BROADWAY FINANCIAL CORP \DE\
For the period ended Dec 31, 2024. Filed Mar 31, 2025.
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FY2024 · Filed Mar 31, 2025
BYFC$11.52-3.9%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
Cash Flows
| 2024 | 2023 | |
|---|---|---|
| (In thousands) | ||
| Cash flows from operating activities: | ||
| Net income | $1,951 | $4,538 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Provision for credit losses | 664 | 933 |
| Depreciation and amortization | 424 | 385 |
| Net change of deferred loan origination costs | 641 | 413 |
| Net accretion of premiums and discounts on available-for-sale securities | (807) | (1,044) |
| Accretion of purchase accounting marks on loans | (424) | (235) |
| Amortization of core deposit intangible | 336 | 390 |
| Director compensation expense-common stock | 96 | 95 |
| Accretion of premium on FHLB advances | (9) | (23) |
| Stock-based compensation expense | 309 | 208 |
| ESOP compensation expense | 188 | 93 |
| Earnings on bank owned life insurance | (46) | (42) |
| Net change in assets and liabilities: | ||
| Deferred tax assets | (195) | 1,238 |
| Accrued interest receivable | (63) | (965) |
| Other assets | 1,412 | (677) |
| Accrued expenses and other liabilities | (3,084) | 2,287 |
| Net cash provided by operating activities | 1,393 | 7,594 |
| Cash flows from investing activities: | ||
| Net change in loans receivable held for investment | (89,285) | (115,331) |
| Principal payments and maturities on available-for-sale securities | 117,127 | 18,395 |
| Purchase of FHLB stock | (13,654) | (13,287) |
| Proceeds from redemption of FHLB stock | 14,173 | 8,667 |
| Proceeds from redemption of FRB stock | – | 1,720 |
| Purchase of office properties and equipment | (138) | (208) |
| Net cash provided by (used in) investing activities | 28,223 | (100,044) |
| Cash flows from financing activities: | ||
| Net change in deposits | 62,764 | (4,281) |
| Net change in securities sold under agreements to repurchase | (6,865) | 10,004 |
| Increase in unreleased ESOP shares | – | (3,400) |
| Repayments of Bank Term Funding Program | (100,000) | – |
| Proceeds from Bank Term Funding Program | – | 100,000 |
| Repayment of notes payable | (14,000) | – |
| Dividends paid on ECIP preferred stock | (1,567) | – |
| Share repurchase - FDIC | – | (1,781) |
| Proceeds from FHLB advances | 339,000 | 456,138 |
| Repayments of FHLB advances | (352,778) | (375,140) |
| Net cash (used in) provided by financing activities | (73,446) | 181,540 |
| Net change in cash and cash equivalents | (43,830) | 89,090 |
| Cash and cash equivalents at beginning of the period | 105,195 | 16,105 |
| Cash and cash equivalents at end of the period | $61,365 | $105,195 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid for interest | $30,628 | $16,921 |
| Cash paid for income taxes | 416 | 2,036 |
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