secwatch.observer — SEC 8-K summary
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Issuer:     BayFirst Financial Corp. (BAFN)
CIK:        0001649739
Form:       8-K
Filed at:   2023-10-26T23:59:59+00:00
Accession:  0001649739-23-000287
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1649739/000164973923000287/0001649739-23-000287-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1649739/000164973923000287/bafn-20231026.htm
  HTML page:      https://secwatch.observer/filing/0001649739-23-000287

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