"Our recently completed Recapitalization represents a major milestone in our overall plan to produce profitable growth for our investors. We are especially pleased that we were able to obtain investments from strong, new investors and the support of major, existing stockholders, which together will allow us to accelerate our efforts to improve operations and pursue growth, while continuing our mission of serving low-to-moderate income communities in Southern California."
— stated Wayne-Kent Bradshaw, Chief Executive Officer
by American Banking, January 28, 2014
Broadway Financial (BYFC) has confronted just about every problem a small bank can face, including credit woes, consent orders and erroneous financial statements.
By pulling off a difficult rescue, the Los Angeles company has shown its resiliency while proving that it is possible for a troubled bank to get creditors to agree to a complex restructuring — without resorting to bankruptcy. Read more...
Broadway Federal Bank is a community bank providing friendly and personal service. We're an equal opportunity employer with 59 full-time employees, three convenient branches, an administrative office and approximately $345.5 million in total assets as of June 30, 2013. Broadway Federal is a wholly owned subsidiary of Broadway Financial Corporation, a publicly traded company on the NASDAQ Small-Cap Market under the symbol "BYFC."
© 2014 Broadway Financial Corporation