Welcome to our dedicated page for Bayfirst Financial news (Ticker: BAFN), a resource for investors and traders seeking the latest updates and insights on Bayfirst Financial stock.
BayFirst Financial Corp. (NASDAQ: BAFN) is a bank holding company based in St. Petersburg, Florida, and the parent of BayFirst National Bank. The company’s news flow centers on its community banking activities in the Tampa Bay–Sarasota region, its loan and deposit trends, and its strategic decisions in areas such as SBA lending and balance sheet management.
Visitors to this BayFirst news page can review company-issued press releases and related announcements. These include quarterly earnings reports that discuss net interest income, noninterest income, noninterest expense, loan originations, deposit growth, asset quality metrics, and capital ratios. The company also announces conference calls and webcasts where management discusses financial results and strategic priorities.
BayFirst’s news has highlighted its historical role in SBA 7(a) lending, the development and later discontinuation of its Bolt SBA 7(a) loan program, and its comprehensive strategic review aimed at derisking unguaranteed SBA 7(a) balances. Announcements describe the company’s decision to exit the SBA 7(a) lending business, the sale of SBA 7(a) loan portfolios to Banesco USA, and the shift toward a stronger emphasis on community banking in its Florida markets.
Other news items include updates on restructuring charges, workforce changes linked to strategic initiatives, and actions taken to support credit quality and regulatory expectations. The company has also reported on a cybersecurity incident at a third-party marketing services provider and the steps taken in response. Investors and analysts can use this page to follow how BayFirst’s management describes its operating environment, risk management, and long-term strategic direction.
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BayFirst Financial Corp. (NASDAQ: BAFN) will report its first quarter results on April 27, 2023, after market close. A conference call to discuss these results is scheduled for April 28, 2023, at 9:00 a.m. EDT, accessible via the Investor Relations tab on their website. BayFirst, based in St. Petersburg, Florida, is known for its operations through BayFirst National Bank, which ranks as the 8th largest SBA 7(a) lender nationwide. As of December 31, 2022, the company reported total assets of $939 million.
BayFirst Financial Corp. (Nasdaq: BAFN) has announced the hiring of two seasoned SBA lending experts, Cesar Jimenez and Jeff Smith, to strengthen its government-guaranteed lending division, CreditBench. Both previously held vice president roles at GBank, bringing over 40 years of combined experience. Jimenez contributed $23 million in SBA loans in just six months at GBank. CreditBench, ranked No. 8 nationally for SBA 7(a) loans, has originated over $1.7 billion since 2016. The new hires are expected to enhance business operations and customer support significantly, aligning with BayFirst’s growth strategy in the small business lending sector.
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