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BayFirst Financial restates 2024 profit, widens 2025 loss in audited results correction

PUBT·07/15/2026 20:00:23
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BayFirst Financial restates 2024 profit, widens 2025 loss in audited results correction
  • BayFirst disclosed it will restate audited financial statements for 2024-2025 and the first quarter of 2026.
  • Net income for 2024 revised to $11.4 million from $12.6 million; 2025 net loss revised to $24.2 million from $22.9 million.
  • First-quarter net loss revised to $5.9 million from $5.7 million, reflecting corrections tied to non-accrual and defaulted loans.
  • Internal review found $2.8 million in deferred origination costs and $2.1 million in accrued interest, understating provision expense and overstating net interest income.
  • Separate asset-resolution adjustments total $37 million, with a $1.5 million equity investment impairment and a $1.6 million write-down of USDA loan premiums.


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 via GlobeNewswire (Ref. ID: 202607151600PRIMZONEFULLFEED9762909) on July 15, 2026, and is solely responsible for the information contained therein.