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Earnings Per Common Share
 12 Months Ended
Dec. 31, 2024
Earnings Per Common Share [Abstract]  
Earnings Per Common Share
Note 19 – Earnings Per Common Share
 
The factors used in the earnings per common share computation follow:
 
   
2024
    
2023
  
   
(In thousands,
except share and per share)
  
Net income attributable to Broadway Financial Corporation
  
$
1,926
    
$
4,514
  
Less: Net income attributable to participating securities
    
7
      
59
  
Less: Preferred stock dividends -  ECIP
    1,567       –  
Income available to common stockholders
  
$
352
    
$
4,455
  
                 
Weighted average common shares outstanding for basic earnings per common share
    
8,459,460
      
8,627,071
  
Add: Effects of unvested restricted stock awards
    
179,200
      
114,599
  
Weighted average common shares outstanding for diluted earnings per common share
    
8,638,660
      
8,741,670
  
                 
Earnings per common share - basic
  
$
0.04
    
$
0.52
  
Earnings per common share - diluted
  
$
0.04
    
$
0.51
  
 
Diluted earnings per share for the year ended December 31, 2024 reflects preferred dividends of $0.18 per diluted common share.
 
Stock options for 12,500 and 31,250 shares of common stock for the years ended December 31, 2024 and 2023, respectively, were not considered in computing diluted earnings per common share because they were anti‑dilutive.
 

Basic earnings per share of common stock is computed pursuant to the two-class method by dividing net loss available to common stockholders less dividends paid on participating securities (unvested shares of restricted common stock) and any undistributed loss 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. 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 options. No unvested stock awards or potential common shares issuable under stock options were included in diluted earnings per share in either year.