{"schema_version":"secwatch.filing_event.v1","accession":"0001649739-26-000041","form_type":"8-K","ticker":"BAFN","cik":"0001649739","company_name":"BayFirst Financial Corp.","filed_at":"2026-07-15T20:00:57+00:00","discovered_at":"2026-07-15T20:02:00.364039+00:00","generated_at":"2026-07-15T20:02:13.353989+00:00","sec_items":["2.02","4.02","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"BayFirst restates 2024-2026 results; $37M loan adjustments, non-reliance on prior financials","bullets":["Asset resolution plan triggers $37.0M in loan adjustments on SBA 7(a) and government-guaranteed portfolios.","Impairment of $1.5M on non-marketable equity investment and $1.6M write-down on USDA loan premiums.","2024 net income restated from $12.6M to $11.4M; 2025 net loss from $22.9M to $24.2M; Q1 2026 net loss from $5.7M to $5.9M.","Identified $2.8M deferred origination costs and $2.1M accrued interest on defaulted loans, understating provision expense.","Amendments to 2025 Form 10-K and Q1 2026 Form 10-Q expected by August 12, 2026; recovery analysis of executive compensation underway."],"urls":{"canonical":"https://secwatch.observer/filing/0001649739-26-000041","json":"https://secwatch.observer/filing/0001649739-26-000041.json","markdown":"https://secwatch.observer/filing/0001649739-26-000041.md","text":"https://secwatch.observer/filing/0001649739-26-000041.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1649739/000164973926000041/0001649739-26-000041-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1649739/000164973926000041/bafn-20260714.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-07-15T20:02:13.353989+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}