Broadway Financial Corporation BYFC

Company Overview

Broadway Financial Corporation (formerly Nasdaq: BYFC) was a bank holding company historically associated with Broadway Federal Bank, a community-focused financial institution headquartered in Los Angeles, California. The company primarily operated in the banking and financial services industry, with a focus on commercial real estate lending, multifamily housing finance, small business banking, and community development lending. Its customer base historically included underserved urban communities, minority-owned businesses, nonprofit organizations, religious institutions, and low-to-moderate income neighborhoods, particularly within Southern California.

The company evolved from a locally focused thrift institution into a mission-driven banking platform emphasizing community reinvestment and economic inclusion. A major strategic turning point occurred through the merger between Broadway Financial Corporation and CF Banc Corporation, the parent company of City First Bank, which combined two minority-led community banking organizations. Following the transaction, the combined banking platform operated under the City First brand structure and expanded its focus on impact-oriented banking, affordable housing finance, and community development initiatives. Public filings and industry reporting indicate the company positioned itself as one of the larger Black-led Minority Depository Institutions in the United States.