280,000, or 1.2%, to $23.2 million for the second quarter of 2025 from $22.9 million for the prior quarter, and increased $865,000, or 3.9%, from $22.3 million for the same quarter a year ago. The increase from the prior quarter was primarily driven by an increase in interest income on loans, including fees, and to a lesser extent an increase in interest income on fed funds sold and interest-bearing balances in banks. These increases were partially offset by an increase in interest expense on deposits and a decrease in interest income on investment securities. The increase in net interest income compared to the same quarter in 2024 primarily reflects increases in interest income on loans and investment securities. These increases were partially offset by a decrease in interest income on fed funds sold and interest-bearing balances in banks, as well as higher interest expense on deposits. Average interest-earning assets increased $38.6 million, or 1.6%, compared to the first quarter of 2025, and $33.7 million, or 1.4%, compared to the second quarter of 2024. The average yield earned (annualized) on interest earning assets for the second quarter of 2025 was 5.45%, down from 5.46% for the first quarter of 2025 and up from 5.37% for the second quarter of 2024. The decrease from the prior quarter reflects decreased yield on interest-bearing balances in banks. This increase from the second quarter of 2024 reflects the repricing of adjustable-rate loans and securities to higher rates, as well as the origination of new loans at higher rates. The average rate paid (annualized) on interest-bearing liabilities increased to 2.54% for the second quarter of 2025, compared to 2.49% for the prior quarter, and was unchanged from 2.54% for the second quarter of 2024. The increase in liability costs was due to higher cost of premium money market interest-bearing deposits during the second quarter of 2025 as compared to the first quarter of 2025. As interest-bearing liabilities tend to have shorter durations, they generally reprice or reset faster than interest-earning assets. Interest income on loans, including fees, increased $813,000, or 3.0%, to $28.0 million for the three months ended June 30, 2025 from $27.1 million for the prior quarter, due to a $39.5 million increase in the average balance of loans, partially offset by a one basis point decrease in the average loan yield. Interest income on loans, including fees, increased $2.9 million, or 11.8%, for the three months ended June 30, 2025 from $25.0 million for three months ended June 30, 2024, due to a $133.4 million increase in the average balance of loans and a 22 basis point increase in the average loan yield. The average balance of loans was $2.0 billion for the second and first quarters of 2025, compared to $1.9 billion for the second quarter of 2024. The average yield on loans was 5.63% for the second quarter of 2025, compared to 5.64% for the first quarter of 2025 and 5.41% for the second quarter of 2024. Interest income on loans included $110,000 in accretion of the net discount on acquired loans for the three months ended June 30, 2025, compared to $215,000 and $124,000 for the three months ended March 31, 2025 and June 30, 2024, respectively. Accretion of the net discount had minimal to no impact on the average yield on loans during the reported periods. The balance of the net discounts on these acquired loans totaled $319,000, $223,000, and $540,000 at June 30, 2025, March 31, 2025, and June 30, 2024, respectively. Interest income included fees related to prepayment penalties of $109,000 for the three months ended June 30, 2025, compared to $162,000 and $70,000 for the three months ended March 31, 2025 and June 30, 2024, respectively. Interest income on investment securities decreased $47,000, or 2.0%, and was $2.4 million for the three months ended June 30, 2025, compared to $2.5 million for the three months ended March 31, 2025, and increased $225,000, or 10.3%, from $2.2 million for the three months ended June 30, 2024. The average yield on investment securities decreased five basis points to 4.68% for the three months ended June 30, 2025, compared to 4.73% for the three months ended March 31, 2025, and increased 18 basis points from 4.50% for the three months ended June 30, 2024. The decrease in the average yield from the prior quarter was due to paydowns and calls on higher variable-rate securities. The increase in the average yield from the same quarter a year ago was due to higher market interest rates on newly purchased securities and rate resets on variable rate investment securities. 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The average yield on federal funds sold and interest-bearing balances in banks decreased two basis points to 4.45% for the three months ended June 30, 2025, compared to 4.47% for the three months ended March 31, 2025, and decreased 102 basis points from 5.47% for the three months ended June 30, 2024. The decrease in the average yield was due to a lowering of the Federal Reserve rates during 2024. The average balance of federal funds sold and interest-bearing balance in banks totaled $242.8 million for the three months ended June 30, 2025, compared to $240.3 million and $354.3 million for the three months ended March 31, 2025 and June 30, 2024, respectively. Interest expense increased $527,000, or 5.4%, to $10.3 million for the three months ended June 30, 2025, compared to $9.8 million for the three months ended March 31, 2025, and increased $611,000, or 3.1%, compared to $10.1 million for the three months ended June 30, 2024. The increase from the prior quarter reflects higher average balances and funding costs on money market accounts. The increase from the same quarter of 2024 was due to higher deposit rates, reflecting increased market rates and competitive pricing pressures. The average balance of deposits totaled $2.2 billion for the second quarter of 2025, compared to $2.1 billion for both the first quarter of 2025 and the second quarter of 2024. The average cost of interest-bearing liabilities for the second quarter of 2025 was 2.54%, up from to 2.49% for the first quarter of 2025 and unchanged from second quarter of 2024. The increase from the prior quarter was due to higher rates paid on money market deposits. Compared to the same quarter last year, the increase also reflects higher rates on money market and time deposits, competitive pricing pressures, and a shift in deposit mix from noninterest-bearing to higher-costing accounts. The average cost of deposits (including noninterest-bearing deposits) for the three months ended June 30, 2025 was 1.71%, up from 1.66% for the three months ended March 31, 2025 and 1.69% for the three months ended June 30, 2024. The average balance of noninterest-bearing deposits increased $1.2 million, or 0.2%, to $604.9 million for the three months ended June 30, 2025, compared to $603.7 million for the three months ended March 31, 2025 and decreased $15.5 million, or 2.5%, compared to $620.5 million for the three months ended June 30, 2024. Annualized net interest margin was 3.77% for the second quarter of 2025, compared to 3.83% for the first quarter of 2025 and 3.69% for the second quarter of 2024. The average yield on interest-earning assets for the second quarter of 2025 decreased by one basis point from the prior quarter and increased eight basis points from the second quarter of 2024. The average rate paid on interest-bearing liabilities increased five basis points from the first quarter of 2025 and remained unchanged compared to the second quarter of 2024. The decline in net interest margin from the prior quarter reflects higher funding costs, particularly on money market and time deposits, which more than offset the modest decline in asset yields. Compared to the same quarter last year, the increase in net interest margin was primarily driven by higher yields on loans and investment securities, reflecting the ongoing benefit of asset repricing in a higher rate environment. For the second quarter of 2025, the average yield on loans increased to 5.63%, while the average yield on investment securities rose to 4.68%, both contributing to the year-over-year improvement in asset yields. The Company recorded a $203,000 provision for credit losses for the second quarter of 2025, compared to a $642,000 and a $171,000 provision for credit losses for the first quarter of 2025 and the second quarter of 2024, respectively. The decrease in the provision during the current quarter compared to the prior quarter was primarily driven by a decrease in the specific reserves on individually evaluated loans, partially offset by loan growth and an increase in the overall required level of allowance for credit loss reserve. Net charge-offs were $13,000 for the second quarter of 2025, compared to net charge-offs of $102,000 in the prior quarter of 2025 and $76,000 in the second quarter of 2024. Noninterest income for the second quarter of 2025 increased $73,000, or 5.1%, to $1.5 million compared to $1.4 million for the prior quarter of 2025, and increased $30,000, or 2.0%, compared to $1.5 million for the second quarter of 2024. The increase in noninterest income for the current quarter compared to the prior quarter of 2025 was primarily due to a $262,000 decrease in loss on equity securities, reflecting positive fair value adjustments due to improved market conditions, and a $127,000 increase in loan servicing and other fees. These increases were partially offset by a $144,000 decrease in gain on sale of loans, a $118,000 increase in loss on investment in Small Business Investment Company ('SBIC') fund, a $32,000 decrease in service charges and other fees, and a $22,000 decrease in other income and fees. The increase in noninterest income for the current quarter compared to the same quarter of 2024 was primarily due to a $328,000 decrease in loss on equity securities as a result of positive fair value adjustments on these securities due to changes in market conditions, a $179,000 increase in loan servicing and other fees, and a $75,000 increase in service charges and other fees partially offset by a $233,000 decrease in gain on sale of loans, a $298,000 increase in loss on investment in SBIC fund, and a $21,000 decrease in other income and fees. Noninterest expense for the second quarter of 2025 decreased $235,000, or 1.5%, to $15.8 million, compared to $16.0 million for the first quarter of 2025, and decreased $258,000, or 1.6%, compared to $16.0 million for the second quarter of 2024. The decrease from the prior quarter primarily reflected a $207,000 decrease in salaries and employee benefits, as the first quarter included slightly higher incentive expense, and a $135,000 reduction in other expense. The decrease in other expense was due in part to excess funds returned to the Bank from a loss reserve account previously established under the California Capital Access Program (CalCap), which is designed to support small business lending by requiring contributions to a reserve fund that covers potential loan losses. These funds were no longer needed due to strong loan performance and were returned to the Bank. These decreases were partially offset by a $47,000 increase in occupancy and equipment expense and a $60,000 increase in data processing expense. Compared to the second quarter of 2024, the decrease in noninterest expense was primarily due to a $657,000 decrease in other expense due to reduction in legal and professional service costs as well as the return of unused CalCap reserve funds. These decreases were partially offset by a $263,000 increase in data processing expense due to newly implemented services in 2025, an $86,000 increase in salaries and wages, and a $50,000 increase in occupancy and equipment expense. The provision for income taxes increased $365,000, or 18.4%, and was $2.4 million for the second quarter of 2025, as compared to $2.0 million for the first quarter of 2025 and increased $357,000, or 17.9%, from $2.0 million for the second quarter of 2024. The effective tax rate for the second quarter of 2025 was 27.0%, compared to 25.8% for the prior quarter of 2025 and 26.3% for the second quarter of 2024. The effective tax rate increased from the prior quarter of 2025 due to year-end true-ups recorded in the first quarter of 2025, and was lower compared to the second quarter of 2024 due to higher low income housing tax credits. Loans and Credit Quality Loans, net of deferred fees, increased $33.6 million from March 31, 2025, and increased $136.1 million from June 30, 2024, and totaled $2.0 billion at both June 30, 2025 and March 31, 2025, compared to $1.9 billion at June 30, 2024. The increase in loans at June 30, 2025 compared to March 31, 2025 was primarily due to $155.1 million of new loan originations and $13.1 million of loan purchases, partially offset by $134.4 million of loan repayments and $564,000 of loan sales during the current quarter. Nonperforming loans, consisting of non-accrual loans and accruing loans 90 days or more past due, totaled $16.4 million, or 0.82% of total loans, at June 30, 2025, compared to $10.0 million, or 0.51% of total loans, at March 31, 2025, and $16.1 million, or 0.87% of total loans, at June 30, 2024. The increase in nonperforming loans from the prior quarter-end was primarily due to seven new commercial real estate loans totaling $5.2 million being placed on non-accrual during the current quarter and a $2.8 million increase in loans 90 days or most past due, still accruing, and in the process of collection, partially offset by payoffs of four non-accrual loans totaling $1.9 million and one fully charged off nonaccrual loan of $105,000. The seven commercial real estate loans placed on non-accrual are secured by various types of real estate. The portion of nonaccrual loans guaranteed by government agencies totaled $610,000 at June 30, 2025, compared to $618,000 at March 30, 2025 and $2.2 million at June 30, 2024. As of June 30, 2025, there were three loans totaling $2.9 million that were 90 days or more past due, still accruing, and in the process of collection. Of the $2.9 million, $2.8 million are fully guaranteed by government agencies. This compares to one loan totaling $150,000 at March 31, 2025, and no such loans at June 30, 2024. Accruing loans past due between 30 and 89 days at June 30, 2025, totaled $9.2 million, compared to $10.8 million at March 31, 2025 and $1.5 million at June 30, 2024. The $1.6 million decrease in accruing loans past due between 30-89 days at June 30, 2025 as compared to March 31, 2025, was primarily due to one commercial real estate loan for $1.9 million which was 30-89 days past due at March 31, 2025 and was paid off during the current quarter. At June 30, 2025, the Company's allowance for credit losses for loans was $18.7 million, or 0.93% of total loans, compared to $18.5 million, or 0.94% of total loans, at March 31, 2025 and $19.0 million, or 1.02% of total loans, at June 30, 2024. We recorded net charge-offs of $13,000 for the second quarter of 2025, compared to net charge-offs of $102,000 in the prior quarter of 2025 and net charge-offs of $76,000 in the second quarter of 2024. The modest increase in the allowance for loan losses at June 30, 2025, as compared to March 31, 2025, was primarily attributable to an increase of $662,000 in the reserve for pooled loans, partially offset by a $462,000 decrease in specific reserves on individually evaluated loans. During the second quarter of 2025, the increase in the reserve for pooled loans was attributable to an increase in qualitative reserves as a result of changes in the risk level of one qualitative factor, as well as an increase in quantitative reserves tied to forecasted economic conditions. Specifically, the model incorporated a higher forecasted national unemployment rate, partially offset by an improved outlook for national gross domestic product, both of which are key macroeconomic variables used in the Company's credit loss estimation process. As of June 30, 2025, acquired loans net of their discount totaled $141.7 million, with a remaining net discount on these loans of $319,000, compared to $152.4 million of acquired loans with a remaining net discount of $223,000 at March 31, 2025, and $186.3 million of acquired loans with a remaining net discount of $540,000 at June 30, 2024. 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At June 30, 2025, noninterest-bearing deposits totaled $616.1 million, or 28.2% of total deposits, compared to $589.5 million, or 27.7% of total deposits, at March 31, 2025, and $618.6 million, or 28.4% of total deposits, at June 30, 2024. We consider our deposit base to be seasoned, stable and well-diversified, and we do not have any significant industry concentrations among our non-insured deposits. We also offer an insured cash sweep (ICS) product that allows customers to insure deposits above FDIC insurance limits. At June 30, 2025 and March 31, 2025, our average deposit account size (excluding public funds), calculated by dividing period-end deposits by the population of accounts with balances, was approximately $61,000 and $60,000, respectively. The Bank has an approved secured borrowing facility with the FHLB of San Francisco for up to 25% of total assets for a term not to exceed five years under a blanket lien of certain types of loans, with no FHLB advances outstanding at June 30, 2025, March 31, 2025 or June 30, 2024. The Bank has Federal Funds lines with four corresponding banks with an aggregate available commitment on these lines of $65.0 million at June 30, 2025. The Bank has approved discount window advances with the FRB of San Francisco secured by certain loan types. There were no amounts outstanding under these lines or borrowing facilities at June 30, 2025, March 31, 2025 or June 30, 2024. At June 30, 2025 and March 31, 2025, the Company had outstanding junior subordinated deferrable interest debentures, net of fair value adjustments, assumed in connection with its previous acquisitions totaling $8.7 million, compared to $8.6 million at June 30, 2024. At June 30, 2025, the Company had outstanding subordinated debt, net of costs to issue, totaling $63.8 million, compared to $63.8 million and $63.7 million at March 31, 2025 and June 30, 2024, respectively. At June 30, 2025, March 31, 2025 and June 30, 2024, the Company had no other borrowings outstanding. Shareholders' Equity Shareholders' equity totaled $330.6 million at June 30, 2025, compared to $329.3 million at March 31, 2025, and $315.3 million at June 30, 2024. The $1.2 million increase in shareholders' equity from March 31, 2025, was primarily the result of net income of $6.4 million and $789,000 in other comprehensive income, net of taxes, related mainly to changes in the unrealized gain on available-for-sale securities. These increases were partially offset by $3.9 million in common stock repurchases and $2.2 million in accrued cash dividends payable during the quarter. At June 30, 2025, a total of 264,855 shares remained available for repurchase under the Company's current stock repurchase plan. The $15.3 million increase in shareholders' equity from June 30, 2024, was primarily attributable to growth in retained earnings, reflecting higher earnings over the trailing twelve months, as well as a $283,000 improvement in other comprehensive income, net of taxes, and a $764,000 increase in net income for the three months ended June 30, 2025, compared to the same period in the prior year. These increases were partially offset by a $1.1 million increase in cash dividends payable over the comparable periods. 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, Washington, New Mexico, Colorado and Nevada. The Bank is an Equal Housing Lender and a member of FDIC. The Company's common stock is listed on the NASDAQ Global Select Market under the symbol 'BCML'. For more information, go to Forward-Looking Statements This release, as well as other public or shareholder communications 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. There are a number of factors that could cause future results to differ materially from historical performance and these forward-looking statements. Factors which could cause actual results to differ materially from the results anticipated or implied by our forward-looking statements include, but are not limited to: adverse impacts to economic conditions in our local market areas, other markets where the Company has lending relationships, or other aspects of the Company's business operations or financial markets, including, without limitation, as a result of employment levels, labor shortages and the effects of inflation, ongoing or renewed recessionary pressures, political instability or uncertainty, and rising government debt levels; changes in the interest rate environment, including the increases and decreases in the Federal Reserve benchmark rate and the duration at which such interest rate levels are maintained, which could adversely affect our revenues and expenses, the values of our assets and obligations, and the availability and cost of capital and liquidity; the impact of inflation and monetary and fiscal responses thereto, and their impact on consumer and business behavior; fiscal policy disputes or disruptions, including the effects of any federal government shutdown or delays in budget approvals; the impact of bank failures or adverse developments at other banks and related negative press about the banking industry in general on investor and depositor sentiment; review of the Company's accounting, accounting policies and internal control over financial reporting; future acquisitions by the Company of other depository institutions or lines of business; the risks of lending and investing activities, including changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the allowance for credit losses; the Company's ability to access cost-effective funding; fluctuations in real estate values and both residential and commercial real estate market conditions; increased competitive pressures, including repricing and competitors' pricing initiatives, and their impact on our market position, loan, and deposit products; changes in management's business strategies, including expectations regarding key growth initiatives and strategic priorities; vulnerabilities in information systems or third-party service providers, including disruptions, breaches, or attacks; environmental, social and governance goals; legislation or regulatory changes, including but not limited to shifts in capital requirements, banking regulations, tax laws, or consumer protection laws; the ability to adapt to rapid technological changes, including advancements in artificial intelligence, digital banking, and cybersecurity; the potential for new or increased tariffs, trade restrictions or geopolitical tensions that could affect economic activity or specific industry sectors; the effects of climate change, severe weather events, natural disasters, pandemics, epidemics and other public health crises, acts of war or terrorism, domestic political unrest and other external events on our business; and other factors described in the Company's latest Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and other reports filed with or furnished to the Securities and Exchange Commission ('SEC'), which are available on our website at and on the SEC's website at The factors listed above could materially affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. The Company does not undertake - and specifically declines any obligation - to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events, whether as a result of new information, future events or otherwise, except as may be required by law or NASDAQ rules. When considering forward-looking statements, you should keep in mind these risks and uncertainties. You should not place undue reliance on any forward-looking statement, which speaks only as of the date made. Three months ended Six months ended June 30, March 31, June 30, June 30, June 30, 2025 2025 2024 2025 2024 Interest income Loans, including fees $ 27,962 $ 27,149 $ 25,014 $ 55,111 $ 50,271 Investment securities 2,406 2,454 2,181 4,860 4,137 Fed funds sold and interest-bearing balances in banks 2,693 2,649 4,819 5,342 8,934 FHLB dividends 248 249 247 497 519 FRB dividends 144 145 145 289 289 Total interest and dividend income 33,453 32,646 32,406 66,099 64,150 Interest expense Deposits 9,209 8,683 9,002 17,892 17,229 Subordinated debt 892 891 891 1,783 1,784 Junior subordinated debt 192 192 218 384 435 Total interest expense 10,293 9,766 10,111 20,059 19,448 Net interest income 23,160 22,880 22,295 46,040 44,702 Provision for credit losses 203 642 171 845 423 Net interest income after provision for credit losses 22,957 22,238 22,124 45,195 44,279 Noninterest income Gain on sale of loans 54 198 287 252 287 Gain (loss) on equity securities 7 (255 ) (321 ) (248 ) 252 Service charges and other fees 913 945 734 1,858 1,573 Loan servicing fees and other fees 516 389 441 905 833 (Loss) gain on investment in SBIC fund (227 ) (109 ) 71 (336 ) 41 Other income and fees 250 272 271 522 559 Total noninterest income 1,513 1,440 1,483 2,953 3,545 Noninterest expense Salaries and employee benefits 9,728 9,935 9,642 19,663 19,678 Occupancy and equipment 2,183 2,136 2,133 4,319 4,287 Data processing 1,913 1,853 1,650 3,766 3,403 Other expense 1,930 2,065 2,587 3,995 4,715 Total noninterest expense 15,754 15,989 16,012 31,743 32,083 Income before provision for income taxes 8,716 7,689 7,595 16,405 15,741 Provision for income taxes 2,352 1,987 1,995 4,339 4,264 Net income $ 6,364 $ 5,702 $ 5,600 $ 12,066 $ 11,477 Net income per common share: Basic $ 0.58 $ 0.51 $ 0.50 $ 1.09 $ 1.01 Diluted 0.58 0.51 0.50 1.09 1.01 Weighted average shares used to compute net income per common share: Comprehensive income Net income $ 6,364 $ 5,702 $ 5,600 $ 12,066 $ 11,477 Other comprehensive income: Change in unrealized gain on available-for-sale securities 1,105 2,928 710 4,033 1,406 Deferred tax expense (316 ) (833 ) (204 ) (1,149 ) (416 ) Other comprehensive income, net of tax 789 2,095 506 2,884 990 Comprehensive income $ 7,153 $ 7,797 $ 6,106 $ 14,950 $ 12,467 BAYCOM CORP CONSOLIDATED STATEMENTS OF CONDITION (UNAUDITED) (Dollars in thousands) June 30, March 31, June 30, 2025 2025 2024 Assets Cash and due from banks $ 21,764 $ 21,037 $ 23,278 Federal funds sold and interest-bearing balances in banks 269,860 235,512 367,930 Cash and cash equivalents 291,624 256,549 391,208 Time deposits in banks — — 747 Investment securities available-for-sale ("AFS"), at fair value, net of allowance for credit losses of $0 at June 30, 2025, December 31, 2024 and June 30, 2024 184,682 192,400 183,633 Equity securities, at fair value 12,872 12,865 12,837 Federal Home Loan Bank ("FHLB") stock, at par 11,524 11,313 11,313 Federal Reserve Bank ("FRB") stock, at par 9,653 9,648 9,635 Loans held for sale — 276 — Loans, net of deferred fees 2,000,249 1,966,668 1,864,172 Allowance for credit losses for loans (18,700 ) (18,500 ) (19,000 ) Premises and equipment, net 13,686 13,257 14,052 Core deposit intangible 2,187 2,430 3,304 Cash surrender value of bank owned life insurance policies, net 23,968 23,777 23,225 Right-of-use assets 13,084 13,965 12,874 Goodwill 38,838 38,838 38,838 Interest receivable and other assets 38,712 40,312 47,095 Total Assets $ 2,622,379 $ 2,563,798 $ 2,593,933 Liabilities and Shareholders' Equity Noninterest-bearing deposits $ 616,096 $ 589,483 $ 618,617 Interest-bearing deposits Transaction accounts and savings 645,092 656,270 725,550 Premium money market 368,611 357,684 302,738 Time deposits 556,835 525,393 528,105 Total deposits 2,186,634 2,128,830 2,175,010 Junior subordinated deferrable interest debentures, net 8,686 8,665 8,605 Subordinated debt, net 63,821 63,779 63,651 Salary continuation plans 4,860 4,724 4,733 Lease liabilities 14,120 15,016 13,779 Interest payable and other liabilities 13,696 13,447 12,890 Total Liabilities 2,291,817 2,234,461 2,278,668 Shareholders' Equity Common stock, no par value 167,656 171,386 173,395 Accumulated other comprehensive loss, net of tax (10,122 ) (10,911 ) (13,602 ) Retained earnings 173,028 168,862 155,472 Total Shareholders' Equity 330,562 329,337 315,265 Total Liabilities and Shareholders' Equity $ 2,622,379 $ 2,563,798 $ 2,593,933 BAYCOM CORP (Dollars in thousands, except per share data) At and for the three months ended At and for the six months ended June 30, March 31, June 30, June 30, June 30, Selected Financial Ratios and Other Data: 2025 2025 2024 2025 2024 Performance Ratios: Return on average assets (1) 0.98 % 0.89 % 0.87 % 0.93 % 0.90 % Return on average equity (1) 7.69 6.92 7.11 7.29 7.28 Yield earned on average interest-earning assets (1) 5.45 5.46 5.37 5.37 5.31 Rate paid on average interest-bearing liabilities (1) 2.54 2.49 2.54 2.54 2.47 Interest rate spread - average during the period (1) 2.91 2.97 2.83 2.83 2.84 Net interest margin (1) 3.77 3.83 3.69 3.69 3.70 Loan to deposit ratio 91.48 92.38 85.71 91.48 85.71 Efficiency ratio (2) 63.85 65.74 67.34 64.79 66.49 Charge-offs/(Recoveries), net $ 13 $ 102 $ 76 $ 115 $ 3,448 Per Share Data: Shares outstanding at end of period 10,941,232 11,089,682 11,172,323 10,941,232 11,172,323 Average diluted shares outstanding 11,002,967 11,136,058 11,254,233 11,069,145 11,389,992 Diluted earnings per share $ 0.58 $ 0.51 $ 0.50 $ 1.09 $ 1.01 Book value per share 30.21 29.70 28.22 30.21 28.22 Tangible book value per share (3) 26.46 25.98 24.45 26.46 24.45 Asset Quality Data: Nonperforming assets to total assets (4) 0.62 % 0.39 % 0.62 % Nonperforming loans to total loans (5) 0.82 % 0.51 % 0.87 % Allowance for credit losses on loans to nonperforming loans (5) 114.15 % 185.30 % 117.81 % Allowance for credit losses on loans to total loans 0.93 % 0.94 % 1.02 % Classified assets (graded substandard and doubtful) $ 46,825 $ 41,352 $ 38,796 Total accruing loans 30‑89 days past due 9,238 10,751 1,468 Total loans 90 days past due and still accruing 2,911 150 — Capital Ratios: Tier 1 leverage ratio — Bank (6) 14.03 % 13.92 % 13.62 % Common equity tier 1 capital ratio — Bank (6) 17.35 % 17.23 % 17.45 % Tier 1 capital ratio — Bank (6) 17.35 % 17.23 % 17.45 % Total capital ratio — Bank (6) 18.28 % 18.17 % 18.42 % Equity to total assets — end of period 12.61 % 12.85 % 12.15 % Tangible equity to tangible assets — end of period (3) 11.22 % 11.42 % 10.70 % Loans: Real estate $ 1,801,114 $ 1,774,638 $ 1,690,179 Non-real estate 184,719 181,650 157,335 Nonaccrual loans 13,471 9,834 16,128 Mark to fair value at acquisition 319 223 540 Total Loans 1,999,623 1,966,345 1,864,182 Net deferred fees on loans 626 323 (10 ) Loans, net of deferred fees $ 2,000,249 $ 1,966,668 $ 1,864,172 Other Data: Number of full-service offices 34 35 35 Number of full-time equivalent employees 331 320 338 (1) Annualized. (2) Total noninterest expense as a percentage of net interest income and total noninterest income. (3) Represents a non-GAAP financial measure. See 'Non-GAAP Financial Measures' below. (4) Nonperforming assets consist of nonaccrual loans, accruing loans that are 90 days or more past due, and other real estate owned. (5) Nonperforming loans consist of nonaccrual loans and accruing loans that are 90 days or more past due. (6) Regulatory capital ratios are for United Business Bank only. Non-GAAP Financial Measures: In addition to results presented in accordance with generally accepted accounting principles utilized in the United States ('GAAP'), this earnings release contains tangible book value per share and tangible equity to tangible assets, both of which are non-GAAP financial measures. Tangible book value per share is calculated by dividing tangible common shareholders' equity by the number of common shares outstanding at the end of the period. Tangible equity and tangible common shareholders' equity exclude intangible assets from shareholders' equity, and tangible assets exclude intangible assets from total assets. For these financial measures, the Company's intangible assets are goodwill and core deposit intangibles. The Company believes that these measures are consistent with the capital treatment by our bank regulatory agencies, which excludes intangible assets from the calculation of risk-based capital ratios and presents these measures to facilitate comparison of the quality and composition of the Company's capital over time in comparison to its peers. Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied, and are not audited. Further, these non-GAAP financial measures should not be considered in isolation or as a substitute for the comparable financial measures determined in accordance with GAAP and may not be comparable to similarly titled measures reported by other companies. (Dollars in thousands, except per share data) June 30, March 31, June 30, 2025 2025 2024 Tangible Book Value: Total equity and common shareholders' equity (GAAP) $ 330,562 $ 329,337 $ 315,265 less: Goodwill and other intangibles 41,025 41,268 42,142 Tangible equity and common shareholders' equity (Non-GAAP) $ 289,537 $ 288,069 $ 273,123 Total assets (GAAP) $ 2,622,379 $ 2,563,798 $ 2,593,933 less: Goodwill and other intangibles 41,025 41,268 42,142 Total tangible assets (Non-GAAP) $ 2,581,354 $ 2,522,530 $ 2,551,791 Equity to total assets (GAAP) 12.61 % 12.85 % 12.15 % Tangible equity to tangible assets (Non-GAAP) 11.22 % 11.42 % 10.70 % Book value per share (GAAP) $ 30.21 $ 29.70 $ 28.22 Tangible book value per share (Non-GAAP) $ 26.46 $ 25.98 $ 24.45
National Post
25 minutes ago
- National Post
Dream Unlimited Corp. Q2 2025 Financial Results Release Date, Webcast and Conference Call
Article content TORONTO — Dream Unlimited Corp. (TSX: DRM) ('Dream') will be releasing its financial results for the quarter ended June 30, 2025, on Tuesday, August 12, 2025. Article content Senior management will be hosting a conference call to discuss the financial results. Participants may join the conference call by audio or webcast. Article content Article content Conference Call: Article content Date: Wednesday, August 13, 2025 at 10:00 a.m. (ET) Audio: 1-833-752-4596 (toll free) 647-849-3316 (toll) Webcast: A live webcast will also be available in listen-only mode. To access the simultaneous webcast, go to the Calendar of Events on the News and Events page on Dream's website at and click on the link for the webcast. Digital Replay: A taped replay of the call will be available for ninety (90) days. For access details, please click on the Calendar of Events on Dream's website. Article content About Dream Article content Dream has an established and successful asset management business, inclusive of $28 billion of assets under management as at March 31, 2025 across four Toronto Stock Exchange listed trusts, our private asset management business and numerous partnerships. We are a leading developer of exceptional real estate assets across Canada and Europe, including income properties that will be held for the long term as they are completed. We also develop land for sale in Western Canada. Dream has a proven track record for being innovative and for our ability to source, structure and execute on compelling investment opportunities. For more information, please visit our website at Article content Article content Article content Article content Contacts Article content For further information, please contact:
