BayFirst Financial Corp.

BayFirst Financial Corp. (BAFN) is holding a Special Meeting of Shareholders on July 14, 2026, to vote on three proposals critical to its recent $80 million capital raise. The raise, which closed on April 28, 2026, involved issuing Series D and E preferred stock to bolster the subsidiary bank's capital and meet regulatory requirements. Shareholders will vote on approving the issuance of common stock upon conversion of these preferred shares, amending the articles of incorporation to increase authorized shares, and potentially adjourning the meeting. The company has faced financial challenges, including net losses in 2025 and Q1 2026, and aims to use the capital to strengthen its platform for growth and return to profitability.

BayFirst Financial Corp. announced the appointment of Alfred T. Rogers, Jr. as its new President and Chief Executive Officer, and as a member of its Board of Directors. This appointment followed the non-objection received from the Federal Reserve Bank of Atlanta on May 14, 2026. Mr. Rogers brings extensive experience, having previously served as CEO of Manufacturers Bank of Florida and leading USAmeriBank's significant growth to over $4.6 billion in assets.

BayFirst Financial Corp. reported a net loss of $5.68 million for the first quarter of 2026, significantly wider than the $0.34 million loss in the same period last year. Basic loss per common share increased to $1.48 from $0.17 year-over-year. The company experienced a substantial decrease in noninterest income, primarily due to a loss on the sale of government-guaranteed loans compared to a significant gain in the prior year. Total assets and deposits also declined from December 31, 2025.

BayFirst Financial Corp. announced a successful $80 million capital raise through a private investment in a public equity offering and a rights offering for existing shareholders. The company also appointed Al Rogers as the new CEO and President of BayFirst National Bank, contingent on regulatory approvals. For Q1 2026, the company reported a net loss of $5.7 million, with loans held for investment decreasing by 3% and deposits by 8%. The new capital is intended to support growth and manage legacy SBA 7(a) portfolio issues, with a focus on community banking in the Tampa Bay and Sarasota markets.

BayFirst Financial Corp. (BAFN) filed an S-1 registration statement for a rights offering of up to 4,108,072 shares of common stock at $3.50 per share, aiming to raise $14.38 million. This follows a recent $80 million private placement of convertible preferred stock at the same effective price. The net proceeds will be used to improve capital levels, fund credit loss allowance, and support growth and profitability. Additionally, Alfred T. Rogers, Jr. was appointed President and CEO of BayFirst National Bank, and is expected to be appointed to the same roles for the holding company.

BayFirst Financial Corp. announced a substantial $80 million capital raise through a private placement of convertible preferred stock, aimed at improving capital levels, restructuring its capital structure, and supporting growth. Concurrently, Alfred Rogers was appointed CEO and President of BayFirst National Bank, and Kenneth R. Lehman joined the Boards of Directors. The company reported a net loss of $5.7 million for Q1 2026, an increase from the previous quarter, with declines in net interest margin, loans, and deposits.

BayFirst Financial Corp. announced it has raised $80 million in a private investment in public equity (PIPE) offering, issuing convertible preferred stock. Concurrently, the company reported a net loss of $5.7 million for the first quarter of 2026, an increase from the $2.5 million loss in the prior quarter. The Board also appointed Alfred Rogers as CEO and President of BayFirst National Bank, replacing retiring Tom Zernick, and Kenneth R. Lehman to the Boards, aiming to leverage the capital raise and new leadership to return to profitability and growth.