Broadway Financial Q1 net income $1.6M, EPS $0.02; net interest margin up to 2.96%

BROADWAY FINANCIAL CORP \DE\

2023-Q1 EPS reported $0.02 revenue$61,000

Net earnings $1.6M ($0.02 diluted) vs $958k ($0.01) in Q1 2022; net interest income +15.4% to $8.3M.
Net interest margin improved 20 bps to 2.96%; total assets $1.2B (+1.8%) and loans $777.1M (+1.2%).
No non-accrual loans at Q1 end; CECL adoption increased ACL by $1.8M with a $537k net charge to retained earnings.
Deposits decreased $29.4M to $657.6M; uninsured deposits now 25% of total vs 31% in Dec 2022.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BROADWAY FINANCIAL CORP \DE\ reported first quarter of 2023 results: net income 1.6 million, EPS 0.02 per diluted share.

Period: first quarter of 2023
Net income: 1.6 million
EPS: 0.02 per diluted share
Result: reported results

Exact text from the filing

Broadway Financial Corporation (the "Company") issued a press release announcing results for the quarter ended March 31, 2023.

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44 earnings releases filed in the last 30 days. Browse all earnings releases →

BROADWAY FINANCIAL CORP \DE\ filing history →

Source: SEC EDGAR

accession 0001140361-23-023234

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