Broadway Financial Q2 2021 Earnings Report

Broadway Financial Corporation's net income increased following the merger with CFBanc Corporation and private placements of common stock.

Key Takeaways

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.

Net income for the second quarter of 2021 was $701 thousand, or $0.01 per diluted share.

Total assets exceeded $1 billion, representing an increase of over 115% since December 31, 2020.

Total loans receivable, net of allowances, were over $600 million, representing an increase of $255 million, or 70.7%, since December 31, 2020.

Deposits totaled $705 million as of June 30, 2021, reflecting growth of $39 million, or 5.9%, since the Merger date.

Total Revenue

$8.01M

Previous year: $3.27M