Business Context and Reporting Period
Company: BayFirst Financial Corp. (NASDAQ: BAFN)
Filing Type: Form 8-K (Current Report)
Date of Report: July 28, 2026
Context: The Company, parent of BayFirst National Bank, is an emerging growth company. This filing addresses a delay in the reporting of second-quarter 2026 results due to ongoing financial statement restatements and an asset resolution plan.
Key Financial Metrics
This filing does not contain specific financial performance data (revenue, profit, cash flow, margins, debt, or liquidity) for the current or prior periods. The document focuses on procedural updates regarding financial reporting rather than disclosing new financial metrics.
Material Changes and Restatements
- Financial Restatements: The Company announced that consolidated financial statements for the years ended December 31, 2024 and 2025, and the quarter ended March 31, 2026, must be restated.
- Reliance Warning: Previously issued consolidated financial statements and related audit reports for the aforementioned periods should no longer be relied upon.
- Asset Resolution: The restatements are connected to an asset resolution plan implemented and announced in a prior Form 8-K on July 14, 2026.
- Amendments Required: The Company will file amendments to its 2025 Form 10-K and its first quarter 2026 Form 10-Q.
Guidance, Outlook, and Management Commentary
- Earnings Delay: The release of second-quarter 2026 results has been rescheduled to after the market close on August 13, 2026.
- Reason for Delay: Additional time is required to complete procedures related to the earnings release and webcast due to the asset resolution plan and the preparation of the required 10-K and 10-Q amendments.
- Conference Call: Management will host a conference call on Friday, August 14, 2026, at 9:00 a.m. ET to discuss the results.
- Timeline: The Company expects to file the necessary amendments to its 2025 Form 10-K and Q1 2026 Form 10-Q by August 12, 2026.
Investor Verification Checklist
- Verify the filing of amendments to the 2025 Form 10-K and Q1 2026 Form 10-Q by August 12, 2026.
- Review the specific details of the "asset resolution plan" announced on July 14, 2026, to understand the nature of the restatements.
- Monitor the August 13, 2026 earnings release for updated financial figures reflecting the restatements.
- Confirm the status of the independent registered public accounting firm's audit reports for the restated periods.