Core Viewpoint - Broadway Financial Corporation reported revised financial results for the first quarter of 2025, indicating a significant net loss compared to the previous year, primarily due to operational challenges and increased expenses related to fraud and credit losses [1][2][4]. Financial Performance - The company reported a consolidated net loss before preferred dividends of $1.9 million, or ($0.21) per diluted share, for Q1 2025, compared to a net loss of $164 thousand, or ($0.02) per diluted share, for Q1 2024 [2]. - Net loss attributable to common stockholders was $2.6 million in Q1 2025 after deducting preferred dividends of $750 thousand, compared to a net loss of $164 thousand in Q1 2024 [2]. - The diluted loss per common share was ($0.30) for Q1 2025, compared to ($0.02) for Q1 2024 [2]. Income and Expenses - Net interest income increased by $521 thousand, or 6.9%, to $8.0 million in Q1 2025 compared to Q1 2024, driven by lower interest expenses on borrowings and increased interest and fees on loans [3][5]. - Non-interest expenses rose by $2.4 million, or 30.6%, to $10.2 million in Q1 2025, primarily due to a $1.9 million loss from wire fraud and increased compensation and benefits expenses [11]. - The provision for credit losses increased to $689 thousand in Q1 2025 from $260 thousand in Q1 2024, mainly due to one new non-accrual loan [8]. Deposits and Borrowings - Total deposits grew by $31.1 million, or 4.2%, to $776.5 million at March 31, 2025, compared to $745.4 million at December 31, 2024 [14]. - Total borrowings decreased by $93.9 million to $168.2 million at March 31, 2025, primarily due to a reduction in FHLB advances [15]. Capital and Asset Quality - Stockholders' equity was $284.6 million, or 23.0% of total assets, at March 31, 2025, compared to $285.2 million, or 21.9% of total assets, at December 31, 2024 [16]. - The company maintained strong capital ratios, with a Community Bank Leverage Ratio of 15.24% at March 31, 2025, up from 13.96% at December 31, 2024 [9][16]. - Non-accrual loans to total loans stood at 0.09%, and non-performing loans to total assets were at 0.07% as of March 31, 2025, indicating strong credit quality despite the addition of non-accrual loans [10][9]. Strategic Initiatives - The company executed an ECIP Securities Purchase Option Agreement with the U.S. Treasury, allowing for the potential repurchase of Series C Preferred Stock at a favorable price upon meeting certain conditions [4]. - The CEO expressed optimism about the company's ability to achieve strategic goals and improve profitability while serving low-to-moderate income communities [4].

Core Viewpoint - The article emphasizes the importance of managing funds between checking and savings accounts to maximize financial stability and returns, suggesting specific amounts to hold in each type of account based on individual financial situations [14]. Group 1: Checking Accounts - Checking accounts are designed for frequent access to funds, typically used for paying monthly bills such as rent, loans, and credit card payments [2]. - Most checking accounts allow easy access to funds through debit card purchases, ATM withdrawals, or electronic transfers [3]. - Checking accounts generally offer low or no interest rates, with the average interest rate in the U.S. being 0.07% APY, making them unsuitable for long-term savings [4]. - It is advisable to keep only a small buffer in checking accounts, typically enough to cover one to two months of expenses, to avoid overdraft fees and account management fees [5]. Group 2: Savings Accounts - It is recommended to keep three to six months' worth of living expenses in a savings account as an emergency fund [6]. - High-yield savings accounts or money market accounts currently offer interest rates around 4% to 5%, significantly higher than traditional savings accounts [7]. - Opening a high-yield savings account can help maximize savings, as some accounts offer rates over 4%, which is more than ten times the national average [9]. - Establishing an emergency fund is crucial, with experts suggesting that individuals with dependents should aim for six to twelve months of expenses [13]. Group 3: Financial Planning - A balanced financial plan should include a reasonable amount in checking accounts for immediate expenses and additional savings in high-yield accounts for future needs [14]. - It is wise to compare different banks to find accounts with high interest rates and low fees, and to consider multiple savings accounts for different financial goals [14].

Core Concept - Financial management is no longer exclusive to the wealthy but is a fundamental skill everyone should possess, focusing on systematic learning to avoid financial pitfalls and optimize fund utilization [1][6]. Group 1: Importance of Financial Management - Financial management ensures basic living standards by planning income and expenses to avoid deficits [4]. - It prepares individuals for unexpected situations by maintaining emergency funds for risks like illness or unemployment [4]. - It aids in achieving life goals such as home ownership, education, and retirement through early planning [4]. - Financial management serves as a crucial tool against inflation, as mere savings can lead to devaluation of funds [4]. Group 2: Basic Steps in Personal Financial Management - Define financial goals, such as purchasing a car in three years or retiring in ten years, which will influence fund allocation [7]. - Record and analyze income and expenses using tools like accounting software or spreadsheets to clarify monthly financial flows [7]. - Develop a financial plan that includes fixed savings amounts, investment ratios, and insurance choices [7]. - Continuously optimize and review financial strategies and budgets based on income changes and market fluctuations [7]. Group 3: Common Financial Tools for Beginners - Savings accounts offer the highest safety and are suitable for short-term fund storage [8]. - Bank fixed deposits provide slightly higher returns than current accounts but with lower liquidity [8]. - Money market funds, such as Yu'ebao, offer strong liquidity and very low risk [8]. - Bond products, including government and corporate bonds, are suitable for conservative investors [8]. - Index funds typically outperform most actively managed funds over the long term and are ideal for long-term holding [8]. - Commercial insurance, including critical illness, accident, and life insurance, forms the foundational logic for family protection [8]. Group 4: Common Misconceptions in Financial Management - The desire for quick wealth can lead to high-risk investment traps [9]. - Following investment trends from social media or friends can overlook personal risk tolerance [9]. - Lack of insurance coverage in financial management is akin to gambling without limits [9]. - Failing to diversify assets by investing all funds in a single product exposes individuals to systemic risks [9]. Group 5: Enhancing Financial Management Skills - Learning basic financial knowledge through reading finance books and news helps in mastering relevant concepts [10]. - Engaging in simulations and small-scale investments, such as purchasing money market funds, builds experience [10]. - Choosing the right financial channels, prioritizing reputable banks and brokerage platforms, is essential to avoid unlicensed institutions [10]. - Setting and adhering to financial goals is crucial, as financial management is a long-term endeavor requiring persistence [10].