UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 30, 2024

BROADWAY FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)

Delaware
001-39043
95-4547287
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)

4601 Wilshire Boulevard, Suite 150, Los Angeles, CA
  
90010
(Address of principal executive offices)
  
(Zip Code)

Registrant’s telephone number, including area code: (323) 634-1700

NOT APPLICABLE
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities registered pursuant to Section 12(b) of the Act:

Title of each class
  
Trading symbol(s)
  
Name of each exchange on
which registered
Class A Common Stock, par value $0.01 per share (including attached preferred stock purchase rights)
  
BYFC
  
Nasdaq Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company
 ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐

Item 7.01
Regulation FD Disclosure

On May 30, 2024, Broadway Financial Corporation (the “Company”), received a letter from The Nasdaq Stock Market LLC informing the Company that it had achieved 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.

A press release dated June 6, 2024, disclosing the Company’s receipt of the letter referenced above, is attached hereto as Exhibit 99.1.

The information furnished in this Item 7.01 of this Current Report on Form 8-K (including Exhibit 99.1 attached hereto) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01
 Financial Statements and Exhibits

(d)
Exhibits

Exhibit Number
Description
   
Press Release dated June 6, 2024
   
104
Cover Page Interactive Data File (formatted as Inline XBRL)
 
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

BROADWAY FINANCIAL CORPORATION
   
By:
/s/ Zack Ibrahim
 
Zack Ibrahim
 
Executive Vice President and Chief Financial Officer
   
Date: June 6, 2024


Exhibit 99.1

News Release

FOR IMMEDIATE RELEASE

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

LOS ANGELES, CA – (BUSINESS WIRE) – June 6, 2024 – 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.

Contacts

Investor Relations
Zack Ibrahim, Chief Financial Officer, (323) 556-3264
Investor.relations@cityfirstbroadway.com


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Document and Entity Information
May 30, 2024
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Entity File Number 001-39043
Entity Registrant Name BROADWAY FINANCIAL CORPORATION
Entity Central Index Key 0001001171
Entity Incorporation, State or Country Code DE
Entity Tax Identification Number 95-4547287
Entity Address, Address Line One 4601 Wilshire Boulevard, Suite 150
Entity Address, City or Town Los Angeles
Entity Address, State or Province CA
Entity Address, Postal Zip Code 90010
City Area Code 323
Local Phone Number 634-1700
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Trading Symbol BYFC
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