Parent Company Only Condensed Financial Information (Tables)

12 Months Ended

Dec. 31, 2019

Parent Company Only Condensed Financial Information

Schedule of condensed financial information of Broadway Financial Corporation

Condensed Balance Sheet

December 31,

	2019		2018
	(In thousands)
Assets
Cash and cash equivalents	$	134	$	156
Investment in bank subsidiary		50,594		51,221
Other assets		2,512		2,225
Total assets	$	53,240	$	53,602
Liabilities and stockholders’ equity
Junior subordinated debentures	$	4,335	$	5,100
Accrued expenses and other liabilities		57		66
Stockholders’ equity		48,848		48,436
Total liabilities and stockholders’ equity	$	53,240	$	53,602

Condensed Statements of Income

Years ended December 31,

	2019		2018
	(In thousands)
Interest income	$	23	$	25
Interest expense		(247)		(243)
Other expense		(720)		(469)
Loss before income tax and undistributed subsidiary income		(944)		(687)
Income tax benefit (expense)		279		205
Equity in undistributed subsidiary income		459		1,297
Net income	$	(206)	$	815

Condensed Statements of Cash Flows

Years ended December 31,

	2019		2018
	(In thousands)
Cash flows from operating activities
Net (loss) income	$	(206)	$	815
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Equity in undistributed subsidiary income		(459)		(1,297)
Change in other assets		(287)		(210)
Change in accrued expenses and other liabilities		(9)		(112)
Net cash used in operating activities		(961)		(804)
Cash flows from investing activities
Dividends from bank subsidiary		1,650		600
Net cash provided by investing activities		1,650		600
Cash flows from financing activities
Common stock repurchased for tax withholdings		(14)		(108)
Repayments of borrowings		(765)		—
Proceeds from repayment of ESOP loan		68		68
Net cash used in financing activities		(711)		(40)
Net change in cash and cash equivalents		(22)		(244)
Beginning cash and cash equivalents		156		400
Ending cash and cash equivalents	$	134	$	156