BYFC

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.

Financial Performance Overview: Broadway Financial Corporation reported a consolidated net loss of $1.9 million for Q1 2025, a significant increase from a net loss of $164 thousand in Q1 2024. The company experienced a rise in net interest income by 6.9% to $8.0 million, but faced increased non-interest expenses primarily due to a $1.9 million loss from wire fraud.

Operational Highlights: Total deposits grew by 4.2% to $776.5 million, while total borrowings decreased by 14% to $168.2 million. The company's capital ratios remained strong, with a Community Bank Leverage Ratio of 15.24%, and credit quality indicators showed stability despite the addition of non-accrual loans.

Compliance Issue with Nasdaq: Broadway Financial Corporation received a notice from Nasdaq indicating non-compliance with listing rules due to the late filing of its Quarterly Report on Form 10-Q for Q1 2025, prompting the company to submit a compliance plan within 60 days.

Reason for Delay: The delay in filing is attributed to the need for additional time to assess the value of a Securities Purchase Option Agreement and complete review procedures by the company's independent accounting firm.