BayFirst Financial Q1 net loss $0.17 EPS; credit quality deteriorates as NPAs rise to 2.08% of assets

BayFirst Financial Corp.

2025-Q1 EPS reported -$0.17

Net loss of $0.3M ($0.17 per share) vs net income of $9.8M in Q4 2024, driven by elevated provision and charge-offs.
Net interest margin expanded 17 bps sequentially to 3.77%; community bank loans grew 4% during the quarter.
Nonperforming assets increased to 2.08% of total assets (1.22% excl. gov't guaranteed) from 1.50% at YE 2024.
Provision for credit losses $4.4M, net charge-offs $3.3M; Tier 1 leverage ratio fell to 8.56% from 8.82%.
Declared $0.08 quarterly dividend payable June 15; share repurchase program of up to $2M with $335K repurchased.

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