Commercial Credit Report for Broadway Federal Bank, F.S.B.

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Broadway Federal Bank, F.S.B.

5055 Wilshire Blvd.

Suite 100

Phone: (323) 931-1886p:323 931-1886

Los Angeles, CA 90036 United States

On August 15, 2012, management of Broadway Financial Corporation (the "Company") concluded that the consolidated financial statements of the Company and its wholly owned subsidiary, Broadway Federal Bank, f.s.b. (the "Bank"), for the year ended December 31, 2011 and the related discussion of results of operations and financial condition included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011, should be restated and should no longer be relied on because its fourth quarter 2011 results did not include the impact of updated valuations of the collateral of certain collateral dependent impaired loans based on appraisals received after the end of the year but stating appraised values as of dates prior to the date (March 30, 2012) the financial statements were issued. The 2011 financial statements also included errors in the calculation of the impairment for certain impaired loans considered to be troubled debt restructurings caused by the use of the original contract rate in the calculation. Management also concluded that the Company’s previously issued earnings release summarizing the Company’s financial results for the first quarter of 2012, including the summary financial statements, should be revised and should no longer be relied upon because it did not include the effects of a substantial increase in general valuation allowances required by the Office of the Comptroller of the Currency (the “OCC”) during the most recent OCC supervisory examination, which ended July 27, 2012. The OCC commenced its most recent supervisory examination of the Company and the Bank on July 9, 2012. While the Company has not yet received the final written report of that examination, the OCC has informed the Company and the Bank that the OCC will require the Bank to increase the amount of its allowance for loan losses as of March 31, 2012 by a substantial amount.

This is a Subsidiary, click here for the Parent Company

Scores and Ratings

FRISK^® Score	Z'' Score	PAYCE^® Score	DBT Index	Moody's Rating	Fitch Rating	DBRS Rating
-	-	-	-	-	-	-

Financials, News and Filings

Latest Statement	Last Audit	News	SEC Filings	Bankruptcy Filings	Suit & Judgment Filings	Tax Lien Filings
3/31/2021	-	Yes	-	-	-	-

Industries

SIC Code	Description
6030	Savings institutions

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