Broadway Financial Earnings Reports

Broadway Financial Corporation reported a net income attributable to Broadway of $1.3 million for Q4 2024, a decrease of $1.3 million compared to Q4 2023. The diluted earnings per common share was $0.06, compared to $0.31 in the same quarter of the previous year. Net interest income increased by $850 thousand, or 11.9%, reaching $8.0 million.

Broadway Financial Corporation reported a net income attributable to Broadway of $522 thousand for the third quarter of 2024, compared to $91 thousand for the third quarter of 2023. The increase in net income was primarily due to higher interest income, partially offset by higher interest expense.

Broadway Financial Corporation reported consolidated net earnings of $269 thousand, or $0.03 per diluted share, for the second quarter of 2024. Net interest income increased by $650 thousand, or 8.9%, to $7.9 million compared to the second quarter of 2023. Total gross loans receivable increased by $59.0 million to $946.8 million at June 30, 2024, compared to December 31, 2023.

Broadway Financial Corporation reported a consolidated net income of $243 thousand, or $0.00 per diluted share, for Q2 2023, a decrease compared to Q2 2022. The decrease was primarily due to increased interest expense and a provision for credit losses.

Broadway Financial Corporation reported a consolidated net income of $1.6 million, or $0.02 per diluted share, for Q1 2023, compared to $958 thousand, or $0.01 per diluted share, for Q1 2022, with net interest income increasing by $1.1 million, or 15.4%, to $8.3 million.

Broadway Financial Corporation reported a consolidated net income of $1.5 million, or $0.02 per diluted share, for Q4 2022, compared to a net loss of $1.4 million, or ($0.02) per diluted share, for Q4 2021. The increase in net interest income and a decrease in non-interest expenses primarily drove this improvement.

Broadway Financial Corporation reported a significant increase in net income for Q3 2022, reaching $1.3 million, compared to $182 thousand in Q3 2021. This improvement was driven by a 43.7% increase in net interest income, resulting from higher rates earned and increased average balances of investment securities. The company also saw a rise in loan originations and an expansion of its net interest margin.

Broadway Financial Corporation reported consolidated net earnings of $1.9 million, or $0.03 per diluted share, for the second quarter of 2022, compared to consolidated net earnings of $701 thousand, or $0.01 per diluted share, for the second quarter of 2021.

Broadway Financial Corporation reported a net income of $958 thousand, or $0.01 per diluted share, for the first quarter of 2022, compared to a net loss of $3.5 million, or ($0.13) per share, for the first quarter of 2021. The results were positively impacted by an increase in net interest income and a decrease in non-interest expense.

Broadway Financial Corporation reported a consolidated net loss of $1.4 million, or ($0.02) per diluted share, for Q4 2021. The loss was primarily due to increased non-interest expenses, including data processing and employee-related costs, partially offset by higher net interest income.

Broadway Financial Corporation reported a consolidated net income of $182 thousand, or $0.00 per diluted share, for the third quarter of 2021. The net income increased by $426 thousand compared to the third quarter of 2020, driven by growth in net interest income and grant and fee income, but was partially offset by additional operating expenses and data processing costs.

Broadway Financial Corporation reported a net income of $701 thousand, or $0.01 per diluted share, for the second quarter of 2021. Results reflect the merger with CFBanc Corporation on April 1 and completion of private placements of common stock on April 6, 2021. Total assets exceeded $1 billion, and total loans receivable, net of allowances, were over $600 million.

Broadway Financial Corporation reported a consolidated net loss of $3.5 million, or ($0.13) per share, for Q1 2021, primarily due to $5.4 million in merger-related expenses. The merger with CFBanc Corporation was completed on April 1, 2021, and a private placement raised $32.9 million in gross proceeds.

Broadway Financial Corporation reported a net loss of $581 thousand, or ($0.02) per share, for the fourth quarter of 2020. The loss was primarily due to costs associated with the pending merger with CFBanc Corporation, post-merger integration, and related private placements of equity capital.

Broadway Financial Corporation reported a net loss of $244 thousand, or ($0.01) per diluted share, for the third quarter of 2020. The results were impacted by merger-related expenses and higher income tax expense, offsetting the benefits of loan portfolio growth and decreased cost of funds.

Broadway Financial Corporation reported a net income of $216 thousand, or $0.01 per diluted share, for the second quarter of 2020, compared to a net loss of $135 thousand, or ($0.01) per diluted share, for the second quarter of 2019. The increase was primarily due to an income tax adjustment of $273 thousand and an increase in net interest income of $569 thousand.

Broadway Financial Corporation reported a net loss of $33 thousand, or $0.00 per share, for the first quarter of 2020, compared to net income of $277 thousand, or $0.01 per diluted share, for the first quarter of 2019. The results were impacted by the COVID-19 pandemic and a challenging interest rate environment.

Broadway Financial Corporation reported a net loss of $69 thousand for Q4 2019, compared to a net income of $275 thousand in Q4 2018. The results were affected by a loan loss provision of $294 thousand and the lack of gain on loan sales, offset by increases in net interest income.