BayFirst

What BayFirst does

BayFirst Financial Corp (NASDAQ: BAFN) is a publicly traded community bank holding company that operates BayFirst National Bank, headquartered at 700 Central Avenue in St. Petersburg, Florida. Founded in 1999, the company serves individual consumers, small-to-medium businesses, nonprofits, and specialized youth and senior segments through 11-12 physical banking centers spread across the Tampa Bay-Sarasota corridor, supplemented by a digital banking platform with iOS and Android mobile apps. Customer segments include general consumers (checking, savings, mortgages, vehicle and home-equity loans), SMBs (commercial checking, commercial real estate, construction, equipment financing, treasury management, merchant services), nonprofits and associations (NOW Interest Checking, IOLTA, association banking), and youth/seniors (Teen Checking, Cash Kids Club for children 12 and under, TrendSetters Club for ages 50+).

The technology stack centers on a digital banking platform that integrates a mobile app, online account opening, an aggregated multi-account financial planning tool (Spending Habits), automated savings (RoundUp), early direct deposit (Forward Pay), mobile check deposit, credit monitoring (My Credit Manager), and Zelle peer-to-peer payments. Loan origination is supported by a MeridianLink partnership. Core banking services sit on a Visa debit network, with fee-free ATM access across 55,000+ AllPoint and Publix Presto network locations. Proprietary technology is conventional consumer banking functionality rather than differentiated AI or platform infrastructure; no AI/ML capabilities are disclosed.

The business model is a traditional spread-driven community bank generating revenue from net interest income on loans and securities, account and overdraft fees, and debit card interchange. Deposit pricing is tiered and competitive — BayLive Checking up to 1.44% APY, BayLive Money Market up to 2.59% APY, CDs from 2.25% to 3.64% APY — with rates roughly 20x the national average in some products. The bank operated 12 banking centers (one source notes 11) as of recent disclosure, served a deposit base of $1.18 billion (Q4 2025), and held total assets of approximately $1.2 billion. The company is currently navigating a strategic exit from SBA 7(a) government-guaranteed lending following substantial losses, a $80 million capital raise in Q1 2026, and a CEO transition to Alfred T. Rogers, Jr. in May 2026.

Name

BayFirst

Legal name

BayFirst National Bank

Website

https://bayfirstfinancial.com

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

251–500 employees

Short description

BayFirst Financial Corp (NASDAQ: BAFN) operates BayFirst National Bank, a community bank serving consumers, small businesses, nonprofits, and youth/senior segments through 11-12 branches and digital channels across the Tampa Bay-Sarasota region of Florida.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (522110)

SIC

National Commercial Banks (6021)

akta.pro primary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

akta.pro secondary industry

Account Aggregation & Connectivity (Multi-bank linking) (FSAGACAA)

Keywords

• Community banking services
• Personal banking products
• Business lending solutions
• Mortgage and home equity
• Digital banking platform

Headquarters

HQ city

St. Petersburg

HQ country

United States

HQ region

North America

Offices13 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Interest Income: Traditional banking revenue from interest earned on loans including personal loans, vehicle loans, home equity loans, mortgages, and business loans. Interest is earned on various lending products including SBA loans (though the bank is exiting this business), commercial real estate loans, and consumer loans.
2. Account Fees and Service Charges: Monthly maintenance fees on certain accounts (e.g., $1.95 Essential Checking, $10 BayLive Checking, $15 Commercial Checking), overdraft fees, and various service charges. Some fees can be waived with minimum balances or direct deposits.
3. Interchange Income: Revenue from debit card transactions including network fees from Visa and AllPoint/Publix Presto ATM partnerships.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

BayFirst National Bank is a community bank providing personal and business banking products, including checking and savings accounts, certificates of deposit, IRAs, personal and vehicle loans, home equity loans and lines of credit, residential mortgages, and a full suite of commercial lending (CRE, construction, equipment, term loans, lines of credit, SBA 504 and USDA). The bank operates 12 physical branches in the Tampa Bay-Sarasota region complemented by a mobile app, online account opening, Zelle P2P payments, and digital money management tools such as Spending Habits, Forward Pay, RoundUp, Smart Pay, and My Credit Manager.

Product overview

BayFirst Financial is a community bank offering a comprehensive portfolio of personal and business banking products and services. The company operates through a platform of traditional banking offerings including multiple checking and savings account types, loans (personal, mortgage, home equity, and business lending), and digital banking tools. Personal banking includes five checking accounts (Simply Free, Interest Advantage, BayLive, Essential, and Teen Checking), savings products (Statement Savings, BayLive Money Market, CDs, Cash Kids Club, and IRAs), and lending (personal loans, vehicle loans, home equity products, and residential mortgages). Business banking encompasses checking accounts (Free, Commercial Interest, Commercial, NOW Interest, and IOLTA), business lending (government-guaranteed, term loans, lines of credit, commercial real estate, construction, and equipment financing), and treasury/merchant services. Digital banking features include a mobile app, Forward Pay (early direct deposit), Smart Pay (loan payments), RoundUp savings, Spending Habits (financial planning), My Credit Manager, and Zelle P2P payments. The bank operates 11-12 banking centers across the Tampa Bay-Sarasota region with access to 55,000+ free ATMs through AllPoint and Publix Presto networks.

Differentiator

Problem solved

Functional benefit

Brands

• BayFirst: Primary community banking brand offering personal and business banking products including checking, savings, loans, and digital banking services.
• BayFirst National Bank

Products and services

• Simply Free Checking Basic personal checking account with no monthly fees and no minimum balance requirements, including instant-issue contactless debit card and access to 55,000 free ATMs, targeted at general consumers seeking fee-free everyday banking.
• Interest Advantage Checking Tiered interest-earning personal checking account offering up to 1.05% APY on balances of $2,500 or more, with monthly fees waived with qualifying direct deposits or minimum daily balance, for consumers seeking yield on operating cash.
• BayLive Checking High-yield personal checking account earning up to 1.44% APY on balances under $25,000 (about 20x the national average), with activity requirements of direct deposit and 10 electronic debit transactions per cycle, targeted at digitally active consumers.
• Essential Checking Bank On-certified second-chance personal checking account with no overdraft fees, designed for customers rebuilding their finances, requiring only a $10 minimum deposit to open.
• Teen Checking Joint checking account for teens ages 13-18 with parental controls, earning 1.01% APY with no overdraft fees, card lock/unlock features for parents, and Bank On certification.
• Statement Savings Personal savings account earning 1.19% APY on all balances with a $50 minimum deposit, allowing up to six transactions per month with interest compounded daily.
• BayLive Money Market High-yield money market account requiring pairing with BayLive Checking, earning up to 2.59% APY on balances of $50,000 or more, with flexible access via ATM, debit card, or checks.
• Certificates of Deposit (CD) Fixed-rate CDs with terms from 6 to 60 months and APYs ranging from 2.25% to 3.64%, requiring a $1,000 minimum opening deposit, for customers seeking guaranteed returns.
• Cash Kids Club Savings Savings account for children 12 and under earning up to 4.83% APY with tiered rates, free club membership including welcome kit and community partner perks, no minimum balance.
• Individual Retirement Account (IRA) CDs IRA CDs available as Traditional or Roth options with fixed rates ranging from 2.25% to 3.49% APY, offering penalty-free withdrawals and unlimited deposits during the term for retirement savers.
• Personal Loans Secured personal loans including CD-Secured and Money Market-Secured Loans, available to Florida residents for home improvements or major purchases.
• Vehicle Loans Financing for vehicles including auto loans, boats and personal watercraft, RVs, motorcycles, ATVs, and golf carts with competitive rates and quick approval, for individual consumers.
• Home Equity Loans Fixed-rate home equity loans allowing borrowing up to 100% of home value at rates starting at 8.74% APR, with terms of 5, 10, 15, or 20 years, for homeowners.
• Home Equity Line of Credit (HELOC) Revolving line of credit against home equity with a 10-year draw period and up to 20-year repayment period, rates starting at 8.75% APR, for homeowners needing flexible access to funds.
• Home Improvement Loan Loans up to 133% of home value for major renovations, with rates starting at 8.74% APR and payment terms up to 20 years, targeted at homeowners funding renovation projects.
• Residential Mortgages Mortgage products including Conventional, FHA, VA, USDA, and Jumbo loans with local expert lenders guiding customers through the home loan process, for home buyers and refinancing homeowners.
• Free Business Checking Business checking account with no monthly fees or minimum balance requirements, including up to 250 transaction items and $7,500 cash deposits per statement cycle, for small businesses.
• Commercial Interest Checking Interest-earning business checking account for growing businesses, earning up to 0.90% APY on balances with higher transaction and cash deposit limits.
• Commercial Checking Business checking account with no per-item charges or minimum balance requirements, offering free online banking and bill pay tools, for businesses with higher transaction volume.
• NOW Business Interest Checking Tiered interest-earning checking account designed for nonprofits, clubs, and sole proprietorships with no monthly fees, providing yield on operating balances.
• IOLTA (Interest on Lawyers' Trust Account) Specialized trust account for legal professionals earning 1.44% APY, with interest automatically remitted to the State of Florida Bar Foundation, for attorneys required to maintain client trust funds.
• Commercial Money Market Business money market account with competitive rates for businesses maintaining higher balances as a liquidity reserve.
• Government-Guaranteed Loans (SBA 504 / USDA) Business loans including SBA 504 and USDA Rural Development loans designed to support long-term business growth, for businesses in eligible areas.
• Commercial Term Loans Business term loans for acquisitions, renovations, and working capital with predictable payments and competitive rates, for SMBs.
• Commercial Lines of Credit Revolving credit lines for businesses to manage cash flow, inventory purchases, and short-term working capital needs.
• Commercial Real Estate Loans Financing for purchasing, refinancing, or improving owner-occupied, investment, multifamily, or mixed-use commercial properties, for real estate investors and businesses.
• Construction Loans Loans for commercial or residential construction projects covering new builds, renovations, or additions, for developers and property owners.
• Heavy Equipment Financing Financing for business equipment, trucks, and specialized tools with flexible options for small fleets and owner-operators.
• Treasury Management Cash management services for businesses to optimize financial operations including receivables, payables, and liquidity.
• Merchant Services Payment processing services enabling businesses to accept card transactions from customers.
• Healthcare Banking Solutions Specialized banking services tailored for healthcare providers and practices, addressing the unique cash flow and operational needs of medical practices.
• Association Banking Banking services designed for professional and trade associations, including operating accounts and treasury management.

Quantifiable outcome

• Competitive deposit rates: BayLive Checking up to 1.44% APY (20x national average), Cash Kids Club up to 4.83% APY
• +2 more outcomes

Named customers4 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature6 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• AllPoint NetworkcoreOthersPartnership with AllPoint Network provides BayFirst customers access to 55,000+ fee-free ATMs across the United States. This partnership is a key differentiator, allowing customers to avoid ATM fees when withdrawing cash nationwide.
• Publix PrestocoreOthersPartnership with Publix Presto ATM network provides additional fee-free ATM access at Publix supermarket locations throughout the Southeast, complementing the AllPoint network for comprehensive ATM coverage.
• VisacoreTechnology or IntegrationBayFirst debit cards operate on the Visa payment network, providing worldwide acceptance for purchases and ATM transactions. Visa's network enables contactless payments, chip technology, and secure transaction processing.
• Early Warning Services (Zelle)coreTechnology or IntegrationIntegration with Zelle peer-to-peer payment service allows BayFirst customers to send and receive money easily with friends, family, and others they trust directly from their BayFirst accounts.
• U.S. Small Business Administration (SBA)minorStrategic or Co-development PartnerFormer partnership for SBA 7(a) loans which the bank is now exiting. Previously offered government-guaranteed small business loans including 504 loan programs. Bank announced strategic pivot away from SBA lending in Q3 2025.
• USDA Rural DevelopmentminorStrategic or Co-development PartnerPartnership to offer USDA rural development loans for eligible businesses in rural and suburban areas. One of the government-guaranteed loan programs still offered alongside 504 loans.
• MeridianLinkcoreTechnology or IntegrationOnline loan application platform partner enabling customers to apply for personal, home equity, and vehicle loans through BayFirst's digital channels. Provides streamlined loan application and approval process.

Scale indicators8 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• TowneBank: Southeast US community bank offering personal and business banking, mortgages, and wealth services with a relationship-focused culture. Similar size and community-led GTM motion to BayFirst.
• Atlantic Union Bankshares: Virginia-based regional bank providing commercial banking, retail, and mortgage services with a community focus. Similar mid-Atlantic/southeast community banking model with comparable asset size range.
• United Community Banks: Regional community bank operating across the Southeast with full-service branches, commercial lending, and consumer banking products. Comparable mid-sized community bank business model.
• Seacoast Banking Corporation of Florida: Florida-based community bank headquartered on the Treasure Coast offering personal and business banking, lending, and wealth services across the state. Direct geographic and business-model peer to BayFirst's Florida community banking franchise.
• Trustmark Corporation: Community-oriented bank providing personal, commercial, and wealth management services across the Southeast US. Comparable mid-sized regional bank with similar product breadth.
• Pinnacle Financial Partners: Community-focused regional bank known for relationship-based banking model, serving SMBs and consumers with full-service branches. Strong cultural analog to BayFirst's local, relationship-driven approach.

Broad incumbents

• First Horizon Corporation: Large regional bank (NYSE: FHN) with significant Florida presence offering consumer and commercial banking services. Comparable product mix but operates at much greater scale than BayFirst.
• BankUnited: Larger Florida-headquartered commercial and consumer bank (NYSE: BKU) offering deposit accounts, commercial lending, and treasury services across the state. Comparable business mix but materially larger scale than BayFirst.
• Cadence Bank: Mid-sized regional bank (NYSE: CADE) offering consumer, commercial, and treasury management products across the Southeast and Texas. Overlapping business lines with BayFirst but at a larger scale.
• Home BancShares: Regional bank holding company operating Centennial Bank with branches across the South including Florida. Comparable community banking model but at a substantially larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/BayFirstBank
• LinkedInlinkedin.com/company/mycompany
• Instagraminstagram.com/bayfirstbank

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BayFirst