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Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest income:        
Interest and fees on loans receivable $ 6,296 $ 4,438 $ 16,240 $ 13,226
Interest on available for sale securities 457 59 953 194
Other interest income 156 77 377 293
Total interest income 6,909 4,574 17,570 13,713
Interest expense:        
Interest on deposits 446 631 1,306 2,653
Interest on borrowings 472 566 1,607 1,754
Total interest expense 918 1,197 2,913 4,407
Net interest income 5,991 3,377 14,657 9,306
Loan loss provision 365 0 446 29
Net interest income after loan loss provision 5,626 3,377 14,211 9,277
Non-interest income:        
Service charges 76 93 205 331
Gain on sale of loans 0 76 0 199
CDFI Grant 217 0 2,043 0
Other 316 37 676 115
Total non-interest income 609 206 2,924 645
Non-interest expense:        
Compensation and benefits 3,334 1,909 11,543 5,947
Occupancy expense 392 332 1,327 967
Information services 787 242 1,594 700
Professional services 616 840 3,068 1,675
Supervisory costs 139 0 386 0
Office services and supplies 65 97 219 260
Corporate insurance 47 30 301 94
Amortization of core deposit intangible 131 0 262 0
Other 467 282 1,279 640
Total non-interest expense 5,978 3,732 19,979 10,283
Income (loss) before income taxes 257 (149) (2,844) (361)
Income tax expense (benefit) 51 95 (297) (300)
Net income (loss) 206 (244) (2,547) (61)
Less: Net income attributable to non-controlling interest 24 0 57 0
Net Income (loss) Attributable to Broadway Financial Corporation 182 (244) (2,604) (61)
Other comprehensive (loss) income, net of tax:        
Unrealized (loss) gain on securities available-for-sale arising during the period (640) (40) 224 290
Income tax (benefit) expense (180) (12) 63 86
Other comprehensive (loss) income, net of tax (460) (28) 161 204
Comprehensive (loss) income $ (278) $ (272) $ (2,443) $ 143
Earnings (loss) per common share-basic (in dollars per share) $ 0.00 $ (0.01) $ (0.05) $ 0.00
Earnings (loss) per common share-diluted (in dollars per share) $ 0.00 $ (0.01) $ (0.05) $ 0.00