Preheat oven to 350°. Place bacon in a cold, large Dutch oven or ovenproof pot. Cook over medium heat, stirring often, until browned and much of the fat is rendered, about 10 minutes.
Add onion, bell pepper, black pepper, paprika, and 1 teaspoon salt. Continue to cook, stirring often, until vegetables are slightly softened and fragrant, about 5 minutes.
Stir in ketchup, molasses, mustard, brown sugar, water, vinegar, Worcestershire, and remaining 1 teaspoon salt. Bring to a gentle simmer, then remove from heat. Add beans and stir to combine.
Transfer pot to oven and bake, uncovered, until slightly reduced, bubbly, and browned on top, about 45 minutes. Let sit 10 minutes before stirring and serving.
