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Sep 30, 2024
Broadway Financial Q3 2024 Earnings Report
Broadway Financial Corporation reported an increase in net income for the third quarter of 2024, driven by growth in interest income.
Key Takeaways
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.
Net income attributable to Broadway increased by $431 thousand compared to Q3 2023.
Net interest income increased by $1.5 million, or 23.0%, compared to Q3 2023.
Total interest income increased by $4.2 million, or 35.5%, compared to Q3 2023.
The yield on average interest-earning assets increased by 73 basis points compared to Q3 2023.
Broadway Financial
Broadway Financial
Forward Guidance
No specific forward guidance provided in the earnings report.