---
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"
generated_at: "2026-05-17T01:21:30.906386+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.05, 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1649739/000164973925000246/0001649739-25-000246-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1649739/000164973925000246/bafn-20251028.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001649739-25-000246
- JSON: https://secwatch.observer/filing/0001649739-25-000246.json
- Plain text: https://secwatch.observer/filing/0001649739-25-000246.txt

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