BayCom announces 560,000 share stock repurchase program

BayCom announced that its board of directors declared a quarterly cash dividend of 10c per share on the company’s outstanding common stock. The cash dividend is payable on July 11 to shareholders of record as of the close of business on June 13. The company also announced that the board approved the company’s ninth stock repurchase program, which authorizes the repurchase of up to 560,000 shares of the company’s common stock, or approximately 5% of currently outstanding shares, over a one-year period, through open market purchases, privately-negotiated transactions, block purchases or otherwise, in accordance with federal securities laws and regulations, including Rule 10b-18 under the Securities Exchange Act of 1934, as applicable. The new stock repurchase program will commence upon completion of the company’s eighth stock repurchase program, which will expire on April 21, 2025, or earlier if all the shares have been repurchased. As of the date hereof, 12,627 shares remain available for future repurchases under the Company’s eighth stock repurchase program.