BayFirst Financial Corp. (BAFN) Earnings Call Transcript & Summary

Good morning, everyone, and welcome to the BayFirst Annual Shareholder Meeting. I want to thank everyone for their continued support of BayFirst, including our customers and employees. I want to remind you that the rights offering is underway for all legacy shareholders of record as of May 12, 2026, and that you have until September 30, 2026, to submit your subscription. Please see the prospectus we filed with the SEC on September 1, 2026, or contact your broker for assistance. In the prospectus, you will see that we also engage Regan & Associates to help with any issues and questions. Now I'm going to hand the meeting over to our Corporate Secretary and CFO, Scott McKim, who will be presenting the business portion of the meeting, including the results of the shareholder vote. Scott?

Thank you, Anthony. Good morning, everyone. The notice of the Annual Meeting of Shareholders of BayFirst Financial Corp. was mailed to all shareholders of record as of August 3, 2026, together with a proxy statement setting forth the purpose of the meeting. Further, the presence in person or by proxy of the holders of a majority of the shares entitled to vote at the annual meeting constitutes a quorum for the transaction of business. We have at least 23,800,358 or 88% of outstanding shares represented in person or by proxy, and thereby, a quorum is constituted. If you have not voted by proxy and would like to do so now, please indicate so in the question function, and we will provide a ballot. I am not seeing any request for a ballot at this time. So therefore, the polls are closed. Also, if you do have a question and you are registered in the meeting, please place your question in the question section, and we will follow up with you after the meeting later this morning. Our first proposal is the election of directors. So this proposal is to consider and vote upon the election of 12 directors of the company to serve until the expiration of their respective terms or until their successors have been duly elected and qualified. The election of directors after a quorum of shares has been established requires a plurality vote of the votes cast. We have at least 23,579,244 affirmative votes cast for each director nominee, which represents 99% of the votes cast. Therefore, each nominee is elected, and I am pleased to welcome the following directors to BayFirst Financial: Mark S. Berset; William T. Conroy; Dennis R. DeLoach, III; Kenneth R. Lehman; Christos Politis, M.D.; Alfred T. Rogers, Jr.; Anthony Saravanos; Bradly W. Spoor; William I. Sultenfuss, II; Joseph E. Taggart; Andrew P. Wright; Barbara J. Zipperian. The second proposal to adjourn the meeting to a later date, if necessary, to solicit additional proxies to establish a quorum or approve Proposal 1 is now moot as a quorum has been established and Proposal 1 has been approved. Now I would like to hand the call over to Al Rogers, CEO and President of BayFirst Financial and BayFirst National Bank. Al?

Thank you, Scott, and thank you to each of our shareholders for your continued support of BayFirst. This has been an important year of transition for the company, and we remain focused on strengthening our community banking platform, serving our customers well and moving BayFirst forward with discipline and purpose. I'm pleased to welcome our newly elected Board of Directors, and I look forward to working with them as we continue executing our strategic priorities. I also want to express our sincere appreciation to our outgoing Board members for their service, leadership and commitment to BayFirst. On behalf of our Board of Directors and management team and all of our employees, thank you again for your confidence in BayFirst. We appreciate your participation today and your continued investment in our future, and we thank you for your ongoing confidence in and support of BayFirst.

With that, we will adjourn the meeting this morning. Thank you.

Adjourning the meeting at 8:35.