BayFirst Q4 net income $1.7M, EPS $0.32; NIM expands 12bps to 3.48%

BayFirst Financial Corp.

2023-FY EPS reported $1.12

Net income $1.7M ($0.32 diluted EPS) vs $1.9M ($0.41) in Q3; net interest margin 3.48% (+12 bps).
CreditBench originated $144.9M in government guaranteed loans; $102.3M from Bolt small loan program.
Loans held for investment (ex-PPP) up $49.3M to $912.5M; deposits down $32.7M to $985.1M.
Board declared $0.08/share dividend payable March 15, 2024; 31st consecutive quarterly dividend.
Preferred stock offering raised $6.45M gross proceeds; Tier 1 leverage ratio 9.38%.

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 fourth quarter of 2023 results: net income $1.7 million, EPS $0.32 per diluted common share.

Period: the fourth quarter of 2023
Net income: $1.7 million
EPS: $0.32 per diluted common share
Result: reported results

Exact text from the filing

BayFirst Financial Corp. (NASDAQ: BAFN) (“BayFirst” or the “Company”), parent company of BayFirst National Bank (the “Bank”) today reported net income of $1.7 million, or $0.32 per diluted common share, for the fourth quarter of 2023 compared to $1.9 million, or $0.41 per diluted common share, in the third quarter of 2023.

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BayFirst Financial Corp. filing history →

Source: SEC EDGAR

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