BROADWAY FINANCIAL CORP \DE\

Listed Company

BYFCCIK 0001001171NasdaqNon-AcceleratedSmaller ReportingSavings Institution, Federally CharteredDelawareFY ends Dec 31

Period

FY 2025

Revenue

$184.0K

Net Income

$-24.80M

Total Assets

$1.35B

Equity

$262.75M

Shares Out

6.15M

Op. Cash Flow

$230.0K

Business

BROADWAY FINANCIAL CORP operates as a bank holding company that owns and operates City First Bank, a mission-driven community development financial institution providing commercial banking services. It offers deposit products, treasury and borrowing solutions, investment securities, and a range of lending products including multi-family and commercial real estate mortgages, single-family loans, construction financing, commercial business loans, and SBA programs. Key business segments comprise lending (multi-family, commercial real estate, construction, commercial and SBA), investment management, deposit gathering and funding, and asset-quality oversight. The company distributes services through three branch offices in Southern California and Washington, D.C., online banking, broker channels and institutional relationships.

Summary from filing dated 2025-03-31

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest and fees on loans receivable	53	51	37	29	23
Interest on available-for-sale securities	6	7	9	6	1
Other interest income	2	6	1	2	525,000
Total interest income	61	64	47	36	25
Interest on deposits	20	13	8	2	2
Interest on borrowings	8	19	10	1	2
Total interest expense	28	32	18	—	—
Net interest income	33	32	29	33	21
Provision for credit losses	2	660,000	933,000	997,000	—
Net interest income after provision for credit losses	31	31	29	32	21
Service charges	184,000	155,000	179,000	145,000	249,000
Grants	275,000	280,000	4	0	2
Other	1	1	1	1	922,000
Total non-interest income	2	2	5	1	3
Compensation and benefits	19	18	16	14	16
Occupancy expense	2	2	2	2	2
Information services	3	3	3	3	4
Professional services	3	3	3	3	4
Supervisory costs	687,000	785,000	613,000	413,000	493,000
Corporate insurance	271,000	234,000	245,000	231,000	345,000
Amortization of core deposit intangible	315,000	336,000	390,000	435,000	393,000
Operational loss	100,000	0	—	—	—
Goodwill impairment	26	0	—	—	—
Other	3	3	3	2	2
Total non-interest expense	57	30	27	25	29
(Loss) Income before income taxes	−24	3	7	8	−5
Income tax expense	338,000	815,000	2	2	−937,000
Net (loss) income	−25	2	5	6	−4
Less: Net (loss) income attributable to non-controlling interest	−13,000	25,000	24,000	70,000	101,000
Net (loss) income attributable to Broadway Financial Corporation	−25	2	5	6	−4
Less: Preferred stock dividends	3	2	0	—	—
Net (loss) income attributable to common stockholders	−28	362,000	5	—	—
Unrealized gains on securities available-for-sale arising during the period	7	3	6	−24	−998,000
Income tax effect	2	930,000	2	−7	−283,000
Other comprehensive income, net of tax	5	2	4	−17	−715,000
Comprehensive (loss) income	−23	3	8	−11	−5
(Loss) Earnings per common share-basic (in dollars per share)	−3.23	0.04	0.52	0.62	−0.07
(Loss) Earnings per common share-diluted (in dollars per share)	−3.23	0.04	0.51	0.62	−0.07

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	2	2	5	7	38
Interest-bearing deposits in other banks	9	59	100	9	193
Cash and cash equivalents	11	61	105	16	232
Securities available-for-sale, at fair value (amortized cost of $265,371 and $219,658)	257	204	317	329	156
Loans receivable held for investment, net of allowance of $9,424 and $8,364	1,017	1,000	880	768	649
Accrued interest receivable	6	5	5	4	3
Federal Home Loan Bank (FHLB) stock	4	10	10	6	3
Federal Reserve Bank (FRB) stock	4	4	4	5	693,000
Office properties and equipment, net	9	9	9	10	10
Bank owned life insurance	24	3	3	3	3
Deferred tax assets, net	7	9	10	12	6
Core deposit intangible, net	1	2	2	3	3
Goodwill	0	26	26	26	26
Other assets	7	3	4	3	2
Total assets	1,346	1,335	1,375	1,184	1,094
Deposits	918	745	683	687	788
Securities sold under agreements to repurchase	81	67	74	64	52
Borrowings	72	227	—	—	—
Accrued expenses and other liabilities	12	11	14	12	12
Total liabilities	1,083	1,050	1,093	905	952
Additional paid-in capital	143	143	143	144	140
(Accumulated deficit) retained earnings	−15	13	13	9	4
Unearned Employee Stock Ownership Plan (ESOP) shares	−4	−4	−5	−1	−829,000
Accumulated other comprehensive loss, net of tax	−6	−11	−14	−17	−551,000
Treasury stock-at cost, 327,228 shares at December 31, 2025 and at December 31, 2024	−5	−5	−5	−5	−5
Total Broadway Financial Corporation and Subsidiary stockholders' equity	263	285	282	279	141
Non-controlling interest	206,000	219,000	194,000	170,000	100,000
Total liabilities and equity	1,346	1,335	1,375	1,184	1,094

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	410,000	424,000	385,000	376,000	—
Net change of deferred loan origination costs	531,000	641,000	413,000	229,000	−229,000
Net accretion of premiums and discounts on available-for-sale securities	−387,000	−807,000	−1	−225,000	643,000
Accretion of purchase accounting marks on loans	−253,000	−424,000	−235,000	−831,000	—
Accretion of premium on FHLB advances	0	−9,000	−23,000	—	—
ESOP compensation expense	149,000	188,000	—	66,000	109,000
Earnings on bank owned life insurance	−342,000	−46,000	−42,000	−43,000	−43,000
Deferred tax assets	27,000	−194,000	1	1	−1
Accrued interest receivable	−998,000	−63,000	−965,000	−601,000	−533,000
Other assets	−4	1	−677,000	−995,000	908,000
Accrued expenses and other liabilities	1	−3	2	−461,000	3
Net cash provided by operating activities	230,000	1	8	6	624,000
Net change in loans receivable held for investment	−19	−89	−115	−120	−63
Principal payments and maturities of available-for-sale securities	105	117	18	19	19
Purchases of available-for-sale securities	−150	0	0	−216	−17
Purchase of FHLB stock	−16	−14	−13	−5	−152,000
Proceeds from redemption of FHLB stock	21	14	9	2	1
Purchases of bank owned life insurance	−20	0	—	—	—
Purchase of office properties and equipment	−243,000	−138,000	−208,000	−323,000	−1
Net cash (used in) provided by investing activities	−79	28	−100	−324	25
Net change in deposits	172	63	−4	−101	119
Net change in securities sold under agreements to repurchase	14	−7	10	12	−8
Repayments of Bank Term Funding Program borrowing	0	−100	0	—	—
City First Bank Fund Manager II distribution	−170,000	0	—	—	—
Repayment of notes payable	0	−14	0	—	—
Dividends paid on ECIP preferred stock	−3	−2	0	−15,000	−60,000
Proceeds from other borrowings	0	3	—	—	—
Repayments of other borrowings	−31	−3	—	—	—
Proceeds from FHLB advances	956	339	456	96	5
Repayments of FHLB advances	−1,079	−353	−375	−53	−33
Net cash provided by (used in) financing activities	28	−74	182	102	110
Net change in cash and cash equivalents	−51	−44	89	−215	135
Cash paid for interest	28	31	17	3	4
Cash paid for income taxes	325,000	416,000	2	332,000	711,000

Filings

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