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Press Release Exhibit 99.1 BayCom Corp Reports 2021 First Quarter Earnings of $ 4.5 Million WALNUT CREEK , CA , April 22 , 2021 -- ( Business Wire ) BayCom Corp ( " BayCom " or the " Company " ) ( NASDAQ : BCML ) , the holding company for United Business Bank ( the " Bank ” ) , announced earnings of $ 4.5 million , or $ 0.40 per diluted share , for the first quarter of 2021 , compared to earnings of $ 4.5 million , or $ 0.39 per diluted share , for the fourth quarter of 2020 and $ 2.8 million , or $ 0.23 per diluted share , for the first quarter of 2020. Net income for the first quarter of 2021 compared to the prior quarter was unchanged at $ 4.5 million , primarily as a result of a $ 1.9 million decrease in provision for loans losses , which was offset by a $ 831,000 decrease in noninterest income , a $ 702,000 increase in the income tax provision and a $ 217,000 decrease in net interest income . Net income for the first quarter of 2021 compared to the same period in 2020 increased $ 1.7 million as a result of a $ 2.8 million decrease in noninterest expenses and a $ 1.7 million decrease in provision for loans losses , partially offset by a $ 2.0 million decrease in net interest income , an increase of $ 538,000 in the provision for income taxes and a $ 342,000 decrease in noninterest income . The decrease in noninterest expenses was related to transaction costs for the acquisition of Grand Mountain Bancshares ( " GMB " ) and its wholly owned subsidiary Grand Mountain Bank in the first quarter 2020 and the overall effort to manage costs in the current environment . No provision for loans losses was recorded during the first quarter of 2021 , compared to a provision for loan losses of $ 1.7 million during the same period last year , when the COVID- 19 pandemic started to significantly impact economic conditions . The impact of acquisition - related expenses was none for the quarter ended March 31 , 2021 , compared to $ 3.0 million , or $ 0.18 per diluted share , for both the fourth and first quarters of 2020 . George Guarini , President and Chief Executive Officer , commented , " During the first quarter of 2021 , we continued to assist our clients and others in our communities through the second round of the Paycheck Protection Program and provided COVID - 19 related loan modifications as needed . Although our asset quality metrics have remained steady , we will continue to proactively monitor modified loans and other loans we consider at heightened risk . ” Guarini continued , " Our results are encouraging despite the low interest rate environment and the difficulties we all face due to COVID - 19 . No provision for loan losses was recorded this quarter as we believe the level of our allowance for loan losses is adequate considering the current economic environment . Our capital position remained strong through these challenging times and we have continued our stock repurchases this quarter as part of our capital management strategy to create long - term value for our shareholders through the prudent deployment of capital . " Guarini concluded , “ Most importantly , I would like to thank our employees who have demonstrated their resilience and commitment to our communities by continuing to provide vital banking services and assistance despite the daily challenges caused by the pandemic . " BayCom's Response to COVID - 19 Loan Programs . During the first quarter of 2021 , the Bank continued its participation in the initial SBA Paycheck Protection Program ( “ PPP ” ) by processing applications for PPP loan forgiveness . As of March 31 , 2021 , the Bank has received SBA forgiveness for 384 PPP loans totaling $ 29.8 million out of the $ 140.2 million in PPP loans funded during the first PPP program . During the first quarter of 2021 , the Bank began accepting and processing loan applications under the second PPP program enacted in December 2020. As of March 31 , 2021 , the Bank has funded 370 PPP loans totaling $ 48.3 million under the second PPP program . As of March 31 , 2021 , there was a total of 1,345 PPP loans outstanding totaling $ 158.7 million .