XML 31 R20.htm IDEA: XBRL DOCUMENT
v3.24.3

REGULATORY MATTERS | 9 Months Ended
--- | ---
Sep. 30, 2024
Banking And Thrift Disclsoure [Abstract] |
REGULATORY MATTERS | REGULATORY MATTERS Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action. Management believes that the Bank met all capital adequacy requirements to which it was subject at September 30, 2024 and December 31, 2023. Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. At September 30, 2024 and December 31, 2023, the most recent regulatory notifications categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that management believes have changed the institution’s classification. In February 2019, the federal bank regulatory agencies issued a final rule that revised certain capital regulations under ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, and included a transition option that allows banking organizations to phase in, over a three year period, the day one adverse effects of adoption on their regulatory capital ratios (three year transition option). In connection with the adoption of ASC 326 on January 1, 2023, the Company recognized an after-tax cumulative effect reduction to retained earnings. The Company elected to adopt the three year transition option and the deferral has been applied in capital ratios presented below. Actual and required capital amounts and ratios for the Bank are presented below at September 30, 2024:
| Actual |  | Required for Capital Adequacy Purposes |  | To be Well Capitalized Under Prompt Corrective Action Regulations
| Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio
Total Capital |  |  |  |  |  |  |  |  |  |  |
(to Risk Weighted Assets) | $ | 115,123 |  |  | 11.39 | % |  | $ | 80,848 |  |  | 8.00 | % |  | $ | 101,059 |  |  | 10.00 | %
Tier 1 Capital |  |  |  |  |  |  |  |  |  |  |
(to Risk Weighted Assets) | $ | 102,479 |  |  | 10.14 | % |  | $ | 60,636 |  |  | 6.00 | % |  | $ | 80,848 |  |  | 8.00 | %
Common Equity Tier 1 Capital |  |  |  |  |  |  |  |  |  |  |
(to Risk Weighted Assets) | $ | 102,479 |  |  | 10.14 | % |  | $ | 45,477 |  |  | 4.50 | % |  | $ | 65,689 |  |  | 6.50 | %
Tier 1 Capital |  |  |  |  |  |  |  |  |  |  |
(to Average Assets) | $ | 102,479 |  |  | 8.41 | % |  | $ | 48,768 |  |  | 4.00 | % |  | $ | 60,960 |  |  | 5.00 | %
Actual and required capital amounts and ratios for the Bank are presented below at December 31, 2023:
| Actual |  | Required for Capital Adequacy Purposes |  | To be Well Capitalized Under Prompt Corrective Action Regulations
| Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio
Total Capital |  |  |  |  |  |  |  |  |  |  |
(to Risk Weighted Assets) | $ | 114,256 |  |  | 13.03 | % |  | $ | 70,169 |  |  | 8.00 | % |  | $ | 87,711 |  |  | 10.00 | %
Tier 1 Capital |  |  |  |  |  |  |  |  |  |  |
(to Risk Weighted Assets) | $ | 103,274 |  |  | 11.77 | % |  | $ | 52,627 |  |  | 6.00 | % |  | $ | 70,169 |  |  | 8.00 | %
Common Equity Tier 1 Capital |  |  |  |  |  |  |  |  |  |  |
(to Risk Weighted Assets) | $ | 103,274 |  |  | 11.77 | % |  | $ | 39,470 |  |  | 4.50 | % |  | $ | 57,012 |  |  | 6.50 | %
Tier 1 Capital |  |  |  |  |  |  |  |  |  |  |
(to Average Assets) | $ | 103,274 |  |  | 9.38 | % |  | $ | 44,024 |  |  | 4.00 | % |  | $ | 55,030 |  |  | 5.00 | %
Dividend Restrictions Banking regulations limit the amount of dividends that may be paid. Approval by regulatory authorities is required if the effect of dividends declared would cause the regulatory capital of the Bank to fall below specified minimum levels. Approval is also required if dividends declared exceed the net profits of the Bank for that year combined with the retained net profits for the preceding two years.

X
- Definition Banking And Thrift Disclsoure + References No definition available. + Details
Name: | bafn_BankingAndThriftDisclsoureAbstract
Namespace Prefix: | bafn_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1D -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1D Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1A Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1F -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1F + Details
Name: | us-gaap_RegulatoryCapitalRequirementsUnderBankingRegulationsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration