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Earnings Per Share of Common Stock
 6 Months Ended
Jun. 30, 2023
Earnings Per Share of Common Stock [Abstract]  
Earnings Per Share of Common Stock
NOTE 2 – 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. Employee Stock Ownership Plan (“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 per share of common stock for the periods indicated: 
   
Three Months Ended
June 30,
    
Six Months Ended
June 30,
  
   
2023
    
2022
     2023     2022  
   
(In thousands, except share and per share data)
  
Net income attributable to Broadway Financial Corporation
  
$
243
    
$
1,854
     $ 1,816     $ 2,812  
Less net income attributable to participating securities
    
4
      
12
       27       18  
Income available to common stockholders
  
$
239
    
$
1,842
     $ 1,789     $ 2,794  
                                 
Weighted average common shares outstanding for basic earnings per common share
    
69,470,113
      
72,527,974
       70,177,588       72,292,735  
Add: dilutive effects of unvested restricted stock awards
    
1,025,840
      
461,047
       1,041,188
       467,890
  
Add: dilutive effects of assumed exercise of stock options
    –       –       –       7,982  
Weighted average common shares outstanding for diluted earnings per common share
    
70,495,953
      
72,989,021
       71,218,776       72,768,607  
                                 
Earnings per common share - basic
  
$
–
    
$
0.03
     $ 0.03     $ 0.04  
Earnings per common share - diluted
  
$
–
    
$
0.03
     $ 0.03     $ 0.04