secwatch.observer — SEC 8-K summary
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Issuer:     BayFirst Financial Corp. (BAFN)
CIK:        0001649739
Form:       8-K
Filed at:   2025-09-29T23:59:59+00:00
Accession:  0001649739-25-000241
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BayFirst to sell $103M in SBA 7(a) loans to Banesco USA; exits SBA lending business
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- Sells ~$103M SBA 7(a) loan balances at 97% of unpaid principal, plus book value of servicing rights.
- BayFirst will exit SBA 7(a) lending; majority of SBA staff offered positions at Banesco USA.
- Transaction expected to close in Q4 2025; Banesco USA will service both purchased and retained SBA loans.
- CEO says sale derisks balance sheet and supports community bank growth, deposit growth, and fee income.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1649739/000164973925000241/0001649739-25-000241-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1649739/000164973925000241/bafn-20250925.htm
  HTML page:      https://secwatch.observer/filing/0001649739-25-000241

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