BAFN

BayFirst Financial Corp. operates as the bank holding company for BayFirst National Bank providing commercial and retail banking services to individuals, businesses, and professionals across southwest Florida. Headquartered in St. Petersburg, Florida, BayFirst serves customers through banking offices spanning Tampa Bay, Sarasota, and Southwest Florida coastal communities, offering traditional community banking products including business checking accounts, commercial real estate loans, construction financing, treasury management services, residential mortgages, and consumer lending. The company emphasizes relationship-based commercial banking targeting small and mid-sized businesses, real estate developers, and professional service firms including medical practices, law firms, and accounting practices prevalent across Florida's service-oriented economy. BayFirst reported total assets of approximately $1 billion with loan portfolios concentrated in commercial real estate representing 60-65% of total loans, commercial and industrial lending comprising 20-25%, and residential real estate mortgages and consumer loans contributing remaining portions. The company operates in high-growth Florida markets benefiting from population migration, favorable tax environment, and strong real estate demand driving construction activity and economic expansion. BayFirst generates revenues primarily through net interest income earned from loan portfolios funded by deposits, plus non-interest income from treasury management fees, mortgage origination activities, and other banking services. Recent strategic priorities include prudent loan growth within established market areas, deposit gathering initiatives emphasizing operating accounts providing stable low-cost funding, digital banking enhancements improving customer convenience, and operational efficiency management protecting profitability margins. The company faces intense competition from larger regional banks including Synovus, Seacoast Banking, and national institutions operating extensive Florida branch networks, plus community banks and credit unions. BayFirst operates in markets experiencing robust economic growth but faces risks including real estate market cyclicality, hurricane exposure requiring disaster preparedness and potential credit losses, and interest rate sensitivity affecting net interest margins.