BayFirst Financial Corp. Reports First Quarter 2024 Results; Highlighted by Strong Loan and Deposit Growth with Higher Provision for Credit Losses
BayFirst Financial Corp. (BAFN)
Company Research
Source: GlobeNewswire
ST. PETERSBURG, Fla., April 25, 2024 (GLOBE NEWSWIRE) -- BayFirst Financial Corp. (NASDAQ: BAFN) (“BayFirst” or the “Company”), parent company of BayFirst National Bank (the “Bank”) today reported net income of $0.8 million, or $0.11 per diluted common share, for the first quarter of 2024, compared to $1.7 million, or $0.32 per diluted common share, in the fourth quarter of 2023. Net income decreased due to two primary factors: higher provision for credit losses of $1.4 million, coupled with weaker Core SBA 7(a) loan production ($350 thousand to $5 million loan size) attributed to the continued higher interest rate environment negatively impacting loan demand. “BayFirst opened its twelfth banking office in the attractive Tampa Bay market during the first quarter. The South Sarasota location completes our near-term branch expansion plans,” stated Thomas G. Zernick, Chief Executive Officer. “We were successful in growing deposit balances by $22.2 million during the quarter, and by
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News
- BayFirst Financial Corp. Reports First Quarter 2024 Results; Highlighted by Strong Loan and Deposit Growth with Higher Provision for Credit Losses [Yahoo! Finance]Yahoo! Finance
- BayFirst Financial Corp. Announces First Quarter 2024 Conference Call and Webcast [Yahoo! Finance]Yahoo! Finance
- BayFirst Financial Corp. Announces First Quarter 2024 Conference Call and WebcastGlobeNewswire
- Four Days Left To Buy BayFirst Financial Corp. (NASDAQ:BAFN) Before The Ex-Dividend Date [Yahoo! Finance]Yahoo! Finance
BAFN
Sec Filings
- 4/30/24 - Form 8-K
- 4/25/24 - Form 8-K
- 4/5/24 - Form DEF
- BAFN's page on the SEC website