Here are a few analogies for Broadway Financial (BYFC):

• It's like a very localized Bank of America, emphasizing community-based real estate loans.
• Think of it as a small, traditional Wells Fargo, deeply rooted in its local community.

• Deposit Accounts: The company offers various deposit accounts for individuals and businesses, including savings, checking, money market, and certificates of deposit.
• Loan Services: Broadway Financial provides a range of lending options, including mortgage loans for residential and commercial properties, commercial business loans, construction loans, and consumer loans.
• Investment Portfolio Management: The company invests in securities issued by federal government agencies, residential mortgage-backed securities, and other investments.

Broadway Financial (BYFC), as a bank operating through its subsidiary City First Bank, National Association, primarily serves a diverse base of individual and business customers rather than having a few major corporate customers in the traditional sense. Its customer base can be categorized as follows:

1. Individual Consumers: This category includes individuals who utilize the bank's personal banking services such as savings accounts, checking accounts, NOW accounts, money market accounts, and fixed-term certificates of deposit. It also includes individuals seeking single-family residential mortgage loans and consumer loans.
2. Commercial Businesses and Real Estate Investors: This category encompasses businesses requiring commercial business loans, construction loans, and commercial real estate financing. It also includes real estate investors and developers seeking mortgage loans for multi-family residential properties.
3. Non-Profit and Community Organizations: Broadway Financial serves organizations such as charter schools, community facilities, and churches that seek commercial real estate loans to support their operations and development.

Brian E. Argrett, Chairman of the Board, President and Chief Executive Officer

Mr. Argrett was appointed CEO in April 2021, and in April 2023, he also became Chairman of the Board of Broadway Financial Corporation and City First Bank, N.A.. He led the historic merger of City First and Broadway in April 2021, creating the largest Black-led minority depository institution. He previously served as President & CEO of City First Bank of DC since 2011. Mr. Argrett has extensive expertise in financing companies in underserved communities with both debt and equity, gained as a private equity investor and fund manager. He began his career as a Managing Partner at Fulcrum Capital Group, where he focused on private equity investments. He has also served as a presidential appointee to the U.S. Department of the Treasury's Community Development Advisory Board. Mr. Argrett holds a JD/MBA from the University of California, Berkeley, and a Bachelor's in Finance and Real Estate from the University of Virginia.

Zack Ibrahim, Executive Vice President and Chief Financial Officer

Mr. Ibrahim was appointed Executive Vice President and Chief Financial Officer, Principal Financial Officer, and Principal Accounting Officer of Broadway Financial Corporation and City First Bank, National Association, effective May 15, 2024. Before joining City First Broadway, he served as Executive Director, Head of Corporate Finance at Texas Capital Bancshares Inc. from April 2022 to March 2024, where he led an expense program and projects to scale the finance department. His prior experience includes serving as Senior Vice President, Senior Director of Finance at TIAA Bank from May 2019 to April 2022. Mr. Ibrahim's career spans over 20 years with experience at other large financial institutions such as Northern Trust Corporation, Regions Financial Corporation, and M&T Bank Corporation. He holds an M.B.A. with a concentration in Finance.

Elizabeth Sur, Executive Vice President, General Counsel, and Chief Risk Officer

Ms. Sur was appointed Executive Vice President, General Counsel, and Chief Risk Officer for both Broadway Financial Corporation and City First Bank, National Association, effective May 15, 2024.

John A. Allen, Chief Banking Officer

Mr. Allen was appointed Chief Banking Officer at City First Bank on January 13, 2025, a newly created leadership role. In this position, he is responsible for overseeing Commercial Sales and Banking, Credit Administration, Operations, and Retail. Mr. Allen brings over 30 years of experience in the financial services industry, and most recently served as Region President for Wells Fargo across the Washington, D.C. metropolitan area.

Elise Adams, Chief Accounting Officer and Senior Vice President

Ms. Adams was appointed Chief Accounting Officer and Senior Vice President, effective May 15, 2024. Prior to joining City First Broadway, she served as Chief Financial Officer and Controller with Insight Technology Solutions, LLC, and as Treasurer and Senior Vice President with Capital Bank N.A.. Her experience also includes roles as Chief Financial Officer and Executive Vice President with Old Line Bank. Ms. Adams possesses a Wharton Leadership Certificate and a diploma from the ABA Stonier Graduate School of Banking.

Here are the key risks to Broadway Financial (BYFC):

1. Interest Rate Risk and Unrealized Losses on Investment Portfolios: Broadway Financial faces significant risk from fluctuations in interest rates, which can lead to unrealized losses on its securities and loan portfolios. The bank holds a substantial portion of its assets, including mortgage-backed securities and loans, as held-to-maturity, which means unrealized losses are not reported in net income unless these assets need to be sold. However, if the company were to sell these assets to meet liquidity needs, these unrealized losses could become realized, impacting its financial condition. Although Broadway Financial has a high percentage of adjustable-rate loans, many of these loans behave like fixed-rate loans for initial periods or due to interest rate floors, which limits the immediate benefit from rising rates.
2. Credit Risk and Loan Quality: As a bank with a primary business in originating mortgage loans and commercial real estate loans, Broadway Financial is exposed to credit risk. While the company has reported an appropriate level of bad loans, there have been concerns regarding an insufficient allowance for bad loans. Historically, the company experienced substantial losses from loan allocation policies during the Great Financial Crisis. Ongoing high interest rates can also increase credit risk by inhibiting the refinancing of commercial real estate loans and weakening property-level cash flows, which could lead to increased loan default rates.
3. Regulatory and Compliance Risks: Broadway Financial has faced challenges with regulatory compliance, specifically receiving non-compliance notices from Nasdaq due to delays in filing its quarterly reports (Form 10-Q). These delays have been attributed to the need for additional time to assess the value of certain agreements and finalize fair value measurements, as well as weaknesses in internal control over financial reporting (ICFR) stemming from training shortfalls. While the company has subsequently regained compliance for previous delays, the recurrence of such issues highlights an ongoing risk related to maintaining effective internal controls and meeting timely SEC filing requirements.

• The rise of digital-first banks (neobanks) and financial technology (fintech) companies offering competitive deposit accounts and payment services with superior digital experiences, often lower fees, and greater convenience, which directly attracts customers away from traditional, branch-based institutions.
• The increasing prevalence of non-bank online lending platforms that provide loans for residential properties, commercial real estate, and businesses, directly competing with traditional bank lending activities by leveraging technology for faster approvals, streamlined processes, and specialized offerings.

Addressable Markets for Broadway Financial's Main Products and Services (U.S. Region)

Broadway Financial Corporation (BYFC) operates in the United States, offering a range of banking products and services. The addressable markets for its main offerings in the U.S. are substantial:

Mortgage Loans

• The total U.S. home mortgage market was valued at approximately USD 180.91 billion in 2023 and is projected to reach around USD 501.67 billion by 2032.
• Total outstanding household mortgage debt, including home equity loans, amounted to $13.17 trillion at the end of December 2025.
• Single-family mortgage originations in the U.S. rose to $246 billion in Q1 2025, up 19% year-over-year from Q1 2024.

Commercial Real Estate (CRE) Lending

• Total commercial real estate mortgage borrowing and lending in the U.S. was estimated at $498 billion in 2024.
• The U.S. CRE mortgage market for income-producing properties is roughly $4.5 trillion, with an additional $467 billion in construction loans, as of March 2023.
• Regional and community banks collectively hold 31.5% of all CRE mortgages in the U.S.

Commercial Business Loans

• The U.S. commercial lending market can be approximated at around USD 2,399.44 billion in 2025.
• Globally, the commercial lending market size was valued at USD 10.68 trillion in 2024 and is projected to grow to USD 25.39 trillion by 2033.

Consumer Loans

• The broader consumer lending market in the U.S. is a significant sector with a market size of $27 trillion and is growing.
• Total non-mortgage consumer debt in the U.S. amounted to $4.66 trillion as of April 2023.
• More specifically, as of December 2025, U.S. consumer loan segments included $1.28 trillion in credit card balances, $1.66 trillion in auto loan balances, $1.66 trillion in student loan balances, and $564 billion in other balances (such as retail cards and consumer finance loans).

Deposit Accounts

• Total deposits across all commercial banks in the United States reached over $18.5 trillion in October 2025.
• More recently, U.S. Total Deposits was reported at 18,665.081 billion USD in January 2026.

Share Repurchases

• Broadway Financial Corporation repurchased 1,958,173 shares of its Class A Common Stock from the Federal Deposit Insurance Corporation (FDIC) in October 2023.
• This repurchase represented just under 4.0% of the Company's total voting shares before the transaction and over 2.6% of its total common equity.
• The purchase was financed using cash on hand, and the acquired shares were subsequently retired.

Share Issuance

• Following its merger with CFBanc Corporation on April 1, 2021, Broadway Financial completed private placements of 18,474,000 shares of common stock.
• These private placements generated gross proceeds of $32.9 million.
• The shares were sold at an offering price of $1.78 per share, significantly boosting Broadway's total equity capitalization.

Inbound Investments

• In 2021, Broadway Financial received $32.9 million in gross proceeds from private placements of common stock to institutional and accredited investors.
• Investors participating in these private placements included Ally Financial Inc., Banner Bank, Citicorp Banking Corporation (an affiliate of Citigroup Inc.), First Republic Bank, clients and affiliates of Grace & White, Inc., J.P. Morgan Chase, and Texas Capital Community Development Corporation (an affiliate of Texas Capital Bancshares, Inc.).

Outbound Investments

• No significant outbound investments in other companies by Broadway Financial Corporation were identified within the last 3-5 years.

Capital Expenditures

• Specific dollar values for capital expenditures and their primary focus for Broadway Financial Corporation over the last 3-5 years were not explicitly detailed in the available information.