Quarterly ResultMay 15, 2026, 03:43 PM
Broadway Financial Q1 Net Income $1.2M; EPS $0.05
AI Summary
Broadway Financial Corporation announced revised results for the first quarter of 2026, correcting an error in the calculation of interest on loans. The company reported consolidated net income before preferred dividends of $1.2 million, or $0.13 per diluted share, a significant improvement from a $2.7 million loss in Q1 2025. Net income attributable to common stockholders was $409 thousand, or $0.05 per diluted share, reversing a $3.4 million loss year-over-year. The company also achieved strong growth in loans and deposits, and eliminated $72.0 million in borrowings.
Key Highlights
- Consolidated net income before preferred dividends was $1.2 million, up from a $2.7 million loss in Q1 2025.
- Diluted income per common share was $0.05, compared to a loss of ($0.39) in Q1 2025.
- Net interest income increased 12.5% to $9.1 million from $8.0 million in Q1 2025.
- Net interest margin rose to 2.75% in Q1 2026 from 2.63% in Q1 2025.
- Total loans grew 4.2%, or $42.7 million, during Q1 2026 compared to December 31, 2025.
- Total deposits increased 16.9%, or $155.5 million, during Q1 2026 compared to December 31, 2025.
- Borrowings were reduced by $72.0 million to $0 at March 31, 2026.
- Non-interest expense decreased 21.4% to $8.0 million from $10.2 million in Q1 2025.
Price Impact
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