BROADWAY FINANCIAL CORP \DE\
For the period ended Sep 30, 2025. Filed Feb 13, 2026.
View on SEC.govAbout 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.
Sep 30, 2025 · Filed Feb 13, 2026
BYFC$11.60+0.7%Stored close · as of Nov 6, 2026
Contents
Item 1. Consolidated Statements of Financial Condition as of September 30, 2025 and December 31, 2024
ConsolidatedStatements ofFinancial Condition
(In thousands, except share and per share amounts)
| September 30, 2025 | December 31, 2024 | |
|---|---|---|
| (Unaudited) | ||
| Assets: | ||
| Cash and due from banks | $1,372 | $2,255 |
| Interest-bearing deposits in other banks | 18,359 | 59,110 |
| Cash and cash equivalents | 19,731 | 61,365 |
| Securities available-for-sale, at fair value (amortized cost of $253,792 and $219,658) | 244,005 | 203,862 |
| Loans receivable held for investment, net of allowance of $10,339 and $8,364 | 1,013,144 | 999,956 |
| Accrued interest receivable | 5,649 | 5,001 |
| Federal Home Loan Bank (“FHLB”) stock | 6,048 | 9,637 |
| Federal Reserve Bank (“FRB”) stock | 3,543 | 3,543 |
| Office properties and equipment, net | 8,726 | 8,899 |
| Bank owned life insurance | 23,404 | 3,321 |
| Deferred tax assets, net | 8,144 | 8,880 |
| Core deposit intangible, net | 1,539 | 1,775 |
| Goodwill | – | 25,858 |
| Other assets | 1,632 | 2,786 |
| Total assets | $1,335,565 | $1,334,883 |
| Liabilities and equity | ||
| Liabilities: | ||
| Deposits | $849,205 | $745,399 |
| FHLB borrowings | 107,500 | 195,532 |
| Securities sold under agreements to repurchase | 76,118 | 66,610 |
| Secured borrowings | 30,166 | 31,356 |
| Accrued expenses and other liabilities | 10,690 | 10,794 |
| Total liabilities | 1,073,679 | 1,049,691 |
| Non-Cumulative Redeemable Perpetual Preferred stock, Series C; authorized 150,000 shares at September 30, 2025 and December 31, 2024; issued and outstanding 150,000 shares at September 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 September 30, 2025 and December 31, 2024; issued 6,410,022 shares at September 30, 2025 and 6,349,455 shares at December 31, 2024; outstanding 6,082,794 shares at September 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 September 30, 2025 and December 31, 2024; issued and outstanding 1,425,404 shares at September 30, 2025; issued and outstanding 1,425,574 shares at December 31, 2024 | 14 | 14 |
| Common stock, Class C, $0.01 par value, non-voting; authorized 25,000,000 shares at September 30, 2025 and December 31, 2024; issued and outstanding 1,672,562 at September 30, 2025 and December 31, 2024 | 17 | 17 |
| Additional paid-in capital | 143,230 | 142,902 |
| (Accumulated deficit) retained earnings | (15,343) | 12,727 |
| Unearned Employee Stock Ownership Plan (“ESOP”) shares | (4,025) | (4,201) |
| Accumulated other comprehensive loss, net of tax | (6,944) | (11,223) |
| Treasury stock-at cost, 327,228 shares at September 30, 2025 and at December 31, 2024 | (5,326) | (5,326) |
| Total Broadway Financial Corporation and Subsidiary equity | 261,687 | 284,973 |
| Non-controlling interest | 199 | 219 |
| Total liabilities and equity | $1,335,565 | $1,334,883 |
Consolidated Statements of Operations and Comprehensive(Loss)Income
(In thousands, except per share amounts)
| Three Months Ended September 30, · Nine Months Ended September 30, | ||||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 (As Restated) | |
| Interest income: | ||||
| Interest and fees on loans receivable | $13,418 | $13,239 | $39,360 | $37,396 |
| Interest on available-for-sale securities | 1,690 | 1,635 | 4,069 | 5,586 |
| Other interest income | 683 | 1,735 | 1,560 | 4,757 |
| Total interest income | 15,791 | 16,609 | 44,989 | 47,739 |
| Interest expense: | ||||
| Interest on deposits | 5,363 | 3,209 | 14,441 | 9,094 |
| Interest on borrowings | 1,811 | 5,070 | 6,131 | 14,873 |
| Total interest expense | 7,174 | 8,279 | 20,572 | 23,967 |
| Net interest income | 8,617 | 8,330 | 24,417 | 23,772 |
| Provision for credit losses | 679 | 408 | 2,139 | 1,169 |
| Net interest income after provision for credit losses | 7,938 | 7,922 | 22,278 | 22,603 |
| Non-interest income: | ||||
| Service charges | 47 | 36 | 131 | 114 |
| Grants | 145 | – | 275 | – |
| Other | 230 | 380 | 659 | 881 |
| Total non-interest income | 422 | 416 | 1,065 | 995 |
| Non-interest expense: | ||||
| Compensation and benefits | 4,340 | 4,432 | 14,036 | 13,170 |
| Occupancy expense | 505 | 505 | 1,530 | 1,440 |
| Information services | 768 | 754 | 2,248 | 2,124 |
| Professional services | 624 | 982 | 2,112 | 2,955 |
| Advertising and promotional expense | 76 | 19 | 183 | 110 |
| Supervisory costs | 161 | 196 | 510 | 589 |
| Corporate insurance | 86 | 27 | 219 | 152 |
| Amortization of core deposit intangible | 78 | 84 | 236 | 252 |
| Operational loss (recovery) | (1,603) | – | 340 | – |
| Goodwill impairment | 25,858 | – | 25,858 | – |
| Other | 625 | 595 | 1,965 | 1,892 |
| Total non-interest expense | 31,518 | 7,594 | 49,237 | 22,684 |
| (Loss) income before income taxes | (23,158) | 744 | (25,894) | 914 |
| Income tax expense (benefit) | 736 | 206 | (54) | 291 |
| Net (loss) income | $(23,894) | $538 | $(25,840) | $623 |
| Less: Net (loss) income attributable to non-controlling interest | (11) | 22 | (20) | 5 |
| Net (loss) income attributable to Broadway Financial Corporation | $(23,883) | $516 | $(25,820) | $618 |
| Less: Preferred stock dividends | 750 | 750 | 2,250 | 817 |
| Net loss attributable to common stockholders | $(24,633) | $(234) | $(28,070) | $(199) |
| Other comprehensive income, net of tax: | ||||
| Unrealized gains on securities available-for-sale arising during the period | $2,266 | $5,900 | $6,009 | $5,971 |
| Income tax expense | 653 | 1,703 | 1,730 | 1,724 |
| Other comprehensive income, net of tax | 1,613 | 4,197 | 4,279 | 4,247 |
| Comprehensive (loss) income | $(23,020) | $3,963 | $(23,791) | $4,048 |
| Loss per common share-basic | $(2.86) | $(0.03) | $(3.27) | $(0.02) |
| Loss per common share-diluted | $(2.86) | $(0.03) | $(3.27) | $(0.02) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.