logo
Share SHARE
FONT-SIZE Plus   Neg

Broadway Financial Slips To Loss In Q4

Broadway Financial Corp. (BYFC) Thursday, reported a net loss for the fourth quarter from a profit last year, due mainly to lower interest income.

For the fourth quarter, Broadway Financial's net loss was $132 thousand, compared to a profit of $237 thousand reported in the year-ago period. On a per-share basis, the loss for the quarter widened to $0.24 from $0.03 reported last year.

Net interest income increased to $3.85 million from $3.03 million last year. Net interest income before provision for loan losses was $4.0 million, down 19 percent from last year.

Non interest income was $219 thousand compared to $953 thousand for the fourth quarter of 2010. Last year's non-interest income included a $600 thousand gain related to a financial assistance award received in the fourth quarter of 2010 from the U.S. Department of the Treasury's Community Development Financial Institutions Fund and also a $114 thousand net gain on sales of loans.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Casino operator Las Vegas Sands Corp. (LVS), Monday said its second-quarter profit dropped from last year, hurt largely by continued challenging environment in the high-end gambling business in Macao, China. Earnings for the quarter fell short of Wall Street expectations, as did revenues. Second-quarter... Analog chip maker Texas Instruments Inc. (TXN), Monday reported a 12 percent jump in profit for the second quarter, driven largely by better cost control and higher revenues. Earnings for the quarter trumped analysts' expectations, as did revenues. The company also detailed a strong outlook for the third... UPS (UPS) has announced the expansion of its UPS Worldwide Express package service to reach 117 countries and territories. UPS, the world's largest package delivery services, delivers more packages internationally than any other carrier. Over 50 countries and territories have been added to the UPS...
comments powered by Disqus
Follow RTT