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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Interest income:                    
Interest and fees on loans receivable                 $ 50,544 $ 38,773
Interest on available-for-sale securities                 7,034 8,697
Other interest income                 6,368 1,388
Total interest income $ 16,207 $ 16,609 $ 15,922 $ 15,208 $ 12,901 $ 12,342 $ 12,048 $ 11,567 63,946 48,858
Interest expense:                    
Interest on deposits                 13,183 7,512
Interest on borrowings                 18,994 11,884
Total interest expense 8,210 8,279 8,004 7,684 5,754 5,569 4,780 3,293 32,177 19,396
Net interest income 7,997 8,330 7,918 7,524 7,147 6,773 7,268 8,274 31,769 29,462
Provision for credit losses (509) 408 514 247 83 (7) 780 342 660 1,198
Net interest income after provision for credit losses 8,506 7,922 7,404 7,277 7,064 6,780 6,488 7,932 31,109 28,264
Non-interest income:                    
Service charges                 155 179
Grants                 280 4,156
Other                 1,119 1,022
Total non-interest income 559 416 273 306 4,477 331 260 289 1,554 5,357
Non-interest expense:                    
Compensation and benefits                 17,562 15,653
Occupancy expense                 1,858 1,870
Information services                 2,763 2,777
Professional services                 3,449 3,126
Supervisory costs                 785 613
Corporate insurance                 234 245
Amortization of core deposit intangible                 336 390
Other                 2,907 2,689
Total non-interest expense 7,210 7,594 7,280 7,810 7,755 6,981 6,421 6,206 29,894 27,363
Income before income taxes 1,855 744 397 (227) 3,786 130 327 2,015 2,769 6,258
Income tax expense 524 206 139 (54) 1,178 41 90 598 815 1,907
Net income 1,331 538 258 (173) 2,608 89 237 1,417 1,954 4,351
Less: Net income attributable to non-controlling interest 20 22 2 (19) 4 (5) 3 22 25 24
Net income attributable to Broadway Financial Corporation 1,311 516 256 (154) 2,604 94 234 1,395 1,929 4,327
Less: Preferred stock dividends 750 750 67 0 0 0 0 0 1,567 0
Net income attributable to common stockholders 561 (234) 189 (154) 2,604 94 234 1,395 362 4,327
Other comprehensive income, net of tax:                    
Unrealized gains on securities available-for-sale arising during the period (2,739) 5,900 874 (803) 8,152 (2,677) (3,356) 3,433 3,232 5,552
Income tax expense (794) 1,703 253 (232) 2,351 (770) (965) 988 930 1,604
Other comprehensive income, net of tax (1,945) 4,197 621 (571) 5,801 (1,907) (2,391) 2,445 2,302 3,948
Comprehensive income $ (1,384) $ 3,963 $ 810 $ (725) $ 8,405 $ (1,813) $ (2,157) $ 3,840 $ 2,664 $ 8,275
Earnings per common share-basic (in dollars per share) $ 0.06 $ (0.03) $ 0.02 $ (0.02) $ 0.29 $ 0.01 $ 0.03 $ 0.16 $ 0.04 $ 0.49
Earnings per common share-diluted (in dollars per share) $ 0.06 $ (0.03) $ 0.02 $ (0.02) $ 0.29 $ 0.01 $ 0.03 $ 0.16 $ 0.04 $ 0.49