St. Petersburg bank lays off employees as it cuts loan program

BayFirst National Bank is laying off 52 employees as it cuts its small balance Small Business Administration lending program.

The St. Petersburg community bank notified the state of the job cuts in letter stating that the layoffs are expected to be permanent. The official who signed the letter did not respond to an early morning email Thursday.

According the letter, sent to meet federal Worker Adjustment Retraining and Notification requirements, the layoffs began Monday Aug. 4 and will be completed by Oct. 4.