BayFirst Financial publishes Q3 2026 conference call transcript
BAFN•BayFirst Financial reported a third-quarter 2026 net loss of $677,000, down from $32.7 million in the second quarter. The board voted to redeem Series C preferred shares, and the company ended September with $132.4 million in unguaranteed SBA 7(a) loans.
1. Quarterly results and loans
BayFirst Financial reported a third-quarter 2026 net loss of $677,000, compared with $32.7 million in the second quarter. Net charge-offs declined to $3.2 million from $4.5 million, and provision for credit losses was negative $69,000 versus $29 million. CFO Scott J. McKim expects unguaranteed SBA 7(a) loan runoff near $40 million annually; balances ended September at $132.4 million.
2. Preferred share redemption
The board voted to redeem Series C preferred shares. McKim expects many holders to choose conversion at the last reported tangible book value.
