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Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest income:    
Interest and fees on loans receivable $ 11,129 $ 8,666
Interest on available-for-sale securities 2,075 2,180
Other interest income 1,589 328
Total interest income 14,793 11,174
Interest expense:    
Interest on deposits 2,799 1,303
Interest on borrowings 4,470 1,597
Total interest expense 7,269 2,900
Net interest income 7,524 8,274
Provision for credit losses 260 88
Net interest income after provision for credit losses 7,264 8,186
Non-interest income:    
Service charges 40 61
Other 266 228
Total non-interest income 306 289
Non-interest expense:    
Compensation and benefits 4,397 3,749
Occupancy expense 435 303
Information services 707 715
Professional services 1,410 505
Supervisory costs 177 94
Office services and supplies 34 22
Advertising and promotional expense 28 68
Corporate insurance 61 62
Appraisal and other loan expense 0 43
Amortization of core deposit intangible 84 98
Travel expense 79 78
Other expense 398 469
Total non-interest expense 7,810 6,206
(Loss) income before income taxes (240) 2,269
Income tax (benefit) expense (57) 674
Net (loss) income (183) 1,595
Less: Net (loss) income attributable to non-controlling interest (19) 22
Net (loss) income attributable to Broadway Financial Corporation (164) 1,573
Other comprehensive (loss) income, net of tax:    
Unrealized (losses) income on securities available-for-sale arising during the period (803) 3,433
Income tax (benefit) expense (232) 988
Other comprehensive (loss) income, net of tax (571) 2,445
Comprehensive (loss) income $ (735) $ 4,018
(Loss) earnings per common share-basic (in dollars per share) [1] $ (0.02) $ 0.18
(Loss) earnings per common share-diluted (in dollars per share) [1] $ (0.02) $ 0.17
[1] Retroactively adjusted, as applicable, for the 1-for-8 reverse stock split effective November 1, 2023 - see Note 1