Broadway Financial Corporation Announces Results of Operations for Second Quarter 2025

Broadway Financial Corporation (“Broadway”, “we”, or the “Company”) (NASDAQ: BYFC), parent company of City First Bank, National Association (the “Bank”, and collectively, with the Company, “City First Broadway”), reported consolidated net income before preferred dividends of $603 thousand, or $0.07 per diluted share, for the second quarter of 2025, compared to consolidated net income of $269 thousand, or $0.03 per diluted share, for the second quarter of 2024. Net loss attributable to common stockholders was $147 thousand during the second quarter of 2025 after deducting preferred dividends of $750 thousand, compared to net income attributable to common stockholders of $269 thousand for the second quarter of 2024. Diluted loss per common share was ($0.02) for the second quarter of 2025, compared to $0.03 of income per diluted common share for the second quarter of 2024. Diluted loss per common share for the second quarter of 2025 reflects preferred dividends of $0.09 per diluted common share.

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For the first six months of 2025, the Company reported consolidated net loss before preferred dividends of $1.3 million, or ($0.15) per diluted share, compared to consolidated net income before preferred dividends of $105 thousand, or $0.01 per diluted share, for the first six months of 2024. Net loss attributable to common stockholders was $2.8 million during the first six months of 2025 after deducting preferred dividends of $1.5 million, compared to net income attributable to common stockholders of $105 thousand for the first six months of 2024. Diluted loss per common share was ($0.32) for the first six months of 2025, compared to $0.01 per diluted common share for the first six months of 2024. Diluted loss per common share for the first six months of 2025 reflects preferred dividends of $0.18 per diluted common share.

Second Quarter 2025 Highlights:

— The net interest margin increased by 22 basis points to 2.63% for the second quarter of 2025, compared to 2.41% for the second quarter of 2024. This increase was driven largely by growth in the yield on average loan balances and a reduction in the cost of interest-bearing liabilities

— Total deposits increased by $53.5 million, or 7.2%, during the first six months of 2025 compared to December 31, 2024

— Capital ratios remain strong with a Community Bank Leverage Ratio of 15.69% at June 30, 2025 compared to 13.96% at December 31, 2024

— Credit quality remains strong with non-accrual loans to total loans at 0.42% and non-performing loans to total assets at 0.36%

— Borrowings were $69.2 million at June 30, 2025 compared to $195.5 million at December 31, 2024, a reduction of $126.3 million, or 64.6%

Chief Executive Officer, Brian Argrett commented, “We had a favorable second quarter of 2025, and continue to build on this positive momentum. Deposits grew by 2.9%, or $22.4 million, since March 31, 2025 and 7.18%, or $53.5 million, this year. We reduced borrowings by $126.3 million to $69.2 million as of June 30, 2025 resulting in lower cost of funds. The net interest margin was 2.63% for the three months ended June 30, 2025, which is an improvement of 22 basis points compared to the same three-month period of last year.”

“Our results for the second quarter of 2025 were positively impacted by a reduction in non-interest expense of 26.23%, or $2.7 million, since last quarter, mainly due to the operational loss associated with the $1.9 million fraudulent wire during the first quarter, which will result in a corresponding gain if recovered. In addition, our second quarter financial results were positively impacted by a reduction in the provision for loan losses of $266 thousand, mainly due to a decrease in loans.”

“We remain focused on executing our strategic goals and mission objectives, building a stronger balance sheet and improving profitability in order to drive long-term performance that will help support growth in the low-to-moderate income communities within our markets.”

“As always, I thank our employees for their endless dedication and our stockholders, depositors, and board for their continued support of our strategy and mission. Your support and efforts are essential in our ability to improve our efficiency and promote growth.”

Income Statement

— Net Interest Income before provision for credit losses for the second quarter of 2025 totaled $7.8 million, representing a decrease of $163 thousand, or 2.1%, from net interest income before provision for credit losses of $7.9 million for the second quarter of 2024. The decrease resulted from a $1.3 million decrease in interest income, primarily due to a decrease in interest on interest-bearing deposits, as a result of a decrease in the average balance of interest-bearing deposits, as well as a decline in interest income on available-for-sale securities due to a decrease in the average balance of available-for-sale securities. These decreases were partially offset by a $1.1 million decrease in interest expense due to a decline in interest on borrowings as a result of a decrease in the average balance of borrowings. The Company reduced borrowings to improve the net interest margin and to support capacity for future loan growth.

The net interest margin increased to 2.63% for the second quarter of 2025 from 2.41% for the second quarter of 2024, due to an increase in the average rate earned on interest-earning assets, which increased to 4.83% for the second quarter of 2025 from 4.71% for the second quarter of 2024, and a decrease in the cost of funds, which decreased to 3.07% for the second quarter of 2025 from 3.19% for the second quarter of 2024.

Net Interest Income before provision for credit losses for the first six months of 2025 totaled $15.8 million, representing an increase of $358 thousand, or 2.3%, from net interest income before provision for credit losses of $15.4 million for the first six months of 2024. The increase resulted from a $2.0 million decrease in interest expense due to a decline in interest on borrowings as a result of a decrease in the average balance of borrowings. The Company reduced borrowings to improve the net interest margin and to support capacity for future loan growth. This increase was partially offset by a $1.7 million decrease in interest income, primarily due to a decrease in interest on interest-bearing deposits, as a result of a decrease in the average balance of interest-bearing deposits, as well as a decline in interest income on available-for-sale securities due to a decrease in the average balance of available-for-sale securities.

The net interest margin increased to 2.67% for the first six months of 2025 from 2.34% for the first six months of 2024, due to an increase in the average rate earned on interest-earnings assets, which increased to 4.83% for the first six months of 2025 from 4.59% for the first six months of 2024, and a decrease in the cost of funds, which decreased to 3.02% for the first six months of 2025 from 3.11% for the first six months of 2024.

— Recapture of/Provision for Credit Losses resulted in a recapture of credit losses of $266 thousand for the three months ended June 30, 2025, compared to a provision for credit losses of $494 thousand for the three months ended June 30, 2024. This recapture was mainly due to the decrease in loans.

The Provision for Credit Losses was $423 thousand for the six months ended June 30, 2025, compared to $754 thousand for the six months ended June 30, 2024. There were no loan charge-offs recorded during the six months ended June 30, 2025 or 2024.

The allowance for credit losses (“ACL”) increased to $8.6 million as of June 30, 2025, compared to $8.1 million as of December 31, 2024. The Bank had four non-accrual loans at June 30, 2025 with an unpaid principal balance of $4.0 million. Credit quality remains strong with non-accrual loans as a percentage of total loans at 0.42% and non-performing assets to total assets of 0.36% despite the increase in non-accrual loans.

— Non-interest Expense was $7.5 million for the second quarter of 2025, compared to $7.3 million for the second quarter of 2024, representing an increase of $242 thousand, or 3.3%. The increase was primarily due to increases of $224 thousand in professional services and $112 thousand in information services, partially offset by a $60 thousand decrease in supervisory costs and a $57 thousand decrease in compensation and benefits expense.

Non-interest Expense was $17.7 million for the first six months of 2025, compared to $15.1 million for the first six months of 2024, representing an increase of $2.6 million, or 17.4%. The increase was primarily due to a $1.9 million loss incurred from wire fraud, which will result in a gain if recovered, as well as an $830 thousand increase in compensation and benefits expense. The increase in compensation and benefits expense was primarily attributable to the addition of full-time employees during 2024 in various production and administrative positions as part of the Bank's efforts to expand its operational capabilities to grow its balance sheet. These increases were partially offset by a $485 thousand decrease in professional services expense.

— Income Tax Expense was $257 thousand for the second quarter of 2025 compared to $146 thousand for the second quarter of 2024. The increase in tax expense reflected an increase of $437 thousand in pre-tax income between the two periods. The effective tax rate was 30.09% for the second quarter of 2025, compared to 35.01% for the second quarter of 2024.

The Company recorded an income tax benefit of $435 thousand for the first six months of 2025 and income tax expense of $89 thousand for the first six months of 2024. The decrease in tax expense reflected a decrease of $1.9 million in pre-tax income between the two periods. The effective tax rate was 25.60% for the first six months of 2025, compared to 50.28% for the first six months of 2024.

Balance Sheet

— Total Assets decreased by $76.3 million at June 30, 2025, compared to December 31, 2024, reflecting decreases in cash and cash equivalents of $31.9 million, securities available-for-sale of $25.9 million, net loans of $11.6 million and FHLB stock of $5.9 million. The reduction in securities available-for-sale was mainly due to maturities and paydowns, and the cash from the securities in addition to the cash on hand was used to reduce borrowings, leading to the decrease in stock held with FHLB.

— Loans Held for Investment, Net of the ACL, decreased by $11.6 million to $957.3 million at June 30, 2025, compared to $968.9 million at December 31, 2024. The decrease was primarily due to loan payoffs and repayments.

— Deposits increased by $53.5 million, or 7.2%, to $798.9 million at June 30, 2025, from $745.4 million at December 31, 2024. The increase in deposits was attributable to an increase of $67.7 million in certificates of deposit accounts, partially offset by decreases of $4.5 million in savings deposits, $3.5 million in Certificate of Deposit Registry Service (“CDARS”) deposits (CDARS deposits are similar to ICS deposits, but involve certificates of deposit, instead of money market accounts), $3.3 million in liquid deposits (demand, interest checking, and money market accounts), and $2.9 million in Insured Cash Sweep (“ICS”) deposits (ICS deposits are the Bank's money market deposit accounts in excess of FDIC insured limits whereby the Bank makes reciprocal arrangements for insurance with other banks). As of June 30, 2025, our uninsured deposits, including deposits from City First Bank and other affiliates, represented 35% of our total deposits, compared to 32% as of December 31, 2024. We leverage our long-standing partnership with IntraFi Deposit Solutions to offer deposit insurance for accounts exceeding the FDIC deposit insurance limit of $250,000.

— Total Borrowings decreased by $129.1 million to $133.0 million at June 30, 2025, from $262.1 million at December 31, 2024, primarily due to a $135.3 million decrease in FHLB advances, partially offset by a $9.2 million increase in secured borrowings related to participation loans.

Asset Quality

— Allowance for Credit Losses was 0.89% of total loans held for investment at June 30, 2025, compared to 0.83% at December 31, 2024.

— Nonperforming Assets were $4.4 million at June 30, 2025, compared to $264 thousand at December 31, 2024.

Capital

— Stockholders' equity was $285.5 million, or 23.3% of the Company's total assets, at June 30, 2025, compared to $285.2 million, or 21.9% of the Company's total assets, at December 31, 2024.

— Book Value per Share was $14.74 at June 30, 2025, compared to $14.82 at December 31, 2024. Capital ratios remain strong with a Community Bank Leverage Ratio of 15.69% at June 30, 2025 compared to 13.96% at December 31,2024.

About Broadway Financial Corporation

Broadway Financial Corporation operates through its wholly-owned banking subsidiary, City First Bank, National Association, which is a leading mission-driven bank that serves low-to-moderate income communities within urban areas in Southern California and the Washington, D.C. market.

City First Bank offers a variety of commercial real estate loan products, services, and depository accounts that support investments in affordable housing, small businesses, and nonprofit community facilities located within low-to-moderate income neighborhoods. City First Bank is a Community Development Financial Institution, Minority Depository Institution, Certified B Corp, and a member of the Global Alliance of Banking on Values. The Bank and the City First network of nonprofits, City First Enterprises, Homes By CFE, and City First Foundation, represent the City First branded family of community development financial institutions, which offer a robust lending and deposit platform.

Contacts

Investor Relations Zack Ibrahim, Chief Financial Officer, (202) 243-7100 Investor.relations@cityfirstbroadway.com

Cautionary Statement Regarding Forward-Looking Information

This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations or financial condition, business strategy and plans and objectives of management for future operations and capital allocation and structure, are forward-looking statements. Forward‑looking statements typically include the words “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” “poised,” “optimistic,” “prospects,” “ability,” “looking,” “forward,” “invest,” “grow,” “improve,” “deliver” and similar expressions, but the absence of such words or expressions does not mean a statement is not forward-looking. These forward‑looking statements are subject to risks and uncertainties, including those identified below, which could cause actual future results to differ materially from historical results or from those anticipated or implied by such statements. The following factors, among others, could cause future results to differ materially from historical results or from those indicated by forward‑looking statements included in this press release: (1) the level of demand for mortgage and commercial loans, which is affected by such external factors as general economic conditions, market interest rate levels, tax laws, and the demographics of our lending markets; (2) the direction and magnitude of changes in interest rates and the relationship between market interest rates and the yield on our interest‑earning assets and the cost of our interest‑bearing liabilities; (3) the rate and amount of loan losses incurred and projected to be incurred by us, increases in the amounts of our nonperforming assets, the level of our loss reserves and management's judgments regarding the collectability of loans; (4) changes in the regulation of lending and deposit operations or other regulatory actions, whether industry-wide or focused on our operations, including increases in capital requirements or directives to increase allowances for loan losses or make other changes in our business operations; (5) legislative or regulatory changes, including those that may be implemented by the current administration in Washington, D.C. and the Federal Reserve Board; (6) possible adverse rulings, judgments, settlements and other outcomes of litigation; (7) actions undertaken by both current and potential new competitors; (8) the possibility of adverse trends in property values or economic trends in the residential and commercial real estate markets in which we compete; (9) the effect of changes in general economic conditions; (10) the effect of geopolitical uncertainties; (11) the impact of health crises on our future financial condition and operations; (12) the impact of any volatility in the banking sector due to the failure of certain banks due to high levels of exposure to liquidity risk, interest rate risk, uninsured deposits and cryptocurrency risk; and (13) other risks and uncertainties. All such factors are difficult to predict and are beyond our control. Additional factors that could cause results to differ materially from those described above can be found in our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K or other filings made with the SEC and are available on our website at http://www.cityfirstbank.com and on the SEC's website athttp://www.sec.gov.

Forward-looking statements in this press release speak only as of the date they are made, and we undertake no obligation, and do not intend, to update these forward-looking statements to reflect events or circumstances occurring after the date of this press release, except to the extent required by law. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

The following table sets forth the consolidated statements of financial condition as of June 30, 2025 and December 31, 2024.

BROADWAY FINANCIAL CORPORATIONConsolidated Statements of Financial Condition(In thousands, except share and per share amounts) June 30, 2025 December 31, 2024 (Unaudited)Assets:Cash and due from banks $ 1,955 $ 2,255Interest-bearing deposits in other banks 27,559 59,110Cash and cash equivalents 29,514 61,365Securities available-for-sale, at fair value (amortized cost of $190,030 and $219,658) 177,977 203,862Loans receivable held for investment, net of allowance of $8,582 and $8,103 957,293 968,861Accrued interest receivable 5,109 5,001Federal Home Loan Bank (FHLB) stock 3,761 9,637Federal Reserve Bank (FRB) stock 3,543 3,543Office properties and equipment, net 8,721 8,899Bank owned life insurance 3,343 3,321Deferred tax assets, net 8,268 8,803Core deposit intangible, net 1,618 1,775Goodwill 25,858 25,858Other assets 2,387 2,786Total assets $ 1,227,392 $ 1,303,711Liabilities and stockholders' equityLiabilities:Deposits $ 798,922 $ 745,399Securities sold under agreements to repurchase 63,786 66,610Borrowings 69,217 195,532Accrued expenses and other liabilities 9,712 10,794Total liabilities 941,637 1,018,335Stockholders' equity:Non-Cumulative Redeemable Perpetual Preferred stock, Series C; authorized 150,000 shares at 150,000 150,000June 30, 2025 and December 31, 2024; issued and outstanding 150,000 shares atJune 30, 2025 and December 31, 2024; liquidation value $1,000 per shareCommon stock, Class A, $0.01 par value, voting; authorized 75,000,000 shares at 64 63June 30, 2025 and December 31, 2024; issued 6,425,001 shares at June 30, 2025 and6,349,455 shares at December 31, 2024; outstanding 6,097,773 shares at June 30, 2025and 6,022,227 shares at December 31, 2024Common stock, Class B, $0.01 par value, non-voting; authorized 15,000,000 shares at 14 14June 30, 2025 andDecember 31, 2024; issued and outstanding 1,425,574 shares atJune 30, 2025 and December 31, 2024Common stock, Class C, $0.01 par value, non-voting; authorized 25,000,000 shares at 17 17June 30, 2025 and December 31, 2024; issued and outstanding 1,672,562 atJune 30, 2025 and December 31, 2024Additional paid-in capital 143,266 142,902Retained earnings 10,156 12,911Unearned Employee Stock Ownership Plan (ESOP) shares (4,089) (4,201)Accumulated other comprehensive loss, net of tax (8,557) (11,223)Treasury stock-at cost, 327,228 shares at June 30, 2025 and at December 31, 2024 (5,326) (5,326)Total Broadway Financial Corporation and Subsidiary stockholders' equity 285,545 285,157Non-controlling interest 210 219Total liabilities and stockholders' equity $ 1,227,392 $ 1,303,711

The following table sets forth the consolidated statements of operations for the three and six months ended June 30, 2025 and 2024.

BROADWAY FINANCIAL CORPORATIONConsolidated Statements of Operations(In thousands, except share and per share amounts) Three Months EndedSix Months Ended June 30, June 30, 2025 2024 2025 2024‌Interest income:Interest and fees on loans receivable $ 12,658 $ 12,179 $ 25,348 $ 23,308Interest on available-for-sale securities 1,171 1,876 2,379 3,951Other interest income 401 1,433 877 3,022Total interest income 14,230 15,488 28,604 30,281‌Interest expense:Interest on deposits 4,879 3,086 9,078 5,885Interest on borrowings 1,596 4,484 3,726 8,954Total interest expense 6,475 7,570 12,804 14,839Net interest income 7,755 7,918 15,800 15,442(Recapture of) provision for credit losses (266) 494 423 754Net interest income after (recapture of) provision for credit losses 8,021 7,424 15,377 14,688‌Non-interest income:Service charges 41 38 84 78Grants 105 – 131 -Other 209 235 428 501Total non-interest income 355 273 643 579‌Non-interest expense:Compensation and benefits 4,412 4,469 9,696 8,866Occupancy expense 485 432 1,025 867Information services 775 663 1,480 1,370Professional services 787 563 1,488 1,973Advertising and promotional expense 61 63 107 91Supervisory costs 156 216 349 393Corporate insurance 66 64 133 125Amortization of core deposit intangible 79 84 157 168Operational loss – – 1,943 -Other expense 701 726 1,341 1,237Total non-interest expense 7,522 7,280 17,719 15,090‌Income (loss) before income taxes 854 417 (1,699) 177Income tax expense (benefit) 257 146 (435) 89Net income (loss) $ 597 $ 271 $ (1,264)$ 88Less: Net (loss) income attributable to non-controlling interest (6) 2 (9) (17)Net income (loss) attributable to Broadway Financial Corporation $ 603 $ 269 $ (1,255)$ 105Less: Preferred stock dividends 750 – 1,500 -‌Net (loss) income attributable to common stockholders $ (147) $ 269 $ (2,755)$ 105‌(Loss) earnings per common share-basic $ (0.02) $ 0.03 $ (0.32) $ 0.01(Loss) earnings per common share-diluted $ (0.02) $ 0.03 $ (0.32) $ 0.01

The following tables set forth the average balances, average yields and costs for the periods indicated. All average balances are daily average balances. The yields set forth below include the effect of deferred loan fees, and discounts and premiums that are amortized or accreted to interest income or expense.

For the Three Months Ended June 30, 2025 June 30, 2024 (Dollars in thousands) (Unaudited) Average Interest Average Average Interest Average Balance Yield Balance YieldAssetsInterest-earning assets:Interest-earning deposits $ 24,132 $ 266 4.42 % $ 88,294 $ 1,189 5.42 %Securities 182,351 1,171 2.58 % 276,457 1,876 2.73 %Loans receivable (1) 968,028 12,658 5.24 % 943,072 12,179 5.19 %FRB and FHLB stock (2) 7,473 135 7.25 % 13,835 244 7.09 %Total interest-earning assets 1,181,984 $ 14,230 4.83 % 1,321,658 $ 15,488 4.71 %Non-interest-earning assets 49,786 53,207Total assets $ 1,231,770 $ 1,375,165‌Liabilities and Stockholders' EquityInterest-bearing liabilities:Money market deposits $ 133,930 $ 336 1.01 % $ 274,915 $ 1,623 2.37 %Savings deposits 46,762 61 0.52 % 57,684 102 0.71 %Interest checking and other demand deposits 251,146 1,975 3.15 % 73,853 166 0.90 %Certificate accounts 270,424 2,507 3.72 % 163,237 1,195 2.94 %Total deposits 702,262 4,879 2.79 % 569,689 3,086 2.18 %Borrowings 72,962 710 3.90 % 209,261 2,593 4.98 %Bank Term Funding Program borrowing – – – % 100,000 1,210 4.87 %Other borrowings 69,722 886 5.10 % 74,523 681 3.68 %Total borrowings 142,684 1,596 4.49 % 383,784 4,484 4.70 %Total interest-bearing liabilities 844,946 $ 6,475 3.07 % 953,473 $ 7,570 3.19 %Non-interest-bearing liabilities 101,670 139,900Stockholders' equity 285,154 281,792Total liabilities and stockholders' equity $ 1,231,770 $ 1,375,165‌Net interest rate spread (3) $ 7,755 1.76 % $ 7,918 1.52 %Net interest rate margin (4) 2.63 % 2.41 %Ratio of interest-earning assets to interest-bearing liabilities 139.89 % 138.62 %
(1) Amount includes non-accrual loans.(2) FHLB is Federal Home Loan Bank.(3) Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities.(4) Net interest rate margin represents net interest income as a percentage of average interest-earning assets.
For the Six Months Ended June 30, 2025 June 30, 2024 (Dollars in thousands) (Unaudited) Average Interest Average Average Interest Average Balance Yield Balance YieldAssetsInterest-earning assets:Interest-earning deposits $ 26,532 $ 578 4.39 % $ 97,640 $ 2,533 5.22 %Securities 189,368 2,379 2.53 % 290,721 3,951 2.73 %Loans receivable (1) 970,241 25,348 5.27 % 925,443 23,308 5.06 %FRB and FHLB stock (2) 9,320 299 6.47 % 13,777 489 7.14 %Total interest-earning assets 1,195,461 $ 28,604 4.83 % 1,327,581 $ 30,281 4.59 %Non-interest-earning assets 50,061 51,988Total assets $ 1,245,512 $ 1,379,569‌Liabilities and Stockholders' EquityInterest-bearing liabilities:Money market deposits $ 126,557 $ 593 0.94 % $ 272,290 $ 3,065 2.26 %Savings deposits 47,732 129 0.54 % 58,377 204 0.70 %Interest checking and other demand deposits 253,384 3,886 3.09 % 78,772 311 0.79 %Certificate accounts 247,498 4,470 3.64 % 164,319 2,305 2.82 %Total deposits 675,171 9,078 2.71 % 573,758 5,885 2.06 %FHLB advances 106,106 2,239 4.26 % 209,280 5,191 4.99 %Bank Term Funding Program borrowing – – – % 100,000 2,413 4.85 %Other borrowings 73,237 1,487 4.09 % 76,688 1,350 3.45 %Total borrowings 179,343 3,726 4.19 % 385,968 8,954 4.67 %Total interest-bearing liabilities 854,514 $ 12,804 3.02 % 959,726 $ 14,839 3.11 %Non-interest-bearing liabilities 105,111 138,012Stockholders' equity 285,887 281,831Total liabilities and stockholders' equity $ 1,245,512 $ 1,379,569Net interest rate spread (3) $ 15,800 1.80 % $ 15,442 1.48 %Net interest rate margin (4) 2.67 % 2.34 %Ratio of interest-earning assets to interest-bearing liabilities 139.90 % 138.33 %
(1) Amount includes non-accrual loans.(2) FHLB is Federal Home Loan Bank.(3) Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities.(4) Net interest rate margin represents net interest income as a percentage of average interest-earning assets.
BROADWAY FINANCIAL CORPORATION AND SUBSIDIARYSelected Financial Data and Ratios (Unaudited)(Dollars in thousands, except per share data) Three Months Ended Six Months Ended June 30, March 31, December 31, September 30, June 30, June 30, June 30, 2025 2025 2024 2024 2024 2025 2024Balance Sheets: Total gross loans 965,875 980,005 976,964 975,315 946,840 965,785 946,840 Allowance for credit losses 8,582 8,774 8,103 8,527 8,104 8,582 8,104 Investment securities 177,977 185,938 203,862 238,489 261,454 177,977 261,454 Total assets 1,227,392 1,238,019 1,303,711 1,373,055 1,367,290 1,227,392 1,367,290 Total deposits 798,922 776,543 745,399 672,248 687,369 798,922 687,369 Total shareholders' equity 285,545 284,581 285,157 286,392 282,293 285,545 282,293 ‌Profitability: Interest income 14,230 14,374 15,762 16,166 15,488 28,604 30,281 Interest expense 6,475 6,329 7,765 7,836 7,570 12,804 14,839Net interest income 7,755 8,045 7,997 8,330 7,918 15,800 15,442 (Recovery of) provision for credit losses (266) 689 (489) 399 494 423 754 Non-interest income 355 288 560 416 273 643 579 Non-interest expenses 7,522 10,197 7,210 7,594 7,280 17,719 15,090 Income (loss) before income taxes 854 (2,553) 1,836 753 417 (1,699) 177 Income tax expense (benefit) 257 (692) 516 209 146 (435) 89 Net income (loss) 597 (1,861) 1,320 544 271 (1,264) 88 Less: Net (loss) income attributable to non-controlling interest (6) (3) 20 22 2 (9) (17) Net income (loss) attributable to Broadway Financial Corporation 603 (1,858) 1,300 522 269 (1,255) 105 Less: Preferred stock dividends 750 750 750 750 – 1,500 – Net (loss) income attributable to common stockholders (147) (2,608) 550 (228) 269 (2,755) 105 ‌Financial Performance: Return on average assets (annualized) (0.05%) (0.84%) 0.16% (0.07%) 0.08% (0.45%) 0.02% Return on average equity (annualized) (0.21%) (3.69%) 0.77% (0.32%) 0.38% (1.94%) 0.08% Net interest margin 2.63% 2.70% 2.42% 2.49% 2.41% 2.67% 2.34% Efficiency ratio 92.75% 122.37% 84.26% 86.83% 88.88% 107.76% 94.19% ‌Per Share Data: Book value per share 14.74 14.58 14.82 14.97 14.49 14.74 14.49 Weighted average common shares (basic) 8,622,891 8,547,460 8,459,460 8,520,730 8,394,367 8,557,745 8,308,359 Weighted average common shares (diluted) 8,622,891 8,547,460 8,638,660 8,684,296 8,596,985 8,557,745 8,513,262 Common shares outstanding at end of period 9,195,909 9,231,180 9,120,363 9,112,777 9,131,979 9,195,909 9,131,979 ‌Financial Measures: Loans to assets 78.69% 79.16% 74.94% 71.03% 69.25% 78.69% 69.25% Loans to deposits 120.90% 126.20% 131.07% 145.08% 137.75% 120.90% 137.75% Allowance for credit losses to total loans 0.89% 0.90% 0.83% 0.87% 0.86% 0.89% 0.86% Allowance for credit losses to total nonperforming loans 192.98% 1020.23% 3069.32% 2930.24% 2470.73% 192.98% 2470.73% Non-accrual loans to total loans 0.42% 0.09% 0.03% 0.03% 0.03% 0.42% 0.03% Nonperforming loans to total assets 0.36% 0.07% 0.02% 0.02% 0.02% 0.36% 0.02% Net charge-offs (recoveries) (annualized) to average total loans – – – – – – – ‌Average Balance Sheets: Total loans 968,028 972,479 976,873 963,849 943,072 970,241 925,443 Investment securities 182,351 196,463 222,879 248,833 276,457 189,368 290,721 Total assets 1,231,770 1,259,448 1,363,572 1,382,066 1,375,165 1,245,512 1,379,569 Total interest-bearing deposits 702,262 647,777 622,217 570,512 569,689 675,171 573,758 Total shareholders' equity 285,154 286,629 285,775 284,343 281,792 285,887 281,831

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