BROADWAY FINANCIAL CORP \DE\

For the period ended Jun 30, 2025. Filed Dec 31, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2025 · Filed Dec 31, 2025

BYFC$11.60+0.7%Stored close · as of Nov 6, 2026

See the whole filing, with its images and exhibits

Contents

Item 1. Consolidated Statements of Financial Condition as of June 30, 2025 and December 31, 2024

ConsolidatedStatements ofFinancial Condition

(In thousands, except share and per share amounts)

	June 30, 2025	December 31, 2024
(Unaudited)
Assets:
Cash and due from banks	$1,955	$2,255
Interest-bearing deposits in other banks	27,559	59,110
Cash and cash equivalents	29,514	61,365
Securities available-for-sale, at fair value (amortized cost of $190,030 and $219,658)	177,977	203,862
Loans receivable held for investment, net of allowance of $9,880 and $8,364	977,064	999,956
Accrued interest receivable	5,109	5,001
Federal Home Loan Bank (“FHLB”) stock	3,761	9,637
Federal Reserve Bank (“FRB”) stock	3,543	3,543
Office properties and equipment, net	8,721	8,899
Bank owned life insurance	3,343	3,321
Deferred tax assets, net	8,641	8,880
Core deposit intangible, net	1,617	1,775
Goodwill	25,858	25,858
Other assets	2,369	2,786
Total assets	$1,247,517	$1,334,883
Liabilities and equity
Liabilities:
Deposits	$798,922	$745,399
Securities sold under agreements to repurchase	63,786	66,610
FHLB borrowings	60,000	195,532
Secured borrowings	30,287	31,356
Accrued expenses and other liabilities	9,633	10,794
Total liabilities	962,628	1,049,691
Non-Cumulative Redeemable Perpetual Preferred stock, Series C; authorized 150,000 shares at June 30, 2025 and December 31, 2024; issued and outstanding 150,000 shares at June 30, 2025 and December 31, 2024; liquidation value $1,000 per share	150,000	150,000
Common stock, Class A, $0.01 par value, voting; authorized 75,000,000 shares at June 30, 2025 and December 31, 2024; issued 6,425,001 shares at June 30, 2025 and 6,349,455 shares at December 31, 2024; outstanding 6,097,773 shares at June 30, 2025 and 6,022,227 shares at December 31, 2024	64	63
Common stock, Class B, $0.01 par value, non-voting; authorized 15,000,000 shares at June 30, 2025 and December 31, 2024; issued and outstanding 1,425,574 shares at June 30, 2025 and December 31, 2024	14	14
Common stock, Class C, $0.01 par value, non-voting; authorized 25,000,000 shares at June 30, 2025 and December 31, 2024; issued and outstanding 1,672,562 at June 30, 2025 and December 31, 2024	17	17
Additional paid-in capital	143,266	142,902
Retained earnings	9,290	12,727
Unearned Employee Stock Ownership Plan (“ESOP”) shares	(4,089)	(4,201)
Accumulated other comprehensive loss, net of tax	(8,557)	(11,223)
Treasury stock-at cost, 327,228 shares at June 30, 2025 and at December 31, 2024	(5,326)	(5,326)
Total Broadway Financial Corporation and Subsidiary equity	284,679	284,973
Non-controlling interest	210	219
Total liabilities and equity	$1,247,517	$1,334,883

ConsolidatedStatements of Operations and Comprehensive Income (Loss)

(In thousands, except per share amounts)

Three Months Ended June 30, · Six Months Ended June 30,
2025 · 2024 · 2025 · 2024 (As Restated)
Interest income:
Interest and fees on loans receivable	$12,825	$12,613	$25,942		$24,157
Interest on available-for-sale securities	1,171	1,876	2,379		3,951
Other interest income	401	1,433	877		3,022
Total interest income	14,397	15,922	29,198		31,130
Interest expense:
Interest on deposits	4,879	3,086	9,078		5,885
Interest on borrowings	1,763	4,918	4,320		9,803
Total interest expense	6,642	8,004	13,398		15,688
Net interest income	7,755	7,918	15,800		15,442
(Recapture of) provision for credit losses	(454)	514	1,460		761
Net interest income after (recapture of) provision for credit losses	8,209	7,404	14,340		14,681
Non-interest income:
Service charges	41	38	84		78
Grants	105	–	130		–
Other	209	235	429		501
Total non-interest income	355	273	643		579
Non-interest expense:
Compensation and benefits	4,412	4,469	9,696		8,866
Occupancy expense	485	432	1,025		867
Information services	774	663	1,480		1,370
Professional services	788	563	1,488		1,973
Advertising and promotional expense	61	63	107		91
Supervisory costs	156	216	349		393
Corporate insurance	66	64	133		125
Amortization of core deposit intangible	79	84	158		168
Operational loss	–	–	1,943		–
Other	701	726	1,340		1,237
Total non-interest expense	7,522	7,280	17,719		15,090
Income (loss) before income taxes	1,042	397	(2,736)		170
Income tax expense (benefit)	296	139	(790)		85
Net income (loss)	$746	$258	$(1,946)		$85
Less: Net (loss) income attributable to non-controlling interest	(6)	2	(9)		(17)
Net income (loss) attributable to Broadway Financial Corporation	$752	$256	$(1,937)		$102
Less: Preferred stock dividends	750	67	1,500		67
Net income (loss) attributable to common stockholders	$2	$189	$(3,437)		$35
Other comprehensive income, net of tax:
Unrealized gains on securities available-for-sale arising during the period	$1,327	$874	$3,743		$71
Income tax impact	376	253	1,077		21
Other comprehensive income, net of tax	951	621	2,666		50
Comprehensive income (loss)	$953	$810	$(771)		$85
Earnings (loss) per common share-basic	$–	$0.02	$(0.39)	$	-
Earnings (loss) per common share-diluted	$–	$0.02	$(0.39)	$	-

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.