• BayFirst Financial first-quarter 2026 earnings call featured Independent Chairman Anthony Saravanos, CEO and President of BayFirst National Bank Alfred Rogers, President and COO Robin L. Oliver, EVP and CFO Scott J. McKim.
• $80 million PIPE in convertible preferred stock set to convert or be exchanged for about 22,900,000 common shares at effective price of $3.5; rights offering announced, special shareholder meeting set for July 14.
• Net loss USD 5.7 million; loans held for investment fell USD 33.5 million sequentially to USD 930.4 million, deposits fell USD 98 million to USD 1.09 billion as bank exited high-rate promotional and brokered balances.
• Credit costs stayed elevated, with USD 3.1 million provision and USD 4.4 million net charge-offs, including USD 3.4 million tied to unguaranteed SBA 7(a); unguaranteed SBA 7(a) balances were USD 159.3 million.
• Management flagged focus on working down legacy SBA 7(a) problem assets, returning to profitability, then deepening local relationships; CFO said about USD 100 million of unguaranteed portfolio components were reserved at about 13% and largely unsecured, likening performance to small business credit cards.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Bayfirst Financial Corp. published the original content used to generate this news brief on May 11, 2026, and is solely responsible for the information contained therein.