secwatch / observer

8-K filed October 30, 2025, 7:59 PM ET ticker BAFN CIK 0001649739

other material confidence high sentiment negative materiality 0.85

BayFirst reports $18.9M Q3 loss, exits SBA 7(a) lending; customer data exposed in cyber incident

BayFirst Financial Corp.

Net loss of $18.9M ($4.66 EPS) vs net loss of $1.2M in Q2 2025; includes $12.4M in one-time charges.
Exiting SBA 7(a) lending; definitive agreement to sell loans to Banesco USA at 97% of balances; close expected Q4 2025.
Provision for credit losses $10.9M; ACL ratio increased to 2.61% of loans held for investment from 1.65%.
Book value per share fell to $17.90 from $22.30; Tier 1 leverage ratio declined to 6.64% from 8.11%.
Third-party marketing provider exposed customer names, DOBs, and SSNs; no evidence of misuse to date.

item 1.05 item 2.02 item 7.01 item 9.01

Machine-readable event card

schema_version: secwatch.filing_event.v1
accession: 0001649739-25-000246
form_type: 8-K
ticker: BAFN
cik: 0001649739
company_name: BayFirst Financial Corp.
filed_at: 2025-10-30T23:59:59+00:00
discovered_at: 2026-05-14T18:02:40.041681+00:00
generated_at: 2026-05-17T01:21:30.906386+00:00
sec_items: ["1.05", "2.02", "7.01", "9.01"]
event_type: other_material
sentiment: negative
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: high
secwatch_canonical_url: https://secwatch.observer/filing/0001649739-25-000246
json_url: https://secwatch.observer/filing/0001649739-25-000246.json
markdown_url: https://secwatch.observer/filing/0001649739-25-000246.md
text_url: https://secwatch.observer/filing/0001649739-25-000246.txt
edgar_index_url: https://www.sec.gov/Archives/edgar/data/1649739/000164973925000246/0001649739-25-000246-index.htm
edgar_primary_document_url: https://www.sec.gov/Archives/edgar/data/1649739/000164973925000246/bafn-20251028.htm
generated_by_model: deepseek-v4-flash:cloud@v2
review_status: machine_generated
human_reviewed: false
corrected: false
correction_note: null
correction_timestamp: null
superseded_by: null

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