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Broadway Financial Corporation Announces Results of Operations for First Quarter 2025
Broadway Financial Corporation ("Broadway", "we", or the "Company") (NASDAQ: BYFC), parent company of City First Bank, National Association (the "Bank", and collectively, with the Company, "City First Broadway"), reported consolidated net loss before preferred dividends of $451 thousand, or ($0.05) per diluted share, for the first quarter of 2025, compared to consolidated net loss of $164 thousand, or ($0.02) per diluted share, for the first quarter of 2024. Net loss attributable to common stock
About this update from Broadway Financial Corporation
[{"type":"text","content":"LOS ANGELES, April 28, 2025 /PRNewswire/ -- Broadway Financial Corporation ("Broadway", "we", or the "Company") (NASDAQ: BYFC), parent company of City First Bank, National Association (the "Bank", and collectively, with the Company, "City First Broadway"), reported consolidated net loss before preferred dividends of $451 thousand, or ($0.05) per diluted share, for the first quarter of 2025, compared to consolidated net loss of $164 thousand, or ($0.02) per diluted share, for the first quarter of 2024. Net loss attributable to common stockholders was $1.2 million during the first quarter of 2025 after deducting preferred dividends of $750 thousand, compared to net loss attributable to common stockholders of $164 thousand for the first quarter of 2024. Diluted loss per common share was ($0.14) for the first quarter of 2025, compared to ($0.02) of loss per diluted common share for the first quarter of 2024. Diluted loss per common share for the first quarter of 2025 reflects preferred dividends of $0.09 per diluted common share.","length":1103,"tagName":"p"},{"type":"image","alt":"Broadway Financial Corporation (PRNewsfoto/Broadway Financial Corporation)","displaySize":"","headline":null,"caption":"Broadway Financial Corporation (PRNewsfoto/Broadway Financial Corporation)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":116,"url":"https://media.zenfs.com/en/prnewswire.com/18fea121b8e841b540a8eba55a3c6906"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/fV2KpfHcOKR10b3BuuMjwg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTIwNDtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/18fea121b8e841b540a8eba55a3c6906","width":400,"height":116}},"href":"https://mma.prnewswire.com/media/2599348/Broadway_updated_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"During the first quarter of 2025, net interest income increased by $521 thousand, or 6.9%, to $8.0 million, compared to the first quarter of 2024. The increase resulted from lower interest expense on borrowings, due to decreases in the average balance and average cost of borrowings, and an increase in interest and fees on loans receivable, primarily due to an increase in rates. These increases were partially offset by an increase in interest expense on deposi...