BAFN on Nasdaq

BayFirst Financial Corp.

In its 2026 annual report the company says: “BayFirst Financial Corp. is a bank holding company that operates through its wholly owned subsidiary, BayFirst National Bank, together referred to as “the Company” or “BayFirst”.”4 It is headquartered in St. Petersburg, United States.2 Its shares trade on Nasdaq under the symbol BAFN.2

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Last updated Oct 21, 2026.

Overview

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  • TickerBAFN on Nasdaq2
  • IndustryState Commercial Banks2
  • HeadquartersSt. Petersburg, United States2
  • Incorporated inFL3
  • Business address700 Central Avenue, Suite 102, St Petersburg, Fl 337013
  • Filer category, Emerging growth company3
  • Legal formCorporation2
  • LEI549300EG3HIQSTDIRQ722
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressc/o SCOTT, MCKIM, 700 Central Avenue, 33701 St. Petersburg, United States2
  • Registered withFlorida Division of Corporations, P000000620712

BayFirst Financial Corp. is a bank holding company that operates through its wholly owned subsidiary, BayFirst National Bank (the “Bank”), together referred to as “the Company” or “BayFirst”. BayFirst commenced its bank holding company operations on September 1, 2000, by acquiring all shares of the Bank. BayFirst’s primary source of income is from the Bank, which serves a broad spectrum of consumers and small businesses in the Tampa Bay/Sarasota region. BayFirst strives to be a progressive institution in its products and services, technology, design, and social responsibility. As of December 31, 2025, BayFirst had consolidated total assets of $1.30 billion, total loans held for investment of $963.9 million, total deposits of $1.18 billion, and total shareholders’ equity of $87.6 million. BayFirst’s corporate office is located at the BayFirst Executive Center, 700 Central Avenue, St. Pete…4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Net income56789-$24.6M in 2025
-$40.0M-$20.0M0$20.0M$40.0M2020: $12.7M$12.7M20202021: $24.6M$24.6M2021+94%2022: -$349.0K-$349.0K20222023: $5.7M$5.7M20232024: $10.2M$10.2M2024+79%2025: -$24.6M-$24.6M2025

Every line of the income statement as filed: the last 2 fiscal years (annual) or 4 quarters (quarterly), latest first.9

Period ending2025-12-312024-12-31
Loans, including fees$80.7M$77.9M
Interest-bearing deposits in banks and other$4.5M$4.0M
Total interest income$85.2M$81.9M
Deposits$37.7M$42.9M
Borrowings$2.3M$1.9M
Total interest expense$40.0M$44.8M
Net interest income$45.2M$37.1M
Provision for credit losses$25.6M$15.4M
Net interest income after provision for credit losses$19.6M$21.7M
Loan servicing income, net$2.8M$3.1M
Gain on sale of government guaranteed loans, net$11.2M$26.7M
Service charges and fees$1.9M$1.8M
Government guaranteed loans fair value gain (loss), net-$1.1M$9.8M
Government guaranteed loan packaging fees$1.8M$4.1M
Gain on sale of premises and equipment$0$11.6M
Other noninterest income$1.3M$1.7M
Total noninterest income$17.8M$58.9M
Salaries and benefits$28.4M$31.1M
Bonus, commissions, and incentives$855.0K$4.4M
Occupancy and equipment$6.1M$4.8M
Data processing$7.9M$6.7M
Marketing and business development$1.4M$2.0M
Professional services$3.5M$3.9M
Loan servicing and origination expense$8.0M$6.4M
Employee recruiting and development$1.7M$2.2M
Regulatory assessments$1.9M$1.2M
Restructure charges$7.3M$0
Other noninterest expense$3.5M$3.9M
Total noninterest expense$70.4M$66.8M
Income (loss) from continuing operations before income taxes-$33.0M$13.8M
Income tax expense (benefit) from continuing operations-$8.5M$3.5M
Net income (loss) from continuing operations-$24.6M$10.3M
Loss from discontinued operations before income taxes$0-$92.0K
Income tax benefit from discontinued operations$0-$23.0K
Net loss from discontinued operations$0-$69.0K
Net income (loss)-$24.6M$10.2M
Preferred stock dividends$1.5M$1.5M
Net income available to (loss attributable to) common shareholders-$26.1M$8.6M
Continuing operations (in dollars per share)-$6$2
Discontinued operations (in dollars per share)$0-$0
Total basic earnings (loss) per common share (in dollars per share)-$6.32$2.09
Continuing operations (in dollars per share)-$6$2
Discontinued operations (in dollars per share)$0-$0
Total diluted earnings (loss) per common share (in dollars per share)-$6.32$2.09

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Corporate structure

BayFirst Financial Corp. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of BayFirst Financial Corp.

  • LEHMAN KENNETH R Filed SCHEDULE 13D/A on BayFirst Financial Corp., latest Oct 13, 2026 (2 filings since Jul 16, 2026)
  • INTERPLUS RE Ltd Filed SCHEDULE 13G on BayFirst Financial Corp., latest May 20, 2026
  • Mark S. Berset Filed SC 13G on BayFirst Financial Corp., latest Nov 17, 2021
  • BayFirst Financial Corp. St. Petersburg, Florida, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What BayFirst Financial Corp. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$41.8M9 Dec 31, 2025$41.9M9 Dec 31, 2024−0.2%
Accumulated depreciation$10.6M9 Dec 31, 2025$8.6M9 Dec 31, 2024+23.2%
Property and equipment, net$31.2M9 Dec 31, 2025$33.2M9 Dec 31, 2024−6.2%
Operating-lease assets (leased space)$14.5M9 Dec 31, 2025$15.8M9 Dec 31, 2024−8.3%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$207.0M9 Dec 31, 2025$77.8M9 Dec 31, 2024+166.1%
Loans, net of allowance$881.9M9 Dec 31, 2025$985.9M9 Dec 31, 2024−10.5%
Deposits held (banks)$1.2B9 Dec 31, 2025$1.1B9 Dec 31, 2024+3.6%

Properties, in its own words

The following table contains information concerning the current locations of the Bank’s full-service banking centers.

Location · Use · Own or Lease · Year First Operated

The rest of Item 2

700 Central AvenueSt. Petersburg, FL 33701 · Corporate andBank Headquarters · Lease · 2017

9190 Seminole BoulevardSeminole, FL 33772 · Banking Center · Lease · 1999

5250 Park BoulevardPinellas Park, FL 33781 · Banking Center · Own · 2006

2520 Countryside BoulevardClearwater, FL 33763 · Banking Center · Lease · 2018

2033 Main Street, Suite 101Sarasota, FL 34237 · Banking Center · Lease · 2018

3015 West Columbus DriveTampa, FL 33607 · Banking Center · Own · 2020

401 N. Indian Rocks RoadBelleair Bluffs, FL 33770 · Banking Center · Own · 2021

2102 59th Street WestBradenton, FL 34209 · Banking Center · Own · 2022

16002 N. Dale Mabry HighwayTampa, FL 33618 · Banking Center · Own · 2023

5600 Bee Ridge RoadSarasota, FL 34233 · Banking Center · Own · 2023

1782 Dr. Martin Luther King WaySarasota, FL 34240 · Banking Center · Own · 2023

2075 S. Tamiami TrailSarasota, FL 34239 · Banking Center · Own · 2024

Item 2 of the 10-K filed Mar 27, 2026.4

Leadership

Who has led BayFirst Financial Corp., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (24)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorBradley Spoor named May 5, 202643
  • DirectorChristos Politis named May 5, 202643

Timeline

  1. Sep 30, 20268-K Regulation FD disclosure44
  2. Sep 29, 20268-K Executive or director change45
  3. Sep 24, 20268-K Shareholder vote46
  4. Sep 1, 20268-K Other events47
  5. Aug 27, 20268-K Executive or director change48
  6. Aug 18, 20268-K Regulation FD disclosure49
  7. Aug 13, 20268-K Results of operations; Regulation FD disclosure50
  8. Jul 28, 20268-K Regulation FD disclosure51
  9. Jul 16, 20268-K Change in control; Bylaws or fiscal year changed; Shareholder vote52
  10. Jul 15, 20268-K Results of operations; Earlier financial statements no longer reliable53
  11. Jun 30, 20268-K Regulation FD disclosure54
  12. May 21, 2026New chief executive Alfred Tate Rogers Jr. becomes CEO13
  13. May 21, 20268-K Executive or director change55
  14. Jan 25, 2024New chief executive Thomas Gerard Zernick becomes CEO14
  15. Nov 15, 2021New chief executive Anthony N. Leo becomes CEO15
  16. Jun 23, 2000Founded BayFirst Financial Corp. is founded2

Calendar

Coming up

  1. Oct 29, 2026 · After the closeReports results for the quarter ending Sep/202656

When it reported results

  1. Aug 13, 2026Reported quarterly or annual results50
  2. Jul 15, 2026Reported quarterly or annual results53
  3. Apr 30, 2026Reported quarterly or annual results57
  4. Jan 29, 2026Reported quarterly or annual results58
  5. Oct 30, 2025Reported quarterly or annual results59
  6. Jul 29, 2025Reported quarterly or annual results60
  7. Apr 24, 2025Reported quarterly or annual results61
  8. Jan 30, 2025Reported quarterly or annual results62

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

783 filings to the SEC since October 2021: 6 annual reports, 16 quarterly reports, 105 major events, 614 insider forms, 4 large holders, 1 private raises, 37 other. The latest 20:

  1. Oct 13, 2026SCHEDULE 13D/A EDGAR
  2. Oct 13, 20264 EDGAR
  3. Oct 13, 20264 EDGAR
  4. Oct 13, 20264 EDGAR
  5. Oct 13, 20264 EDGAR
  6. Oct 13, 20264 EDGAR
  7. Oct 13, 20264 EDGAR
  8. Oct 13, 20264 EDGAR
  9. Oct 13, 20264 EDGAR
  10. Oct 13, 20264 EDGAR
  11. Sep 30, 20268-K EDGAR
  12. Sep 29, 20263 EDGAR
  13. Sep 29, 20268-K EDGAR
  14. Sep 24, 20263 EDGAR
  15. Sep 24, 20263 EDGAR
  16. Sep 24, 20263 EDGAR
  17. Sep 24, 20263 EDGAR
  18. Sep 24, 20268-K EDGAR
  19. Sep 9, 20264 EDGAR
  20. Sep 9, 20264 EDGAR

The 783 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

81 open-market trades by officers, directors and large owners since October 2021: 79 buys and 2 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jul 14, 2026Rogers Alfred Tate JrCEO & PresidentSale1,142,800Form 4
May 15, 2025Berset Derek StevenDirectorSale0$14.86$3Form 4
May 1, 2025Zernick Thomas GerardDirectorBuy326$15.28$5.0KForm 4
Feb 6, 2025McKim Scott JosephEVP, Chief Financial OfficerBuy120$16.40$2.0KForm 4
Aug 2, 2024Tudor Rhonda SSVP, Chief Accounting OfficerBuy100$12.86$1.3KForm 4
Jul 31, 2024McKim Scott JosephEVP, Chief Financial OfficerBuy100$12.93$1.3KForm 4
Jul 30, 2024Zernick Thomas GerardDirectorBuy100$13.10$1.3KForm 4
Jul 30, 2024Oliver Robin LeighCOOBuy100$13.00$1.3KForm 4
May 24, 2024Zernick Thomas GerardDirectorBuy200$11.65$2.3KForm 4
May 24, 2024Oliver Robin LeighCOOBuy500$11.79$5.9KForm 4
Feb 29, 2024Zernick Thomas GerardDirectorBuy100$14.00$1.4KForm 4
Dec 8, 2023McKim Scott JosephEVP, Chief Financial OfficerBuy100$11.19$1.1KForm 4
Dec 5, 2023Zernick Thomas GerardDirectorBuy150$11.54$1.7KForm 4
Nov 29, 2023McKim Scott JosephEVP, Chief Financial OfficerBuy100$10.50$1.1KForm 4
Nov 1, 2023LEO ANTHONY NDirectorBuy50$10.45$522Form 4
Oct 31, 2023Zernick Thomas GerardDirectorBuy150$10.00$1.5KForm 4
Oct 31, 2023LEO ANTHONY NDirectorBuy200$9.73$1.9KForm 4
Aug 3, 2023LEO ANTHONY NDirectorBuy125$14.30$1.8KForm 4
Aug 2, 2023LEO ANTHONY NDirectorBuy150$14.50$2.2KForm 4
Aug 1, 2023LEO ANTHONY NDirectorBuy125$14.52$1.8KForm 4

All 81 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Thomas G. Zernick$358.8K$428.1K66
2025Robin L. Oliver$322.4K$394.8K66
2025Scott J. McKim$291.2K$346.4K66
2024Former CEO$345.0K$533.4K66
2024COO$310.0K$451.2K66
2024EVP and CFO$280.0K$344.0K66
2023Former CEO$320.0K$612.3K66
2023COO$280.0K$473.3K66
2023EVP and CFO$120.9K$161.0K66

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Apr 28, 2026Raised $80 million in a private offering of equity Form D: 33 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Vanguard Capital Management LLC150,806$754.0K0.0%+2,171
First Manhattan Co. Llc.132,926$664.6K0.0%+5,000
Banc Funds Co LLC91,679$458.4K0.1%No change
BlackRock, Inc.52,828$264.1K0.0%+1,093
Geode Capital Management, LLC38,775$193.9K0.0%−5,378
Stifel Financial Corp36,673$183.4K0.0%+5,473
Modern Wealth Management, LLC27,661$138.3K0.0%New
Vanguard Fiduciary Trust Co22,215$111.1K0.0%+1,049
LPL Financial LLC19,321$96.6K0.0%+6,500
Renaissance Technologies LLC15,600$78.0K0.0%New
Citadel Advisors LLC13,091$65.5K0.0%+180
Vanguard Global Advisers, LLC1,412$7.1K0.0%No change
Jones Financial Companies Lllp343$1.7K0.0%No change
Morgan Stanley179$8960.0%No change
Barclays PLC16$800.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How BayFirst Financial Corp. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARBayFirst Financial Corp.1
  • CIK0001649739
  • Employer ID (EIN)59-36650794
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inFlorida4
  • Fiscal year endsDecember 311
  • Industry code (SIC)6022 State Commercial Banks1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business address700 Central Avenue, Suite 102, St Petersburg, FL 337011
  • Phone727-399-56001
  • Shares outstanding26,962,815 as of Aug 5, 202611
  • Public float$49.3M as of Jun 30, 20254
  • AuditorForvis Mazars, LLP, Tampa, Florida PCAOB ID 686; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceMay 11, 20211
  • Filings789 in all: 4 (573), 8-K (105), 3 (26), 10-Q (15), 4/A (13), S-1/A (8), CORRESP (7), DEF 14A (6)1
    All 27 form types

    10-K (5), EFFECT (4), S-1 (4), UPLOAD (4), 3/A (2), 424B3 (2), 424B4 (2), 8-A12B (2), 10-K/A (1), 10-Q/A (1), CERT (1), D (1), PRE 14A (1), S-8 (1), S-8 POS (1), SC 13G (1), SCHEDULE 13D (1), SCHEDULE 13D/A (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Mar 27, 2026
    Quarterly report (10-Q) Aug 14, 2026
    Proxy statement (DEF 14A) Aug 19, 2026
    Latest 8-K (8-K) Sep 30, 2026

Securities registered for trading

ClassSymbolExchange
Common stockBAFNThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Mar 27, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks BayFirst Financial Corp. names in Item 1A of its 10-K filed Mar 27, 2026: 50 risks under these headings, as written.4

  • We may need additional capital in the future, but such capital may not be available when needed.
  • Liquidity risk could impair our ability to fund operations and jeopardize our financial condition.
  • Changes in interest rates affect our profitability and assets.
  • Loss of deposits or a change in deposit mix could increase our funding costs and adversely affect our performance.
  • Changes in economic and political conditions could adversely affect our earnings through declines in deposits, loan demand, the ability of our customers to repay loans and the value of the collateral securing our loans.
  • A shutdown of the Federal government would likely result in us being temporarily unable to make USDA government guaranteed loans.
  • Changes in the laws or regulations governing our USDA government guaranteed lending activities may adversely affect our ability to operate them profitably.
  • We may not be able to retain or grow our core deposit base, which could adversely impact our funding costs.
  • Unrealized losses in the Bank’s investment portfolio could affect liquidity.
  • We are dependent on our management team and any of their departure, or subsequent employment with a competitor could adversely affect our operations.
  • We have pledged the outstanding shares of the Bank to secure a loan, and if we cannot repay the loan when due, the lender may foreclose on the loan and take ownership of the Bank.
  • We engage in transactions with our directors and their related interests, which creates the potential for conflicts of interest.
The other 38 risks
  • We may not be able to collect on the guarantees of our SBA or other government guaranteed loans if borrowers default.
  • Our Internet-based systems and online commerce activities are subject to security threats that could adversely affect our business.
  • A failure or breach, including cyberattacks, of our computer systems or other technologies could disrupt our business, result in the disclosure of confidential information, and create significant financial and legal exposure.
  • The development and use of artificial intelligence by us or others, or our inability to effectively and timely implement its use, may adversely affect the Company.
  • The valuation of our SBA and USDA related servicing rights is based on estimates and subject to fluctuation based on market conditions and other factors that are beyond our control.
  • Changes in business and economic conditions, in particular those of the Florida markets in which we operate, could lead to lower asset quality and decreased earnings.
  • Most expansion activities require approval of our regulators, which we may not be able to obtain, or that may impose conditions that we find to be unacceptable.
  • We are subject to numerous laws designed to protect consumers, including the Community Reinvestment Act and fair lending laws, and failure to comply with these laws could lead to material penalties and have negative effects on our business.
  • We may be required to make increases in our credit loss reserve and to charge off loans in the future, which could adversely affect our results of operations.
  • If real estate values in our markets decline, we could experience losses upon foreclosure of the loan or sale of the real estate.
  • Hurricanes or other adverse weather events, as well as climate change, could negatively affect our local economies or disrupt our operations, which could have an adverse effect on our business and results of operations.
  • The Florida property insurance market is in crisis and the inability of our borrowers to obtain insurance on properties securing our loans may adversely affect the value of the collateral, the performance of our loan portfolio, and our ability to make loans secured by real estate.
  • Public health emergencies could hurt our business.
  • Our loan portfolio includes a material amount of commercial real estate and commercial and industrial loans.
  • Our use of appraisals in deciding whether to make a loan secured by real property or how to value the loan in the future may not accurately describe the net value of the collateral that we can realize.
  • We operate in a highly competitive industry and market area.
  • We may face risks with respect to future expansion.
  • We are subject to government regulation and monetary policy that could constrain our growth and profitability.
  • Legislation and regulatory proposals enacted in response to market and economic conditions may materially adversely affect our business and results of operations.
  • Inflation could negatively impact our business and our profitability.
  • An economic downturn could have a material adverse effect on our capital, financial condition, results of operations, and future growth.
  • We may incur losses if asset values decline, including due to changes in interest rates and prepayment speeds.
  • Technological changes, including online and mobile banking, have the potential of disrupting our business model, and we may have fewer resources than many competitors to invest in technological improvements.
  • Changes in accounting standards may affect our performance.
  • We face risks related to our operational, technological, and organizational infrastructure.
  • Risks Related to Our Securities
  • A vibrant public trading market for our common stock has not and may not develop, which may hinder your ability to sell the common stock and may lower the market price of the stock.
  • Shareholders may face dilution resulting from the issuance of common stock in the future.
  • The price of our common stock could be volatile.
  • Owning our stock will not give you the right to participate in any future offerings of our capital stock and your ownership could be diluted.
  • Management has broad discretion concerning the use of our capital.
  • If equity research analysts do not publish research or reports about our business, or if they do publish such reports but issue unfavorable commentary or downgrade our common stock, the price and trading volume of our common stock could decline.
  • Our Board of Directors owns a significant percentage of our shares and will be able to make decisions to which you may be opposed.
  • We have outstanding preferred stock and our Board may authorize the issuance of additional series of preferred stock.
  • BayFirst has outstanding debt and either BayFirst or the Bank may incur additional debt.
  • We are restricted by law and government policy in our ability to pay dividends to our shareholders.
  • We are an emerging growth company, and the reduced disclosure requirements applicable to emerging growth companies may make our common stock less attractive to investors.
  • We are a smaller reporting company and are exempt from certain disclosure requirements, which could make our common stock less attractive to potential investors.
  • Certain provisions of Florida and federal law may discourage or prevent a takeover of BayFirst and result in a lower market price for our common stock.

Legal proceedings

In the normal course of business, the Company is named or threatened to be named as a defendant in various lawsuits, none of which is expected to have a material effect on the Company. However, given the nature, scope and complexity of the extensive legal and regulatory landscape applicable to its business (including laws and regulations governing consumer protection, fair lending, fair labor, privacy, information security, anti-money laundering and anti-terrorism), the Company, like all banking organizations, is subject to heightened legal and regulatory compliance and litigation risk. There are no material pending legal proceedings, other than ordinary routine litigation incidental to the business, to which the Company is a party or to which its property is the subject.

The opening of Item 3, Legal Proceedings.4

Sources

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