BayFirst Financial Corp.

For the period ended Mar 31, 2025. Filed May 13, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed May 13, 2025

BAFN$6.10+1.6%Stored close · as of Nov 10, 2026

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Contents

Consolidated Balance Sheets at (Unaudited) and

LIABILITIES AND SHAREHOLDERS’ EQUITY
	March 31, 2025	December 31, 2024	(1)
ASSETS	(Unaudited)
Cash and due from banks	$6,517		$4,499
Interest-bearing deposits in banks	56,637		73,289
Cash and cash equivalents	63,154		77,788
Time deposits in banks	2,025		2,270
Investment securities available for sale, at fair value (amortized cost: $39,507 and $40,279 at March 31, 2025 and December 31, 2024, respectively)	36,318		36,291
Investment securities held to maturity, at amortized cost, net of allowance for credit losses of $12 and $12 (fair value: $2,356 and $2,346 at March 31, 2025 and December 31, 2024, respectively)	2,488		2,488
Nonmarketable equity securities	5,480		4,526
Government guaranteed loans HFI, at fair value	57,901		60,833
Loans HFI, at amortized cost	1,026,916		1,005,726
Allowance for credit losses on loans	(16,513)		(15,512)
Net loans HFI, at amortized cost	1,010,403		990,214
Accrued interest receivable	9,153		9,155
Premises and equipment, net	32,769		33,249
Loan servicing rights	16,460		16,534
Right-of-use operating lease assets	15,484		15,814
Bank owned life insurance	26,696		26,513
Other real estate owned	132		132
Other assets	13,494		12,490
Total assets	$1,291,957		$1,288,297
Liabilities:
Noninterest-bearing deposit accounts	$106,236		$101,743
Interest-bearing transaction accounts	261,074		256,793
Savings and money market deposit accounts	467,766		474,425
Time deposits	293,191		310,268
Total deposits	1,128,267		1,143,229
FHLB borrowings	20,000		—
Subordinated debentures	5,957		5,956
Notes payable	1,820		1,934
Accrued interest payable	1,053		1,036
Operating lease liabilities	14,102		14,510
Deferred income tax liabilities	648		301
Accrued expenses and other liabilities	10,025		10,411
Total liabilities	1,181,872		1,177,377

CONSOLIDATED BALANCE SHEETS CONTINUED

	March 31, 2025	December 31, 2024	(1)
Shareholders’ equity:	(Unaudited)
Preferred stock, Series A; no par value, 10,000 shares authorized, 6,395 shares issued and outstanding at March 31, 2025 and December 31, 2024; aggregate liquidation preference of $6,395	6,161		6,161
Preferred stock, Series B; no par value, 20,000 shares authorized, 3,210 shares issued and outstanding at March 31, 2025 and December 31, 2024; aggregate liquidation preference of $3,210	3,123		3,123
Preferred stock, Series C; no par value, 10,000 shares authorized, 6,446 shares issued and outstanding at March 31, 2025 and December 31, 2024; aggregate liquidation preference of $6,446	6,446		6,446
Common stock and additional paid-in capital; no par value, 15,000,000 shares authorized, 4,129,027 and 4,132,986 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively	54,657		54,764
Accumulated other comprehensive loss, net	(2,378)		(2,956)
Unearned compensation	(1,006)		(752)
Retained earnings	43,082		44,134
Total shareholders’ equity	110,085		110,920
Total liabilities and shareholders’ equity	$1,291,957		$1,288,297

(1) Derived from audited consolidated financial statements

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.