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Midas Edge

BayFirst Financial Corp.

For the period ended Sep 30, 2026. Filed Nov 10, 2026.

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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, 2026 · Filed Nov 10, 2026

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

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Condensed Consolidated Balance Sheets at (Unaudited) and

September 30, 2026December 31, 2025(1)
ASSETS(Unaudited)(As restated)
Cash and due from banks$5,230$5,123
Interest-bearing deposits in banks123,097201,859
Cash and cash equivalents128,327206,982
Investment securities available for sale, at fair value (amortized cost: $27,454 and $31,974 at September 30, 2026 and December 31, 2025, respectively)23,85629,363
Investment securities held to maturity, at amortized cost, net of allowance for credit losses of $7 and $7 (fair value: $2,347 and $2,384 at September 30, 2026 and December 31, 2025, respectively)2,4932,493
Nonmarketable equity securities4,5094,656
Government guaranteed loans HFI, at fair value42,20454,076
Loans HFI, at amortized cost860,762903,938
Allowance for credit losses on loans(41,762)(21,996)
Net loans HFI, at amortized cost819,000881,942
Accrued interest receivable5,4296,317
Premises and equipment, net34,68131,188
Loan servicing rights8,82712,580
Deferred income tax asset21,8367,826
Right-of-use operating lease assets13,40214,504
Bank owned life insurance27,85427,264
Other real estate owned410400
Other assets15,10114,678
Total assets$1,147,929$1,294,269
LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities:
Noninterest-bearing deposit accounts$121,193$95,731
Interest-bearing transaction accounts142,555231,227
Savings and money market deposit accounts445,578454,639
Time deposits304,828402,341
Total deposits1,014,1541,183,938
Subordinated notes5,9685,962
Notes payable1,1381,593
Accrued interest payable7351,133
Operating lease liabilities12,40813,264
Accrued expenses and other liabilities8,9856,799
Total liabilities1,043,3881,212,689

CONDENSED CONSOLIDATED BALANCE SHEETS CONTINUED

(Dollars in thousands, except per share data)

September 30, 2026December 31, 2025(1)
Shareholders’ equity:(Unaudited)(As restated)
Preferred stock, Series A; no par value, no shares authorized, issued, and outstanding at September 30, 2026 and 10,000 shares authorized, 6,395 shares issued and outstanding at December 31, 2025; aggregate liquidation preference of $6,683 at December 31, 2025—6,161
Preferred stock, Series B; no par value, no shares authorized, issued, and outstanding at September 30, 2026 and 20,000 shares authorized,3,210 shares issued and outstanding at December 31, 2025; aggregate liquidation preference of $3,338 at December 31, 2025—3,123
Preferred stock, Series C; no par value, 10,000 shares authorized, 6,446 shares issued and outstanding at September 30, 2026 and December 31, 2025; aggregate liquidation preference of $6,446 at September 30, 2026 and $6,801 at December 31, 20256,4466,446
Common stock and additional paid-in capital; no par value, 100,000,000 and 15,000,000, shares authorized, 26,962,725 and 4,108,609 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively128,64654,371
Accumulated other comprehensive loss, net(2,701)(1,960)
Unearned compensation(213)(335)
Retained earnings (losses)(27,637)13,774
Total shareholders’ equity104,54181,580
Total liabilities and shareholders’ equity$1,147,929$1,294,269

(1) Derived from audited consolidated financial statements as restated

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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.