Mission Statement, Vision, & Core Values of BayFirst Financial Corp. (BAFN)

With assets totaling $1.29 billion as of December 31, 2024, BayFirst Financial Corp. stands as a key player in the Tampa Bay-Sarasota region. But have you ever wondered what drives this financial institution beyond the numbers?

Understanding the mission, vision, and core values of any organization offers valuable insights into its strategic direction and operational philosophy. What principles guide BayFirst Financial as it strives to enhance financial well-being and foster growth for individuals, families, and small businesses?

Delving into these guiding principles can reveal how BayFirst reported a net income of $12.6 million for the year ended December 31, 2024, compared to $5.7 million the previous year, and how it was named the best bank in Florida in 2024. Let's explore the foundation upon which BayFirst Financial Corp. builds its success.

BayFirst Financial Corp. (BAFN) An Overview of

BayFirst Financial Corp., through its subsidiary BayFirst National Bank, has a history rooted in serving the Tampa Bay community. Originally founded as First Home Bank, the institution rebranded to BayFirst National Bank to better reflect its broader range of services and commitment to the local economy. Today, BayFirst operates multiple branches throughout the Tampa Bay area, offering a comprehensive suite of financial products, including:

• Commercial and personal banking
• Mortgage services
• Treasury management

As of April 2025, BayFirst continues to focus on providing personalized service and building strong relationships with its customers.

In the latest financial reports, BayFirst Financial Corp. has demonstrated strong financial performance. The company reported record-breaking revenue, driven significantly by the growth in its commercial lending and deposit services. Specifically, the bank's expansion in key markets, such as St. Petersburg and Sarasota, has contributed to a substantial increase in its customer base and overall transaction volume. The bank's strategic investments in technology and customer service have also played a crucial role in enhancing its operational efficiency and customer satisfaction. The data from the 2024 fiscal year highlights a significant increase in net income compared to the previous year, reflecting effective management and a favorable economic environment in the Tampa Bay region.

BayFirst Financial Corp. stands out as a leading financial institution in the Tampa Bay area due to its deep community ties, comprehensive service offerings, and strong financial performance. Its commitment to local businesses and residents, combined with its strategic growth initiatives, positions it as a key player in the regional banking sector. Discover more about the factors driving BayFirst's success: Exploring BayFirst Financial Corp. (BAFN) Investor Profile: Who’s Buying and Why?

BayFirst Financial Corp. (BAFN) Mission Statement

BayFirst Financial Corp., operating through its subsidiary BayFirst National Bank, aims to serve the Tampa Bay community by assisting individuals, families, and small businesses in achieving their goals. BayFirst strives to be a progressive institution in its products & services, technology, design, and social responsibility. BayFirst Financial Corp. is committed to the highest standards in all aspects of its operations.

BayFirst is committed to making an impact in its own community and being Here for What's Next® in the lives of every customer it serves. Exploring BayFirst Financial Corp. (BAFN) Investor Profile: Who’s Buying and Why?

Core Components of BayFirst's Mission

BayFirst's mission extends beyond financial services by creating meaningful connections and fostering growth in the communities it serves. BayFirst's commitment to corporate social responsibility is reflected in every decision it makes, from supporting nonprofits and creating financial literacy programs to fostering economic inclusivity.

• Community Focus: BayFirst puts the Tampa Bay community first, impacting it through financial services and community involvement.
• Customer Support: BayFirst supports customers through every phase of their financial journeys, offering specialized programs and products to cater to the unique needs of all community members.
• Progressive Institution: BayFirst strives to be a progressive institution in its products & services, technology, design, and social responsibility.

Financial Performance and Community Impact in 2024

BayFirst Financial Corp. reported a strong financial performance for the year ended December 31, 2024:

• Net income of $12.6 million, or $2.68 per common share ($2.62 per diluted common share)
• Compared to $5.7 million, or $1.16 per common share ($1.12 per diluted common share) for the year ended December 31, 2023.
• In Q4 2024, BayFirst reported net income of $9.8 million, or $2.27 per common share, or $2.11 per diluted common share, a 759.8% increase compared to Q3 2024.
• The Company's government guaranteed loan team originated $107.8 million in new loans during the fourth quarter of 2024.
• As of December 31, 2024, BayFirst Financial Corp. had $1.29 billion in total assets.

BayFirst was named the best bank in Florida in 2024 by Forbes Magazine. BayFirst National Bank proudly serves the Tampa Bay area and businesses nationwide. BayFirst has provided more than $2 billion in loans to keep small businesses moving forward.

BayFirst is committed to providing fair and equitable access to the banking system, engaging with communities, addressing climate change, and providing full disclosure and transparency.

BayFirst Financial Corp. (BAFN) Vision Statement

Understanding the strategic direction of BayFirst Financial Corp. (BAFN) requires a close examination of its mission, vision, and core values. These elements provide a roadmap for the company's goals, aspirations, and operational principles. Here's an overview of these key components.

Mission Statement:

BayFirst Financial Corp.’s mission is to provide financial solutions and build lasting relationships within the communities it serves. The company focuses on understanding and meeting the unique needs of its customers through personalized service and community involvement. This mission emphasizes a commitment to both financial performance and community development.

Vision Statement:

The vision of BayFirst Financial Corp. is to be the premier community bank in the markets they serve, recognized for their exceptional service, community leadership, and financial performance. This forward-looking statement guides the company's strategic initiatives and long-term goals. Below are a few key elements of the vision statement.

Exceptional Service:

One of the foundational pillars of BayFirst Financial Corp.'s vision is its commitment to exceptional service. This involves:

• Customer-Centric Approach: Prioritizing customer needs and delivering personalized financial solutions.
• Service Quality: Maintaining high standards in all customer interactions, ensuring efficiency, accuracy, and a positive experience.
• Employee Training: Investing in employee development to equip staff with the knowledge and skills needed to provide top-tier service.

Community Leadership:

BayFirst Financial Corp. aims to be a leader in the communities it serves. This encompasses:

• Local Investment: Supporting local businesses and initiatives through lending and financial services.
• Community Engagement: Participating in local events, sponsorships, and volunteer activities to strengthen community bonds.
• Philanthropy: Contributing to local charities and non-profit organizations to address community needs.

Financial Performance:

Sustained financial health is critical to BayFirst Financial Corp.'s vision, demonstrated through:

• Profitability: Achieving consistent profitability to ensure long-term sustainability and growth. In the 2024 fiscal year, BayFirst Financial Corp. reported a net income of $15.6 million, reflecting a strong financial position.
• Asset Quality: Maintaining a high-quality asset portfolio to minimize risk and maximize returns. As of December 31, 2024, the company’s total assets were approximately $1.2 billion.
• Shareholder Value: Enhancing shareholder value through strategic investments, efficient operations, and effective capital management.

Core Values:

BayFirst Financial Corp. operates on a set of core values that guide its behavior and decision-making:

• Integrity: Maintaining the highest ethical standards in all actions and decisions.
• Teamwork: Fostering a collaborative environment where employees work together to achieve common goals.
• Innovation: Encouraging creativity and continuous improvement to adapt to changing market conditions and customer needs.
• Accountability: Taking responsibility for actions and results, ensuring transparency and reliability.

For more insights into BayFirst Financial Corp.'s history, mission, and operational framework, explore BayFirst Financial Corp. (BAFN): History, Ownership, Mission, How It Works & Makes Money.

BayFirst Financial Corp. (BAFN) Core Values of

At BayFirst Financial Corp. (BAFN), a strong set of core values guides every action and decision. These values reflect BayFirst's commitment to its customers, employees, shareholders, and the communities it serves.

Integrity

Integrity is at the heart of BayFirst's operations. BayFirst is dedicated to maintaining the highest ethical standards in all its dealings, ensuring transparency and trustworthiness. This commitment extends to every level of the organization, fostering a culture of honesty and accountability.

• BayFirst emphasizes compliance and ethical behavior in all employee training programs.
• The company's code of conduct clearly outlines expectations for ethical decision-making.
• Regular audits and risk assessments are conducted to ensure adherence to these standards.

For instance, BayFirst's dedication to integrity is evident in its transparent financial reporting and its proactive approach to regulatory compliance, ensuring that all stakeholders can trust in the accuracy and reliability of its operations. More insights about BAFN financial helath can be found here: Breaking Down BayFirst Financial Corp. (BAFN) Financial Health: Key Insights for Investors

Customer Focus

BayFirst places customers at the center of its business strategy. The company strives to understand and meet the unique needs of each customer, providing personalized service and tailored solutions. This focus extends to building long-term relationships based on trust and mutual respect.

• BayFirst offers a range of financial products and services designed to meet diverse customer needs.
• Customer feedback is actively sought and used to improve service delivery.
• The company invests in technology to enhance the customer experience.

For example, BayFirst's commitment to customer focus is demonstrated through its community banking initiatives, which provide financial support and resources to local businesses and individuals, fostering economic growth and stability in the regions it serves.

Community Engagement

BayFirst is deeply committed to the well-being of the communities it serves. The company actively supports local initiatives and organizations through financial contributions, volunteer efforts, and partnerships. This engagement reflects a belief in giving back and making a positive impact on society.

• BayFirst supports local charities and non-profit organizations through corporate donations.
• Employees are encouraged to volunteer their time and skills to community projects.
• The company sponsors events and programs that benefit the community.

BayFirst's community engagement is exemplified by its support for affordable housing projects and financial literacy programs, which help to address critical needs and empower individuals to achieve financial independence.

Teamwork and Collaboration

BayFirst fosters a culture of teamwork and collaboration, recognizing that collective success depends on the contributions of each individual. The company encourages open communication, mutual support, and shared responsibility, creating an environment where employees can thrive and excel.

• BayFirst promotes cross-functional collaboration to leverage diverse skills and perspectives.
• Employees are encouraged to share ideas and feedback to improve processes and outcomes.
• The company recognizes and rewards team achievements.

For example, BayFirst's collaborative approach is evident in its project management processes, where teams from different departments work together to develop and implement innovative solutions that meet the evolving needs of its customers and the market.

Excellence and Innovation

BayFirst is committed to pursuing excellence in all aspects of its business. The company continuously seeks opportunities to improve its products, services, and processes, embracing innovation and technology to stay ahead of the curve. This dedication to excellence drives growth and creates value for shareholders.

• BayFirst invests in research and development to identify new opportunities and improve existing offerings.
• The company encourages employees to think creatively and challenge the status quo.
• BayFirst adopts best practices and benchmarks against industry leaders to drive continuous improvement.

BayFirst's pursuit of excellence and innovation is reflected in its adoption of digital banking technologies, which enhance efficiency, improve customer service, and enable the company to expand its reach and impact in the financial industry.