BayFirst Financial posts Q2 net loss of $1.2M; suspends dividends; strategic review ongoing

BayFirst Financial Corp.

2025-Q2 EPS reported -$0.57

Net loss of $1.2M ($0.39/share) vs. loss of $0.3M in Q1 2025 and income of $0.9M in Q2 2024.
Board suspends common and preferred stock dividends; also suspends board of director fees to offset impact.
Provision for credit losses rose to $7.3M (from $4.4M Q1 and $3.0M Q2 2024); net charge-offs $6.8M (2.60% annualized).
Net interest margin improved 29bps to 4.06% QoQ; community bank loans grew 3% during the quarter.
Strategic review initiated to derisk unguaranteed SBA 7(a) balances; additional info expected in coming weeks.

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