BAFN
BayFirst Financial Corp.7.90
-0.06-0.75%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
32.66MP/E (TTM)
-Basic EPS (TTM)
-3.01Dividend Yield
0.03%Recent Filings
8-K
8-K
SBA exit amid Q3 loss
BayFirst Financial reported a $18.9 million net loss for Q3 2025, driven by a $7.3 million restructuring charge and $5.1 million discount on selling most of its SBA 7(a) loan portfolio to Banesco USA at 97% of value, with the deal closing later this quarter despite government shutdown delays. This exit derisks the balance sheet, trimming loans held for investment to $998.7 million while deposits rose to $1.17 billion, 84% insured. Leadership shuffled: Tom Quale retires December, succeeded by Samantha Hill; Adam Curtis adds Tampa oversight and CLO duties. The bank eyes 40-70 bps ROA in 2026. Restructuring stings now, but stability beckons.
8-K
Q3 loss amid SBA exit
BayFirst Financial Corp. posted a $18.9 million Q3 2025 net loss, fueled by $12.4 million in one-time charges including a $7.3 million restructuring hit from exiting the SBA 7(a) lending business and selling loans to Banesco USA at a $5.1 million net loss, set to close in Q4 pending approvals. This derisks the balance sheet amid rising provisions of $10.9 million and nonperforming loans at 1.69% excluding guarantees, while deposits grew modestly to $1.17 billion. Exit sharpens focus on core community banking. Capital ratios dipped to 9.71% total.
8-K
BayFirst exits SBA lending
BayFirst Financial Corp. signed a deal on September 25, 2025, to sell $103 million in SBA 7(a) loans to Banesco USA at 97% of unpaid principal plus book value of servicing rights, with closure eyed for Q4. This exits BayFirst's SBA lending operations, transferring most staff to Banesco while retaining some loans under their servicing. The move derisks the balance sheet, boosting focus on core community banking amid volatile SBA markets. Staff transition eases the shift.
10-Q
Q2 FY2025 results
BayFirst Financial's Q2 FY2025 results showed net interest income climbing to $12.3M, up 34% y/y from $9.2M, while net interest margin expanded to 4.1% from 3.4%, driven by higher loan yields amid a 14% y/y increase in average loans to $1.12B. Yet profitability slipped into a $1.2M net loss, or $(0.39) diluted EPS, versus $0.9M income last year, hammered by a $7.3M provision for credit losses—more than double the prior quarter's—after $6.8M net charge-offs, mainly in small business loans. Noninterest income dipped 7% y/y to $10.8M on softer fair value gains, while expenses rose 6% to $17.5M from higher loan collections and occupancy costs. Liquidity holds steady with $77.3M in cash equivalents and $1.16B deposits, plus $115M unused FHLB/FRB lines; total debt sits at $47.7M including new $40M FHLB borrowings. Charge-offs expose small business vulnerabilities in this high-rate squeeze.
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