ST. PETERSBURG, Fla., Nov. 29, 2021 (GLOBE NEWSWIRE) -- BayFirst Financial Corp. (f/k/a First Home Bancorp, Inc.) (OTCQX: FHBI) (“BayFirst” or the “Company”), parent company of First Home Bank, today announced that its common stock will begin trading tomorrow, November 30, 2021, on the Nasdaq Capital Market under the symbol “BAFN”. As a result, BayFirst will become the only Nasdaq-listed bank holding company headquartered on the west coast of Florida and one of only seven in the state.
“BayFirst is a rapidly growing financial institution driven by its commitment to identifying ways to increase its strategic opportunities and establish itself as one of the preeminent companies in the industry,” stated Anthony N. Leo, Chief Executive Officer. “Receiving approval to trade on the Nasdaq Capital Market marks a pivotal moment in our history. It will aid greatly in our efforts to grow our banking franchise, increase our visibility among investors, provide additional liquidity to shareholders, and ultimately stake our claim as the bank of Tampa Bay.”
News of the approval is just the latest in a series of announcements related to BayFirst successes and milestones. Just last month, the Company’s SBA division, CreditBench – which is among the nation’s top SBA lenders – became the No. 1 SBA lender in the Tampa Bay area in fiscal year ending September 30, 2021. In August, the Division also established itself as a leader in minority-owned business lending after reaching an ambitious two-year lending goal of $50 million in less than ten months.
BayFirst’s residential mortgage division also continues to achieve nationwide prominence, having recently surpassed $2 billion in mortgage loans originated in 2021. And, earlier this week, the Company celebrated the ongoing expansion of its banking centers with the opening of a seventh location in Belleair Bluffs, Florida and the groundbreaking of an eighth location in Sarasota, Florida, slated to open in late 2022.
About BayFirst Financial Corp.
BayFirst Financial Corp. (f/k/a First Home Bancorp, Inc.) is a registered bank holding company which commenced operations on September 1, 2000. Its primary source of income is from its wholly owned subsidiary, First Home Bank, which commenced business operations on February 12, 1999. First Home Bank is a Federal Reserve member and a state-chartered banking institution serving the broad spectrum of consumers and small businesses in the Tampa Bay region, supported by national business lines in residential and SBA lending. First Home utilizes these national business lines to provide financial support for the delivery and expansion of traditional banking services, and to serve as specialized lead products to introduce the Bank to new customers in the Tampa Bay region. BayFirst Financial Corp. strives to be a progressive institution in its products & services, technology, design, and social responsibility.
BayFirst Financial Corp., through the bank, offers a broad range of commercial and consumer banking services including various types of deposit accounts and loans for businesses and individuals. As of September 30, 2021, BayFirst Financial Corp. had $943.74 million in total assets.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements preceded by, followed by or including words such as “anticipate,” “intend,” “believe,” “estimate,” “plan,” “seek,” “project” or “expect,” “may,” “will,” “would,” “could,” or “should” and similar expressions. Forward-looking statements represent the Company’s current expectations, plans, or forecasts and involve significant risks and uncertainties. Several important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include, without limitation, current and future economic and market conditions, including those that could impact credit quality and the ability to generate loans and gather deposits; the duration, extent and impact of the COVID-19 pandemic, including governments’ responses to the pandemic and the potential worsening of the pandemic resulting from variants of COVID-19, on our and our customers’ operations, personnel, and business activity (including developments and volatility), as well as COVID-19’s impact on the credit quality of our loan portfolio and financial markets and general economic conditions; the impact of current and future interest rates and expectations concerning the actual timing and amount of interest rate movements; competition; our ability to execute business plans; geopolitical developments; legislative and regulatory developments; inflation or deflation; market fluctuations; natural disasters (including pandemics such as COVID-19); critical accounting estimates; and other factors described in our Form S-1, as amended, and other filings with the Securities and Exchange Commission. The Company disclaims any obligation to update any of the forward-looking statements included herein to reflect future events or developments or changes in expectations, except as may be required by law.
Anthony N. Leo
Jeffrey M. Hunt
Chief Executive Officer
Chief Strategy Officer