Layoffs at St. Pete bank grow to 78 as company cuts Maryland jobs

Days after cutting nearly 60 jobs in Clearwater, BayFirst Financial is laying off an additional 20 employees in a Maryland office.

The job cuts, according to a letter provided to the state and which mirrors the previous notification, are due to the company’s decision to discontinue its national mortgage division because of a “continuing decline in mortgage volume leading to division losses, along with the uncertainty of the outlook of mortgage lending in the near- to mid-term.”