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., trading under the symbol BAFN, is a one-bank holding company dedicated to providing high-quality banking services to the Tampa Bay community. Founded in 1999, BayFirst operates First Home Bank, a locally owned and operated institution offering a personalized and friendly banking experience.
The company's core business revolves around generating revenue through interest on loans and gain-on-sale income from loan sales in the secondary market. BayFirst serves a diverse clientele, including individuals, families, and small businesses, with a special focus on residential and SBA lending, supported by advanced technology platforms.
BayFirst Financial Corp. is committed to fostering a robust corporate culture, emphasizing career development, competitive compensation, and comprehensive benefits for its employees. This commitment helps attract and retain top talent, ensuring the company remains Tampa Bay’s premier community bank.
The primary funding source for BayFirst's loans is customer deposits. The company's financial performance is measured by net interest income after provision for loan losses, return on average assets, and return on average common equity. Importantly, BayFirst maintains proper regulatory leverage and risk-based capital ratios to ensure financial stability.
BayFirst has achieved significant milestones recently, including adopting the CECL methodology for estimating credit losses as of January 1, 2023. This transition marks a significant step in the company's commitment to accurate and reliable financial reporting.
For more information or inquiries, please contact Megan Brewster, Public Relations Manager, at 727.258.5614, or Scott McKim, Chief Financial Officer, at 727.521.7085.
BayFirst Financial Corp. (NASDAQ: BAFN) will report its first quarter results on April 27, 2023, after market close. A conference call to discuss these results is scheduled for April 28, 2023, at 9:00 a.m. EDT, accessible via the Investor Relations tab on their website. BayFirst, based in St. Petersburg, Florida, is known for its operations through BayFirst National Bank, which ranks as the 8th largest SBA 7(a) lender nationwide. As of December 31, 2022, the company reported total assets of $939 million.
BayFirst Financial Corp. (Nasdaq: BAFN) has announced the hiring of two seasoned SBA lending experts, Cesar Jimenez and Jeff Smith, to strengthen its government-guaranteed lending division, CreditBench. Both previously held vice president roles at GBank, bringing over 40 years of combined experience. Jimenez contributed $23 million in SBA loans in just six months at GBank. CreditBench, ranked No. 8 nationally for SBA 7(a) loans, has originated over $1.7 billion since 2016. The new hires are expected to enhance business operations and customer support significantly, aligning with BayFirst’s growth strategy in the small business lending sector.
BayFirst Financial Corp. (NASDAQ: BAFN) has announced a stock repurchase program allowing for the buyback of up to $1.0 million of its outstanding shares. This program is set to commence on February 28, 2023, and will extend until the earlier of program completion or December 31, 2023. BayFirst has established itself as a significant player in the SBA lending market, being the 8th largest SBA 7(a) lender nationwide and the top lender in the Tampa Bay area. As of December 31, 2022, the company reported a total asset value of $939 million.
BayFirst National Bank has appointed Wade Stringfield as vice president and SBA lending officer within its SBA loan division, CreditBench, which was the No. 8 SBA 7(a) lender in the U.S. for the fiscal year 2022. Stringfield, with 15 years of experience, previously served as SBA sales manager at SaviBank, generating over $33 million in loans since 2021. His role focuses on expanding CreditBench’s market in the Pacific Northwest by marketing and closing SBA loans up to $5 million. BayFirst's CreditBench has originated over $1 billion in SBA loans since 2016, showcasing its commitment to small business lending and competitive offerings.
BayFirst National Bank has appointed Raj Badri as vice president and SBA lending officer within its CreditBench division. Badri brings over 20 years of experience, including his prior roles at Acclivity Financial and Centrust Bank. His focus will be on promoting SBA and USDA loans nationwide. CreditBench, a leading SBA 7(a) lender, has originated over $1 billion in loans since 2016. The bank anticipates that Badri's expertise will enhance its capabilities to support small businesses and achieve its production goals for 2023 and beyond. BayFirst Financial Corp. has $939 million in total assets as of December 31, 2022.
FAQ
What is the current stock price of BayFirst Financial (BAFN)?
What is the market cap of BayFirst Financial (BAFN)?
What is BayFirst Financial Corp.?
What services does BayFirst Financial Corp. offer?
How does BayFirst Financial Corp. generate revenue?
What is the primary funding source for BayFirst's loans?
How does BayFirst measure its financial performance?
What recent changes has BayFirst implemented?
Who can I contact for more information about BayFirst Financial Corp.?
When was BayFirst Financial Corp. founded?
What is BayFirst's approach to employee development?
Where is BayFirst Financial Corp. located?
