BayFirst Financial Corp.
For the period ended Sep 30, 2025. Filed Nov 12, 2025.
View on SEC.govAbout 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$5.72-0.9%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Table of Contents
BayFirst Financial Corp.
| Page | ||
|---|---|---|
| Part I - Financial Information | 3 | |
| Item 1. | Financial Statements | 3 |
| Condensed Consolidated Balance Sheets at September 30, 2025 (Unaudited) and December 31, 2024 | 3 | |
| Condensed Consolidated Statements of Income (Loss) (Unaudited) for the three and nine months ended September 30, 2025 and 2024 | 5 | |
| Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) for the three and nine months ended September 30, 2025 and 2024 | 7 | |
| Condensed Consolidated Statements of Changes in Shareholders’ Equity (Unaudited) for the three and nine months ended September 30, 2025 and 2024 | 8 | |
| Condensed Consolidated Statements of Cash Flows (Unaudited) for the nine months ended September 30, 2025 and 2024 | 10 | |
| Notes to the Condensed Consolidated Financial Statements (Unaudited) | 12 | |
| Item 2. | Management's Discussion and Analysis of Financial Condition and Results of Operations | 41 |
| Item 3. | Quantitative and Qualitative Disclosures About Market Risk | 63 |
| Item 4. | Controls and Procedures | 64 |
| Part II - Other Information | 65 | |
| Item 1. | Legal Proceedings | 65 |
| Item 1A. | Risk Factors | 65 |
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 65 |
| Item 3. | Defaults Upon Senior Securities | 65 |
| Item 4. | Mine Safety Disclosures | 66 |
| Item 5. | Other Information | 66 |
| Item 6. | Exhibits | 66 |
| Signatures | 67 | |
Glossary of Acronyms and Abbreviations
The acronyms and abbreviations identified below may be used throughout this Quarterly Report on Form 10-Q or in our other SEC filings. You may find it helpful to refer back to this page while reading this report.
| ACL: Allowance for Credit Losses | FHLB: Federal Home Loan Bank |
|---|---|
| AFS: Available for Sale | FNBB: First National Bankers Bank |
| AIO: Architecture, Infrastructure, and Operations | FOMC: Federal Open Market Committee |
| ALCO: Asset-Liability Committee | FRB: Federal Reserve Bank |
| AOCI: Accumulated Other Comprehensive Income | FVO: Fair Value Option |
| ASC: FASB Accounting Standards Codification | GAAP: Generally Accepted Accounting Principles |
| ASU: FASB Accounting Standards Update | HFI: Held for Investment |
| BHCA: Bank Holding Company Act of 1956, as amended | HFS: Held for Sale |
| BOLI: Bank Owned Life Insurance | HTM: Held to Maturity |
| BSA: Bank Secrecy Act of 1970 | IRA: Individual Retirement Account |
| CARES Act: Coronavirus Aid, Relief, and Economic Security Act | ISO: Information Security Officer |
| CBLR: Community Bank Leverage Ratio | IT: Information Technology |
| CDARS: Certificate of Deposit Account Registry Services | JOBS Act: Jumpstart Our Business Startups Act of 2012 |
| CECL: Current Expected Credit Losses | LGD: Loss Given Default |
| CEO: Chief Executive Officer | LHFS: Loans Held for Sale |
| CET1: Common Equity Tier 1 Capital | MMDA: Money Market Deposit Account |
| CFPB: Consumer Financial Protection Bureau | NOW: Negotiable Order of Withdrawal |
| C&I: Commercial and Industrial | NSPP: Non-Qualified Stock Purchase Plan |
| CRO: Chief Risk Officer | OCC: Office of the Comptroller of the Currency |
| CTO: Chief Technology Officer | OREO: Other Real Estate Owned |
| Dodd-Frank Act: Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 | OTTI: Other-Than-Temporary Impairment |
| DRIP: Dividend Reinvestment Plan | PCAOB: Public Company Accounting Oversight Board |
| EGC: Emerging Growth Company | PD: Probability of Default |
| EPS: Earnings per Share | PPP: Paycheck Protection Program |
| Equity Plan: The Amended and Restated 2017 Equity Incentive Plan | ROU: Right of Use |
| ESG: Environmental, Social, and Governance | SBA: Small Business Administration |
| ESOP: Employee Stock Ownership Plan | SEC: U.S. Securities and Exchange Commission |
| Exchange Act: Securities Exchange Act of 1934 | SOFR: Secured Overnight Financing Rate |
| FASB: Financial Accounting Standards Board | U.S.: United States |
| FBCA: Florida Business Corporation Act | USDA: United States Department of Agriculture |
| FDIA: Federal Deposit Insurance Act | USDA B&I: United States Department of Agriculture Business and Industry |
| FDIC: Federal Deposit Insurance Corporation | WARM: Weighted Average Remaining Life |
| FFIEC: Federal Financial Institutions Examination Council | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.