Broadway Financial receives Nasdaq notice of non-compliance
Compliance Issue with Nasdaq: Broadway Financial received a notice from Nasdaq stating it is not in compliance with Listing Rule 5250(c)(1) due to the late filing of its Quarterly Report for Q1 2025.
Plan Submission Deadline: The company has 60 days to submit a compliance plan, and if accepted, may have until November 17, 2025, to file the necessary report.
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- Compliance Issues: Broadway Financial Corporation received a compliance notice from Nasdaq for failing to file its quarterly report for the period ending September 30, 2025, which may impact its listing status on the Nasdaq Capital Market.
- Reason for Delay: The delay in filing was due to the evaluation of its sold loan participation accounting, necessitating additional time to complete the review of financial statements to ensure adequate disclosure.
- Time Constraints: Nasdaq has granted the company an extension until February 16, 2026, to file the quarterly report, with any further compliance exceptions limited to this deadline.
- Follow-Up Plan: The company expects to submit an updated compliance plan by December 8, 2025, to seek Nasdaq's acceptance and regain compliance status while aiming to file the quarterly report promptly.

Compliance Issue with Nasdaq: Broadway Financial Corporation received a notice from Nasdaq indicating non-compliance with Listing Rule 5250(c)(1) due to the late filing of its Q3 Form 10-Q for the quarter ended September 30, 2025.
Impact on Trading: While the notice does not immediately affect the trading of the company's shares, further delays in filing could impact the listing status of Broadway's common stock.
Extension Deadline: The company has until February 16, 2026, to file its Q3 Form 10-Q, following a previous extension granted by Nasdaq, and must submit an updated compliance plan by December 8, 2025.
Company Background: Broadway Financial Corporation operates through City First Bank, focusing on serving low-to-moderate income communities in Southern California and Washington, D.C., offering various loan and deposit products.

Appointment Announcement: Broadway Financial Corporation has appointed Justin Jennings as Executive Vice President and Chief Deposit Officer of City First Bank, where he will oversee treasury management, banking operations, and digital banking.
Experience and Vision: Jennings brings extensive experience from Columbia Bank and JPMorgan Chase, focusing on community development and client services, and aims to enhance deposit growth and client experience at City First Bank.

Compliance Issue with Nasdaq: Broadway Financial Corporation received a notice from Nasdaq indicating non-compliance with Listing Rule 5250(c)(1) due to the late filing of its Quarterly Report on Form 10-Q for the quarter ending June 30, 2025.
Impact on Trading: Although the notice does not immediately affect the trading of the company's shares, further delays in filing could impact its listing status.
Reason for Delay: The company cited the need for additional time to evaluate participation agreements and their compliance with accounting standards as the reason for the delay in filing the Form 10-Q.
Plan Submission Deadline: Nasdaq has given Broadway 60 days to submit a compliance plan, with the possibility of extending the deadline for filing the Form 10-Q up to 180 days if the plan is accepted.

Financial Performance Overview: Broadway Financial Corporation reported a consolidated net income of $603 thousand for Q2 2025, an increase from $269 thousand in Q2 2024, but experienced a net loss attributable to common stockholders of $147 thousand after preferred dividends. The company also saw a significant reduction in borrowings and an increase in total deposits by 7.2% year-to-date.
Operational Highlights: The net interest margin improved to 2.63%, driven by growth in loan yields and reduced costs of interest-bearing liabilities. Additionally, non-interest expenses decreased due to operational efficiencies, although there was a notable impact from a previous fraudulent wire loss.






