BayFirst Financial Corp. reports developments for a Florida bank holding company whose wholly owned subsidiary, BayFirst National Bank, provides community banking services to individuals, families and small businesses. Recurring updates cover operating results, deposit trends, credit quality, capital ratios, loan portfolio actions and treasury management revenue within its Tampa Bay banking franchise.
The company's news also includes capital actions, leadership and governance changes, restructuring steps and completed loan sales tied to its exit from SBA 7(a) lending. Updates describe the shift toward core community bank funding, relationship deposits and fee income sources.
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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.
BayFirst Financial Corp. (NASDAQ: BAFN) has announced a stock repurchase program allowing for the buyback of up to $1.0 million of its outstanding shares. This program is set to commence on February 28, 2023, and will extend until the earlier of program completion or December 31, 2023. BayFirst has established itself as a significant player in the SBA lending market, being the 8th largest SBA 7(a) lender nationwide and the top lender in the Tampa Bay area. As of December 31, 2022, the company reported a total asset value of $939 million.