BayFirst Financial Corp. announced the closing of a $94.6 million loan sale to Banesco USA.
The sale is part of a strategic review to derisk SBA 7(a) balances and drive long-term growth.
The transaction will enhance shareholder value and strengthen the company's financial ratios.
Loan Sale to Banesco USA
$94.6 million of loans were sold to Banesco USA to derisk SBA 7(a) balances.
Proforma Capital Ratio
After the sale, the Bank's total capital ratio improves to 10.1%.
Strategic Focus
BayFirst exits the SBA 7(a) lending business, focusing on community banking.
- The sale improves the company's financial health and positions it for future growth.
- The relationship with Banesco USA creates opportunities for portfolio expansion and fee income growth.
BayFirst Financial Corp.'s loan sale marks a strategic move to strengthen its financial position and drive long-term growth in the community banking sector.