---
schema_version: "secwatch.filing_event.v1"
accession: "0001649739-22-000323"
form_type: "8-K"
ticker: "BAFN"
cik: "0001649739"
company_name: "BayFirst Financial Corp."
filed_at: "2022-10-28T23:59:59+00:00"
generated_at: "2026-06-22T22:44:44.984153+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# BayFirst Q3 net loss $1.4M on mortgage exit; continuing ops income $3.1M, record SBA production

## Summary
- Net loss of $1.4M ($0.35 diluted loss) includes $3.7M charge to discontinue residential mortgage division.
- Net income from continuing operations was $3.1M, up significantly from $391K in Q2 2022.
- SBA 7(a) loan production record $139.2M, up 194.6% YoY; community banking loan production up 172% YoY.
- Net interest margin expanded 90 bps QoQ to 4.63%.
- Quarterly dividend of $0.08/share declared, payable Dec 15, 2022 (26th consecutive quarterly dividend).

## SEC filing metadata
- accession: 0001649739-22-000323
- form_type: 8-K
- ticker: BAFN
- cik: 0001649739
- company_name: BayFirst Financial Corp.
- filed_at: 2022-10-28T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1649739/000164973922000323/0001649739-22-000323-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1649739/000164973922000323/bafn-20221025.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001649739-22-000323
- JSON: https://secwatch.observer/filing/0001649739-22-000323.json
- Plain text: https://secwatch.observer/filing/0001649739-22-000323.txt

## Key facts
- Earnings Releases
  BayFirst Financial Corp. reported third quarter of 2022 results: net income $1.4 million, EPS $0.35 per diluted share.
  - Period: third quarter of 2022
  - Net income: $1.4 million
  - EPS: $0.35 per diluted share
  - Result: reported results
  source text: BayFirst Financial Corp. (NASDAQ: BAFN) (“BayFirst” or the “Company”), parent company of BayFirst National Bank (the “Bank”) today reported net income from continuing operations of $3.1 million for the third quarter of 2022 compared to $391 thousand in the second quarter of 2022. Following the strategic decision to discontinue the Bank’s nationwide residential mortgage operations, BayFirst recognized a one-time charge of $3.7 million in the third quarter of 2022. Net loss inclusive of discontinued operations was $1.4 million, or $0.35 per diluted share, for the third quarter of 2022, compared to a net loss of $282 thousand, or $0.10 per diluted share, in the second quarter of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1649739/000164973922000323/0001649739-22-000323-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.