BayFirst Financial Corp.
For the period ended Jun 30, 2026. Filed Aug 14, 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.
Jun 30, 2026 · Filed Aug 14, 2026
BAFN$6.10+1.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Balance Sheets at (Unaudited) and
| June 30, 2026 | December 31, 2025 | (1) | |
| ASSETS | (Unaudited) | (As restated) | |
|---|---|---|---|
| Cash and due from banks | $5,641 | $5,123 | |
| Interest-bearing deposits in banks | 133,524 | 201,859 | |
| Cash and cash equivalents | 139,165 | 206,982 | |
| Investment securities available for sale, at fair value (amortized cost: $30,591 and $31,974 at June 30, 2026 and December 31, 2025, respectively) | 27,778 | 29,363 | |
| Investment securities held to maturity, at amortized cost, net of allowance for credit losses of $7 and $7 (fair value: $2,371 and $2,384 at June 30, 2026 and December 31, 2025, respectively) | 2,493 | 2,493 | |
| Nonmarketable equity securities | 3,164 | 4,656 | |
| Government guaranteed loans HFI, at fair value | 43,847 | 54,076 | |
| Loans HFI, at amortized cost | 838,993 | 903,938 | |
| Allowance for credit losses on loans | (45,081) | (21,996) | |
| Net loans HFI, at amortized cost | 793,912 | 881,942 | |
| Accrued interest receivable | 5,127 | 6,317 | |
| Premises and equipment, net | 30,245 | 31,188 | |
| Loan servicing rights | 9,942 | 12,580 | |
| Deferred income tax asset | 21,253 | 7,826 | |
| Right-of-use operating lease assets | 13,720 | 14,504 | |
| Bank owned life insurance | 27,654 | 27,264 | |
| Other real estate owned | 532 | 400 | |
| Other assets | 16,093 | 14,678 | |
| Total assets | $1,134,925 | $1,294,269 | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |||
| Liabilities: | |||
| Noninterest-bearing deposit accounts | $116,788 | $95,731 | |
| Interest-bearing transaction accounts | 135,628 | 231,227 | |
| Savings and money market deposit accounts | 422,933 | 454,639 | |
| Time deposits | 313,525 | 402,341 | |
| Total deposits | 988,874 | 1,183,938 | |
| Subordinated notes | 5,966 | 5,962 | |
| Notes payable | 1,252 | 1,593 | |
| Accrued interest payable | 597 | 1,133 | |
| Operating lease liabilities | 12,694 | 13,264 | |
| Accrued expenses and other liabilities | 9,641 | 6,799 | |
| Total liabilities | 1,019,024 | 1,212,689 | |
CONDENSED CONSOLIDATED BALANCE SHEETS CONTINUED
(Dollars in thousands, except per share data)
| June 30, 2026 | December 31, 2025 | (1) | |
| Shareholders’ equity: | (Unaudited) | (As restated) | |
|---|---|---|---|
| Preferred stock, Series A; no par value, 10,000 shares authorized, 6,395 shares issued and outstanding at June 30, 2026 and December 31, 2025; aggregate liquidation preference of $6,395 at June 30, 2026 and $6,683 at December 31, 2025 | 6,161 | 6,161 | |
| Preferred stock, Series B; no par value, 20,000 shares authorized, 3,210 shares issued and outstanding at June 30, 2026 and December 31, 2025; aggregate liquidation preference of $3,210 at June 30, 2026 and $3,338 at December 31, 2025 | 3,123 | 3,123 | |
| Preferred stock, Series C; no par value, 10,000 shares authorized, 6,446 shares issued and outstanding at June 30, 2026 and December 31, 2025; aggregate liquidation preference of $6,446 at June 30, 2026 and $6,801 at December 31, 2025 | 6,446 | 6,446 | |
| Preferred stock, Series D; no par value, 4,000 shares authorized, issued and outstanding at June 30, 2026 and no shares authorized, issued and outstanding at December 31, 2025; aggregate liquidation preference of $40,000 at June 30, 2026 | 37,254 | — | |
| Preferred stock, Series E; no par value, 4,000 shares authorized, issued and outstanding at June 30, 2026 and no shares authorized, issued and outstanding at December 31, 2025; aggregate liquidation preference of $40,000 at June 30, 2026 | 37,254 | — | |
| Common stock and additional paid-in capital; no par value, 15,000,000 shares authorized, 4,106,905 and 4,108,609 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively | 54,382 | 54,371 | |
| Accumulated other comprehensive loss, net | (2,111) | (1,960) | |
| Unearned compensation | (245) | (335) | |
| Retained earnings | (26,363) | 13,774 | |
| Total shareholders’ equity | 115,901 | 81,580 | |
| Total liabilities and shareholders’ equity | $1,134,925 | $1,294,269 |
(1) Derived from audited consolidated financial statements as restated
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.