BayFirst Financial Corp.
For the period ended Mar 31, 2026. Filed May 12, 2026.
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.
Mar 31, 2026 · Filed May 12, 2026
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 March 31, 2026 (Unaudited) and December 31, 2025 | 3 | |
| Condensed Consolidated Statements of Income (Loss) (Unaudited) for the three months ended March 31, 2026 and 2025 | 5 | |
| Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) for the three months ended March 31, 2026 and 2025 | 6 | |
| Condensed Consolidated Statements of Changes in Shareholders’ Equity (Unaudited) for the three months ended March 31, 2026 and 2025 | 7 | |
| Condensed Consolidated Statements of Cash Flows (Unaudited) for the three months ended March 31, 2026 and 2025 | 8 | |
| Notes to the Condensed Consolidated Financial Statements (Unaudited) | 10 | |
| Item 2. | Management's Discussion and Analysis of Financial Condition and Results of Operations | 35 |
| Item 3. | Quantitative and Qualitative Disclosures About Market Risk | 54 |
| Item 4. | Controls and Procedures | 55 |
| Part II - Other Information | 56 | |
| Item 1. | Legal Proceedings | 56 |
| Item 1A. | Risk Factors | 56 |
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 56 |
| Item 3. | Defaults Upon Senior Securities | 56 |
| Item 4. | Mine Safety Disclosures | 56 |
| Item 5. | Other Information | 56 |
| Item 6. | Exhibits | 57 |
| Signatures | 58 | |
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 | FFIEC: Federal Financial Institutions Examination Council |
|---|---|
| AFS: Available for Sale | FHLB: Federal Home Loan Bank |
| AIO: Architecture, Infrastructure, and Operations | FNBB: First National Bankers Bank |
| ALCO: Asset-Liability Committee | FOMC: Federal Open Market Committee |
| AOCI: Accumulated Other Comprehensive Income | FRB: Federal Reserve Bank |
| ASC: FASB Accounting Standards Codification | FVO: Fair Value Option |
| ASU: FASB Accounting Standards Update | GAAP: Generally Accepted Accounting Principles |
| BHCA: Bank Holding Company Act of 1956, as amended | HFI: Held for Investment |
| BOLI: Bank Owned Life Insurance | HFS: Held for Sale |
| BSA: Bank Secrecy Act of 1970 | HTM: Held to Maturity |
| CARES Act: Coronavirus Aid, Relief, and Economic Security Act | IRA: Individual Retirement Account |
| CBLR: Community Bank Leverage Ratio | ISO: Information Security Officer |
| CDARS: Certificate of Deposit Account Registry Services | IT: Information Technology |
| CECL: Current Expected Credit Losses | JOBS Act: Jumpstart Our Business Startups Act of 2012 |
| CEO: Chief Executive Officer | LGD: Loss Given Default |
| CET1: Common Equity Tier 1 Capital | LHFS: Loans Held for Sale |
| CFPB: Consumer Financial Protection Bureau | MMDA: Money Market Deposit Account |
| C&I: Commercial and Industrial | NOW: Negotiable Order of Withdrawal |
| CRO: Chief Risk Officer | NSPP: Non-Qualified Stock Purchase Plan |
| CTO: Chief Technology Officer | OCC: Office of the Comptroller of the Currency |
| Dodd-Frank Act: Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 | OREO: Other Real Estate Owned |
| DRIP: Dividend Reinvestment Plan | OTTI: Other-Than-Temporary Impairment |
| EGC: Emerging Growth Company | PCAOB: Public Company Accounting Oversight Board |
| EPS: Earnings per Share | PD: Probability of Default |
| Equity Plan: The Amended and Restated 2017 Equity Incentive Plan | PPP: Paycheck Protection Program |
| ESG: Environmental, Social, and Governance | ROU: Right of Use |
| ESOP: Employee Stock Ownership Plan | SBA: Small Business Administration |
| Exchange Act: Securities Exchange Act of 1934 | SEC: U.S. Securities and Exchange Commission |
| FASB: Financial Accounting Standards Board | SOFR: Secured Overnight Financing Rate |
| FBCA: Florida Business Corporation Act | U.S.: United States |
| FDIA: Federal Deposit Insurance Act | USDA: United States Department of Agriculture |
| FDIC: Federal Deposit Insurance Corporation | USDA B&I: United States Department of Agriculture Business and Industry |
| FDICIA: Federal Deposit Insurance Corporation Improvement Act | WARM: Weighted Average Remaining Life |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.