If using dried navy beans, drain the soaked beans and place them in a large pot. Cover with fresh cold water by 3 inches. Bring to a boil, then reduce heat and simmer for 60–75 minutes until just barely tender. They should still have a slight firmness — they'll finish cooking in the oven. Drain and set aside. Skip this step if using canned beans.

Preheat your oven to 325°F (163°C). In a large Dutch oven or oven-safe pot, cook the bacon pieces over medium heat, stirring occasionally, until the fat renders and the bacon turns golden and crispy, about 8–10 minutes. Use a slotted spoon to transfer the bacon to a paper towel-lined plate. Leave all the rendered bacon fat in the pot — do not drain it.

Add the diced onion to the pot with the bacon fat and cook over medium heat, stirring occasionally, until softened and beginning to caramelize, about 6–8 minutes. Add the minced garlic and cook for another 60 seconds until fragrant, stirring constantly to prevent burning.

Add the ketchup, dark brown sugar, apple cider vinegar, Worcestershire sauce, yellow mustard, smoked paprika, liquid smoke, garlic powder, onion powder, cayenne (if using), salt, and black pepper directly to the pot with the onions. Stir well to combine and cook over medium heat for 2 minutes to let the flavors begin to bloom.

Add the drained cooked (or canned) beans to the pot along with the chicken broth. Stir everything to combine, making sure the beans are well coated in the sauce. Return about three-quarters of the crispy bacon to the pot and stir through. Bring to a gentle simmer on the stovetop, then cover the pot with a tight-fitting lid and transfer to the preheated oven.

Bake covered at 325°F for 60 minutes. Remove the lid, stir the beans gently, and check the consistency. The sauce should be thickening but still quite saucy. If it looks dry, add a splash more broth or water. Return the pot to the oven uncovered and continue baking for another 30–45 minutes, until the sauce is thick, sticky, and deeply caramelized on top.

Remove from the oven and let the beans rest for 5–10 minutes — they will thicken further as they cool. Taste and adjust seasoning: add more vinegar if it needs brightness, more brown sugar if it needs sweetness, or a pinch more salt to sharpen all the flavors. Top with the reserved crispy bacon and serve hot.