Baycom Corp
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Baycom Corp - overview
Established
2004
Location
Walnut Creek, CA, US
Primary Industry
Financial Services
About
Baycom Corp, through its subsidiary United Business Bank, offers comprehensive banking solutions designed to meet the diverse financial needs of personal and business clients, with a strong focus on supporting labor and business communities. Founded in 2004 and headquartered in Walnut Creek, California, Baycom Corp operates as a financial institution that emphasizes community banking. The bank has undertaken strategic initiatives to enhance its service offerings, though no specific pivots or changes in operations have been noted. Baycom Corp has engaged in 2 deals since its inception, highlighting its growth trajectory and commitment to the banking sector, but has no disclosed subsidiaries or parent companies.
United Business Bank primarily offers a range of banking products tailored to meet the diverse needs of both personal and business clients, focusing on labor and business communities. They provide essential services such as Small Business Administration (SBA) 7(a) and 504 loans to facilitate growth for small businesses. The bank also features online banking services, enabling customers to waive monthly maintenance fees with eStatements enrollment, thereby enhancing customer engagement. Its client base includes small business owners, labor organizations, and individual consumers primarily located in California, with services extending to various metropolitan areas.
United Business Bank's revenue for the most recent year, 2024, reached USD 113. 04 mn. This revenue is generated through banking operations, including interest income from loans and fees from banking services. The bank's operations involve B2B transactions, especially through partnerships with small businesses seeking financial support via SBA loans.
Additionally, account maintenance and transaction service fees contribute to its overall revenue, while its SBA loan offerings enhance customer retention and acquisition. Baycom Corp is focused on expanding its market presence and improving service offerings. Plans for future growth include the introduction of new banking products aimed at better serving its client base. The company is also considering geographic expansion into new metropolitan areas within California to increase its market share by 2025.
Recent funding from previous investors will be utilized to support these initiatives, particularly in enhancing online banking capabilities and expanding the SBA loan program. Additionally, it was noted that Patriot Financial Partners exited its stakes in Baycom Corp, though financial terms were not disclosed.
Primary Industry
Financial Services
Sub Industries
Commercial Banks, Consumer Finance, e-Financial
Website
www.unitedbusinessbank.com
Verticals
FinTech, FinTech
Total Amount Raised
Subscriber access only
Baycom Corp - timeline of key events
Baycom Corp - financials
| Fiscal Year Ended | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 44,300,000 | 55,171,000 | 72,435,000 | 83,306,000 | 77,043,000 | 101,997,000 | - | - | - |
| % Revenue Growth (YoY) | - | 24.5% | 31.3% | 15.0% | (7.5%) | 32.4% | - | - | - |
| EBITDA (USD) | 10,100,000 | 23,036,000 | 27,029,000 | 22,614,000 | 32,835,000 | 41,622,000 | - | - | - |
| Operating Income (USD) | 9,300,000 | 20,489,000 | 23,691,000 | 18,229,000 | 28,480,000 | 37,011,000 | - | - | - |
| Operating Margin | 21.0% | 37.1% | 32.7% | 21.9% | 37.0% | 36.3% | - | - | - |
| % EBITDA Margin | 22.8% | 41.8% | 37.3% | 27.1% | 42.6% | 40.8% | - | - | - |
| NET Income (USD) | 5,300,000 | 14,493,000 | 17,318,000 | 13,726,000 | 20,691,000 | 26,987,000 | - | - | - |
| % Net Margin | 12.0% | 26.3% | 23.9% | 16.5% | 26.9% | 26.5% | - | - | - |
Baycom Corp - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on | Completed | Pacific Enterprise Bancorp | - | ||||||||
| Add-on | Completed | Grand Mountain Bancshares, Inc. | - | ||||||||
| Add-on | Completed | TIG Bancorp | - | ||||||||
| Add-on | Completed | Uniti Financial Corporation | - | ||||||||
| PIPE | Completed | Baycom Corp | - |
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Baycom Corp - employee data
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