Earnings Releases·Oct 29, 2026, 4:00 PM ET

BayFirst Financial Corp. — Third Quarter 2026 Earnings Summary

Net loss narrowed significantly to $0.7 million ($0.04/share) in Q3 2026 from $32.7 million in Q2 2026 and $19.1 million in Q3 2025, driven by a cessation of $41.5 million in asset resolution expenses and a negative $0.1 million provision for credit losses.
Net interest income rose $1.2 million quarter-over-quarter to $10.6 million, while noninterest expense fell to $12.8 million from $17.7 million in the prior quarter; however, total assets, loans, and deposits all declined year-over-year by 14.3%, 9.1%, and 13.4% respectively.
Management expressed confidence in sustained profitability and noted deposit growth outpaced loan growth for the first time in nearly three years, though the company discontinued SBA 7(a) lending and sold $97.4 million of government-guaranteed loans in Q4.
Capital positions strengthened following a $14.4 million rights offering in October 2026, the retirement of Series D and E preferred stock, and the redemption of Series A and B shares, resulting in a Tier 1 leverage ratio of 8.79% and well-capitalized regulatory status.
Nonperforming assets decreased to 1.29% of total assets and net charge-offs fell to $3.2 million, while the allowance for credit losses on loans increased to 4.85% of total loans held for investment.