BayFirst Financial Corp. Declares 3:2 Common Stock Split and Increases Quarterly Cash Dividend

Rhea-AI Summary

The board of BayFirst Financial Corp. (OTCQX: FHBI) has declared a 3:2 common stock split effective May 10, 2021, allowing shareholders to receive three common shares for every two shares owned. Additionally, a second quarter cash dividend of 7 cents per share has been approved, payable on June 15, 2021, to shareholders of record by May 15, 2021. This dividend marks a 5% increase from the previous quarter and represents the 20th consecutive quarter of cash dividends paid to shareholders. As of March 31, 2021, BayFirst reported total assets of $1.7 billion.

Positive

• Declared a 3:2 common stock split, enhancing shareholder value.
• Announced a 7-cent cash dividend per share, a 5% increase over the previous quarter.
• Achieved 20 consecutive quarters of dividend payments, signaling sustained financial health.

Negative

• None.

The board of directors of BayFirst Financial Corp. (f/k/a First Home Bancorp, Inc.) (OTCQX: FHBI) (“BayFirst” or the “Company”), parent company of First Home Bank, announced today that it has declared a 3:2 common stock split effective May 10, 2021. Pursuant to the split, common shareholders of record as of May 10, 2021 will receive three common shares of the Company’s common stock for every two shares owned as of the record date.

The Company’s board of directors also declared a second quarter cash dividend of 7 cents per common share, payable on June 15, 2021 to shareholders of record as of May 15, 2021. The cash dividend represents a 5% increase in the cash dividend paid to common shareholders over the previous quarter and the 20 consecutive quarters in which BayFirst has paid a cash dividend.

About BayFirst

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, 29 mortgage loan production offices, and is a top nation-wide SBA lender.

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 March 31, 2021, Bay First Financial Corp. had $1.7 billion in total assets, of which $967 million consisted of loans made under the Payroll Protection Program.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210505005017/en/

FAQ

What is the date of the stock split for FHBI?

The stock split for FHBI is effective on May 10, 2021.

What is the dividend amount declared by BayFirst Financial Corp.?

BayFirst Financial Corp. declared a cash dividend of 7 cents per common share.

When is the dividend payout date for FHBI?

The dividend payout date for FHBI is June 15, 2021.

How long has BayFirst Financial Corp. been paying dividends?

BayFirst Financial Corp. has paid cash dividends for 20 consecutive quarters.

What are the total assets of BayFirst Financial Corp. as of March 31, 2021?

As of March 31, 2021, BayFirst Financial Corp. reported total assets of $1.7 billion.