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
Chinese conglomerate Dalian Wanda is in talks to buy Dick Clark Productions, as the company aims to expand in to the US entertainment industry. According to reports, Dalian Wanda Group has started preliminary talks to buy Dick Clark Productions for a price of about $1 billion. Dick Clark Productions... Mortgage applications in the U.S. dropped 0.7 percent from last week. According to data from the Mortgage Bankers Association, market composite index, a measure of mortgage loan application volume, declined 0.7 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis,... LendUp, an online lending startup, had to pay $6.3 million in fine for charging illegal fees and miscalculating higher interest rates. LendUp, which was earlier known as Flurish Inc., is supported by Google's venture capital arm GV and other venture capital firms in Silicon Valley. The California...
comments powered by Disqus
Follow RTT