Broadway Financial Corp COO retiring, appoints John A. Allen as Chief Banking Officer

BROADWAY FINANCIAL CORP \DE\

COO Ruth McCloud to retire from City First Bank on March 31, 2025, after 10 years of service.
John A. Allen appointed as newly created Chief Banking Officer, effective Jan 13, 2025, reporting to CEO Brian Argrett.
Allen brings 30+ years experience, most recently as Region President at Wells Fargo for Washington D.C. metro area.
Allen will receive base salary $310,000, target cash award of 25% of base, and equity award of 25% of base.
Retirement and appointment aim for seamless transition; Allen to oversee commercial sales, credit, operations, retail.

item 5.02 item 9.01

Executive movements

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Appointed

John A. Allen

Chief Banking Officer

BYFC · BROADWAY FINANCIAL CORP \DE\

Effective: 2025-01-13
Filed: January 16, 2025, 6:59 PM ET

announce the appointment of John A. Allen as Chief Banking Officer. John joined City First Bank on January 13, 2025

Departed

Ruth McCloud

Chief Operating Officer

BYFC · BROADWAY FINANCIAL CORP \DE\

Effective: 2025-03-31
Filed: January 16, 2025, 6:59 PM ET

announced Chief Operating Officer, Ruth McCloud, provided notice on January 13, 2025, that she will be retiring from City First Bank on March 31, 2025.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

John A. Allen was appointed as Chief Banking Officer at BROADWAY FINANCIAL CORP \DE\.

Action: appointed
Role: Chief Banking Officer

Exact text from the filing

announce the appointment of John A. Allen as Chief Banking Officer. John joined City First Bank on January 13, 2025

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.98

Ruth McCloud departed as Chief Operating Officer at BROADWAY FINANCIAL CORP \DE\.

Action: retiring
Role: Chief Operating Officer

Exact text from the filing

announced Chief Operating Officer, Ruth McCloud, provided notice on January 13, 2025, that she will be retiring from City First Bank on March 31, 2025.

View on SEC.gov

BROADWAY FINANCIAL CORP \DE\ filing history →

Source: SEC EDGAR

accession 0001140361-25-001206

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