BayFirst Financial Corp. Reports Third Quarter 2026 Results
Key Highlights
- ➤Q3 net loss $0.7 million, versus $32.7 million loss in Q2
- ➤Net interest margin 4.07%, up 59 basis points sequentially
- ➤Community bank loans grew $41.9 million, or 25% annualized, excluding government guaranteed loans
- ➤Deposits rose $25.3 million, or 2.6%, during Q3 to $1.01 billion
- ➤October rights offering raised $14.4 million gross for capital and growth
Expert Statements
Al Rogers, Chief Executive Officer of BayFirst Financial Corp.
“In the second quarter we took deliberate steps under our asset resolution plan to strengthen our balance sheet, and this quarter’s results show those actions are beginning to pay off.”
Al Rogers, Chief Executive Officer of BayFirst Financial Corp.
“Total community bank loans, excluding the government guaranteed portfolio, grew $41.9 million over the prior quarter, or 25% annualized, a key highlight that reflects strong demand and the trust our customers place in us.”
Al Rogers, Chief Executive Officer of BayFirst Financial Corp.
“Net interest margin improved 59 basis points from the prior quarter, and for the first time in nearly three years, deposit growth outpaced loan growth, a clear sign that our relationship-focused approach is strengthening our funding base.”
Al Rogers, Chief Executive Officer of BayFirst Financial Corp.
“While we did report a loss for the third quarter, it was a significant improvement over prior periods.”
Al Rogers, Chief Executive Officer of BayFirst Financial Corp.
“Our strengthened foundation positions us for continued improvement in the coming quarters as we remain focused on achieving sustained profitability.”
Al Rogers, Chief Executive Officer of BayFirst Financial Corp.
“We are also encouraged by the continued improvement in asset quality.”
Al Rogers, Chief Executive Officer of BayFirst Financial Corp.
“Nonperforming assets declined as percentage of total assets, and net charge-offs were lower than in the prior quarter, further evidence that our asset resolution efforts are working.”
Al Rogers, Chief Executive Officer of BayFirst Financial Corp.
“Through it all, our focus on the communities we serve remains unwavering, and I am confident we will continue to build on our standing as the community bank of choice in our Tampa Bay and Sarasota markets.”
ST. PETERSBURG, Fla., Oct. 29, 2026 (GLOBE NEWSWIRE) -- BayFirst Financial Corp. (NASDAQ: BAFN) (“BayFirst” or “Company”), parent company of BayFirst National Bank (“Bank”) reported a net loss of $0.7 million, or $0.04 per common share and diluted common share, for the third quarter of 2026, compared to a net loss of $32.7 million, or $8.05 per common share and diluted common share, in the second quarter of 2026.
“In the second quarter we took deliberate steps under our asset resolution plan to strengthen our balance sheet, and this quarter’s results show those actions are beginning to pay off,” stated Al Rogers, Chief Executive Officer. “Total community bank loans, excluding the government guaranteed portfolio, grew $41.9 million over the prior quarter, or 25% annualized, a key highlight that reflects strong demand and the trust our customers place in us. Net interest margin improved 59 basis points from the prior quarter, and for the first time in nearly three years, deposit growth outpaced loan growth, a clear sign that our relationship-focused approach is strengthening our funding base. While we did report a loss for the third quarter, it was a significant improvement over prior periods. Our strengthened foundation positions us for continued improvement in the coming quarters as we remain focused on achieving sustained profitability.
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