secwatch.observer — SEC 8-K summary
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Issuer:     BayFirst Financial Corp. (BAFN)
CIK:        0001649739
Form:       8-K
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0001649739-23-000135
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1649739/000164973923000135/0001649739-23-000135-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1649739/000164973923000135/bafn-20230427.htm
  HTML page:      https://secwatch.observer/filing/0001649739-23-000135

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