secwatch.observer — SEC 8-K summary
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Issuer:     BROADWAY FINANCIAL CORP \DE\ (BYFC)
CIK:        0001001171
Form:       8-K/A
Filed at:   2023-05-16T23:59:59+00:00
Accession:  0001140361-23-024881
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Broadway Financial posts Q1 net earnings of $1.6M, up 67% YoY; net interest margin expands to 2.96%
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- Net earnings $1.6M ($0.02 diluted EPS) vs $958K ($0.01) in Q1 2022; net interest income up 15.4% to $8.3M.
- Net interest margin rose 20 bps to 2.96% from 2.76%; interest income up 39.5% to $11.0M.
- Total assets $1.2B (+1.8% vs Dec 31, 2022); loans $776.1M (+1.0%); deposits fell $29.4M to $657.6M.
- Adopted CECL on Jan 1, 2023: increased ACL by $1.8M, retained earnings charge of $1.3M net of tax.
- No non-accrual loans at quarter end; uninsured deposits improved to 25% of total deposits.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1001171/000114036123024881/0001140361-23-024881-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1001171/000114036123024881/brhc20053008_8-ka.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-024881

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