NASDAQ$BYFC
Broadway Financial Corp/DE · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Second quarter results for 2024 were announced, with the company returning to profitability.
Broadway Financial Corporation reported consolidated net earnings of $269 thousand, or $0.03 per diluted share, for the second quarter of 2024. Net interest income increased by $650 thousand, or 8.9%, to $7.9 million compared to the second quarter of 2023. Total gross loans receivable increased by $59.0 million to $946.8 million at June 30, 2024, compared to December 31, 2023.
- Net earnings were $269 thousand, or $0.03 per diluted share.
- Net interest income increased by $650 thousand, or 8.9%, to $7.9 million.
- Total gross loans receivable increased by $59.0 million to $946.8 million.
- Total interest income increased by $3.8 million, or 33.1%.
Headline financials
Revenue & EPS history
Broadway Financial · Revenue · Quarterly
$8.19M
Revenue by segment
Broadway Financial · $25K total across 1 segment · Q4 2019
- Service Charges on Deposits$25K—100.0%
Forward guidance
The company is focused on serving low-to-moderate income communities within its target markets and is confident in its ability to execute its plans due to investments in its team and a strong base of equity capital.
Tailwinds
- The Company was able to return to profitability.
- Total interest income increased by 33%.
- Net interest income after provision for credit losses increased 14%.
- Total interest income has increased in each of the thirteen quarters since the merger of Broadway and CFBanc Corporation.
- Improving yields on interest-earning assets, which have increased by 160 basis points, or almost 52%, since the end of March 2022.
Headwinds
- Bottom-line performance has continued to suffer from the compression in our net interest margin.
- Performance was impacted by remediation steps undertaken to address identified weaknesses in controls over financial disclosures.
- Non-interest expense increased due to investments in people to enhance operational capabilities.
- Net interest margin decreased to 2.41% for the second quarter of 2024 from 2.52% for the second quarter of 2023.
- Total assets decreased by $8.1 million at June 30, 2024, compared to December 31, 2023.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2024
+1.0%
Avg return
Earnings day
+0.2%
Avg return
5 days after
-0.1%
Avg return
30 days after
34%
22 / 64 earnings
Positive
+128.2%
Q2 2012
Best reaction
-24.7%
Q3 2012
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.4% | — | — | |
| Q2 2025 | -1.1% | -1.8% | -2.2% | |
| Q1 2025 | +0.0% | -1.4% | +4.3% | |
| Q4 2024 | -1.5% | -3.4% | -7.8% | |
| Q3 2024 | +6.7% | +5.4% | +4.4% | |
| Q2 2024 | -7.1% | -6.0% | +32.8% | |
| Q1 2024 | -2.8% | -3.6% | +3.4% | |
| Q3 2023 | +8.4% | +7.3% | +13.5% | |
| Q4 2023 | +8.4% | +7.3% | +13.5% | |
| Q2 2023 | +0.0% | -1.0% | -11.8% | |
| Q1 2023 | +8.0% | +10.3% | +11.5% | |
| Q4 2022 | -0.8% | -1.5% | -15.2% | |
| Q3 2025 | -2.7% | -6.4% | -18.2% | |
| Q3 2022 | -1.7% | -4.3% | -16.5% | |
| Q2 2022 | +5.8% | +11.7% | +9.7% | |
| Q1 2022 | -4.8% | -2.7% | +6.8% | |
| Q4 2021 | -3.3% | +0.7% | +1.3% | |
| Q3 2021 | +0.7% | -4.0% | -5.8% | |
| Q2 2021 | -8.7% | -8.1% | +15.0% | |
| Q1 2021 | -9.5% | -12.4% | +24.3% | |
| Q4 2020 | +4.0% | +9.5% | +15.4% | |
| Q3 2020 | -1.7% | -6.2% | -1.1% | |
| Q2 2020 | +4.3% | +1.1% | -9.8% | |
| Q1 2020 | +4.4% | +0.0% | +0.7% | |
| Q4 2019 | -2.7% | -1.3% | -7.4% | |
| Q3 2019 | -9.6% | -1.8% | -7.8% | |
| Q2 2019 | -2.0% | -1.5% | -9.2% | |
| Q1 2019 | +4.7% | +5.5% | +5.5% | |
| Q4 2018 | +6.4% | +6.4% | -3.5% | |
| Q3 2018 | +10.7% | +13.9% | +3.3% | |
| Q2 2018 | +3.4% | -5.4% | -26.8% | |
| Q1 2018 | +0.0% | +0.5% | -5.5% | |
| Q4 2017 | +1.0% | +1.4% | +3.8% | |
| Q3 2017 | -5.7% | -6.5% | -15.4% | |
| Q2 2017 | -0.8% | +1.6% | -13.7% | |
| Q1 2017 | +1.1% | +6.8% | +13.0% | |
| Q4 2016 | +0.0% | +1.7% | +0.0% | |
| Q3 2016 | +0.0% | +0.0% | +0.0% | |
| Q2 2016 | -1.1% | -2.2% | -8.9% | |
| Q1 2016 | -0.5% | — | — | |
| Q4 2015 | -6.1% | — | — | |
| Q3 2015 | -3.7% | — | — | |
| Q2 2015 | -7.4% | — | — | |
| Q1 2015 | -5.3% | — | — | |
| Q4 2014 | +0.0% | — | — | |
| Q3 2014 | +0.7% | — | — | |
| Q2 2014 | -3.0% | — | — | |
| Q1 2014 | -0.8% | — | — | |
| Q4 2013 | +1.8% | — | — | |
| Q3 2013 | -4.0% | — | — | |
| Q2 2013 | +5.3% | — | — | |
| Q4 2012 | +8.4% | — | — | |
| Q1 2013 | +8.4% | — | — | |
| Q3 2012 | -24.7% | — | — | |
| Q2 2012 | +128.2% | — | — | |
| Q1 2011 | +0.0% | — | — | |
| Q1 2012 | -4.4% | — | — | |
| Q4 2010 | -4.4% | — | — | |
| Q4 2011 | +0.0% | — | — | |
| Q3 2011 | -15.6% | — | — | |
| Q3 2010 | -15.6% | — | — | |
| Q2 2011 | -2.5% | — | — | |
| Q2 2010 | -2.5% | — | — | |
| Q1 2010 | +0.0% | — | — |
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