Broadway Financial (BYFC) 10-Q 16 May 23 2023 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2023	May 09, 2023
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Document Transition Report	false
Entity File Number	001-39043
Entity Registrant Name	BROADWAY FINANCIAL CORPORATION
Entity Central Index Key	0001001171
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-4547287
Entity Address, Address Line One	4601 Wilshire Boulevard, Suite 150
Entity Address, City or Town	Los Angeles
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90010
City Area Code	323
Local Phone Number	634-1700
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	BYFC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Class A Voting Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		48,710,335
Class B Non-Voting Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		11,404,618
Class C Non-Voting Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		13,380,516

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Assets:
Cash and due from banks	$ 8,432	$ 7,459
Interest-bearing deposits in other banks	21,216	8,646
Cash and cash equivalents	29,648	16,105
Securities available-for-sale, at fair value	329,026	328,749
Loans receivable held for investment, net of allowance of $6,285 and $4,388	776,053	768,046
Accrued interest receivable	4,219	3,973
Federal Home Loan Bank (FHLB) stock	7,300	5,535
Federal Reserve Bank (FRB) stock	3,543	5,264
Office properties and equipment, net	10,122	10,291
Bank owned life insurance	3,242	3,233
Deferred tax assets, net	10,823	11,872
Core deposit intangible, net	2,403	2,501
Goodwill	25,858	25,858
Other assets	2,824	2,866
Total assets	1,205,061	1,184,293
Liabilities:
Deposits	657,542	686,916
Securities sold under agreements to repurchase	70,941	63,471
FHLB advances	168,810	128,344
Notes payable	14,000	14,000
Accrued expenses and other liabilities	13,900	11,910
Total liabilities	925,193	904,641
Additional paid-in capital	143,621	143,491
Retained earnings	9,611	9,294
Unearned Employee Stock Ownership Plan (ESOP) shares	(3,963)	(1,265)
Accumulated other comprehensive loss, net of tax	(15,028)	(17,473)
Treasury stock-at cost, 2,617,826 shares at March 31, 2023 and at December 31, 2022	(5,326)	(5,326)
Total Broadway Financial Corporation and Subsidiary stockholders' equity	279,676	279,482
Non-controlling interest	192	170
Total liabilities and stockholders' equity	1,205,061	1,184,293
Non-Cumulative Redeemable Perpetual Preferred Stock, Series C [Member]
Liabilities:
Preferred stock	150,000	150,000
Class A Voting Common Stock [Member]
Liabilities:
Common stock	513	513
Class B Non-Voting Common Stock [Member]
Liabilities:
Common stock	114	114
Class C Non-Voting Common Stock [Member]
Liabilities:
Common stock	$ 134	$ 134

Consolidated Statements of Fi_2

Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands		Mar. 31, 2023	Dec. 31, 2022
Assets [Abstract]
Allowance for loan losses	[1]	$ 6,285	$ 4,388
Stockholders' Equity:
Treasury stock, shares (in shares)		2,617,826	2,617,826
Non-Cumulative Redeemable Perpetual Preferred Stock, Series C [Member]
Stockholders' Equity:
Preferred stock, shares authorized (in shares)		150,000	150,000
Preferred stock, shares issued (in shares)		150,000	150,000
Preferred stock, shares outstanding (in shares)		150,000	150,000
Preferred stock, liquidation value (in dollars per share)		$ 1,000	$ 1,000
Class A Voting Common Stock [Member]
Stockholders' Equity:
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Common stock, shares authorized (in shares)		75,000,000	75,000,000
Common stock, shares issued (in shares)		51,335,981	51,265,209
Common stock, shares outstanding (in shares)		48,718,155	48,647,383
Class B Non-Voting Common Stock [Member]
Stockholders' Equity:
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Common stock, shares authorized (in shares)		15,000,000	15,000,000
Common stock, shares issued (in shares)		11,404,618	11,404,618
Common stock, shares outstanding (in shares)		11,404,618	11,404,618
Class C Non-Voting Common Stock [Member]
Stockholders' Equity:
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Common stock, shares authorized (in shares)		25,000,000	25,000,000
Common stock, shares issued (in shares)		13,380,516	13,380,516
Common stock, shares outstanding (in shares)		13,380,516	13,380,516
[1]The allowance for credit losses as of December 31, 2022 was accounted for under ASC 450 and ASC 310, which is reflective of probable incurred losses as of the date of the consolidated statement of financial condition. Effective January 1, 2023, the allowance for credit losses is accounted for under ASC 326, which is reflective of estimated expected lifetime credit losses.

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive income (loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Interest income:
Interest and fees on loans receivable	$ 8,666	$ 7,336
Interest on available-for-sale securities	2,180	591
Other interest income	328	84
Total interest income	11,174	8,011
Interest expense:
Interest on deposits	1,303	350
Interest on borrowings	1,597	489
Total interest expense	2,900	839
Net interest income	8,274	7,172
Provision for credit losses	88	148
Net interest income after provision for credit losses	8,186	7,024
Non-interest income:
Service charges	61	64
Other	228	217
Total non-interest income	289	281
Non-interest expense:
Compensation and benefits	3,749	3,619
Occupancy expense	303	442
Information services	715	865
Professional services	505	364
Supervisory costs	94	157
Office services and supplies	22	61
Advertising and promotional expense	68	50
Corporate insurance	62	53
Appraisal and other loan expense	43	30
Amortization of core deposit intangible	98	109
Travel expense	78	27
Other	469	183
Total non-interest expense	6,206	5,960
Income before income taxes	2,269	1,345
Income tax expense	674	363
Net income	1,595	982
Less: Net income attributable to non-controlling interest	22	24
Net income attributable to Broadway Financial Corporation	1,573	958
Other comprehensive income, net of tax:
Unrealized gains (losses) on securities available-for-sale arising during the period	3,433	(8,154)
Income tax expense (benefit)	988	(2,307)
Other comprehensive income (loss), net of tax	2,445	(5,847)
Comprehensive income (loss)	$ 4,018	$ (4,889)
Earnings per common share-basic (in dollars per share)	$ 0.02	$ 0.01
Earnings per common share-diluted (in dollars per share)	$ 0.02	$ 0.01

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net income	$ 1,595	$ 982
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for credit losses	88	148
Depreciation	172	30
Net change of deferred loan origination costs	(223)	(148)
Net amortization of premiums & discounts on available-for-sale securities	(253)	118
Amortization of purchase accounting marks on loans	0	(465)
Amortization of core deposit intangible	98	109
Accretion of premium on FHLB advances	1	(11)
ESOP compensation expense	(202)	18
Earnings on bank owned life insurance	(9)	(10)
Change in assets and liabilities:
Net change in deferred taxes	569	234
Net change in accrued interest receivable	(246)	923
Net change in other assets	42	(3,524)
Net change in accrued expenses and other liabilities	2,035	(311)
Net cash provided by (used in) operating activities	3,801	(1,808)
Cash flows from investing activities:
Net change in loans receivable held for investment	(9,681)	(4,396)
Principal payments on available-for-sale securities	3,409	4,724
Purchase of available-for-sale securities	0	(26,908)
Purchase of FHLB stock	(1,765)	0
Proceeds from redemption of FHLB stock	0	351
Proceeds from redemption of FRB stock	1,721	0
Purchase of office properties and equipment	(3)	(67)
Net cash used in investing activities	(6,319)	(26,296)
Cash flows from financing activities:
Net change in deposits	(29,374)	51,662
Net change in securities sold under agreements to repurchase	7,470	4,043
Increase in unreleased ESOP shares	(2,500)	0
Dividends paid on preferred stock	0	(15)
Proceeds from FHLB advances	40,500	0
Repayments of FHLB advances	(35)	(13,000)
Net cash provided by financing activities	16,061	42,690
Net change in cash and cash equivalents	13,543	14,586
Cash and cash equivalents at beginning of the period	16,105	231,520
Cash and cash equivalents at end of the period	29,648	246,106
Supplemental disclosures of cash flow information:
Cash paid for interest	2,882	822
Cash paid for income taxes	0	0
Supplemental non-cash disclosures:
Common stock issued in exchange for preferred stock	0	3,000
Directors [Member]
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Stock-based compensation expense	96	84
Employees, Excluding Directors [Member]
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Stock-based compensation expense	$ 38	$ 15

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Preferred Stock [Member] Preferred Stock Non-Voting [Member]	Common Stock [Member] Common Stock Voting [Member]	Common Stock [Member] Common Stock Non-Voting [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive (Loss) [Member]	Retained Earnings [Member]	Unearned ESOP Shares [Member]	Treasury Stock [Member]	Non-Controlling Interest [Member]	Total	Cumulative Effect, Period of Adoption, Adjustment [Member] Preferred Stock [Member] Preferred Stock Non-Voting [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Common Stock [Member] Common Stock Voting [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Common Stock [Member] Common Stock Non-Voting [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Accumulated Other Comprehensive (Loss) [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Unearned ESOP Shares [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Treasury Stock [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Non-Controlling Interest [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]
Balance at Dec. 31, 2021	$ 3,000	$ 463	$ 281	$ 140,289	$ (551)	$ 3,673	$ (829)	$ (5,326)	$ 100	$ 141,100
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	0	0	0	0	0	958	0	0	24	982
Conversion of preferred stock into common stock	(3,000)	12	0	2,988	0	0	0	0	0	0
Conversion of non-voting common shares into voting common shares	0	9	(9)	0	0	0	0	0	0	0
Release of unearned ESOP shares	0	0	0	2	0	0	16	0	0	18
Stock-based compensation expense	0	5	0	10	0	0	0	0	0	15
Dividends paid on preferred stock	0	0	0	0	0	(15)	0	0	0	(15)
Director stock compensation expense	0	0	0	84	0	0	0	0	0	84
Other comprehensive income (loss), net of tax	0	0	0	0	(5,847)	0	0	0	0	(5,847)
Balance at Mar. 31, 2022	0	489	272	143,373	(6,398)	4,616	(813)	(5,326)	124	136,337
Balance at Dec. 31, 2022	150,000	513	248	143,491	(17,473)	9,294	(1,265)	(5,326)	170	279,652
Balance (ASU 2016-13 [Member]) at Dec. 31, 2022	150,000	513	248	143,491	(17,473)	8,038	(1,265)	(5,326)	170	278,396	$ 0	$ 0	$ 0	$ 0	$ 0	$ (1,256)	$ 0	$ 0	$ 0	$ (1,256)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	0	0	0	0	0	1,573	0	0	22	1,595
Release of unearned ESOP shares	0	0	0	(4)	0	0	(198)	0	0	(202)
Increase in unreleased shares	0	0	0	0	0	0	(2,500)	0	0	(2,500)
Stock-based compensation expense	0	0	0	38	0	0	0	0	0	38
Director stock compensation expense	0	0	0	96	0	0	0	0	0	96
Other comprehensive income (loss), net of tax	0	0	0	0	2,445	0	0	0	0	2,445
Balance at Mar. 31, 2023	$ 150,000	$ 513	$ 248	$ 143,621	$ (15,028)	$ 9,611	$ (3,963)	$ (5,326)	$ 192	$ 279,868

Basis of Financial Statement Pr

Basis of Financial Statement Presentation	3 Months Ended
	Mar. 31, 2023
Basis of Financial Statement Presentation [Abstract]
Basis of Financial Statement Presentation	NOTE 1 – Basis of Financial Statement Presentation The accompanying unaudited consolidated financial statements include Broadway Financial Corporation (the “Company”) and its wholly owned subsidiary, City First Bank, National Association (the “Bank” and, together with the Company, “City First Broadway”). Also included in the unaudited consolidated financial statements are the following subsidiaries of City First Bank: 1432 U Street LLC, Broadway Service Corporation, City First Real Estate LLC, City First Real Estate II LLC, City First Real Estate III LLC, City First Real Estate IV LLC, and CF New Markets Advisors, LLC (“CFNMA”). In addition, CFNMA also consolidates CFC Fund Manager II, LLC; City First New Markets Fund II, LLC; City First Capital IX, LLC; and City First Capital 45, LLC (“CFC 45”) into its financial results. All significant intercompany balances and transactions have been eliminated in consolidation. The unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions for quarterly reports on Form 10-Q. These unaudited consolidated financial statements do not include all disclosures associated with the Company’s consolidated annual financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2022 (“2022 Form 10-K”) and, accordingly, should be read in conjunction with such audited consolidated financial statements. In the opinion of management, all adjustments (all of which are normal and recurring in nature) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. Subsequent events have been evaluated through the date these financial statements were issued. Except as discussed below, our accounting policies are described in Note 1 – Summary of Significant Accounting Policies of our audited consolidated financial statements included in the 2022 Form 10-K. Allowance for Credit Losses – Securities Effective January 1, 2023, the Company accounts for the allowance for credit losses (“ACL”) on securities in accordance with Accounting Standards Codification Topic 326 (“ASC 326”) – Financial Instruments-Credit Losses For available-for-sale investment securities, the Company performs a qualitative evaluation for those securities that are in an unrealized loss position to determine if the decline in fair value is credit related or non-credit related. In determining whether a security’s decline in fair value is credit related, the Company considers a number of factors including, but not limited to: (i) the extent to which the fair value of the investment is less than its amortized cost; (ii) the financial condition and near-term prospects of the issuer; (iii) any downgrades in credit ratings; (iv) the payment structure of the security, (v) the ability of the issuer of the security to make scheduled principal and interest payments, and (vi) general market conditions which reflect prospects for the economy as a whole, including interest rates and sector credit spreads. For investment securities where the Company has reason to believe the credit loss exposure is remote, a zero credit loss assumption is applied. Such investment securities typically consist of those guaranteed by the U.S. government or other government enterprises, where there is an explicit or implicit guarantee by the U.S. government, that are highly rated by rating agencies, and historically have had no credit loss experience. If it is determined that the unrealized loss, or a portion thereof, is credit related, the Company records the amount of credit loss through a charge to the provision for credit losses in current period earnings. However, the amount of credit loss recorded in current period earnings is limited to the amount of the total unrealized loss on the security, which is measured as the amount by which the security’s fair value is below its amortized cost. If the Company intends to sell a security that is in an unrealized loss position, or if it is more likely than not the Company will be required to sell a security in an unrealized loss position, the total amount of the unrealized loss is recognized in current period earnings through the provision for credit losses. Unrealized losses deemed non-credit related are recorded, net of tax, in accumulated other comprehensive income (loss). The Company’s assessment of available-for-sale investment securities as of March 31, 2023, indicated that an ACL was not required. The Company analyzed available-for-sale investment securities that were in an unrealized loss position and determined the decline in fair value for those securities was not related to credit, but rather related to changes in interest rates and general market conditions. As such, no ACL was recorded for available-for-sale securities as of March 31, 2023. Allowance for Credit Losses - Loans Effective January 1, 2023, the Company accounts for credit losses on loans in accordance with ASC 326, which requires the Company to record an estimate of expected lifetime credit losses for loans at the time of origination or acquisition. The ACL is maintained at a level deemed appropriate by management to provide for expected credit losses in the portfolio as of the date of the consolidated statements of financial condition. Estimating expected credit losses requires management to use relevant forward-looking information, including the use of reasonable and supportable forecasts. The measurement of the ACL is performed by collectively evaluating loans with similar risk characteristics. The Company measures the ACL for each of its loan segments using the weighted-average remaining maturity (“WARM”) method. The weighted average remaining life, including the effect of estimated prepayments, is calculated for each loan pool on a quarterly basis. The Company then estimates a loss rate for each pool using both its own historical loss experience and the historical losses of a group of peer institutions during the period from 2004 through the most recent quarter. The Company’s ACL model also includes adjustments for qualitative factors, where appropriate. Since historical information (such as historical net losses) may not always, by itself, provide a sufficient basis for determining future expected credit losses, the Company periodically considers the need for qualitative adjustments to the ACL. Qualitative adjustments may be related to and include, but not limited to factors such as: (i) changes in lending policies and procedures, including changes in underwriting standards and collections, charge offs, and recovery practices; (ii) changes in international, national, regional, and local conditions; (iii) changes in the nature and volume of the portfolio and terms of loans; (iv) changes in the experience, depth, and ability of lending management; (v) changes in the volume and severity of past due loans and other similar conditions; (vi) changes in the quality of the organization’s loan review system; (vii) changes in the value of underlying collateral for collateral dependent loans; (viii) the existence and effect of any concentrations of credit and changes in the levels of such concentrations; and (ix) the effect of other external factors (i.e., competition, legal and regulatory requirements) on the level of estimated credit losses. The Company has a credit portfolio review process designed to detect problem loans. Problem loans are typically those of a substandard or worse internal risk grade, and may consist of loans on nonaccrual status, loans that have recently been modified in response to a borrower’s deteriorating financial condition, loans where the likelihood of foreclosure on underlying collateral has increased, collateral dependent loans, and other loans where concern or doubt over the ultimate collectability of all contractual amounts due has become elevated. Such loans may, in the opinion of management, be deemed to no longer possess risk characteristics similar to other loans in the loan portfolio, because the specific attributes and risks associated with the loan have likely become unique as the credit quality of the loan deteriorates. As such, these loans may require individual evaluation to determine an appropriate ACL for the loan. When a loan is individually evaluated, the Company typically measures the expected credit loss for the loan based on a discounted cash flow approach, unless the loan has been deemed collateral dependent. Collateral dependent loans are loans where the repayment of the loan is expected to come from the operation of and/or eventual liquidation of the underlying collateral. The ACL for collateral dependent loans is determined using estimates of the fair value of the underlying collateral, less estimated selling costs. The estimation of the appropriate level of the ACL requires significant judgment by management. Although management uses the best information available to make these estimations, future adjustments to the ACL may be necessary due to economic, operating, regulatory, and other conditions that may extend beyond the Company’s control. Changes in management’s estimates of forecasted net losses could materially change the level of the ACL. Additionally, various regulatory agencies, as an integral part of their examination process, periodically review the Company’s ACL and credit review process. Such agencies may require the Company to recognize additions to the ACL based on judgments different from those of management. The Company has segmented the loan portfolio according to loans that share similar attributes and risk characteristics. Each segment possesses varying degrees of risk based on, among other things, the type of loan, the type of collateral, and the sensitivity of the borrower or industry to changes in external factors such as economic conditions. The Company determines the ACL for loans based on this more detailed loan segmentation and classification. These segments, and the risks associated with each segment, are as follows: Real Estate: Single Family – Subject to adverse employment conditions in the local economy leading to increased default rate, decreased market values from oversupply in a geographic area and incremental rate increases on adjustable-rate mortgages which may impact the ability of borrowers to maintain payments. Real Estate: Multi‑Family – Subject to adverse various market conditions that cause a decrease in market value or lease rates, changes in personal funding sources for tenants, oversupply of units in a specific region, population shifts and reputational risks. Real Estate: Commercial Real Estate – Subject to adverse conditions in the local economy which may lead to reduced cash flows due to vacancies and reduced rental rates, and decreases in the value of underlying collateral. Real Estate: Church – Subject to adverse economic and employment conditions, which may lead to reduced cash flows from members’ donations and offerings, and the stability, quality, and popularity of church leadership. Real Estate: Construction – Subject to adverse conditions in the local economy, which may lead to reduced demand for new commercial, multi‑family, or single family buildings or reduced lease or sale opportunities once the building is complete. Commercial and SBA Loans – Subject to industry and economic conditions including decreases in product demand. Consumer – Subject to adverse employment conditions in the local economy, which may lead to higher default rates. Modified Loans to Borrowers Experiencing Financial Difficulty In certain instances, the Company makes modifications to loans in order to alleviate temporary difficulties in the borrower’s financial condition and/or constraints on the borrower’s ability to repay the loan, and to minimize potential losses to the Company. Modifications may include: changes in the amortization terms of the loan, reductions in interest rates, acceptance of interest only payments, and reductions to the outstanding loan balance. Such loans are typically placed on nonaccrual status when there is doubt concerning the full repayment of principal and interest or the loan has been in default for a period of 90 days or more. Such loans may be returned to accrual status when all contractual amounts past due have been brought current, and the borrower’s performance under the modified terms of the loan agreement and the ultimate collectability of all contractual amounts due under the modified terms is no longer in doubt. The Company typically measures the ACL on these loans on an individual basis as the loans are deemed to no longer have risk characteristics that are similar to other loans in the portfolio. The determination of the ACL for these loans is based on a discounted cash flow approach, unless the loan is deemed collateral dependent, which requires measurement of the ACL based on the estimated expected fair value of the underlying collateral, less selling costs. Accounting Pronouncements Recently Adopted In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13 – Financial Instruments-Credit Losses (Topic 32 6): In April 2019, the FASB issued ASU 2019-04 – Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815-Derivatives and Hedging, and Topic 825-Financial Instruments In May 2019, the FASB issued ASU 2019-05 - Financial Instruments-Credit Losses (Topic 326): Targeted Transition Relief Financial Instruments-Credit Losses-Measured at Amortized Cost Financial Instruments Effective January 1, 2023, the Company adopted the provisions of ASC 326 through the application of the modified retrospective transition approach, and recorded a net decrease of $1.3 million to the beginning balance of retained earnings as of January 1, 2023 for the cumulative effect adjustment. The following table illustrates the impact of the adoption of the CECL model under ASC 326 on the Company’s consolidated statements of financial position as of January 1, 2023: Pre-CECL Adoption Impact of CECL Adoption As Reported Under CECL (In thousands) Assets: Allowance for credit losses on available-for-sale securities $ – $ – $ – Allowance for credit losses on loans 4,388 1,809 6,197 Deferred tax assets 11,872 508 12,380 Liabilities: Allowance for credit losses on off-balance sheet exposures 412 (45 ) 367 Stockholders’ equity: Retained earnings 9,294 (1,256 ) 8,038 The Company’s assessment of available-for-sale investment securities as of January 1, 2023 indicated that an ACL was not required. The Company analyzed available-for-sale investment securities that were in an unrealized loss position as of the date of adoption and determined the decline in fair value for those securities was not related to credit, but rather related to changes in interest rates and general market conditions. As such, no ACL was recorded for available-for-sale securities as of January 1, 2023. Upon the adoption of ASC 326, the Company did not reassess purchased loans with credit deterioration (previously classified as purchased credit impaired loans under ASC 310-30). In February 2019, the U.S. federal bank regulatory agencies approved a final rule modifying their regulatory capital rules and providing an option to phase in the adverse regulatory capital effects of the impact of adoption of ASC 326 over a three-year period. As a result, entities have the option to gradually phase in the full effect of CECL on regulatory capital over a three-year transition period. The Company implemented its CECL model commencing January 1, 2023 and elected to phase in the full effect of CECL on regulatory capital over the three-year transition period. In March 2022, the FASB issued ASU 2022-02 – Financial Instruments-Credit Losses (Topic 326) Troubled Debt Restructurings and Vintage Disclosures Receivables-Troubled Debt Restructurings by Creditors Accounting Pronouncements Yet to Be Adopted In March 2023, the FASB issued ASU 2023-02 – Investments-Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method, a Consensus of the Emerging Issues Task Force . The amendments in this ASU allow the option for an entity to apply the proportional amortization method of accounting to other equity investments that are made for the primary purpose of receiving tax credits or other income tax benefits, if certain conditions are met. Prior to this ASU, the application of the proportional amortization method of accounting was limited to investments in low-income housing tax credit structures. The proportional amortization method of accounting results in the amortization of applicable investments, as well as the related income tax credits or other income tax benefits received, being presented on a single line in the consolidated statements of operations and comprehensive loss (within income tax expense). Under this ASU, an entity has the option to apply the proportional amortization method of accounting to applicable investments on a tax-credit-program-by-tax-credit-program basis. In addition, the amendments in this ASU require that all tax equity investments accounted for using the proportional amortization method use the delayed equity contribution guidance in paragraph 323-740-25-3, requiring a liability be recognized for delayed equity contributions that are unconditional and legally binding or for equity contributions that are contingent upon a future event when that contingent event becomes probable. Under this ASU, low-income housing tax credit investments for which the proportional amortization method is not applied can no longer be accounted for using the delayed equity contribution guidance. Further, this ASU specifies that impairment of low-income housing tax credit investments not accounted for using the equity method must apply the impairment guidance in Subtopic 323 – Investments-Equity Method and Joint Ventures . This ASU also clarifies that for low-income housing tax credit investments not accounted for under the proportional amortization method or the equity method, an entity shall account for them under Topic 321 – Investments-Equity Securities . The amendments in this ASU also require additional disclosures in interim and annual periods concerning investments for which the proportional amortization method is applied, including the nature of tax equity investments and the effect of tax equity investments and related income tax credits and other income tax benefits on the consolidated statements of financial position and results of operations. The provisions of this ASU are effective for the Company for interim and annual periods beginning after December 15, 2023. Early adoption is permitted. The Company is currently evaluating the impact of this ASU on its consolidated financial statements.

Earnings Per Share of Common St

Earnings Per Share of Common Stock	3 Months Ended
	Mar. 31, 2023
Earnings Per Share of Common Stock [Abstract]
Earnings Per Share of Common Stock	NOTE 2 – Earnings Per Share of Common Stock Basic earnings per share of common stock is computed pursuant to the two-class method by dividing net income available to common stockholders less dividends paid on participating securities (unvested shares of restricted common stock) and The following table shows how the Company computed basic and diluted earnings per share of common stock for the periods indicated: Three Months Ended March 31, 2023 2022 ( Dollars share and per share data) Net income attributable to Broadway Financial Corporation $ 1,573 $ 958 Less net income attributable to participating securities 7 7 Income available to common stockholders $ 1,566 $ 951 Weighted average common shares outstanding for basic earnings per common share 71,442,163 72,039,378 Add: dilutive effects of unvested restricted stock awards 323,024 50,195 Add: dilutive effects of assumed exercise of stock options – 490,372 Weighted average common shares outstanding for diluted earnings per common share 71,765,187 72,579,945 Earnings per common share - basic $ 0.02 $ 0.01 Earnings per common share - diluted $ 0.02 $ 0.01

Securities

Securities	3 Months Ended
	Mar. 31, 2023
Securities [Abstract]
Securities	NOTE 3 – Securities The following table summarizes the amortized cost and fair value of the available-for-sale investment securities portfolios as of the dates indicated and the corresponding amounts of unrealized gains and losses which were recognized in accumulated other comprehensive income (loss): Amortized Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) March 31, 2023: Federal agency mortgage-backed securities $ 82,834 $ 2 $ (9,819 ) $ 73,017 Federal agency collateralized mortgage obligations (“CMO”) 27,077 – (1,328 ) 25,749 Federal agency debt 55,734 – (3,704 ) 52,030 Municipal bonds 4,858 – (559 ) 4,299 U.S. Treasuries 166,255 – (4,159 ) 162,096 SBA pools 13,415 9 (1,589 ) 11,835 Total available-for-sale securities $ 350,173 $ 11 $ (21,158 ) $ 329,026 December 31, 2022: Federal agency mortgage-backed securities $ 84,955 $ 2 $ (10,788 ) $ 74,169 Federal agency CMOs 27,776 – (1,676 ) 26,100 Federal agency debt 55,687 26 (4,288 ) 51,425 Municipal bonds 4,866 – (669 ) 4,197 U.S. Treasuries 165,997 – (5,408 ) 160,589 SBA pools 14,048 9 (1,788 ) 12,269 Total available-for-sale securities $ 353,329 $ 37 $ (24,617 ) $ 328,749 As of March 31, 2023 $33.3 million of federal agency debt, $19.2 million of U.S. Treasuries and $11.9 million of federal agency mortgage-backed securities (See Note 6 – Borrowings). There were At March 31, 2023 The amortized cost and estimated fair value of all investment securities available-for-sale at March 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Due in one year or less $ 24,876 $ – $ (493 ) $ 24,383 Due after one year through five years 194,958 – (6,682 ) 188,276 Due after five years through ten years 35,270 – (2,839 ) 32,431 Due after ten years (1) 95,069 11 (11,144 ) 83,936 $ 350,173 $ 11 $ (21,158 ) $ 329,026 (1) Mortgage-backed securities, collateralized mortgage obligations and SBA pools do not have a single stated maturity date and therefore have been included in the “Due after ten years” category. The table below indicates the length of time individual securities had been in a continuous unrealized loss position: Less than 12 Months 12 Months or Longer Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) March 31, 2023 Federal agency mortgage-backed securities $ 13,826 $ (562 ) $ 58,935 $ (9,257 ) $ 72,761 $ (9,819 ) Federal agency CMOs 20,691 (663 ) 5,058 (665 ) 25,749 (1,328 ) Federal agency debt 23,548 (580 ) 28,482 (3,124 ) 52,030 (3,704 ) Municipal bonds – – 4,299 (559 ) 4,299 (559 ) U. S. Treasuries 135,522 (2,615 ) 26,574 (1,544 ) 162,096 (4,159 ) SBA pools – – 10,106 (1,589 ) 10,106 (1,589 ) Total unrealized loss position investment securities $ 193,587 $ (4,420 ) $ 133,454 $ (16,738 ) $ 327,041 $ (21,158 ) December 31, 2022: Federal agency mortgage-backed securities $ 38,380 $ (4,807 ) $ 35,526 $ (5,981 ) $ 73,906 $ (10,788 ) Federal agency CMOs 20,997 (885 ) 5,103 (791 ) 26,100 (1,676 ) Federal agency debt 26,383 (1,529 ) 21,956 (2,759 ) 48,339 (4,288 ) Municipal bonds 2,176 (315 ) 2,021 (354 ) 4,197 (669 ) U. S. Treasuries 143,989 (3,884 ) 16,600 (1,524 ) 160,589 (5,408 ) SBA pools 3,743 (365 ) 6,763 (1,423 ) 10,506 (1,788 ) Total unrealized loss position investment securities $ 235,668 $ ( 11,785 ) $ 87,969 $ ( 12,832 ) $ 323,637 $ ( 24,617 ) At March 31, 2023, and December 31, 2022, there were no securities in nonaccrual status. All securities in the portfolio were current with their contractual principal and interest payments. At March 31, 2023, and December 31, 2022, there were no securities purchased with deterioration in credit quality since their origination. At March 31, 2023, and December 31, 2022, there were no collateral dependent securities.

Loans Receivable Held for Inves

Loans Receivable Held for Investment	3 Months Ended
	Mar. 31, 2023
Loans Receivable Held for Investment [Abstract]
Loans Receivable Held for Investment	NOTE 4 – Loans Receivable Held for Investment Loans receivable held for investment were as follows as of the dates indicated: March 31, 2023 December 31, 2022 (In thousands) Real estate: Single family $ 29,216 $ 30,038 Multi-family 509,514 502,141 Commercial real estate 129,031 114,574 Church 13,983 15,780 Construction 59,143 40,703 Commercial – other 37,354 64,841 SBA loans (1) 3,565 3,601 Consumer 10 11 Gross loans receivable before deferred loan costs and premiums 781,816 771,689 Unamortized net deferred loan costs and premiums 1,532 1,755 Gross loans receivable 783,348 773,444 Credit and interest marks on purchased loans, net (1,010 ) (1,010 ) Allowance for credit losses (2) (6,285 ) (4,388 ) Loans receivable, net $ 776,053 $ 768,046 (1) Including Paycheck Protection Program (PPP) loans. (2) The allowance for credit losses as of December 31, 2022 was accounted for under ASC 450 and ASC 310, which is reflective of probable incurred losses as of the date of the consolidated statement of financial condition. Effective January 1, 2023, the allowance for credit losses is accounted for under ASC 326, which is reflective of estimated expected lifetime credit losses. As of both March 31, 2023 and December 31, 2022, the commercial loan category above included $2.7 million of loans issued under the SBA’s PPP. PPP loans have terms of two Prior to the adoption of ASC 326, loans that were purchased in a business combination that showed evidence of credit deterioration since their origination and for which it was probable, at acquisition, that not all contractually required payments would be collected were classified as purchased-credit impaired (“PCI”). The Company accounted for PCI loans and associated income recognition in accordance with ASC Subtopic 310-30 – Receivables-Loans and Debt Securities Acquired with Deteriorated Credit Quality. Upon acquisition, the Company measured the amount by which the undiscounted expected cash future flows on PCI loans exceeded the estimated fair value of the loan as the “accretable yield,” representing the amount of estimated future interest income on the loan. The amount of accretable yield was re-measured at each financial reporting date, representing the difference between the remaining undiscounted expected cash flows and the current carrying value of the PCI loan. The accretable yield on PCI loans was recognized in interest income using the interest method. Following the adoption of ASC 326 on January 1, 2023, the Company analyzes all acquired loans at the time of acquisition for more-than-insignificant deterioration in credit quality since their origination date. Such loans are classified as purchased credit deteriorated (“PCD”) loans. Acquired loans classified as PCD are recorded at an initial amortized cost, which is comprised of the purchase price of the loans and the initial ACL determined for the loans, which is added to the purchase price, and any resulting discount or premium related to factors other than credit. PCI loans were considered to be PCD loans at the date of adoption of ASC 326. The Company accounts for interest income on PCD loans using the interest method, whereby any purchase discounts or premiums are accreted or amortized into interest income as an adjustment of the loan’s yield. An accretable yield is not determined for PCD loans. As part of the CFBanc merger, the Company acquired PCI loans. Prior to the CFBanc merger, there were no such acquired loans. The carrying amount of those loans was as follows: March 31, 2023 December 31, 2022 Real estate: (In thousands) Single family $ 68 $ 68 Commercial – other 57 57 $ 125 $ 125 The following table summarizes the discount on the PCI loans for the three months ended: March 31, 2023 March 31, 2022 (In thousands) Balance at the beginning of the period $ 165 $ 883 Deduction due to payoffs – (707 ) Accretion – (11 ) Balance at the end of the period $ 165 $ 165 Effective January 1, 2023, the Company accounts for credit losses on loans in accordance with ASC 326 – Financial Instruments-Credit Losses The Company’s ACL model also includes adjustments for qualitative factors, where appropriate. Qualitative adjustments may be related to and include, but are not limited to factors such as: (i) changes in lending policies and procedures, including changes in underwriting standards and collections, charge offs, and recovery practices; (ii) changes in international, national, regional, and local conditions; (iii) changes in the nature and volume of the portfolio and terms of loans; (iv) changes in the experience, depth, and ability of lending management; (v) changes in the volume and severity of past due loans and other similar conditions; (vi) changes in the quality of the organization’s loan review system; (vii) changes in the value of underlying collateral for collateral dependent loans; (viii) the existence and effect of any concentrations of credit and changes in the levels of such concentrations; and (ix) the effect of other external factors (i.e., competition, legal and regulatory requirements) on the level of estimated credit losses. These qualitative factors incorporate the concept of reasonable and supportable forecasts, as required by ASC 326. The following tables summarize the activity in the allowance for credit losses on loans for the period indicated: March 31 2023 Beginning Balance Impact of CECL Adoption Charge-offs Recoveries Provision (benefit) Ending Balance ( In thousands Loans receivable held for investment: Single family $ 109 $ 214 $ – $ – $ ( 62 ) $ 261 Multi-family 3,273 603 – – 56 3,932 Commercial real estate 449 466 – – 97 1,012 Church 65 37 – – ( 10 ) 92 Construction 313 219 – – 61 593 Commercial - other 175 254 – – ( 72 ) 357 SBA loans – 20 – – 18 38 Consumer 4 ( 4 ) – – – – Total $ 4,388 $ 1,809 $ – $ – $ 88 $ 6,285 The following tables present the activity in the allowance for loan losses by loan type for the period indicated: For the Three Months Ended March 31, 2022 Real Estate Single Family Multi- Family Commercial Real Estate Church Construction Commercial - Other Consumer Total (In thousands) Beginning balance $ 145 $ 2,657 $ 236 $ 103 $ 212 $ 23 $ 15 $ 3,391 Provision for (recapture of) loan losses 12 114 (20 ) (40 ) 25 57 – 148 Recoveries – – – – – – – – Loans charged off – – – – – – – – Ending balance $ 157 $ 2,771 $ 216 $ 63 $ 237 $ 80 15 3,539 The increase in ACL during the quarter was due to the implementation of the CECL methodology adopted by the Bank effective January 1, 2023, which increased the ACL by $1.8 million. In addition, the Bank recorded an additional increase in the provision for credit losses of $88 thousand during the first quarter of 2023 related to growth in the portfolio. The CECL methodology includes estimates of expected loss rates in the future, whereas the former Allowance for Loan and Lease methodology did not. Prior to the Company’s adoption of ASC 326 on January 1, 2023, the Company maintained an allowance for loan losses (“ALLL”) in accordance with ASC 310 and ASC 450 that covered estimated credit losses on individually evaluated loans that were determined to be impaired, as well as estimated probable incurred losses inherent in the remainder of the loan portfolio. Beginning on January 1, 2023, the Company evaluates loans collectively for purposes of determining the ACL in accordance with ASC 326. Collective evaluation is based on aggregating loans deemed to possess similar risk characteristics. In certain instances, the Company may identify loans that it believes no longer possess risk characteristics similar to other loans in the loan portfolio. These loans are typically identified from those that have exhibited deterioration in credit quality, since the specific attributes and risks associated with such loans tend to become unique as the credit deteriorates. Such loans are typically nonperforming, downgraded to substandard or worse, and/or are deemed collateral dependent, where the ultimate repayment of the loan is expected to come from the operation of or eventual sale of the collateral. Loans that are deemed by management to no longer possess risk characteristics similar to other loans in the portfolio, or that have been identified as collateral dependent, are evaluated individually for purposes of determining an appropriate lifetime ACL. The Company uses a discounted cash flow approach, using the loan’s effective interest rate, for determining the ACL on individually evaluated loans, unless the loan is deemed collateral dependent, which requires evaluation based on the estimated fair value of the underlying collateral, less estimated selling costs. The Company may increase or decrease the ACL for collateral dependent loans based on changes in the estimated fair value of the collateral. The following table presents collateral dependent loans by collateral type as of the date indicated: March 31, 2023 Single Family Condominium Church Business Assets Total Real estate: (In thousands) Single family $ 53 $ 112 $ – $ – $ 165 Commercial real estate – – 78 – 78 Church – – 695 – 695 Commercial – other – – – 281 281 Total $ 53 $ 112 $ 773 $ 281 $ 1,219 At March 31, 2023, $1.2 million of individually evaluated loans were evaluated based on the underlying value of the collateral and no individually evaluated loans were evaluated using a discounted cash flow approach. The Company had no individually evaluated loans on nonaccrual status at March 31, 2023. Prior to the adoption of ASC 326 on January 1, 2023, the Company classified loans as impaired when, based on current information and events, it was probable that the Company would be unable to collect all amounts due according to the contractual terms of the loan agreement or it was determined that the likelihood of the Company receiving all scheduled payments, including interest, when due was remote. Credit losses on impaired loans were determined separately based on the guidance in ASC 310. Beginning January 1, 2023, the Company accounts for credit losses on all loans in accordance with ASC 326, which eliminates the concept of an impaired loan within the context of determining credit losses, and requires all loans to be evaluated for credit losses collectively based on similar risk characteristics. Loans are only evaluated individually when they are deemed to no longer possess similar risk characteristics with other loans in the loan portfolio. The following tables present the balance in the allowance for loan losses and the recorded investment (unpaid contractual principal balance less charge-offs, less interest applied to principal, plus unamortized deferred costs and premiums) by loan type and based on impairment method as of the date indicated: December 31, 2022 Real Estate Single Family Multi- Commercial Real Estate Church Construction Commercial - Other Consumer Total (In thousands) Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 3 $ – $ – $ 4 $ – $ – $ – $ 7 Collectively evaluated for impairment 106 3,273 449 61 313 175 4 4,381 Total ending allowance balance $ 109 $ 3,273 $ 449 $ 65 $ 313 $ 175 $ 4 $ 4,388 Loans: Loans individually evaluated for impairment $ 57 $ – $ – $ 1,655 $ – $ – $ – $ 1,712 Loans collectively evaluated for impairment 20,893 462,539 63,929 9,008 38,530 29,558 11 624,468 Subtotal 20,950 462,539 63,929 10,663 38,530 29,558 11 626,180 Loans acquired in the Merger 9,088 41,357 50,645 5,117 2,173 38,884 – 147,264 Total ending loans balance $ 30,038 $ 503,896 $ 114,574 $ 15,780 $ 40,703 $ 68,442 $ 11 $ 773,444 The following table presents information related to loans individually evaluated for impairment by loan type as of the date indicated: December 31, 2022 Unpaid Recorded Investment Allowance for Loan Losses Allocated (In thousands) With no related allowance recorded: Church $ 1,572 $ 1,572 $ – With an allowance recorded: Single family 57 57 3 Church 83 83 4 Total $ 1,712 $ 1,712 $ 7 The recorded investment in loans excludes accrued interest receivable due to immateriality. For purposes of this disclosure, the unpaid principal balance is not reduced for net charge-offs. The following tables present the monthly average of loans individually evaluated for impairment by loan type and the related interest income for the period indicated: Three Months Ended March 31, 2022 Average Recorded Investment Cash Basis Interest Income Recognized (In thousands) Single family $ 64 $ 1 Multi-family 279 5 Church 2,535 25 Total $ 2,878 $ 31 The following tables present the aging of the recorded investment in past due loans by loan type as of the dates indicated: March 31, 2023 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Current Total (In thousands) Loans receivable held for investment: Single family $ – $ – $ – $ – $ 29,216 $ 29,216 Multi-family 406 – – 406 510,640 511,046 Commercial real estate – – – – 129,031 129,031 Church – – – – 13,983 13,983 Construction – – – – 59,143 59,143 Commercial - other – – – – 37,354 37,354 SBA loans – – – – 3,565 3,565 Consumer – – – – 10 10 Total $ 406 $ – $ – $ 406 $ 782,942 $ 783,348 December 31, 2022 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Current Total (In thousands) Loans receivable held for investment: Single family $ – $ – $ – $ – $ 30,038 $ 30,038 Multi-family – – – – 503,896 503,896 Commercial real estate – – – – 114,574 114,574 Church – – – – 15,780 15,780 Construction – – – – 40,703 40,703 Commercial - other – – – – 64,841 64,841 SBA loans – – – – 3,601 3,601 Consumer – – – – 11 11 Total $ – $ – $ – $ – $ 773,444 $ 773,444 The following table presents the recorded investment in non-accrual loans by loan type as of the dates indicated: March 31, 2023 December 31, 2022 (In thousands) Loans receivable held for investment: Church $ – $ 144 Total non-accrual loans $ – $ 144 Cash-basis interest income recognized represents interest recoveries on non-accrual loans that were paid off and, prior to the adoption of ASC 326, cash received for interest payments on accruing impaired loans. Interest payments collected on non-accrual loans are characterized as payments of principal rather than payments of the outstanding accrued interest on the loans until the remaining principal on the non-accrual loans is considered to be fully collectible or paid off. When a loan is returned to accrual status, the interest payments that were previously applied to principal are amortized over the remaining life of the loan. Foregone interest income that would have been recognized had loans performed in accordance with their original terms amounted to $17 thousand for the three months ended March 31, 2022, and were not included in the consolidated statement of operations and comprehensive loss. There was no foregone interest income on non-accrual loans for the three months ended March 31, 2023. The Company recognized interest income on nonaccrual loans of $286 thousand during the three months ended March 31, 2023. The Company did not recognize any interest income on nonaccrual loans during the three months ended March 31, 2022. There were no loans 90 days or more delinquent that were accruing interest as of March 31, 2023 or December 31, 2022. Modified Loans to Troubled Borrowers On January 1, 2023, the Company adopted ASU 2022-02, which introduces new reporting requirements for modifications of loans to borrowers experiencing financial difficulty. GAAP requires that certain types of modifications of loans in response to a borrower’s financial difficulty be reported, which consist of the following: (i) principal forgiveness, (ii) interest rate reduction, (iii) other-than-insignificant payment delay, (iv) term extension, or (v) any combination of the foregoing. The ACL for loans that were modified in response to a borrower’s financial difficulty is measured on a collective basis, as with other loans in the loan portfolio, unless management determines that such loans no longer possess risk characteristics similar to others in the loan portfolio. In those instances, the ACL for such loans is determined through individual evaluation. There were no loan modifications to borrowers that were experiencing financial difficulty during the three months ended March 31, 2023. Troubled Debt Restructurings (TDRs) Prior to the adoption of ASU 2022-02 – Financial Instruments-Credit Losses: Troubled Debt Restructurings and Vintage Disclosures ASU 2022-02 eliminated the concept of TDRs in current GAAP, and therefore, beginning January 1, 2023, the Company no longer reports loans modified as TDRs except for those loans modified and reported as TDRs in prior period financial information under previous GAAP. Credit Quality Indicators The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. For single family residential, consumer, and other smaller balance homogenous loans, a credit grade is established at inception, and generally only adjusted based on performance. Information about payment status is disclosed elsewhere herein. The Company analyzes all other loans individually by classifying the loans as to credit risk. This analysis is performed at least on a quarterly basis. The Company uses the following definitions for risk ratings: ● Watch. Loans classified as watch exhibit weaknesses that could threaten the current net worth and paying capacity of the obligors. Watch graded loans are generally performing and are not more than 59 days past due. A watch rating is used when a material deficiency exists, but correction is anticipated within an acceptable time frame. ● Special Mention. Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. ● Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. ● Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. ● Loss. Loans classified as loss are considered uncollectible and of such little value that to continue to carry the loan as an active asset is no longer warranted. Loans not meeting the criteria above that are analyzed individually as part of the above-described process are considered to be pass rated loans. Pass rated loans are generally well protected by the current net worth and paying capacity of the obligor and/or by the value of the underlying collateral. Pass rated loans are not more than 59 days past due and are generally performing in accordance with the loan terms. The following table stratifies the loans held for investment portfolio by the Company’s internal risk grading, and by year of origination as of the date indicated: Term Loans Amortized Cost Basis by Origination Year - As of March 31, 2023 2023 2022 2021 2020 2019 Prior Revolving Loans Total (In thousands) Single family: Pass $ – $ 2,517 $ 2,663 $ 4,399 $ 1,833 $ 16,798 $ – $ 28,210 Watch – – – – – 349 – 349 Special Mention – – – – – 258 – 258 Substandard – – – – – 399 – 399 Total $ – $ 2,517 $ 2,663 $ 4,399 $ 1,833 $ 17,804 $ – $ 29,216 Multi-family: Pass $ 13,179 $ 187,621 $ 154,166 $ 27,839 $ 46,232 $ 57,980 $ – $ 487,017 Watch – 3,300 915 – – 3,453 – 7,668 Special Mention – – – – – 1,775 – 1,775 Substandard – – – – 760 13,826 – 14,586 Total $ 13,179 $ 190,921 $ 155,081 $ 27,839 $ 46,992 $ 77,034 $ – $ 511,046 Commercial real estate: Pass $ 2,835 $ 22,571 $ 26,181 $ 30,678 $ 6,430 $ 32,719 $ – $ 121,414 Watch – 432 – – 740 1,101 – 2,273 Special Mention – – – – – – – – Substandard – – – $ – $ – 5,344 $ – $ 5,344 Total $ 2,835 $ 23,003 $ 26,181 $ 30,678 $ 7,170 $ 39,164 $ – $ 129,031 Church: Pass $ – $ – $ 2,247 $ 1,785 $ – $ 7,188 $ – $ 11,220 Watch – – – – 649 1,120 – 1,769 Special Mention – – – – – – – – Substandard – – – – – 994 – 994 Total $ – $ – $ 2,247 $ 1,785 $ 649 $ 9,302 $ – $ 13,983 Construction: Pass $ 995 $ – $ 1,219 $ – $ – $ 2,154 $ – $ 4,368 Watch 17,495 30,012 7,268 – – – – 54,775 Special Mention – – – – – – – – Substandard – – – – – – – – Total $ 18,490 $ 30,012 $ 8,487 $ – $ – $ 2,154 $ – $ 59,143 Commercial – others: Pass $ – $ 7,611 $ 175 $ 1,404 $ 4,300 $ 5,784 $ 6,568 $ 25,842 Watch – 1,205 107 1,500 2,250 5,532 637 11,231 Special Mention – – – – – – – – Substandard – – – – – 281 – 281 Total $ – $ 8,816 $ 282 $ 2,904 $ 6,550 $ 11,597 $ 7,205 $ 37,354 SBA: Pass $ – $ 148 $ 2,723 $ – $ 28 $ 128 $ – $ 3,027 Watch – – – – – – – – Special Mention – – – 538 – – – 538 Substandard – – – – – – – – Total $ – $ 148 $ 2,723 $ 538 $ 28 $ 128 $ – $ 3,565 Consumer: Pass $ 10 $ – $ – $ – $ – $ – $ – $ 10 Watch – – – – – – – – Special Mention – – – – – – – – Substandard – – – – – – – – Total $ 10 $ – $ – $ – $ – $ – $ – $ 10 Total loans: Pass $ 17,019 $ 220,468 $ 189,374 $ 66,105 $ 58,823 $ 122,751 $ 6,568 $ 681,108 Watch 17,495 34,949 8,290 1,500 3,639 11,555 637 78,065 Special Mention – – – 538 – 2,033 – 2,571 Substandard – – – – 760 20,844 – 21,604 Total loans $ 34,514 $ 255,417 $ 197,664 $ 68,143 $ 63,222 $ 157,183 $ 7,205 $ 783,348 The following table stratifies the loan portfolio by the Company’s internal risk rating as of the date indicated: December 31, 2022 Pass Watch Special Mention Substandard Doubtful Loss Total Single family $ 29,022 $ 354 $ 260 $ 402 $ – $ – $ 30,038 Multi-family 479,182 9,855 14,859 – – – 503,896 Commercial real estate 104,066 4,524 1,471 4,513 – – 114,574 Church 14,505 728 – 547 – – 15,780 Construction 2,173 38,530 – – – – 40,703 Commercial – 53,396 11,157 – 288 – – 64,841 SBA 3,032 569 – – – – 3,601 Consumer 11 – – – – – 11 Total $ 685,387 $ 65,717 $ 16,590 $ 5,750 $ – $ – $ 773,444 Allowance for Credit Losses for Off-Balance Sheet Commitments The Company maintains an allowance for credit losses on off-balance sheet commitments related to unfunded loans and lines of credit, which is included in other liabilities of the consolidated statements of financial condition. Upon the Company’s adoption of ASC 326 on January 1, 2023, the Company applies an expected credit loss estimation methodology for off-balance sheet commitments. This methodology is commensurate with the methodology applied to each respective segment of the loan portfolio in determining the ACL for loans held-for-investment. The loss estimation process includes assumptions for the probability that a loan will fund, as well as the expected amount of funding. These assumptions are based on the Company’s own historical internal loan data. The allowance for off-balance sheet commitments was $367 thousand and $412 thousand at March 31, 2023 and December 31, 2022, respectively.

Goodwill and Core Deposit Intan

Goodwill and Core Deposit Intangible	3 Months Ended
	Mar. 31, 2023
Goodwill and Core Deposit Intangible [Abstract]
Goodwill and Core Deposit Intangible	NOTE 5 – The Company recognized goodwil l of and a core deposit intangible of . An assessment of goodwill impairment was performed as of December The following table presents the changes in the carrying amounts of goodwill and core deposit intangibles for the three months ended March 31, 2023: Goodwill Core Deposit Intangible (In thousands) Balance at the beginning of the period $ 25,858 $ 2,501 Additions – – Change in deferred tax estimate – – Amortization – (98 ) Balance at the end of the period $ 25,858 $ 2,403 The carrying amount of the core deposit intangible consisted of the following at March Core deposit intangible acquired $ 3,329 Less: accumulated amortization (926 ) $ 2,403 The following table outlines the estimated amortization expense for the core deposit intangible during the next five fiscal years (in thousands): 2023 $ 292 2024 336 2025 315 2026 304 2027 291 Thereafter 865 $ 2,403

Borrowings

Borrowings	3 Months Ended
	Mar. 31, 2023
Borrowings [Abstract]
Borrowings	NOTE 6 – Borrowings T he Company enters into agreements under which it sells securities subject to an obligation to repurchase the same or similar securities. Under these arrangements, the Company may transfer legal control over the assets but still retain effective control through an agreement that both entitles and obligates the Company to repurchase the assets. urities is reflected as a liability in the Company’s consolidated hile the securities underlying the repurchase agreements remain in the respective investment securities asset accounts. In other words, there is no offsetting or netting of the investment securities assets with the repurchase agreement liabilities. March 31, 2023 March 31, 2023 At March 31, 2023 and December 31, 2022, the Company had outstanding advances from the Federal Home Loan Bank (“FHLB”) totaling $168.8 million and $128.3 million, respectively. The weighted interest rate was 4.35% and 3.74% as of March 31, 2023 and December 31, 2022, respectively. The weighted average contractual maturity was nine months and 13 months as of March 31, 2023 and December 31, 2022, respectively. The advances were collateralized by loans with a fair value of $329.1 million at March 31, 2023 March 31, 2023 March 31, 2023 In addition, the Company had additional lines of credit of $10.0 million with other financial institutions as of March 31, 2023. These lines of credit are unsecured, bear interest at the Federal funds rate as of the date of utilization, and mature in 30 days. In connection with the New Market Tax Credit activities of the Bank, CFC 45 is a partnership whose members include CFNMA and City First New Markets Fund II, LLC. This community development entity (“CDE”) acts in effect as a pass-through for a Merrill Lynch allocation totaling $14.0 million that needed to be deployed. In December 2015, Merrill Lynch made a $14.0 million non-recourse loan to CFC 45, whereby CFC 45 passed that loan through to a Qualified Active Low-Income Business (“QALICB”). The loan to the QALICB is secured by a Leasehold Deed of Trust that, due to the pass-through, non-recourse structure, is operationally and ultimately for the benefit of Merrill Lynch rather than CFC 45. Debt service payments received by CFC 45 from the QALICB are passed through to Merrill Lynch in return for which CFC 45 receives a servicing fee. The financial statements of CFC 45 are consolidated with those of the Bank and the Company. There are two notes for CFC 45. Note A is in the amount of $9.9 million with a fixed interest rate of 5.2% per annum. Note B is in the amount of $4.1 million with a fixed interest rate of 0.24% per annum. Quarterly interest only payments commenced in March 2016 and will continue through March 2023 for Notes A and B. Beginning in September 2023, quarterly principal and interest payments will be due for Notes A and B. Both notes will mature on December 1, 2040.

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2023
Fair Value [Abstract]
Fair Value	NOTE 7 – Fair Value The Company used the following methods and significant assumptions to estimate fair value: The fair values of securities available-for-sale are determined by obtaining quoted prices on nationally recognized securities exchanges (Level 1 inputs) or matrix pricing, which is a mathematical technique to value debt securities without relying exclusively on quoted prices for the specific securities, but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). The fair value of loans that are collateral dependent is generally based upon the fair value of the collateral, which is obtained from recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Collateral dependent loans are evaluated on a quarterly basis for additional required calculation adjustments (taken as part of the ACL) and adjusted accordingly. Assets acquired through or by transfer in lieu of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at the lower of cost or fair value less estimated costs to sell. Fair value is commonly based on recent real estate appraisals which are updated every nine months. These appraisals may utilize a single valuation approach or a combination of approaches, including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Real estate owned properties are evaluated on a quarterly basis for additional impairment and adjusted accordingly. Appraisals for collateral-dependent loans and assets acquired through or by transfer of in lieu of foreclosure are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. Once received, an independent third-party licensed appraiser reviews the appraisals for accuracy and reasonableness, reviewing the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. Assets Measured on a Recurring Basis Assets measured at fair value on a recurring basis are summarized below: Fair Value Measurement Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total (In thousands) At March 31, 2023: Securities available-for-sale: Federal agency mortgage-backed $ – $ 73,017 $ – $ 73,017 Federal agency CMO – 25,749 – 25,749 Federal agency debt – 52,030 – 52,030 Municipal bonds – 4,299 – 4,299 U.S. Treasuries 162,096 – – 162,096 SBA pools – 11,835 – 11,835 At December 31, 2022: Securities available-for-sale: Federal agency mortgage-backed $ – $ 74,169 $ – $ 74,169 Federal agency CMO – 26,100 – 26,100 Federal agency debt – 51,425 – 51,425 Municipal bonds – 4,197 – 4,197 U.S. Treasuries 160,589 – – 160,589 SBA pools – 12,269 – 12,269 There were no transfers between Level 1, Level 2, or Level 3 during the three months ended March 31, 2023 and 2022. As of March 31, 2023 and December 31, 2022, the Bank did not have any assets or liabilities carried at fair value on a nonrecurring basis. Fair Values of Financial Instruments The following tables present the carrying amount, fair value, and placement in the fair value hierarchy of the Company’s financial instruments not recorded at fair value on a recurring basis as of March 31, 2023 and December 31, 2022. Fair Value Measurements at March 31, 2023 Carrying Value Level 1 Level 2 Level 3 Total (In thousands) Financial Assets: Cash and cash equivalents $ 29,648 $ 29,648 $ – $ – $ 29,648 Securities available-for-sale 329,026 162,096 166,930 – 329,026 Loans receivable held for investment 776,053 – – 636,286 636,286 Accrued interest receivables 4,219 612 635 2,972 4,219 Bank owned life insurance 3,242 3,242 – – 3,242 Financial Liabilities: Deposits $ 657,542 $ – $ 596,064 $ – $ 596,064 FHLB advances 168,810 – 167,175 – 167,175 Securities sold under agreements to repurchase 70,941 – 67,423 – 67,423 Note payable 14,000 – – 14,000 14,000 Accrued interest payable 368 – 368 – 368 Fair Value Measurements at December 31, 2022 Carrying Value Level 1 Level 2 Level 3 Total (In thousands) Financial Assets: Cash and cash equivalents $ 16,105 $ 16,105 $ – $ – $ 16,105 Securities available-for-sale 328,749 160,589 168,160 – 328,749 Loans receivable held for investment 768,046 – – 641,088 641,088 Accrued interest receivables 3,973 442 793 2,738 3,973 Bank owned life insurance 3,233 3,233 – – 3,233 Financial Liabilities: Deposits $ 686,916 $ – $ 673,615 $ – $ 673,615 FHLB advances 128,344 – 126,328 – 126,328 Securities sold under agreements to repurchase 63,471 – 60,017 – 60,017 Note payable 14,000 – – 14,000 14,000 Accrued interest payable 453 – 453 – 453 In accordance with ASU No. 2016-01, the fair value of financial assets and liabilities was measured using an exit price notion. Although the exit price notion represents the value that would be received to sell an asset or paid to transfer a liability, the actual price received for a sale of assets or paid to transfer liabilities could be different from exit price disclosed.

Stock-based Compensation

Stock-based Compensation	3 Months Ended
	Mar. 31, 2023
Stock-based Compensation [Abstract]
Stock-Based Compensation	NOTE 8 – Stock-based Compensation The Long-Term Incentive Plan, which was adopted by the Company and approved by the stockholders in 2018 (the “LTIP”), permits the grant of non-qualified and incentive stock options, stock appreciation rights, full value awards and cash incentive awards. The plan is in effect for ten years. The maximum number of shares that can be awarded under the plan is 1,293,109 shares of common stock as of December 31, 2018. As of March 31, 2023 During February of 2023 and 2022, the Company issued 73,840 and 47,187 shares of stock, respectively, to its directors under the LTIP, which were fully vested. The Company recorded $96 thousand and $84 thousand of compensation expense during the three months ended March 31, 2023 and 2022, respectively, based on the fair value of the stock, which was determined using the fair value of the stock on the date of the award. During March of 2022, the Company issued 495,262 shares to its officers and employees under the LTIP of which 74,736 shares have been forfeited as of March 31, 2023. Each restricted stock award is valued based on the fair value of the stock on the date of the award. These awarded shares of restricted stock fully vest over periods ranging from 36 months to 60 months from their respective dates of grant. Stock based compensation is recognized on a straight-line basis over the vesting period. During the three months ending March 31, 2023 and 2022, the company recorded $38 thousand and $15 thousand of stock-based compensation expense, respectively. No stock options were granted during the three months ended March 31, 2023 and 2022. The following table summarizes stock option activity during the three months ended March 31, 2023: March 31, 2023 Number Outstanding Weighted Average Exercise Price Outstanding at beginning of period 250,000 $ 1.62 Granted during period – – Exercised during period – – Forfeited or expired during period – – Outstanding at end of period 250,000 $ 1.62 Exercisable at end of period 250,000 $ 1.62 T he Company did not record any stock-based compensation expense related to stock options during the three months ended March 31, 2023 and 2022. Options outstanding and exercisable at March 31, 2023 were as follows: Outstanding Exercisable Number Outstanding Weighted Average Remaining Contractual Life Weighted Average Exercise Price Aggregate Intrinsic Value Number Outstanding Weighted Average Exercise Price Aggregate Intrinsic Value 250,000 2.88 years $ 1.62 $ – 250,000 $ 1.62 $ –

ESOP Plan

ESOP Plan	3 Months Ended
	Mar. 31, 2023
ESOP Plan [Abstract]
ESOP Plan	NOTE 9 – ESOP Plan Employees participate in an ESOP after attaining certain age and service requirements. In 2022, the ESOP purchased 466,955 shares of the Company’s common stock at a cost of $1.07 per share for a total cost of $500 thousand which was funded with a $5.0 million line of credit from the Company. During the first quarter of 2023, the ESOP purchased 2,065,342 additional shares of the Company’s common stock at an average cost of $1.21 per share for a total cost of $2.5 million which was funded with the line of credit. The loan will be repaid from the Bank’s annual discretionary contributions to the ESOP, net of dividends paid, over a period of 20 years. Shares of the Company’s common stock purchased by the ESOP are held in a suspense account until released for allocation to participants. When loan payments are made, shares are allocated to each eligible participant based on the ratio of each such participant’s compensation, as defined in the ESOP, to the total compensation of all eligible plan participants. As the unearned shares are released from the suspense account, the Company recognizes compensation expense equal to the fair value of the ESOP shares during the periods in which they become committed to be released. To the extent that the fair value of the ESOP shares released differs from the cost of such shares, the difference is charged or credited to equity as additional paid-in capital. Any dividends on allocated shares increase participant accounts. Any dividends on unallocated shares will be used to repay the loan. Participants will receive shares for their vested balance at the end of their employment. Compensation expense related to the ESOP was $12 thousand and $18 thousand for the three months ended March 31, 2023 and 2022, respectively. Shares held by the ESOP were as follows: March 31, 2023 December 31, 2022 (Dollars in thousands) Allocated to participants 1,057,504 1,057,504 Committed to be released 19,784 9,892 Suspense shares 3,003,938 948,488 Total ESOP shares 4,081,226 2,015,884 Fair value of unearned shares $ 3,545 $ 1,015 The value of unearned shares, which are reported as Unearned ESOP shares in the equity section of the consolidated statements of financial condition, were $4.0 million and $1.3 million at March 31, 2023 and December 31, 2022, respectively.

Stockholders' Equity and Regula

Stockholders' Equity and Regulatory Matters	3 Months Ended
	Mar. 31, 2023
Stockholders' Equity and Regulatory Matters [Abstract]
Stockholders' Equity and Regulatory Matters	NOTE 10 – Stockholders’ Equity and Regulatory Matters On June 7, 2022, the Company issued 150,000 shares of Senior Non-Cumulative Perpetual Preferred stock, Series C (“Series C Preferred Stock”), for the capital investment of $150.0 million from the U.S. Treasury under the Emergency Capital Investment Program (“ECIP”). ECIP investment is treated as Tier 1 Capital for the regulatory capital treatment. The Series C Preferred stock may be redeemed at the option of the Company on or after the fifth anniversary of issuance (or earlier in the event of loss of regulatory capital treatment), subject to the approval of the appropriate federal banking regulator in accordance with the federal banking agencies’ regulatory capital regulations. The initial dividend rate of the Series C Preferred Stock is zero percent for the first two years after issuance, and thereafter the floor dividend rate is 0.50% and the ceiling dividend rate is 2.00%. During the first quarter of 2022 the Company completed the exchange of all the Series A Fixed Rate Cumulative Redeemable Preferred Stock, with an aggregate liquidation rate of $3 million, plus accrued dividends, for 1,193,317 shares of Class A Common Stock at an exchange price of $2.51 per share of Class A Common Stock. The Bank’s capital requirements are administered by the Office of the Comptroller of the Currency (“OCC”) and involve quantitative measures of assets, liabilities, and certain off-balance sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by the OCC. Failure to meet capital requirements can result in regulatory action. As a result of the Economic Growth, Regulatory Relief, and Consumer Protection Act, the federal banking agencies have developed a “Community Bank Leverage Ratio” (“CBLR”) (the ratio of a bank’s tier 1 capital to average total consolidated assets) for financial institutions with assets of less than $10 billion. A “qualifying community bank” that exceeds this ratio will be deemed to be in compliance with all other capital and leverage requirements, including the capital requirements to be considered “well capitalized” under Prompt Corrective Action statutes. The federal banking agencies have set the Community Bank Leverage Ratio at 9%. Actual and required capital amounts and ratios as of the dates indicated are presented below: Actual Minimum Required to Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio (Dollars in thousands) March 31 2023 Community Bank Leverage Ratio $ 181,562 15.69 % $ 104,174 9.00 % December 31 2022 Community Bank Leverage Ratio $ 181,304 15.75 % $ 103,591 9.00 % At March 31, 2023, the Company and the Bank met all the capital adequacy requirements to which they were subject. In addition, the Bank was “well capitalized” under the regulatory framework for prompt corrective action. Management believes that no conditions or events have occurred since March 31

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
Income Taxes [Abstract]
Income Taxes	NOTE 11 – Income Taxes T he Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion, or all, of the deferred tax asset will not be realized. In assessing the realization of deferred tax assets, management evaluated both positive and negative evidence, including the existence of cumulative losses in the current year and the prior two years, the amount of taxes paid in available carry-back years, the forecasts of future income and tax planning strategies. At March 31, 2023, the Company maintained a $369 thousand valuation allowance on its deferred tax assets because the number of shares sold in the private placements completed on April 6, 2021 triggered limitations on the use of certain tax attributes under the Section 382 of the federal tax code. The ability to use net operating losses (“NOLs”) to offset future taxable income will be restricted and these NOLs could expire or otherwise be unavailable. In general, under Section 382 of the Code and corresponding provisions of state law, a corporation that undergoes an “ownership change” is subject to limitations on its ability to utilize its pre-change NOLs to offset future taxable income. For these purposes, an ownership change generally occurs where the aggregate stock ownership of one or more stockholders or groups of stockholders who owns at least 5% of a corporation’s stock increases its ownership by more than 50 percentage points over its lowest ownership percentage within a specified testing period.

Concentration of Credit Risk

Concentration of Credit Risk	3 Months Ended
	Mar. 31, 2023
Concentration of Credit Risk [Abstract]
Concentration of Credit Risk	NOTE 12 – Concentration of Credit Risk The Bank has a significant concentration of deposits with one customer that accounted for approximately 10% of its deposits as of March The Bank a lso h

Basis of Financial Statement _2

Basis of Financial Statement Presentation (Policies)	3 Months Ended
	Mar. 31, 2023
Basis of Financial Statement Presentation [Abstract]
Consolidation	The accompanying unaudited consolidated financial statements include Broadway Financial Corporation (the “Company”) and its wholly owned subsidiary, City First Bank, National Association (the “Bank” and, together with the Company, “City First Broadway”). Also included in the unaudited consolidated financial statements are the following subsidiaries of City First Bank: 1432 U Street LLC, Broadway Service Corporation, City First Real Estate LLC, City First Real Estate II LLC, City First Real Estate III LLC, City First Real Estate IV LLC, and CF New Markets Advisors, LLC (“CFNMA”). In addition, CFNMA also consolidates CFC Fund Manager II, LLC; City First New Markets Fund II, LLC; City First Capital IX, LLC; and City First Capital 45, LLC (“CFC 45”) into its financial results. All significant intercompany balances and transactions have been eliminated in consolidation.
Basis of Presentation	The unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions for quarterly reports on Form 10-Q. These unaudited consolidated financial statements do not include all disclosures associated with the Company’s consolidated annual financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2022 (“2022 Form 10-K”) and, accordingly, should be read in conjunction with such audited consolidated financial statements. In the opinion of management, all adjustments (all of which are normal and recurring in nature) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023.
Subsequent Events	Subsequent events have been evaluated through the date these financial statements were issued.
Allowance for Credit Losses	Allowance for Credit Losses – Securities Effective January 1, 2023, the Company accounts for the allowance for credit losses (“ACL”) on securities in accordance with Accounting Standards Codification Topic 326 (“ASC 326”) – Financial Instruments-Credit Losses For available-for-sale investment securities, the Company performs a qualitative evaluation for those securities that are in an unrealized loss position to determine if the decline in fair value is credit related or non-credit related. In determining whether a security’s decline in fair value is credit related, the Company considers a number of factors including, but not limited to: (i) the extent to which the fair value of the investment is less than its amortized cost; (ii) the financial condition and near-term prospects of the issuer; (iii) any downgrades in credit ratings; (iv) the payment structure of the security, (v) the ability of the issuer of the security to make scheduled principal and interest payments, and (vi) general market conditions which reflect prospects for the economy as a whole, including interest rates and sector credit spreads. For investment securities where the Company has reason to believe the credit loss exposure is remote, a zero credit loss assumption is applied. Such investment securities typically consist of those guaranteed by the U.S. government or other government enterprises, where there is an explicit or implicit guarantee by the U.S. government, that are highly rated by rating agencies, and historically have had no credit loss experience. If it is determined that the unrealized loss, or a portion thereof, is credit related, the Company records the amount of credit loss through a charge to the provision for credit losses in current period earnings. However, the amount of credit loss recorded in current period earnings is limited to the amount of the total unrealized loss on the security, which is measured as the amount by which the security’s fair value is below its amortized cost. If the Company intends to sell a security that is in an unrealized loss position, or if it is more likely than not the Company will be required to sell a security in an unrealized loss position, the total amount of the unrealized loss is recognized in current period earnings through the provision for credit losses. Unrealized losses deemed non-credit related are recorded, net of tax, in accumulated other comprehensive income (loss). The Company’s assessment of available-for-sale investment securities as of March 31, 2023, indicated that an ACL was not required. The Company analyzed available-for-sale investment securities that were in an unrealized loss position and determined the decline in fair value for those securities was not related to credit, but rather related to changes in interest rates and general market conditions. As such, no ACL was recorded for available-for-sale securities as of March 31, 2023. Allowance for Credit Losses - Loans Effective January 1, 2023, the Company accounts for credit losses on loans in accordance with ASC 326, which requires the Company to record an estimate of expected lifetime credit losses for loans at the time of origination or acquisition. The ACL is maintained at a level deemed appropriate by management to provide for expected credit losses in the portfolio as of the date of the consolidated statements of financial condition. Estimating expected credit losses requires management to use relevant forward-looking information, including the use of reasonable and supportable forecasts. The measurement of the ACL is performed by collectively evaluating loans with similar risk characteristics. The Company measures the ACL for each of its loan segments using the weighted-average remaining maturity (“WARM”) method. The weighted average remaining life, including the effect of estimated prepayments, is calculated for each loan pool on a quarterly basis. The Company then estimates a loss rate for each pool using both its own historical loss experience and the historical losses of a group of peer institutions during the period from 2004 through the most recent quarter. The Company’s ACL model also includes adjustments for qualitative factors, where appropriate. Since historical information (such as historical net losses) may not always, by itself, provide a sufficient basis for determining future expected credit losses, the Company periodically considers the need for qualitative adjustments to the ACL. Qualitative adjustments may be related to and include, but not limited to factors such as: (i) changes in lending policies and procedures, including changes in underwriting standards and collections, charge offs, and recovery practices; (ii) changes in international, national, regional, and local conditions; (iii) changes in the nature and volume of the portfolio and terms of loans; (iv) changes in the experience, depth, and ability of lending management; (v) changes in the volume and severity of past due loans and other similar conditions; (vi) changes in the quality of the organization’s loan review system; (vii) changes in the value of underlying collateral for collateral dependent loans; (viii) the existence and effect of any concentrations of credit and changes in the levels of such concentrations; and (ix) the effect of other external factors (i.e., competition, legal and regulatory requirements) on the level of estimated credit losses. The Company has a credit portfolio review process designed to detect problem loans. Problem loans are typically those of a substandard or worse internal risk grade, and may consist of loans on nonaccrual status, loans that have recently been modified in response to a borrower’s deteriorating financial condition, loans where the likelihood of foreclosure on underlying collateral has increased, collateral dependent loans, and other loans where concern or doubt over the ultimate collectability of all contractual amounts due has become elevated. Such loans may, in the opinion of management, be deemed to no longer possess risk characteristics similar to other loans in the loan portfolio, because the specific attributes and risks associated with the loan have likely become unique as the credit quality of the loan deteriorates. As such, these loans may require individual evaluation to determine an appropriate ACL for the loan. When a loan is individually evaluated, the Company typically measures the expected credit loss for the loan based on a discounted cash flow approach, unless the loan has been deemed collateral dependent. Collateral dependent loans are loans where the repayment of the loan is expected to come from the operation of and/or eventual liquidation of the underlying collateral. The ACL for collateral dependent loans is determined using estimates of the fair value of the underlying collateral, less estimated selling costs. The estimation of the appropriate level of the ACL requires significant judgment by management. Although management uses the best information available to make these estimations, future adjustments to the ACL may be necessary due to economic, operating, regulatory, and other conditions that may extend beyond the Company’s control. Changes in management’s estimates of forecasted net losses could materially change the level of the ACL. Additionally, various regulatory agencies, as an integral part of their examination process, periodically review the Company’s ACL and credit review process. Such agencies may require the Company to recognize additions to the ACL based on judgments different from those of management. The Company has segmented the loan portfolio according to loans that share similar attributes and risk characteristics. Each segment possesses varying degrees of risk based on, among other things, the type of loan, the type of collateral, and the sensitivity of the borrower or industry to changes in external factors such as economic conditions. The Company determines the ACL for loans based on this more detailed loan segmentation and classification. These segments, and the risks associated with each segment, are as follows: Real Estate: Single Family – Subject to adverse employment conditions in the local economy leading to increased default rate, decreased market values from oversupply in a geographic area and incremental rate increases on adjustable-rate mortgages which may impact the ability of borrowers to maintain payments. Real Estate: Multi‑Family – Subject to adverse various market conditions that cause a decrease in market value or lease rates, changes in personal funding sources for tenants, oversupply of units in a specific region, population shifts and reputational risks. Real Estate: Commercial Real Estate – Subject to adverse conditions in the local economy which may lead to reduced cash flows due to vacancies and reduced rental rates, and decreases in the value of underlying collateral. Real Estate: Church – Subject to adverse economic and employment conditions, which may lead to reduced cash flows from members’ donations and offerings, and the stability, quality, and popularity of church leadership. Real Estate: Construction – Subject to adverse conditions in the local economy, which may lead to reduced demand for new commercial, multi‑family, or single family buildings or reduced lease or sale opportunities once the building is complete. Commercial and SBA Loans – Subject to industry and economic conditions including decreases in product demand. Consumer – Subject to adverse employment conditions in the local economy, which may lead to higher default rates.
Modified Loans to Borrowers Experiencing Financial Difficulty	Modified Loans to Borrowers Experiencing Financial Difficulty In certain instances, the Company makes modifications to loans in order to alleviate temporary difficulties in the borrower’s financial condition and/or constraints on the borrower’s ability to repay the loan, and to minimize potential losses to the Company. Modifications may include: changes in the amortization terms of the loan, reductions in interest rates, acceptance of interest only payments, and reductions to the outstanding loan balance. Such loans are typically placed on nonaccrual status when there is doubt concerning the full repayment of principal and interest or the loan has been in default for a period of 90 days or more. Such loans may be returned to accrual status when all contractual amounts past due have been brought current, and the borrower’s performance under the modified terms of the loan agreement and the ultimate collectability of all contractual amounts due under the modified terms is no longer in doubt. The Company typically measures the ACL on these loans on an individual basis as the loans are deemed to no longer have risk characteristics that are similar to other loans in the portfolio. The determination of the ACL for these loans is based on a discounted cash flow approach, unless the loan is deemed collateral dependent, which requires measurement of the ACL based on the estimated expected fair value of the underlying collateral, less selling costs.
Accounting Pronouncements Recently Adopted and Yet to Be Adopted	Accounting Pronouncements Recently Adopted In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13 – Financial Instruments-Credit Losses (Topic 32 6): In April 2019, the FASB issued ASU 2019-04 – Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815-Derivatives and Hedging, and Topic 825-Financial Instruments In May 2019, the FASB issued ASU 2019-05 - Financial Instruments-Credit Losses (Topic 326): Targeted Transition Relief Financial Instruments-Credit Losses-Measured at Amortized Cost Financial Instruments Effective January 1, 2023, the Company adopted the provisions of ASC 326 through the application of the modified retrospective transition approach, and recorded a net decrease of $1.3 million to the beginning balance of retained earnings as of January 1, 2023 for the cumulative effect adjustment. The following table illustrates the impact of the adoption of the CECL model under ASC 326 on the Company’s consolidated statements of financial position as of January 1, 2023: Pre-CECL Adoption Impact of CECL Adoption As Reported Under CECL (In thousands) Assets: Allowance for credit losses on available-for-sale securities $ – $ – $ – Allowance for credit losses on loans 4,388 1,809 6,197 Deferred tax assets 11,872 508 12,380 Liabilities: Allowance for credit losses on off-balance sheet exposures 412 (45 ) 367 Stockholders’ equity: Retained earnings 9,294 (1,256 ) 8,038 The Company’s assessment of available-for-sale investment securities as of January 1, 2023 indicated that an ACL was not required. The Company analyzed available-for-sale investment securities that were in an unrealized loss position as of the date of adoption and determined the decline in fair value for those securities was not related to credit, but rather related to changes in interest rates and general market conditions. As such, no ACL was recorded for available-for-sale securities as of January 1, 2023. Upon the adoption of ASC 326, the Company did not reassess purchased loans with credit deterioration (previously classified as purchased credit impaired loans under ASC 310-30). In February 2019, the U.S. federal bank regulatory agencies approved a final rule modifying their regulatory capital rules and providing an option to phase in the adverse regulatory capital effects of the impact of adoption of ASC 326 over a three-year period. As a result, entities have the option to gradually phase in the full effect of CECL on regulatory capital over a three-year transition period. The Company implemented its CECL model commencing January 1, 2023 and elected to phase in the full effect of CECL on regulatory capital over the three-year transition period. In March 2022, the FASB issued ASU 2022-02 – Financial Instruments-Credit Losses (Topic 326) Troubled Debt Restructurings and Vintage Disclosures Receivables-Troubled Debt Restructurings by Creditors Accounting Pronouncements Yet to Be Adopted In March 2023, the FASB issued ASU 2023-02 – Investments-Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method, a Consensus of the Emerging Issues Task Force . The amendments in this ASU allow the option for an entity to apply the proportional amortization method of accounting to other equity investments that are made for the primary purpose of receiving tax credits or other income tax benefits, if certain conditions are met. Prior to this ASU, the application of the proportional amortization method of accounting was limited to investments in low-income housing tax credit structures. The proportional amortization method of accounting results in the amortization of applicable investments, as well as the related income tax credits or other income tax benefits received, being presented on a single line in the consolidated statements of operations and comprehensive loss (within income tax expense). Under this ASU, an entity has the option to apply the proportional amortization method of accounting to applicable investments on a tax-credit-program-by-tax-credit-program basis. In addition, the amendments in this ASU require that all tax equity investments accounted for using the proportional amortization method use the delayed equity contribution guidance in paragraph 323-740-25-3, requiring a liability be recognized for delayed equity contributions that are unconditional and legally binding or for equity contributions that are contingent upon a future event when that contingent event becomes probable. Under this ASU, low-income housing tax credit investments for which the proportional amortization method is not applied can no longer be accounted for using the delayed equity contribution guidance. Further, this ASU specifies that impairment of low-income housing tax credit investments not accounted for using the equity method must apply the impairment guidance in Subtopic 323 – Investments-Equity Method and Joint Ventures . This ASU also clarifies that for low-income housing tax credit investments not accounted for under the proportional amortization method or the equity method, an entity shall account for them under Topic 321 – Investments-Equity Securities . The amendments in this ASU also require additional disclosures in interim and annual periods concerning investments for which the proportional amortization method is applied, including the nature of tax equity investments and the effect of tax equity investments and related income tax credits and other income tax benefits on the consolidated statements of financial position and results of operations. The provisions of this ASU are effective for the Company for interim and annual periods beginning after December 15, 2023. Early adoption is permitted. The Company is currently evaluating the impact of this ASU on its consolidated financial statements.

Basis of Financial Statement _3

Basis of Financial Statement Presentation (Tables)	3 Months Ended
	Mar. 31, 2023
Basis of Financial Statement Presentation [Abstract]
Impact of ASC 326 Adoption	Effective January 1, 2023, the Company adopted the provisions of ASC 326 through the application of the modified retrospective transition approach, and recorded a net decrease of $1.3 million to the beginning balance of retained earnings as of January 1, 2023 for the cumulative effect adjustment. The following table illustrates the impact of the adoption of the CECL model under ASC 326 on the Company’s consolidated statements of financial position as of January 1, 2023: Pre-CECL Adoption Impact of CECL Adoption As Reported Under CECL (In thousands) Assets: Allowance for credit losses on available-for-sale securities $ – $ – $ – Allowance for credit losses on loans 4,388 1,809 6,197 Deferred tax assets 11,872 508 12,380 Liabilities: Allowance for credit losses on off-balance sheet exposures 412 (45 ) 367 Stockholders’ equity: Retained earnings 9,294 (1,256 ) 8,038

Earnings Per Share of Common _2

Earnings Per Share of Common Stock (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share of Common Stock [Abstract]
Basic and Diluted Earnings Per Share of Common Stock	The following table shows how the Company computed basic and diluted earnings per share of common stock for the periods indicated: Three Months Ended March 31, 2023 2022 ( Dollars share and per share data) Net income attributable to Broadway Financial Corporation $ 1,573 $ 958 Less net income attributable to participating securities 7 7 Income available to common stockholders $ 1,566 $ 951 Weighted average common shares outstanding for basic earnings per common share 71,442,163 72,039,378 Add: dilutive effects of unvested restricted stock awards 323,024 50,195 Add: dilutive effects of assumed exercise of stock options – 490,372 Weighted average common shares outstanding for diluted earnings per common share 71,765,187 72,579,945 Earnings per common share - basic $ 0.02 $ 0.01 Earnings per common share - diluted $ 0.02 $ 0.01

Securities (Tables)

Securities (Tables)	3 Months Ended
	Mar. 31, 2023
Securities [Abstract]
Available-for-Sale Investment Securities Portfolios	The following table summarizes the amortized cost and fair value of the available-for-sale investment securities portfolios as of the dates indicated and the corresponding amounts of unrealized gains and losses which were recognized in accumulated other comprehensive income (loss): Amortized Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) March 31, 2023: Federal agency mortgage-backed securities $ 82,834 $ 2 $ (9,819 ) $ 73,017 Federal agency collateralized mortgage obligations (“CMO”) 27,077 – (1,328 ) 25,749 Federal agency debt 55,734 – (3,704 ) 52,030 Municipal bonds 4,858 – (559 ) 4,299 U.S. Treasuries 166,255 – (4,159 ) 162,096 SBA pools 13,415 9 (1,589 ) 11,835 Total available-for-sale securities $ 350,173 $ 11 $ (21,158 ) $ 329,026 December 31, 2022: Federal agency mortgage-backed securities $ 84,955 $ 2 $ (10,788 ) $ 74,169 Federal agency CMOs 27,776 – (1,676 ) 26,100 Federal agency debt 55,687 26 (4,288 ) 51,425 Municipal bonds 4,866 – (669 ) 4,197 U.S. Treasuries 165,997 – (5,408 ) 160,589 SBA pools 14,048 9 (1,788 ) 12,269 Total available-for-sale securities $ 353,329 $ 37 $ (24,617 ) $ 328,749
Amortized Cost and Fair Value of Investment Securities by Contractual Maturity	The amortized cost and estimated fair value of all investment securities available-for-sale at March 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Due in one year or less $ 24,876 $ – $ (493 ) $ 24,383 Due after one year through five years 194,958 – (6,682 ) 188,276 Due after five years through ten years 35,270 – (2,839 ) 32,431 Due after ten years (1) 95,069 11 (11,144 ) 83,936 $ 350,173 $ 11 $ (21,158 ) $ 329,026 (1) Mortgage-backed securities, collateralized mortgage obligations and SBA pools do not have a single stated maturity date and therefore have been included in the “Due after ten years” category.
Securities in Continuous Unrealized Loss Position	The table below indicates the length of time individual securities had been in a continuous unrealized loss position: Less than 12 Months 12 Months or Longer Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) March 31, 2023 Federal agency mortgage-backed securities $ 13,826 $ (562 ) $ 58,935 $ (9,257 ) $ 72,761 $ (9,819 ) Federal agency CMOs 20,691 (663 ) 5,058 (665 ) 25,749 (1,328 ) Federal agency debt 23,548 (580 ) 28,482 (3,124 ) 52,030 (3,704 ) Municipal bonds – – 4,299 (559 ) 4,299 (559 ) U. S. Treasuries 135,522 (2,615 ) 26,574 (1,544 ) 162,096 (4,159 ) SBA pools – – 10,106 (1,589 ) 10,106 (1,589 ) Total unrealized loss position investment securities $ 193,587 $ (4,420 ) $ 133,454 $ (16,738 ) $ 327,041 $ (21,158 ) December 31, 2022: Federal agency mortgage-backed securities $ 38,380 $ (4,807 ) $ 35,526 $ (5,981 ) $ 73,906 $ (10,788 ) Federal agency CMOs 20,997 (885 ) 5,103 (791 ) 26,100 (1,676 ) Federal agency debt 26,383 (1,529 ) 21,956 (2,759 ) 48,339 (4,288 ) Municipal bonds 2,176 (315 ) 2,021 (354 ) 4,197 (669 ) U. S. Treasuries 143,989 (3,884 ) 16,600 (1,524 ) 160,589 (5,408 ) SBA pools 3,743 (365 ) 6,763 (1,423 ) 10,506 (1,788 ) Total unrealized loss position investment securities $ 235,668 $ ( 11,785 ) $ 87,969 $ ( 12,832 ) $ 323,637 $ ( 24,617 )

Loans Receivable Held for Inv_2

Loans Receivable Held for Investment (Tables)	3 Months Ended
	Mar. 31, 2023
Loans Receivable Held for Investment [Abstract]
Loans Receivable Held for Investment	Loans receivable held for investment were as follows as of the dates indicated: March 31, 2023 December 31, 2022 (In thousands) Real estate: Single family $ 29,216 $ 30,038 Multi-family 509,514 502,141 Commercial real estate 129,031 114,574 Church 13,983 15,780 Construction 59,143 40,703 Commercial – other 37,354 64,841 SBA loans (1) 3,565 3,601 Consumer 10 11 Gross loans receivable before deferred loan costs and premiums 781,816 771,689 Unamortized net deferred loan costs and premiums 1,532 1,755 Gross loans receivable 783,348 773,444 Credit and interest marks on purchased loans, net (1,010 ) (1,010 ) Allowance for credit losses (2) (6,285 ) (4,388 ) Loans receivable, net $ 776,053 $ 768,046 (1) Including Paycheck Protection Program (PPP) loans. (2) The allowance for credit losses as of December 31, 2022 was accounted for under ASC 450 and ASC 310, which is reflective of probable incurred losses as of the date of the consolidated statement of financial condition. Effective January 1, 2023, the allowance for credit losses is accounted for under ASC 326, which is reflective of estimated expected lifetime credit losses.
Carrying Amount of Purchased Credit Impaired Loans	The carrying amount of those loans was as follows: March 31, 2023 December 31, 2022 Real estate: (In thousands) Single family $ 68 $ 68 Commercial – other 57 57 $ 125 $ 125
Accretable yield on Purchased Credit Impaired Loans	The following table summarizes the discount on the PCI loans for the three months ended: March 31, 2023 March 31, 2022 (In thousands) Balance at the beginning of the period $ 165 $ 883 Deduction due to payoffs – (707 ) Accretion – (11 ) Balance at the end of the period $ 165 $ 165
Activity in Allowance for Credit Losses on Loans	The following tables summarize the activity in the allowance for credit losses on loans for the period indicated: March 31 2023 Beginning Balance Impact of CECL Adoption Charge-offs Recoveries Provision (benefit) Ending Balance ( In thousands Loans receivable held for investment: Single family $ 109 $ 214 $ – $ – $ ( 62 ) $ 261 Multi-family 3,273 603 – – 56 3,932 Commercial real estate 449 466 – – 97 1,012 Church 65 37 – – ( 10 ) 92 Construction 313 219 – – 61 593 Commercial - other 175 254 – – ( 72 ) 357 SBA loans – 20 – – 18 38 Consumer 4 ( 4 ) – – – – Total $ 4,388 $ 1,809 $ – $ – $ 88 $ 6,285 The following tables present the activity in the allowance for loan losses by loan type for the period indicated: For the Three Months Ended March 31, 2022 Real Estate Single Family Multi- Family Commercial Real Estate Church Construction Commercial - Other Consumer Total (In thousands) Beginning balance $ 145 $ 2,657 $ 236 $ 103 $ 212 $ 23 $ 15 $ 3,391 Provision for (recapture of) loan losses 12 114 (20 ) (40 ) 25 57 – 148 Recoveries – – – – – – – – Loans charged off – – – – – – – – Ending balance $ 157 $ 2,771 $ 216 $ 63 $ 237 $ 80 15 3,539
Collateral Dependent Loans By Collateral Type	The following table presents collateral dependent loans by collateral type as of the date indicated: March 31, 2023 Single Family Condominium Church Business Assets Total Real estate: (In thousands) Single family $ 53 $ 112 $ – $ – $ 165 Commercial real estate – – 78 – 78 Church – – 695 – 695 Commercial – other – – – 281 281 Total $ 53 $ 112 $ 773 $ 281 $ 1,219
Allowance for Loan Losses and Recorded Investment in Loans by Type of Loans and Based on Impairment Method	The following tables present the balance in the allowance for loan losses and the recorded investment (unpaid contractual principal balance less charge-offs, less interest applied to principal, plus unamortized deferred costs and premiums) by loan type and based on impairment method as of the date indicated: December 31, 2022 Real Estate Single Family Multi- Commercial Real Estate Church Construction Commercial - Other Consumer Total (In thousands) Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 3 $ – $ – $ 4 $ – $ – $ – $ 7 Collectively evaluated for impairment 106 3,273 449 61 313 175 4 4,381 Total ending allowance balance $ 109 $ 3,273 $ 449 $ 65 $ 313 $ 175 $ 4 $ 4,388 Loans: Loans individually evaluated for impairment $ 57 $ – $ – $ 1,655 $ – $ – $ – $ 1,712 Loans collectively evaluated for impairment 20,893 462,539 63,929 9,008 38,530 29,558 11 624,468 Subtotal 20,950 462,539 63,929 10,663 38,530 29,558 11 626,180 Loans acquired in the Merger 9,088 41,357 50,645 5,117 2,173 38,884 – 147,264 Total ending loans balance $ 30,038 $ 503,896 $ 114,574 $ 15,780 $ 40,703 $ 68,442 $ 11 $ 773,444
Loans Individually Evaluated for Impairment by Loan Type	The following table presents information related to loans individually evaluated for impairment by loan type as of the date indicated: December 31, 2022 Unpaid Recorded Investment Allowance for Loan Losses Allocated (In thousands) With no related allowance recorded: Church $ 1,572 $ 1,572 $ – With an allowance recorded: Single family 57 57 3 Church 83 83 4 Total $ 1,712 $ 1,712 $ 7
Average of Loans Individually Evaluated for Impairment by Loan Type and Related Interest Income	The following tables present the monthly average of loans individually evaluated for impairment by loan type and the related interest income for the period indicated: Three Months Ended March 31, 2022 Average Recorded Investment Cash Basis Interest Income Recognized (In thousands) Single family $ 64 $ 1 Multi-family 279 5 Church 2,535 25 Total $ 2,878 $ 31
Aging of Recorded Investment in Past Due Loans by Loan Type	The following tables present the aging of the recorded investment in past due loans by loan type as of the dates indicated: March 31, 2023 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Current Total (In thousands) Loans receivable held for investment: Single family $ – $ – $ – $ – $ 29,216 $ 29,216 Multi-family 406 – – 406 510,640 511,046 Commercial real estate – – – – 129,031 129,031 Church – – – – 13,983 13,983 Construction – – – – 59,143 59,143 Commercial - other – – – – 37,354 37,354 SBA loans – – – – 3,565 3,565 Consumer – – – – 10 10 Total $ 406 $ – $ – $ 406 $ 782,942 $ 783,348 December 31, 2022 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Current Total (In thousands) Loans receivable held for investment: Single family $ – $ – $ – $ – $ 30,038 $ 30,038 Multi-family – – – – 503,896 503,896 Commercial real estate – – – – 114,574 114,574 Church – – – – 15,780 15,780 Construction – – – – 40,703 40,703 Commercial - other – – – – 64,841 64,841 SBA loans – – – – 3,601 3,601 Consumer – – – – 11 11 Total $ – $ – $ – $ – $ 773,444 $ 773,444
Recorded Investment in Non-accrual Loans by Loan Type	The following table presents the recorded investment in non-accrual loans by loan type as of the dates indicated: March 31, 2023 December 31, 2022 (In thousands) Loans receivable held for investment: Church $ – $ 144 Total non-accrual loans $ – $ 144
Loans Held for Investment Portfolio By Internal Risk Grading and By Year of Origination	The following table stratifies the loans held for investment portfolio by the Company’s internal risk grading, and by year of origination as of the date indicated: Term Loans Amortized Cost Basis by Origination Year - As of March 31, 2023 2023 2022 2021 2020 2019 Prior Revolving Loans Total (In thousands) Single family: Pass $ – $ 2,517 $ 2,663 $ 4,399 $ 1,833 $ 16,798 $ – $ 28,210 Watch – – – – – 349 – 349 Special Mention – – – – – 258 – 258 Substandard – – – – – 399 – 399 Total $ – $ 2,517 $ 2,663 $ 4,399 $ 1,833 $ 17,804 $ – $ 29,216 Multi-family: Pass $ 13,179 $ 187,621 $ 154,166 $ 27,839 $ 46,232 $ 57,980 $ – $ 487,017 Watch – 3,300 915 – – 3,453 – 7,668 Special Mention – – – – – 1,775 – 1,775 Substandard – – – – 760 13,826 – 14,586 Total $ 13,179 $ 190,921 $ 155,081 $ 27,839 $ 46,992 $ 77,034 $ – $ 511,046 Commercial real estate: Pass $ 2,835 $ 22,571 $ 26,181 $ 30,678 $ 6,430 $ 32,719 $ – $ 121,414 Watch – 432 – – 740 1,101 – 2,273 Special Mention – – – – – – – – Substandard – – – $ – $ – 5,344 $ – $ 5,344 Total $ 2,835 $ 23,003 $ 26,181 $ 30,678 $ 7,170 $ 39,164 $ – $ 129,031 Church: Pass $ – $ – $ 2,247 $ 1,785 $ – $ 7,188 $ – $ 11,220 Watch – – – – 649 1,120 – 1,769 Special Mention – – – – – – – – Substandard – – – – – 994 – 994 Total $ – $ – $ 2,247 $ 1,785 $ 649 $ 9,302 $ – $ 13,983 Construction: Pass $ 995 $ – $ 1,219 $ – $ – $ 2,154 $ – $ 4,368 Watch 17,495 30,012 7,268 – – – – 54,775 Special Mention – – – – – – – – Substandard – – – – – – – – Total $ 18,490 $ 30,012 $ 8,487 $ – $ – $ 2,154 $ – $ 59,143 Commercial – others: Pass $ – $ 7,611 $ 175 $ 1,404 $ 4,300 $ 5,784 $ 6,568 $ 25,842 Watch – 1,205 107 1,500 2,250 5,532 637 11,231 Special Mention – – – – – – – – Substandard – – – – – 281 – 281 Total $ – $ 8,816 $ 282 $ 2,904 $ 6,550 $ 11,597 $ 7,205 $ 37,354 SBA: Pass $ – $ 148 $ 2,723 $ – $ 28 $ 128 $ – $ 3,027 Watch – – – – – – – – Special Mention – – – 538 – – – 538 Substandard – – – – – – – – Total $ – $ 148 $ 2,723 $ 538 $ 28 $ 128 $ – $ 3,565 Consumer: Pass $ 10 $ – $ – $ – $ – $ – $ – $ 10 Watch – – – – – – – – Special Mention – – – – – – – – Substandard – – – – – – – – Total $ 10 $ – $ – $ – $ – $ – $ – $ 10 Total loans: Pass $ 17,019 $ 220,468 $ 189,374 $ 66,105 $ 58,823 $ 122,751 $ 6,568 $ 681,108 Watch 17,495 34,949 8,290 1,500 3,639 11,555 637 78,065 Special Mention – – – 538 – 2,033 – 2,571 Substandard – – – – 760 20,844 – 21,604 Total loans $ 34,514 $ 255,417 $ 197,664 $ 68,143 $ 63,222 $ 157,183 $ 7,205 $ 783,348 The following table stratifies the loan portfolio by the Company’s internal risk rating as of the date indicated: December 31, 2022 Pass Watch Special Mention Substandard Doubtful Loss Total Single family $ 29,022 $ 354 $ 260 $ 402 $ – $ – $ 30,038 Multi-family 479,182 9,855 14,859 – – – 503,896 Commercial real estate 104,066 4,524 1,471 4,513 – – 114,574 Church 14,505 728 – 547 – – 15,780 Construction 2,173 38,530 – – – – 40,703 Commercial – 53,396 11,157 – 288 – – 64,841 SBA 3,032 569 – – – – 3,601 Consumer 11 – – – – – 11 Total $ 685,387 $ 65,717 $ 16,590 $ 5,750 $ – $ – $ 773,444

Goodwill and Core Deposit Int_2

Goodwill and Core Deposit Intangible (Tables)	3 Months Ended
	Mar. 31, 2023
Goodwill and Core Deposit Intangible [Abstract]
Changes in Carrying Amounts of Goodwill and Core Deposit Intangibles	The following table presents the changes in the carrying amounts of goodwill and core deposit intangibles for the three months ended March 31, 2023: Goodwill Core Deposit Intangible (In thousands) Balance at the beginning of the period $ 25,858 $ 2,501 Additions – – Change in deferred tax estimate – – Amortization – (98 ) Balance at the end of the period $ 25,858 $ 2,403
Components of Carrying Value and Accumulated Amortization of Core Deposit Intangible	The carrying amount of the core deposit intangible consisted of the following at March Core deposit intangible acquired $ 3,329 Less: accumulated amortization (926 ) $ 2,403
Estimated Amortization Expense for Core Deposit Intangible	The following table outlines the estimated amortization expense for the core deposit intangible during the next five fiscal years (in thousands): 2023 $ 292 2024 336 2025 315 2026 304 2027 291 Thereafter 865 $ 2,403

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value [Abstract]
Assets Measured on Recurring Basis	Assets measured at fair value on a recurring basis are summarized below: Fair Value Measurement Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total (In thousands) At March 31, 2023: Securities available-for-sale: Federal agency mortgage-backed $ – $ 73,017 $ – $ 73,017 Federal agency CMO – 25,749 – 25,749 Federal agency debt – 52,030 – 52,030 Municipal bonds – 4,299 – 4,299 U.S. Treasuries 162,096 – – 162,096 SBA pools – 11,835 – 11,835 At December 31, 2022: Securities available-for-sale: Federal agency mortgage-backed $ – $ 74,169 $ – $ 74,169 Federal agency CMO – 26,100 – 26,100 Federal agency debt – 51,425 – 51,425 Municipal bonds – 4,197 – 4,197 U.S. Treasuries 160,589 – – 160,589 SBA pools – 12,269 – 12,269
Fair Values of Financial Instruments	The following tables present the carrying amount, fair value, and placement in the fair value hierarchy of the Company’s financial instruments not recorded at fair value on a recurring basis as of March 31, 2023 and December 31, 2022. Fair Value Measurements at March 31, 2023 Carrying Value Level 1 Level 2 Level 3 Total (In thousands) Financial Assets: Cash and cash equivalents $ 29,648 $ 29,648 $ – $ – $ 29,648 Securities available-for-sale 329,026 162,096 166,930 – 329,026 Loans receivable held for investment 776,053 – – 636,286 636,286 Accrued interest receivables 4,219 612 635 2,972 4,219 Bank owned life insurance 3,242 3,242 – – 3,242 Financial Liabilities: Deposits $ 657,542 $ – $ 596,064 $ – $ 596,064 FHLB advances 168,810 – 167,175 – 167,175 Securities sold under agreements to repurchase 70,941 – 67,423 – 67,423 Note payable 14,000 – – 14,000 14,000 Accrued interest payable 368 – 368 – 368 Fair Value Measurements at December 31, 2022 Carrying Value Level 1 Level 2 Level 3 Total (In thousands) Financial Assets: Cash and cash equivalents $ 16,105 $ 16,105 $ – $ – $ 16,105 Securities available-for-sale 328,749 160,589 168,160 – 328,749 Loans receivable held for investment 768,046 – – 641,088 641,088 Accrued interest receivables 3,973 442 793 2,738 3,973 Bank owned life insurance 3,233 3,233 – – 3,233 Financial Liabilities: Deposits $ 686,916 $ – $ 673,615 $ – $ 673,615 FHLB advances 128,344 – 126,328 – 126,328 Securities sold under agreements to repurchase 63,471 – 60,017 – 60,017 Note payable 14,000 – – 14,000 14,000 Accrued interest payable 453 – 453 – 453

Stock-based Compensation (Table

Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2023
Stock-based Compensation [Abstract]
Summary of Stock Option Activity	The following table summarizes stock option activity during the three months ended March 31, 2023: March 31, 2023 Number Outstanding Weighted Average Exercise Price Outstanding at beginning of period 250,000 $ 1.62 Granted during period – – Exercised during period – – Forfeited or expired during period – – Outstanding at end of period 250,000 $ 1.62 Exercisable at end of period 250,000 $ 1.62
Options Outstanding and Exercisable	Options outstanding and exercisable at March 31, 2023 were as follows: Outstanding Exercisable Number Outstanding Weighted Average Remaining Contractual Life Weighted Average Exercise Price Aggregate Intrinsic Value Number Outstanding Weighted Average Exercise Price Aggregate Intrinsic Value 250,000 2.88 years $ 1.62 $ – 250,000 $ 1.62 $ –

ESOP Plan (Tables)

ESOP Plan (Tables)	3 Months Ended
	Mar. 31, 2023
ESOP Plan [Abstract]
Shares Held by ESOP	Shares held by the ESOP were as follows: March 31, 2023 December 31, 2022 (Dollars in thousands) Allocated to participants 1,057,504 1,057,504 Committed to be released 19,784 9,892 Suspense shares 3,003,938 948,488 Total ESOP shares 4,081,226 2,015,884 Fair value of unearned shares $ 3,545 $ 1,015

Stockholders' Equity and Regu_2

Stockholders' Equity and Regulatory Matters (Tables)	3 Months Ended
	Mar. 31, 2023
Stockholders' Equity and Regulatory Matters [Abstract]
Actual and Required Capital Amounts and Ratios	Actual and required capital amounts and ratios as of the dates indicated are presented below: Actual Minimum Required to Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio (Dollars in thousands) March 31 2023 Community Bank Leverage Ratio $ 181,562 15.69 % $ 104,174 9.00 % December 31 2022 Community Bank Leverage Ratio $ 181,304 15.75 % $ 103,591 9.00 %

Basis of Financial Statement _4

Basis of Financial Statement Presentation (Details) - USD ($) $ in Thousands	Mar. 31, 2023		Dec. 31, 2022		Mar. 31, 2022	Dec. 31, 2021
Assets [Abstract]
Allowance for credit losses on loans	$ 6,285	[1]	$ 4,388	[1]	$ 3,539	$ 3,391
Deferred tax assets	10,823		11,872
Liabilities [Abstract]
Allowance for credit losses on off-balance sheet exposures	367		412
Stockholders' equity [Abstract]
Retained earnings	$ 9,611		9,294
ASU 2016-13 [Member]
Assets [Abstract]
Allowance for credit losses on available-for-sale securities			0
Allowance for credit losses on loans			6,197
Deferred tax assets			12,380
Liabilities [Abstract]
Allowance for credit losses on off-balance sheet exposures			367
Stockholders' equity [Abstract]
Retained earnings			8,038
Pre-CECL Adoption [Member]
Assets [Abstract]
Allowance for credit losses on available-for-sale securities			0
Allowance for credit losses on loans			4,388
Deferred tax assets			11,872
Liabilities [Abstract]
Allowance for credit losses on off-balance sheet exposures			412
Stockholders' equity [Abstract]
Retained earnings			9,294
Impact of CECL Adoption [Member] | ASU 2016-13 [Member]
Assets [Abstract]
Allowance for credit losses on available-for-sale securities			0
Allowance for credit losses on loans			1,809
Deferred tax assets			508
Liabilities [Abstract]
Allowance for credit losses on off-balance sheet exposures			(45)
Stockholders' equity [Abstract]
Retained earnings			$ (1,256)
[1]The allowance for credit losses as of December 31, 2022 was accounted for under ASC 450 and ASC 310, which is reflective of probable incurred losses as of the date of the consolidated statement of financial condition. Effective January 1, 2023, the allowance for credit losses is accounted for under ASC 326, which is reflective of estimated expected lifetime credit losses.

Earnings Per Share of Common _3

Earnings Per Share of Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share of Common Stock [Abstract]
Net income attributable to Broadway Financial Corporation	$ 1,573	$ 958
Less net income attributable to participating securities	7	7
Income available to common stockholders	$ 1,566	$ 951
Weighted average common shares outstanding for basic earnings per common share (in shares)	71,442,163	72,039,378
Add: dilutive effects of unvested restricted stock awards (in shares)	323,024	50,195
Add: dilutive effects of assumed exercise of stock options (in shares)	0	490,372
Weighted average common shares outstanding for diluted earnings per common share (in shares)	71,765,187	72,579,945
Earnings per common share-basic (in dollars per share)	$ 0.02	$ 0.01
Earnings per common share-diluted (in dollars per share)	$ 0.02	$ 0.01

Securities, Available-for-Sale

Securities, Available-for-Sale Investment Securities Portfolios (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Available-for-Sale Investment Securities Portfolios [Abstract]
Amortized cost	$ 350,173	$ 353,329
Gross unrealized gains	11	37
Gross unrealized losses	(21,158)	(24,617)
Fair value	329,026	328,749
Federal Agency Mortgage-backed Securities [Member]
Available-for-Sale Investment Securities Portfolios [Abstract]
Amortized cost	82,834	84,955
Gross unrealized gains	2	2
Gross unrealized losses	(9,819)	(10,788)
Fair value	73,017	74,169
Federal Agency Collateralized Mortgage Obligations (CMO) [Member]
Available-for-Sale Investment Securities Portfolios [Abstract]
Amortized cost	27,077	27,776
Gross unrealized gains	0	0
Gross unrealized losses	(1,328)	(1,676)
Fair value	25,749	26,100
Federal Agency Debt [Member]
Available-for-Sale Investment Securities Portfolios [Abstract]
Amortized cost	55,734	55,687
Gross unrealized gains	0	26
Gross unrealized losses	(3,704)	(4,288)
Fair value	52,030	51,425
Municipal Bonds [Member]
Available-for-Sale Investment Securities Portfolios [Abstract]
Amortized cost	4,858	4,866
Gross unrealized gains	0	0
Gross unrealized losses	(559)	(669)
Fair value	4,299	4,197
U.S. Treasuries [Member]
Available-for-Sale Investment Securities Portfolios [Abstract]
Amortized cost	166,255	165,997
Gross unrealized gains	0	0
Gross unrealized losses	(4,159)	(5,408)
Fair value	162,096	160,589
SBA Pools [Member]
Available-for-Sale Investment Securities Portfolios [Abstract]
Amortized cost	13,415	14,048
Gross unrealized gains	9	9
Gross unrealized losses	(1,589)	(1,788)
Fair value	$ 11,835	$ 12,269

Securities, Additional Disclosu

Securities, Additional Disclosure (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Securities Available-for-Sale [Abstract]
Securities collateral pledged	$ 87,600	$ 64,400
Securities of any one issuer, other than U.S. Government, exceeding 10% of stockholders' equity	0	0
Asset Pledged as Collateral [Member] | Deposits [Member]
Debt Securities Available-for-Sale [Abstract]
Securities pledged to secure public deposits	0	0
U.S. Treasuries [Member]
Debt Securities Available-for-Sale [Abstract]
Securities collateral pledged	33,900	19,200
U.S. Government Agency Securities [Member]
Debt Securities Available-for-Sale [Abstract]
Securities collateral pledged	26,000	33,300
Mortgage Backed Securities [Member]
Debt Securities Available-for-Sale [Abstract]
Securities collateral pledged	22,200
SBA Pools [Member]
Debt Securities Available-for-Sale [Abstract]
Securities collateral pledged	5,300
Federal Agency Collateralized Mortgage Obligations (CMO) [Member]
Debt Securities Available-for-Sale [Abstract]
Securities collateral pledged	$ 273
Federal Agency Mortgage-backed Securities [Member]
Debt Securities Available-for-Sale [Abstract]
Securities collateral pledged		$ 11,900

Securities, Contractual Maturit

Securities, Contractual Maturities (Details) - USD ($) $ in Thousands		Mar. 31, 2023	Dec. 31, 2022
Available for sale, amortized cost [Abstract]
Due in one year or less		$ 24,876
Due after one year through five years		194,958
Due after five years through ten years		35,270
Due after ten years	[1]	95,069
Amortized cost		350,173	$ 353,329
Available for sale, gross unrealized gains [Abstract]
Due in one year or less		0
Due after one year through five years		0
Due after five years through ten years		0
Due after ten years	[1]	11
Gross unrealized gains		11	37
Available for sale, gross unrealized loss [Abstract]
Due in one year or less		(493)
Due after one year through five years		(6,682)
Due after five years through ten years		(2,839)
Due after ten years	[1]	(11,144)
Gross unrealized losses		(21,158)	(24,617)
Available for sale, fair value [Abstract]
Due in one year or less		24,383
Due after one year through five years		188,276
Due after five years through ten years		32,431
Due after ten years	[1]	83,936
Fair value		$ 329,026	$ 328,749
[1] Mortgage-backed securities, collateralized mortgage obligations and SBA pools do not have a single stated maturity date and therefore have been included in the “Due after ten years” category.

Securities, Unrealized Loss Pos

Securities, Unrealized Loss Position (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Debt Securities Available-for-Sale, Unrealized Loss Position [Abstract]
Less than 12 months, fair value	$ 193,587	$ 235,668
More than 12 months, fair value	133,454	87,969
Total, fair value	327,041	323,637
Less than 12 months, unrealized losses	(4,420)	(11,785)
More than 12 months, unrealized losses	(16,738)	(12,832)
Total, unrealized losses	(21,158)	(24,617)
Debt Securities Available-for-Sale [Abstract]
Securities in nonaccrual status	0	0
Securities purchased with deterioration in credit quality	0	0
Collateral dependent securities	0	0
Federal Agency Mortgage-backed Securities [Member]
Debt Securities Available-for-Sale, Unrealized Loss Position [Abstract]
Less than 12 months, fair value	13,826	38,380
More than 12 months, fair value	58,935	35,526
Total, fair value	72,761	73,906
Less than 12 months, unrealized losses	(562)	(4,807)
More than 12 months, unrealized losses	(9,257)	(5,981)
Total, unrealized losses	(9,819)	(10,788)
Federal Agency Collateralized Mortgage Obligations (CMO) [Member]
Debt Securities Available-for-Sale, Unrealized Loss Position [Abstract]
Less than 12 months, fair value	20,691	20,997
More than 12 months, fair value	5,058	5,103
Total, fair value	25,749	26,100
Less than 12 months, unrealized losses	(663)	(885)
More than 12 months, unrealized losses	(665)	(791)
Total, unrealized losses	(1,328)	(1,676)
Federal Agency Debt [Member]
Debt Securities Available-for-Sale, Unrealized Loss Position [Abstract]
Less than 12 months, fair value	23,548	26,383
More than 12 months, fair value	28,482	21,956
Total, fair value	52,030	48,339
Less than 12 months, unrealized losses	(580)	(1,529)
More than 12 months, unrealized losses	(3,124)	(2,759)
Total, unrealized losses	(3,704)	(4,288)
Municipal Bonds [Member]
Debt Securities Available-for-Sale, Unrealized Loss Position [Abstract]
Less than 12 months, fair value	0	2,176
More than 12 months, fair value	4,299	2,021
Total, fair value	4,299	4,197
Less than 12 months, unrealized losses	0	(315)
More than 12 months, unrealized losses	(559)	(354)
Total, unrealized losses	(559)	(669)
US Treasuries [Member]
Debt Securities Available-for-Sale, Unrealized Loss Position [Abstract]
Less than 12 months, fair value	135,522	143,989
More than 12 months, fair value	26,574	16,600
Total, fair value	162,096	160,589
Less than 12 months, unrealized losses	(2,615)	(3,884)
More than 12 months, unrealized losses	(1,544)	(1,524)
Total, unrealized losses	(4,159)	(5,408)
SBA Pools [Member]
Debt Securities Available-for-Sale, Unrealized Loss Position [Abstract]
Less than 12 months, fair value	0	3,743
More than 12 months, fair value	10,106	6,763
Total, fair value	10,106	10,506
Less than 12 months, unrealized losses	0	(365)
More than 12 months, unrealized losses	(1,589)	(1,423)
Total, unrealized losses	$ (1,589)	$ (1,788)

Loans Receivable Held for Inv_3

Loans Receivable Held for Investment, Summary (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2023		Dec. 31, 2022		Mar. 31, 2022	Dec. 31, 2021
Loans Receivable Held for Investment [Abstract]
Gross loans receivable before deferred loan costs and premiums		$ 781,816		$ 771,689
Unamortized net deferred loan costs and premiums		1,532		1,755
Gross loans receivable		783,348		773,444
Credit and interest marks on purchased loans, net		(1,010)		(1,010)
Allowance for credit losses		(6,285)	[1]	(4,388)	[1]	$ (3,539)	$ (3,391)
Loans receivable, net		776,053		768,046
Real Estate [Member] | Single Family [Member]
Loans Receivable Held for Investment [Abstract]
Gross loans receivable before deferred loan costs and premiums		29,216		30,038
Gross loans receivable		29,216		30,038
Allowance for credit losses		(261)		(109)		(157)	(145)
Real Estate [Member] | Multi-Family [Member]
Loans Receivable Held for Investment [Abstract]
Gross loans receivable before deferred loan costs and premiums		509,514		502,141
Gross loans receivable		511,046		503,896
Allowance for credit losses		(3,932)		(3,273)		(2,771)	(2,657)
Real Estate [Member] | Commercial Real Estate [Member]
Loans Receivable Held for Investment [Abstract]
Gross loans receivable before deferred loan costs and premiums		129,031		114,574
Gross loans receivable		129,031		114,574
Allowance for credit losses		(1,012)		(449)		(216)	(236)
Real Estate [Member] | Church [Member]
Loans Receivable Held for Investment [Abstract]
Gross loans receivable before deferred loan costs and premiums		13,983		15,780
Gross loans receivable		13,983		15,780
Allowance for credit losses		(92)		(65)		(63)	(103)
Real Estate [Member] | Construction [Member]
Loans Receivable Held for Investment [Abstract]
Gross loans receivable before deferred loan costs and premiums		59,143		40,703
Gross loans receivable		59,143		40,703
Allowance for credit losses		(593)		(313)		(237)	(212)
Commercial - Other [Member]
Loans Receivable Held for Investment [Abstract]
Gross loans receivable before deferred loan costs and premiums		37,354		64,841
Gross loans receivable				68,442
Allowance for credit losses		(357)		(175)		(80)	(23)
Commercial - Other [Member] | PPP Loans [Member]
Loans Receivable Held for Investment [Abstract]
Gross loans receivable before deferred loan costs and premiums		$ 2,700		2,700
Loans receivable, interest rate		1%
Commercial - Other [Member] | PPP Loans [Member] | Minimum [Member]
Loans Receivable Held for Investment [Abstract]
Loans receivable, term		2 years
Commercial - Other [Member] | PPP Loans [Member] | Maximum [Member]
Loans Receivable Held for Investment [Abstract]
Loans receivable, term		5 years
SBA Loans [Member]
Loans Receivable Held for Investment [Abstract]
Gross loans receivable before deferred loan costs and premiums	[2]	$ 3,565		3,601
Gross loans receivable		3,565		3,601
Allowance for credit losses		(38)		0
Consumer [Member]
Loans Receivable Held for Investment [Abstract]
Gross loans receivable before deferred loan costs and premiums		10		11
Gross loans receivable		10		11
Allowance for credit losses		$ 0		$ (4)		$ (15)	$ (15)
[1]The allowance for credit losses as of December 31, 2022 was accounted for under ASC 450 and ASC 310, which is reflective of probable incurred losses as of the date of the consolidated statement of financial condition. Effective January 1, 2023, the allowance for credit losses is accounted for under ASC 326, which is reflective of estimated expected lifetime credit losses.[2] Including Paycheck Protection Program (PPP) loans.

Loans Receivable Held for Inv_4

Loans Receivable Held for Investment, Purchased Credit Impaired (PCI) Loans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Purchased Credit Impaired Loans [Abstract]
Loans receivable	$ 776,053		$ 768,046
Purchased Credit Impaired Loans [Member]
Accretable Yield on Purchased Credit Impaired Loans [Roll Forward]
Balance at the beginning of the period	165	$ 883
Deduction due to payoffs	0	(707)
Accretion	0	(11)
Balance at the end of the period	165	$ 165
Real Estate [Member] | Purchased Credit Impaired Loans [Member]
Purchased Credit Impaired Loans [Abstract]
Loans receivable	125		125
Real Estate [Member] | Single Family [Member] | Purchased Credit Impaired Loans [Member]
Purchased Credit Impaired Loans [Abstract]
Loans receivable	68		68
Commercial - Other [Member] | Purchased Credit Impaired Loans [Member]
Purchased Credit Impaired Loans [Abstract]
Loans receivable	$ 57		$ 57

Loans Receivable Held for Inv_5

Loans Receivable Held for Investment, Activity in Allowance for Credit Losses on Loans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023		Mar. 31, 2022
Allowance for Credit Losses on Loans [Roll Forward]
Beginning balance	$ 4,388	[1]	$ 3,391
Charge-offs	0		0
Recoveries	0		0
Provision (benefit)	88		148
Ending balance	6,285	[1]	3,539
Real Estate [Member] | Single Family [Member]
Allowance for Credit Losses on Loans [Roll Forward]
Beginning balance	109		145
Charge-offs	0		0
Recoveries	0		0
Provision (benefit)	(62)		12
Ending balance	261		157
Real Estate [Member] | Multi-Family [Member]
Allowance for Credit Losses on Loans [Roll Forward]
Beginning balance	3,273		2,657
Charge-offs	0		0
Recoveries	0		0
Provision (benefit)	56		114
Ending balance	3,932		2,771
Real Estate [Member] | Commercial Real Estate [Member]
Allowance for Credit Losses on Loans [Roll Forward]
Beginning balance	449		236
Charge-offs	0		0
Recoveries	0		0
Provision (benefit)	97		(20)
Ending balance	1,012		216
Real Estate [Member] | Church [Member]
Allowance for Credit Losses on Loans [Roll Forward]
Beginning balance	65		103
Charge-offs	0		0
Recoveries	0		0
Provision (benefit)	(10)		(40)
Ending balance	92		63
Real Estate [Member] | Construction [Member]
Allowance for Credit Losses on Loans [Roll Forward]
Beginning balance	313		212
Charge-offs	0		0
Recoveries	0		0
Provision (benefit)	61		25
Ending balance	593		237
Commercial - Other [Member]
Allowance for Credit Losses on Loans [Roll Forward]
Beginning balance	175		23
Charge-offs	0		0
Recoveries	0		0
Provision (benefit)	(72)		57
Ending balance	357		80
SBA Loans [Member]
Allowance for Credit Losses on Loans [Roll Forward]
Beginning balance	0
Charge-offs	0
Recoveries	0
Provision (benefit)	18
Ending balance	38
Consumer [Member]
Allowance for Credit Losses on Loans [Roll Forward]
Beginning balance	4		15
Charge-offs	0		0
Recoveries	0		0
Provision (benefit)	0		0
Ending balance	0		$ 15
ASU 2016-13 [Member]
Allowance for Credit Losses on Loans [Roll Forward]
Beginning balance	6,197
Cumulative Effect, Period of Adoption, Adjustment [Member] | ASU 2016-13 [Member]
Allowance for Credit Losses on Loans [Roll Forward]
Beginning balance	1,809
Cumulative Effect, Period of Adoption, Adjustment [Member] | ASU 2016-13 [Member] | Real Estate [Member] | Single Family [Member]
Allowance for Credit Losses on Loans [Roll Forward]
Beginning balance	214
Cumulative Effect, Period of Adoption, Adjustment [Member] | ASU 2016-13 [Member] | Real Estate [Member] | Multi-Family [Member]
Allowance for Credit Losses on Loans [Roll Forward]
Beginning balance	603
Cumulative Effect, Period of Adoption, Adjustment [Member] | ASU 2016-13 [Member] | Real Estate [Member] | Commercial Real Estate [Member]
Allowance for Credit Losses on Loans [Roll Forward]
Beginning balance	466
Cumulative Effect, Period of Adoption, Adjustment [Member] | ASU 2016-13 [Member] | Real Estate [Member] | Church [Member]
Allowance for Credit Losses on Loans [Roll Forward]
Beginning balance	37
Cumulative Effect, Period of Adoption, Adjustment [Member] | ASU 2016-13 [Member] | Real Estate [Member] | Construction [Member]
Allowance for Credit Losses on Loans [Roll Forward]
Beginning balance	219
Cumulative Effect, Period of Adoption, Adjustment [Member] | ASU 2016-13 [Member] | Commercial - Other [Member]
Allowance for Credit Losses on Loans [Roll Forward]
Beginning balance	254
Cumulative Effect, Period of Adoption, Adjustment [Member] | ASU 2016-13 [Member] | SBA Loans [Member]
Allowance for Credit Losses on Loans [Roll Forward]
Beginning balance	20
Cumulative Effect, Period of Adoption, Adjustment [Member] | ASU 2016-13 [Member] | Consumer [Member]
Allowance for Credit Losses on Loans [Roll Forward]
Beginning balance	$ (4)
[1]The allowance for credit losses as of December 31, 2022 was accounted for under ASC 450 and ASC 310, which is reflective of probable incurred losses as of the date of the consolidated statement of financial condition. Effective January 1, 2023, the allowance for credit losses is accounted for under ASC 326, which is reflective of estimated expected lifetime credit losses.

Loans Receivable Held for Inv_6

Loans Receivable Held for Investment, Collateral dependent loans by collateral type (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) Loan	Dec. 31, 2022 USD ($)
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	$ 783,348	$ 773,444
Individually evaluated loans based on the underlying value of collateral	$ 1,200
Number of loans individually evaluated using discounted cash flow approach | Loan	0
Collateral Pledged [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	$ 1,219
Collateral Pledged - Single Family [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	53
Collateral Pledged - Condominium [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	112
Collateral Pledged - Church [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	773
Collateral Pledged - Business Assets [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	281
Real Estate [Member] | Single Family [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	29,216	30,038
Real Estate [Member] | Single Family [Member] | Collateral Pledged [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	165
Real Estate [Member] | Single Family [Member] | Collateral Pledged - Single Family [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	53
Real Estate [Member] | Single Family [Member] | Collateral Pledged - Condominium [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	112
Real Estate [Member] | Single Family [Member] | Collateral Pledged - Church [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	0
Real Estate [Member] | Single Family [Member] | Collateral Pledged - Business Assets [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	0
Real Estate [Member] | Commercial Real Estate [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	129,031	114,574
Real Estate [Member] | Commercial Real Estate [Member] | Collateral Pledged [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	78
Real Estate [Member] | Commercial Real Estate [Member] | Collateral Pledged - Single Family [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	0
Real Estate [Member] | Commercial Real Estate [Member] | Collateral Pledged - Condominium [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	0
Real Estate [Member] | Commercial Real Estate [Member] | Collateral Pledged - Church [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	78
Real Estate [Member] | Commercial Real Estate [Member] | Collateral Pledged - Business Assets [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	0
Real Estate [Member] | Church [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	13,983	15,780
Real Estate [Member] | Church [Member] | Collateral Pledged [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	695
Real Estate [Member] | Church [Member] | Collateral Pledged - Single Family [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	0
Real Estate [Member] | Church [Member] | Collateral Pledged - Condominium [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	0
Real Estate [Member] | Church [Member] | Collateral Pledged - Church [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	695
Real Estate [Member] | Church [Member] | Collateral Pledged - Business Assets [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	0
Commercial - Other [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans		$ 68,442
Commercial - Other [Member] | Collateral Pledged [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	281
Commercial - Other [Member] | Collateral Pledged - Single Family [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	0
Commercial - Other [Member] | Collateral Pledged - Condominium [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	0
Commercial - Other [Member] | Collateral Pledged - Church [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	0
Commercial - Other [Member] | Collateral Pledged - Business Assets [Member]
Collateral Dependent Loans By Collateral Type [Abstract]
Total Loans	$ 281

Loans Receivable Held for Inv_7

Loans Receivable Held for Investment, Allowance for Loan Losses and Recorded Investment in Loans by Type of Loans and Based on Impairment Method (Details) - USD ($) $ in Thousands	Mar. 31, 2023		Dec. 31, 2022		Mar. 31, 2022	Dec. 31, 2021
Ending Allowance Balance Attributable to Loans [Abstract]
Individually evaluated for impairment			$ 7
Collectively evaluated for impairment			4,381
Total ending allowance balance	$ 6,285	[1]	4,388	[1]	$ 3,539	$ 3,391
Loans [Abstract]
Loans individually evaluated for impairment			1,712
Loans collectively evaluated for impairment			624,468
Subtotal			626,180
Loans acquired in the merger			147,264
Gross loans receivable	783,348		773,444
Real Estate [Member] | Single Family [Member]
Ending Allowance Balance Attributable to Loans [Abstract]
Individually evaluated for impairment			3
Collectively evaluated for impairment			106
Total ending allowance balance	261		109		157	145
Loans [Abstract]
Loans individually evaluated for impairment			57
Loans collectively evaluated for impairment			20,893
Subtotal			20,950
Loans acquired in the merger			9,088
Gross loans receivable	29,216		30,038
Real Estate [Member] | Multi-Family [Member]
Ending Allowance Balance Attributable to Loans [Abstract]
Individually evaluated for impairment			0
Collectively evaluated for impairment			3,273
Total ending allowance balance	3,932		3,273		2,771	2,657
Loans [Abstract]
Loans individually evaluated for impairment			0
Loans collectively evaluated for impairment			462,539
Subtotal			462,539
Loans acquired in the merger			41,357
Gross loans receivable	511,046		503,896
Real Estate [Member] | Commercial Real Estate [Member]
Ending Allowance Balance Attributable to Loans [Abstract]
Individually evaluated for impairment			0
Collectively evaluated for impairment			449
Total ending allowance balance	1,012		449		216	236
Loans [Abstract]
Loans individually evaluated for impairment			0
Loans collectively evaluated for impairment			63,929
Subtotal			63,929
Loans acquired in the merger			50,645
Gross loans receivable	129,031		114,574
Real Estate [Member] | Church [Member]
Ending Allowance Balance Attributable to Loans [Abstract]
Individually evaluated for impairment			4
Collectively evaluated for impairment			61
Total ending allowance balance	92		65		63	103
Loans [Abstract]
Loans individually evaluated for impairment			1,655
Loans collectively evaluated for impairment			9,008
Subtotal			10,663
Loans acquired in the merger			5,117
Gross loans receivable	13,983		15,780
Real Estate [Member] | Construction [Member]
Ending Allowance Balance Attributable to Loans [Abstract]
Individually evaluated for impairment			0
Collectively evaluated for impairment			313
Total ending allowance balance	593		313		237	212
Loans [Abstract]
Loans individually evaluated for impairment			0
Loans collectively evaluated for impairment			38,530
Subtotal			38,530
Loans acquired in the merger			2,173
Gross loans receivable	59,143		40,703
Commercial - Other [Member]
Ending Allowance Balance Attributable to Loans [Abstract]
Individually evaluated for impairment			0
Collectively evaluated for impairment			175
Total ending allowance balance	357		175		80	23
Loans [Abstract]
Loans individually evaluated for impairment			0
Loans collectively evaluated for impairment			29,558
Subtotal			29,558
Loans acquired in the merger			38,884
Gross loans receivable			68,442
Consumer [Member]
Ending Allowance Balance Attributable to Loans [Abstract]
Individually evaluated for impairment			0
Collectively evaluated for impairment			4
Total ending allowance balance	0		4		$ 15	$ 15
Loans [Abstract]
Loans individually evaluated for impairment			0
Loans collectively evaluated for impairment			11
Subtotal			11
Loans acquired in the merger			0
Gross loans receivable	$ 10		$ 11
[1]The allowance for credit losses as of December 31, 2022 was accounted for under ASC 450 and ASC 310, which is reflective of probable incurred losses as of the date of the consolidated statement of financial condition. Effective January 1, 2023, the allowance for credit losses is accounted for under ASC 326, which is reflective of estimated expected lifetime credit losses.

Loans Receivable Held for Inv_8

Loans Receivable Held for Investment, Loans Individually Evaluated for Impairment by Loan Type (Details) $ in Thousands	Dec. 31, 2022 USD ($)
With an Allowance Recorded [Abstract]
Allowance for loan losses allocated	$ 7
Total [Abstract]
Unpaid principal balance	1,712
Recorded investment	1,712
Real Estate [Member] | Single Family [Member]
With an Allowance Recorded [Abstract]
Unpaid principal balance	57
Recorded investment	57
Allowance for loan losses allocated	3
Real Estate [Member] | Church [Member]
With No Related Allowance Recorded [Abstract]
Unpaid principal balance	1,572
Recorded investment	1,572
With an Allowance Recorded [Abstract]
Unpaid principal balance	83
Recorded investment	83
Allowance for loan losses allocated	$ 4

Loans Receivable Held for Inv_9

Loans Receivable Held for Investment, Average of Loans Individually Evaluated for Impairment by Loan Type and Related Interest Income (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($)
Loans Individually Evaluated for Impairment by Loan Type and Related Interest Income [Abstract]
Average recorded investment	$ 2,878
Cash basis interest income recognized	31
Real Estate [Member] | Single Family [Member]
Loans Individually Evaluated for Impairment by Loan Type and Related Interest Income [Abstract]
Average recorded investment	64
Cash basis interest income recognized	1
Real Estate [Member] | Multi-Family [Member]
Loans Individually Evaluated for Impairment by Loan Type and Related Interest Income [Abstract]
Average recorded investment	279
Cash basis interest income recognized	5
Real Estate [Member] | Church [Member]
Loans Individually Evaluated for Impairment by Loan Type and Related Interest Income [Abstract]
Average recorded investment	2,535
Cash basis interest income recognized	$ 25

Loans Receivable Held for In_10

Loans Receivable Held for Investment, Aging of Recorded Investment in Past Due Loans by Loan Type (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	$ 783,348	$ 773,444
Total Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	406	0
30-59 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	406	0
60-89 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Greater than 90 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Current [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	782,942	773,444
Real Estate [Member] | Single Family [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	29,216	30,038
Real Estate [Member] | Single Family [Member] | Total Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Real Estate [Member] | Single Family [Member] | 30-59 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Real Estate [Member] | Single Family [Member] | 60-89 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Real Estate [Member] | Single Family [Member] | Greater than 90 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Real Estate [Member] | Single Family [Member] | Current [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	29,216	30,038
Real Estate [Member] | Multi-Family [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	511,046	503,896
Real Estate [Member] | Multi-Family [Member] | Total Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	406	0
Real Estate [Member] | Multi-Family [Member] | 30-59 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	406	0
Real Estate [Member] | Multi-Family [Member] | 60-89 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Real Estate [Member] | Multi-Family [Member] | Greater than 90 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Real Estate [Member] | Multi-Family [Member] | Current [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	510,640	503,896
Real Estate [Member] | Commercial Real Estate [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	129,031	114,574
Real Estate [Member] | Commercial Real Estate [Member] | Total Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Real Estate [Member] | Commercial Real Estate [Member] | 30-59 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Real Estate [Member] | Commercial Real Estate [Member] | 60-89 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Real Estate [Member] | Commercial Real Estate [Member] | Greater than 90 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Real Estate [Member] | Commercial Real Estate [Member] | Current [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	129,031	114,574
Real Estate [Member] | Church [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	13,983	15,780
Real Estate [Member] | Church [Member] | Total Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Real Estate [Member] | Church [Member] | 30-59 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Real Estate [Member] | Church [Member] | 60-89 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Real Estate [Member] | Church [Member] | Greater than 90 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Real Estate [Member] | Church [Member] | Current [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	13,983	15,780
Real Estate [Member] | Construction [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	59,143	40,703
Real Estate [Member] | Construction [Member] | Total Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Real Estate [Member] | Construction [Member] | 30-59 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Real Estate [Member] | Construction [Member] | 60-89 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Real Estate [Member] | Construction [Member] | Greater than 90 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Real Estate [Member] | Construction [Member] | Current [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	59,143	40,703
Commercial - Other [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	37,354	64,841
Commercial - Other [Member] | Total Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Commercial - Other [Member] | 30-59 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Commercial - Other [Member] | 60-89 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Commercial - Other [Member] | Greater than 90 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Commercial - Other [Member] | Current [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	37,354	64,841
SBA Loans [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	3,565	3,601
SBA Loans [Member] | Total Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
SBA Loans [Member] | 30-59 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
SBA Loans [Member] | 60-89 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
SBA Loans [Member] | Greater than 90 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
SBA Loans [Member] | Current [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	3,565	3,601
Consumer [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	10	11
Consumer [Member] | Total Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Consumer [Member] | 30-59 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Consumer [Member] | 60-89 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Consumer [Member] | Greater than 90 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Consumer [Member] | Current [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	$ 10	$ 11

Loans Receivable Held for In_11

Loans Receivable Held for Investment, Recorded Investment in Non-accrual Loans by Loan Type (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Loans Receivable Held for Investment [Abstract]
Total non-accrual loans	$ 0		$ 144
Foregone interest income	0	$ 17
Interest income on nonaccrual loans	286	$ 0
Loans 90 days or more delinquent that were accruing interest	0		0
Modifications made to borrowers experiencing financial difficulty	0
Real Estate [Member] | Church [Member]
Loans Receivable Held for Investment [Abstract]
Total non-accrual loans	$ 0		$ 144

Loans Receivable Held for In_12

Loans Receivable Held for Investment, Troubled Debt Restructurings (TDRs) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Troubled Debt Restructurings (TDRs) [Abstract]
Loans classified as troubled debt restructurings		$ 1,700
Specific reserves allocated to TDRs		7
Timely payment period for return to accrual status	6 months
Non-accrual Status [Member]
Troubled Debt Restructurings (TDRs) [Abstract]
Loans classified as troubled debt restructurings		144
Accrual Status [Member]
Troubled Debt Restructurings (TDRs) [Abstract]
Loans classified as troubled debt restructurings		$ 1,600

Loans Receivable Held for In_13

Loans Receivable Held for Investment, Internal Risk Grading, and by Year of Origination (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	$ 34,514
2022	255,417
2021	197,664
2020	68,143
2019	63,222
Prior	157,183
Revolving Loans	7,205
Total Loans	783,348	$ 773,444
Pass [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	17,019
2022	220,468
2021	189,374
2020	66,105
2019	58,823
Prior	122,751
Revolving Loans	6,568
Total Loans	681,108	685,387
Watch [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	17,495
2022	34,949
2021	8,290
2020	1,500
2019	3,639
Prior	11,555
Revolving Loans	637
Total Loans	78,065	65,717
Special Mention [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	0
2021	0
2020	538
2019	0
Prior	2,033
Revolving Loans	0
Total Loans	2,571	16,590
Substandard [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	0
2021	0
2020	0
2019	760
Prior	20,844
Revolving Loans	0
Total Loans	21,604	5,750
Real Estate [Member] | Single Family [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	2,517
2021	2,663
2020	4,399
2019	1,833
Prior	17,804
Revolving Loans	0
Total Loans	29,216	30,038
Real Estate [Member] | Single Family [Member] | Pass [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	2,517
2021	2,663
2020	4,399
2019	1,833
Prior	16,798
Revolving Loans	0
Total Loans	28,210	29,022
Real Estate [Member] | Single Family [Member] | Watch [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	349
Revolving Loans	0
Total Loans	349	354
Real Estate [Member] | Single Family [Member] | Special Mention [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	258
Revolving Loans	0
Total Loans	258	260
Real Estate [Member] | Single Family [Member] | Substandard [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	399
Revolving Loans	0
Total Loans	399	402
Real Estate [Member] | Multi-Family [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	13,179
2022	190,921
2021	155,081
2020	27,839
2019	46,992
Prior	77,034
Revolving Loans	0
Total Loans	511,046	503,896
Real Estate [Member] | Multi-Family [Member] | Pass [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	13,179
2022	187,621
2021	154,166
2020	27,839
2019	46,232
Prior	57,980
Revolving Loans	0
Total Loans	487,017	479,182
Real Estate [Member] | Multi-Family [Member] | Watch [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	3,300
2021	915
2020	0
2019	0
Prior	3,453
Revolving Loans	0
Total Loans	7,668	9,855
Real Estate [Member] | Multi-Family [Member] | Special Mention [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	1,775
Revolving Loans	0
Total Loans	1,775	14,859
Real Estate [Member] | Multi-Family [Member] | Substandard [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	0
2021	0
2020	0
2019	760
Prior	13,826
Revolving Loans	0
Total Loans	14,586	0
Real Estate [Member] | Commercial Real Estate [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	2,835
2022	23,003
2021	26,181
2020	30,678
2019	7,170
Prior	39,164
Revolving Loans	0
Total Loans	129,031	114,574
Real Estate [Member] | Commercial Real Estate [Member] | Pass [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	2,835
2022	22,571
2021	26,181
2020	30,678
2019	6,430
Prior	32,719
Revolving Loans	0
Total Loans	121,414	104,066
Real Estate [Member] | Commercial Real Estate [Member] | Watch [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	432
2021	0
2020	0
2019	740
Prior	1,101
Revolving Loans	0
Total Loans	2,273	4,524
Real Estate [Member] | Commercial Real Estate [Member] | Special Mention [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans	0
Total Loans	0	1,471
Real Estate [Member] | Commercial Real Estate [Member] | Substandard [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	5,344
Revolving Loans	0
Total Loans	5,344	4,513
Real Estate [Member] | Church [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	0
2021	2,247
2020	1,785
2019	649
Prior	9,302
Revolving Loans	0
Total Loans	13,983	15,780
Real Estate [Member] | Church [Member] | Pass [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	0
2021	2,247
2020	1,785
2019	0
Prior	7,188
Revolving Loans	0
Total Loans	11,220	14,505
Real Estate [Member] | Church [Member] | Watch [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	0
2021	0
2020	0
2019	649
Prior	1,120
Revolving Loans	0
Total Loans	1,769	728
Real Estate [Member] | Church [Member] | Special Mention [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans	0
Total Loans	0	0
Real Estate [Member] | Church [Member] | Substandard [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	994
Revolving Loans	0
Total Loans	994	547
Real Estate [Member] | Construction [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	18,490
2022	30,012
2021	8,487
2020	0
2019	0
Prior	2,154
Revolving Loans	0
Total Loans	59,143	40,703
Real Estate [Member] | Construction [Member] | Pass [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	995
2022	0
2021	1,219
2020	0
2019	0
Prior	2,154
Revolving Loans	0
Total Loans	4,368	2,173
Real Estate [Member] | Construction [Member] | Watch [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	17,495
2022	30,012
2021	7,268
2020	0
2019	0
Prior	0
Revolving Loans	0
Total Loans	54,775	38,530
Real Estate [Member] | Construction [Member] | Special Mention [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans	0
Total Loans	0	0
Real Estate [Member] | Construction [Member] | Substandard [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans	0
Total Loans	0	0
Commercial - Others [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	8,816
2021	282
2020	2,904
2019	6,550
Prior	11,597
Revolving Loans	7,205
Total Loans	37,354	64,841
Commercial - Others [Member] | Pass [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	7,611
2021	175
2020	1,404
2019	4,300
Prior	5,784
Revolving Loans	6,568
Total Loans	25,842	53,396
Commercial - Others [Member] | Watch [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	1,205
2021	107
2020	1,500
2019	2,250
Prior	5,532
Revolving Loans	637
Total Loans	11,231	11,157
Commercial - Others [Member] | Special Mention [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans	0
Total Loans	0	0
Commercial - Others [Member] | Substandard [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	281
Revolving Loans	0
Total Loans	281	288
SBA Loans [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	148
2021	2,723
2020	538
2019	28
Prior	128
Revolving Loans	0
Total Loans	3,565	3,601
SBA Loans [Member] | Pass [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	148
2021	2,723
2020	0
2019	28
Prior	128
Revolving Loans	0
Total Loans	3,027	3,032
SBA Loans [Member] | Watch [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans	0
Total Loans	0	569
SBA Loans [Member] | Special Mention [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	0
2021	0
2020	538
2019	0
Prior	0
Revolving Loans	0
Total Loans	538	0
SBA Loans [Member] | Substandard [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans	0
Total Loans	0	0
Consumer [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	10
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans	0
Total Loans	10	11
Consumer [Member] | Pass [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	10
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans	0
Total Loans	10	11
Consumer [Member] | Watch [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans	0
Total Loans	0	0
Consumer [Member] | Special Mention [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans	0
Total Loans	0	0
Consumer [Member] | Substandard [Member]
Loans Held for Investment Portfolio by Internal Risk Grading, and by Year of Origination [Abstract]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans	0
Total Loans	$ 0	$ 0

Loans Receivable Held for In_14

Loans Receivable Held for Investment, Credit Quality Indicators (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	$ 783,348	$ 773,444
Pass [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	681,108	685,387
Watch [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	78,065	65,717
Special Mention [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	2,571	16,590
Substandard [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	21,604	5,750
Doubtful [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable		0
Loss [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable		0
Real Estate [Member] | Single Family [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	29,216	30,038
Real Estate [Member] | Single Family [Member] | Pass [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	28,210	29,022
Real Estate [Member] | Single Family [Member] | Watch [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	349	354
Real Estate [Member] | Single Family [Member] | Special Mention [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	258	260
Real Estate [Member] | Single Family [Member] | Substandard [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	399	402
Real Estate [Member] | Single Family [Member] | Doubtful [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable		0
Real Estate [Member] | Single Family [Member] | Loss [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable		0
Real Estate [Member] | Multi-Family [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	511,046	503,896
Real Estate [Member] | Multi-Family [Member] | Pass [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	487,017	479,182
Real Estate [Member] | Multi-Family [Member] | Watch [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	7,668	9,855
Real Estate [Member] | Multi-Family [Member] | Special Mention [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	1,775	14,859
Real Estate [Member] | Multi-Family [Member] | Substandard [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	14,586	0
Real Estate [Member] | Multi-Family [Member] | Doubtful [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable		0
Real Estate [Member] | Multi-Family [Member] | Loss [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable		0
Real Estate [Member] | Commercial Real Estate [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	129,031	114,574
Real Estate [Member] | Commercial Real Estate [Member] | Pass [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	121,414	104,066
Real Estate [Member] | Commercial Real Estate [Member] | Watch [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	2,273	4,524
Real Estate [Member] | Commercial Real Estate [Member] | Special Mention [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	1,471
Real Estate [Member] | Commercial Real Estate [Member] | Substandard [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	5,344	4,513
Real Estate [Member] | Commercial Real Estate [Member] | Doubtful [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable		0
Real Estate [Member] | Commercial Real Estate [Member] | Loss [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable		0
Real Estate [Member] | Church [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	13,983	15,780
Real Estate [Member] | Church [Member] | Pass [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	11,220	14,505
Real Estate [Member] | Church [Member] | Watch [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	1,769	728
Real Estate [Member] | Church [Member] | Special Mention [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Real Estate [Member] | Church [Member] | Substandard [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	994	547
Real Estate [Member] | Church [Member] | Doubtful [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable		0
Real Estate [Member] | Church [Member] | Loss [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable		0
Real Estate [Member] | Construction [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	59,143	40,703
Real Estate [Member] | Construction [Member] | Pass [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	4,368	2,173
Real Estate [Member] | Construction [Member] | Watch [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	54,775	38,530
Real Estate [Member] | Construction [Member] | Special Mention [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Real Estate [Member] | Construction [Member] | Substandard [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Real Estate [Member] | Construction [Member] | Doubtful [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable		0
Real Estate [Member] | Construction [Member] | Loss [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable		0
Commercial - Other [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	37,354	64,841
Commercial - Other [Member] | Pass [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	25,842	53,396
Commercial - Other [Member] | Watch [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	11,231	11,157
Commercial - Other [Member] | Special Mention [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Commercial - Other [Member] | Substandard [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	281	288
Commercial - Other [Member] | Doubtful [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable		0
Commercial - Other [Member] | Loss [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable		0
SBA Loans [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	3,565	3,601
SBA Loans [Member] | Pass [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	3,027	3,032
SBA Loans [Member] | Watch [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	569
SBA Loans [Member] | Special Mention [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	538	0
SBA Loans [Member] | Substandard [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
SBA Loans [Member] | Doubtful [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable		0
SBA Loans [Member] | Loss [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable		0
Consumer [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	10	11
Consumer [Member] | Pass [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	10	11
Consumer [Member] | Watch [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Consumer [Member] | Special Mention [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Consumer [Member] | Substandard [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	$ 0	0
Consumer [Member] | Doubtful [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable		0
Consumer [Member] | Loss [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable		$ 0

Loans Receivable Held for In_15

Loans Receivable Held for Investment, Off-Balance Sheet Commitments (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Off-Balance Sheet Commitments [Abstract]
Allowance for off-balance sheet commitments	$ 367	$ 412

Goodwill and Core Deposit Int_3

Goodwill and Core Deposit Intangible, Goodwill and Core Deposit Intangibles (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Impairment			$ 0
Changes in Carrying Amount of Goodwill [Roll Forward]
Balance at the beginning of the period	$ 25,858
Additions	0
Change in deferred tax estimate	0
Amortization	0
Balance at the end of the period	25,858		25,858
Changes in Carrying Amount of Core Deposit Intangibles [Roll Forward]
Balance at the beginning of the period	2,501
Amortization	98	$ 109
Balance at the end of the period	2,403		2,501
Core Deposit Intangible [Member]
Changes in Carrying Amount of Core Deposit Intangibles [Roll Forward]
Balance at the beginning of the period	2,501
Additions	0
Change in deferred tax estimate	0
Amortization	(98)
Balance at the end of the period	$ 2,403		$ 2,501

Goodwill and Core Deposit Int_4

Goodwill and Core Deposit Intangible, Components of Carrying Amount of Core Deposit Intangible (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets, Net [Abstract]
Net core deposit intangible	$ 2,403	$ 2,501
Core Deposits [Member]
Finite-Lived Intangible Assets, Net [Abstract]
Core deposit intangible acquired	3,329
Less: accumulated amortization	(926)
Net core deposit intangible	$ 2,403	$ 2,501

Goodwill and Core Deposit Int_5

Goodwill and Core Deposit Intangible, Estimated Amortization Expense (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Estimated amortization expense [Abstract]
Net core deposit intangible	$ 2,403	$ 2,501
Core Deposit Intangible [Member]
Estimated amortization expense [Abstract]
2023	292
2024	336
2025	315
2026	304
2027	291
Thereafter	865
Net core deposit intangible	$ 2,403	$ 2,501

Borrowings, Liabilities Securit

Borrowings, Liabilities Securities Sold under Agreements to Repurchase (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Repurchase Agreements [Abstract]
Securities sold under agreements to repurchase	$ 70,941	$ 63,471
Securities collateral pledged	$ 87,600	$ 64,400
Weighted average rate on repurchase agreements	0.24%	0.38%
U.S. Government Agency Securities [Member]
Repurchase Agreements [Abstract]
Securities collateral pledged	$ 26,000	$ 33,300
Mortgage Backed Securities [Member]
Repurchase Agreements [Abstract]
Securities collateral pledged	22,200
SBA Pools [Member]
Repurchase Agreements [Abstract]
Securities collateral pledged	5,300
Federal Agency CMO [Member]
Repurchase Agreements [Abstract]
Securities collateral pledged	273
U.S. Treasuries [Member]
Repurchase Agreements [Abstract]
Securities collateral pledged	$ 33,900	19,200
Federal Agency Mortgage-backed Securities [Member]
Repurchase Agreements [Abstract]
Securities collateral pledged		$ 11,900

Borrowings, Other Borrowings (D

Borrowings, Other Borrowings (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023 USD ($) Note	Dec. 31, 2022 USD ($)
Debt Instrument [Abstract]
Advances from Federal Home Loan Banks	$ 168,810	$ 128,344
Loans receivable	776,053	768,046
Notes payable	$ 14,000	14,000
Number of notes payables | Note	2
Other Financial Institutions [Member]
Debt Instrument [Abstract]
Lines of credit	$ 10,000
Line of credit maturity period	30 days
FHLB of Atlanta [Member]
Debt Instrument [Abstract]
FHLB advances, additional amount eligible to borrow	$ 157,200
Note A [Member]
Debt Instrument [Abstract]
Debt instrument, maturity date	Dec. 01, 2040
Notes payable	$ 9,900
Interest rate	5.20%
Note B [Member]
Debt Instrument [Abstract]
Debt instrument, maturity date	Dec. 01, 2040
Notes payable	$ 4,100
Interest rate	0.24%
Federal Home Loan Bank Advances [Member]
Debt Instrument [Abstract]
Advances from Federal Home Loan Banks	$ 168,800	$ 128,300
Weighted average interest rate	4.35%	3.74%
Weighted average contractual maturity	9 months	13 months
Federal Home Loan Bank Advances [Member] | Asset Pledged as Collateral [Member]
Debt Instrument [Abstract]
Loans receivable	$ 329,100	$ 328,100
Federal Home Loan Bank Advances [Member] | FHLB of Atlanta [Member]
Debt Instrument [Abstract]
Borrowings approved amount, in terms of percentage on total assets	25%

Fair Value, Assets Measured on

Fair Value, Assets Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	$ 329,026	$ 328,749
Federal Agency Mortgage-backed [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	73,017	74,169
Federal Agency CMO [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	25,749	26,100
Federal Agency Debt [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	52,030	51,425
Municipal Bonds [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	4,299	4,197
U.S. Treasuries [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	162,096	160,589
SBA Pools [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	11,835	12,269
Recurring Basis [Member] | Federal Agency Mortgage-backed [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	73,017	74,169
Recurring Basis [Member] | Federal Agency CMO [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	25,749	26,100
Recurring Basis [Member] | Federal Agency Debt [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	52,030	51,425
Recurring Basis [Member] | Municipal Bonds [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	4,299	4,197
Recurring Basis [Member] | U.S. Treasuries [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	162,096	160,589
Recurring Basis [Member] | SBA Pools [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	11,835	12,269
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Federal Agency Mortgage-backed [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	0	0
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Federal Agency CMO [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	0	0
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Federal Agency Debt [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	0	0
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Municipal Bonds [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	0	0
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | U.S. Treasuries [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	162,096	160,589
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | SBA Pools [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	0	0
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Federal Agency Mortgage-backed [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	73,017	74,169
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Federal Agency CMO [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	25,749	26,100
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Federal Agency Debt [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	52,030	51,425
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Municipal Bonds [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	4,299	4,197
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | U.S. Treasuries [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	0	0
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | SBA Pools [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	11,835	12,269
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Federal Agency Mortgage-backed [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	0	0
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Federal Agency CMO [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	0	0
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Federal Agency Debt [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	0	0
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Municipal Bonds [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	0	0
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | U.S. Treasuries [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	0	0
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | SBA Pools [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	$ 0	$ 0

Fair Value, Assets Measured o_2

Fair Value, Assets Measured on Non-Recurring Basis (Details) - Non-Recurring Basis [Member] - Impaired Loans Carried at Fair Value [Member] - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Net Asset (Liability) [Abstract]
Assets, fair value	$ 0	$ 0
Liabilities fair value	$ 0	$ 0

Fair Value, Fair Values of Fina

Fair Value, Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Financial Assets [Abstract]
Securities available-for-sale	$ 329,026	$ 328,749
Carrying Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents	29,648	16,105
Securities available-for-sale	329,026	328,749
Loans receivable held for investment	776,053	768,046
Accrued interest receivables	4,219	3,973
Bank owned life insurance	3,242	3,233
Financial Liabilities [Abstract]
Deposits	657,542	686,916
FHLB advances	168,810	128,344
Securities sold under agreements to repurchase	70,941	63,471
Note payable	14,000	14,000
Accrued interest payable	368	453
Fair Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents	29,648	16,105
Securities available-for-sale	329,026	328,749
Loans receivable held for investment	636,286	641,088
Accrued interest receivables	4,219	3,973
Bank owned life insurance	3,242	3,233
Financial Liabilities [Abstract]
Deposits	596,064	673,615
FHLB advances	167,175	126,328
Securities sold under agreements to repurchase	67,423	60,017
Note payable	14,000	14,000
Accrued interest payable	368	453
Fair Value [Member] | Level 1 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	29,648	16,105
Securities available-for-sale	162,096	160,589
Loans receivable held for investment	0	0
Accrued interest receivables	612	442
Bank owned life insurance	3,242	3,233
Financial Liabilities [Abstract]
Deposits	0	0
FHLB advances	0	0
Securities sold under agreements to repurchase	0	0
Note payable	0	0
Accrued interest payable	0	0
Fair Value [Member] | Level 2 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	0	0
Securities available-for-sale	166,930	168,160
Loans receivable held for investment	0	0
Accrued interest receivables	635	793
Bank owned life insurance	0	0
Financial Liabilities [Abstract]
Deposits	596,064	673,615
FHLB advances	167,175	126,328
Securities sold under agreements to repurchase	67,423	60,017
Note payable	0	0
Accrued interest payable	368	453
Fair Value [Member] | Level 3 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	0	0
Securities available-for-sale	0	0
Loans receivable held for investment	636,286	641,088
Accrued interest receivables	2,972	2,738
Bank owned life insurance	0	0
Financial Liabilities [Abstract]
Deposits	0	0
FHLB advances	0	0
Securities sold under agreements to repurchase	0	0
Note payable	14,000	14,000
Accrued interest payable	$ 0	$ 0

Stock-based Compensation, Long-

Stock-based Compensation, Long-Term Incentive Plan (Details) - 2018 LTIP [Member] - USD ($) $ in Thousands	1 Months Ended			3 Months Ended
	Feb. 28, 2023	Mar. 31, 2022	Feb. 28, 2022	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2018
Stock-based Compensation [Abstract]
Contractual term of option awards				10 years
Maximum number of shares that can be awarded (in shares)						1,293,109
Aggregate number of shares awarded to date under the plan (in shares)				968,572
Shares available for awards (in shares)				324,537
Directors [Member] | Restricted Stock [Member]
Stock-based Compensation [Abstract]
Restricted stock awards issued (in shares)	73,840		47,187
Restricted stock awards vested (in shares)	73,840		47,187
Stock based compensation expense				$ 96	$ 84
Officers and Employees [Member] | Restricted Stock [Member]
Stock-based Compensation [Abstract]
Restricted stock awards issued (in shares)		495,262
Restricted stock awards forfeited (in shares)				74,736
Stock based compensation expense				$ 38	$ 15
Officers and Employees [Member] | Restricted Stock [Member] | Minimum [Member]
Stock-based Compensation [Abstract]
Award vesting period				36 months
Officers and Employees [Member] | Restricted Stock [Member] | Maximum [Member]
Stock-based Compensation [Abstract]
Award vesting period				60 months

Stock-based Compensation, Stock

Stock-based Compensation, Stock Option Activity (Details) - Stock Options [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Number Outstanding [Roll Forward]
Outstanding at beginning of period (in shares)	250,000
Granted during period (in shares)	0	0
Exercised during period (in shares)	0
Forfeited or expired during period (in shares)	0
Outstanding at end of period (in shares)	250,000
Exercisable at end of period (in shares)	250,000
Weighted Average Exercise Price [Abstract]
Outstanding at beginning of period (in dollars per share)	$ 1.62
Granted during period (in dollars per share)	0
Exercised during period (in dollars per share)	0
Forfeited or expired during period (in dollars per share)	0
Outstanding at end of period (in dollars per share)	1.62
Exercisable at end of period (in dollars per share)	$ 1.62
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Stock based compensation expense	$ 0	$ 0

Stock-based Compensation, Optio

Stock-based Compensation, Options Outstanding and Exercisable (Details) - Stock Options [Member] $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) $ / shares shares
Options, Outstanding [Abstract]
Number Outstanding (in shares) | shares	250,000
Weighted Average Remaining Contractual Life	2 years 10 months 17 days
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 1.62
Aggregate Intrinsic Value | $	$ 0
Options, Exercisable [Abstract]
Number Outstanding ( in shares) | shares	250,000
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 1.62
Aggregate Intrinsic Value | $	$ 0

ESOP Plan (Details)

ESOP Plan (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
ESOP Plan [Abstract]
Number of common stock purchased by ESOP (in shares)	2,065,342		466,955
Purchase price of common stock (in dollars per share)	$ 1.21		$ 1.07
Total cost of shares purchased by ESOP	$ 2,500		$ 500
Line of credit to ESOP	$ 2,500		$ 5,000
Term of ESOP loan	20 years
Compensation expense related to ESOP	$ 12	$ 18
Shares Held by ESOP [Abstract]
Allocated to participants (in shares)	1,057,504		1,057,504
Committed to be released (in shares)	19,784		9,892
Suspense shares (in shares)	3,003,938		948,488
Total ESOP shares (in shares)	4,081,226		2,015,884
Fair value of unearned shares	$ 3,545		$ 1,015
Unearned ESOP shares	$ 3,963		$ 1,265

Stockholders' Equity and Regu_3

Stockholders' Equity and Regulatory Matters (Details) $ / shares in Units, $ in Thousands		3 Months Ended
	Jun. 07, 2022 USD ($) shares	Mar. 31, 2022 USD ($) $ / shares shares	Mar. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares
Actual [Abstract]
Community Bank Leverage Ratio, Amount			$ 181,562	$ 181,304
Community Bank Leverage Ratio, Ratio			0.1569	0.1575
Minimum Required To Be Well Capitalized Under Prompt Corrective Action Provisions [Abstract]
Community Bank Leverage Ratio, Amount			$ 104,174	$ 103,591
Community Bank Leverage Ratio, Ratio			0.09	0.09
Non-Cumulative Perpetual Preferred Stock, Series C [Member]
Stockholders' Equity [Abstract]
Preferred stock, shares issued (in shares) | shares	150,000		150,000	150,000
Capital investment	$ 150,000		$ 150,000	$ 150,000
Preferred initial dividend rate for first two years after issuance	0%
Preferred stock, period for initial dividend rate	2 years
Floor dividend rate	0.50%
Ceiling dividend rate	2%
Cumulative Redeemable Perpetual Preferred stock, Series A [Member]
Stockholders' Equity [Abstract]
Preferred stock, aggregate liquidation value		$ 3,000
Common Class A [Member]
Stockholders' Equity [Abstract]
Common stock, shares issued upon conversion from preferred stock (in shares) | shares		1,193,317
Exchange price (in dollars per share) | $ / shares		$ 2.51

Income Taxes (Details)

Income Taxes (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Valuation Allowance [Abstract]
Cumulative losses lookback period	2 years
Deferred tax assets, valuation allowance	$ 369

Concentration of Credit Risk (D

Concentration of Credit Risk (Details) - Customer Concentration Risk [Member]	3 Months Ended
	Mar. 31, 2023 Customer
Deposits [Member]
Concentration Percentage [Abstract]
Number of significant customers	1
Deposits [Member] | One Customer [Member]
Concentration Percentage [Abstract]
Percentage of concentration risk	10%
Securities Sold under Agreements to Repurchase [Member]
Concentration Percentage [Abstract]
Number of significant customers	1
Securities Sold under Agreements to Repurchase [Member] | One Customer [Member]
Concentration Percentage [Abstract]
Percentage of concentration risk	75%