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Our common stock, since May 4, 2018, is listed on the NASDAQ Global Select Market under the symbol “BCML”.
−Removed: At March 23, 2022, we had approximately 853 shareholders of record (not including the number of persons or entities holding stock in nominee or street name through various brokerage firms) and 13,695,751 outstanding shares of common stock.
−Removed: Our cash dividend payout policy is reviewed regularly by management and the Board of Directors.
−Removed: On February 16, 2022 the Company announced that its Board of Directors declared it first quarterly cash dividend of $.05 per share on the Company's outstanding common stock, payable on April 15, 2022 to shareholders of record as of the close of business on March 11, 2022.
+Added: At March 24, 2023, we had approximately 804 shareholders of record (not including the number of persons or entities holding stock in nominee or street name through various brokerage firms).
+Added: On February 23, 2023 the Company announced that its Board of Directors declared a quarterly cash dividend of $.10 per share on the Company's outstanding common stock, which represents an increase of 100% over the $0.05 per share quarterly dividend declared on November 16, 2022.
+Added: The cash dividend will be payable on April 14, 2023 to shareholders of record as of the close of business on March 10, 2023.
+Added: BayCom commenced paying dividends in 2022, during which time its Board of Directors declared four quarterly cash dividends of $0.05 per share.
+Added: The Company’s cash dividend payout policy is reviewed regularly by management and the Board of Directors.
Any dividends declared and paid in the future would depend upon a number of factors, including capital requirements, our financial condition and results of operations, tax considerations, statutory and regulatory limitations, and general economic conditions.
+Added: Management’s current projections indicate an expectation that the regular quarterly cash dividends will continue for the foreseeable future.
No assurances can be given that any dividends will be paid or that, if paid, will not be reduced or eliminated in future periods.
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Stock Repurchases.
−Removed: The Company’s Board of Directors approved its fifth stock repurchase program in December 2021 pursuant to which the Company may repurchase up to seven percent of the Company’s common stock, or approximately 747,000 shares (in addition to the 657 shares that remained available for repurchase under the Company’s prior stock repurchase program at that date) .
−Removed: The repurchase program may be suspended, terminated or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate.
−Removed: The repurchase program does not obligate the Company to purchase any particular number of shares.
The following table sets forth information with respect to our repurchases of our outstanding common shares during the three months ended December 31, 2022:
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December 1, 2022 - December 31, 2022
+Added: On October 24, 2022, the Company announced that its Board of Directors approved a sixth stock repurchase program, which commenced in December 2022 following the expiration of the fifth stock repurchase program, pursuant to which the Company is authorized to repurchase up to five percent of the BayCom’s common stock, or approximately 645,000 shares .
+Added: The existing stock repurchase program will expire on October 24, 2023, unless sooner completed.
+Added: The repurchase program may be suspended, terminated or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate.
+Added: The repurchase program does not obligate the Company to purchase any particular number of shares.
During the year ended December 31, 2022, the Company purchased a total of 905,740 shares of the Company’s common stock at an average price of $19.83 per share, compared to 648,734 shares at an average price of $17.81 per share during the year ended December 31, 2021.
−Removed: At December 31, 2021, 742,532 shares remain available for future purchases under the current stock repurchase plan.
−Removed: On February 22, 2021, the Company’s board of directors approved its fourth stock repurchase program for the repurchase of up to 560,000 shares of its common stock, or approximately 5% of its outstanding shares, over a one-year period through open market purchases, privately-negotiated transactions, or otherwise in compliance with Rule 10b-18 under the Securities Exchange Act of 1934 .
−Removed: No shares remained available for repurchase under this program at December 31, 2021.
Equity Compensation Plan Information.
−Removed: The equity compensation plan information presented under subparagraph (d) in Part III, Item 11 of this report is incorporated herein by reference.
+Added: The equity compensation plan information presented under subparagraph (d) in Part III, Item 11 of this Form 10-K is incorporated herein by reference.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.