FIG Partners Advised BayCom Corp In $23.5 Million Acquisition Of Bethlehem Financial Corporation

FIG Has Now Completed 108 M&A Transactions Totaling More Than
$6.4 Billion In Transaction Value

ATLANTA, Aug. 13, 2018 — BayCom Corp (NASDAQ:BCML) has announced an agreement to acquire 100% of the common stock of Bethlehem Financial Corporation for cash consideration of $23.5 million, or $62.00 per share.

Advised BayCom Corp In $23.5 Million AcquisitionUpon closing of the transaction in the fourth quarter of 2018, Bethlehem Financial Corporation’s subsidiary, MyBank, will be merged into BayCom Corp’s subsidiary, United Business Bank. BayCom anticipates this transaction will be accretive to earnings (before merger costs) in the first year of combined operations, and accretive to tangible book value in approximately three years.

As of June 30, 2018, Bethlehem Financial Corporation had approximately $156.6 million in assets, $79.4 million in loans, $136.2 million in deposits and $16.1 million in stockholder’s equity. MyBank serves central New Mexico through five branches operating in Belen, Rio Communities, Los Lunas, Albuquerque, and Mountainair, New Mexico. Upon completion of the transaction, the combined company will have approximately $1.5 billion in total assets, $993.0 million in total loans and $1.3 billion in total deposits. United Business Bank will have 14 locations in California, two in Washington, and six in New Mexico.

George Guarini, President and CEO of United Business Bank, said, “Let me start by welcoming the MyBank staff. At the end of the day, our business is only as good as our people and we are looking forward to having the MyBank team join the United Business Bank family. Ed Robertson and his team built a solid franchise that we believe we can leverage with additional products, capital, and increased lending limits. We look forward to serving MyBank’s clients.”

“From a strategic perspective, this is a great fit,” Guarini added. “As a result, the transaction will provide United Business Bank with a significant presence in central New Mexico, expanding the breadth of our footprint and providing entry into several new markets. We look forward to the prospects of establishing new relationships, enhancing our position in the market and building on an already strong foundation.”

The FIG team included Greg Gersack, Senior Managing Principal and Co-Head of Investment Banking; Patrick Nicolini, Senior Vice President; and Jason Werner, Vice President.

More information is available here.

Since 2003, FIG has been the trusted advisor to community banks and investors. To learn more about FIG’s investment banking services, visit www.figpartners.com.

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