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Visual21 Nov 2025
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BayFirst Financial (BAFN) investor relations material
BayFirst Financial Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary31 Oct, 2025
Executive summary
Reported a net loss of $18.9 million for Q3 2025, driven by higher provision expense and $12.4 million in one-time charges, including a $7.3 million restructuring charge related to the exit from SBA 7(a) lending.
Exited the SBA 7(a) lending business, signing a definitive agreement to sell a large portion of the SBA 7(a) portfolio to Banesco USA at a 3% discount, with most SBA staff offered positions at Banesco.
Ranked #2 in deposits among banks with assets under $10B in the Tampa Bay-Sarasota region as of June 30, 2025, with $1.35 billion in total assets and $1.17 billion in deposits as of September 30, 2025.
Management is focused on derisking the balance sheet, improving credit quality, and returning to profitability with a target ROA of 40-70 bps in 2026.
Regulatory capital ratios declined, and the bank did not meet all well-capitalized requirements as of September 30, 2025.
Financial highlights
Net loss available to common shareholders was $19.3 million for Q3 2025, compared to net income of $0.8 million in Q3 2024.
Net interest income was $11.3 million in Q3 2025, up from $9.4 million in Q3 2024, but down from $12.3 million in Q2 2025.
Noninterest income was negative $1.0 million in Q3 2025, down from $10.8 million in Q2 and $12.3 million in Q3 2024, mainly due to lower gains on loan sales and a $5.1 million fair value adjustment.
Noninterest expense rose to $25.2 million in Q3 2025, up $7.7 million from Q2, primarily due to a $7.3 million restructuring charge.
Book value per common share was $17.90 at September 30, 2025, down from $22.30 in Q2 and $20.86 a year earlier.
Outlook and guidance
Management expects to complete the SBA 7(a) loan sale in Q4 2025, pending regulatory approval; failure to close could adversely impact earnings and liquidity.
Focus on reducing non-performing loans, improving credit quality, and returning to profitability with a target ROA of 40-70 bps in 2026.
The company is taking steps to improve capital ratios and has requested waivers to continue accessing brokered deposits.
Dividend payments on common and preferred stock have been temporarily suspended.
Continued wind-down and potential sale of remaining $167 million unguaranteed SBA 7(a) loan balances.
Plan to restore capital ratios?
Strategy for remaining SBA 7(a) loans?
Drivers for increased brokered deposits?
Plan for remaining $167M unguaranteed SBA loans?
Path to 40-70 bps ROA by 2026?
Implications of 8-10% targeted loan review?
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Next BayFirst Financial earnings date
Q4 202530 Jan, 2026
Next BayFirst Financial earnings date
Q4 202530 Jan, 2026
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Frequently asked questions
BayFirst Financial Corp. is a bank holding company headquartered in St. Petersburg, Florida. It operates through its wholly owned subsidiary, BayFirst National Bank, which serves the Tampa Bay area and businesses nationwide. The bank provides a range of commercial and consumer banking services, including checking and savings accounts, commercial real estate mortgages, construction and development loans, personal loans, and residential mortgages. Additionally, it operates a specialized lending platform, CreditBench, which focuses on originating government-guaranteed loans, such as SBA 7(a) and USDA loans, across the country. The company is headquartered in St. Petersburg, Florida, and its shares are listed on the NASDAQ.
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