California bank BayCom files for a $58 million IPO

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BayCom, a California bank with 17 full-service branches and $1.2 billion in assets, filed on Wednesday with the SEC to raise up to $58 million in an initial public offering.

The company was formed as Bay Commercial Bank in 2004. It changed its name to United Business Bank in April 2017 following the acquisition of a bank with the same name, which had nine full-service locations and $473 million in assets.

The Walnut Creek, CA-based company was founded in 2004 and booked $45 million in revenue for the 12 months ended December 31, 2017. It plans to list on the Nasdaq under the symbol BCML. BayCom filed confidentially on February 26, 2018. FIG Partners and D.A. Davidson are the joint bookrunners on the deal. No pricing terms were disclosed.

The article California bank BayCom files for a $58 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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