secwatch.observer — SEC 8-K summary
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Issuer:     BROADWAY FINANCIAL CORP \DE\ (BYFC)
CIK:        0001001171
Form:       8-K
Filed at:   2023-08-09T23:59:59+00:00
Accession:  0001140361-23-038637
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1001171/000114036123038637/0001140361-23-038637-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1001171/000114036123038637/brhc20057225_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-038637

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer