Earnings Per Share of Common Stock

6 Months Ended

Jun. 30, 2021

Earnings Per Share of Common Stock [Abstract]

Earnings Per Share of Common Stock

  NOTE (4) – Earnings Per Share of Common Stock

Basic earnings per share of common stock is computed pursuant to the two-class method by dividing net income available to common stockholders less dividends paid on participating securities (unvested shares of restricted common stock) and any undistributed earnings attributable to participating securities by the weighted average common shares outstanding during the period.  The weighted average common shares outstanding includes the weighted average number of shares of common stock outstanding less the weighted average number of unvested shares of restricted common stock.  ESOP shares are considered outstanding for this calculation unless unearned.  Diluted earnings per share of common stock includes the dilutive effect of unvested stock awards and additional potential common shares issuable under stock options.

 The following table shows how the Company computed basic and diluted earnings (loss) per share of common stock for the periods indicated: 

	For the three months ended June 30,				For the six months ended June 30,
	2021		2020		2021			2020
	(Dollars in thousands, except per share )
Net income (loss) attributable to Broadway Financial Corporation	$	701	$	216	$	(2,786	)	$	183
Less net income (loss) attributable to participating securities		-		2		-			2
Income (loss) available to common stockholders	$	701	$	214	$	(2,786	)	$	181
Weighted average common shares outstanding for basic earnings (loss) per common share		70,163,639		27,143,340		48,873,496			27,055,750
Add: dilutive effects of unvested restricted stock awards		140,247		307,376		-			337,097
Weighted average common shares outstanding for diluted earnings (loss) per common share		70,303,886		27,450,716		48,873,496			27,392,847
Earnings (loss) per common share - basic	$	0.01	$	0.01	$	(0.06	)	$	0.01
Earnings (loss) per common share - diluted	$	0.01	$	0.01	$	(0.06	)	$	0.01

Stock options for 450,000 shares of common stock for the six months ended June 30, 2021 were not considered in computing diluted earnings per common share because they were anti-dilutive due to the net loss. There were no unvested restricted stock awards outstanding during the three months ended June 30, 2021.