BayFirst Financial Corp. Announces Quarterly Cash Dividend of $0.07 Per Common Share
BayFirst Financial Corp. (OTCQX: FHBI) announced a quarterly cash dividend of $0.07 per common share, payable on December 15, 2021, to shareholders of record by November 15, 2021. This is the 22nd consecutive cash dividend since its initiation in 2016. In Q3 2021, BayFirst reported a net income of $1.28 million, or $0.26 per diluted share, a decline from $13.02 million in Q2 2021. The decrease is attributed to lower recognition of PPP origination fee income and gains from previous loan sales, partially offset by a negative provision for loan losses of $3.00 million.
- Continued cash dividends enhance shareholder income.
- 22nd consecutive cash dividend reflects company stability.
- Negative provision for loan losses of $3.00 million indicates improved asset quality.
- Net income declined significantly from previous quarters.
- Lower recognition of PPP-related income adversely affected earnings.
ST. PETERSBURG, Fla., Oct. 29, 2021 (GLOBE NEWSWIRE) -- BayFirst Financial Corp. (f/k/a First Home Bancorp, Inc.) (OTCQX: FHBI) (“BayFirst” or the “Company”), parent company of First Home Bank, today announced its Board of Directors declared a quarterly cash dividend of
On October 28, 2021, BayFirst reported earnings for the third quarter of 2021 of
About BayFirst Financial Corp.
BayFirst Financial Corp. (f/k/a First Home Bancorp, Inc.) is a registered bank holding company which commenced operations on September 1, 2000. Its primary source of income is from its wholly owned subsidiary, First Home Bank, which commenced business operations on February 12, 1999. First Home Bank is a Federal Reserve member and a state-chartered banking institution. The Bank operates six full-service office locations, 24 mortgage loan production offices, and is in the top 45 by dollar volume and top 20 by number of units, of nation-wide SBA lenders
BayFirst Financial Corp., through the bank, offers a broad range of commercial and consumer banking services including various types of deposit accounts and loans for businesses and individuals. As of September 30, 2021, BayFirst Financial Corp. had
Forward Looking Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “could,” “should,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project,” “is confident that” and similar expressions are intended to identify these forward-looking statements. These forward-looking statements involve risk and uncertainty and a variety of factors could cause our actual results and experience to differ materially from the anticipated results or other expectations expressed in these forward-looking statements. BayFirst Financial Corp. does not have a policy of updating or revising forward-looking statements except as otherwise required by law, and silence by management over time should not be construed to mean that actual events are occurring as estimated in such forward-looking statements.
| Contacts: | |
| Anthony N. Leo Chief Executive Officer 727.399.5678 | Jeffrey M. Hunt Chief Strategy Officer 727.399.5687 |
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