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Press Release Exhibit 99.1 BayCom Corp Reports 2021 Second Quarter Earnings of $ 5.3 Million WALNUT CREEK , CA , July 22 , 2021 -- ( Business Wire ) BayCom Corp ( “ BayCom ” or the “ Company ” ) ( NASDAQ : BCML ) , the holding company for United Business Bank ( the " Bank ” ) , announced earnings of $ 5.3 million , or $ 0.49 per diluted share , for the second quarter of 2021 , compared to earnings of $ 4.5 million , or $ 0.40 per diluted share , for the first quarter of 2021 and $ 3.1 million , or $ 0.26 per diluted share , for the second quarter of 2020. Net income for the second quarter of 2021 compared to the prior quarter increased $ 776,000 , 17.1 % , primarily as a result of a $ 507,000 reversal of provision for loan losses , a $ 216,000 increase in noninterest income and a $ 676,000 decrease in noninterest expense , partially offset by a $ 302,000 decrease in net interest income and a $ 321,000 increase in the income tax provision . The Company had net income of $ 9.8 million , or $ 0.89 per diluted common share , for the six months ended June 30 , 2021 , compared to $ 5.9 million , or $ 0.49 per diluted common share , for the six months ended June 30 , 2020. Net income for the six months ended June 30 , 2021 compared to the same period in 2020 increased $ 3.9 million as a result of a decrease in provision for loan losses of $ 6.6 million , an $ 810,000 increase in noninterest income and a $ 2.9 million decrease in noninterest expense , partially offset by a $ 5.0 million decrease in net interest income and a $ 1.4 million increase in provision for income taxes . A reversal of the provision for loan losses of $ 507,000 was recorded during the first six months of 2021 following continued improvements in the economic forecast at June 30 , 2021 as compared to a provision for loan losses of $ 6.1 million during the same period last year when the COVID - 19 pandemic started to significantly impact economic conditions . Noninterest expense during the six months ended June 30 , 2021 did not include any acquisition- related expenses compared to the same period last year which included $ 3.0 million of acquisition - related expenses for the acquisition of Grand Mountain Bancshares ( " GMB " ) and its wholly owned subsidiary Grand Mountain Bank . George Guarini , President and Chief Executive Officer , commented , “ During the second quarter of 2021 , our financial results were encouraging despite the continued low interest rate environment . We continued to benefit by our participation in funding PPP loans in support of our clients . Substantially all of our clients requiring loan modifications have resumed their normal payments reflecting continued economic improvement in our market areas , which allowed us to record a $ 507,000 reversal of the provision for loan losses . " Guarini concluded , “ I am also pleased to report that our loan pipeline is strong , demonstrating a return to more normalized banking activities . On the acquisition front , conversations are accelerating as we strive to build on our track record of prudent acquisitions . " BayCom's Response to COVID - 19 Loan Programs . During the second quarter of 2021 , the Bank continued its participation in the initial Small Business Administration ( " SBA " ) Paycheck Protection Program ( “ PPP ” ) which ended August 8 , 2020 , by processing applications for PPP loan forgiveness . As of June 30 , 2021 , the Bank has received SBA forgiveness for 901 PPP loans totaling $ 106.5 million out of the $ 140.2 million in PPP loans funded during the first PPP program . During the second quarter of 2021 , the Bank continued to accept and process loan applications under the second PPP program enacted in December 2020. As of June 30 , 2021 , the Bank has funded 771 PPP loans totaling $ 98.2 million under the second PPP program , which concluded May 31 , 2021. As of June 30 , 2021 , there was a total of 1,229 PPP loans outstanding totaling $ 150.4 million . Loan Modifications and the Allowance for Loan Losses . The Bank continued to offer payment and financial relief programs for borrowers impacted by COVID - 19 under the Coronavirus Aid , Relief and Economic Security Act and related regulatory guidance . As of June 30 , 2021 , one loan totaling $ 3.9 million was subject to a payment forbearance agreement compared to 26 loans totaling $ 32.0 million at March 31 , 2021. In accordance with regulatory guidelines related to COVID - 19 , these modifications are not considered troubled debt restructurings through the earlier of January 1 , 2022 , or 60 days after the national emergency terminates . Based on our review of the appropriateness of the allowance for loan losses at June 30 , 2021 , the Company recorded a $ 507,000 reversal of provision for loan losses for the second quarter of 2021 , compared to no provision in the preceding quarter and a $ 4.4 million provision for loan losses in the second quarter a year ago . The reversal of the provision for loan