Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Broadway Financial Slips To Loss In Q4

Broadway Financial Corp. (BYFC: Quote) 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.

Click here to receive FREE breaking news email alerts for Broadway Financial Corp and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
A ban on athletes using stamina-boosting gases - xenon and argon - came into effect on Monday. The World Anti-Doping Agency (WADA) said Hypoxia-Inducible Factor (HIF) activators Xenon and Argon have been added to the 2014 List of Prohibited Substances and Methods List following the required three-month notice period and UNESCO's communication to all States Parties. A recommendation to revise the British manufacturing growth eased further in August to its lowest level in 14 months as output and demand increased at slower rates, survey results from Markit Economics showed Monday. The Markit/CIPS Purchasing Managers' Index dropped to 52.5 from a revised 54.8 in July. Economists had expected the score to fall to 55.1 from July's original figure of 55.4. Consumers spent less in July than in the previous month, a surprise retreat that complicates the prevailing belief that the U.S. economic situation is improving. Along with the unexpected drop in spending, government figures released on Friday showed that incomes rose at a slower pace in July than in the previous month. Meanwhile, data on prices indicated that inflation pressures remain tame.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.