BayFirst Financial Corp. BAFN
BayFirst Financial Corp.
BayFirst Financial Corp. is a bank holding company that operates through its wholly owned subsidiary, BayFirst National Bank (the "Bank"), together referred to as "the Company" or "BayFirst". BayFirst commenced its bank holding company operations on September 1, 2000, by acquiring all shares of the Bank. BayFirst's primary source of income is from the Bank, which serves a broad spectrum of consumers and small businesses in the Tampa Bay/Sarasota region. BayFirst strives to be a progressive institution in its products and services, technology, design, and social responsibility. As of December 31, 2025, BayFirst had consolidated total assets of $1.30 billion, total loans held for investment of $963.9 million, total deposits of $1.18 billion, and total shareholders' equity of $87.6 million. BayFirst's corporate office is located at the BayFirst Executive Center, 700 Central Avenue, St. Petersburg, Florida 33701.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Interest expense | $45.2M | $37.1M | $36.4M | $8.6M | $7.3M | $10.3M | — |
| Pre-tax income | -$33.0M | $13.8M | $8.0M | $7.0M | $11.7M | $15.8M | — |
| Income tax | $8.5M | $3.5M | $2.1M | $1.6M | $2.7M | $3.1M | — |
| Net income | -$24.6M | $10.2M | $5.7M | -$349.0K | $24.6M | $12.7M | — |
| EPS, basic | -6.32 | 2.09 | 1.16 | -0.29 | 6.21 | 3.45 | — |
| EPS, diluted | -6.32 | 2.09 | 1.12 | -0.22 | 5.91 | 3.01 | — |
| Shares, diluted (wtd. avg.) | $4.1M | $4.1M | $4.6M | $4.2M | $4.1M | $4.0M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $207.0M | $77.8M | $58.4M | $66.0M | $109.7M | $55.4M | $110.6M |
| Property, plant and equipment | $31.2M | $33.2M | $38.9M | $35.4M | $29.7M | $18.1M | — |
| Total assets | $1.34B | $1.28B | $1.12B | $938.9M | $917.1M | $1.54B | — |
| Total liabilities | $1.23B | $1.18B | $1.02B | $847.0M | $820.8M | $1.47B | — |
| Retained earnings | $35.5M | $39.8M | $34.4M | $33.5M | $35.9M | $13.4M | — |
| Total equity | $102.6M | $106.6M | $98.8M | $91.9M | $96.3M | $71.1M | $51.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $288.8M | $393.4M | $454.8M | $440.3M | $495.4M | -$107.8M | — |
| Depreciation and amortisation | $2.2M | $2.5M | $2.2M | $1.7M | $1.3M | $1.4M | — |
| Stock-based compensation | $99.0K | $396.0K | $604.0K | $763.0K | $461.0K | $373.0K | — |
| Capital expenditure | $300.0K | $1.7M | $7.6M | $8.1M | $13.1M | $3.0M | — |
| Investing cash flow | -$198.5M | -$518.8M | -$641.3M | -$510.6M | $207.6M | -$933.4M | — |
| Financing cash flow | $38.8M | $144.8M | $178.8M | $26.7M | -$648.7M | $986.0M | — |
| Dividends paid | $663.0K | $1.3M | $1.3M | $1.3M | $1.1M | $915.0K | — |
| Buybacks | $335.0K | $0 | $13.0K | $49.0K | $0 | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001649739-26-000049.
Others in SIC 6022
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| BNY | Bank of New York Mellon Corp | $111.84B | 22.3x | 7.8% |
| STT | STATE STREET CORP | $53.36B | 20.7x | 7.3% |
| FITB | FIFTH THIRD BANCORP | $49.76B | 15.5x | -5.0% |
| MTB | M&T BANK CORP | $34.64B | 14.1x | 7.5% |
| NTRS | NORTHERN TRUST CORP | $34.15B | 21.4x | 6.1% |
| CFG | CITIZENS FINANCIAL GROUP INC/RI | $29.81B | 18.3x | 6.7% |
| FCNCA | FIRST CITIZENS BANCSHARES INC /DE/ | $25.48B | 13.4x | -2.2% |
| EWBC | EAST WEST BANCORP INC | $17.92B | 13.7x | 2.4% |