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Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest income:        
Interest and fees on loans receivable $ 6,520 $ 6,296 $ 20,603 $ 16,240
Interest on available-for-sale securities 2,069 457 3,416 953
Other interest income 639 156 1,589 377
Total interest income 9,228 6,909 25,608 17,570
Interest expense:        
Interest on deposits 474 446 1,173 1,306
Interest on borrowings 146 472 617 1,607
Total interest expense 620 918 1,790 2,913
Net interest income 8,608 5,991 23,818 14,657
Loan loss provision 1,021 365 592 446
Net interest income after loan loss provision 7,587 5,626 23,226 14,211
Non-Interest Income:        
Service charges 21 76 106 205
CDFI Grant 0 217 0 2,043
Other 344 316 801 676
Total non-interest income 365 609 907 2,924
Non-Interest Expense:        
Compensation and benefits 3,440 3,334 10,366 11,543
Occupancy expense 367 392 1,209 1,327
Information services 732 787 2,364 1,594
Professional services 861 616 2,183 3,068
Supervisory costs 4 139 261 386
Office services and supplies 38 65 153 219
Corporate insurance 49 47 164 301
Amortization of core deposit intangible 109 131 326 262
Other 472 467 1,272 1,279
Total non-interest expense 6,072 5,978 18,298 19,979
Income (loss) before income taxes 1,880 257 5,835 (2,844)
Income tax expense (benefit) 534 51 1,654 (297)
Net income (loss) 1,346 206 4,181 (2,547)
Less: Net income attributable to non-controlling interest 28 24 51 57
Net income (loss) attributable to Broadway Financial Corporation 1,318 182 4,130 (2,604)
Other comprehensive income, net of tax:        
Unrealized gains (losses) on securities available-for-sale arising during the period (11,949) (640) (25,281) 224
Income tax (benefit) expense (3,382) (180) (7,364) 63
Other comprehensive income (loss), net of tax (8,567) (460) (17,917) 161
Comprehensive income (loss) $ (7,249) $ (278) $ (13,787) $ (2,443)
Earnings (loss) per common share-basic (in dollars per share) $ 0.02 $ 0 $ 0.06 $ (0.05)
Earnings (loss) per common share-diluted (in dollars per share) $ 0.02 $ 0 $ 0.06 $ (0.05)