BayFirst closes $94.6M SBA loan sale to Banesco USA; capital ratios improve

BayFirst Financial Corp.

Sold $94.6M of SBA 7(a) loans to Banesco USA; additional $4.5M sale expected before year-end.
Exited SBA 7(a) lending business; Banesco USA assumed servicing of remaining loans.
Proforma total capital ratio improves to 10.1%; Tier 1 leverage ratio improves to 6.8%.
Transaction part of strategic review to de-risk SBA 7(a) balances and enhance shareholder value.

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