Revenue during the quarter surged 36.25 percent to $4.79 million from $3.51 million in the previous year period. Net interest income for the quarter rose 15.28 percent over the prior year period to $3.08 million. Non-interest income for the quarter rose 150.28 percent over the last year period to $1.36 million.

Broadway Financial Corporation has made negative provision of $0.35 million for loan losses during the quarter, compared with a negative provision of $0.30 million in the same period last year.

Net interest margin improved 9 basis points to 2.88 percent in the quarter from 2.79 percent in the last year period.

Chief executive officer, Wayne Bradshaw commented, "I am pleased to announce Broadway's results for the first quarter, which demonstrate the strength of our franchise, and validate the Bank's strategy of focusing on originating loans secured by well-managed, multi-family, residential properties located within low-to-moderate income communities within Southern California. During the quarter, we originated over $50 million in new multi-family loans, grew assets and interest income, improved net interest margin, and maintained asset quality and strong capital ratios."

Return on average assets moved up 47 basis points to 1.12 percent in the quarter from 0.65 percent in the last year period. At the same time, return on average equity increased 536 basis points to 10.81 percent in the quarter from 5.45 percent in the last year period.

Nonperforming assets stood at $4.16 million as on Mar. 31, 2017. Meanwhile, nonperforming assets to total assets was 0.92 percent in the quarter.

Equity to assets ratio was 10.32 percent for the quarter. Book value per share was $1.71 for the quarter.