Broadway Financial Q3 net income $1.3M, up 553% YoY; NIM expands to 3.02%

BROADWAY FINANCIAL CORP \DE\

2022-Q3 EPS reported $0.06 revenue$106,000

Net earnings of $1.3M ($0.02 diluted EPS) vs $182K ($0.00) in Q3 2021.
Net interest income up 43.7% to $8.6M; net interest margin +59 bps to 3.02%.
Loan originations over $101M (+20.7% YoY); total loans $726.7M.
Equity increased to $277.4M from $141.0M, driven by $150M Series C preferred stock issuance.
Loan loss provision $1.0M (up from $365K) due to loan growth and credit reclassification.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BROADWAY FINANCIAL CORP \DE\ reported the third quarter of 2022 results: net income $1.3 million, EPS $0.02 per diluted share.

Period: the third quarter of 2022
Net income: $1.3 million
EPS: $0.02 per diluted share
Result: reported results

Exact text from the filing

Broadway Financial Corporation (“Broadway”, “we”, or the “Company”) (NASDAQ Capital Market: BYFC), reported consolidated net earnings of $1.3 million, or $0.02 per diluted share, for the third quarter of 2022

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BROADWAY FINANCIAL CORP \DE\ filing history →

Source: SEC EDGAR

accession 0001140361-22-039697

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