XML 15 R4.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest income:        
Interest and fees on loans receivable $ 9,406 $ 6,520 $ 27,039 $ 20,603
Interest on available-for-sale securities 2,180 2,069 6,543 3,416
Other interest income 341 639 1,028 1,589
Total interest income 11,927 9,228 34,610 25,608
Interest expense:        
Interest on deposits 2,126 474 4,978 1,173
Interest on borrowings 3,028 146 7,317 617
Total interest expense 5,154 620 12,295 1,790
Net interest income 6,773 8,608 22,315 23,818
(Recapture of) provision for credit losses (2) 1,021 808 592
Net interest income after (recapture of) provision for credit losses 6,775 7,587 21,507 23,226
Non-interest income:        
Service charges 42 21 141 106
Other 289 344 739 801
Total non-interest income 331 365 880 907
Non-interest expense:        
Compensation and benefits 4,380 3,440 11,863 10,366
Occupancy expense 466 367 1,354 1,209
Information services 698 732 2,148 2,364
Professional services 629 861 1,741 2,183
Supervisory costs 157 4 452 261
Office services and supplies 24 38 72 153
Advertising and promotional expense 11 14 138 81
Corporate insurance 61 49 184 164
Appraisal and other loan expense 69 53 138 150
Amortization of core deposit intangible 98 109 293 326
Travel expense 39 67 154 122
Other expense 349 338 1,117 919
Total non-interest expense 6,981 6,072 19,654 18,298
Income before income taxes 125 1,880 2,733 5,835
Income tax expense 39 534 806 1,654
Net income 86 1,346 1,927 4,181
Less: Net (loss) income attributable to non-controlling interest (5) 28 20 51
Net income attributable to Broadway Financial Corporation 91 1,318 1,907 4,130
Other comprehensive loss, net of tax:        
Unrealized losses on securities available-for-sale arising during the period (2,677) (11,949) (2,600) (25,281)
Income tax benefit (770) (3,382) (747) (7,364)
Other comprehensive loss, net of tax (1,907) (8,567) (1,853) (17,917)
Comprehensive (loss) income $ (1,816) $ (7,249) $ 54 $ (13,787)
Earnings per common share-basic (in dollars per share) [1] $ 0.01 $ 0.14 $ 0.21 $ 0.45
Earnings per common share-diluted (in dollars per share) [1] $ 0.01 $ 0.14 $ 0.21 $ 0.45
[1] Retroactively adjusted for the 1-for-8 reverse stock split effective November 1, 2023 - see Note 1