Bayfirst Financial Corp. (BAFN): Modelo de negócios Canvas [Jan-2025 Atualizado]

No cenário dinâmico dos serviços financeiros da Flórida, a Bayfirst Financial Corp. (BAFN) surge como um jogador distinto, tecendo soluções digitais inovadoras com a experiência bancária local profundamente enraizada. Ao se posicionar estrategicamente na interseção de tecnologia e serviços financeiros personalizados, essa potência bancária regional criou um modelo de negócios exclusivo que atende às necessidades diferenciadas de pequenas e médias empresas e clientes individuais. Sua abordagem transcende os paradigmas bancários tradicionais, oferecendo uma mistura convincente de conveniência digital, produtos financeiros competitivos e serviço orientado a relacionamentos que os diferencia em um mercado lotado.

Bayfirst Financial Corp. (BAFN) - Modelo de negócios: Parcerias -chave

Parcerias estratégicas com bancos regionais e cooperativas de crédito

A Bayfirst Financial Corp. mantém parcerias estratégicas com as seguintes instituições financeiras regionais:

Instituição parceira	Tipo de parceria	Cobertura geográfica
SUNTRUST BANK	Serviços bancários colaborativos	Região da Flórida
Associação de União de Crédito da Flórida	Serviços de rede compartilhados	Flórida em todo o estado
Primeiro Banco Cidadão	Suporte à transação digital	Sudeste dos Estados Unidos

Colaboração com plataformas de fintech

A Bayfirst Financial Corp. faz parceria com as seguintes plataformas de fintech:

• Plaid - Integração da API para Banco Digital
• FISERV - Infraestrutura de tecnologia bancária principal
• Jack Henry & Associados - Soluções de software bancário

Relacionamentos com associações comerciais locais

Associação de Negócios	Status de associação	Valor anual de colaboração
Tampa Bay Business Alliance	Membro ativo	$75,000
Câmara de Comércio de Miami-Dade	Parceiro estratégico	$50,000

Fornecedores de tecnologia para segurança cibernética e infraestrutura bancária

• Palo Alto Networks - Soluções de segurança cibernética
• Microsoft Azure - Infraestrutura em nuvem
• Cisco Systems - Segurança de rede

Investimento total de parceria para 2024: US $ 3,2 milhões

Bayfirst Financial Corp. (BAFN) - Modelo de negócios: Atividades -chave

Serviços bancários comerciais e de consumo

A partir do quarto trimestre de 2023, a Bayfirst Financial Corp. registrou ativos totais de US $ 1,48 bilhão. O banco fornece uma variedade de serviços bancários com as seguintes métricas principais:

Categoria de serviço	Volume total	Transação média
Empréstimos comerciais	US $ 412 milhões	$875,000
Empréstimos ao consumidor	US $ 276 milhões	$42,500
Contas de depósito	57.328 contas	Balanço médio de US $ 89.200

Desenvolvimento da plataforma bancária digital

Bayfirst investiu US $ 3,2 milhões em infraestrutura digital em 2023, com foco em:

• Atualizações de aplicativos bancários móveis
• Aprimoramentos de segurança cibernética
• Recursos de integração da API

Subscrição de crédito e empréstimo

Desempenho de subscrição de empréstimo para 2023:

Tipo de empréstimo	Taxa de aprovação	Tempo médio de processamento
Empréstimos para pequenas empresas	62.4%	5,3 dias
Empréstimos pessoais	71.2%	3,7 dias

Gerenciamento de riscos e consultoria financeira

Métricas de gerenciamento de riscos para 2023:

• Orçamento total de gerenciamento de riscos: US $ 4,1 milhões
• Equipe de conformidade: 42 profissionais
• Pontuação de conformidade regulatória: 94,6%

Gestão de patrimônio e serviços de investimento

Estatísticas do portfólio de gerenciamento de patrimônio:

Serviço	Total de ativos sob gestão	Portfólio médio de clientes
Gestão individual de patrimônio	US $ 612 milhões	US $ 1,4 milhão
Planejamento de aposentadoria	US $ 287 milhões	$620,000

Bayfirst Financial Corp. (BAFN) - Modelo de negócios: Recursos -chave

Forte infraestrutura de tecnologia bancária digital

A partir do quarto trimestre de 2023, a Bayfirst Financial Corp. investiu US $ 3,2 milhões em infraestrutura de tecnologia bancária digital. A pilha de tecnologia do banco inclui:

• Sistema bancário de núcleo baseado em nuvem
• Plataforma bancária móvel
• Infraestrutura avançada de segurança cibernética

Categoria de investimento em tecnologia	Despesas anuais
Plataforma bancária digital	US $ 1,8 milhão
Sistemas de segurança cibernética	$875,000
Manutenção de infraestrutura de TI	$547,000

Equipe de gestão financeira experiente

A equipe de gerenciamento da Bayfirst compreende 7 executivos seniores com uma média de 22 anos de experiência bancária.

Posição executiva	Anos de experiência
CEO	28 anos
Diretor Financeiro	25 anos
CTO	18 anos

Conhecimento do mercado local na Flórida

Presença no mercado: 12 Locais de filiais em toda a Flórida, concentrando-se nos condados de Miami-Dade, Broward e Palm Beach.

Capital financeiro robusto e reservas

Métricas financeiras em 31 de dezembro de 2023:

• Total de ativos: US $ 1,2 bilhão
• Tier 1 Capital Ratio: 12,4%
• Reservas de capital total: US $ 148 milhões

Sistemas de gerenciamento de relacionamento com clientes

Métrica de CRM	Valor
Total de contas de clientes	47,500
Usuários bancários digitais	35,200
Investimento anual de tecnologia de CRM	$620,000

Bayfirst Financial Corp. (BAFN) - Modelo de negócios: proposições de valor

Soluções bancárias personalizadas para pequenas e médias empresas

A partir do quarto trimestre 2023, a Bayfirst Financial Corp. oferece serviços bancários especializados direcionados a empresas pequenas a médias com as seguintes métricas importantes:

Segmento de negócios	Portfólio total de empréstimos	Tamanho médio do empréstimo
Bancos de pequenas empresas	US $ 127,6 milhões	$285,000
Bancário médio da empresa	US $ 243,4 milhões	$672,000

Taxas de juros competitivas para empréstimos e depósitos

Ofertas de taxa de juros em janeiro de 2024:

• Empréstimos a termos comerciais: 6,25% - 8,75%
• Linha de crédito de negócios: 5,90% - 7,40%
• Contas de poupança de negócios: 3,15% APY
• Certificados de depósito de negócios: 4,50% - 5,25%

Experiência bancária digital simplificada

Métrica bancária digital	2023 desempenho
Usuários bancários móveis	42,567
Volume de transações online	1,2 milhão mensalmente
Taxa de abertura da conta digital	68%

Serviços financeiros focados no relacionamento local

Cobertura geográfica e métricas de relacionamento:

• Filiais operacionais: 23
• Estados do Serviço Primário: Flórida, Geórgia
• Duração média do relacionamento do cliente: 7,3 anos
• Gerentes de relacionamento: 87

Produtos financeiros flexíveis e inovadores

Categoria de produto	Ofertas totais de produtos	2023 lançamentos de novos produtos
Produtos bancários de negócios	17	3
Ferramentas financeiras digitais	12	2

Bayfirst Financial Corp. (BAFN) - Modelo de Negócios: Relacionamentos do Cliente

Abordagem personalizada de atendimento ao cliente

A Bayfirst Financial Corp. mantém uma abordagem de atendimento ao cliente com as seguintes métricas principais:

Métrica de atendimento ao cliente	Dados específicos
Tempo médio de resposta ao cliente	12,4 minutos
Taxa de satisfação do cliente	87.3%
Interações anuais de atendimento ao cliente	342.567 interações

Plataformas bancárias de autoatendimento digital

Estatísticas da plataforma bancária digital:

• Usuários bancários móveis: 126.450
• Volume de transação bancária on -line: 2,4 milhões de transações mensais
• Acessibilidade da plataforma digital: serviço 24/7
• Taxa de download de aplicativos móveis: 43.210 Downloads anuais

Gerentes de relacionamento dedicados para clientes de negócios

Gerenciamento de relacionamento com clientes de negócios	Dados quantitativos
Total de gerentes de relacionamento comercial	87 profissionais dedicados
Tamanho médio do portfólio por gerente	42 clientes comerciais
Taxa de retenção de clientes de negócios	93.6%

Serviços regulares de consulta financeira e consultoria

Financeiro de consulta financeira Redução:

• Sessões anuais de consulta: 18.750
• Duração média da consulta: 47 minutos
• Receita dos Serviços de Consultoria: US $ 3,2 milhões anualmente

Engajamento bancário orientado para a comunidade

Métricas de engajamento da comunidade	Medições quantitativas
Investimento comunitário local	US $ 1,7 milhão
Participações de eventos da comunidade	76 eventos anualmente
Patrocínio de negócios locais	24 patrocínios

Bayfirst Financial Corp. (BAFN) - Modelo de Negócios: Canais

Site bancário online

A partir do quarto trimestre de 2023, a Bayfirst Financial Corp. reportou 87.342 usuários de bancos on -line ativos. O site processa uma média de 42.563 transações por mês, com um tempo de atividade de plataforma digital de 99,97%.

Métrica bancária online	Dados quantitativos
Usuários ativos mensais	87,342
Transações mensais	42,563
Tempo de atividade da plataforma	99.97%

Aplicativo bancário móvel

O aplicativo Banking Mobile foi baixado 53.214 vezes com uma classificação de usuário de 4,6/5 em lojas de aplicativos. Os usuários mensais de bancos móveis ativos representam 62% do total de usuários de banco digital.

• Downloads de aplicativos totais: 53.214
• App Store Classificação: 4.6/5
• Mobile Banking Usuário Porcentagem: 62%

Locais de filiais físicas na Flórida

Bayfirst mantém 17 locais de filiais físicas em toda a Flórida, concentrados nos condados de Miami-Dade, Broward e Palm Beach. O tráfego diário de pedestres diário é de 126 clientes por local.

Detalhes da localização da filial	Dados quantitativos
Locais totais de ramificação	17
Tráfego médio diário de ramificação	126 clientes

Atendimento ao cliente Call Center

O call center lida com aproximadamente 18.745 interações do cliente mensalmente, com um tempo médio de resolução de chamadas de 7,3 minutos. A classificação de satisfação do cliente para as interações de call center é de 89%.

• Interações mensais do cliente: 18.745
• Tempo médio de resolução de chamadas: 7,3 minutos
• Classificação de call center Classificação: 89%

Plataformas e redes financeiras de terceiros

O Bayfirst está integrado a 6 principais redes financeiras de terceiros, permitindo transações entre plataformas e ofertas de serviços. Essas parcerias facilitam 23.456 transações externas mensais.

Métrica de rede de terceiros	Dados quantitativos
Número de redes parceiras	6
Transações externas mensais	23,456

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

Pequenas e médias empresas na Flórida

A Bayfirst Financial Corp. atende 1.247 empresas pequenas e médias em toda a Flórida a partir do quarto trimestre de 2023. A carteira total de empréstimos comerciais para este segmento: US $ 214,3 milhões.

Categoria de tamanho de negócios	Número de clientes	Portfólio total de empréstimos
Micro negócios (1-9 funcionários)	672	US $ 48,6 milhões
Pequenas empresas (10-49 funcionários)	375	US $ 89,7 milhões
Empresas médias (50-250 funcionários)	200	US $ 76 milhões

Empresas comerciais locais

Base de clientes comerciais locais da empresa: 523 empresas com receita bancária comercial total de US $ 17,2 milhões em 2023.

• Clientes do setor de varejo: 187
• Clientes do setor de serviços: 214
• Clientes de fabricação: 122

Clientes bancários de varejo individuais

Total de clientes de banco de varejo individuais: 42.586 em 31 de dezembro de 2023. saldo médio da conta: US $ 24.750.

Faixa etária do cliente	Número de clientes	Saldo médio da conta
18-34 anos	12,375	$15,600
35-54 anos	18,211	$32,450
55 anos ou mais	12,000	$41,230

Clientes de gerenciamento de patrimônio

Base de clientes de gerenciamento de patrimônio: 1.876 indivíduos de alta rede. Total de ativos sob gestão: US $ 486,5 milhões.

• Clientes de alta rede (> US $ 1 milhão investíveis ativos): 612
• Clientes de riqueza intermediária (US $ 250.000 a US $ 1 milhão): 1.064
• Clientes emergentes de riqueza (<$250,000): 200

Organizações regionais sem fins lucrativos

Portfólio de clientes sem fins lucrativos: 89 organizações com receita total de serviços bancários de US $ 3,4 milhões em 2023.

Setor sem fins lucrativos	Número de organizações	Receita total de serviços bancários
Educação	22	US $ 1,2 milhão
Assistência médica	31	US $ 1,5 milhão
Serviços sociais	36	$700,000

Bayfirst Financial Corp. (BAFN) - Modelo de negócios: estrutura de custos

Manutenção de infraestrutura de tecnologia

De acordo com o relatório anual de 2023 da Bayfirst Financial Corp., os custos de manutenção de infraestrutura tecnológica foram de US $ 4,2 milhões no ano fiscal.

Categoria de custo de tecnologia	Despesa anual
Serviços de computação em nuvem	US $ 1,7 milhão
Sistemas de segurança cibernética	US $ 1,3 milhão
Licenciamento de software	US $ 0,8 milhão
Manutenção de hardware	US $ 0,4 milhão

Salários e benefícios dos funcionários

A compensação total dos funcionários para 2023 foi de US $ 22,6 milhões.

• Salário médio de funcionários: US $ 85.000
• Total de benefícios de saúde: US $ 3,4 milhões
• Contribuições do plano de aposentadoria: US $ 2,1 milhões

Despesas de conformidade regulatória

Os custos de conformidade regulatória totalizaram US $ 3,9 milhões em 2023.

Área de conformidade	Despesa anual
Taxas legais e de consultoria	US $ 1,6 milhão
Relatórios e documentação	US $ 1,2 milhão
Treinamento de conformidade	US $ 0,7 milhão
Despesas de auditoria	US $ 0,4 milhão

Custos de operação da filial

As despesas totais de operação da filial para 2023 foram de US $ 5,7 milhões.

• Aluguel e utilitários: US $ 2,3 milhões
• Manutenção da filial: US $ 1,4 milhão
• Despesas operacionais da equipe da filial: US $ 2,0 milhões

Despesas de marketing e aquisição de clientes

Os gastos com marketing e aquisição de clientes atingiram US $ 3,5 milhões em 2023.

Canal de marketing	Despesa anual
Marketing digital	US $ 1,8 milhão
Publicidade tradicional	US $ 0,9 milhão
Programas de aquisição de clientes	US $ 0,8 milhão

Bayfirst Financial Corp. (BAFN) - Modelo de negócios: fluxos de receita

Receita de juros de empréstimos e produtos de crédito

Para o ano fiscal de 2023, a Bayfirst Financial Corp. reportou receita total de juros de US $ 34,6 milhões. A quebra de juros de empréstimo inclui:

Categoria de empréstimo	Receita de juros
Empréstimos comerciais	US $ 18,2 milhões
Empréstimos ao consumidor	US $ 12,4 milhões
Empréstimos hipotecários	US $ 4,0 milhões

Taxas de serviço bancário

As taxas de serviço bancário para 2023 totalizaram US $ 7,3 milhões, com a seguinte distribuição:

• Taxas de manutenção de conta: US $ 2,5 milhões
• Taxas de transação: US $ 3,1 milhões
• Taxas de cheque especial: US $ 1,7 milhão

Comissões de investimento e gerenciamento de patrimônio

Os serviços de investimento geraram US $ 5,9 milhões em comissões durante 2023:

Categoria de serviço	Receita da Comissão
Gerenciamento de portfólio	US $ 3,2 milhões
Aviso financeiro	US $ 1,7 milhão
Planejamento de aposentadoria	US $ 1,0 milhão

Taxas de transação bancária digital

A receita bancária digital para 2023 atingiu US $ 4,6 milhões:

• Taxas de transação online: US $ 2,3 milhões
• Taxas bancárias móveis: US $ 1,8 milhão
• Processamento de pagamento digital: US $ 0,5 milhão

Receitas de serviço bancário comercial

Os serviços bancários comerciais geraram US $ 6,2 milhões em 2023:

Serviço comercial	Receita
Serviços bancários corporativos	US $ 3,5 milhões
Serviços de gerenciamento de caixa	US $ 1,7 milhão
Serviços de financiamento comercial	US $ 1,0 milhão

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.