Broadway Financial Corporation Announces Compliance Regarding Filing of Form 10-Q

Rhea-AI Summary

Broadway Financial (NASDAQ: BYFC), the parent company of City First Bank, announced it has regained compliance with Nasdaq Listing Rule 5250(c)(1). This compliance pertains to the timely filing of the Form 10-Q for the period ending March 31, 2024. The compliance status was confirmed by Nasdaq in a letter dated May 30, 2024, following the company's filing on May 24, 2024. The matter is now considered closed.

Positive

• Regained compliance with Nasdaq Listing Rule 5250(c)(1).
• Timely filing of Form 10-Q for the period ending March 31, 2024.
• Nasdaq confirmed compliance and closed the matter.

Negative

• Previous non-compliance with Nasdaq Listing Rule 5250(c)(1).

LOS ANGELES--(BUSINESS WIRE)-- Broadway Financial Corporation (“Broadway,” “we”, or the “Company”) (NASDAQ: BYFC), parent company of City First Bank, National Association, announced today it received a letter from Nasdaq, Inc., dated May 30, 2024, informing the Company that it had regained compliance with Nasdaq Listing Rule 5250(c)(1) with respect to the Form 10-Q for the period ended March 31, 2024 based on the Company’s filing on May 24, 2024. The letter noted that the matter is now closed.

About Broadway Financial Corporation

Broadway Financial Corporation conducts its operations through its wholly-owned banking subsidiary, City First Bank, National Association, which is a leading community-oriented bank in Southern California and in the Washington, D.C. market serving low-to-moderate income communities. We offer a variety of residential and commercial real estate loan products for consumers, businesses, and non-profit organizations, other loan products, and a variety of deposit products, including checking, savings, and money market accounts, certificates of deposits, and retirement accounts.

Stockholders, analysts, and others seeking information about the Company are invited to write to: Broadway Financial Corporation, Investor Relations, 4601 Wilshire Boulevard, Suite 150, Los Angeles, CA 90010 or contact Investor Relations at the phone number or email address below.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240606447691/en/

Investor Relations

Zack Ibrahim, Chief Financial Officer, (323) 556-3264

Investor.relations@cityfirstbroadway.com

Source: Broadway Financial Corporation

FAQ

What did Broadway Financial announce?

Broadway Financial announced it regained compliance with Nasdaq Listing Rule 5250(c)(1).

What is Nasdaq Listing Rule 5250(c)(1)?

Nasdaq Listing Rule 5250(c)(1) requires timely filing of periodic financial reports.

When did Broadway Financial file the Form 10-Q?

Broadway Financial filed the Form 10-Q on May 24, 2024.

What period does the Form 10-Q cover?

The Form 10-Q covers the period ending March 31, 2024.

When did Nasdaq confirm Broadway Financial 's compliance?

Nasdaq confirmed the compliance in a letter dated May 30, 2024.

What is the stock symbol for Broadway Financial ?

The stock symbol for Broadway Financial is BYFC.