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Earnings Per Share of Common Stock | 9 Months Ended
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Sep. 30, 2024
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 any undistributed earnings attributable to participating securities by the weighted average common shares outstanding during the period. The weighted average common shares outstanding includes the weighted average number of shares of common stock outstanding less the weighted average number of unvested shares of restricted common stock. Employee Stock Ownership Plan (“ESOP”) shares are considered outstanding for this calculation unless unearned. Diluted earnings per share of common stock includes the dilutive effect of unvested stock awards and additional potential common shares issuable under stock compensation plans. Stock options for 12,500 and 31,250 shares of common stock at September 30,2024 and 2023, respectively, were not considered in computing diluted earnings per common share because they were anti‑dilutive. The following table shows how the Company computed basic and diluted earnings per share of common stock for the periods indicated:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
|  | (In thousands, except share and per share data) |
Net income attributable to Broadway Financial Corporation |  | $ | 522 |  |  | $ | 91 |  |  | $ | 627 |  |  | $ | 1,907 |
Less: Net income attributable to participating securities |  |  | 5 |  |  |  | 1 |  |  |  | 4 |  |  |  | 27 |
Less: Preferred stock dividends |  |  | 750 |  |  |  | – |  |  |  | 817 |  |  |  | – |
Net (loss) income available to common stockholders |  | $ | (233 | ) |  | $ | 90 |  |  | $ | (194 | ) |  | $ | 1,880 |
Weighted average common shares outstanding for basic earnings per common share(1) |  |  | 8,520,730 |  |  |  | 8,709,301 |  |  |  | 8,386,919 |  |  |  | 8,756,189 |
Add: Effects of unvested restricted stock awards(1) |  |  | 163,566 |  |  |  | 116,493 |  |  |  | 179,156 |  |  |  | 123,004 |
Weighted average common shares outstanding for diluted earnings per common share(1) |  |  | 8,684,296 |  |  |  | 8,825,794 |  |  |  | 8,566,075 |  |  |  | 8,879,193 |
(Loss) earnings per common share - basic(1) |  | $ | (0.03 | ) |  | $ | 0.01 |  |  | $ | (0.02 | ) |  | $ | 0.21 |
(Loss) earnings per common share - diluted(1) |  | $ | (0.03 | ) |  | $ | 0.01 |  |  | $ | (0.02 | ) |  | $ | 0.21 |
(1) Retroactively adjusted, as applicable, for the 1-for-8 reverse stock split effective November 1, 2023 - see Note 1

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-3 + Details
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