Material weakness
high
Filing comparison
BayFirst Financial Corp. reported a material weakness in internal control
Internal control reported effective → Material weakness in internal control
Based on that evaluation, management concluded that our internal control over financial reporting was not effective as of December 31, 2025 due to the material weakness described below. We identified a material weakness in our internal control over financial reporting related to operating effectiveness of control activities and monitoring of how loans are placed in nonaccrual status and charged off as well as how origination costs are recognized on loans after a portion of the loan has been sold and the resulting…
Evidence
- Current state
- material_weakness
- Current state label
- Material weakness in internal control
- Direction
- newly reported
- Prior filed
- 2026-03-27
- Prior form
- 10-K
- Prior state
- effective
- Prior state label
- Internal control reported effective
- Remediation stated
- Yes
- Severity
- high
- Source
- Item 9A internal control conclusion, compared with the prior filing
- Why
- The company's conclusion on internal control over financial reporting changed: a material weakness was newly reported, or a previously reported one no longer appears.