BayFirst Financial Corp. (BAFN): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico de los servicios financieros de Florida, Bayfirst Financial Corp. (BAFN) surge como un jugador distintivo, entrelazando soluciones digitales innovadoras con experiencia bancaria local profundamente arraigada. Al posicionarse estratégicamente en la intersección de la tecnología y los servicios financieros personalizados, esta potencia bancaria regional ha creado un modelo de negocio único que aborda las necesidades matizadas de pequeñas y medianas empresas y clientes individuales. Su enfoque trasciende los paradigmas bancarios tradicionales, ofreciendo una combinación convincente de conveniencia digital, productos financieros competitivos y servicio basado en relaciones que los distingue en un mercado lleno de gente.

Bayfirst Financial Corp. (BAFN) - Modelo de negocios: asociaciones clave

Asociaciones estratégicas con bancos regionales y cooperativas de crédito

Bayfirst Financial Corp. mantiene asociaciones estratégicas con las siguientes instituciones financieras regionales:

Institución asociada	Tipo de asociación	Cobertura geográfica
Banco de SunTrust	Servicios bancarios colaborativos	Región de Florida
Asociación de cooperativas de crédito de Florida	Servicios de red compartidos	Florida en todo el estado
First Citizens Bank	Soporte de transacciones digitales	Sudeste de los Estados Unidos

Colaboración con plataformas fintech

Bayfirst Financial Corp. se asocia con las siguientes plataformas Fintech:

• Plaid - Integración de API para banca digital
• FISERV - Infraestructura de tecnología bancaria central
• Jack Henry & Asociados: soluciones de software bancario

Relaciones con asociaciones comerciales locales

Asociación de negocios	Estado de membresía	Valor de colaboración anual
Tampa Bay Business Alliance	Miembro activo	$75,000
Cámara de Comercio de Miami-Dade	Socio estratégico	$50,000

Proveedores de tecnología para ciberseguridad e infraestructura bancaria

• Palo Alto Networks - Soluciones de ciberseguridad
• Microsoft Azure - Infraestructura en la nube
• Cisco Systems - Seguridad de la red

Inversión total de asociación para 2024: $ 3.2 millones

Bayfirst Financial Corp. (BAFN) - Modelo de negocio: actividades clave

Servicios de banca comercial y de consumo

A partir del cuarto trimestre de 2023, Bayfirst Financial Corp. reportó activos totales de $ 1.48 mil millones. El banco proporciona una gama de servicios bancarios con las siguientes métricas clave:

Categoría de servicio	Volumen total	Transacción promedio
Préstamos comerciales	$ 412 millones	$875,000
Préstamos al consumo	$ 276 millones	$42,500
Cuentas de depósito	57,328 cuentas	$ 89,200 saldo promedio

Desarrollo de la plataforma de banca digital

Bayfirst invirtió $ 3.2 millones en infraestructura digital en 2023, centrándose en:

• Actualizaciones de aplicaciones de banca móvil
• Mejoras de ciberseguridad
• Capacidades de integración de API

Suscripción de crédito y préstamo

Rendimiento de suscripción de préstamos para 2023:

Tipo de préstamo	Tasa de aprobación	Tiempo de procesamiento promedio
Préstamos para pequeñas empresas	62.4%	5.3 días
Préstamos personales	71.2%	3.7 días

Gestión de riesgos y asesoramiento financiero

Métricas de gestión de riesgos para 2023:

• Presupuesto total de gestión de riesgos: $ 4.1 millones
• Personal de cumplimiento: 42 profesionales
• Puntuación de cumplimiento regulatorio: 94.6%

Servicios de gestión de patrimonio y inversión

Estadísticas de cartera de gestión de patrimonio:

Servicio	Activos totales bajo administración	Cartera promedio de clientes
Gestión de patrimonio individual	$ 612 millones	$ 1.4 millones
Planificación de jubilación	$ 287 millones	$620,000

Bayfirst Financial Corp. (BAFN) - Modelo de negocios: recursos clave

Infraestructura de tecnología de banca digital fuerte

A partir del cuarto trimestre de 2023, Bayfirst Financial Corp. invirtió $ 3.2 millones en infraestructura de tecnología de banca digital. La pila de tecnología del banco incluye:

• Sistema bancario central basado en la nube
• Plataforma de banca móvil
• Infraestructura avanzada de ciberseguridad

Categoría de inversión tecnológica	Gasto anual
Plataforma de banca digital	$ 1.8 millones
Sistemas de ciberseguridad	$875,000
TI Mantenimiento de infraestructura	$547,000

Equipo experimentado de gestión financiera

El equipo de gestión de Bayfirst comprende 7 ejecutivos senior con un promedio de 22 años de experiencia bancaria.

Puesto ejecutivo	Años de experiencia
CEO	28 años
director de Finanzas	25 años
CTO	18 años

Conocimiento del mercado local en Florida

Presencia del mercado: 12 ubicaciones de sucursales en Florida, centrándose en los condados de Miami-Dade, Broward y Palm Beach.

Capital financiero y reservas robustas

Métricas financieras al 31 de diciembre de 2023:

• Activos totales: $ 1.2 mil millones
• Relación de capital de nivel 1: 12.4%
• Reservas de capital total: $ 148 millones

Sistemas de gestión de relaciones con el cliente

Métrico CRM	Valor
Cuentas totales de clientes	47,500
Usuarios bancarios digitales	35,200
Inversión anual de tecnología CRM	$620,000

Bayfirst Financial Corp. (BAFN) - Modelo de negocio: propuestas de valor

Soluciones bancarias personalizadas para pequeñas y medianas empresas

A partir del cuarto trimestre de 2023, Bayfirst Financial Corp. ofrece servicios bancarios especializados dirigidos a empresas pequeñas a medianas con las siguientes métricas clave:

Segmento de negocios	Cartera de préstamos totales	Tamaño promedio del préstamo
Banca de pequeñas empresas	$ 127.6 millones	$285,000
Banca empresarial media	$ 243.4 millones	$672,000

Tasas de interés competitivas para préstamos y depósitos

Ofertas de tasas de interés a partir de enero de 2024:

• Préstamos a plazo comercial: 6.25% - 8.75%
• Línea comercial de crédito: 5.90% - 7.40%
• Cuentas de ahorro de negocios: 3.15% APY
• Certificados comerciales de depósito: 4.50% - 5.25%

Experiencia bancaria digital optimizada

Métrica de banca digital	2023 rendimiento
Usuarios de banca móvil	42,567
Volumen de transacciones en línea	1.2 millones mensuales
Tasa de apertura de cuenta digital	68%

Servicios financieros locales centrados en la relación

Cobertura geográfica y métricas de relación:

• Ramas operativas: 23
• Estados de servicio primario: Florida, Georgia
• Duración promedio de la relación con el cliente: 7.3 años
• Gerentes de relaciones: 87

Productos financieros flexibles e innovadores

Categoría de productos	Ofertas de productos totales	2023 lanzamientos de nuevos productos
Productos bancarios de negocios	17	3
Herramientas financieras digitales	12	2

Bayfirst Financial Corp. (BAFN) - Modelo de negocios: relaciones con los clientes

Enfoque de servicio al cliente personalizado

Bayfirst Financial Corp. mantiene un enfoque de servicio al cliente con las siguientes métricas clave:

Métrica de servicio al cliente	Datos específicos
Tiempo promedio de respuesta al cliente	12.4 minutos
Tasa de satisfacción del cliente	87.3%
Interacciones anuales de servicio al cliente	342,567 interacciones

Plataformas de banca de autoservicio digital

Estadísticas de la plataforma de banca digital:

• Usuarios de banca móvil: 126,450
• Volumen de transacciones bancarias en línea: 2.4 millones de transacciones mensuales
• Accesibilidad a la plataforma digital: servicio 24/7
• Tasa de descarga de la aplicación móvil: 43,210 descargas anuales

Gerentes de relaciones dedicadas para clientes comerciales

Gestión de relaciones con clientes comerciales	Datos cuantitativos
Gerentes de relaciones comerciales totales	87 profesionales dedicados
Tamaño promedio de cartera por administrador	42 clientes comerciales
Tasa de retención de clientes comerciales	93.6%

Servicios regulares de consulta financiera y asesoramiento

Desglose del servicio de consulta financiera:

• Sesiones de consulta anual: 18,750
• Duración de consulta promedio: 47 minutos
• Ingresos de servicios de asesoramiento: $ 3.2 millones anuales

Compromiso bancario orientado a la comunidad

Métricas de participación comunitaria	Mediciones cuantitativas
Inversión comunitaria local	$ 1.7 millones
Participaciones de eventos comunitarios	76 eventos anualmente
Patrocinios comerciales locales	24 patrocinios

Bayfirst Financial Corp. (BAFN) - Modelo de negocios: canales

Sitio web de banca en línea

A partir del cuarto trimestre de 2023, Bayfirst Financial Corp. reportó 87,342 usuarios activos de banca en línea. El sitio web procesa un promedio de 42,563 transacciones por mes con un tiempo de actividad de la plataforma digital del 99.97%.

Métrica de banca en línea	Datos cuantitativos
Usuarios activos mensuales	87,342
Transacciones mensuales	42,563
Tiempo de actividad de la plataforma	99.97%

Aplicación de banca móvil

La aplicación de banca móvil se ha descargado 53,214 veces con una calificación de usuario de 4.6/5 en las tiendas de aplicaciones. Los usuarios mensuales de banca móvil activa representan el 62% del total de usuarios de banca digital.

• Descargas totales de aplicaciones: 53,214
• Calificación de la tienda de aplicaciones: 4.6/5
• Porcentaje de usuario de la banca móvil: 62%

Ubicaciones de ramas físicas en Florida

Bayfirst mantiene 17 ubicaciones de ramas físicas en Florida, concentradas en los condados de Miami-Dade, Broward y Palm Beach. El tráfico diario promedio de la sucursal es de 126 clientes por ubicación.

Detalle de ubicación de la rama	Datos cuantitativos
Ubicaciones de sucursales totales	17
Tráfico promedio de ramas diarias	126 clientes

Centro de llamadas de servicio al cliente

El centro de llamadas maneja aproximadamente 18,745 interacciones de los clientes mensualmente, con un tiempo de resolución de llamadas promedio de 7.3 minutos. La calificación de satisfacción del cliente para las interacciones del centro de llamadas es del 89%.

• Interacciones mensuales del cliente: 18,745
• Tiempo de resolución de llamadas promedio: 7.3 minutos
• Clasificación de satisfacción del centro de llamadas: 89%

Plataformas y redes financieras de terceros

BayFirst está integrado con 6 redes financieras de terceros principales, lo que permite transacciones multiplataforma y ofertas de servicios. Estas asociaciones facilitan 23,456 transacciones externas mensuales.

Métrica de red de terceros	Datos cuantitativos
Número de redes de socios	6
Transacciones externas mensuales	23,456

Bayfirst Financial Corp. (BAFN) - Modelo de negocios: segmentos de clientes

Empresas pequeñas a medianas en Florida

Bayfirst Financial Corp. atiende a 1,247 empresas pequeñas a medianas en Florida a partir del cuarto trimestre de 2023. Cartera total de préstamos comerciales para este segmento: $ 214.3 millones.

Categoría de tamaño del negocio	Número de clientes	Cartera de préstamos totales
Micro empresas (1-9 empleados)	672	$ 48.6 millones
Pequeñas empresas (10-49 empleados)	375	$ 89.7 millones
Empresas medianas (50-250 empleados)	200	$ 76 millones

Empresas comerciales locales

Base de clientes de empresas comerciales locales: 523 empresas con ingresos totales de banca comercial de $ 17.2 millones en 2023.

• Clientes del sector minorista: 187
• Clientes de la industria de servicios: 214
• Manufactura de clientes: 122

Clientes de banca minorista individual

Total de clientes de banca minorista individual: 42,586 al 31 de diciembre de 2023. Saldo promedio de la cuenta: $ 24,750.

Grupo de edad del cliente	Número de clientes	Saldo de cuenta promedio
18-34 años	12,375	$15,600
35-54 años	18,211	$32,450
55+ años	12,000	$41,230

Clientes de gestión de patrimonio

Base de clientes de gestión de patrimonio: 1.876 individuos de alto valor neto. Activos totales bajo administración: $ 486.5 millones.

• Clientes de alto nivel de red (> $ 1 millón de activos invertibles): 612
• Clientes de riqueza de nivel medio ($ 250,000- $ 1 millón): 1,064
• Clientes de riqueza emergentes (<$250,000): 200

Organizaciones regionales sin fines de lucro

Portafolio de clientes sin fines de lucro: 89 organizaciones con ingresos totales de servicios bancarios de $ 3.4 millones en 2023.

Sector sin fines de lucro	Número de organizaciones	Ingresos totales de servicios bancarios
Educación	22	$ 1.2 millones
Cuidado de la salud	31	$ 1.5 millones
Servicios sociales	36	$700,000

Bayfirst Financial Corp. (BAFN) - Modelo de negocio: Estructura de costos

Mantenimiento de la infraestructura tecnológica

Según el informe anual de 2023 de Bayfirst Financial Corp., los costos de mantenimiento de la infraestructura tecnológica fueron de $ 4.2 millones para el año fiscal.

Categoría de costos tecnológicos	Gasto anual
Servicios de computación en la nube	$ 1.7 millones
Sistemas de ciberseguridad	$ 1.3 millones
Licencia de software	$ 0.8 millones
Mantenimiento de hardware	$ 0.4 millones

Salarios y beneficios de los empleados

La compensación total de los empleados para 2023 fue de $ 22.6 millones.

• Salario promedio de empleados: $ 85,000
• Beneficios totales de atención médica: $ 3.4 millones
• Contribuciones del plan de jubilación: $ 2.1 millones

Gastos de cumplimiento regulatorio

Los costos de cumplimiento regulatorio totalizaron $ 3.9 millones en 2023.

Área de cumplimiento	Gasto anual
Tarifas legales y de consultoría	$ 1.6 millones
Informes y documentación	$ 1.2 millones
Capacitación de cumplimiento	$ 0.7 millones
Gastos de auditoría	$ 0.4 millones

Costos de operación de sucursal

Los gastos de operación total de la sucursal para 2023 fueron de $ 5.7 millones.

• Alquiler y servicios públicos: $ 2.3 millones
• Mantenimiento de sucursales: $ 1.4 millones
• Sucursal Gastos operativos del personal: $ 2.0 millones

Gastos de marketing y adquisición de clientes

El gasto en marketing y adquisición de clientes alcanzaron los $ 3.5 millones en 2023.

Canal de marketing	Gasto anual
Marketing digital	$ 1.8 millones
Publicidad tradicional	$ 0.9 millones
Programas de adquisición de clientes	$ 0.8 millones

Bayfirst Financial Corp. (BAFN) - Modelo de negocios: flujos de ingresos

Ingresos por intereses de préstamos y productos de crédito

Para el año fiscal 2023, Bayfirst Financial Corp. reportó ingresos por intereses totales de $ 34.6 millones. Desglose de intereses de préstamo incluye:

Categoría de préstamo	Ingresos por intereses
Préstamos comerciales	$ 18.2 millones
Préstamos al consumo	$ 12.4 millones
Préstamos hipotecarios	$ 4.0 millones

Tarifas de servicio bancario

Las tarifas de servicio bancario para 2023 totalizaron $ 7.3 millones, con la siguiente distribución:

• Tarifas de mantenimiento de la cuenta: $ 2.5 millones
• Tarifas de transacción: $ 3.1 millones
• Tarifas de sobregiro: $ 1.7 millones

Comisiones de inversión y gestión de patrimonio

Los servicios de inversión generaron $ 5.9 millones en comisiones durante 2023:

Categoría de servicio	Ingresos por comisión
Gestión de cartera	$ 3.2 millones
Aviso financiero	$ 1.7 millones
Planificación de jubilación	$ 1.0 millones

Tarifas de transacción bancaria digital

Los ingresos bancarios digitales para 2023 alcanzaron $ 4.6 millones:

• Tarifas de transacción en línea: $ 2.3 millones
• Tarifas de banca móvil: $ 1.8 millones
• Procesamiento de pagos digitales: $ 0.5 millones

Ingresos del servicio de banca comercial

Los servicios de banca comercial generaron $ 6.2 millones en 2023:

Servicio comercial	Ganancia
Servicios de banca corporativa	$ 3.5 millones
Servicios de gestión de efectivo	$ 1.7 millones
Servicios de financiación comercial	$ 1.0 millones

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.