BayFirst Financial Discontinues Bolt Loan Program

BayFirst Financial Corp ( (BAFN) ) has shared an update.

On August 4, 2025, BayFirst Financial Corp. announced the immediate discontinuation of its Bolt loan program, an SBA 7(a) loan product designed for small businesses, as part of a strategic review to position the company for long-term growth. This decision includes a workforce reduction of 17%, saving $6 million annually, and involves charge-offs and fair value write-downs on high-risk loans. The company plans to sell the Bolt loan balances and origination platform, while suspending dividend payments and board fees to offset impacts. These changes aim to focus resources on community banking and adapt to the evolving market landscape.

Spark’s Take on BAFN Stock

According to Spark, TipRanks’ AI Analyst, BAFN is a Neutral.

The overall stock score reflects BayFirst Financial’s strong financial management and low P/E valuation, which is offset by technical weaknesses and recent financial challenges. The suspension of dividends and strategic adjustments suggest caution, despite the financial stability indicated by the balance sheet and cash flows.

To see Spark’s full report on BAFN stock, click here.

More about BayFirst Financial Corp

BayFirst Financial Corp., based in St. Petersburg, Florida, is a registered bank holding company that commenced operations on September 1, 2000. Its primary income source is its wholly owned subsidiary, BayFirst National Bank, which operates twelve full-service banking offices throughout the Tampa Bay-Sarasota region. The bank offers a broad range of commercial and consumer banking services and was the 8th largest SBA 7(a) lender by units originated and 18th by dollar volume nationwide as of June 30, 2025.

Average Trading Volume: 12,164

Technical Sentiment Signal: Sell

Current Market Cap: $53.68M

Learn more about BAFN stock on TipRanks’ Stock Analysis page.