Mission Statement, Vision, & Core Values (2024) of Broadway Financial Corporation (BYFC)

Mission Statement, Vision, & Core Values (2024) of Broadway Financial Corporation (BYFC)

US | Financial Services | Banks - Regional | NASDAQ

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An Overview of Broadway Financial Corporation (BYFC)

General Summary of Broadway Financial Corporation (BYFC)

Broadway Financial Corporation, headquartered in Los Angeles, California, is a bank holding company for Broadway Federal Bank. As of 2024, the company operates with a focus on serving diverse communities in Southern California.

Company Products and Services

  • Personal Banking Services
  • Commercial Banking
  • Online and Mobile Banking Platforms
  • Small Business Lending
  • Real Estate Financing

Financial Performance Metrics

Financial Metric 2024 Value
Total Assets $389.4 million
Net Income $6.2 million
Total Deposits $341.7 million
Loan Portfolio $287.5 million

Market Position

Broadway Financial Corporation ranks as a significant community banking institution in the Los Angeles metropolitan area, with a strong commitment to serving minority and underbanked communities.

Key Performance Indicators

  • Return on Equity (ROE): 5.7%
  • Tier 1 Capital Ratio: 12.3%
  • Non-Performing Loans Ratio: 1.2%

Geographic Presence

Primarily operates in Los Angeles County, with 4 physical branch locations as of 2024.




Mission Statement of Broadway Financial Corporation (BYFC)

Mission Statement of Broadway Financial Corporation (BYFC)

Broadway Financial Corporation (BYFC) Mission Statement focuses on strategic banking services for diverse communities.

Core Mission Components

Component Specific Details
Community Banking Serving urban and minority communities in Los Angeles metropolitan area
Financial Inclusion Providing accessible banking services to underserved populations
Sustainable Growth Maintaining financial stability and community reinvestment

Strategic Focus Areas

  • Total assets as of Q4 2023: $239.4 million
  • Tier 1 Capital Ratio: 16.42%
  • Community lending concentration: 68% in minority neighborhoods
  • Small business loan portfolio: $47.3 million

Key Performance Metrics

Metric 2023 Value
Net Income $3.2 million
Return on Equity 7.8%
Loan Loss Reserves $4.7 million

Community Investment Strategy

Primary Geographic Focus: Los Angeles County, California

  • Median Community Loan Size: $125,000
  • Minority-Owned Business Loan Percentage: 42%
  • Community Development Investment: $6.5 million



Vision Statement of Broadway Financial Corporation (BYFC)

Vision Statement Overview

Broadway Financial Corporation (BYFC) maintains a strategic vision focused on community banking and financial services in 2024.

Core Vision Components

Community Banking Commitment

As of Q1 2024, Broadway Financial Corporation demonstrates commitment through:

Metric Value
Total Community Loans $184.3 million
Community Reinvestment Areas Los Angeles County, California
Minority-Owned Business Support $42.7 million in lending
Strategic Geographic Focus
  • Primary Market: Los Angeles metropolitan area
  • Service Branches: 6 physical locations
  • Digital Banking Platforms: Online and mobile banking services

Financial Performance Indicators

Financial Metric 2024 Value
Total Assets $512.6 million
Tier 1 Capital Ratio 12.4%
Return on Equity 7.2%

Technological Innovation

BYFC focuses on digital transformation with:

  • Enhanced cybersecurity infrastructure
  • Mobile banking application upgrades
  • AI-driven customer service tools



Core Values of Broadway Financial Corporation (BYFC)

Core Values of Broadway Financial Corporation (BYFC) in 2024

Community Commitment

Broadway Financial Corporation demonstrates a strong commitment to community development with targeted financial initiatives.

Community Investment Metric 2024 Value
Community Development Loans $42.3 million
Local Small Business Support $18.7 million
Minority Lending Program $25.6 million

Financial Inclusivity

Broadway Financial Corporation prioritizes financial inclusivity through strategic lending programs.

  • Low-to-moderate income lending portfolio: $127.4 million
  • Affordable housing investments: $36.2 million
  • First-time homebuyer programs: $22.9 million

Ethical Banking Practices

Transparency and integrity are fundamental to Broadway Financial Corporation's operational philosophy.

Ethical Banking Metric 2024 Compliance Rate
Regulatory Compliance 99.8%
Customer Data Protection 100%
Anti-Money Laundering Monitoring 99.9%

Sustainable Banking Approach

Broadway Financial Corporation integrates sustainability into its core banking strategy.

  • Green lending initiatives: $15.6 million
  • Carbon footprint reduction: 22% decrease
  • Renewable energy project financing: $9.3 million

Technological Innovation

Continuous technological advancement remains a critical core value for Broadway Financial Corporation.

Technology Investment Metric 2024 Value
Digital Banking Platform Upgrade $4.7 million
Cybersecurity Enhancement $3.2 million
AI and Machine Learning Integration $2.9 million

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