NASDAQ : BAFN
BayFirst Financial Corp. — Financial statements
Financials · Banks - Regional · United States
Last price 5.8 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 156.38M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 66.57M | 81.24M | 78.83M | 63.19M | 36.49M | 43.26M |
| Interest Income on Investments | 5.99M | 4.55M | 3.98M | 5.33M | 2.07M | 570.00K |
| Total Interest Income | 72.56M | 85.79M | 82.81M | 68.52M | 38.57M | 43.83M |
| Interest Paid on Deposits | 30.68M | 37.74M | 42.87M | 30.80M | 7.84M | 4.88M |
| Interest Paid on Borrowings | 668.00K | 2.27M | 1.91M | 1.29M | 722.00K | 2.42M |
| Total Interest Expense | 31.34M | 40.01M | 44.78M | 32.09M | 8.57M | 7.30M |
| Net Interest Income | 41.22M | 45.78M | 38.03M | 36.43M | 30.00M | 36.53M |
| Gain (Loss) on Sale of Assets | -21.00K | 11.65M | ||||
| Other Non-Interest Income | -3.60M | 6.68M | 20.57M | 25.20M | 9.83M | 3.95M |
| Total Non-Interest Income | -4.38M | 18.40M | 60.47M | 49.76M | 31.55M | 21.97M |
| Revenues Before Loan Losses | 36.84M | 64.18M | 98.50M | 86.19M | 61.55M | 58.50M |
| Provision for Loan Losses | 33.57M | 24.59M | 14.73M | 10.45M | -700.00K | -3.50M |
| Revenue | 3.28M | 39.59M | 83.77M | 75.74M | 62.25M | 62.00M |
| Salaries and Employee Benefits | 20.84M | 28.98M | 35.05M | 35.94M | 28.89M | 27.09M |
| Occupancy Expenses | 2.95M | 3.66M | 3.91M | 3.78M | 2.08M | 1.06M |
| Federal Deposit Insurance | 2.40M | 1.87M | 1.25M | 881.00K | 457.00K | 442.00K |
| Selling, General & Administrative | 15.45M | 17.12M | 16.26M | 16.52M | 16.64M | 16.77M |
| Other Non-Interest Expense | 15.59M | 11.52M | 10.31M | 10.59M | 7.14M | 4.92M |
| Total Non-Interest Expense | 57.23M | 63.14M | 66.78M | 67.71M | 55.21M | 50.28M |
| EBT Excluding Unusual Items | -53.95M | -23.55M | 16.99M | 8.03M | 7.04M | 11.72M |
| Pretax Income | -53.97M | -30.83M | 16.99M | 8.03M | 7.04M | 11.72M |
| Income Tax Expense | -13.63M | -7.89M | 4.32M | 2.12M | 1.56M | 2.69M |
| Earnings From Continuing Operations | -40.34M | -22.94M | 12.67M | 5.92M | 5.48M | 9.03M |
| Earnings From Discontinued Operations | -69.00K | -213.00K | -5.83M | 15.59M | ||
| Net Income | -40.34M | -22.94M | 12.60M | 5.70M | -349.00K | 24.62M |
| Preferred Dividends & Other Adjustments | 1.43M | 1.54M | 1.54M | 965.00K | 832.00K | 1.00M |
| Net Income to Common | -41.77M | -24.48M | 11.06M | 4.74M | -1.18M | 23.61M |
| Basic Shares Outstanding | 9.07M | 4.13M | 4.13M | 4.10M | 4.02M | 3.80M |
| Diluted Shares Outstanding | 9.07M | 4.13M | 4.59M | 4.58M | 4.22M | 4.07M |
| EPS (Basic) | -4.60 | -5.93 | 2.68 | 1.16 | -0.29 | 6.21 |
| EPS (Diluted) | -4.61 | -5.93 | 2.62 | 1.12 | -0.29 | 5.91 |
| Dividend Per Share | 0.16 | 0.24 | 0.32 | 0.32 | 0.28 | |
| Effective Tax Rate | 25.40% | 26.38% | 22.17% | 22.96% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 128.33M | 206.98M | 77.79M | 58.38M | 66.05M | 108.78M |
| Investment Securities | 30.86M | 9.19M | 18.63M | 26.37M | 30.57M | 9.92M |
| Trading Asset Securities | 1.55M | |||||
| Mortgage-Backed Securities | 22.67M | 22.42M | 20.34M | 21.66M | 23.36M | |
| Total Investments | 30.86M | 31.86M | 41.05M | 46.70M | 52.23M | 34.83M |
| Gross Loans | 902.97M | 970.71M | 1.07B | 922.77M | 734.27M | 587.83M |
| Allowance for Loan Losses | -41.76M | -22.00M | -15.51M | -13.50M | -9.05M | -13.45M |
| Other Adjustments to Gross Loans | -6.81M | -8.31M | -7.04M | -5.62M | -3.88M | |
| Net Loans | 861.20M | 941.90M | 1.05B | 902.23M | 719.61M | 570.50M |
| Property, Plant & Equipment | 48.08M | 45.69M | 49.06M | 41.29M | 38.62M | 32.35M |
| Loans Held for Sale | 1.46M | |||||
| Accrued Interest Receivable | 5.43M | 8.42M | 9.15M | 7.13M | 4.45M | 3.53M |
| Restricted Cash | 948.00K | |||||
| Other Current Assets | 348.00K | 1.21M | 118.38M | |||
| Long-Term Deferred Tax Assets | 21.84M | 6.54M | 980.00K | 454.00K | ||
| Other Real Estate Owned & Foreclosed | 410.00K | 663.00K | 168.00K | |||
| Other Long-Term Assets | 51.78M | 58.21M | 60.03M | 61.68M | 55.75M | 45.87M |
| Total Assets | 1.15B | 1.30B | 1.29B | 1.12B | 938.89M | 917.10M |
| Accrued Expenses | 8.98M | 6.13M | 9.89M | 8.98M | 12.21M | 8.78M |
| Interest Bearing Deposits | 892.96M | 911.21M | 1.04B | 891.43M | 701.84M | 638.05M |
| Institutional Deposits | 177.00M | |||||
| Non-Interest Bearing Deposits | 121.19M | 95.73M | 101.74M | 93.71M | 93.23M | 83.64M |
| Total Deposits | 1.01B | 1.18B | 1.14B | 985.14M | 795.07M | 721.68M |
| Short-Term Borrowings | 10.00M | 25.00M | 189.00K | |||
| Current Portion of Long-Term Debt | 456.00K | 456.00K | 456.00K | 50.00K | 44.65M | |
| Current Portion of Leases | 2.12M | 2.03M | 1.10M | 1.45M | ||
| Accrued Interest Payable | 735.00K | 1.13M | 1.04M | 882.00K | 704.00K | 326.00K |
| Other Current Liabilities | 620.00K | 1.66M | 7.46M | |||
| Long-Term Debt | 7.11M | 7.10M | 7.43M | 7.88M | 8.79M | 34.29M |
| Long-Term Leases | 12.41M | 11.14M | 12.48M | 1.51M | 3.54M | 1.98M |
| Long-Term Deferred Tax Liabilities | 301.00K | 482.00K | ||||
| Other Long-Term Liabilities | 671.00K | 516.00K | ||||
| Total Liabilities | 1.04B | 1.21B | 1.18B | 1.02B | 847.01M | 820.80M |
| Preferred Stock, Redeemable | 6.16M | 6.16M | 6.16M | 6.16M | 6.16M | |
| Preferred Stock, Convertible | 6.45M | 9.57M | 9.57M | 9.57M | 3.12M | 3.12M |
| Total Preferred Equity | 6.45M | 15.73M | 15.73M | 15.73M | 9.28M | 9.28M |
| Common Stock | 128.65M | 54.37M | 54.76M | 54.52M | 53.02M | 51.50M |
| Retained Earnings | -27.64M | 19.76M | 44.13M | 34.40M | 33.48M | 35.95M |
| Comprehensive Income & Other | -2.91M | -2.29M | -3.71M | -3.94M | -3.90M | -437.00K |
| Total Common Equity | 98.09M | 71.84M | 95.19M | 84.98M | 82.60M | 87.01M |
| Shareholders' Equity | 104.54M | 87.57M | 110.92M | 100.71M | 91.88M | 96.29M |
| Total Liabilities & Equity | 1.15B | 1.30B | 1.29B | 1.12B | 938.89M | 917.10M |
| Total Debt | 19.51M | 20.82M | 22.40M | 20.96M | 37.37M | 82.56M |
| Net Cash (Debt) | 108.81M | 186.16M | 57.66M | 42.07M | 33.55M | 30.15M |
| Net Cash Per Share | 11.99 | 45.08 | 12.57 | 9.18 | 7.95 | 7.41 |
| Filing Date Shares Outstanding | 26.96M | 4.11M | 4.15M | 4.13M | 4.10M | 4.01M |
| Total Common Shares Outstanding | 26.96M | 4.11M | 4.13M | 4.11M | 4.04M | 3.98M |
| Book Value Per Share | 3.64 | 17.49 | 23.03 | 20.67 | 20.43 | 21.85 |
| Tangible Book Value | 98.09M | 71.84M | 95.19M | 84.98M | 82.60M | 87.01M |
| Tangible Book Value Per Share | 3.64 | 17.49 | 23.03 | 20.67 | 20.43 | 21.85 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -22.94M | 12.60M | 5.70M | -349.00K | 24.62M | |
| Depreciation & Amortization | 9.12M | 8.72M | 6.75M | 4.97M | 4.33M | |
| Other Amortization | 6.00K | 7.00K | 7.00K | 7.00K | 37.00K | |
| Gain (Loss) on Sale of Assets | -305.00K | -11.63M | -355.00K | |||
| Gain (Loss) on Sale of Investments | 40.00K | 112.00K | 95.00K | 122.00K | 102.00K | |
| Total Asset Writedown | 1.42M | |||||
| Provision for Credit Losses | 25.66M | 4.88M | -5.27M | -5.46M | -3.68M | |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | 298.16M | 403.37M | 479.75M | 352.09M | 392.97M | |
| Accrued Interest Receivable | 734.00K | -2.02M | -2.68M | -920.00K | 3.72M | |
| Change in Other Net Operating Assets | -6.19M | 5.75M | -4.36M | 1.56M | -4.61M | |
| Other Operating Activities | -6.28M | -833.00K | 1.69M | 5.64M | -12.45M | |
| Net Cash from Discontinued Operations | -341.00K | -388.00K | 105.54M | 111.54M | ||
| Operating Cash Flow | 285.30M | 390.53M | 454.80M | 440.25M | 495.39M | |
| Capital Expenditures | -300.00K | -1.69M | -7.58M | -8.06M | -13.12M | |
| Sale of Property, Plant and Equipment | 14.75M | |||||
| Investment in Securities | 10.54M | 5.58M | 6.42M | -23.53M | -31.53M | |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -205.26M | -535.21M | -641.69M | -423.95M | 264.72M | |
| Other Investing Activities | -71.00K | 244.00K | -733.00K | -55.05M | -12.46M | |
| Investing Cash Flow | -194.94M | -515.93M | -641.28M | -510.61M | 207.62M | |
| Short-Term Debt Issued | 25.00M | 6.00M | ||||
| Total Debt Issued | 25.00M | 6.00M | ||||
| Short-Term Debt Repaid | -10.00M | -15.00M | -6.00M | |||
| Long-Term Debt Repaid | -341.00K | -455.00K | -505.00K | -70.11M | -812.06M | |
| Total Debt Repaid | -341.00K | -10.46M | -15.51M | -70.11M | -818.06M | |
| Net Debt Issued (Repaid) | -341.00K | -10.46M | -15.51M | -45.11M | -812.06M | |
| Issuance of Common Stock | 243.00K | 53.00K | 289.00K | 580.00K | 2.22M | |
| Repurchase of Common Stock | -335.00K | -13.00K | -49.00K | |||
| Preferred Stock Issued | 6.45M | 727.00K | ||||
| Common Dividends Paid | -663.00K | -1.32M | -1.31M | -1.29M | -1.06M | |
| Preferred Dividends Paid | -771.00K | -1.54M | -965.00K | -832.00K | -1.00M | |
| Total Dividends Paid | -1.43M | -2.86M | -2.28M | -2.12M | -2.06M | |
| Net Increase (Decrease) in Deposit Accounts | 40.71M | 158.09M | 190.07M | 73.39M | 162.90M | |
| Other Financing Activities | -23.00K | -189.00K | -15.00K | -377.00K | ||
| Financing Cash Flow | 38.84M | 144.80M | 178.82M | 26.67M | -648.66M | |
| Net Cash Flow | 129.19M | 19.40M | -7.66M | -43.68M | 54.35M | |
| Free Cash Flow | 285.00M | 388.84M | 447.21M | 432.19M | 482.27M | |
| Free Cash Flow Margin | 719.77% | 464.19% | 590.45% | 694.28% | 777.87% | |
| Free Cash Flow Per Share | 69.01 | 84.74 | 97.61 | 102.40 | 118.46 | |
| Cash Interest Paid | 39.91M | 44.63M | 31.91M | 8.19M | 8.97M | |
| Cash Income Tax Paid | 5.30M | 8.00K | 97.00K | 248.00K | 10.38M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 159.75M | 32.26M | 54.97M | 53.62M | 67.51M | 90.49M |
| Last Close Price | 5.80 | 7.85 | 13.18 | 12.60 | 15.78 | 21.11 |
| PE Ratio | 4.97 | 11.32 | 3.83 | |||
| PS Ratio | 47.90 | 0.81 | 0.66 | 0.71 | 1.08 | 1.46 |
| PB Ratio | 1.59 | 0.37 | 0.50 | 0.53 | 0.73 | 0.94 |
| P/FCF Ratio | 1.10 | 0.11 | 0.14 | 0.12 | 0.16 | 0.19 |
| P/OCF Ratio | 1.10 | 0.11 | 0.14 | 0.12 | 0.15 | 0.18 |
| Debt / Equity Ratio | 0.19 | 0.24 | 0.20 | 0.21 | 0.41 | 0.86 |
| Debt / FCF Ratio | 0.07 | 0.06 | 0.05 | 0.09 | 0.17 | |
| Net Debt / Equity Ratio | -1.04 | -2.13 | -0.52 | -0.42 | -0.36 | -0.31 |
| Net Debt / FCF Ratio | -0.65 | -0.15 | -0.09 | -0.08 | -0.06 | |
| Return on Equity (ROE) | -41.53% | -23.11% | 11.98% | 6.14% | 5.82% | 10.79% |
| Return on Assets (ROA) | -3.23% | -1.77% | 1.05% | 0.57% | 0.59% | 0.73% |
| Earnings Yield | -77.74% | -71.09% | 22.93% | 10.63% | -0.52% | 27.21% |
| FCF Yield | 91.16% | 883.33% | 707.39% | 833.99% | 640.15% | 532.96% |
| Dividend Yield | 2.04% | 1.80% | 2.45% | 1.92% | 1.22% | |
| Payout Ratio | 22.73% | 39.95% | 8.37% | |||
| Buyback Yield / Dilution | -119.38% | 10.00% | -0.15% | -8.56% | -3.67% | -1.75% |
| Total Shareholder Return | -119.38% | 12.04% | 1.66% | -6.11% | -1.75% | -0.53% |