BayCom Corp Announces Major Executive Leadership Transition and Strategic Growth Plan

Key Highlights

• Full Executive Leadership Transition: BayCom Corp’s Board announces a sweeping executive change, appointing three new top executives with experience at large, complex financial institutions to lead its next growth phase.
• New Strategic Direction: The company signals a shift towards larger, transformational growth, including M&A activity, after four years of organic growth focus and acquisition hiatus.
• Board Reconstitution: Co-founders and long-serving executives, including CEO George J. Guarini, are stepping down from the Board. Incoming leadership will also join the Board.
• Strong Foundation for Expansion: BayCom Corp enters this new phase with a clean balance sheet, strong credit quality, and a robust deposit franchise.
• Compensation and Governance: Outgoing executives will receive contractual severance, treated as one-off, non-recurring items.

Executive Leadership Transition

BayCom Corp (NASDAQ: BCML), the holding company for United Business Bank, has announced a significant executive leadership transition. The Board has approved the appointment of William J. Black, Jr. as Executive Vice Chairman, Christopher F. Baron as President and Chief Executive Officer, and Kevin L. Thompson as Chief Financial Officer, effective April 13, 2026.

This incoming executive team brings a proven track record of building and restructuring balance sheets, navigating capital markets, and executing complex, transformational transactions. Their collective experience includes stabilizing institutions during crises, leading multi-billion-dollar M&A deals, and scaling up financial platforms.

Background and Rationale

BayCom Corp has reached a strategic inflection point. Over the past 22 years, the company’s growth was primarily acquisition-driven, completing ten successful mergers. However, in the last four years, the acquisition pipeline was quiet due to unfavorable market conditions and disciplined restraint by the Board. While this preserved a strong, clean balance sheet, it contributed to an organic growth gap and a trading multiple that does not fully reflect the company’s underlying value.

The Board believes that reigniting growth and improving shareholder returns now requires a leadership team with demonstrated success in larger, more complex deals and capital markets activity. The new executives are expected to build on the company’s foundation and position it for larger, more transformational M&A activity.

Detailed Profiles of Incoming Executives

• William J. Black, Jr., Executive Vice Chairman:
  • Over 25 years of experience in strategic, capital allocation, and transformational roles at public and private financial institutions.
  • Former EVP of Strategy and Corporate Development at PacWest Bancorp and Banc of California, where he managed M&A, capital markets, and strategic alternatives.
  • Instrumental during the 2023 banking disruption, securing \$1.4 billion in emergency liquidity and orchestrating the sale of \$7 billion in assets.
  • Principal in PacWest’s sale to Banc of California and led multiple acquisitions, including scaling Civic Financial.
  • Also joins BayCom’s Board and Bank Board effective April 13, 2026.
• Christopher F. Baron, President and CEO:
  • Over 25 years in senior commercial banking, including President of Commercial and Community Banking at Banc of California.
  • Oversaw multi-billion-dollar deposit and loan franchises, with teams across California and Colorado.
  • Launched and expanded tax-exempt lending and affordable housing finance at Pacific Western Bank; previous senior roles at MUFG Union Bank and U.S. Bank.
  • Will also join the Company and Bank Boards.
• Kevin L. Thompson, Executive Vice President and CFO:
  • More than 25 years of CFO experience across public banking and fintech, including Heartland Financial USA, PacWest Bancorp, First Foundation Bank, Opus Bank, and American Express Centurion Bank.
  • Led major restructuring and M&A, including the reverse merger of PacWest with Banc of California during the 2023 banking crisis.
  • Expertise in financial modernization, technology transformation, and large-scale financial transactions.
  • Certified Public Accountant with an MBA in Finance and a B.S. in International Relations from BYU.

Growth Strategy and Market Opportunity

The new leadership team will pursue a three-part strategy:

1. Build a disciplined, relationship-driven growth engine to generate consistent loan and deposit growth, expanding BayCom’s balance sheet and regional presence.
2. Convert balance sheet growth into improved earnings per share and return on equity to enhance franchise value and trading multiple.
3. Pursue larger, transformational combinations (M&A) across the Western U.S. after demonstrating organic growth and earnings improvement.

The Board sees substantial opportunity in select Western markets as industry consolidation creates client and talent displacement.

Board Reconstitution and Outgoing Executives

As part of this transition, founders George J. Guarini (President & CEO), Janet L. King (Sr. Executive Vice President & COO), and Keary L. Colwell (Sr. Executive Vice President & CFO) have resigned from the Board, effective April 10, 2026. However, Mr. Guarini will remain a member of the Bank’s Board to provide continuity given his deep institutional knowledge.

The Board also recognized key continuing executives who will remain critical to success: Terry Curley (EVP, Director of Labor Services & Chief Credit Officer), Felix Miranda (EVP & Chief Lending Officer), and Izabella Mitchell (EVP & Chief Risk Officer).

Transition Process and Continuity

Outgoing executives remain as employees for a 90-day notice period, during which time there will be a hands-on, real-time transfer of operational responsibilities, client and counterparty relationships, and institutional knowledge to the new team. The company does not anticipate any disruption to client service or daily operations during this period.

Compensation, Governance, and Shareholder Impact

Outgoing executives will receive severance and benefits in accordance with their existing contracts. These are one-off, non-recurring items, with no discretionary enhancements. The Board determined that honoring these obligations is in the long-term interests of shareholders. The relevant details are disclosed in the company’s Form 8-K filing.

Potential Price-Sensitive Information:

• The appointment of a new leadership team with a strong M&A and capital markets track record signals a likely return to acquisition-driven growth, which could be value-accretive and affect share price.
• The company’s commitment to larger, transformational deals after years of organic growth and a “clean” balance sheet may attract investor interest and re-rate the stock if executed successfully.
• The orderly transition and continuity planning aim to de-risk any operational or strategic disruption, supporting investor confidence.
• One-time separation costs for outgoing executives will appear in upcoming financials, but are not expected to impact ongoing earnings power.

About BayCom Corp

BayCom Corp, through United Business Bank, provides a full range of loans and deposit services to businesses in California, Washington, New Mexico, Colorado, and Nevada. The Bank is an Equal Housing Lender and FDIC member. BayCom’s common stock trades on the NASDAQ Global Select Market under “BCML.”

Forward-Looking Statements

This article contains forward-looking statements regarding BayCom Corp’s strategic plans, management transition, and anticipated benefits. Actual results may differ due to risks including the successful execution of the transition, retention of key personnel and clients, and achievement of strategic objectives.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should review the company’s official filings and consult their own advisors before making investment decisions. The information is based on public disclosures as of the date indicated and may change without notice.

View BayCom Corp Historical chart here