Broadway Financial details 2025 results and 2026 strategy
Broadway Financial Corporation furnished its Annual Meeting presentation, highlighting 2025 results and its strategy through 2026 and beyond.
Sentiment and the balance of points
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Form Type
8-K
Rhea-AI Filing Summary
Broadway Financial Corporation furnished its Annual Meeting presentation, highlighting 2025 results and its strategy through 2026 and beyond. The bank reported total assets of $1.3 billion, gross loans of $1.0 billion, and deposits of $0.9 billion as of December 31, 2025.
Results were pressured by a $25.9 million goodwill impairment in 2025, producing a GAAP net loss of $24.8 million, while adjusted net income was $1.1 million and adjusted return on average assets was 0.08%. The bank remains well capitalized, with a Community Bank Leverage Ratio of 14.09% and total liquidity of $425 million.
Management described a strategic repositioning away from less profitable wholesale multifamily lending toward relationship-based, mission-driven commercial, CRE, and small business banking. First quarter 2026 figures showed net income of $1.1 million, net interest margin of 2.75%, and a CBLR of 14.06%, supporting the plan to grow low-cost deposits, diversify loans, and increase fee income.
8-K Event Classification
3 items: 5.07, 7.01, 9.01
3 items
Item 5.07
Submission of Matters to a Vote of Security Holders
Governance
Results of a shareholder vote on proposals at an annual or special meeting.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Total assets: $1.3 billion
Total gross loans: $1.0 billion
Total deposits: $0.9 billion
+5 more
8 metrics
Total assets
$1.3 billion
As of December 31, 2025
Total gross loans
$1.0 billion
As of December 31, 2025
Total deposits
$0.9 billion
As of December 31, 2025
Goodwill impairment
$25.9 million
Recognized in Q3 2025
2025 GAAP net income
-$24.8 million
Full-year 2025
2025 adjusted net income
$1.050 million
Excludes goodwill impairment
Community Bank Leverage Ratio
14.09%
As of December 31, 2025
Total liquidity
$425 million
As of December 31, 2025
Key Terms
Community Bank Leverage Ratio (CBLR), goodwill impairment, Community Development Financial Institution (CDFI), B Corp, +1 more
5 terms
Community Bank Leverage Ratio (CBLR) financial
"Community Bank Leverage Ratio (CBLR) 14.09% (as of 12/31/25)"
goodwill impairment financial
"the $25.9MM goodwill impairment expense recognized in Q3 2025"
Goodwill impairment occurs when a company’s valued reputation or brand strength, known as goodwill, is found to be worth less than previously recorded on its financial statements. This usually happens when the company's performance declines or market conditions change, signaling that the expected benefits from acquisitions or brand value are no longer as strong. It matters to investors because it can indicate that a company's assets are less valuable than initially thought, potentially affecting its overall financial health.
Community Development Financial Institution (CDFI) regulatory
"City First Bank, N.A. operates as a certified Community Development Financial Institution (CDFI)"
A community development financial institution (CDFI) is a specialized lender—such as a bank, credit union, or loan fund—whose main purpose is to provide loans and financial services to low‑income neighborhoods, small businesses, and underserved people who often lack access to traditional banking. Think of it as a neighborhood-focused bank that blends a social mission with financial services; investors watch CDFIs for their potential combination of steady community-driven lending, government or philanthropic support, and impact-oriented returns that differ from mainstream commercial lenders.
B Corp regulatory
"BYFC operates as a certified B Corp and Public Benefit Corporation."
A B Corp is a private certification awarded to businesses that meet independently verified standards for social and environmental performance, transparency, and legal accountability — like a quality seal showing a company balances profit with purpose. For investors, B Corp status can signal lower reputational and regulatory risk, stronger stakeholder relationships, and a commitment to long-term sustainable practices, making it a useful factor when comparing investment candidates.
Non-GAAP Financial Measures financial
"Appendix: Non-GAAP Financial Measures 21 Reconciliation of Non-GAAP Information"
Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were Broadway Financial (BYFC) key balance sheet figures at year-end 2025?
Broadway Financial ended 2025 with $1.3 billion in total assets, $1.0 billion in total gross loans, and $0.9 billion in total deposits. The loan-to-deposit ratio was 112%, reflecting a loan-heavy balance sheet supported by growing deposits.
How profitable was Broadway Financial (BYFC) in 2025 on a GAAP and adjusted basis?
In 2025, Broadway Financial recorded a GAAP net loss of $24.8 million, driven by a $25.9 million goodwill impairment. Excluding this one-time charge, adjusted net income was $1.1 million, yielding an adjusted return on average assets of 0.08% for the year.
What is Broadway Financial (BYFC)’s capital position based on the latest data?
Broadway Financial reported a Community Bank Leverage Ratio of 14.09% as of December 31, 2025, well above the 9.00% regulatory minimum. Total capital included $150 million of ECIP preferred stock carrying a 2.00% perpetual dividend rate from the U.S. Treasury.
How did Broadway Financial (BYFC) perform in the first quarter of 2026?
For first quarter 2026, Broadway Financial reported $1.1 million in net income, gross loans of $1.069 billion, and deposits of $918 million. Net interest margin improved to 2.75%, while the Community Bank Leverage Ratio remained strong at 14.06%.
What strategic shift did Broadway Financial (BYFC) outline in its presentation?
Management described a shift away from legacy wholesale multifamily lending, which became less profitable, toward relationship-driven commercial, CRE, and small business lending. The goal is to reduce CRE concentration, improve liquidity, and support mission-based growth in underserved communities.
How much liquidity does Broadway Financial (BYFC) currently have available?
As of December 31, 2025, Broadway Financial listed total liquidity of $425 million, including cash and equivalents, unpledged investment securities, lines of credit, and Federal Home Loan Bank availability. This liquidity base is intended to support funding stability and future growth initiatives.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 17, 2026
(Exact name of registrant as specified in its charter)
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(State or other jurisdiction of incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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Registrant’s telephone number, including area code: (323 ) 634-1700
NOT APPLICABLE
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading symbol(s)
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Name of each exchange on which
registered
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any
new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 5.07 |
Submission of Matters to a Vote of Security Holders
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(a)
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The Broadway Financial Corporation (the “Company”) Annual Meeting of Stockholders was held on June 17, 2026. Proxies for
the meeting were solicited pursuant to Section 14(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and there was no solicitation in opposition to the Company's Board of Directors
solicitations.
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(b)
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Stockholders voted on the matters set forth below:
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1.
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The nominees for election to the Company’s Board of Directors set forth in Item 1 to the Company’s Proxy Statement filed with the U.S. Securities and
Exchange Commission on April 30, 2026 were elected to serve until the Annual Meeting of Stockholders to be held in the year 2029 or until their respective successors are duly elected and qualified, based on the following vote:
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Nominee
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Votes For
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Votes Withheld
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Broker Non-Votes
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Brian E. Argrett
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2,599,102
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84,212
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1,010,675
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Mary Ann Donovan
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2,244,672
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438,642
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1,010,675
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Mary M. Hentges
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2,595,986
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87,328
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1,010,675
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2.
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The proposal to ratify on an advisory (non-binding) basis the appointment of Crowe LLP as the independent registered public accounting firm for the
Company for its fiscal year ending December 31, 2026 was approved based upon the following votes:
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Votes for approval
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3,551,552
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Votes against
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132,899
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Abstentions
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9,538
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3.
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The proposal to approve the Company’s executive compensation on an advisory (non-binding) basis was approved based upon the following votes:
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Votes for approval
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2,508,990
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Votes against
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164,287
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Abstentions
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10,037
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Broker Non-Votes
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1,010,675
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4.
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Our stockholders selected on an advisory (non-binding) basis the frequency of future advisory votes to approve the Company’s executive
compensation as set forth in the table below:
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Votes for 1 Year
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2,654,844
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Votes for 2 Years
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7,272
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Votes for 3 Years
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19,527
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Abstentions
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1,671
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| Broker Non-Votes |
1,010,675 |
The Company has decided, consistent with the majority of the votes cast at the Annual Meeting of Stockholders, that future advisory
votes to approve the Company’s executive compensation be held annually.
| Item 7.01 |
Regulation FD Disclosure
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Attached as Exhibit 99.1 to this report is the presentation for the Company’s Annual Meeting of
Stockholders held on June 17, 2026, which is posted as a presentation in the “Investor Relations” page of its website, www.cityfirstbank.com. The information contained in this Current Report on Form 8-K that is furnished as Exhibit 99.1 is incorporated herein solely for purposes of this Item 7.01 disclosure. Such
presentation shall not be deemed “filed” for any purpose, including for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that Section. The information in this Item 7.01, as well as Exhibit 99.1, shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as
amended, or the Exchange Act regardless of any general incorporation language in such filing.
| Item 9.01 |
Financial Statements and Exhibits.
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| (d) | Exhibits |
| 99.1 |
Presentation dated June 17, 2026
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| 104 |
The cover page from this Current Report on Form 8-K, formatted in Inline XBRL (included as Exhibit 101).
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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BROADWAY FINANCIAL CORPORATION
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Date: June 23, 2026
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By:
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/s/ Zack Ibrahim
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Zack Ibrahim
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Executive Vice President and
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Chief Financial Officer
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Exhibit 99.1
