BayFirst Financial Corp. (BAFN) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone. Thank you for joining us, and welcome to the BayFirst Financial Corp. Q2 twenty twenty six Conference Call and Webcast. After today's prepared remarks, we will host a question and answer session. Will now hand the conference over to Al Rogers, President and CEO. Al, please go ahead. 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 two of the investor presentation. My first full quarter as CEO with BayFirst has been very busy. We set to work on a number of initiatives, both short and longer term. The substantial $80,000,000 capital raise at the end of April was the first and was the 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 seven 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 12/31/2024 12/31/2025 and the quarter ended 03/31/2026. The amended 10 ks 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 company obtained shareholder approval to amend BayFirst Financial Corporation's Articles of Incorporation to increase the number of authorized shares of common stock from $15,000,000 to 100,000,000 and exchanged all 4,000 outstanding shares of mandatorily convertible cumulative perpetu...