---
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"
generated_at: "2026-07-15T20:02:13.353989+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# BayFirst restates 2024-2026 results; $37M loan adjustments, non-reliance on prior financials

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 4.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001649739-26-000041
- JSON: https://secwatch.observer/filing/0001649739-26-000041.json
- Plain text: https://secwatch.observer/filing/0001649739-26-000041.txt

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