ST. PETERSBURG, Fla., September 14, 2021 (GLOBE NEWSWIRE) – BayFirst Financial Corp. (f / k / a First Home Bancorp, Inc.) (OTCQX: FHBI) (âBayFirstâ or the âCompanyâ), parent company of First Home Bank, today announced that its board of directors has amended its share repurchase program, initially authorized on January 26, 2021 for the repurchase of a maximum of $ 100,000 per calendar quarter of the issued and outstanding common shares of the Company, in order to allow the Company to repurchase up to $ 400,000 per quarter.
The changes to the program will be implemented in the third quarter of 2021 and will continue until the date closest to the date on which a total of $ 1,000,000 of common shares was repurchased, with a maximum of 400 $ 000 redeemed in one quarter, or October 1. 2022, i.e. the end of the program by the board of directors.
In addition to the increase in the amount that can be repurchased under the plan, the share repurchase program has also been modified to allow the company to withdraw the common shares repurchased under the program or to distribute the repurchased shares. through the Company’s dividend reinvestment and stock purchase plan. , Employee share ownership plan or Unqualified stock purchase plan. Any redeemed shares that are withdrawn will be held as unissued shares available for use and reissue for purposes as determined by the board of directors.
BayFirst Financial Corp. trades on OTCQX under the symbol “FHBI”. US investors can find current financial information and real-time Level 2 quotes for the bank at www.otcmarkets.com.
About BayFirst Financial Corp.
BayFirst Financial Corp. (f / k / a First Home Bancorp, Inc.) is a registered bank holding company that began operations on September 1, 2000. Its primary source of income is from its wholly owned subsidiary, First Home Bank, which began operations trading on February 12, 1999. First Home Bank is a member of the Federal Reserve and a state chartered banking institution. The bank operates six full-service offices, 26 mortgage production offices and ranks among the top 50 in dollar volume and the top 20 in unit count of SBA lenders nationwide.
BayFirst Financial Corp., through the Bank, offers a wide range of commercial and personal banking services, including various types of deposit accounts and loans for businesses and individuals. As of June 30, 2021, BayFirst Financial Corp. had total assets of $ 1.20 billion, of which $ 430 million was made up of loans made under the Paycheck Protection Program.
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as âmayâ, âcouldâ, âshouldâ, âshouldâ, âbelieveâ, âanticipateâ, “” Estimate “,” expect “,” intend “,” plan “,” project “,” be convinced that “and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve risks and uncertainties and various factors could cause our actual results and experience to differ materially from the anticipated results or other expectations expressed in these forward-looking statements. BayFirst Financial Corp. does not have a policy of updating or revising forward-looking statements, except as otherwise required by law, and management’s silence over time should not be taken to mean that actual events occur as estimated in these forward-looking statements.
|Anthony N. Leo||Jeffrey M. Hunt|
|Chief Executive Officer||Chief Strategy Officer|