No as a reformed baptist I do not believe in baptismal regeneration Neither as you define it, nor as the LCMS defines it.
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Baptismal Regeneration
Q. You teach, as did Martin Luther, that man is justified by grace alone, through faith alone. Yet I also read your position on baptism and it seems to me that you also teach baptismal regeneration. You clearly state that a person (infant) comes into the blessings of grace (salvation) through their baptism. How can this be if the scripture teaches that faith is the means of apprehending salvation? I may simply be misunderstanding what you are saying in the section on baptism, I hope I am. If not, then I must insist that there would then be no difference between the LCMS and the Roman Church on its view of justification and salvation. Please help me understand where I am misunderstanding you.

A. Lutherans believe that the Bible teaches that a person is saved by God's grace alone through faith alone in Jesus Christ. Baptism, we believe, is one of the miraculous means of grace (together with God's written and spoken Word) through which God creates and/or strengthens the gift of faith in a person's heart (see Matt. 28:18-20; Act. 2:38; John 3:5-7; Act. 22:16; 1 Peter 3:21; Titus 3:5-6; Gal. 3:26-27; Rom. 6:1-4; Col. 2:11-12; 1 Cor. 12:13).

Although we do not claim to understand how this happens or how it is possible, we believe (because of what the Bible says about baptism) that when an infant is baptized God creates faith in the heart of that infant. This faith cannot yet, of course, be expressed or articulated, yet it is real and present all the same (see e.g., 1 Peter 2:21; Acts 2:38-39; Titus 3:5-6; Matt. 18:6; Luke 1:15; 2 Tim. 3:15; Gal. 3:26-27; Rom. 6:4; Col. 2:11-12; 1 Cor. 12:13). This faith needs to be fed and nurtured by God's Word (Matt. 28:18-20), or it will die. Those who have been baptized, but who no longer believe, will not be saved. (By the same token, those who truly believe and yet have not had opportunity to be baptized [like, for example, the thief on the cross] will be saved.)
LCMS Baptismal Regeneration
Nor WELS or the ELS But hold to that what has been taught long ago that regeneration is the effectual application of Christ's redemption applied to us by the Holy Spirit. Doctrine of Regeneration Bill Ascol

See also:
Blessings of Grace section 4 J.L Dagg
Regeneration and Conversion by James P. Boyce
Regeneration-outline by Derek Gentle

Peter

If you believe what you like in the gospels, and reject what you don't like, it is not the gospel you believe, but yourself. Augustine of Hippo