BayFirst Q2 net income $1.4M ($0.29 EPS); NIM expands to 4.18%; CFO change

BayFirst Financial Corp.

2023-Q2 EPS reported $0.42

Net income $1.4M vs $0.7M Q1 2023; EPS $0.29 vs $0.13 Q1; revenue from net interest income $10.1M (+11.7% QoQ).
Net interest margin 4.18%, up 1bp QoQ and 45bps YoY; deposit cost increase offset by loan yield growth.
Loans held for investment (ex-PPP) $821M, up 6% QoQ, 34.5% YoY; deposits $944.8M, up 1.3% QoQ, 23.4% YoY.
Credit quality: net charge-offs $2.3M (1.09% annualized) vs $1.9M Q1; NPA ratio 0.61% vs 0.20% Q1; provision $2.8M.
Scott J. McKim appointed EVP & CFO, Rhonda S. Tudor as principal accounting officer; quarterly dividend $0.08 declared.

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 second quarter of 2023 results: net income $1.4 million, EPS $0.29 per diluted common share.

Period: the second quarter of 2023
Net income: $1.4 million
EPS: $0.29 per diluted common share
Result: reported results

Exact text from the filing

ST. PETERSBURG, FL. — July 27, 2023 — BayFirst Financial Corp. (NASDAQ: BAFN) ("BayFirst" or the "Company"), parent company of BayFirst National Bank (the "Bank") today reported net income of $1.4 million, or $0.29 per diluted common share, for the second quarter of 2023 compared to $0.7 million, or $0.13 per diluted common share, in the first quarter of 2023.

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20 earnings releases filed in the last 30 days. Browse all earnings releases →

BayFirst Financial Corp. filing history →

Source: SEC EDGAR

accession 0001649739-23-000209

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