---
schema_version: "secwatch.filing_event.v1"
accession: "0001649739-23-000287"
form_type: "8-K"
ticker: "BAFN"
cik: "0001649739"
company_name: "BayFirst Financial Corp."
filed_at: "2023-10-26T23:59:59+00:00"
generated_at: "2026-06-09T08:37:07.335540+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# BayFirst Q3 net income $1.9M ($0.41 EPS); deposits and loans grow, NIM compresses

## Summary
- Net income $1.9M ($0.41 diluted EPS) vs $1.4M ($0.29) in Q2 2023; net income from continuing ops $2.0M.
- Net interest margin compressed 82 bps to 3.36% due to higher deposit costs; Q2 included 30 bps one-time benefit.
- CreditBench originated $155.9M in government guaranteed loans (+25% QoQ); BOLT loans $84.9M.
- Deposits grew $73M to $1.02B (+7.7% QoQ); loans held for investment ex-PPP up $42.2M to $863.2M (+5.1%).
- Declared $0.08 per share quarterly dividend (30th consecutive); completed $3.83M preferred stock offering.

## SEC filing metadata
- accession: 0001649739-23-000287
- form_type: 8-K
- ticker: BAFN
- cik: 0001649739
- company_name: BayFirst Financial Corp.
- filed_at: 2023-10-26T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1649739/000164973923000287/0001649739-23-000287-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1649739/000164973923000287/bafn-20231026.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001649739-23-000287
- JSON: https://secwatch.observer/filing/0001649739-23-000287.json
- Plain text: https://secwatch.observer/filing/0001649739-23-000287.txt

## Key facts
- Earnings Releases
  BayFirst Financial Corp. reported third quarter of 2023 results: net income $1.9 million, EPS $0.41 per diluted common share.
  - Period: third quarter of 2023
  - Net income: $1.9 million
  - EPS: $0.41 per diluted common share
  - Result: reported results
  source text: BayFirst Financial Corp. (NASDAQ: BAFN) (“BayFirst” or the “Company”), parent company of BayFirst National Bank (the “Bank”) today reported net income of $1.9 million, or $0.41 per diluted common share, for the third quarter of 2023 compared to $1.4 million, or $0.29 per diluted common share, in the second quarter of 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1649739/000164973923000287/0001649739-23-000287-index.htm

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