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1. Company Snapshot

1.a. Company Description

BayFirst Financial Corp.operates as the bank holding company for First Home Bank that provides commercial and consumer banking services for businesses and individuals.The company offers checking and savings accounts, and certificates of deposit.


It also provides home loans, including residential mortgages, home equity loans, and home equity lines of credit; and business lending services comprising minority lending programs, PPP loan forgiveness services, SBA loans, and commercial lending services.In addition, the company offers treasury management, merchant, online, and investment services; and credit cards.As of January 26, 2022, it operated seven full-service office locations in St. Petersburg, Seminole, Pinellas Park, Clearwater, Sarasota, Tampa, and Belleair Bluffs, Florida; and 23 mortgage loan production offices.


The company was formerly known as First Home Bancorp, Inc.and changed its name to BayFirst Financial Corp.in May 2021.


BayFirst Financial Corp.was founded in 1999 and is headquartered in Saint Petersburg, Florida.

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1.b. Last Insights on BAFN

BayFirst Financial Corp's recent performance was driven by strong Q4 2024 results, with earnings per common share increasing to $2.11 for the quarter and $2.64 for the year. The company's net interest margin expanded by 26bps, indicating a positive trend in its lending business. Additionally, BayFirst announced a share buyback program, which is a positive event for shareholders as it reduces the number of outstanding shares and can potentially increase earnings per share.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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BayFirst Incurs Loss in Q3, Exits SBA Lending Amid Shakeup

Nov -05

Source: zacks.com

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BayFirst Financial Corp. (BAFN) Q3 2025 Earnings Call Transcript

Oct -31

Source: seekingalpha.com

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BayFirst Financial Corp. Reports Third Quarter 2025 Results, Announces Restructuring Plan Including Exit From SBA 7(a) Lending

Oct -30

Source: globenewswire.com

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BayFirst Downgraded to Neutral on Profit, Credit Concerns

Sep -26

Source: zacks.com

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BayFirst Discontinues Bolt SBA 7(a) Loan Program

Aug -04

Source: globenewswire.com

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BAFN Stock Slides 15% on Q2 Loss, Interest Income Up Y/Y

Aug -04

Source: zacks.com

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BayFirst Q2 Net Loss Widens 425%

Jul -30

Source: fool.com

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BayFirst Financial Corp. Reports Second Quarter 2025 Results

Jul -29

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.50%)

6. Segments

Banking and Related Activities

Expected Growth: 4.5%

The Banking and Related Activities segment is expected to grow driven by increasing demand for commercial and consumer lending, deposit services, and cash management. The segment's growth is also fueled by the rising need for digital banking solutions and the increasing adoption of online banking services.

7. Detailed Products

Commercial Banking

BayFirst Financial Corp. offers a range of commercial banking services, including cash management, treasury management, and commercial lending, to help businesses manage their finances and achieve their goals.

Retail Banking

BayFirst Financial Corp. provides personal banking services, including checking and savings accounts, credit cards, and personal loans, to help individuals manage their finances and achieve their personal goals.

Wealth Management

BayFirst Financial Corp. offers wealth management services, including investment management, financial planning, and trust services, to help individuals and families achieve their long-term financial goals.

Mortgage Banking

BayFirst Financial Corp. provides mortgage banking services, including residential and commercial mortgage lending, to help individuals and businesses finance their real estate needs.

Treasury Management

BayFirst Financial Corp. offers treasury management services, including cash management, foreign exchange, and trade finance, to help businesses manage their cash flow and optimize their financial performance.

8. BayFirst Financial Corp.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for BayFirst Financial Corp. is medium due to the presence of alternative financial institutions and digital payment platforms.

Bargaining Power Of Customers

The bargaining power of customers is high due to the availability of multiple financial institutions and the ease of switching between them.

Bargaining Power Of Suppliers

The bargaining power of suppliers is low due to the company's strong relationships with its suppliers and the availability of alternative suppliers.

Threat Of New Entrants

The threat of new entrants is medium due to the presence of regulatory barriers and the need for significant capital investment to enter the market.

Intensity Of Rivalry

The intensity of rivalry is high due to the presence of multiple financial institutions competing for market share and the need for continuous innovation to stay competitive.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 15.40%
Debt Cost 9.14%
Equity Weight 84.60%
Equity Cost 9.14%
WACC 9.14%
Leverage 18.21%

11. Quality Control: BayFirst Financial Corp. passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Bank First

A-Score: 6.8/10

Value: 3.4

Growth: 6.6

Quality: 7.6

Yield: 6.0

Momentum: 9.5

Volatility: 7.7

1-Year Total Return ->

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Citizens & Northern

A-Score: 6.6/10

Value: 6.0

Growth: 4.9

Quality: 7.4

Yield: 8.0

Momentum: 5.0

Volatility: 8.3

1-Year Total Return ->

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Hawthorn Bancshares

A-Score: 6.2/10

Value: 6.1

Growth: 5.2

Quality: 6.0

Yield: 5.0

Momentum: 8.5

Volatility: 6.7

1-Year Total Return ->

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Flushing Financial

A-Score: 5.6/10

Value: 8.3

Growth: 2.7

Quality: 3.9

Yield: 10.0

Momentum: 3.5

Volatility: 5.3

1-Year Total Return ->

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ACNB

A-Score: 5.6/10

Value: 4.5

Growth: 5.2

Quality: 5.8

Yield: 6.0

Momentum: 5.0

Volatility: 7.0

1-Year Total Return ->

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BayFirst

A-Score: 4.9/10

Value: 9.3

Growth: 7.3

Quality: 5.9

Yield: 4.0

Momentum: 1.0

Volatility: 2.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

8.0$

Current Price

8$

Potential

-0.00%

Expected Cash-Flows