BayFirst Financial Corp. Announces Exit from SBA 7(a) Business and $103 Million Loan Sale
BayFirst Financial Corp. (NASDAQ: BAFN) has announced its strategic exit from the SBA 7(a) lending business, including a significant $103 million loan sale to Banesco USA. The transaction, expected to close in Q4 2025, involves selling the loans at 97% of retained balances, with Banesco USA assuming servicing rights for both purchased and remaining BayFirst-owned SBA loans.
The strategic move aligns with BayFirst's earlier announced comprehensive review aimed at derisking SBA 7(a) balances and enhancing shareholder value. Most of BayFirst's current SBA lending staff will be offered positions at Banesco USA. Moving forward, BayFirst will focus on its community banking mission, serving the Tampa Bay region with retail banking products and services.
BayFirst Financial Corp. (NASDAQ: BAFN) ha annunciato la sua uscita strategica dal settore dei prestiti SBA 7(a), inclusa una significativa vendita di prestiti per $103 milioni a Banesco USA. L'operazione, prevista per chiudersi nel quarto trimestre del 2025, comporta la vendita dei prestiti al 97% dei saldi trattenuti, con Banesco USA che assumerà i diritti di servizio sia per i prestiti SBA acquistati sia per quelli rimasti di BayFirst.
La mossa strategica è in linea con la revisione globale annunciata in precedenza da BayFirst, volta a ridurre il rischio sui saldi SBA 7(a) e a valorizzare gli azionisti. La maggior parte del personale attuale nel lending SBA verrà offerta per posizioni presso Banesco USA. Guardando avanti, BayFirst si concentrerà sulla sua missione di banca comunitaria, servendo la regione di Tampa Bay con prodotti e servizi di banca al dettaglio.
BayFirst Financial Corp. (NASDAQ: BAFN) ha anunciado su salida estratégica del negocio de préstamos SBA 7(a), incluyendo una importante venta de préstamos por 103 millones de dólares a Banesco USA. La operación, que se espera cierre en el cuarto trimestre de 2025, implica vender los préstamos al 97% de los saldos retenidos, con Banesco USA asumiendo los derechos de servicio de los préstamos SBA adquiridos y de los que BayFirst aún posea.
Este movimiento estratégico se alinea con la revisión integral anunciada anteriormente por BayFirst para reducir el riesgo de los saldos SBA 7(a) y aumentar el valor para los accionistas. La mayor parte del personal actual de préstamos SBA será ofrecido en Banesco USA. En el futuro, BayFirst se centrará en su misión de banca comunitaria, sirviendo a la región de Tampa Bay con productos y servicios minoristas.
BayFirst Financial Corp. (NASDAQ: BAFN)가 SBA 7(a) 대출 사업에서 전략적 철수를 발표했습니다. 여기에는 Banesco USA에 대한 $103 million의 대출 매각이 포함됩니다. 거래는 2025년 4분기에 마감될 것으로 예상되며, 매각 대출은 잔액의 97%에 해당하는 가격으로 매각되며, Banesco USA가 매입한 SBA 대출과 BayFirst가 보유한 남은 SBA 대출의 서비스 권리를 인수합니다.
이 전략적 조치는 SBA 7(a) 잔액의 리스크를 줄이고 주주 가치를 높이려는 BayFirst의 앞서 발표한 포괄적 검토와 일치합니다. 현재의 SBA 대출 직원 대부분은 Banesco USA에서의 직책이 제안될 예정입니다. 앞으로 BayFirst는 커뮤니티 뱅킹 임무에 집중하고, Tampa Bay 지역에 소매 은행 상품과 서비스를 제공하게 됩니다.
BayFirst Financial Corp. (NASDAQ: BAFN) a annoncé sa sortie stratégique du secteur des prêts SBA 7(a), incluant une importante vente de prêts pour 103 millions de dollars à Banesco USA. L'opération, dont la clôture est prévue au quatrième trimestre 2025, consiste à vendre les prêts à 97 % des soldes retenus, Banesco USA assumant les droits de service des prêts SBA achetés et de ceux restants détenus par BayFirst.
Cette démarche s'aligne sur l'examen global précédemment annoncé par BayFirst visant à réduire les risques liés aux soldes SBA 7(a) et à accroître la valeur pour les actionnaires. La plupart du personnel actuel dédié au financement SBA se verra proposer des postes chez Banesco USA. À l'avenir, BayFirst se concentrera sur sa mission de banque communautaire, au service de la région de Tampa Bay avec des produits et services bancaires de détail.
BayFirst Financial Corp. (NASDAQ: BAFN) hat den strategischen Ausstieg aus dem SBA-7(a)-Kreditgeschäft bekannt gegeben, einschließlich einer bedeutenden Kreditportfolioveräußerung in Höhe von 103 Millionen USD an Banesco USA. Die Transaktion soll im vierten Quartal 2025 abgeschlossen werden und beinhaltet den Verkauf der Kredite zu 97 % der einbehaltenen Salden, wobei Banesco USA die Servicing-Rechte sowohl für die gekauften SBA-Darlehen als auch für die verbleibenden BayFirst-eigenen SBA-Darlehen übernimmt.
Diese strategische Entscheidung steht im Einklang mit der zuvor angekündigten umfassenden Überprüfung von BayFirst, die darauf abzielt, das Risiko der SBA-7(a)-Saldo zu senken und den Aktionären Wert zu liefern. Der Großteil des aktuellen SBA-Kreditpersonals erhält Angebote für Positionen bei Banesco USA. Zukünftig wird sich BayFirst auf seine Mission als Community-Bank konzentrieren und der Region Tampa Bay mit Einzelhandelsbankprodukten und -dienstleistungen dienen.
BayFirst Financial Corp. (NASDAQ: BAFN) أعلنت عن خروجها الاستراتيجي من أعمال إقراض SBA 7(a)، بما في ذلك بيع قروض كبير إلى Banesco USA بقيمة $103 مليون. من المتوقع أن تكتمل الصفقة في الربع الرابع من 2025، وتتمثل في بيع القروض بسعر 97% من الرصيد المحتفظ به، مع تولي Banesco USA حقوق الخدمة للقروض SBA المشتراة وللقروض التي لا تزال مملوكة لـ BayFirst.
يتماشى هذا التحرك الاستراتيجي مع المراجعة الشاملة التي أعلنتها BayFirst سابقاً旨 لتقليل مخاطر أرصدة SBA 7(a) وزيادة قيمة المساهمين. سيتم عرض معظم موظفي قسم قروض SBA الحاليين على Banesco USA. في المستقبل، ستركز BayFirst على مهمتها المصرفية المجتمعية، لخدمة منطقة Tampa Bay بمنتجات وخدمات مصرفية بالتجزئة.
BayFirst Financial Corp.（NASDAQ：BAFN）宣布战略性退出SBA 7(a)贷款业务，其中包括向 Banesco USA 出售 1.03亿美元贷款的重大交易。交易预计于2025年第四季度完成，涉及按 保留余额的97%出售贷款，Banesco USA 接管已购买贷款及 BayFirst 尚在持有的 SBA 贷款的服务权。
此次举措与 BayFirst 先前宣布的全面审查保持一致，旨在降低 SBA 7(a) 余额的风险并提升股东价值。当前多数 SBA 贷款员工将获得在 Banesco USA 的岗位机会。展望未来，BayFirst 将专注于社区银行业务，为坦帕湾地区提供零售银行产品与服务。
- None.
- Complete exit from potentially profitable SBA 7(a) lending business
- Loss of recurring revenue stream from SBA lending operations
- 3% discount on loan sale value represents immediate financial impact
Insights
BayFirst's exit from SBA lending through a $103M loan sale represents strategic derisking with potential improved stability at minimal loss.
BayFirst's decision to exit the SBA 7(a) lending business and sell
This move appears to be part of a deliberate strategy to derisk the balance sheet by shifting away from SBA lending, which typically carries higher operational costs and potentially greater volatility than traditional community banking. The fact that Banesco will also purchase the servicing rights at book value and handle servicing for loans BayFirst continues to own creates a clean break while maintaining revenue continuity on the retained portfolio.
The strategic rationale aligns with shifting toward more stable funding sources through community banking operations. By focusing on core deposit relationships in the Tampa Bay region, BayFirst is positioning for potentially more predictable margins and funding costs. While the company will lose the revenue stream from SBA origination, the trade-off appears aimed at creating a more consistent earnings profile with reduced operational complexity.
For shareholders, this represents a calculated pivot toward a potentially more stable business model. The minimal discount on the loan sale suggests management has executed this transition efficiently, preserving capital while strategically repositioning the company for what they believe will deliver enhanced long-term value through focused community banking operations.
ST. PETERSBURG, Fla., Sept. 29, 2025 (GLOBE NEWSWIRE) -- BayFirst Financial Corp. (NASDAQ: BAFN) (“BayFirst” or the “Company”), parent company of BayFirst National Bank (the “Bank”) today announced plans to exit the SBA 7a lending business and sell
“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
“The loans will be sold at
“We remain deeply committed to our community bank mission - serving individuals, families, and small businesses with stable checking and savings products that contribute to a more predictable, low-cost funding base. This relationship driven approach continues to strengthen our presence across the vibrant Tampa Bay region and creates opportunities to expand our community bank portfolio, deposit growth, and fee income sources like treasury management services.”
Banesco USA is an independent, Florida state-chartered bank with over
“Through the addition of BayFirst’s SBA lending team and the acquisition of a portfolio of SBA 7(a) loans, Banesco USA gains the infrastructure, expertise, and enhanced capabilities to deliver SBA lending on a national scale,” said Calixto (Cali) Garcia-Velez, President & CEO of Banesco USA. “As a business bank, we recognize that small businesses are the backbone of our economy, and this transaction aligns with our growth strategy to expand our small business lending capabilities. By acquiring this SBA 7(a) lending business and its experienced team of SBA lending professionals, we are also establishing a presence in the Greater Tampa Bay region while positioning Banesco USA to serve more small and mid-size companies across Florida and nationally.”
About BayFirst Financial Corp.
BayFirst Financial Corp. is a registered bank holding company based in St. Petersburg, Florida which commenced operations on September 1, 2000. Its primary source of income is derived from its wholly owned subsidiary, BayFirst National Bank, a national banking association which commenced business operations on February 12, 1999. The Bank currently operates twelve full-service banking offices throughout the Tampa Bay-Sarasota region and offers a broad range of commercial and consumer banking services to businesses and individuals. As of June 30, 2025, BayFirst Financial Corp. had
About Banesco USA
Banesco USA, founded in 2006 and headquartered in Miami, is an independent Florida state-chartered bank with
Forward-Looking Statements
In addition to the historical information contained herein, this presentation includes "forward-looking statements" within the meaning of such term in the Private Securities Litigation Reform Act of 1995. These statements are subject to many risks and uncertainties, including, but not limited to, the effects of health crises, global military hostilities, weather events, or climate change, including their effects on the economic environment, our customers and our operations, as well as any changes to federal, state or local government laws, regulations or orders in connection with them; the ability of the Company to implement its strategy and expand its banking operations; changes in interest rates and other general economic, business and political conditions, including changes in the financial markets; changes in business plans as circumstances warrant; risks related to mergers and acquisitions; changes in benchmark interest rates used to price loans and deposits, changes in tax laws, regulations and guidance; and other risks detailed from time to time in filings made by the Company with the SEC, including, but not limited to those “Risk Factors” described in our most recent Form 10-K and Form 10-Q. Readers should note that the forward-looking statements included herein are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking statements.
Forward-looking statements generally can be identified by the use of forward-looking terminology such as "will," "propose," "may," "plan," "seek," "expect," "intend," "estimate," "anticipate," "believe," "continue," or similar terminology. Any forward-looking statements presented herein are made only as of the date of this document, and the Company does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.
| Contacts: | |
| Thomas G. Zernick | Scott J. McKim |
| Chief Executive Officer | Chief Financial Officer |
| 727.399.5680 | 727.521.7085 |
FAQ
What is the value of BayFirst Financial's (BAFN) SBA loan sale to Banesco USA?
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