BayCom Corp Announces Appointment of Two New Directors

Rhea-AI Summary

BayCom Corp, parent company of United Business Bank, has expanded its board of directors from nine to 11 members. Effective December 14, 2021, Janet L. King and Keary L. Colwell were appointed to meet California's gender diversity requirements, which mandate at least three female directors and one from an underrepresented community by the end of 2021. Both appointees bring over 35 years of banking experience, enhancing the board's expertise.

Positive

• Increased board size to include more diverse perspectives.
• Experienced new board members with over 35 years in banking.

Negative

• No significant negative aspects identified.

WALNUT CREEK, Calif.--(BUSINESS WIRE)-- BayCom Corp (“Company”), the holding company for United Business Bank (the “Bank”), announced today that it increased the size of the board of directors from nine to 11 members and appointed Janet L. King and Keary L. Colwell, each of whom is currently an executive officer of the Company, to fill the vacancies created by this increase. The appointments are effective as of December 14, 2021. With the appointments of Ms. King and Ms. Colwell, the Company is in compliance with California law which requires the Company, based on the current size of its Board, to have a minimum of three directors that identify as female and minimum of one director from an “underrepresented community” on its Board by the year end December 31, 2021.

Ms. King is the Senior Executive Vice President and Chief Operating Officer of the Company. Ms. King is a member of the executive management team and has over 35 years of banking experience.

Ms. Colwell is the Senior Executive Vice President, Chief Financial Officer and Corporate Secretary of BayCom. Ms. Colwell is a member of the executive management team and has over 35 years in banking and finance experience.

About BayCom Corp

The Company, through its wholly owned operating subsidiary, United Business Bank, offers a full-range of loans, including SBA, FSA and USDA guaranteed loans, and deposit products and services to businesses and its affiliates in California, Washington, New Mexico and Colorado. The Bank is an Equal Housing Lender and a member of FDIC. The Company is traded on the NASDAQ under the symbol “BCML”. For more information, go to www.unitedbusinessbank.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211214006368/en/

BayCom Corp

Keary Colwell, 925-476-1800

kcolwell@ubb-us.com

Source: BayCom Corp

FAQ

What changes did BayCom Corp announce regarding its board of directors?

BayCom Corp has increased its board size from nine to 11 members and appointed Janet L. King and Keary L. Colwell.

Why did BayCom Corp increase its board size?

The increase was made to comply with California law that requires more female and diverse directors.

Who are the newly appointed directors of BayCom Corp?

The new directors are Janet L. King and Keary L. Colwell, both of whom are current executive officers of the company.

What is the background of the new board members at BayCom Corp?

Both Janet L. King and Keary L. Colwell have over 35 years of experience in banking and finance.

When did the new appointments for BayCom Corp's board take effect?

The appointments of Janet L. King and Keary L. Colwell took effect on December 14, 2021.