0001140361-26-005265
SEC filingBroadway Financial Corporation (BYFC) reported a significant net loss of $23.9 million for Q3 2025, ending September 30, 2025, driven primarily by a $25.9 million goodwill impairment charge. This compares to prior periods without specific QoQ figures disclosed in the filing. Total interest income reached $15.8 million, supported by $13.4 million from loans receivable, $1.7 million from available-for-sale securities, and $683K from other sources. Net interest income was $8.6 million after $7.2 million in interest expense. Non-interest income contributed $422K, while non-interest expenses totaled $31.5 million, including compensation and benefits at $4.3 million and the goodwill impairment. After a $679K provision for credit losses and $736K income tax expense, the net loss attributable to common stockholders was $24.6 million, or -$3 per share (basic and diluted). Total assets stood at $1.34 billion, with loans receivable at $1.01 billion and deposits at $849.2 million. Cash flows showed $2.5 million from operations but a $66.0 million use in investing, leading to a $41.6 million decline in cash equivalents to $19.7 million. The goodwill impairment and high expenses signal challenges, though deposit growth of $103.8 million supports liquidity. Investors should monitor credit quality and expense control for future quarters.
Broadway Financial Corporation reported a net loss of $23.9 million for the quarter ended September 30, 2025, compared to no prior quarter figures provided in the XBRL data. The loss was primarily driven by a $25.9 million goodwill impairment within non-interest expenses, which totaled $31.5 million. Net interest income was $8.6 million, derived from $15.8 million total interest income less $7.2 million interest expense. Provision for credit losses was $679K, resulting in net interest income after provision of $7.9 million. Non-interest income was modest at $422K from service charges ($47K), grants ($145K), and other ($230K). Income tax expense of $736K contributed to the pre-tax loss of $23.2 million. Loss per common share was -$3 basic and diluted. Comprehensive loss was $23.0 million after $1.6 million other comprehensive income from unrealized gains on securities.
Total interest income was $15.8 million, with interest and fees on loans receivable at $13.4 million, interest on available-for-sale securities at $1.7 million, and other interest income at $683K. No segment breakdowns or geographic mix are disclosed in the filing. Non-interest income totaled $422K. No growth drivers or comparisons to prior periods are explicitly stated beyond the line items provided.
No gross margin or operating margin percentages are disclosed. Profitability was severely impacted by the $25.9 million goodwill impairment and $4.3 million in compensation and benefits, alongside other expenses like information services ($768K) and professional services ($624K). An operational loss recovery of $1.6 million provided some offset, but total non-interest expense overwhelmed revenues, leading to pre-tax loss of $23.2 million.
Net cash provided by operating activities was $2.5 million, despite the net loss, due to non-cash items like $25.9 million goodwill impairment and $679K provision for credit losses. Investing activities used $66.0 million, driven by $117.9 million purchases of available-for-sale securities and $20.0 million in bank-owned life insurance, partially offset by $15.5 million net loan reduction and $84.0 million principal payments on securities. Financing provided $21.8 million, led by $103.8 million deposit inflows, though offset by $637.5 million FHLB repayments net of $549.5 million proceeds. Balance sheet shows total assets of $1.34 billion, with loans at $1.01 billion (net of $10.3 million allowance), securities at $244.0 million, deposits at $849.2 million, and equity at $261.7 million. Cash equivalents ended at $19.7 million after a $41.6 million decline.
No management guidance, strategic priorities, or specific risk factors beyond standard disclosures are detailed in the provided filing content.