BayCom Corp Announces Completion of Acquisition of Pacific Enterprise Bancorp

Feb 02, 2022

BayCom Corp (NASDAQ: BCML) (“BayCom” or the “Company”), the parent company of United Business Bank, announced today that effective February 1, 2022, it completed its previously announced acquisition of Pacific Enterprise Bancorp (“PEB”), headquartered in Irvine, California and the merger of Pacific Enterprise Bank, the bank subsidiary of PEB, into United Business Bank. Under the terms of the merger agreement, for each share of PEB common stock, each PEB shareholder will receive 1.0292 shares of BayCom’s common stock with cash to be paid in lieu of any fractional shares. PEB shareholders holding shares in street name will automatically receive shares of BayCom common stock within their accounts. PEB shareholders who hold their shares in certificated form will be mailed a letter of transmittal shortly containing instructions on how to exchange their PEB shares for BayCom shares.

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