BayFirst Financial Corp.

For the period ended Sep 30, 2025. Filed Nov 12, 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.

Sep 30, 2025 · Filed Nov 12, 2025

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

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Contents

Condensed Consolidated Balance Sheets at (Unaudited) and

LIABILITIES AND SHAREHOLDERS’ EQUITY
	September 30, 2025	December 31, 2024	(1)
ASSETS	(Unaudited)
Cash and due from banks	$5,193		$4,499
Interest-bearing deposits in banks	113,357		73,289
Cash and cash equivalents	118,550		77,788
Time deposits in banks	1,284		2,270
Investment securities available for sale, at fair value (amortized cost: $32,614 and $40,279 at September 30, 2025 and December 31, 2024, respectively)	29,857		36,291
Investment securities held to maturity, at amortized cost, net of allowance for credit losses of $9 and $12 (fair value: $2,375 and $2,346 at September 30, 2025 and December 31, 2024, respectively)	2,491		2,488
Nonmarketable equity securities	7,028		4,526
Government guaranteed loans held for sale	94,052		—
Government guaranteed loans HFI, at fair value	61,780		60,833
Loans HFI, at amortized cost	936,903		1,005,726
Allowance for credit losses on loans	(24,485)		(15,512)
Net loans HFI, at amortized cost	912,418		990,214
Accrued interest receivable	8,898		9,155
Premises and equipment, net	31,695		33,249
Loan servicing rights	15,663		16,534
Deferred income tax asset	5,839		—
Right-of-use operating lease assets	14,833		15,814
Bank owned life insurance	27,071		26,513
Other real estate owned	400		132
Other assets	14,119		12,490
Total assets	$1,345,978		$1,288,297
Liabilities:
Noninterest-bearing deposit accounts	$105,937		$101,743
Interest-bearing transaction accounts	210,336		256,793
Savings and money market deposit accounts	479,262		474,425
Time deposits	375,922		310,268
Total deposits	1,171,457		1,143,229
FHLB borrowings	50,000		—
Subordinated notes	5,961		5,956
Notes payable	1,593		1,934
Accrued interest payable	1,082		1,036
Operating lease liabilities	13,554		14,510
Deferred income tax liabilities	—		301
Accrued expenses and other liabilities	12,603		10,411
Total liabilities	1,256,250		1,177,377

CONDENSED CONSOLIDATED BALANCE SHEETS CONTINUED

	September 30, 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 September 30, 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 September 30, 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 September 30, 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, 4,116,913 and 4,132,986 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively	54,764		54,764
Accumulated other comprehensive loss, net	(2,069)		(2,956)
Unearned compensation	(538)		(752)
Retained earnings	21,841		44,134
Total shareholders’ equity	89,728		110,920
Total liabilities and shareholders’ equity	$1,345,978		$1,288,297

(1) Derived from audited consolidated financial statements

ContentsView on SEC.gov

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