BayFirst Financial Corp. Announces Exit from SBA 7(a) Business and $103 Million Loan Sale [Yahoo! Finance]
BayFirst Financial Corp. (BAFN)
Company Research
Source: Yahoo! Finance
the “Company”), parent company of BayFirst National Bank (the “Bank”) today announced plans to exit the SBA 7a lending business and sell $103 million of SBA 7(a) loan balances to Banesco USA. “As we announced earlier in the year, Management and the Board initiated a comprehensive strategic review aimed at derisking SBA 7(a) balances on the balance sheet and positioning the Company for long-term growth and enhanced shareholder value,” stated Thomas G. Zernick, Chief Executive Officer. “Today marks a significant milestone in our efforts. BayFirst has signed a definitive agreement to sell $103 million in SBA 7(a) loans to Banesco USA. In conjunction with this agreement, BayFirst will exit the SBA 7(a) lending business, and the majority of our current SBA lending staff and support teams will be offered positions with Banesco USA. We expect the transaction to close in the fourth quarter of this year. “The loans will be sold at 97% of retained balances and Banesco USA will assume servic
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BAFN
News
- BayFirst Financial (NASDAQ:BAFN) had its "sell (d+)" rating reaffirmed by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a>.MarketBeat
- BayFirst Financial (NASDAQ:BAFN) was downgraded by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a> from a "hold (c-)" rating to a "sell (d+)" rating.MarketBeat
- BayFirst Incurs Loss in Q3, Exits SBA Lending Amid Shakeup [Yahoo! Finance]Yahoo! Finance
- BayFirst Financial Corp. Reports Third Quarter 2025 Results, Announces Restructuring Plan Including Exit From SBA 7(a) LendingGlobeNewswire
- BayFirst Financial (NASDAQ:BAFN) had its "hold (c-)" rating reaffirmed by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a>.MarketBeat
BAFN
Sec Filings
- 11/25/25 - Form 4
- 11/17/25 - Form 4
- 11/17/25 - Form 4
- BAFN's page on the SEC website