The increase in earnings from continuing operations during the third quarter of 2022, compared to the second quarter of 2022, included an increase in interest income of
“The third quarter represented a significant transition for BayFirst as we exited our national mortgage lending business to focus our efforts on building the premier bank of
“In addition to improved core operating results from continuing operations, we benefited from strong loan production from community banking and SBA lending. Loans held for investment excluding PPP loans were up 7.9% during the quarter, and 31.6% compared to a year ago, with the growth well diversified across all of our loan categories. SBA lending through our CreditBench division has grown substantially, surpassing last quarter’s record levels, with SBA loan production of
“While other financial institutions in our markets are closing banking centers, we continue to grow our community bank, opening our eighth banking center in
Third Quarter 2022 Performance Review
- The Company’s SBA loan origination platform, CreditBench, originated
$139.2 million in new SBA loans during the third quarter of 2022, a 54.7% increase compared to$90.0 million originated in the second quarter of 2022, and a 194.6% increase over$47.3 million of loans produced during the third quarter of 2021. Late in the second quarter, the Company launched BOLT, an SBA 7(a) loan product designed to expeditiously provide working capital loans of$150 thousand or less to businesses throughout the country. During the third quarter, the Company originated 425 BOLT loans totaling$55.9 million . - Loans held for investment, excluding PPP loans, increased by
$48.1 million or 7.9% to$658.7 million during the third quarter of 2022 and$158.0 million , or 31.6% over the past year. Production during the quarter was partially offset by$124.4 million in sales of principal balances of SBA loans. - The Residential Mortgage Division originated
$245.4 million in loans during the third quarter of 2022, a reduction of 19.7% compared to$305.6 million originated during the second quarter of 2022, and a 49.2% reduction compared to$506.7 million of loans produced during the third quarter of 2021. - Deposits increased by
$20.3 million , or 2.7% during the third quarter of 2022 and increased by$110.7 million , or 16.4% over the past year to$785.7 million atSeptember 30, 2022 . During the third quarter of 2022, there were increases in time deposit balances of$75.9 million partially offset by decreases in money market and savings account balances of$51.8 million . - Tangible book value at
September 30, 2022 was$20.10 per common share, down from$20.80 atJune 30, 2022 , primarily due to the net loss and the increase in accumulated other comprehensive loss. Over the course of the past year, tangible book value decreased$1.20 per common share, or 5.6%, from$21.30 atSeptember 30, 2021 . - Net interest margin including discontinued operations expanded 90 bps to 4.63% in the third quarter of 2022, from 3.73% in the second quarter of 2022.
Results of Operations
Net Income (Loss)
Net loss was
In the first nine months of 2022, the net loss was
Net Interest Income and Net Interest Margin
Net interest income from continuing operations was
Net interest income from continuing operations was
Net interest margin including discontinued operations improved to 4.63% for the third quarter of 2022, which represented increases of 90 basis points, compared to 3.73% from the preceding quarter and 159 basis points compared to 3.04% from the same quarter last year. Net interest margin including discontinued operations improved to 3.90% for the first nine months of 2022, compared to 3.26% for the first nine months of 2021. With recent rate increases, the Company anticipates further improvement in its net interest margin as its SBA loan portfolio rates are tied to the prime lending rate with the vast majority resetting at the beginning of each calendar quarter.
Noninterest Income
Noninterest income from continuing operations was
Noninterest income from continuing operations was
Noninterest Expense
Noninterest expense from continuing operations was
Noninterest expense from continuing operations was
Discontinued Operations
Net loss on discontinued operations was
Net loss from discontinued operations was
Balance Sheet
Assets
Total assets increased
Loans
Loans held for investment, excluding PPP loans, increased
Deposits
Deposits increased
Asset Quality
Asset quality remained stable in the third quarter of 2022. As the financial impact of the COVID-19 pandemic became more predictable throughout 2021 and 2022, the Company began adjusting downward its allowance for loan losses from the historic high levels reached in 2020 at the onset of the pandemic. The Company recorded a provision for loan losses in the third quarter of
The ratio of the allowance for loan losses to total loans held for investment at amortized cost, excluding government guaranteed loans, was 1.90% at
Over the past five years, the Company’s loan losses have been incurred primarily in its SBA unguaranteed loan portfolio, particularly loans originated under the SBA 7(a) Small Loan Program. The Small Loan Program represents loans of
Net charge-offs for the third quarter of 2022 were
Capital
The Bank’s Tier 1 leverage ratio was 10.48% as of
Recent Events
Fourth Quarter Common Stock Dividend. On
About
Forward Looking Statements
In addition to the historical information contained herein, this presentation includes "forward-looking statements" within the meaning of such term in the Private Securities Litigation Reform Act of 1995. These statements are subject to many risks and uncertainties, including, but not limited to, the effects of the COVID-19 pandemic, global military hostilities, or climate change, including their effects on the economic environment, our customers and our operations, as well as any changes to federal, state or local government laws, regulations or orders in connection with them; the ability of the Company to implement its strategy and expand its banking operations; changes in interest rates and other general economic, business and political conditions, including changes in the financial markets; changes in business plans as circumstances warrant; risks related to mergers and acquisitions; changes in benchmark interest rates used to price loans and deposits, changes in tax laws, regulations and guidance; and other risks detailed from time to time in filings made by the Company with the
SELECTED FINANCIAL DATA (Unaudited)
At or for the three months ended | |||||||||||||||||||
(Dollars in thousands, except for share data) | |||||||||||||||||||
Balance sheet data: | |||||||||||||||||||
Average loans held for investment, excluding PPP loans | $ | 663,716 | $ | 561,455 | $ | 520,559 | $ | 518,697 | $ | 467,283 | |||||||||
Average total assets | 939,847 | 879,868 | 872,311 | 923,485 | 1,086,377 | ||||||||||||||
Average common shareholders’ equity | 83,014 | 83,235 | 83,990 | 83,056 | 81,989 | ||||||||||||||
Total loans held for investment | 680,805 | 641,737 | 561,797 | 583,948 | 656,294 | ||||||||||||||
Total loans held for investment, excluding PPP loans | 658,669 | 610,527 | 517,434 | 504,525 | 500,647 | ||||||||||||||
Total loans held for investment, excl gov’t gtd loan balances | 520,408 | 458,624 | 374,353 | 332,977 | 316,528 | ||||||||||||||
Allowance for loan losses | 9,739 | 9,564 | 10,170 | 13,452 | 16,616 | ||||||||||||||
Total assets | 930,275 | 921,377 | 888,541 | 917,095 | 943,743 | ||||||||||||||
Common shareholders’ equity | 81,032 | 83,690 | 85,274 | 86,685 | 83,593 | ||||||||||||||
Share data: | |||||||||||||||||||
Basic earnings per common share | $ | (0.40 | ) | $ | (0.12 | ) | $ | (0.05 | ) | $ | 0.66 | $ | 0.26 | ||||||
Diluted earnings per common share | (0.35 | ) | (0.10 | ) | (0.05 | ) | 0.61 | 0.26 | |||||||||||
Dividends per common share | 0.08 | 0.08 | 0.08 | 0.07 | 0.07 | ||||||||||||||
Book value per common share | 20.10 | 20.82 | 21.25 | 21.77 | 21.32 | ||||||||||||||
Tangible book value per common share (1) | 20.10 | 20.80 | 21.22 | 21.75 | 21.30 | ||||||||||||||
Performance and capital ratios: | |||||||||||||||||||
Return on average assets | (0.60 | (0.13 | 0.01 | % | 1.22 | % | 0.47 | % | |||||||||||
Return on average common equity | (7.76 | )% | (2.35 | )% | (0.93 | )% | 12.54 | % | 5.12 | % | |||||||||
Net interest margin | 4.63 | % | 3.73 | % | 3.25 | % | 3.07 | % | 3.04 | % | |||||||||
Dividend payout ratio | (20.02 | )% | (65.54 | )% | (164.25 | )% | 10.65 | % | 26.09 | % | |||||||||
Asset quality ratios: | |||||||||||||||||||
Net charge-offs | $ | 575 | $ | 856 | $ | 882 | $ | 664 | $ | 1,181 | |||||||||
Net charge-offs/avg loans held for investment excl PPP | 0.35 | % | 0.61 | % | 0.68 | % | 0.51 | % | 1.01 | % | |||||||||
Nonperforming loans | $ | 10,267 | $ | 10,437 | $ | 8,834 | $ | 11,909 | $ | 10,495 | |||||||||
Nonperforming loans (excluding gov't gtd balance) | $ | 4,015 | $ | 4,245 | $ | 2,660 | $ | 3,967 | $ | 3,756 | |||||||||
Nonperforming loans/total loans held for investment | 1.51 | % | 1.63 | % | 1.57 | % | 2.04 | % | 1.60 | % | |||||||||
Nonperforming loans (excl gov’t gtd balance)/total loans held for investment | 0.59 | % | 0.66 | % | 0.47 | % | 0.68 | % | 0.57 | % | |||||||||
ALLL/Total loans held for investment at amortized cost | 1.48 | % | 1.62 | % | 1.84 | % | 2.34 | % | 2.57 | % | |||||||||
ALLL/Total loans held for investment at amortized cost, excl PPP loans | 1.54 | % | 1.71 | % | 2.00 | % | 2.72 | % | 3.39 | % | |||||||||
Other Data: | |||||||||||||||||||
Full-time equivalent employees(2) | 524 | 485 | 575 | 637 | 651 | ||||||||||||||
Banking center offices | 8 | 7 | 7 | 7 | 6 | ||||||||||||||
Loan production offices(3) | 20 | 19 | 20 | 17 | 22 | ||||||||||||||
(1) See section entitled "GAAP Reconciliation and Management Explanation of Non-GAAP Financial Measures" below for a reconciliation to most comparable GAAP equivalent. | |||||||||||||||||||
(2) Included 254 FTE from discontinued operations as of | |||||||||||||||||||
(3) As of |
GAAP Reconciliation and Management Explanation of Non-GAAP Financial Measures
Some of the financial measures included in this report are not measures of financial condition or performance recognized by GAAP. These non-GAAP financial measures include tangible common shareholders' equity and tangible book value per common share. Our management uses these non-GAAP financial measures in its analysis of our performance, and we believe that providing this information to financial analysts and investors allows them to evaluate capital adequacy.
The following presents these non-GAAP financial measures along with their most directly comparable financial measures calculated in accordance with GAAP:
Tangible Common Shareholders' Equity and Tangible Book Value Per Common Share | ||||||||||||||||||||
As of | ||||||||||||||||||||
(Dollars in thousands, except per share data) | 2022 | 2022 | 2022 | 2021 | 2021 | |||||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||||||
Total shareholders’ equity | $ | 90,637 | $ | 93,295 | $ | 94,879 | $ | 96,290 | $ | 94,298 | ||||||||||
Less: Preferred stock liquidation preference | (9,605 | ) | (9,605 | ) | (9,605 | ) | (9,605 | ) | (10,705 | ) | ||||||||||
Total equity available to common shareholders | 81,032 | 83,690 | 85,274 | 86,685 | 83,593 | |||||||||||||||
Less: | — | (100 | ) | (100 | ) | (100 | ) | (100 | ) | |||||||||||
Tangible common shareholders' equity | $ | 81,032 | $ | 83,590 | $ | 85,174 | $ | 86,585 | $ | 83,493 | ||||||||||
Common shares outstanding | 4,031,937 | 4,019,023 | 4,013,173 | 3,981,117 | 3,919,977 | |||||||||||||||
Tangible book value per common share | $ | 20.10 | $ | 20.80 | $ | 21.22 | $ | 21.75 | $ | 21.30 |
CONSOLIDATED BALANCE SHEETS
(Dollars in thousands) | |||||||||
Assets | Unaudited | Unaudited | Unaudited | ||||||
Cash and due from banks | $ | 3,131 | $ | 2,944 | $ | 2,715 | |||
Interest-bearing deposits in banks | 33,365 | 64,992 | 104,382 | ||||||
Cash and cash equivalents | 36,496 | 67,936 | 107,097 | ||||||
Time deposits in banks | 4,881 | 4,881 | 2,381 | ||||||
Investment securities available for sale | 42,915 | 45,283 | 32,535 | ||||||
Investment securities held to maturity | 5,008 | 5,016 | 3 | ||||||
Restricted equity securities, at cost | 2,531 | 3,274 | 2,827 | ||||||
SBA loans held for sale | 573 | — | — | ||||||
SBA loans held for investment, at fair value | 24,965 | 52,209 | 9,805 | ||||||
Loans held for investment, at amortized cost net of allowance for loan losses of | 646,101 | 579,964 | 629,873 | ||||||
Accrued interest receivable | 3,789 | 3,172 | 4,275 | ||||||
Premises and equipment, net | 32,779 | 31,058 | 23,988 | ||||||
Loan servicing rights | 9,932 | 7,760 | 5,933 | ||||||
Deferred income tax assets | 1,937 | 1,345 | 1,263 | ||||||
Right-of-use operating lease assets | 2,985 | 2,975 | 3,387 | ||||||
Bank owned life insurance | 25,004 | 24,850 | 12,434 | ||||||
Other assets | 13,632 | 13,472 | 11,774 | ||||||
Assets from discontinued operations | 76,747 | 78,182 | 96,168 | ||||||
Total assets | $ | 930,275 | $ | 921,377 | $ | 943,743 | |||
Liabilities: | |||||||||
Noninterest-bearing deposits | $ | 104,215 | $ | 103,613 | $ | 87,625 | |||
Interest-bearing transaction accounts | 190,985 | 195,386 | 157,304 | ||||||
Savings and money market deposits | 380,576 | 432,369 | 377,452 | ||||||
Time deposits | 109,960 | 34,038 | 52,653 | ||||||
Total deposits | 785,736 | 765,406 | 675,034 | ||||||
FHLB and FRB borrowings | 28,000 | 40,000 | — | ||||||
Subordinated debentures | 5,990 | 5,989 | 5,983 | ||||||
Notes payable | 2,958 | 3,072 | 3,413 | ||||||
PPP Liquidity Facility | — | — | 144,601 | ||||||
Accrued interest payable | 236 | 31 | 562 | ||||||
Operating lease liabilities | 3,355 | 3,116 | 3,551 | ||||||
Accrued expenses and other liabilities | 9,374 | 7,290 | 9,643 | ||||||
Liabilities from discontinued operations | 3,989 | 3,178 | 6,658 | ||||||
Total liabilities | 839,638 | 828,082 | 849,445 | ||||||
Shareholders’ equity: | |||||||||
Preferred stock, Series A; no par value, 10,000 shares authorized, 6,395 shares issued and outstanding at | 6,161 | 6,161 | 6,161 | ||||||
Preferred stock, Series B; no par value, 20,000 shares authorized, 3,210, 3,210, and 4,310 shares issued and outstanding at | 3,123 | 3,123 | 4,193 | ||||||
Common stock and additional paid-in capital; no par value, 15,000,000 shares authorized, 4,031,937, 4,019,023, and 3,919,977 shares issued and outstanding at | 52,770 | 52,432 | 50,546 | ||||||
Accumulated other comprehensive (loss), net | (3,780 | ) | (2,574 | ) | (201 | ) | |||
Unearned compensation | (323 | ) | (467 | ) | (23 | ) | |||
Retained earnings | 32,686 | 34,620 | 33,622 | ||||||
Total shareholders’ equity | 90,637 | 93,295 | 94,298 | ||||||
Total liabilities and shareholders’ equity | $ | 930,275 | $ | 921,377 | $ | 943,743 |
CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
For the Quarter Ended | Year-to-Date | ||||||||||||||||||
(Dollars in thousands, except per share data) | |||||||||||||||||||
Interest income: | |||||||||||||||||||
Loans, other than PPP | $ | 10,510 | $ | 7,057 | $ | 6,263 | $ | 23,945 | $ | 17,584 | |||||||||
PPP loan interest income | 70 | 87 | 692 | 297 | 4,751 | ||||||||||||||
PPP origination fee income | 70 | 200 | 1,662 | 570 | 13,909 | ||||||||||||||
Interest-bearing deposits in banks and other | 634 | 415 | 188 | 1,234 | 420 | ||||||||||||||
Total interest income | 11,284 | 7,759 | 8,805 | 26,046 | 36,664 | ||||||||||||||
Interest expense: | |||||||||||||||||||
Deposits | 1,856 | 1,060 | 1,152 | 4,133 | 3,666 | ||||||||||||||
PPPLF borrowings | — | — | 278 | 20 | 1,699 | ||||||||||||||
Other | 258 | 112 | 99 | 467 | 519 | ||||||||||||||
Total interest expense | 2,114 | 1,172 | 1,529 | 4,620 | 5,884 | ||||||||||||||
Net interest income | 9,170 | 6,587 | 7,276 | 21,426 | 30,780 | ||||||||||||||
Provision for loan losses | 750 | 250 | (3,000 | ) | (1,400 | ) | (1,000 | ) | |||||||||||
Net interest income after provision for loan losses | 8,420 | 6,337 | 10,276 | 22,826 | 31,780 | ||||||||||||||
Noninterest income: | |||||||||||||||||||
Loan servicing income, net | 620 | 433 | 412 | 1,508 | 1,441 | ||||||||||||||
Gain (loss) on sale of SBA loans, net | 7,446 | 3,848 | (338 | ) | 15,915 | 13,460 | |||||||||||||
Service charges and fees | 347 | 322 | 261 | 951 | 730 | ||||||||||||||
SBA loan fair value (loss) gain | 999 | 2,708 | 72 | 3,510 | 151 | ||||||||||||||
Other noninterest income | 392 | 367 | 203 | 1,262 | 595 | ||||||||||||||
Total noninterest income | 9,804 | 7,678 | 610 | 23,146 | 16,377 | ||||||||||||||
Noninterest Expense: | |||||||||||||||||||
Salaries and benefits | 6,758 | 6,870 | 6,481 | 21,177 | 18,047 | ||||||||||||||
Bonus, commissions, and incentives | 883 | 573 | 414 | 1,833 | 2,376 | ||||||||||||||
Occupancy and equipment | 1,070 | 973 | 790 | 3,010 | 2,362 | ||||||||||||||
Data processing | 1,247 | 1,083 | 1,047 | 3,486 | 4,266 | ||||||||||||||
Marketing and business development | 662 | 750 | 693 | 2,100 | 1,727 | ||||||||||||||
Professional services | 956 | 979 | 1,267 | 3,089 | 2,554 | ||||||||||||||
Loan origination and collection | 1,068 | 748 | 683 | 2,486 | 2,284 | ||||||||||||||
Employee recruiting and development | 518 | 532 | 441 | 1,653 | 1,213 | ||||||||||||||
Regulatory assessments | 110 | 121 | 138 | 299 | 340 | ||||||||||||||
Other noninterest expense | 886 | 1,063 | 612 | 2,586 | 1,847 | ||||||||||||||
Total noninterest expense | 14,158 | 13,692 | 12,566 | 41,719 | 37,016 | ||||||||||||||
Income/(loss) before taxes from continuing operations | 4,066 | 323 | (1,680 | ) | 4,253 | 11,141 | |||||||||||||
Income tax expense/(benefit) from continuing operations | 983 | (68 | ) | (362 | ) | 888 | 2,968 | ||||||||||||
Net income/(loss) from continuing operations | 3,083 | 391 | (1,318 | ) | 3,365 | 8,173 | |||||||||||||
(Loss)/income from discontinued operations before income taxes | (5,973 | ) | (896 | ) | 3,459 | (6,706 | ) | 18,154 | |||||||||||
Income tax (benefit)/expense from discontinued operations | (1,488 | ) | (223 | ) | 861 | (1,670 | ) | 4,520 | |||||||||||
Net (loss)/income from discontinued operations | (4,485 | ) | (673 | ) | 2,598 | (5,036 | ) | 13,634 | |||||||||||
Net income/(loss) | (1,402 | ) | (282 | ) | 1,280 | (1,671 | ) | 21,807 | |||||||||||
Preferred dividends | 208 | 208 | 230 | 624 | 797 | ||||||||||||||
Net income available to/(loss attributable to) common shareholders | $ | (1,610 | ) | $ | (490 | ) | $ | 1,050 | $ | (2,295 | ) | $ | 21,010 | ||||||
Basic earnings (loss) per common share: | |||||||||||||||||||
Continuing operations | $ | 0.71 | $ | 0.05 | $ | (0.40 | ) | $ | 0.68 | $ | 1.97 | ||||||||
Discontinued operations | (1.11 | ) | (0.17 | ) | 0.66 | (1.25 | ) | 3.63 | |||||||||||
Basic earnings per common share | $ | (0.40 | ) | $ | (0.12 | ) | $ | 0.26 | $ | (0.57 | ) | $ | 5.60 | ||||||
Diluted earnings (loss) per common share: | |||||||||||||||||||
Continuing operations | $ | 0.68 | $ | 0.06 | $ | (0.40 | ) | $ | 0.67 | $ | 1.86 | ||||||||
Discontinued operations | (1.03 | ) | (0.16 | ) | 0.66 | (1.15 | ) | 3.27 | |||||||||||
Diluted earnings per common share | $ | (0.35 | ) | $ | (0.10 | ) | $ | 0.26 | $ | (0.48 | ) | $ | 5.13 |
Loan Composition
(Dollars in thousands) | |||||||||||||||||||
Real estate: | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |||||||||||||||
Residential | $ | 176,574 | $ | 122,403 | $ | 102,897 | $ | 87,235 | $ | 79,889 | |||||||||
Commercial | 220,210 | 216,067 | 189,684 | 163,477 | 151,122 | ||||||||||||||
Construction and land | 9,259 | 9,686 | 18,038 | 18,632 | 17,848 | ||||||||||||||
Commercial and industrial | 183,631 | 168,990 | 180,163 | 217,155 | 232,416 | ||||||||||||||
Commercial and industrial - PPP | 22,286 | 31,430 | 44,792 | 80,158 | 156,783 | ||||||||||||||
Consumer and other | 37,595 | 35,845 | 13,502 | 3,581 | 4,910 | ||||||||||||||
Loans held for investment, at amortized cost, gross | 649,555 | 584,421 | 549,076 | 570,238 | 642,968 | ||||||||||||||
Deferred loan costs (fees), net | 9,047 | 7,629 | 7,297 | 7,975 | 7,298 | ||||||||||||||
Discount on SBA 7(a) loans sold | (5,068 | ) | (4,743 | ) | (4,624 | ) | (3,866 | ) | (3,753 | ) | |||||||||
Premium/(discount) on loans purchased | 2,306 | 2,221 | 1,279 | (13 | ) | (24 | ) | ||||||||||||
Allowance for loan losses | (9,739 | ) | (9,564 | ) | (10,170 | ) | (13,452 | ) | (16,616 | ) | |||||||||
Loans held for investment, at amortized cost | $ | 646,101 | $ | 579,964 | $ | 542,858 | $ | 560,882 | $ | 629,873 |
Nonperforming Assets (Unaudited)
(Dollars in thousands) | |||||||||||||||||||
Nonperforming loans (government guaranteed balances) | $ | 6,252 | $ | 6,192 | $ | 6,174 | $ | 7,942 | $ | 6,739 | |||||||||
Nonperforming loans (unguaranteed balances) | 4,015 | 4,245 | 2,660 | 3,967 | 3,756 | ||||||||||||||
Total nonperforming loans | 10,267 | 10,437 | 8,834 | 11,909 | 10,495 | ||||||||||||||
OREO | 56 | 56 | 3 | 3 | 3 | ||||||||||||||
Total nonperforming assets | $ | 10,323 | $ | 10,493 | $ | 8,837 | $ | 11,912 | $ | 10,498 | |||||||||
Nonperforming loans as a percentage of total loans held for investment | 1.51 | % | 1.63 | % | 1.57 | % | 2.04 | % | 1.60 | % | |||||||||
Nonperforming loans (excluding government guaranteed balances) to total loans held for investment | 0.59 | % | 0.66 | % | 0.47 | % | 0.68 | % | 0.57 | % | |||||||||
Nonperforming assets as a percentage of total assets | 1.11 | % | 1.14 | % | 0.99 | % | 1.30 | % | 1.11 | % | |||||||||
Nonperforming assets (excluding government guaranteed balances) to total assets | 0.44 | % | 0.47 | % | 0.30 | % | 0.43 | % | 0.40 | % | |||||||||
ALLL to nonperforming loans | 94.86 | % | 91.64 | % | 115.12 | % | 112.96 | % | 158.32 | % | |||||||||
ALLL to nonperforming loans (excluding government guaranteed balances) | 242.57 | % | 225.30 | % | 382.33 | % | 339.10 | % | 442.39 | % |
Contacts: Chief Executive Officer 727.399.5678 | Chief Financial Officer 727.685.2082 |
Source:
2022 GlobeNewswire, Inc., source