B
BayFirst Financial Corp.
Period
FY 2025
Revenue
—
Net Income
$-22.94M
Total Assets
$1.30B
Equity
$87.57M
Shares Out
4.11M
Op. Cash Flow
$285.30M
Business
BayFirst Financial Corp. is a bank holding company operating through its wholly owned subsidiary, BayFirst National Bank, serving consumers and small businesses in the Tampa Bay and Sarasota regions of Florida. The Bank offers community banking services including checking and savings accounts, deposit products, commercial and consumer loans, residential mortgages, and government-guaranteed lending programs (USDA and SBA 504 loans). BayFirst operates twelve banking centers across Pinellas, Hillsborough, Manatee, and Sarasota counties, competing primarily on local market knowledge, personalized service, and the flexibility of independent decision-making.
Summary from 10-K filed 2026-03-27
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Loans, including fees | 81 | 79 | 63 | 36 | 43 | |
| Interest-bearing deposits in banks and other | 5 | 4 | 5 | 2 | 570,000 | |
| Total interest income | 86 | 83 | 69 | 39 | 44 | |
| Deposits | 38 | 43 | 31 | 8 | 5 | |
| Borrowings | 2 | 2 | 1 | 722,000 | 2 | |
| Total interest expense | 40 | 45 | 32 | — | — | |
| Net interest income | 46 | 38 | 36 | 30 | 37 | |
| Provision for credit losses | 25 | 15 | 10 | −700,000 | — | |
| Net interest income after provision for credit losses | 21 | 23 | 26 | 31 | 40 | |
| Loan servicing income, net | 3 | 3 | 3 | 2 | 2 | |
| Gain on sale of government guaranteed loans, net | 12 | 28 | 25 | 22 | 18 | |
| Service charges and fees | 2 | 2 | 2 | 1 | 1 | |
| Government guaranteed loans fair value gain (loss), net | −1 | 10 | 16 | 5 | 184,000 | |
| Government guaranteed loan packaging fees | 2 | 4 | 4 | — | — | |
| Gain on sale of premises and equipment | 0 | 12 | 0 | — | — | |
| Other noninterest income | 1 | 2 | 1 | 2 | 874,000 | |
| Total noninterest income | 18 | 60 | 50 | 32 | 22 | |
| Salaries and benefits | 28 | 31 | 31 | 27 | 25 | |
| Bonus, commissions, and incentives | 855,000 | 4 | 6 | 2 | 3 | |
| Occupancy and equipment | 6 | 5 | 5 | 4 | 3 | |
| Data processing | 8 | 7 | 6 | 5 | 5 | |
| Marketing and business development | 1 | 2 | 3 | 3 | 3 | |
| Professional services | 3 | 4 | 4 | 4 | 4 | |
| Loan servicing and origination expense | 8 | 6 | 7 | 4 | 2 | |
| Employee recruiting and development | 2 | 2 | 2 | 2 | 2 | |
| Regulatory assessments | 2 | 1 | 881,000 | 457,000 | 442,000 | |
| Restructure charges | 7 | 0 | — | — | — | |
| Other noninterest expense | 4 | 4 | 3 | 3 | 2 | |
| Total noninterest expense | 70 | 67 | 68 | 55 | 50 | |
| Income (loss) from continuing operations before income taxes | −31 | 17 | 8 | 7 | 12 | |
| Income tax expense (benefit) from continuing operations | −8 | 4 | 2 | 2 | 3 | |
| Net income (loss) from continuing operations | −23 | 13 | 6 | 5 | 9 | |
| Loss from discontinued operations before income taxes | 0 | −92,000 | −283,000 | −8 | 21 | |
| Income tax benefit from discontinued operations | 0 | −23,000 | −70,000 | −2 | 5 | |
| Net loss from discontinued operations | 0 | −69,000 | −213,000 | −6 | 16 | |
| Net income (loss) | −23 | 13 | 6 | −349,000 | 25 | |
| Preferred stock dividends | 2 | 2 | 965,000 | 832,000 | 1 | |
| Net income available to (loss attributable to) common shareholders | −24 | 11 | 5 | −1 | 24 | |
| Continuing operations (in dollars per share) | −5.93 | 2.69 | 1.21 | 1.16 | 2.11 | |
| Discontinued operations (in dollars per share) | 0 | −0.01 | −0.05 | −1.45 | 4.1 | |
| Total basic earnings (loss) per common share (in dollars per share) | −5.93 | 2.68 | 1.16 | −0.29 | 6.21 | |
| Continuing operations (in dollars per share) | −5.93 | 2.64 | 1.17 | 1.16 | 2.08 | |
| Discontinued operations (in dollars per share) | 0 | −0.02 | −0.05 | −1.38 | 3.83 | |
| Total diluted earnings (loss) per common share (in dollars per share) | −5.93 | 2.62 | 1.12 | −0.22 | 5.91 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and due from banks | 5 | 4 | 4 | 4 | 3 | |
| Interest-bearing deposits in banks | 202 | 73 | 54 | 62 | 107 | |
| Cash and cash equivalents | 207 | 78 | 58 | 66 | 110 | |
| Time deposits in banks | 0 | 2 | 5 | 5 | 2 | |
| Investment securities available for sale, at fair value (amortized cost: $31,974 and $40,279 at December 31, 2025 and December 31, 2024, respectively) | 29 | 36 | 40 | 42 | 31 | |
| Investment securities held to maturity, at amortized cost, net of allowance for credit losses of $7 and $12 (fair value: $2,384 and $2,346 at December 31, 2025 and December 31, 2024, respectively) | 2 | 2 | 2 | 5 | 2,000 | |
| Nonmarketable equity securities | 5 | 5 | 5 | 4 | 3 | |
| Government guaranteed loans HFI, at fair value | 54 | 61 | 92 | 27 | 10 | |
| Loans HFI, at amortized cost | 910 | 1,006 | 824 | — | — | |
| Allowance for credit losses on loans | −22 | −16 | −13 | −12 | 13 | |
| Net loans HFI, at amortized cost | 888 | 990 | 811 | 693 | 561 | |
| Accrued interest receivable | 8 | 9 | 7 | 4 | 4 | |
| Premises and equipment, net | 31 | 33 | 39 | 35 | 29 | |
| Loan servicing rights | 13 | 17 | 15 | 11 | 6 | |
| Deferred income tax asset | 7 | 0 | 0 | 980,000 | 454,000 | |
| Right-of-use operating lease assets | 15 | 16 | 2 | 3 | 3 | |
| Bank owned life insurance | 27 | 27 | 26 | 25 | 25 | |
| Other real estate owned | 400,000 | 132,000 | 0 | — | — | |
| Other assets | 14 | 12 | 16 | 16 | 14 | |
| Total assets | 1,300 | 1,288 | 1,118 | 939 | 917 | |
| Noninterest-bearing deposit accounts | 96 | 102 | 94 | 93 | 84 | |
| Interest-bearing transaction accounts | 231 | 257 | 259 | 203 | 163 | |
| Savings and money market deposit accounts | 455 | 474 | 373 | 363 | — | |
| Time deposits | 402 | 310 | 259 | 136 | 51 | |
| Total deposits | 1,184 | 1,143 | 985 | 795 | 722 | |
| Subordinated notes | 6 | 6 | 6 | 6 | 6 | |
| Notes payable | 2 | 2 | 2 | 3 | 3 | |
| Accrued interest payable | 1 | 1 | 882,000 | 704,000 | 326,000 | |
| Operating lease liabilities | 13 | 15 | 3 | 4 | 3 | |
| Deferred income tax liabilities | 0 | 301,000 | 482,000 | 0 | — | |
| Accrued expenses and other liabilities | 7 | 10 | 9 | 12 | 9 | |
| Total liabilities | 1,213 | 1,177 | 1,017 | 847 | 821 | |
| Common stock and additional paid-in capital; no par value, 15,000,000 shares authorized, 4,108,069 and 4,132,986 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively | 54 | 55 | 55 | 53 | 51 | |
| Accumulated other comprehensive loss, net | −2 | −3 | −3 | −4 | −420,000 | |
| Unearned compensation | −335,000 | −752,000 | −958,000 | −178,000 | −17,000 | |
| Retained earnings | 20 | 44 | 34 | 33 | 36 | |
| Total shareholders equity | 88 | 111 | 101 | 92 | 96 | |
| Total liabilities and shareholders equity | 1,300 | 1,288 | 1,118 | 939 | 917 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation of fixed assets | 2 | 2 | 2 | 2 | 1 | |
| Net securities premium amortization | 40,000 | 112,000 | 95,000 | 122,000 | 102,000 | |
| Amortization of debt issuance costs | 6,000 | 7,000 | 7,000 | 7,000 | 37,000 | |
| Amortization of premium on loans purchased, net | 1 | 714,000 | 591,000 | 199,000 | −84,000 | |
| Accretion of discount on unguaranteed loans | −4 | −3 | −3 | −3 | −2 | |
| Deferred tax benefit | −7 | −189,000 | 2 | 424,000 | 4 | |
| Origination of government guaranteed loans held for sale | 0 | −3 | −4 | −2 | −1 | |
| Proceeds from sales of government guaranteed loans held for sale | 298 | 406 | 484 | 354 | 394 | |
| Sale of servicing rights | 2 | 0 | — | — | — | |
| Amortization of loan servicing rights | 7 | 6 | 5 | 3 | 3 | |
| Gain on other real estate owned | −423,000 | 14,000 | −355,000 | 0 | — | |
| Loss on sale and writedowns of repossessed assets | 118,000 | 0 | — | — | — | |
| Non-qualified stock purchase plan expense | 17,000 | 23,000 | 27,000 | 87,000 | 57,000 | |
| Stock based compensation expense | 99,000 | 396,000 | 604,000 | 763,000 | 461,000 | |
| Income from bank owned life insurance | −751,000 | −713,000 | −641,000 | −612,000 | −364,000 | |
| Impairment of equipment and software | 1 | 0 | — | — | — | |
| Accrued interest receivable | 734,000 | −2 | −3 | −920,000 | 4 | |
| Other assets | −1 | −8 | 117,000 | −2 | −7 | |
| Accrued interest payable | 97,000 | 154,000 | 178,000 | 378,000 | −2 | |
| Other liabilities | −5 | 14 | −4 | 3 | 3 | |
| Net cash provided by operating activities of continuing operations | 285 | 391 | 455 | 335 | 384 | |
| Net cash used in operating activities of discontinued operations | 0 | −341,000 | −388,000 | 106 | 112 | |
| Net cash provided by operating activities | 285 | 391 | 455 | 440 | 495 | |
| Purchase of investment securities available for sale | −6 | −4 | 0 | −20 | −33 | |
| Principal payments on investment securities available for sale | 3 | 8 | 4 | 3 | 2 | |
| Principal payments on investment securities held to maturity | 0 | 1,000 | 1,000 | 50,000 | — | |
| Call of investment securities held to maturity | 11 | 0 | 3 | 0 | 38,000 | |
| Net sale (purchase) of nonmarketable equity securities | −130,000 | 244,000 | −733,000 | −1 | −465,000 | |
| Purchase of time deposits in banks | −14,000 | −1 | −1 | −3 | 0 | |
| Maturity of time deposits in banks | 2 | 3 | 1 | 0 | — | |
| Purchase of government guaranteed loans | 0 | −4 | −112 | −54 | 0 | |
| Loan originations, net | −205 | −531 | −530 | −424 | 265 | |
| Purchase related to other real estate owned | 0 | −1 | 0 | — | — | |
| Proceeds for the sale of premises and equipment | 0 | 15 | 0 | — | — | |
| Purchase of premises and equipment | −300,000 | −2 | −8 | −8 | −13 | |
| Proceeds on sales of other real estate owned | 155,000 | 2 | 2 | 0 | — | |
| Proceeds on sales of repossessed assets | 59,000 | 0 | — | — | — | |
| Net cash used in investing activities | −195 | −516 | −641 | −511 | 208 | |
| Net change in deposits | 41 | 158 | 190 | 73 | 163 | |
| Net decrease in short-term borrowings | 0 | 10 | — | — | — | |
| Payments on notes payable | −341,000 | −455,000 | −455,000 | −455,000 | −455,000 | |
| Proceeds from issuance of common stock for benefit plans, net | 50,000 | −23,000 | 289,000 | 509,000 | 2 | |
| Common share buyback - redeemed stock | −335,000 | 0 | −13,000 | −49,000 | 0 | |
| Unearned ESOP shares | 193,000 | 53,000 | −189,000 | −15,000 | — | |
| Dividends paid on common stock | −663,000 | −1 | −1 | −1 | −1 | |
| Dividends paid on preferred stock | −771,000 | −2 | −965,000 | −832,000 | −1 | |
| Net cash provided by financing activities | 39 | 145 | 179 | 27 | −649 | |
| Net change in cash and cash equivalents | 129 | 19 | −8 | −44 | 54 | |
| Interest paid | 40 | 45 | 32 | 8 | 9 | |
| Income taxes paid | 5 | 8,000 | 97,000 | 248,000 | 10 | |
| Net change in unrealized holding gains (losses) on investment securities available for sale, net of tax effect | 996,000 | 25,000 | 743,000 | −3 | −420,000 | |
| Transfer of government guaranteed loans HFI to loans HFS | 296 | 383 | 464 | 337 | 378 | |
| Transfer of government guaranteed loans HFS to loans HFI | 5 | 0 | — | — | — | |
| Transfer of loans HFI to OREO | 0 | 94,000 | 0 | 53,000 | — | |
| Transfer of loans HFI to repossessed assets | 422,000 | 0 | 0 | — | — | |
| Recognition of right of use asset in exchange for new operating lease liabilities | 0 | 14 | 0 | 627,000 | 543,000 |
Filings
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Frequently asked questions
What is BayFirst Financial Corp.'s CIK number?
BayFirst Financial Corp.'s SEC CIK number is 0001649739 (1649739). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find BayFirst Financial Corp.'s SEC filings?
All of BayFirst Financial Corp.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did BayFirst Financial Corp. last report earnings?
BayFirst Financial Corp. (BAFN) most recently filed an earnings 8-K with the SEC on Jul 15, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001649739-26-000041). This is BayFirst Financial Corp.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is BayFirst Financial Corp.'s most recent earnings 8-K?
BayFirst Financial Corp.'s latest earnings 8-K (Item 2.02) was filed Jul 15, 2026 under accession 0001649739-26-000041. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View BayFirst Financial Corp.'s latest earnings 8-K →
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