Locally owned bank reports second-quarter results

BayFirst National Bank’s total assets rose from $888.54 million to $921.85 million, an increase of 3.75%.

By Business Observer Staff
| 9:05 a.m. July 29, 2022
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BayFirst President Thomas Zernick, COO and CFO Robin Oliver, mascot Cash and CEO Anthony Leo. (Courtesy photo)

Tampa Bay-Lakeland

St. Petersburg-based BayFirst National Bank, formerly known as First Home Bank, saw its total assets increase by 3.75% in the second quarter of 2022, rising from $888.54 million to $921.85 million, according to a news release issued by parent company BayFirst Financial Corp.

Loan production, the release states, was up by 200%, fueled by one of the best quarters for SBA loans in the bank’s history. However, deposits dropped by $4.7 million, or 0.6%, to $765.4 million, driven by decreases in savings and money-market account balances.