# BayFirst Posts 4.07% Net Interest Margin as It Works Toward Profit

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/45034
Published: 2026-10-30T18:55:45.000Z
Updated: 2026-10-30T18:55:45.000Z
Section: Business

> CEO Alfred Rogers reiterated the bank’s community banking shift as management cited loan and deposit growth and said earnings, credit and funding costs remain priorities.

BayFirst Financial Corp. (BAFN) posted a 4.07% net interest margin in the third quarter of 2026 as it continued its shift toward core community banking. BayFirst CEO Alfred Rogers reiterated that direction, while management said the bank still needs to improve earnings to reach positive results in the near term.

Management cited growth in community bank loans and deposits as signs of balance-sheet momentum. It identified deposit mix and the cost of funds as priorities.

Most of the bank’s third-quarter net charge-offs came from its unguaranteed SBA 7(a) portfolio. Management said runoff in the portfolio had stabilized and hoped charge-off trends would moderate. More than $30 million of BayFirst’s $41.5 million allowance covered the portfolio.

BayFirst management is evaluating expense reductions, technology investments and process improvements.