---
schema_version: "secwatch.filing_event.v1"
accession: "0001649739-23-000209"
form_type: "8-K"
ticker: "BAFN"
cik: "0001649739"
company_name: "BayFirst Financial Corp."
filed_at: "2023-07-27T23:59:59+00:00"
generated_at: "2026-06-13T00:35:06.461188+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001649739-23-000209
- form_type: 8-K
- ticker: BAFN
- cik: 0001649739
- company_name: BayFirst Financial Corp.
- filed_at: 2023-07-27T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1649739/000164973923000209/0001649739-23-000209-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1649739/000164973923000209/bafn-20230727.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001649739-23-000209
- JSON: https://secwatch.observer/filing/0001649739-23-000209.json
- Plain text: https://secwatch.observer/filing/0001649739-23-000209.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1649739/000164973923000209/0001649739-23-000209-index.htm

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