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. 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.
BayFirst Financial Corp. (NASDAQ: BAFN) has appointed Sheryl WuDunn to its Board of Directors, effective immediately. WuDunn, a Pulitzer Prize-winning journalist, co-founder of FullSky Partners, and former Goldman Sachs vice president, brings significant expertise in technology and social impact. Her appointment is expected to enhance board diversity and strengthen the company’s strategic approach to innovation. BayFirst, which operates First Home Bank, reported total assets of $917.10 million as of December 31, 2021, and is recognized as a top SBA lender.
BayFirst Financial Corp. announced the promotions of Tom Zernick to President of First Home Bank and Robin Oliver to Chief Operating Officer and CFO. These changes follow the company’s record-breaking earnings for 2021, which saw a 93.80% increase in net income, totaling $24.62 million. Zernick will enhance loan and deposit generation, while Oliver will improve operational efficiencies. BayFirst reported total assets of $917.10 million as of December 31, 2021, and is now trading under the NASDAQ symbol 'BAFN'.
BayFirst Financial Corp. (NASDAQ: BAFN) announced a 14% increase in its quarterly cash dividend to $0.08 per share, payable on March 15, 2022. This marks the 23rd consecutive quarterly dividend since 2016, signifying a 240% increase over that period. The company reported fourth-quarter earnings of $2.81 million or $0.61 per diluted share, with a rise in gains from SBA loan sales, despite reduced fee income from the PPP program. The total assets of BayFirst stood at $917.10 million as of December 31, 2021.
BayFirst Financial Corp (NASDAQ: BAFN) reported a fourth-quarter 2021 net income of $2.81 million, equating to $0.61 per diluted share. This reflects a significant increase from $1.28 million in Q3 2021 but a decline from $5.61 million in Q4 2020. Annual net income surged 93.8% to $24.62 million, aided by higher SBA loan sales and PPP origination fees. The tangible book value rose 35.8% to $21.75 per share. Despite a 16.5% drop in net interest income from the previous quarter due to reduced PPP fees, total deposits climbed 29.15% year-over-year, indicating strong growth momentum.
BayFirst Financial Corp. (Nasdaq: BAFN) has amended its stock repurchase program, allowing up to $450,000 of its common stock to be repurchased each quarter. This change, effective immediately, follows earlier increases in the program's limits, initially set at $100,000 per quarter and raised to $400,000. The program will continue until a total of $1,000,000 is repurchased or until October 1, 2022. BayFirst's total assets stood at $943.74 million as of September 30, 2021.
BayFirst Financial Corp. (OTCQX: FHBI) announced that its common stock will begin trading on the Nasdaq Capital Market under the symbol "BAFN" starting November 30, 2021. This milestone positions BayFirst as the only Nasdaq-listed bank holding company on Florida's west coast and one of only seven in the state. The company reported significant growth in its SBA lending division, becoming the No. 1 SBA lender in the Tampa Bay area. Additionally, BayFirst's mortgage division surpassed $2 billion in mortgage loans in 2021, furthering its expansion with new banking centers.