BROADWAY FINANCIAL CORP \DE\
For the period ended Dec 31, 2024. Filed Mar 31, 2025.
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FY2024 · Filed Mar 31, 2025
BYFC$11.71+1.6%Stored close · as of Nov 12, 2026
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Consolidated Statements of Financial Condition
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| December 31, 2024 | December 31, 2023 | |
|---|---|---|
| (In thousands, except share and per share) | ||
| Assets: | ||
| Cash and due from banks | $2,255 | $5,460 |
| Interest-bearing deposits in other banks | 59,110 | 99,735 |
| Cash and cash equivalents | 61,365 | 105,195 |
| Securities available-for-sale, at fair value (amortized cost of $219,658 and $335,978) | 203,862 | 316,950 |
| Loans receivable held for investment, net of allowance of $8,103 and $7,348 | 968,861 | 880,457 |
| Accrued interest receivable | 5,001 | 4,938 |
| Federal Home Loan Bank (FHLB) stock | 9,637 | 10,156 |
| Federal Reserve Bank (FRB) stock | 3,543 | 3,543 |
| Office properties and equipment, net | 8,899 | 9,185 |
| Bank owned life insurance | 3,321 | 3,275 |
| Deferred tax assets, net | 8,803 | 9,538 |
| Core deposit intangible, net | 1,775 | 2,111 |
| Goodwill | 25,858 | 25,858 |
| Other assets | 2,786 | 4,198 |
| Total assets | $1,303,711 | $1,375,404 |
| Liabilities and stockholders’ equity | ||
| Liabilities: | ||
| Deposits | $745,399 | $682,635 |
| Securities sold under agreements to repurchase | 66,610 | 73,475 |
| FHLB advances | 195,532 | 209,319 |
| Bank Term Funding Program borrowing | – | 100,000 |
| Notes payable | – | 14,000 |
| Accrued expenses and other liabilities | 10,794 | 13,878 |
| Total liabilities | 1,018,335 | 1,093,307 |
| Stockholders’ equity: | ||
| Non-Cumulative Redeemable Perpetual Preferred stock, Series C; authorized 150,000 shares at December 31, 2024 and December 31, 2023; issued and outstanding 150,000 shares at December 31, 2024 and December 31, 2023; 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 December 31, 2024 and December 31, 2023; issued 6,349,455 shares at December 31, 2024 and 6,242,089 shares at December 31, 2023; outstanding 6,022,227 shares at December 31, 2024 and 5,914,861 shares at December 31, 2023 | 63 | 62 |
| Common stock, Class B, $0.01 par value, non-voting; authorized 15,000,000 shares at December 31, 2024 and December 31, 2023; issued and outstanding 1,425,574 shares at December 31, 2024 and December 31, 2023 | 14 | 14 |
| Common stock, Class C, $0.01 par value, non-voting; authorized 25,000,000 shares at December 31, 2024 and December 31, 2023; issued and outstanding 1,672,562 at December 31, 2024 and December 31, 2023 | 17 | 17 |
| Additional paid-in capital | 142,902 | 142,601 |
| Retained earnings | 12,911 | 12,552 |
| Unearned Employee Stock Ownership Plan (ESOP) shares | (4,201) | (4,492) |
| Accumulated other comprehensive loss, net of tax | (11,223) | (13,525) |
| Treasury stock-at cost, 327,228 shares at December 31, 2024 and at December 31, 2023 | (5,326) | (5,326) |
| Total Broadway Financial Corporation and Subsidiary stockholders’ equity | 285,157 | 281,903 |
| Non-controlling interest | 219 | 194 |
| Total liabilities and stockholders’ equity | $1,303,711 | $1,375,404 |
Consolidated
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