Welcome to our dedicated page for FHBI news (Ticker: FHBI), a resource for investors and traders seeking the latest updates and insights on FHBI stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect FHBI's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of FHBI's position in the market.
BayFirst Financial Corp. (NASDAQ: BAFN) has revised its second quarter 2022 earnings, reporting a net loss of $282,000, or $(0.12) per diluted share, a significant change from the previously reported income of $328,000. This loss is attributed to a restructuring charge related to the discontinuation of its mortgage business and a $3 million drop in residential loan fee income. Despite these setbacks, SBA loan production surged to $90 million, marking a 90.2% increase from the previous quarter. The bank's net interest margin improved to 3.73% due to interest rate hikes, reflecting a strategic pivot towards community banking.
BayFirst Financial Corp. (NASDAQ: BAFN) declared a quarterly cash dividend of $0.08 per common share, payable on September 15, 2022 to shareholders of record as of September 1, 2022. This dividend marks the 25th consecutive payment since dividends were initiated in 2016. As of June 30, 2022, BayFirst Financial reported total assets of $921.9 million and operates through its subsidiary, BayFirst National Bank, which is among the top 15 lenders in SBA loans by volume.
BayFirst Financial Corp. (NASDAQ: BAFN) reported Q2 2022 earnings of $328K, up from $13K in Q1 2022 but down from $13M in Q2 2021. Loan production surged 200% year-to-date. Key measures include a $2.5M reduction in salaries, $2.9M increase in SBA loan fair value gains, and a $1M rise in net interest income. However, restructuring charges of $630K, a $3M decline in residential loan fees, and a $2.7M increase in loan loss provisions noted. The company's net interest margin expanded to 3.73%. BayFirst also launched the BOLT product for quick SBA loans, further enhancing loan origination capabilities.
BayFirst Financial Corp. (NASDAQ: BAFN) announced a quarterly cash dividend of $0.08 per common share, payable on June 15, 2022 to shareholders of record by June 1, 2022. This marks the 24th consecutive quarterly dividend since the company began distributing dividends in 2016. As of March 31, 2022, BayFirst reported total assets of $888.54 million and ranks among the top 25 nationwide for SBA loan origination.
BayFirst Financial Corp. (NASDAQ: BAFN) reported a net income of $13,000 for Q1 2022, a significant decline from $7.51 million in Q1 2021 and $2.81 million in Q4 2021. This decline was primarily due to disruptions in the residential secondary market, a 29.7% drop in residential loan production, and a 205% increase in SBA loan production year-over-year. The company's tangible book value decreased by 2.42% to $21.22 per share. Despite challenges, CEO Anthony N. Leo highlighted strength in asset quality and positive SBA loan pipeline growth.
BayFirst Financial Corp. announces the launch of LoanBud, a new lending division aimed at aiding self-employed homebuyers and small business owners. With alternatives to traditional tax returns, LoanBud allows easier mortgage qualification options, addressing challenges faced by over 53 million freelance workers in the U.S. Additionally, it offers up to $5 million in SBA loans, enhancing support for entrepreneurs. This initiative is part of BayFirst's commitment to expanding financial access for the growing self-employed workforce.
BayFirst Financial Corp. (NASDAQ: BAFN) has appointed Sheryl WuDunn to its Board of Directors, effective immediately. WuDunn, a Pulitzer Prize-winning journalist, co-founder of FullSky Partners, and former Goldman Sachs vice president, brings significant expertise in technology and social impact. Her appointment is expected to enhance board diversity and strengthen the company’s strategic approach to innovation. BayFirst, which operates First Home Bank, reported total assets of $917.10 million as of December 31, 2021, and is recognized as a top SBA lender.
BayFirst Financial Corp. announced the promotions of Tom Zernick to President of First Home Bank and Robin Oliver to Chief Operating Officer and CFO. These changes follow the company’s record-breaking earnings for 2021, which saw a 93.80% increase in net income, totaling $24.62 million. Zernick will enhance loan and deposit generation, while Oliver will improve operational efficiencies. BayFirst reported total assets of $917.10 million as of December 31, 2021, and is now trading under the NASDAQ symbol 'BAFN'.
BayFirst Financial Corp. (NASDAQ: BAFN) announced a 14% increase in its quarterly cash dividend to $0.08 per share, payable on March 15, 2022. This marks the 23rd consecutive quarterly dividend since 2016, signifying a 240% increase over that period. The company reported fourth-quarter earnings of $2.81 million or $0.61 per diluted share, with a rise in gains from SBA loan sales, despite reduced fee income from the PPP program. The total assets of BayFirst stood at $917.10 million as of December 31, 2021.
