BayFirst Q4 net income $1.3M ($0.27 EPS); loan growth 40.6% YoY; $0.08 dividend

BayFirst Financial Corp.

2022-FY EPS reported -$0.22

Q4 2022 net income $1.3M ($0.27 diluted EPS) vs Q3 net loss $1.4M ($0.35 loss); continuing ops net income $2.1M.
Loans held for investment (ex-PPP) rose 40.6% YoY to $709.5M; SBA loan originations $109.4M (+84.6% YoY).
Net interest margin contracted 44 bps QoQ to 4.19% on higher deposit costs; net charge-offs $1.4M (annualized 0.79% of avg loans).
Quarterly cash dividend $0.08 declared (27th consecutive), payable March 15, 2023 to shareholders of record March 1.
Management targeting 1% ROAA in 2023; new branches in Tampa (Q1 2023) and Sarasota (late 2023/early 2024).

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BayFirst Financial Corp. reported the fourth quarter of 2022 results: net income net income of $1.3 million, EPS $0.27 per diluted share.

Period: the fourth quarter of 2022
Net income: net income of $1.3 million
EPS: $0.27 per diluted share
Result: reported results

Exact text from the filing

BayFirst Financial Corp. (NASDAQ: BAFN) (“BayFirst” or the “Company”), parent company of BayFirst National Bank (the “Bank”) today reported net income of $1.3 million, or $0.27 per diluted share, for the fourth quarter of 2022

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BayFirst Financial Corp. filing history →

Source: SEC EDGAR

accession 0001649739-23-000014

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