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Letter portraitLegal landscapeQuarterYTD

Bayfirst National Bank

Saint Petersburg, FL · Cert 34997 · Bayfirst Financial Corp.

National charter · OCC · 11 branches

Q2 2026

$1.1BAssets
$882.8MLoans
$1.0BDeposits
$109.3MEquity
Loan mix
67%RE $626.1M24%C&I $221.4M9%Consumer $82.8MQ2 2025Q2 2026
Deposit mix
87%Interest-bearing $872.1M13%Noninterest $129.3MQ2 2025Q2 2026

NIM

6.72%Q2 ’246.52%Q2 ’255.71%Q2 ’26+15%-9%

Non-interest income vs. expense

5.81%Q2 ’244.97%Q2 ’255.43%Q2 ’26+44%+217%

Market Position · Tampa-St. Petersburg-Clearwater, FL · 2026 SOD (annual) · 0.6% share · #19 of 60 inst. · $0.8B of $131.5B

1.0% Pinellas
0.7% Sarasota
0.2% Hillsborough
0.6% Manatee

Executive Summary

  • Earnings: ROA of -6.31%, down 613 bps year over year; NIM at 3.26%.
  • Asset quality: problem loans at 2.14% of loans (+4 bps YoY), with net charge-offs at 2.08%.
  • Capital: tier 1 leverage ratio of 8.30%, up 18 bps from a year ago.
  • Funding: loans stand at 88.16% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

-6.31%-613 bps YoY

Net Interest Margin (YTD, annualized)

3.26%-33 bps YoY

Efficiency Ratio (YTD, annualized)

246%+16,965 bps YoY

Tier 1 Leverage Ratio

8.30%+18 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets-0.18%-2.01%-1.68%-1.75%-6.31%-613 bps
Return on Equity-2.00%-23.81%-20.58%-24.07%-78.73%-7,673 bps
Net Interest Margin3.58%3.49%3.49%3.16%3.26%-33 bps
Efficiency Ratio76.48%108.57%108.01%140.96%246%+16,965 bps
Non-Interest Burden2.03%3.91%3.85%4.53%6.44%+441 bps
Growth
Asset Growth (YoY)10.32%7.95%0.84%-7.52%-15.64%-2,596 bps
Loan Growth (YoY)11.65%4.76%-9.63%-14.23%-21.58%-3,323 bps
Deposit Growth (YoY)11.67%5.34%3.58%-3.74%-14.02%-2,569 bps
Asset Quality
Nonperforming Loans / Loans2.10%2.39%2.68%2.46%2.14%+4 bps
Net Charge-Offs / Loans1.79%1.63%1.86%1.89%2.08%+29 bps
Allowance / Loans1.51%2.24%2.28%2.22%5.11%+359 bps
Allowance Coverage of NPLs0.7x0.9x0.8x0.9x2.4x+1.7x
Capital
Tier 1 Leverage Ratio8.11%6.64%6.52%6.54%8.30%+18 bps
Total Risk-Based Capital11.23%9.71%10.18%9.84%12.77%+154 bps
Equity / Assets8.48%7.12%7.19%7.36%9.64%+116 bps
Liquidity & Funding
Loans / Deposits96.66%93.23%81.36%85.65%88.16%-851 bps
Liquid Assets / Assets5.58%8.71%15.73%10.89%12.00%+642 bps
CRE / Total Capitaln/a393%314%330%n/an/a