secwatch.observer — SEC 8-K summary
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Issuer:     BayFirst Financial Corp. (BAFN)
CIK:        0001649739
Form:       8-K
Filed at:   2023-07-27T23:59:59+00:00
Accession:  0001649739-23-000209
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1649739/000164973923000209/0001649739-23-000209-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1649739/000164973923000209/bafn-20230727.htm
  HTML page:      https://secwatch.observer/filing/0001649739-23-000209

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