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Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest income:        
Interest and fees on loans receivable $ 6,300 $ 4,429 $ 9,944 $ 8,788
Interest on available for sale securities 440 65 496 135
Other interest income 144 74 221 216
Total interest income 6,884 4,568 10,661 9,139
Interest expense:        
Interest on deposits 477 967 860 2,022
Interest on borrowings 586 570 1,135 1,188
Total interest expense 1,063 1,537 1,995 3,210
Net interest income 5,821 3,031 8,666 5,929
Loan loss provision 81 0 81 29
Net interest income after loan loss provision 5,740 3,031 8,585 5,900
Non-interest income:        
Service charges 36 94 129 238
Gain on sale of loans 0 116 0 123
CDFI Grant 1,826 0 1,826 0
Other 330 32 360 78
Total non-interest income 2,192 242 2,315 439
Non-interest expense:        
Compensation and benefits 2,819 1,983 8,209 4,038
Occupancy expense 627 320 935 635
Information services 566 221 807 458
Professional services 513 571 2,452 835
Supervisory costs 177 95 247 112
Office services and supplies 59 87 154 163
Corporate insurance 8 32 254 64
Amortization of core deposit intangible 131 0 131 0
Other 474 93 812 246
Total non-interest expense 5,374 3,402 14,001 6,551
Income (loss) before income taxes 2,558 (129) (3,101) (212)
Income tax expense (benefit) 1,824 (345) (348) (395)
Net income (loss) 734 216 (2,753) 183
Less: Net income attributable to non-controlling interest (33) 0 (33) 0
Net Income (loss) Attributable to Broadway Financial Corporation 701 216 (2,786) 183
Other comprehensive income, net of tax:        
Unrealized gains on securities available-for-sale arising during the period 1,022 155 864 330
Income tax expense 290 46 243 98
Other comprehensive income, net of tax 732 109 621 232
Comprehensive income (loss) $ 1,433 $ 325 $ (2,165) $ 415
Earnings (loss) per common share-basic (in dollars per share) $ 0.01 $ 0.01 $ (0.06) $ 0.01
Earnings (loss) per common share-diluted (in dollars per share) $ 0.01 $ 0.01 $ (0.06) $ 0.01