BayFirst Q1 net income falls to $739K ($0.13 EPS) on $1.6M Signature Bank loan-sale loss

BayFirst Financial Corp.

2023-Q1 EPS reported $0.13

Net income $739K ($0.13 diluted) vs Q4'22 $1.3M ($0.28); continuing ops net income $867K.
Signature Bank receivership cancelled $60M SBA loan sale; FDIC claim submitted for $1.6M premium loss.
Deposits grew $137.8M (+17.3%) to $932.9M; noninterest-bearing deposits up 14% in Q1.
Net interest margin 4.17% (down 2 bps QoQ); net interest income $9.1M (+5.6% QoQ).
Declared $0.08 quarterly dividend (payable June 15, record June 1); 28th consecutive dividend.

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 0.95

BayFirst Financial Corp. reported first quarter of 2023 results: net income $739 thousand, EPS $0.13 per diluted share.

Period: first quarter of 2023
Net income: $739 thousand
EPS: $0.13 per diluted share
Result: reported results

Exact text from the filing

On April 27, 2023, BayFirst Financial Corp. issued a press release announcing its financial results for the first quarter of 2023.

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BayFirst Financial Corp. filing history →

Source: SEC EDGAR

accession 0001649739-23-000135

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