Loading...
•
Dec 31, 2019
Broadway Financial Q4 2019 Earnings Report
Broadway Financial Corporation reported a net loss for the fourth quarter of 2019, impacted by a loan loss provision and the absence of loan sales, while net interest income increased.
Key Takeaways
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.
Net loss of $69 thousand, or less than $0.01 per share, compared to net income of $275 thousand, or $0.01 per diluted share, for the fourth quarter of 2018.
Net interest income increased by $336 thousand compared to the fourth quarter of 2018.
The Bank recorded a loan loss provision of $294 thousand for the fourth quarter of 2019 compared to a loan loss provision recapture of $254 thousand for the fourth quarter of 2018.
The company did not sell any loans in Q4 2019, resulting in no gain on sale of loans, compared to a $50 thousand gain in Q4 2018.
Revenue by Segment
Forward Guidance
Going forward, Broadway Financial will continue leveraging loan origination capabilities while maintaining loan portfolio quality, implementing changes to reduce non-interest expenses and improve operating efficiency, leverage, and profitability.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...