BayFirst Financial Corp (NAS:BAFN)

Q3 2025 Bayfirst Financial Corp Earnings Call Transcript

Oct 31, 2025 / 01:00 PM GMT

Release Date Price: $6.81 (-2.25%)

Transcript 10-Q8-K

Key Points

Positve

BayFirst Financial Corp (BAFN) is exiting the SBA 7A lending business, which is expected to reduce material risk and operating losses.
The company has signed a definitive agreement to sell a large portion of its SBA 7A portfolio to BENESCO USA, which is anticipated to close later in the quarter.
More than 84% of BayFirst Financial Corp (BAFN)'s deposits are insured, providing a stable funding foundation.
The company is focusing on its community banking mission, emphasizing relationships with local individuals, families, and small businesses.
BayFirst Financial Corp (BAFN) has enhanced its treasury management services, which has gained traction and is expected to continue growing.

Negative

BayFirst Financial Corp (BAFN) reported a net loss of $18.9 million in the third quarter, a significant increase from the $1.2 million loss in the second quarter.
The company recorded a restructuring charge of $7.3 million related to the exit from the SBA 7A lending business.
Net interest margin decreased by 45 basis points to 3.61% in the third quarter.
Non-interest income was negative $1 million for the third quarter, primarily due to the decrease in gains on the sale of SBA 7A government-guaranteed loans.
The tangible book value decreased to $17.90 per share from $22.30 per share at the end of the second quarter.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BAFN.OQ - Bayfirst Financial Corp
Q3 2025 Bayfirst Financial Corp Earnings Call
Oct 31, 2025 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning ladies and gentlemen, and welcome to the Bay First Financial Corp Q3 2025 conference call and webcast. At this time, our lines are in a listen-only mode. Following the presentation, we will conduct a question-and-answer session. If at any time during this call you need assistance, please press 0 for the operator.

This call is being recorded on a Friday, October 31, 2025. I would now let's turn the conference over to CEO Tom Zernik. Please go ahead.

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Unidentified_2 [2]
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Thank you, Joanna. Good morning and thank you for joining

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