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
Shares of CRH plc were gaining around 3 percent in the early morning trading in London after the building materials group reported Thursday higher profit in its first half with improved sales. The company also announced its agreement to sell Americas Distribution business to Beacon Roofing Supply, Inc. for $2.63 billion in cash or about 2.2 billion euros. Private equity firm Blackstone Group LP is exploring options for a potential initial public offering of Gates Global LLC, Reuters reported, citing people familiar with the matter. As per the report, an IPO, which could occur as soon as 2018, could value Gates at more than $7 billion. Apple Inc. is working on a self-driving shuttle service to ferry employees within its sprawling campus, the New York Times reported. The move comes after the tech giant decided to abandon the idea of building an entire self-driving car by itself.
comments powered by Disqus
Follow RTT