secwatch.observer — SEC 8-K summary
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Issuer:     BayFirst Financial Corp. (BAFN)
CIK:        0001649739
Form:       8-K
Filed at:   2026-08-13T20:00:39+00:00
Accession:  0001649739-26-000058
Event type: earnings
Sentiment:  negative
Materiality: 1.00
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BayFirst posts Q2 net loss of $32.7M; asset resolution plan charges $41.5M
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- Net loss of $32.7M ($8.05/share) vs restated Q1 loss of $5.9M; driven by $41.5M asset resolution plan expenses.
- Restating 2024, 2025, Q1 2026: understated provision expense ($2.8M pretax) and overstated gain on sale ($3.4M pretax) on SBA 7(a) loans.
- Book value per share fell to $4.83 from $14.22 at March 31, 2026; tangible book value $4.82.
- Loans held for investment down 21.2% YoY to $882.8M; deposits down 15% to $988.9M.
- Bank well-capitalized (Tier 1 leverage 8.30%); redeemed Series A and B preferred for $6.46M and $3.24M in August 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1649739/000164973926000058/0001649739-26-000058-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1649739/000164973926000058/bafn-20260813.htm
  HTML page:      https://secwatch.observer/filing/0001649739-26-000058

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