BayFirst Q3 net income rises 31% sequentially to $1.1M; declares $0.08 dividend

BayFirst Financial Corp.

2024-Q3 EPS reported $0.40

Net income of $1.1M ($0.18 diluted EPS) up 31.3% from Q2 2024; down from $1.9M in Q3 2023.
Net interest margin 3.34%, down 9 bps QoQ; excluding one-time USDA premium it would have been flat.
Government guaranteed loan originations $94.4M, down from $98.7M QoQ and $155.9M YoY.
Deposits increased 6.7% QoQ and 9.3% YoY to $1.11B; loans held for investment $1.04B (+3.4% QoQ).
Board declared $0.08/share quarterly dividend, payable Dec 15, 2024 to holders of record Dec 1.

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