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
American Airlines Group Inc. (AAL) reported a profit for the first-quarter 2017 that declined 66.6 percent from last year, reflecting a 37.8 percent increase in consolidated fuel expense. But quarterly total operating revenues increased 2.0 percent. Both adjusted earnings per share and revenue for the quarter beat analysts' expectations. Automotive major Ford Motor Co. reported Thursday lower profit in its first quarter, while revenues increased from last year. Adjusted earnings per share and revenues topped market estimates. Looking ahead, for fiscal 2017, Ford continues to expect total company adjusted pre-tax profit to be about $9 billion.. Shares of Nokia Corp. were gaining around 6 percent in mid-morning trading in Finland after the network equipment maker reported Thursday narrower loss in its first quarter. The company also reiterated its fiscal 2017 outlook for total cost savings. CEO Rajeev Suri said, "Overall, given Nokia's performance in the first quarter, I am optimistic about the year ahead, even if cautiously so."
comments powered by Disqus
Follow RTT