secwatch.observer — SEC 8-K summary
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Issuer:     BayFirst Financial Corp. (BAFN)
CIK:        0001649739
Form:       8-K
Filed at:   2025-04-24T23:59:59+00:00
Accession:  0001649739-25-000113
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1649739/000164973925000113/0001649739-25-000113-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1649739/000164973925000113/bafn-20250424.htm
  HTML page:      https://secwatch.observer/filing/0001649739-25-000113

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