XML 14 R4.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Statements of Operations and Comprehensive income (loss) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest income:        
Interest and fees on loans receivable $ 9,098 $ 6,879 $ 17,633 $ 14,083
Interest on available-for-sale securities 2,183 834 4,363 1,425
Other interest income 359 788 687 872
Total interest income 11,640 8,501 22,683 16,380
Interest expense:        
Interest on deposits 1,549 349 2,852 699
Interest on borrowings 2,823 114 4,289 471
Total interest expense 4,372 463 7,141 1,170
Net interest income 7,268 8,038 15,542 15,210
Provision for (recapture of) credit losses 768 (577) 810 (429)
Net interest income after provision for credit losses 6,500 8,615 14,732 15,639
Non-interest income:        
Service charges 38 21 99 85
Other 222 240 450 457
Total non-interest income 260 261 549 542
Non-interest expense:        
Compensation and benefits 3,734 3,307 7,483 6,926
Occupancy expense 443 400 888 842
Information services 735 767 1,450 1,632
Professional services 607 958 1,112 1,322
Supervisory costs 201 100 295 257
Office services and supplies 26 54 48 115
Advertising and promotional expense 59 17 127 67
Corporate insurance 61 62 123 115
Appraisal and other loan expense 26 66 69 96
Amortization of core deposit intangible 97 108 195 217
Travel expense 37 62 115 93
Other expense 395 365 768 544
Total non-interest expense 6,421 6,266 12,673 12,226
Income before income taxes 339 2,610 2,608 3,955
Income tax expense 93 757 767 1,120
Net income 246 1,853 1,841 2,835
Less: Net income (loss) attributable to non-controlling interest 3 (1) 25 23
Net income attributable to Broadway Financial Corporation 243 1,854 1,816 2,812
Other comprehensive (loss) income, net of tax:        
Unrealized (losses) gains on securities available-for-sale arising during the period (3,356) (5,178) 77 (13,332)
Income tax (benefit) expense (965) (1,675) 23 (3,982)
Other comprehensive (loss) income, net of tax (2,391) (3,503) 54 (9,350)
Comprehensive (loss) income $ (2,148) $ (1,649) $ 1,870 $ (6,538)
Earnings per common share-basic (in dollars per share) $ 0 $ 0.03 $ 0.03 $ 0.04
Earnings per common share-diluted (in dollars per share) $ 0 $ 0.03 $ 0.03 $ 0.04