Q4 2025 Bayfirst Financial Corp Earnings Call Transcript
Key Points
- BayFirst Financial Corp (BAFN) successfully exited the SBA 7(a) lending business, reducing risk and focusing on community banking.
- The company reported a stable net interest margin of 3.58% for the fourth quarter.
- Deposits grew by $12.5 million in the fourth quarter, with 85% of deposits insured by the FDIC.
- Treasury management revenues increased by 69% compared to the fourth quarter of 2024.
- The company's liquidity ratio was over 18% at year-end, supporting efforts to reduce high-cost deposits.
- BayFirst Financial Corp (BAFN) reported a net loss of $2.5 million in the fourth quarter.
- Loans held for investment decreased by $34.8 million during the fourth quarter.
- Net charge-offs from unguaranteed SBA 7(a) loans were elevated, with additional charge-offs expected.
- Shareholders' equity decreased by $23.4 million compared to the end of 2024.
- Non-interest income was negative $104,000 for the fourth quarter, a significant decrease from the previous year.
Good morning, ladies and gentlemen, and welcome to the BayFirst Financial Corp. Q4 2025 conference call and webcast. (Operator Instructions) This call is being recorded on Friday, January 30, 2026. I would now like to turn the conference over to Tom Zernick, CEO of BayFirst. Please go ahead.
Thank you, Vanessa. Good morning, and thank you for joining our call today. Once again with me is Robin Oliver, our President and Chief Operating Officer; and Scott McKim, our Chief Financial Officer. Today's call will include forward-looking statements and non-GAAP financial measures. Please refer to our cautionary statement on forward-looking statements contained on page 2 of the investor presentation.
The end of 2025 marks the completion of several significant milestones. We have executed and completed a number of strategic initiatives, including the exit from the SBA 7(a) lending business, the sale of a substantial amount of 7(a) loan balances, a significant reduction in head count and
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