Business Context and Reporting Period
Baycom Corp (Nasdaq: BMCL), the parent company of United Business Bank, filed this Form 8-K on November 30, 2018. The report details the completion of a previously announced acquisition of Bethlehem Financial Corporation ("BFC") and its subsidiary, My Bank.
Key Financial Metrics
This filing reports a specific transaction value rather than ongoing operational metrics.
- Acquisition Consideration: $23.5 million in cash.
- Price Per Share: $62.00 per share for 100% of BFC's outstanding shares.
- Revenue, Profit, Cash Flow, Debt, Liquidity: The filing text does not provide a clear value for these operational metrics.
Material Changes
Effective November 30, 2018, Baycom Corp completed the merger of BFC with and into Baycom Corp, followed by the merger of My Bank with and into United Business Bank. This transaction resulted in Baycom Corp acquiring 100% ownership of BFC.
Guidance, Outlook, and Risks
The filing incorporates a press release (Exhibit 99.1) by reference but does not contain specific management commentary, future guidance, risk factors, or contingencies within the text provided. No unusual items were disclosed in this specific report section.
Investor Verification Checklist
- Verify the final closing date of the merger (November 30, 2018).
- Confirm the total cash consideration paid ($23.5 million) and per-share price ($62.00).
- Review the attached press release (Exhibit 99.1) for details on the strategic rationale and integration plans.
- Check subsequent filings for the impact of this acquisition on Baycom Corp's consolidated balance sheet and liquidity.