百老汇金融 2025年季度报告

For the quarterly period endedMarch 31, 2025TRANSITION REPORTPURSUANT TOSECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 BROADWAY FINANCIAL CORPORATION and (2) has been subject to such filing requirements for the past 90 days.Yes☒No☐Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files).Yes☒No☐ Consolidated Statements of Operations and Comprehensive Income (Loss) for the three months endedMarch 31, 2025 and 2024 Single-family$23,056$Multi-family627,303Commercial real estate161,0569,286Construction84,076Commercial – other72,1071,127 Gross loans receivable before deferred loan costs and premiums978,136Unamortized net deferred loan costs and premiums2,114Gross loans receivable980,250Credit and interest marks on purchased loans, net(245)Allowance for credit losses(8,774) commitments at the time of origination or acquisition. The recognition of losses at origination or acquisition represents the Company’sbest estimate of the lifetime expected credit loss associated with a loan given the facts and circumstances associated with the particularloan, and involves the use of significant management judgment and estimates, which are subject to change based on management’s on-going assessment of the credit quality of the loan portfolio and changes in economic forecasts used in the model. The Company usesthe WARM method when determining estimates for the ACL for each of its portfolio segments. The weighted average remaining life,including the effect of estimated prepayments, is calculated for each loan pool on a quarterly basis. The Company then estimates a lossrate for each pool using both its own historical loss experience and the historical losses of a group of peer institutions during the period conditions; (iii) changes in the nature and volume of the portfolio and terms of loans; (iv) changes in the experience, depth, and abilityof lending management; (v) changes in the volume and severity of past due loans and other similar conditions; (vi) changes in thequality of the organization’s loan review system; (vii) changes in the value of underlying collateral for collateral dependent loans; (viii) the existence and effect of any concentrations of credit and changes in the levels of such concentrations; and (ix) the effect of other external factors (i.e., competition, legal and regulatory requirements) on the level of estimated credit losses. These qualitativefactors incorporate the concept of reasonable and supportable forecasts, as required by ASC 326.The following tables summarize the activity in the allowance for credit losses on loans for the periods indicated: Single-familyMulti-family Commercial real estate1,09472Construction932 appropriate lifetime ACL. The Company uses the remaining life approach, using the loan’s effective interest rate, for determining theACL on individually evaluated loans, unless the loan is deemed collateral dependent, which requires evaluation based on the estimated The following table presents collateral dependent loans by collateral type as of the date indicated:March 31, 2025 Single-FamilyFamilyResidentialChurchBusinessAssetsTotal(In thousands)Commercial - other$–$–$–$262$SBA Loans–––338 December 31, 2024Multi- FamilyResidentialChurchAssetsTotal(In thousands)SBA Loans–––264$–$–$–$264$ underlying collateral andone$522thousand loan was individually evaluated using the remaining life approach. These loans had anassociated ACL of $720thousand as of March 31, 2025. The Company hadthreeindividually evaluated loans totaling $860thousandon nonaccrual status at March 31, 2025.At December 31, 2024,one$264thousand individually evaluated loan was evaluated based on the estimated fair value of the Greaterthan90 Days (In thousands)Loans receivable held forinvestment: There werenoloans 90 days or more delinquent that were accruing interest as of March 31, 2025 or December 31, 2024.10 through individual evaluation. The table below shows loan modifications during the quarter.The following table presents the amortized costs basis as of March 31, 2025 and the financial effect of loans modified toborrowers experiencing financial difficulty during the quarter ended March 31, 2025.There werenoloan modifications to borrowers rated loans are generally well protected by the current net worth and paying capacity of the obligor and/or by the value of theunderlying collateral.Pass rated loans are not more than 59 days past due and are generally performing in accordance with the loan 20252024202320222021PriorRevolvingLoans(In thousands)Single-family: Balance at the end of the period$25,858$March 31, 2024GoodwillDepositIntangible(In thousands)Balance at the beginning of the period$25,858$ accounted for as collateralized financing agre