Welcome to our dedicated page for Broadway Finl Del news (Ticker: BYFC), a resource for investors and traders seeking the latest updates and insights on Broadway Finl Del stock.
Broadway Financial Corporation reports recurring developments as the NASDAQ-listed parent company of City First Bank, National Association, a mission-driven bank serving low-to-moderate income communities.
Company news centers on quarterly operating results, net interest and credit-loss trends, capital ratios, preferred dividends, and book value. Updates also cover deposit and treasury management leadership, Nasdaq reporting-compliance notices tied to Form 10-Q timing, and accounting matters involving loan participation agreements and financial-statement revisions.
Broadway Financial Corporation (BYFC) reported a net loss of $244,000, or ($0.01) per diluted share, for Q3 2020, slightly better than a loss of $279,000 in Q3 2019. Net interest income rose by $1 million due to loan portfolio growth, but was offset by a $588,000 increase in non-interest expenses, mainly from merger-related costs. For the nine months ended September 30, 2020, the company posted a net loss of $61,000, a decrease from $137,000 in the same period of 2019. The merger with CFBanc Corporation is anticipated to create the largest Black-led Minority Depository Institution with pro forma assets of around $900 million.