Research Reports

Key takeaways

Board terminated CEO Guarini, COO King, and CFO Colwell without cause, effective April 10, 2026, with severance payments totaling $4.4M, $2.4M, and equivalent to COO's respectively.

Guarini to receive $4,404,174 cash severance over 24 months, 24 months health benefits, and immediate vesting of 22,109 restricted shares.

New CEO Baron, Executive Vice Chair Black appointed with $675,000 base salary each, 75% target bonus, and 2x severance without cause.

New CFO Thompson appointed with $450,000 base salary, 60% target bonus, at-will employment, and 1x CIC severance.

Guarini, King, Colwell resigned from Company Board effective April 10; Baron and Black appointed to Board until June 16, 2026 Annual Meeting.

Press release announces three-part growth strategy focused on organic growth, earnings improvement, and transformational M&A in Western Region.

Full analysis

BayCom Corp's Board executed a comprehensive senior management transition on April 7, 2026, terminating without cause its founding CEO George J. Guarini (22-year tenure), COO Janet L. King, and CFO Keary L. Colwell, all effective April 10, 2026, following 90-day notice periods during which they provide transition services as non-executive employees until July 6, 2026. Severance packages are substantial, reflecting long service: Guarini's $4.4 million over 24 months plus accelerated equity vesting underscores the cost of change, treated as non-recurring. New leadership—Christopher F. Baron (CEO), William J. Black, Jr. (Executive Vice Chair), and Kevin L. Thompson (CFO)—starts April 13, 2026, bringing crisis-tested experience from PacWest/Banc of California and other large banks, with prior collaboration. Compensation is competitive: $675k base for CEO/EVC (75% bonus target), $450k for CFO (60% target), with robust severance protections. Board changes align with appointments, filling vacancies until June 2026 shareholder meeting; Guarini retains Bank board seat for continuity. Press release (Ex 99.1) frames shift as strategic for organic growth, earnings acceleration, and Western regional M&A, addressing prior acquisition lull and trading discount. No related-party issues or family ties disclosed, signaling clean governance.

BCML · BayCom Corp

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