BayFirst Financial Corp. Reports Second Quarter 2024 Results; Highlighted by Improved Operating Efficiencies and Lower Net Charge-Offs

ST. PETERSBURG, Fla., July 25, 2024 (GLOBE NEWSWIRE) -- BayFirst Financial Corp. (NASDAQ: BAFN) (“BayFirst” or the “Company”), parent company of BayFirst National Bank (the “Bank”) today reported net income of $0.9 million, or $0.12 per diluted common share, for the second quarter of 2024, an increase of 5.1% compared to $0.8 million, or $0.11 per diluted common share, in the first quarter of 2024. Net income increased due to higher net interest income and lower provision for credit losses and compensation expense, partially offset by lower gain on sale of government guaranteed loans resulting from a decrease in balance of loans sold.

Read more at globenewswire.com