WALNUT CREEK, Calif.--(BUSINESS WIRE)--On November 19, 2019, the Board of Directors (the “Board”) of BayCom Corp (the “Company”) (NASDAQ:BCML) approved an increase in the size of the Board from eight to nine directors and appointed Syvia L. Magid to fill the vacancy created by such increase. This appointment will be effective as of December 1, 2019. Ms. Magid will serve until the next annual meeting of stockholders. Ms. Magid has also been appointed to the board of directors of United Business Bank (the “Bank”), the Company’s wholly owned banking subsidiary, effective as of December 1, 2019. The Board has appointed Ms. Magid to serve on the Bank’s Asset/Liability Committee.
Ms. Magid is a corporate attorney and has been in private practice for twenty-five years. Ms. Magid has been a Partner with Fox Rothschild LLP (“Fox”), a nation-wide law firm, since January 2014, when her prior firm, MBV Law LLP was acquired by Fox. Ms. Magid provides a variety of legal services including advising clients on mergers, acquisitions and reorganizations, succession planning, corporate governance and other matters, and contract drafting and negotiations. A portion of her practice is devoted to assisting architects, engineers, and other design professionals with their legal needs.
There was no arrangement or understanding pursuant to which Ms. Magid was selected as a director of the Company. There are no family relationships between any of the Company’s directors or officers and Ms. Magid. In addition, there are no related party transactions of the kind described in Item 404(a) of Regulation S-K in which Ms. Magid was a participant or in which Ms. Magid has any direct or indirect material interest.
Ms. Magid is eligible to receive compensation for her service in accordance with the standard compensation arrangements for non-employee directors as described under the heading “Management - Director Compensation” in the Company’s proxy statement filed with the Securities and Exchange Commission on May 9, 2019.
About BayCom Corp
The Company, through its wholly owned operating subsidiary, United Business Bank, offers a full-range of loans, including SBA, FSA and USDA guaranteed loans, and deposit products and services to businesses and its affiliates in California, Washington, New Mexico and Colorado. The Bank also offers business escrow services and facilitates tax free exchanges through its Bankers Exchange Division. The Bank is an Equal Housing Lender and a member of FDIC. The Company is traded on the NASDAQ under the symbol “BCML”. For more information, go to www.unitedbusinessbank.com.