---
schema_version: "secwatch.filing_event.v1"
accession: "0001649739-25-000113"
form_type: "8-K"
ticker: "BAFN"
cik: "0001649739"
company_name: "BayFirst Financial Corp."
filed_at: "2025-04-24T23:59:59+00:00"
generated_at: "2026-05-23T07:04:35.449137+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001649739-25-000113
- form_type: 8-K
- ticker: BAFN
- cik: 0001649739
- company_name: BayFirst Financial Corp.
- filed_at: 2025-04-24T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1649739/000164973925000113/0001649739-25-000113-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1649739/000164973925000113/bafn-20250424.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001649739-25-000113
- JSON: https://secwatch.observer/filing/0001649739-25-000113.json
- Plain text: https://secwatch.observer/filing/0001649739-25-000113.txt

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