Bayfirst Financial Corp. · NASDAQ:BAFN
Bayfirst Financial — Q2 2026 Earnings Presentation
22 slides from Bayfirst Financial's earnings presentation, Aug 14, 2026
Slide 1: BayFirst Financial Corp. 2026 Second Quarter Results
BayFirst Financial Corp. (NASDAQ:BAFN) 2026 – Second Quarter Results (Unaudited)
Slide 2: Cautionary Statement Concerning Forward-Looking Information
In addition to the historical information contained herein, this presentation includes "forward-looking statements" within the meaning of such term in the Private Securities Litigation Reform Act of 1995. These statements are subject to many risks and uncertainties, including, but not limited to, th
Slide 3: About BayFirst Financial Corp.
ABOUT BAYFIRST FINANCIAL CORP. TAMPA BAY’S PREMIER COMMUNITY BANKING FRANCHISE HOW WE RANK ASSET SIZE 3 $1.13 IN THE TAMPA BAY- BILLION TOTAL SARASOTA REGION(1) ASSETS (2) ASSET GROWTH COST OF FUNDS 24% 20 ASSET GROWTH BASIS POINT DECREASE IN COST SINCE DEC 31, OF FUNDS FOR THE QUARTER 2020(2) DEPOS
Slide 4: Current Banking Center Locations
ABOUT BAYFIRST FINANCIAL CORP. CURRENT BANKING CENTER LOCATION CONVENIENT AND ATTRACTIVE BANKING CENTER FRANCHISE IN TAMPA BAY-SARASOTA REGION New banking center to open in South Tampa later in 2026 4
Slide 5: Attractive Loan Composition
ATTRACTIVE LOAN COMPOSITION Composition of Loans Held for Investment as of June 30, 2026 Loan Highlights 8.4% 0.9% 4.3% 21.8% • Loan portfolio is well-diversified across major loan types with a low concentration of non 9.8% owner-occupied commercial real estate loans • Total loan production of $5 mi
Slide 6: Solid Deposit Composition
SOLID DEPOSIT COMPOSITION Deposit Portfolio Balance Composition as of June 30, 2026 Deposit Highlights • Total Deposits decreased $97 million Noninterest for the quarter and $175 million over Bearing the last twelve months primarily in Transaction, high-rate promotional deposits Time 11.8% Deposits,
Slide 7: Investment Securities
INVESTMENT SECURITIES Investment Securities Portfolio Details AFS Investment Securities Portfolio as of June 30, 2026 (fair market value, in thousands) • Minimal exposure to market value losses due to Corporate bonds, $3,868 Asset-backed modest investment securities portfolio (2% of total securities
Slide 8: Quarterly Earnings
QUARTERLY EARNINGS For the Three Months Ended Increase/ Increase/ ($000s) 6/30/2026 3/31/2026 (Decrease) 6/30/2025 (Decrease) As restated As restated Interest income $ 16,365 $ 17,430 $ (1,065) $ 22,284 $ (5,919) Interest expense 6,943 7,990 (1,047) 10,157 (3,214) Net interest income 9,422 9,440 (18
Slide 9: Year To Date Earnings
YEAR TO DATE EARNINGS Six Months Ended June 30, Increase/ ($000s) 2026 2025 (Decrease) As restated Interest income $ 33,795 $ 42,580 $ (8,785) Interest expense 14,933 19,843 (4,910) Net interest income 18,862 22,737 (3,875) Provision for credit losses 32,381 12,167 20,214 Noninterest income (5,925)
Slide 10: Key Metrics
KEY METRICS As of and For the Six Months As of and For the Three Months Ended Ended 6/30/2026 3/31/2026 6/30/2025 6/30/2026 6/30/2025 As restated As restated As restated Return on average assets(1) (11.02)% (1.95)% (0.56)% (6.44)% (0.43)% Return on average common equity(1) (195.50)% (39.19)% (10.02)
Slide 11: QTD Interest Margin
QTD INTEREST MARGIN Net Interest Margin (1) Loan Yield (1) 6.0% 10.0% 7.63% 7.25% 7.27% 4.01% 7.5% 6.87% 6.53% 4.0% 3.64% 3.60% 3.48% 3.44% 5.0% 2.0% 2.5% 0.0% 0.0% Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Cost of Funds Net Interest Margin (1)($ in millions) $1
Slide 12: Balance Sheet Composition
BALANCE SHEET COMPOSITION Total Assets(1) ($M) Total Loans HFI(1) ($M) $1,344 $1,346 $1,300 $1,200 $1,120 $1,400 $993 $1,196 $1,135 $958 $924 $1,200 $1,000 $883 $1,000 $800 $800 $600 $600 $400 $400 $200 $200 $0 $0 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Total
Slide 13: Tangible Book Value Per Common Share
TANGIBLE BOOK VALUE PER COMMON SHARE(1) $25 $22.30 $20 $16.50 $15.76 $15 $14.22 $10 $4.82 $5 $0 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Tangible Book Value Per Common Share (1) Q2 2025, Q3 2025, Q4 2025, Q1 2026 have been restated 13
Slide 14: Community Banking Performance
COMMUNITY BANKING PERFORMANCE Q2 2026 Highlights Banking Center & Deposits ($ in 000s) Total Deposits Q2 2026 Loan Production Summary: Year # Branch Opened 6/30/2026 6/30/2025 6/30/2024 ▪ Loan production during the quarter was $5.1 million (1) 1 St. Petersburg(2) 2017 $ 349,156 $ 399,221 $ 281,713 ▪
Slide 15: Community Banking Loan Balances
Community Banking Loan Balances Community Banking Loan Balances ($M) $698.0 $700.7 $700 $675.1 $88.5 $87.4 $661.8 $87.2 $637.3 $80.0 $72.0 $600 $28.5 $32.3 $31.1 $202.9 $200.0 $29.8 $200.8 $23.9 $179.8 $179.0 $500 $400 $378.2 $380.9 $372.3 $355.9 $362.5 $300 $200 6/30/2025 9/30/2025 12/31/2025 3/31/
Slide 16: Treasury Management Services
TREASURY MANAGEMENT SERVICES Treasury Management Services Treasury Management Fee Income ($000s) $120 $98 $100 • With our treasury management platform operational, we are servicing small and medium $80 sized businesses as well as large businesses through our two online platforms $65 $58 $60 • The Ba
Slide 17: Asset Quality
ASSET QUALITY Net charge-offs/Total average loans HFI at amortized cost(1) ACL/Total loans held for investment at amortized cost(1) 3.0% 2.74% 6.0% 5.37% 2.08% 2.14% 2.08% 2.0% 4.0% 1.34% 2.63% 2.43% 2.36% 1.0% 2.0% 1.65% 0.0% 0.0% Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 6/30/2025 9/30/2025 12/31/20
Slide 18: Appendix
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Slide 19: Deposits in Tampa Bay-Sarasota Region
DEPOSITS IN TAMPA BAY-SARASOTA REGION Total Deposits (Total Assets <$10BN and HQ in Tampa Bay-Sarasota Region) Average Deposits Branches Deposits per Branch Rank Institution ($ millions) (No.) ($ millions) 1 Bank of Tampa $2,760 13 $212 2 Climate First 1,522 3 507 3 BayFirst National Bank 1,086 12 9
Slide 20: Liquidity Sources
LIQUIDITY SOURCES • Available Liquidity ◦ $139 million in cash and due from other banks ◦ $28 million in AFS investment securities • Off Balance Sheet Sources of Liquidity ◦ $184 million of unused, available borrowing capacity at the FHLB based on pledged loans ◦ $34 million available at the Federal
Slide 21: Experienced Leadership Team
EXPERIENCED LEADERSHIP TEAM Alfred T, (“Al”) • Joined BayFirst in Q2 2026. Rogers • Previous experience includes CEO of Manufacturers Bank of Florida, President and Senior Lender at Colonial Bank, President, Chief Executive Executive Lending Officer at USAmeriBank, and EVP and Chief Lending Officer
Slide 22: Experienced Leadership Team
EXPERIENCED LEADERSHIP TEAM Brandi Jaber • Joined BayFirst in Q4 2017; Prior to joining BayFirst, over fifteen years of Mortgage Banking administration EVP, Chief Administrative experience as well as Human Resources experience supporting mid-size financial institutions Officer • B.B.S from The Unive