BayFirst Q2 FY26 net loss widens to $32.7 million; net interest margin falls 53 bps to 3.48% vs year-ago quarter
BAFN•Margin, loans and deposits moved lower
GAAP net interest margin edged up 4 basis points sequentially to 3.48%, down 53 basis points from a year earlier.
Loans held for investment fell 4.5% from Q1 to $882.8 million; deposits slid 8.9% to $988.9 million.
Book value per share dropped to $4.83 from $14.22; management said the plan aims to strengthen the balance sheet.
Q2 loss widens on asset resolution plan expenses
BayFirst Financial posted a GAAP net loss of $32.7 million, or $8.05 per share, versus a GAAP net loss of $5.9 million in Q1.
Results reflected $41.5 million of asset resolution plan expenses, including provision expense, loan fair-value write-downs, and securities impairment.
