Broadway Financial Q2 net earnings $243K vs $1.9M YoY; EPS $0.00 vs $0.03

BROADWAY FINANCIAL CORP \DE\

2023-Q2 EPS reported $0.03 revenue$99,000

Net earnings $243K ($0.00 diluted EPS) vs $1.9M ($0.03) in Q2 2022; net interest income $7.3M down 9.6% YoY.
Net interest margin shrank to 2.52% from 3.00% due to 190 bps rise in cost of funds.
Total loans $824.6M (+7.4% vs Dec 2022); no non-accrual loans; ACL increased to $7.0M under CECL.
Deposits fell $40.9M to $646.1M; borrowings rose $89.8M to $295.6M to fund loan growth.
CEO cites rising inflation, higher funding costs, and 11 Fed rate hikes as headwinds; equity >$275M.

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 six months of 2022 results: net income consolidated net earnings of $2.8 million, EPS $0.04 per diluted share.

Period: first six months of 2022
Net income: consolidated net earnings of $2.8 million
EPS: $0.04 per diluted share
Result: reported results

Exact text from the filing

consolidated net earnings of $2.8 million, or $0.04 per diluted share for the first six months of 2022

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BROADWAY FINANCIAL CORP \DE\ reported second quarter of 2022 results: net income consolidated net earnings of $1.9 million, EPS $0.03 per diluted share.

Period: second quarter of 2022
Net income: consolidated net earnings of $1.9 million
EPS: $0.03 per diluted share
Result: reported results

Exact text from the filing

consolidated net earnings of $1.9 million, or $0.03 per diluted share, for the second quarter of 2022

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BROADWAY FINANCIAL CORP \DE\ reported first six months of 2023 results: net income consolidated net earnings of $1.8 million, EPS $0.03 per diluted share.

Period: first six months of 2023
Net income: consolidated net earnings of $1.8 million
EPS: $0.03 per diluted share
Result: reported results

Exact text from the filing

For the first six months of 2023, the Company reported consolidated net earnings of $1.8 million, or $0.03 per diluted share

View on SEC.gov

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

BROADWAY FINANCIAL CORP \DE\ filing history →

Source: SEC EDGAR

accession 0001140361-23-038637

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