Parent Company Only Condensed Financial Information (Tables)

12 Months Ended

Dec. 31, 2013

Parent Company Only Condensed Financial Information

Schedule of condensed financial information of Broadway Financial Corporation

Condensed Balance Sheet
December 31,

	2013		2012
	(In thousands)
Assets
Cash and cash equivalents	$	1,231	$	120
Investment in bank subsidiary		34,127		33,268
Other assets		2		340
Total assets	$	35,360	$	33,728
Liabilities and stockholders' equity
Junior subordinated debentures	$	6,000	$	6,000
Senior debt		2,923		5,000
Accrued interest payable		656		1,854
Dividends payable		-		2,104
Due to bank subsidiary		-		521
Other liabilities		191		242
Stockholders' equity		25,590		18,007
Total liabilities and stockholders' equity	$	35,360	$	33,728

Condensed Statements of Operations
Years ended December 31,

	2013			2012
	(In thousands)
Interest income	$	-		$	-
Interest expense		(557	)		(743	)
Gain on restructuring of debt		1,221			-
Other expense		(815	)		(542	)
Loss before income tax and undistributed subsidiary income (loss)		(151	)		(1,285	)
Income taxes benefit (expense)		(2	)		-
Equity in undistributed subsidiary income (loss)		(148	)		1,873
Net income (loss)	$	(301	)	$	588

Condensed Statements of Cash Flows
Years ended December 31,

	2013			2012
	(In thousands)
Cash flows from operating activities
Net income (loss)	$	(301	)	$	588
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Equity in undistributed subsidiary (income) loss		148			(1,873	)
Gain on restructuring of debt		(1,221	)		-
Change in other assets		338			(113	)
Change in accrued interest payable		557			-
Change in other liabilities		(50	)		830
Net cash used in operating activities		(529	)		(568	)
Cash flows from investing activities
Investment in bank subsidiary		(1,200	)		-
Net cash used in investing activities		(1,200	)		-
Cash flows from financing activities
Reduction in amount due to bank subsidiary		(521	)		(153	)
Net proceeds from issuance of common stock and recapitalization		3,398			-
Repayments on senior debt		(37	)		-
Proceeds from reissuance of treasury stock		-			200
Net cash provided by financing activities		2,840			47
Net change in cash and cash equivalents		1,111			(521	)
Beginning cash and cash equivalents		120			641
Ending cash and cash equivalents	$	1,231		$	120