BayFirst Financial (BAFN) Registration filing summary

Company overview and business model

• Operates as a bank holding company through its wholly owned subsidiary, focusing on community banking in the Tampa Bay/Sarasota region.

• Offers a range of deposit and loan products to consumers and small businesses, with a focus on personalized service.

• As of December 31, 2025, reported $1.30 billion in assets, $963.9 million in loans, $1.18 billion in deposits, and $87.6 million in shareholders' equity.

• Recently discontinued its SBA 7(a) lending division and operates 12 banking centers in the region.

Financial performance and metrics

• Consolidated total assets of $1.30 billion and total shareholders' equity of $87.6 million as of December 31, 2025.

• Board suspended dividends in July 2025; future dividends subject to board discretion and regulatory requirements.

Use of proceeds and capital allocation

• Net proceeds of approximately $13.8 million expected, after commissions and expenses.

• Proceeds will be used to improve capital levels, fund incremental allowance for credit losses, support bank growth, and return to profitability.