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Stock impact report

Broadway Financial Corporation Announces Results for 1st Quarter 2019

Broadway Financial Corporation - Class A (BYFC) 
US:NASDAQ Investor Relations: broadwayfederalbank.com/investor-relations
Company Research Source: Business Wire
LOS ANGELES--(BUSINESS WIRE)-- Broadway Financial Corporation (the “Company”) (NASDAQ Capital Market: BYFC), parent company of Broadway Federal Bank, f.s.b. (the “Bank”), today reported net income of $277 thousand, or $0.01 per diluted share, for the first quarter of 2019, compared to a net loss of $84 thousand, or ($0.00) per diluted share, for the first quarter of 2018. The higher earnings during the first quarter of 2019 compared to the first quarter of 2018 primarily resulted from an increase of $245 thousand in non-interest income as the Bank received a grant of $233 thousand from U.S. Department of the Treasury’s Community Development Financial Institution (“CDFI”) Fund. In addition, during the first quarter of 2019, the Company’s reported income was enhanced by a loan loss provision recapture of $190 thousand and interest recoveries of $351 thousand due to the payoff of two non-accrual loans. There wer Show less Read more
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