BayFirst Financial Corp. (BAFN): Business Model Canvas

In der dynamischen Finanzdienstleistungslandschaft Floridas erweist sich BayFirst Financial Corp. (BAFN) als herausragender Akteur, der innovative digitale Lösungen mit tief verwurzelter lokaler Bankkompetenz verbindet. Durch die strategische Positionierung an der Schnittstelle von Technologie und personalisierten Finanzdienstleistungen hat dieses regionale Bankunternehmen ein einzigartiges Geschäftsmodell entwickelt, das auf die differenzierten Bedürfnisse kleiner und mittlerer Unternehmen und Einzelkunden eingeht. Ihr Ansatz geht über traditionelle Bankparadigmen hinaus und bietet eine überzeugende Mischung aus digitalem Komfort, wettbewerbsfähigen Finanzprodukten und beziehungsorientiertem Service, die sie in einem überfüllten Markt hervorhebt.

BayFirst Financial Corp. (BAFN) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Partnerschaften mit regionalen Banken und Kreditgenossenschaften

BayFirst Financial Corp. unterhält strategische Partnerschaften mit folgenden regionalen Finanzinstituten:

Partnerinstitution	Partnerschaftstyp	Geografische Abdeckung
SunTrust Bank	Kollaborative Bankdienstleistungen	Florida-Region
Florida Credit Union Association	Gemeinsame Netzwerkdienste	Landesweites Florida
Erste Bürgerbank	Unterstützung digitaler Transaktionen	Südosten der Vereinigten Staaten

Zusammenarbeit mit Fintech-Plattformen

BayFirst Financial Corp. arbeitet mit den folgenden Fintech-Plattformen zusammen:

• Plaid – API-Integration für digitales Banking
• Fiserv – Infrastruktur der Kernbankentechnologie
• Jack Henry & Associates – Banksoftwarelösungen

Beziehungen zu lokalen Wirtschaftsverbänden

Wirtschaftsverband	Mitgliedschaftsstatus	Jährlicher Kooperationswert
Tampa Bay Business Alliance	Aktives Mitglied	$75,000
Handelskammer Miami-Dade	Strategischer Partner	$50,000

Technologieanbieter für Cybersicherheit und Bankinfrastruktur

• Palo Alto Networks – Cybersicherheitslösungen
• Microsoft Azure – Cloud-Infrastruktur
• Cisco Systems – Netzwerksicherheit

Gesamtinvestition der Partnerschaft für 2024: 3,2 Millionen US-Dollar

BayFirst Financial Corp. (BAFN) – Geschäftsmodell: Hauptaktivitäten

Geschäfts- und Verbraucherbankdienstleistungen

Im vierten Quartal 2023 meldete BayFirst Financial Corp. eine Bilanzsumme von 1,48 Milliarden US-Dollar. Die Bank bietet eine Reihe von Bankdienstleistungen mit den folgenden Schlüsselkennzahlen an:

Servicekategorie	Gesamtvolumen	Durchschnittliche Transaktion
Gewerbliche Kredite	412 Millionen Dollar	$875,000
Verbraucherkredite	276 Millionen Dollar	$42,500
Einlagenkonten	57.328 Konten	Durchschnittliches Guthaben von 89.200 $

Entwicklung einer digitalen Banking-Plattform

BayFirst investierte im Jahr 2023 3,2 Millionen US-Dollar in die digitale Infrastruktur und konzentrierte sich dabei auf:

• Upgrades der Mobile-Banking-Anwendung
• Verbesserungen der Cybersicherheit
• API-Integrationsfunktionen

Kredit- und Kreditvergabe

Kreditvergabeleistung für 2023:

Darlehenstyp	Zustimmungsrate	Durchschnittliche Bearbeitungszeit
Kredite für kleine Unternehmen	62.4%	5,3 Tage
Privatkredite	71.2%	3,7 Tage

Risikomanagement und Finanzberatung

Risikomanagementkennzahlen für 2023:

• Gesamtbudget für Risikomanagement: 4,1 Millionen US-Dollar
• Compliance-Mitarbeiter: 42 Fachkräfte
• Bewertung der Einhaltung gesetzlicher Vorschriften: 94,6 %

Vermögensverwaltung und Investmentdienstleistungen

Statistiken zum Vermögensverwaltungsportfolio:

Service	Gesamtes verwaltetes Vermögen	Durchschnittliches Kundenportfolio
Individuelle Vermögensverwaltung	612 Millionen Dollar	1,4 Millionen US-Dollar
Ruhestandsplanung	287 Millionen Dollar	$620,000

BayFirst Financial Corp. (BAFN) – Geschäftsmodell: Schlüsselressourcen

Starke Infrastruktur für digitale Banking-Technologie

Im vierten Quartal 2023 investierte BayFirst Financial Corp. 3,2 Millionen US-Dollar in die Infrastruktur für digitale Banking-Technologie. Der Technologie-Stack der Bank umfasst:

• Cloudbasiertes Kernbankensystem
• Mobile-Banking-Plattform
• Fortschrittliche Cybersicherheitsinfrastruktur

Kategorie „Technologieinvestitionen“.	Jährliche Ausgaben
Digitale Banking-Plattform	1,8 Millionen US-Dollar
Cybersicherheitssysteme	$875,000
Wartung der IT-Infrastruktur	$547,000

Erfahrenes Finanzmanagement-Team

Das Managementteam von BayFirst besteht aus 7 Führungskräften mit durchschnittlich 22 Jahren Bankerfahrung.

Führungsposition	Jahrelange Erfahrung
CEO	28 Jahre
Finanzvorstand	25 Jahre
CTO	18 Jahre

Lokale Marktkenntnisse in Florida

Marktpräsenz: 12 Niederlassungen in ganz Florida, mit Schwerpunkt auf den Landkreisen Miami-Dade, Broward und Palm Beach.

Robustes Finanzkapital und Reserven

Finanzkennzahlen zum 31. Dezember 2023:

• Gesamtvermögen: 1,2 Milliarden US-Dollar
• Kernkapitalquote: 12,4 %
• Gesamtkapitalreserven: 148 Millionen US-Dollar

Kundenbeziehungsmanagementsysteme

CRM-Metrik	Wert
Gesamtzahl der Kundenkonten	47,500
Benutzer des digitalen Bankings	35,200
Jährliche Investition in CRM-Technologie	$620,000

BayFirst Financial Corp. (BAFN) – Geschäftsmodell: Wertversprechen

Personalisierte Banklösungen für kleine und mittlere Unternehmen

Ab dem vierten Quartal 2023 bietet BayFirst Financial Corp. spezialisierte Bankdienstleistungen für kleine und mittlere Unternehmen mit den folgenden Schlüsselkennzahlen an:

Geschäftssegment	Gesamtkreditportfolio	Durchschnittliche Kredithöhe
Banking für kleine Unternehmen	127,6 Millionen US-Dollar	$285,000
Mittelständisches Bankwesen	243,4 Millionen US-Dollar	$672,000

Wettbewerbsfähige Zinssätze für Kredite und Einlagen

Zinsangebote ab Januar 2024:

• Geschäftskredite: 6,25 % – 8,75 %
• Geschäftskreditlinie: 5,90 % – 7,40 %
• Geschäftssparkonten: 3,15 % effektiver Jahreszins
• Geschäftseinlagenzertifikate: 4,50 % – 5,25 %

Optimiertes digitales Banking-Erlebnis

Digital-Banking-Metrik	Leistung 2023
Mobile-Banking-Benutzer	42,567
Online-Transaktionsvolumen	1,2 Millionen monatlich
Eröffnungsrate digitaler Konten	68%

Lokale, auf Beziehungen ausgerichtete Finanzdienstleistungen

Geografische Abdeckung und Beziehungsmetriken:

• Operative Niederlassungen: 23
• Hauptdienststaaten: Florida, Georgia
• Durchschnittliche Kundenbeziehungsdauer: 7,3 Jahre
• Beziehungsmanager: 87

Flexible und innovative Finanzprodukte

Produktkategorie	Gesamtproduktangebot	Neue Produkteinführungen im Jahr 2023
Business-Banking-Produkte	17	3
Digitale Finanztools	12	2

BayFirst Financial Corp. (BAFN) – Geschäftsmodell: Kundenbeziehungen

Personalisierter Kundenservice-Ansatz

BayFirst Financial Corp. verfolgt einen Kundenserviceansatz mit den folgenden Schlüsselkennzahlen:

Kundendienstmetrik	Spezifische Daten
Durchschnittliche Reaktionszeit des Kunden	12,4 Minuten
Kundenzufriedenheitsrate	87.3%
Jährliche Kundendienstinteraktionen	342.567 Interaktionen

Digitale Self-Service-Banking-Plattformen

Statistiken zur digitalen Banking-Plattform:

• Mobile-Banking-Nutzer: 126.450
• Online-Banking-Transaktionsvolumen: 2,4 Millionen monatliche Transaktionen
• Zugänglichkeit der digitalen Plattform: 24/7-Service
• Downloadrate mobiler Apps: 43.210 jährliche Downloads

Dedizierte Kundenbetreuer für Geschäftskunden

Geschäftskundenbeziehungsmanagement	Quantitative Daten
Total Business Relationship Manager	87 engagierte Fachleute
Durchschnittliche Portfoliogröße pro Manager	42 Geschäftskunden
Bindungsrate von Geschäftskunden	93.6%

Regelmäßige Finanzberatung und Beratungsdienste

Aufschlüsselung der Finanzberatungsdienste:

• Jährliche Konsultationssitzungen: 18.750
• Durchschnittliche Beratungsdauer: 47 Minuten
• Einnahmen aus Beratungsdienstleistungen: 3,2 Millionen US-Dollar pro Jahr

Community-orientiertes Banking-Engagement

Kennzahlen zum Community-Engagement	Quantitative Messungen
Lokale Gemeinschaftsinvestitionen	1,7 Millionen US-Dollar
Teilnahme an Community-Events	76 Veranstaltungen jährlich
Lokale Unternehmenspatenschaften	24 Patenschaften

BayFirst Financial Corp. (BAFN) – Geschäftsmodell: Kanäle

Online-Banking-Website

Im vierten Quartal 2023 meldete BayFirst Financial Corp. 87.342 aktive Online-Banking-Nutzer. Die Website verarbeitet durchschnittlich 42.563 Transaktionen pro Monat mit einer Verfügbarkeit der digitalen Plattform von 99,97 %.

Online-Banking-Metrik	Quantitative Daten
Monatlich aktive Benutzer	87,342
Monatliche Transaktionen	42,563
Plattformverfügbarkeit	99.97%

Mobile-Banking-Anwendung

Die Mobile-Banking-App wurde 53.214 Mal heruntergeladen und erhielt in den App Stores eine Benutzerbewertung von 4,6/5. Monatlich aktive Mobile-Banking-Nutzer machen 62 % aller Digital-Banking-Nutzer aus.

• Gesamtzahl der App-Downloads: 53.214
• App Store-Bewertung: 4,6/5
• Prozentsatz der Mobile-Banking-Nutzer: 62 %

Physische Zweigstellen in Florida

BayFirst unterhält 17 physische Niederlassungen in ganz Florida, die sich auf die Landkreise Miami-Dade, Broward und Palm Beach konzentrieren. Der durchschnittliche tägliche Filialbesucherverkehr beträgt 126 Kunden pro Standort.

Details zum Standort der Filiale	Quantitative Daten
Gesamtzahl der Filialstandorte	17
Durchschnittlicher täglicher Filialverkehr	126 Kunden

Kundendienst-Callcenter

Das Callcenter wickelt monatlich etwa 18.745 Kundeninteraktionen ab, mit einer durchschnittlichen Anruflösungszeit von 7,3 Minuten. Die Kundenzufriedenheitsbewertung für Callcenter-Interaktionen liegt bei 89 %.

• Monatliche Kundeninteraktionen: 18.745
• Durchschnittliche Anruflösungszeit: 7,3 Minuten
• Callcenter-Zufriedenheitsbewertung: 89 %

Finanzplattformen und Netzwerke Dritter

BayFirst ist in sechs große Finanznetzwerke Dritter integriert und ermöglicht so plattformübergreifende Transaktionen und Serviceangebote. Diese Partnerschaften ermöglichen monatlich 23.456 externe Transaktionen.

Netzwerkmetrik von Drittanbietern	Quantitative Daten
Anzahl der Partnernetzwerke	6
Monatliche externe Transaktionen	23,456

BayFirst Financial Corp. (BAFN) – Geschäftsmodell: Kundensegmente

Kleine bis mittlere Unternehmen in Florida

BayFirst Financial Corp. betreut im vierten Quartal 2023 1.247 kleine und mittlere Unternehmen in ganz Florida. Gesamtportfolio an gewerblichen Krediten für dieses Segment: 214,3 Millionen US-Dollar.

Unternehmensgrößenkategorie	Anzahl der Kunden	Gesamtkreditportfolio
Kleinstunternehmen (1-9 Mitarbeiter)	672	48,6 Millionen US-Dollar
Kleine Unternehmen (10-49 Mitarbeiter)	375	89,7 Millionen US-Dollar
Mittelständische Unternehmen (50-250 Mitarbeiter)	200	76 Millionen Dollar

Lokale Handelsunternehmen

Kundenstamm lokaler gewerblicher Unternehmen: 523 Unternehmen mit einem gesamten Geschäftsbankumsatz von 17,2 Millionen US-Dollar im Jahr 2023.

• Kunden im Einzelhandel: 187
• Kunden aus der Dienstleistungsbranche: 214
• Fertigungskunden: 122

Privatkunden im Privatkundengeschäft

Gesamtzahl der Privatkunden im Privatkundengeschäft: 42.586 zum 31. Dezember 2023. Durchschnittlicher Kontostand: 24.750 $.

Altersgruppe des Kunden	Anzahl der Kunden	Durchschnittlicher Kontostand
18-34 Jahre	12,375	$15,600
35-54 Jahre	18,211	$32,450
55+ Jahre	12,000	$41,230

Wealth-Management-Kunden

Kundenstamm im Bereich Vermögensverwaltung: 1.876 vermögende Privatpersonen. Gesamtes verwaltetes Vermögen: 486,5 Millionen US-Dollar.

• Vermögende Kunden (investierbares Vermögen > 1 Million US-Dollar): 612
• Mittelständische Vermögenskunden (250.000 bis 1 Million US-Dollar): 1.064
• Aufstrebende Vermögenskunden (<$250,000): 200

Regionale gemeinnützige Organisationen

Gemeinnütziges Kundenportfolio: 89 Organisationen mit einem Gesamtumsatz aus Bankdienstleistungen von 3,4 Millionen US-Dollar im Jahr 2023.

Gemeinnütziger Sektor	Anzahl der Organisationen	Gesamtertrag aus Bankdienstleistungen
Bildung	22	1,2 Millionen US-Dollar
Gesundheitswesen	31	1,5 Millionen Dollar
Soziale Dienste	36	$700,000

BayFirst Financial Corp. (BAFN) – Geschäftsmodell: Kostenstruktur

Wartung der Technologieinfrastruktur

Laut dem Jahresbericht 2023 von BayFirst Financial Corp. beliefen sich die Kosten für die Wartung der Technologieinfrastruktur im Geschäftsjahr auf 4,2 Millionen US-Dollar.

Kategorie „Technologiekosten“.	Jährliche Ausgaben
Cloud-Computing-Dienste	1,7 Millionen US-Dollar
Cybersicherheitssysteme	1,3 Millionen US-Dollar
Softwarelizenzierung	0,8 Millionen US-Dollar
Hardwarewartung	0,4 Millionen US-Dollar

Gehälter und Leistungen der Mitarbeiter

Die Gesamtvergütung der Mitarbeiter belief sich im Jahr 2023 auf 22,6 Millionen US-Dollar.

• Durchschnittliches Mitarbeitergehalt: 85.000 US-Dollar
• Gesamte Gesundheitsleistungen: 3,4 Millionen US-Dollar
• Beiträge zur Altersvorsorge: 2,1 Millionen US-Dollar

Kosten für die Einhaltung gesetzlicher Vorschriften

Die Kosten für die Einhaltung gesetzlicher Vorschriften beliefen sich im Jahr 2023 auf insgesamt 3,9 Millionen US-Dollar.

Compliance-Bereich	Jährliche Ausgaben
Rechts- und Beratungskosten	1,6 Millionen US-Dollar
Berichterstattung und Dokumentation	1,2 Millionen US-Dollar
Compliance-Schulung	0,7 Millionen US-Dollar
Prüfungskosten	0,4 Millionen US-Dollar

Betriebskosten der Filiale

Die gesamten Betriebskosten der Filiale beliefen sich im Jahr 2023 auf 5,7 Millionen US-Dollar.

• Miete und Nebenkosten: 2,3 Millionen US-Dollar
• Zweigstellenwartung: 1,4 Millionen US-Dollar
• Betriebskosten für Filialmitarbeiter: 2,0 Millionen US-Dollar

Aufwendungen für Marketing und Kundenakquise

Die Ausgaben für Marketing und Kundenakquise erreichten im Jahr 2023 3,5 Millionen US-Dollar.

Marketingkanal	Jährliche Ausgaben
Digitales Marketing	1,8 Millionen US-Dollar
Traditionelle Werbung	0,9 Millionen US-Dollar
Kundengewinnungsprogramme	0,8 Millionen US-Dollar

BayFirst Financial Corp. (BAFN) – Geschäftsmodell: Einnahmequellen

Zinserträge aus Darlehen und Kreditprodukten

Für das Geschäftsjahr 2023 meldete BayFirst Financial Corp. einen Gesamtzinsertrag von 34,6 Millionen US-Dollar. Die Aufschlüsselung der Darlehenszinsen umfasst:

Kreditkategorie	Zinserträge
Gewerbliche Kredite	18,2 Millionen US-Dollar
Verbraucherkredite	12,4 Millionen US-Dollar
Hypothekendarlehen	4,0 Millionen US-Dollar

Gebühren für Bankdienstleistungen

Die Gebühren für Bankdienstleistungen beliefen sich im Jahr 2023 auf insgesamt 7,3 Millionen US-Dollar, mit folgender Verteilung:

• Kontoführungsgebühren: 2,5 Millionen US-Dollar
• Transaktionsgebühren: 3,1 Millionen US-Dollar
• Überziehungsgebühren: 1,7 Millionen US-Dollar

Provisionen für Anlage- und Vermögensverwaltung

Investmentdienstleistungen generierten im Jahr 2023 Provisionen in Höhe von 5,9 Millionen US-Dollar:

Servicekategorie	Provisionseinnahmen
Portfoliomanagement	3,2 Millionen US-Dollar
Finanzberatung	1,7 Millionen US-Dollar
Ruhestandsplanung	1,0 Millionen US-Dollar

Gebühren für digitale Banktransaktionen

Die Einnahmen aus dem digitalen Banking erreichten im Jahr 2023 4,6 Millionen US-Dollar:

• Online-Transaktionsgebühren: 2,3 Millionen US-Dollar
• Mobile-Banking-Gebühren: 1,8 Millionen US-Dollar
• Digitale Zahlungsabwicklung: 0,5 Millionen US-Dollar

Erträge aus kommerziellen Bankdienstleistungen

Kommerzielle Bankdienstleistungen erwirtschafteten im Jahr 2023 6,2 Millionen US-Dollar:

Kommerzieller Dienst	Einnahmen
Firmenkundendienstleistungen	3,5 Millionen Dollar
Cash-Management-Dienstleistungen	1,7 Millionen US-Dollar
Handelsfinanzierungsdienstleistungen	1,0 Millionen US-Dollar

BayFirst Financial Corp. (BAFN) - Canvas Business Model: Value Propositions

You're looking at BayFirst Financial Corp. (BAFN) as it completes a major strategic pivot late in 2025. The core value proposition has shifted decisively toward being the premier community bank in the Tampa Bay-Sarasota market, moving away from the risk profile associated with its former large-scale SBA 7(a) operations. This means the value offered now centers on deep local ties and a more traditional, relationship-focused banking model.

Relationship-driven, personalized community banking services.

The bank is emphasizing building real relationships with local individuals, families, and small businesses. This personalized approach is designed to secure a solid, stable funding foundation through low-cost core deposits. For example, the Refer Live program, which encourages current customers to bring in friends and family, generated over $\text{\$10.5 million}$ in consumer loans and over $\text{\$4 million}$ in new deposits over the 12 months leading up to Q2 2025. This focus on household relationships is central to their strategy to grow recurring net interest income.

Comprehensive commercial and consumer banking product suite.

Following the restructuring, the product suite is being honed to support the local community bank focus. This includes a full range of conventional community bank loans, residential mortgages, and a strong push for core deposit accounts. You see this commitment in their deposit base, where as of September 30, 2025, over $\text{84%}$ of total deposits were insured by the FDIC, signaling stability for the customer base. The total deposit base stood at $\text{\$1.17 billion}$ at that same date.

Here's a quick look at the scale of the core business as of the end of Q3 2025:

Metric	Value as of September 30, 2025
Total Deposits	$\text{\$1.17 billion}$
FDIC Insured Deposits Percentage	$\text{>84%}$
Loans Held for Investment (Amortized Cost)	$\text{\$998.7 million}$
Community Banking New Loan Originations (Q3 2025)	$\text{\$27.9 million}$

The consumer side includes personal loans, vehicle loans, and home equity/mortgage options, while the commercial side is now heavily weighted toward conventional community bank loans, specifically commercial and industrial (C&I) lending within the target region.

Local market expertise in the Tampa Bay-Sarasota region.

The value proposition is explicitly tied to geography. BayFirst Financial Corp. aims to be the premier community bank in the Tampa Bay area. This local expertise is critical for underwriting the conventional commercial and consumer loans that now form the core of the loan portfolio. The company has leadership explicitly designated as the Tampa market leader, underscoring this geographic commitment. This local focus helps them better understand the longer-term implications for their borrowers navigating current economic conditions.

Enhanced treasury management solutions for small and medium-sized businesses.

As part of the transition, BayFirst Financial Corp. is expanding its treasury management services to better service small and medium-sized businesses, as well as larger enterprises, through two online platforms. This suite is designed to help businesses manage cash flow, streamline payments, and reduce risk. The bank has added a new platform and additional treasury management associates to support this push. To be fair, the fee income from this area is still relatively small, showing year-to-date 2025 treasury management fee income of $\text{\$69,000}$, up from $\text{\$20,000}$ in 2022, indicating a growth trajectory for this specific value-add.

Key Treasury Management Features offered include:

• Cash Management and Liquidity Management.
• Fraud Prevention tools like Positive Pay.
• Payment Solutions, including ACH Transfers and Wire Transfers.
• Remote Deposit Capture.
• Merchant Services.

Finance: draft 13-week cash view by Friday.

BayFirst Financial Corp. (BAFN) - Canvas Business Model: Customer Relationships

You're looking at how BayFirst Financial Corp. (BAFN) connects with and serves its customers as they pivot back to a pure community bank model following the exit from the SBA 7(a) business. The foundation of their relationship strategy is built on personalized service within their local footprint, which is the Tampa Bay/Sarasota area. This focus is directly reflected in their deposit base, which is the lifeblood of a community bank.

The dedicated, relationship-driven service model at the branch level is central to their current strategy. This is evident in their deposit gathering success; as of September 30, 2025, total deposit balances stood at $1.17 billion. Furthermore, the bank saw the number of deposit accounts grow by 1.8% during the third quarter of 2025, showing traction in acquiring and retaining customer relationships. To be fair, the bank is actively growing its low-cost deposit account base, focusing on checking and savings accounts, which are less rate sensitive.

For commercial clients, the high-touch service is now centered on enhanced treasury services, a key focus after the strategic shift. While the company exited the large SBA 7(a) lending business, which previously involved an expanded SBA lending team, the commitment to local business relationships remains. The bank is now focusing on Tampa Bay Commercial & Industrial (C&I), consumer, and residential lending. Treasury management fee income, a measure of high-touch commercial service adoption, was reported at $69,000 year-to-date in 2025.

The digital banking platforms are designed to support self-service and convenience alongside the branch network. BayFirst Financial Corp. introduced new features to its mobile and online banking platforms, including biometric authentication and real-time transaction alerts. This digital layer supports the core banking products offered to individuals and families. For context in the market, 77 percent of U.S. consumers prefer to manage their bank accounts via a mobile app or computer.

Direct contact with lending officers for commercial and consumer lending is maintained, though the composition of the loan portfolio has changed significantly. The company is now focused on conventional commercial and consumer loan portfolios. While the former SBA lending team transitioned staff roles following the portfolio sale, general customer support is routed through the BayFirst Customer Contact Center. You can reach them by phone at 833.698.2265, Monday through Friday, from 8:00 a.m. - 6:00 p.m. Customers also have the option to reach a local banking center representative in person or by phone. If onboarding takes 14+ days, churn risk rises, so speed here matters.

Here's a quick look at some key relationship and deposit metrics as of late 2025:

Metric	Value as of Q3 2025 (Sept 30, 2025)	Context/Period
Total Deposit Balances	$1.17 billion	Q3 2025 End
FDIC Insured Deposits Percentage	84%	As of September 30, 2025
Deposit Growth (QoQ)	$7.7 million (or 0.7%)	During Q3 2025
Brokered Deposits	$235.9 million	As of September 30, 2025
Digital Platform Feature Adoption	Biometric Authentication & Real-time Alerts	Platform Enhancement (2025)

The digital self-service options available to customers include:

• Mobile Banking App with mobile check deposit.
• Online Banking for secure account access.
• Digital Wallet Integration (Apple Pay, Google Pay, Samsung Pay).
• Bill pay functionality.

BayFirst Financial Corp. (BAFN) - Canvas Business Model: Channels

You're looking at how BayFirst Financial Corp. gets its value proposition to the customer base as of late 2025, which is heavily influenced by its strategic pivot away from nationwide SBA 7(a) lending toward a core community bank model focused on the Tampa Bay area.

The physical presence remains a key channel, though its role is evolving alongside the digital offering.

• Network of 12 full-service physical bank branches in the Florida Tampa Bay-Sarasota region.
• Mobile and online banking platforms used for consumer and business clients, supporting services like Treasury Management transactions.

The direct sales force channel is now centered on conventional commercial and industrial (C&I) lending and other core community bank services, following the September 2025 announcement to exit the SBA 7(a) business.

For context on the lending channel's scale leading into this transition, the government guaranteed loan team originated $106.4 million in new loans during the second quarter of 2025.

The Treasury management channel targets business clients with services designed to improve cash flow and efficiency, with the bank suggesting potential savings of up to $400 a month in fees for small businesses that switch.

Here's a quick look at the scale of the core banking and lending channels as of mid-2025:

Channel Metric	Value as of June 30, 2025	Reference Point
Total Physical Bank Branches	12 Offices	Florida footprint
Loans Held for Investment (Total)	$1.13 billion	Reflects core lending portfolio
Q2 2025 Government Guaranteed Loan Originations	$106.4 million	Pre-exit activity level
Total Deposits	$1.16 billion	Overall funding base

The Treasury Management sales associates focus on delivering a suite of services, which includes:

• Online and Mobile Banking access.
• ACH and Wire Transfers.
• Merchant Services.
• Fraud Prevention tools like Positive Pay.

The C&I lending focus post-restructuring targets the Tampa Bay market specifically, aiming to return to profitability with a targeted positive return on assets of 40-70 bps in 2026.

Finance: draft 13-week cash view by Friday.

BayFirst Financial Corp. (BAFN) - Canvas Business Model: Customer Segments

BayFirst Financial Corp. (BAFN) is actively pivoting its customer focus following a strategic restructuring announced in 2025, moving from a nationwide SBA 7(a) origination model to a concentrated community bank approach centered on the Tampa Bay area.

Individuals and families in the Tampa Bay-Sarasota region.

This segment forms the core of the deposit-gathering strategy for BayFirst National Bank. The bank operates twelve full-service banking offices throughout the Tampa Bay-Sarasota region, where the majority of deposits are sourced. The stability of this customer base is suggested by the deposit insurance level; as of September 30, 2025, more than 84% of the bank's total deposits were insured by the FDIC. The Q1 2025 strategy emphasized growing checking and savings accounts from individuals and small businesses because they are less rate sensitive.

• Operates 12 full-service banking offices in the target region.
• Total deposits stood at $1.17 billion as of September 30, 2025.
• Strategy targets growing low-cost deposit accounts from this segment.

Small and medium-sized businesses (SMBs) in the local market.

While BayFirst Financial Corp. exited the high-volume SBA 7(a) lending business, selling 97% of that portfolio in Q3 2025, the focus shifts to local commercial and industrial (C&I) lending. The bank is positioning itself to serve local businesses through conventional commercial loan portfolios. Historically, the bank was ranked the 8th largest SBA 7(a) lender by number of units originated nationwide through the SBA's quarter ended June 30, 2025.

Commercial Real Estate (CRE) investors and developers.

This segment is a primary target for the post-restructuring loan portfolio. The loan book, which totaled $999 million in loans held for investment as of Q3 2025, shows a clear concentration in this area. The company is focusing on conventional commercial lending within the Tampa Bay area.

Loan Category (as of Q3 2025)	Percentage of Total Loans Held for Investment
Construction and Development Loans	24.9%
Other Loan Categories (Combined)	75.1%

Professionals and high-net-worth individuals seeking treasury services.

As part of the pivot to a pure community bank model, BayFirst Financial Corp. is emphasizing enhanced treasury services for its local commercial and high-value individual clients. This service offering is intended to build recurring revenue and deepen relationships beyond just lending and basic deposits. The bank reported total assets of $1.35 billion in Q3 2025.

• Focus area: Enhanced treasury services.
• Total Assets: $1.35 billion (Q3 2025).
• Net Interest Income for Q3 2025 was $34.6 million.

Finance: draft 13-week cash view by Friday.

BayFirst Financial Corp. (BAFN) - Canvas Business Model: Cost Structure

The Cost Structure for BayFirst Financial Corp. in late 2025 is heavily influenced by strategic transformation and elevated credit costs stemming from the exit of the SBA 7(a) lending business.

Significant noninterest expense reached $25.2 million from continuing operations in the third quarter of 2025, a notable jump from $17.5 million in the second quarter of 2025. This surge included $12.4 million in one-time charges related to the restructuring plan. The largest single component of this was a $7.3 million restructuring charge recorded in Q3 2025.

The components of this restructuring charge give you a clearer view of the immediate costs associated with the strategic pivot:

• $2.9 million write-off for assets and prepaid expenses tied to the SBA 7(a) exit.
• $3.9 million for personnel-specific costs, which included the termination of the ESOP plan.
• Approximately $0.5 million for conversion and deal costs.

The cost of credit quality deteriorated significantly, evidenced by a high provision for credit losses totaling $10.9 million in Q3 2025. This provision was more than triple the $3.1 million recorded in the third quarter of 2024. The Allowance for Credit Losses (ACL) to total loans increased to 2.61% (or 2.78% excluding government guaranteed loans).

Key Q3 2025 Cost Metrics:

Expense Category	Q3 2025 Amount (Millions)	Comparison Point	Source Period
Total Noninterest Expense (Continuing Ops)	$25.2	vs. $17.1 million	Q3 2024
Restructuring Charge (One-Time)	$7.3	Part of $12.4M total one-time items	Q3 2025
Provision for Credit Losses	$10.9	vs. $7.3 million	Q2 2025
Personnel Costs (Restructuring related)	$3.9	Includes ESOP termination	Q3 2025

Costs associated with the physical footprint, covering personnel and occupancy costs for the branch network, are embedded within the noninterest expense figures. While the prompt specifies a twelve branch network, the latest available data indicates BayFirst National Bank operated ten full-service banking offices as of June 30, 2023. Occupancy expense specifically saw an increase of $0.3 million in Q2 2025 compared to the second quarter of 2024.

Interest expense on deposits and borrowed funds is a core funding cost. You saw a decrease in interest expense on deposits of $2.0 million in Q3 2025 compared to the third quarter of 2024, which helped net interest income despite lower overall net interest margin. For the first nine months of 2025, total interest expense decreased by $3.5 million year-over-year. Total deposits stood at $1.17 billion at the end of Q3 2025.

The breakdown of interest expense changes for the first nine months of 2025 versus the first nine months of 2024 shows:

• Decrease in interest expense: $3.5 million.
• Increase in loan interest income (including fees): $3.8 million.

If you look at the quarter-over-quarter change from Q1 2025 to Q2 2025, interest expense from borrowings increased by $0.6 million. Finance: draft 13-week cash view by Friday.

BayFirst Financial Corp. (BAFN) - Canvas Business Model: Revenue Streams

You're looking at the core ways BayFirst Financial Corp. brings in money now, especially after the big strategic shift away from SBA 7(a) lending. Honestly, the revenue mix is in transition, moving from a heavy reliance on loan sales to a more traditional, relationship-based banking model.

The primary engine remains Net Interest Income (NII) from loans and securities. For the third quarter of 2025, this key metric from continuing operations hit \$11.3 million. That's a solid increase compared to the \$9.4 million reported in the third quarter of 2024. The net interest margin (NIM) for Q3 2025 settled at 3.61%, up 27 basis points from the year-ago quarter's 3.34%.

The core earning asset supporting this is the retained loan portfolio. As of the end of Q3 2025, the Loans held for investment on the balance sheet stood at \$998.7 million. This figure reflects an 11.3% decrease during the quarter, largely due to reclassifying loans to held for sale as part of the restructuring.

The former major component, noninterest income, which historically included significant gains from selling government-guaranteed loans, has sharply contracted. In Q3 2025, noninterest income was negative at \$1 million, a significant swing from the \$12.3 million seen in Q3 2024. This was driven by a \$5.1 million fair value adjustment on loans marked as held for sale and lower gains on sale, all tied to exiting the SBA 7(a) business.

To compensate for the loss of SBA gain-on-sale revenue, BayFirst Financial Corp. is leaning into fee-based services. This includes fee income from service charges and treasury management services. The focus is now on enhanced treasury services for small and medium-sized businesses. While a smaller piece, treasury management fee income showed growth, moving from \$20,000 in 2022 to \$69,000 year-to-date in 2025.

Regarding loan servicing income, this component is definitely smaller post-SBA exit. Banesco USA assumed servicing for the majority of the sold SBA 7(a) loans. BayFirst Financial Corp. expects to retain approximately \$167 million of unguaranteed SBA 7(a) balances post-close and will continue marketing those remaining balances for sale.

Here's a quick look at the key revenue drivers and related figures from the Q3 2025 period:

Revenue Component	Metric/Period	Amount
Net Interest Income (NII)	Q3 2025 (Continuing Operations)	\$11.3 million
Net Interest Income (NII)	Q3 2024 (Year-over-Year Comparison)	\$9.4 million
Loans Held for Investment	End of Q3 2025 Balance	\$998.7 million
Noninterest Income	Q3 2025 Result	-\$1 million
Noninterest Income	Q3 2024 Result	\$12.3 million
Treasury Management Fee Income	Year-to-Date 2025	\$69,000

The strategy is clearly about building predictable, recurring revenue streams, which you can see in the year-to-date numbers too. For the first nine months of 2025, NII from continuing operations reached \$34.6 million, up from \$27.4 million in the first nine months of 2024. This year-over-year increase in NII was largely due to a \$3.8 million increase in loan interest income, including fees, over that nine-month period.

You should keep an eye on these shifts:

• Focus on core community banking in Tampa Bay-Sarasota.
• Growing low-cost deposit base to fund loan portfolios.
• Transitioning away from gain-on-sale reliance.
• Expectation to return to profitability with a targeted positive return on assets of 40-70 bps in 2026.

Finance: draft 13-week cash view by Friday.