Broadway Financial Corporation announced in November that it received $9 million under the Treasury Department’s Capital Purchase Program. Broadway operates in Los Angeles through its wholly owned subsidiary, Broadway Federal Bank. Broadway concentrates on serving the African American and Hispanic communities in southern Los Angeles. The bank reported a 115% increase in net earnings in the third quarter of 2008. With only five branches, Broadway is one of the smaller banks to receive federal support.
Financial Documents | Federal contracts | Lobbying reports
Political Contributions | Related Articles | Bank Bio Chart
No federal contracts found
Center for Responsive Politics (Last Accessed 11/20/08).
November 18, 2008 Treasury takes stakes in 21 more banks (LA Times)
November 14, 2008 Broadway Financial Corporation Receives $9 Million Investment from U.S. Treasury (Market Watch)
November 4, 2008 Broadway Financial Corporation Reports 115% Increase in Third Quarter Net Earnings (NY Times)
Bailout Bank Bio: Broadway Financial
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Federal Equity Investment |
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Total Revenue |
$22.5 million (2007) |
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Net Income |
$1.45 million (2007) |
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Number of Employees |
73 |
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Corporate Headquarters |
Los Angeles, California |
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Business Sector |
Banking |
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Officers and Directors |
Paul C. Hudson - Chairman of the Board, Chief Executive Officer |
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Corporate Website |
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Executive Compensation |
Last Updated November 20, 2008
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