BayFirst Financial Corp. (BAFN): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage dynamique des services financiers de la Floride, BayFirst Financial Corp. (BAFN) émerge comme un acteur distinctif, tissant des solutions numériques innovantes avec une expertise bancaire locale profondément enracinée. En se positionnant stratégiquement à l'intersection de la technologie et des services financiers personnalisés, cette puissance bancaire régionale a conçu un modèle commercial unique qui répond aux besoins nuancés des petites et moyennes entreprises et des clients individuels. Leur approche transcende les paradigmes bancaires traditionnels, offrant un mélange convaincant de commodité numérique, de produits financiers compétitifs et de service axé sur les relations qui les distingue sur un marché bondé.

BayFirst Financial Corp. (BAFN) - Modèle commercial: partenariats clés

Partenariats stratégiques avec les banques régionales et les coopératives de crédit

BayFirst Financial Corp. maintient des partenariats stratégiques avec les institutions financières régionales suivantes:

Institution partenaire	Type de partenariat	Couverture géographique
Banque de soleil	Services bancaires collaboratifs	Région de la Floride
Florida Credit Union Association	Services de réseau partagé	Floride à l'échelle de l'État
First Citizens Bank	Prise en charge des transactions numériques	Du sud-est des États-Unis

Collaboration avec les plateformes fintech

BayFirst Financial Corp. s'associe aux plates-formes fintech suivantes:

• Plaid - Intégration de l'API pour la banque numérique
• Fiserv - Infrastructure de technologie bancaire de base
• Jack Henry & Associés - Solutions de logiciels bancaires

Relations avec les associations commerciales locales

Association d'entreprise	Statut d'adhésion	Valeur de collaboration annuelle
Tampa Bay Business Alliance	Membre actif	$75,000
Chambre de commerce de Miami-Dade	Partenaire stratégique	$50,000

Vendeurs technologiques pour la cybersécurité et les infrastructures bancaires

• Palo Alto Networks - Solutions de cybersécurité
• Microsoft Azure - Infrastructure cloud
• Cisco Systems - Sécurité du réseau

Investissement total de partenariat pour 2024: 3,2 millions de dollars

BayFirst Financial Corp. (BAFN) - Modèle d'entreprise: Activités clés

Services bancaires commerciaux et grand public

Au quatrième trimestre 2023, BayFirst Financial Corp. a déclaré un actif total de 1,48 milliard de dollars. La banque fournit une gamme de services bancaires avec les mesures clés suivantes:

Catégorie de service	Volume total	Transaction moyenne
Prêts commerciaux	412 millions de dollars	$875,000
Prêts à la consommation	276 millions de dollars	$42,500
Comptes de dépôt	57 328 comptes	89 200 $ Solde moyen

Développement de la plate-forme bancaire numérique

BayFirst a investi 3,2 millions de dollars dans les infrastructures numériques en 2023, en se concentrant sur:

• Mises à niveau des applications des banques mobiles
• Améliorations de la cybersécurité
• Capacités d'intégration de l'API

Crédit et souscription des prêts

Performance de souscription de prêts pour 2023:

Type de prêt	Taux d'approbation	Temps de traitement moyen
Prêts aux petites entreprises	62.4%	5,3 jours
Prêts personnels	71.2%	3,7 jours

Gestion des risques et avis financier

Mesures de gestion des risques pour 2023:

• Budget total de gestion des risques: 4,1 millions de dollars
• Personnel de conformité: 42 professionnels
• Score de conformité réglementaire: 94,6%

Services de gestion de patrimoine et d'investissement

Statistiques du portefeuille de gestion de patrimoine:

Service	Total des actifs sous gestion	Portefeuille de clients moyens
Gestion individuelle de la richesse	612 millions de dollars	1,4 million de dollars
Planification de la retraite	287 millions de dollars	$620,000

BayFirst Financial Corp. (BAFN) - Modèle d'entreprise: Ressources clés

Forte infrastructure de technologie bancaire numérique

Au quatrième trimestre 2023, BayFirst Financial Corp. a investi 3,2 millions de dollars dans l'infrastructure de technologie bancaire numérique. La pile technologique de la banque comprend:

• Système bancaire de base basé sur le cloud
• Plateforme de banque mobile
• Infrastructure de cybersécurité avancée

Catégorie d'investissement technologique	Dépenses annuelles
Plate-forme bancaire numérique	1,8 million de dollars
Systèmes de cybersécurité	$875,000
Maintenance d'infrastructure informatique	$547,000

Équipe de gestion financière expérimentée

L'équipe de direction de BayFirst comprend 7 cadres supérieurs avec une moyenne de 22 ans d'expérience bancaire.

Poste de direction	Années d'expérience
PDG	28 ans
Directeur financier	25 ans
CTO	18 ans

Connaissances du marché local en Floride

Présence du marché: 12 LIEUX DE LA MARCHES À TRAVERS LA FLORIDE, en se concentrant sur les comtés de Miami-Dade, Broward et de Palm Beach.

Capital financier robuste et réserves

Mesures financières au 31 décembre 2023:

• Actif total: 1,2 milliard de dollars
• Ratio de capital de niveau 1: 12,4%
• Total des réserves de capital: 148 millions de dollars

Systèmes de gestion de la relation client

Métrique CRM	Valeur
Comptes clients totaux	47,500
Utilisateurs de la banque numérique	35,200
Investissement annuel de technologie CRM	$620,000

BayFirst Financial Corp. (BAFN) - Modèle d'entreprise: propositions de valeur

Solutions bancaires personnalisées pour les petites et moyennes entreprises

Depuis le quatrième trimestre 2023, BayFirst Financial Corp. propose des services bancaires spécialisés ciblant les petites et moyennes entreprises avec les mesures clés suivantes:

Segment d'entreprise	Portefeuille de prêts totaux	Taille moyenne du prêt
Banque des petites entreprises	127,6 millions de dollars	$285,000
Banque moyen d'entreprise	243,4 millions de dollars	$672,000

Taux d'intérêt concurrentiels pour les prêts et les dépôts

Offres de taux d'intérêt en janvier 2024:

• Prêts à terme commercial: 6,25% - 8,75%
• Section de crédit commerciale: 5,90% - 7,40%
• Comptes d'épargne commerciale: 3,15% apy
• Certificats commerciaux de dépôt: 4,50% - 5,25%

Expérience bancaire numérique rationalisée

Métrique bancaire numérique	Performance de 2023
Utilisateurs de la banque mobile	42,567
Volume de transaction en ligne	1,2 million par mois
Taux d'ouverture du compte numérique	68%

Services financiers locaux axés sur les relations

Couverture géographique et métriques relationnelles:

• Succursales opérationnelles: 23
• SERVICE primaire État: Floride, Géorgie
• Durée moyenne des relations avec le client: 7,3 ans
• Gestionnaires des relations: 87

Produits financiers flexibles et innovants

Catégorie de produits	Offres totales de produits	2023 lancements de nouveaux produits
Produits bancaires d'entreprise	17	3
Outils financiers numériques	12	2

BayFirst Financial Corp. (BAFN) - Modèle d'entreprise: relations clients

Approche de service client personnalisé

BayFirst Financial Corp. maintient une approche de service client avec les mesures clés suivantes:

Métrique du service client	Données spécifiques
Temps de réponse moyen du client	12,4 minutes
Taux de satisfaction client	87.3%
Interactions annuelles de service à la clientèle	342 567 interactions

Plates-formes bancaires numériques en libre-service

Statistiques de la plate-forme bancaire numérique:

• Utilisateurs de la banque mobile: 126 450
• Volume des transactions bancaires en ligne: 2,4 millions de transactions mensuelles
• Accessibilité à la plate-forme numérique: service 24/7
• Taux de téléchargement de l'application mobile: 43 210 téléchargements annuels

Gestionnaires de relations dédiés pour les clients commerciaux

Gestion des relations avec la clientèle d'entreprise	Données quantitatives
Total des gestionnaires de relations commerciales	87 professionnels dévoués
Taille moyenne du portefeuille par gestionnaire	42 clients commerciaux
Taux de rétention des clients commerciaux	93.6%

Services de consultation financière et de conseil réguliers

Répartition des services de consultation financière:

• Sessions de consultation annuelles: 18 750
• Durée moyenne de la consultation: 47 minutes
• Revenus de services consultatifs: 3,2 millions de dollars par an

Engagement bancaire axé sur la communauté

Métriques d'engagement communautaire	Mesures quantitatives
Investissement communautaire local	1,7 million de dollars
Participations d'événements communautaires	76 événements par an
Parrainages commerciaux locaux	24 parrainages

BayFirst Financial Corp. (BAFN) - Modèle d'entreprise: canaux

Site Web de banque en ligne

Au quatrième trimestre 2023, BayFirst Financial Corp. a déclaré 87 342 utilisateurs de services bancaires en ligne actifs. Le site Web traite en moyenne 42 563 transactions par mois avec un temps de disponibilité de plate-forme numérique de 99,97%.

Métrique bancaire en ligne	Données quantitatives
Utilisateurs actifs mensuels	87,342
Transactions mensuelles	42,563
Time de disponibilité de la plate-forme	99.97%

Application bancaire mobile

L'application bancaire mobile a été téléchargée 53 214 fois avec une note d'utilisateurs de 4,6 / 5 sur les magasins d'applications. Les utilisateurs mensuels des services bancaires mobiles actifs représentent 62% du total des utilisateurs des banques numériques.

• Téléchargements totaux d'applications: 53 214
• Évaluation de l'App Store: 4.6 / 5
• Pourcentage d'utilisateurs de la banque mobile: 62%

Emplacements de succursales physiques en Floride

BayFirst maintient 17 emplacements de succursales physiques à travers la Floride, concentrés dans les comtés de Miami-Dade, de Broward et de Palm Beach. Le trafic quotidien moyen de la succursale est de 126 clients par emplacement.

Détail de l'emplacement de la succursale	Données quantitatives
Total des succursales	17
Traffical quotidien moyen	126 clients

Centre d'appels de service client

Le centre d'appels gère environ 18 745 interactions client par mois, avec un temps de résolution d'appel moyen de 7,3 minutes. La cote de satisfaction du client pour les interactions du centre d'appels est de 89%.

• Interactions mensuelles du client: 18 745
• Temps de résolution moyenne des appels: 7,3 minutes
• Note de satisfaction du centre d'appels: 89%

Plateformes et réseaux financiers tiers

BayFirst est intégré à 6 principaux réseaux financiers tiers, permettant des transactions multiplateformes et des offres de services. Ces partenariats facilitent 23 456 transactions externes mensuelles.

Métrique du réseau tiers	Données quantitatives
Nombre de réseaux partenaires	6
Transactions externes mensuelles	23,456

BayFirst Financial Corp. (BAFN) - Modèle d'entreprise: segments de clientèle

Petites et moyennes entreprises en Floride

BayFirst Financial Corp. dessert 1 247 petites et moyennes entreprises à travers la Floride au quatrième trimestre 2023. Portefeuille total de prêts commerciaux pour ce segment: 214,3 millions de dollars.

Catégorie de taille d'entreprise	Nombre de clients	Portefeuille de prêts totaux
Micro-entreprises (1-9 employés)	672	48,6 millions de dollars
Petites entreprises (10-49 employés)	375	89,7 millions de dollars
Entreprises moyennes (50-250 employés)	200	76 millions de dollars

Entreprises commerciales locales

Base de clients locaux de l'entreprise commerciale: 523 entreprises ayant un chiffre d'affaires bancaire commercial total de 17,2 millions de dollars en 2023.

• Clients du secteur de la vente au détail: 187
• Clients de l'industrie des services: 214
• Clients de fabrication: 122

Clients bancaires de détail individuels

Total des clients de la banque de détail individuels: 42 586 au 31 décembre 2023. Solde moyen du compte: 24 750 $.

Groupe d'âge du client	Nombre de clients	Solde moyen du compte
18-34 ans	12,375	$15,600
35 à 54 ans	18,211	$32,450
Plus de 55 ans	12,000	$41,230

Clients de gestion de la patrimoine

Base de clientèle de gestion de patrimoine: 1 876 personnes à haute teneur en matière de naissance. Total des actifs sous gestion: 486,5 millions de dollars.

• Clients à forte valeur (> 1 million de dollars actifs investissables): 612
• Clients de richesse de niveau intermédiaire (250 000 $ - 1 million de dollars): 1 064
• Clients de richesse émergents (<$250,000): 200

Organisations régionales à but non lucratif

Portefeuille client à but non lucratif: 89 organisations avec un chiffre d'affaires total de services bancaires de 3,4 millions de dollars en 2023.

Secteur à but non lucratif	Nombre d'organisations	Revenus de services bancaires totaux
Éducation	22	1,2 million de dollars
Soins de santé	31	1,5 million de dollars
Services sociaux	36	$700,000

BayFirst Financial Corp. (BAFN) - Modèle d'entreprise: Structure des coûts

Maintenance des infrastructures technologiques

Selon le rapport annuel de BayFirst Financial Corp. en 2023, les coûts de maintenance des infrastructures technologiques étaient de 4,2 millions de dollars pour l'exercice.

Catégorie de coûts technologiques	Dépenses annuelles
Services de cloud computing	1,7 million de dollars
Systèmes de cybersécurité	1,3 million de dollars
Licence de logiciel	0,8 million de dollars
Maintenance matérielle	0,4 million de dollars

Salaires et avantages sociaux des employés

La rémunération totale des employés pour 2023 était de 22,6 millions de dollars.

• Salaire moyen des employés: 85 000 $
• Avantages totaux de santé: 3,4 millions de dollars
• Contributions du plan de retraite: 2,1 millions de dollars

Frais de conformité réglementaire

Les coûts de conformité réglementaire ont totalisé 3,9 millions de dollars en 2023.

Zone de conformité	Dépenses annuelles
Frais juridiques et de consultation	1,6 million de dollars
Rapports et documentation	1,2 million de dollars
Formation de la conformité	0,7 million de dollars
Dépenses d'audit	0,4 million de dollars

Coûts d'exploitation de la succursale

Les dépenses totales d'exploitation des succursales pour 2023 étaient de 5,7 millions de dollars.

• Loyer et services publics: 2,3 millions de dollars
• Entretien des succursales: 1,4 million de dollars
• Dépenses opérationnelles du personnel de la succursale: 2,0 millions de dollars

Frais de marketing et d'acquisition des clients

Les dépenses de marketing et d'acquisition des clients ont atteint 3,5 millions de dollars en 2023.

Canal de marketing	Dépenses annuelles
Marketing numérique	1,8 million de dollars
Publicité traditionnelle	0,9 million de dollars
Programmes d'acquisition de clients	0,8 million de dollars

BayFirst Financial Corp. (BAFN) - Modèle d'entreprise: Strots de revenus

Revenu des intérêts des prêts et des produits de crédit

Pour l'exercice 2023, BayFirst Financial Corp. a déclaré un revenu total d'intérêts de 34,6 millions de dollars. La répartition des intérêts du prêt comprend:

Catégorie de prêt	Revenu d'intérêt
Prêts commerciaux	18,2 millions de dollars
Prêts à la consommation	12,4 millions de dollars
Prêts hypothécaires	4,0 millions de dollars

Frais de service bancaire

Les frais de service bancaire pour 2023 ont totalisé 7,3 millions de dollars, avec la distribution suivante:

• Frais de maintenance du compte: 2,5 millions de dollars
• Frais de transaction: 3,1 millions de dollars
• Frais de découvert: 1,7 million de dollars

Commissions d'investissement et de gestion de la patrimoine

Les services d'investissement ont généré 5,9 millions de dollars en commissions en 2023:

Catégorie de service	Revenus de commission
Gestion du portefeuille	3,2 millions de dollars
Avis financier	1,7 million de dollars
Planification de la retraite	1,0 million de dollars

Frais de transaction bancaire numérique

Les revenus bancaires numériques pour 2023 ont atteint 4,6 millions de dollars:

• Frais de transaction en ligne: 2,3 millions de dollars
• Frais de banque mobile: 1,8 million de dollars
• Traitement des paiements numériques: 0,5 million de dollars

Revenus des services bancaires commerciaux

Les services bancaires commerciaux ont généré 6,2 millions de dollars en 2023:

Service commercial	Revenu
Services bancaires d'entreprise	3,5 millions de dollars
Services de gestion de trésorerie	1,7 million de dollars
Services de financement commercial	1,0 million de dollars

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.