---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-24-029656"
form_type: "8-K"
ticker: "BYFC"
cik: "0001001171"
company_name: "BROADWAY FINANCIAL CORP \\DE\\"
filed_at: "2024-06-11T23:59:59+00:00"
generated_at: "2026-06-01T04:58:03.646088+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Broadway Financial Q1 2024 net loss of $164K ($0.02/share) vs net income of $1.6M a year ago

## Summary
- Net interest income fell 9.1% to $7.5M on higher interest expense from borrowings and deposits.
- Non-interest expense jumped 25.8% to $7.8M, driven by $905K in professional services and $648K in compensation.
- Company incurred ~$700K in non-recurring costs related to investigation of material weaknesses in internal controls.
- Gross loans receivable grew 5.2% sequentially to $934.8M; deposits increased $12.9M to $695.5M.
- Credit loss provision was $260K; allowance for credit losses stood at $7.6M with only one non-performing loan of $401K.

## SEC filing metadata
- accession: 0001140361-24-029656
- form_type: 8-K
- ticker: BYFC
- cik: 0001001171
- company_name: BROADWAY FINANCIAL CORP \DE\
- filed_at: 2024-06-11T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1001171/000114036124029656/0001140361-24-029656-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1001171/000114036124029656/ef20030968_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-24-029656
- JSON: https://secwatch.observer/filing/0001140361-24-029656.json
- Plain text: https://secwatch.observer/filing/0001140361-24-029656.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.