BayFirst Financial Corp. (BAFN) Q2 2026 Earnings Call Transcript

Operator

Hello, everyone. Thank you for joining us, and welcome to the BayFirst Financial Corp. Q2 2026 Conference Call and Webcast. [Operator Instructions]

I will now hand the conference over to Al Rogers, President and CEO. Al, please go ahead.

Alfred Rogers
President, CEO & Director

Thank you, Marina. Good morning, and thank you for joining our call today. With me is Scott McKim, our CFO; and Robin Oliver, our COO. Please remember, today’s call will include forward-looking statements and non-GAAP financial measures. Please refer to our cautionary statement on forward-looking statements contained on Page 2 of the investor presentation.

My first full quarter as CEO at BayFirst has been very busy. We set to work on a number of initiatives, both short and longer term. The substantial $80 million capital raise at the end of April was the first and was certainly biggest step for the future of our bank. We completed and deployed our asset resolution plan to address the bank’s legacy credit issues, predominantly related to unguaranteed balances of the SBA 7(a) loans.

During the process of completing the asset resolution plan, our team also identified some material misstatements from prior periods. We have restated financial statements for the years ended December 31, 2024, December 31, 2025, and the quarter ended March 31, 2026. The amended 10-K and 10-Q have been filed this week.

Scott will elaborate on both in a few minutes. We held a special meeting of shareholders on July 14, where the