Broadway Financial Posts Q1 Profit of $810K, Net Interest Income Up 19%
Summary
Broadway Financial Corporation reported a net income of $810,000 for the first quarter, a significant turnaround from a loss in the prior-year period. This positive result was driven by an 18.9% year-over-year increase in net interest income, reaching $9.60 million, fueled by higher loan and securities income. The company also saw a 4.2% rise in loans and a 16.9% increase in deposits from the end of 2025, while eliminating borrowings, which boosted its net interest margin to 2.91%. This marks a material improvement from the $27.8 million net loss reported for the full fiscal year ended December 31, 2025, which was largely due to a goodwill impairment. The return to profitability and strong operational metrics suggest a positive trajectory for the bank, and investors will be watching for sustained growth and profitability in future quarters.
At the time of this announcement, BYFC was trading at $7.86 on NASDAQ in the Finance sector, with a market capitalization of approximately $73.1M. The 52-week trading range was $5.51 to $8.85. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.