---
schema_version: "secwatch.filing_event.v1"
accession: "0001649739-23-000135"
form_type: "8-K"
ticker: "BAFN"
cik: "0001649739"
company_name: "BayFirst Financial Corp."
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T09:03:46.860444+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001649739-23-000135
- form_type: 8-K
- ticker: BAFN
- cik: 0001649739
- company_name: BayFirst Financial Corp.
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1649739/000164973923000135/0001649739-23-000135-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1649739/000164973923000135/bafn-20230427.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001649739-23-000135
- JSON: https://secwatch.observer/filing/0001649739-23-000135.json
- Plain text: https://secwatch.observer/filing/0001649739-23-000135.txt

## Key facts
- Earnings Releases
  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
  source text: On April 27, 2023, BayFirst Financial Corp. issued a press release announcing its financial results for the first quarter of 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1649739/000164973923000135/0001649739-23-000135-index.htm

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