Broadway Financial Corporation Announces Results for Fourth Quarter and Full Calendar Year 2024

LOS ANGELES, Jan. 27, 2025 /PRNewswire/ -- Broadway Financial Corporation ("Broadway" or the "Company") (NASDAQ: BYFC), parent company of City First Bank, National Association (the "Bank", and collectively with the Company, "we" or "City First Broadway"), reported net income attributable to Broadway of $1.3 million for the fourth quarter of 2024 compared to $2.6 million for the fourth quarter of 2023, a decrease of $1.3 million.  Net income attributable to common stockholders was $550 thousand during the fourth quarter of 2024, after deducting preferred dividends of $750 thousand, compared to net income attributable to common stockholders of $2.6 million for the fourth quarter of 2023.  Diluted earnings per common share was $0.06 for the fourth quarter of 2024, compared to $0.31 per diluted common share for the fourth quarter of 2023, which reflected grant income of $3.7 million received from the Equitable Recovery Program administered by the U.S. Treasury's Community Development Financial Institutions ("CDFI") Fund.  Diluted earnings per common share for the fourth quarter of 2024 reflects preferred dividends of $0.09 per diluted common share.