Broadway Federal Bank

Broadway Federal Savings and Loan Association was founded in 1946 by a group of civic minded men and women who had identified the need for conventional loans to minority consumers who were ignored by all of the existing financial institutions. Loans, if available at all, carried high interest rates and few if any jobs were to be had by returning veterans and other minorities. Broadway continues to fulfill the mission of providing conventional loans and in providing training for minorities desirous of entering the industry

The bank manages more than 13,000 accounts with over 87 employees. Total assets are $438.7 million and the Bank capital is $33.2 million. Management estimates that over 75% of Broadway’s loans are on properties located within the South Central and Mid-City areas of Los Angeles. Residential loans comprise more than 45% of the Bank’s loan portfolio. Commercial loans make up 46%, with more than half of the commercial loan portfolio being loans to churches within our community.

Broadway Financial Corporation is the parent holding company of Broadway Federal Bank. Broadway Financial is a publicly traded stock company whose common stock is traded on the NASDAQ over the counter market.