Form 8-K

8-K — BROADWAY FINANCIAL CORP \DE\

Accession: 0001140361-26-017451

Filed: 2026-04-28

Period: 2026-04-28

CIK: 0001001171

SIC: 6035 (SAVINGS INSTITUTION, FEDERALLY CHARTERED)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — ef20071637_8k.htm (Primary)

EX-99.1 — EXHIBIT 99.1 (ef20071637_ex99-1.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: ef20071637_8k.htm · Sequence: 1

false0001001171NASDAQ00010011712026-04-282026-04-28

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 28, 2026

BROADWAY FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

Delaware

001-39043

95-4547287

(State or other jurisdiction of incorporation or organization)

(Commission File Number)

(I.R.S. Employer Identification Number)

4601 Wilshire Boulevard Suite 150, Los Angeles, California

90010

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: (323) 634-1700

NOT APPLICABLE

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following

provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Class A Common Stock, par value $0.01 per share (including attached preferred stock purchase rights)

BYFC

Nasdaq Capital Market

Indicate by check mark whether the registrant is an emerging growth company in as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule

12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised

financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02

Results of Operations and Financial Condition.

On April 28, 2026, Broadway Financial Corporation (the “Company”) issued a press release announcing results for the quarter ended March 31, 2026. A copy of the press

release is attached as Exhibit 99.1.

The information set forth in this Current Report, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18

of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such section. The information in this Current Report, including Exhibits 99.1 attached hereto, shall not be incorporated by

reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing to this Current Report.

Item 9.01

Financial Statements and Exhibits.

(d)

Exhibits

99.1

Press Release dated April 28, 2026, announcing results for the quarter ended March 31, 2026.

104

The cover page from this Current Report on Form 8-K, formatted in Inline XBRL (included as Exhibit 101).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto

duly authorized.

Date: April 28, 2026

BROADWAY FINANCIAL CORPORATION

By:

/s/ Zack Ibrahim

Name: Zack Ibrahim

Title: Chief Financial Officer

EX-99.1 — EXHIBIT 99.1

EX-99.1

Filename: ef20071637_ex99-1.htm · Sequence: 2

Exhibit 99.1

News Release

FOR IMMEDIATE RELEASE

Broadway Financial Corporation Announces Results of

Operations for First Quarter 2026

LOS ANGELES, CA – (BUSINESS WIRE) – April 28, 2026 – Broadway Financial Corporation (“Broadway”, “we”, or the

“Company”) (NASDAQ: BYFC), parent company of City First Bank, National Association (the “Bank”, and collectively, with the Company, “City First Broadway”), reported consolidated net income before preferred dividends of $1.6 million, or $0.09 per diluted share, for the first quarter of 2026, compared to consolidated net loss before preferred dividends of $2.7 million, or ($0.39) per diluted share, for the first

quarter of 2025 representing improvement of $4.3 million.

Net income attributable to common stockholders increased 123.6% to $810 thousand during the first quarter of 2026 after deducting preferred dividends of $750 thousand,

compared to net loss attributable to common stockholders of $3.4 million for the first quarter of 2025 after deducting preferred dividends of $750 thousand. Diluted income per common share for the first quarter of 2026 reflects preferred dividends

of $0.08 per diluted common share compared to $0.09 per diluted loss per common share for the first quarter of 2025.

First Quarter 2026 Highlights:

•

Total loans increased 4.2%, or $42.7 million, during the first quarter of 2026 compared to December 31, 2025

•

Total deposits increased by $155.5 million, or 16.9%, during the first quarter of 2026 compared to December 31, 2025

•

The net interest margin increased by 28 basis points to 2.91% for the first quarter of 2026, compared to 2.63% for the first quarter of 2025

•

Borrowings were $0 at March 31, 2026 compared to $72.0 million at December 31, 2025, a reduction of $72.0 million, or 100%

•

Capital ratios remain strong with a Community Bank Leverage Ratio of 14.09% at March 31, 2026 compared to 14.09% at December 31, 2025

•

Credit quality remains strong with non-accrual loans to total loans at 1.07% and non-performing loans to total assets at 0.80%

Chief Executive Officer, Brian Argrett commented,

“We are very pleased with our strong first quarter of 2026 results and continue to build on this positive momentum. Net income after preferred dividends increased 193.5% to $810 thousand compared to the quarter ended December 31, 2025, mainly

driven by a 9.5% increase in net interest income from the prior quarter.”

“Loans grew by $42.7 million, or 4.2%, and deposits increased by $155.5 million, or 16.9%, since December 31, 2025, reflecting continued customer growth and deposit

inflows. During the quarter, we further strengthened the balance sheet by eliminating $72.0 million in borrowings, which reduced our cost of funds and contributed to a 28-basis-point improvement in the net interest margin to 2.91% compared to the

prior quarter.”

“We remain focused on building long-term relationships, maintaining a strong and flexible balance sheet while executing our mission-driven objectives. These

priorities allow us to support our customers, local businesses, and low‑to‑moderate income communities while working to deliver sustainable, long‑term performance.”

“As always, I thank our employees for their endless dedication and our stockholders, depositors, and Board of Directors for their ongoing support of our strategy and

mission. Their commitment is essential to our efforts to enhance efficiency and drive disciplined growth.”

Income Statement

•

Net Interest Income totaled $9.6 million, representing an increase of $1.5 million, or 18.9%, from net interest income of $8.0 million for the first quarter of 2025. The increase resulted from a $1.9 million increase in interest income, primarily due to a $1.4 million increase in interest income on available-for-sale securities due to an increase in the average

balance of available-for-sale securities and the average rate earned on available-for-sale securities and a $679 thousand increase in interest income on loans receivable due to an increase in the average balance of loans receivable.

Further, interest expense on borrowings decreased $1.4 million due to a decrease in the average balance of borrowings. These increases in net interest income were offset by a $1.8 million increase in interest expense on deposits due an

increase in the average balance of deposits and the average rate paid on deposits.

The net interest margin increased to 2.91% for the first quarter of 2026 from 2.63% for the first quarter of 2025, due to an

increase in the average rate earned on interest-earning assets, which increased to 5.08% for the first quarter of 2026 from 4.84% for the first quarter of 2025, and a decrease in the cost of funds, which decreased to 2.91% for the first quarter of

2026 from 3.06% for the first quarter of 2025.

•

Provision for Credit Losses was $200 thousand for the three months ended March 31, 2026, compared to a provision for credit losses of $1.9 million for the three months ended March 31, 2025. This decrease was largely attributed to a reduction in required reserves on individually evaluated loans, as a

specific reserve was recorded on a non‑accrual loan during the first quarter of 2025.

The allowance for credit losses (“ACL”) increased to $9.5 million as of March 31, 2026, compared to $9.4 million as of December 31, 2025. Credit quality remains strong with non-accrual loans as a percentage

of total loans at 1.07% and non-performing assets to total assets of 0.80% despite the increase in non-accrual loans.

•

Non-interest Expense was $8.0 million for the first quarter

of 2026, compared to $10.2 million for the first quarter of 2025, representing a decrease of $2.2 million, or 21.4%. The decrease was primarily due to the $1.9 million

operational loss incurred in the first quarter of 2025 as well as a $398 thousand decrease in compensation and benefits expense.

•

Income Tax Expense/Benefit was income tax expense of $390 thousand for the first quarter of 2026 compared to income tax benefit of $1.1 million for the first quarter of 2025. The increase in tax expense reflected an increase of $5.7

million in pre-tax income between the two periods. The effective tax rate was 20.14% for the first quarter of 2026, compared to 28.75% for the first quarter of 2025.

Balance Sheet

•

Total Assets increased by $80.9 million at March 31, 2026,

compared to December 31, 2025, reflecting increases in net loans of $42.7 million, securities available-for-sale of $27.3 million and cash and cash equivalents of $16.1 million. The increases in net loans and securities available-for-sale

were mainly due to purchases of loans and securities available-for-sale.

•

Loans Held for Investment, Net of the ACL, increased by

$42.7 million to $1.1 billion at March 31, 2026, compared to $1.0 billion at December 31, 2025. The increase was primarily due to loan purchases.

•

Deposits increased by $155.5 million, or 16.9%, to $1.1

billion at March 31, 2026, from $917.6 million at December 31, 2025. The increase in deposits was attributable to increases of $198.1 million in savings deposits and $11.1 million in certificates of deposit accounts, partially offset by

decreases of $48.5 million in liquid deposits (demand, interest checking, and money market accounts), $4.8 million in Insured Cash Sweep (“ICS”) deposits (ICS deposits are the Bank’s money market deposit accounts in excess of FDIC insured limits whereby the Bank makes reciprocal arrangements for insurance with other banks), and $319 thousand in Certificate of Deposit Registry Service (“CDARS”)

deposits (CDARS deposits are similar to ICS deposits, but involve certificates of deposit, instead of money market accounts).

As of March 31, 2026, our uninsured deposits, including deposits from

City First Bank and other affiliates, represented 46% of our total deposits, compared to 41% as of December 31, 2025. We leverage our long-standing partnership with IntraFi Deposit Solutions to offer

deposit insurance for accounts exceeding the FDIC deposit insurance limit of $250,000.

•

Total Borrowings decreased by $72.0 million to $0 at March 31, 2026, from $72.0 million at December 31, 2025, due to paying down FHLB advances.

Asset Quality

•

Allowance for Credit Losses was 0.89% of total loans held

for investment at March 31, 2026, compared to 0.92% at December 31, 2025.

•

Nonperforming Assets were $11.5 million at March 31, 2026,

compared to $11.2 million at December 31, 2025.

Capital

•

Stockholders’ equity was $262.9 million, or 18.4% of the

Company’s total assets, at March 31, 2026, compared to $262.8 million, or 19.5% of the Company’s total assets, at December 31, 2025.

•

Book Value per Share was $12.14 at March 31, 2026, compared to $12.28 at December 31, 2025. Capital ratios remain strong with a Community Bank Leverage Ratio of 14.09% at March 31, 2026 compared

to 14.09% at December 31,2025.

About Broadway Financial Corporation

Broadway Financial Corporation operates through its wholly-owned banking subsidiary, City First Bank, National Association, which is

a leading mission-driven bank that serves low-to-moderate income communities within urban areas in Southern California and the Washington, D.C. market.

City First Bank offers a variety of commercial loan products, services, and depository accounts that support investments in

affordable housing, small businesses, and nonprofit community facilities located within low-to-moderate income neighborhoods. City First Bank is a Community Development Financial Institution, Minority Depository Institution, Certified B Corp, and

a member of the Global Alliance of Banking on Values. The Bank and the City First network of nonprofits, City First Enterprises, Homes By CFE, and City First Foundation, represent the City First branded family of

community development financial institutions, which offer a robust lending and deposit platform.

Contacts

Investor Relations

Zack Ibrahim, Chief Financial Officer, (202) 243-7100

Investor.relations@cityfirstbroadway.com

Cautionary Statement Regarding Forward-Looking Information

This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States

Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations or financial condition, business strategy

and plans and objectives of management for future operations and capital allocation and structure, are forward-looking statements. Forward‑looking statements typically include the words “expect,” “estimate,” “project,” “budget,” “forecast,”

“anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” “poised,” “optimistic,” “prospects,” “ability,” “looking,” “forward,” “invest,” “grow,” “improve,” “deliver” and similar

expressions, but the absence of such words or expressions does not mean a statement is not forward-looking. These forward‑looking statements are subject to risks and uncertainties, including those identified below, which could cause actual

future results to differ materially from historical results or from those anticipated or implied by such statements. The following factors, among others, could cause future results to differ materially from historical results or from those

indicated by forward‑looking statements included in this press release: (1) the level of demand for mortgage and commercial loans, which is affected by such external factors as general economic conditions, market interest rate levels, tax laws,

and the demographics of our lending markets; (2) the direction and magnitude of changes in interest rates and the relationship between market interest rates and the yield on our interest‑earning assets and the cost of our interest‑bearing

liabilities; (3) the rate and amount of credit losses incurred and projected to be incurred by us, increases in the amounts of our nonperforming assets, the level of our loss reserves and management’s judgments regarding the collectability of

loans; (4) changes in the regulation of lending and deposit operations or other regulatory actions, whether industry-wide or focused on our operations, including increases in capital requirements or directives to increase allowances for credit

losses or make other changes in our business operations; (5) legislative or regulatory changes, including those that may be implemented by the current administration in Washington, D.C. and the Federal Reserve Board; (6) possible adverse rulings,

judgments, settlements and other outcomes of litigation; (7) actions undertaken by both current and potential new competitors; (8) the possibility of adverse trends in property values or economic trends in the residential and commercial real

estate markets in which we compete; (9) the effect of changes in general economic conditions; (10) the effect of geopolitical uncertainties; (11) the impact of health crises on our future financial condition and operations; (12) the impact of any

volatility in the banking sector due to the failure of certain banks due to high levels of exposure to liquidity risk, interest rate risk, uninsured deposits and cryptocurrency risk; (13) the loss of our CDFI certification could potentially limit

our grant income awards; and (14) other risks and uncertainties. All such factors are difficult to predict and are beyond our control. Additional factors that could cause results to differ materially from those described above can be found in

our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K or other filings made with the SEC and are available on our website at http://www.cityfirstbank.com and on the SEC’s website at http://www.sec.gov.

Forward-looking statements in this press release speak only as of the date they are made, and we undertake no obligation, and do

not intend, to update these forward-looking statements to reflect events or circumstances occurring after the date of this press release, except to the extent required by law. You are cautioned not to place undue reliance on these

forward-looking statements, which speak only as of the date of this press release.

The following table sets forth the consolidated statements of financial condition as of March 31, 2026 and December 31, 2025.

BROADWAY FINANCIAL CORPORATION

Consolidated Statements of Financial Condition

(In thousands, except share and per share amounts)

March 31, 2026

December 31, 2025

Assets:

Cash and due from banks

1,748

1,676

Interest-bearing deposits in other banks

24,858

8,831

Cash and cash equivalents

26,606

10,507

Securities available-for-sale, at fair value (amortized cost of $294,145 and $265,371)

284,103

256,835

Loans receivable held for investment, net of allowance of $9,509 and $9,424

1,059,262

1,016,540

Accrued interest receivable

7,185

5,999

Federal Home Loan Bank (“FHLB”) stock

999

4,417

Federal Reserve Bank (“FRB”) stock

3,543

Office properties and equipment, net

8,657

8,732

Bank owned life insurance

23,918

23,663

Deferred tax assets, net

6,781

6,711

Core deposit intangible, net

1,384

1,460

Goodwill

Other assets

4,028

7,162

Total assets

1,426,466

1,345,569

Liabilities and equity

Liabilities:

Deposits

1,073,056

917,603

Securities sold under agreements to repurchase

81,249

80,773

Borrowings

72,000

Secured borrowings

Accrued expenses and other liabilities

9,088

12,236

Total liabilities

1,163,393

1,082,612

Non-Cumulative Redeemable Perpetual Preferred stock, Series C; authorized 150,000 shares at March 31,

2026 and December 31, 2025; issued and outstanding 150,000 shares at March 31, 2026 and December 31, 2025; liquidation value $1,000 per share

150,000

Common stock, Class A, $0.01 par value, voting; authorized 75,000,000 shares at March 31, 2026 and

December 31, 2025; issued 6,528,211 shares at March 31, 2026 and 6,409,760 shares at December 31, 2025; outstanding 6,200,983 shares at March 31, 2026 and 6,082,532 shares at December 31, 2025

Common stock, Class B, $0.01 par value, non-voting; authorized 15,000,000 shares at March 31, 2026

and December 31, 2025; issued and outstanding 1,425,404 shares at March 31, 2026 and December 31, 2025

Common stock, Class C, $0.01 par value, non-voting; authorized 25,000,000 shares at March 31, 2026 and

December 31, 2025; issued and outstanding 1,672,562 at March 31, 2026 and December 31, 2025

Additional paid-in capital

143,520

143,194

(Accumulated deficit) retained earnings

(14,428

)

(15,238

)

Unearned Employee Stock Ownership Plan (“ESOP”) shares

(3,806

)

(3,869

)

Accumulated other comprehensive loss, net of tax

(7,175

)

(6,105

)

Treasury stock-at cost, 327,228 shares at March 31, 2026 and at December 31, 2025

(5,326

)

(5,326

)

Total Broadway Financial Corporation and Subsidiary equity

262,881

262,751

Non-controlling interest

192

206

Total liabilities and equity

1,426,466

1,345,569

The following table sets forth the consolidated statements of operations for the three months ended March 31, 2026 and 2025.

BROADWAY FINANCIAL CORPORATION

Consolidated Statements of Operations

(In thousands, except share and per share amounts)

(Unaudited)

Three Months Ended

March 31,

2026

2025

Interest income:

Interest and fees on loans receivable

13,796

13,117

Interest on available-for-sale securities

2,613

1,208

Other interest income

309

476

Total interest income

16,718

14,801

Interest expense:

Interest on deposits

5,990

4,199

Interest on borrowings

1,166

2,557

Total interest expense

7,156

6,756

Net interest income

9,562

8,045

Provision for credit losses

200

1,914

Net interest income after provision for credit losses

9,362

6,131

Non-interest income:

Service charges

Grants

107

Other

438

220

Total non-interest income

589

288

Non-interest expense:

Compensation and benefits

4,886

5,284

Occupancy expense

508

540

Information services

940

706

Professional services

586

700

Advertising and promotional expense

124

Supervisory costs

185

193

Corporate insurance

Amortization of core deposit intangible

Operational loss (recovery)

1,943

Goodwill impairment

Other

655

639

Total non-interest expense

8,015

10,197

Income (loss) before income taxes

1,936

(3,778

)

Income tax expense (benefit)

390

(1,086

)

Net income (loss)

1,546

(2,692

)

Less: Net (loss) income attributable to non-controlling interest

(14

)

Net income (loss) attributable to Broadway Financial Corporation

1,560

(2,689

)

Less: Preferred stock dividends

750

Net income (loss) attributable to common stockholders

810

(3,439

)

Earnings (loss) per common share-basic

0.09

(0.39

)

Earnings (loss) per common share-diluted

0.09

(0.39

)

The following tables set forth the average balances, average yields and costs for the periods indicated. All average balances are daily average balances. The yields

set forth below include the effect of deferred loan fees, and discounts and premiums that are amortized or accreted to interest income or expense.

Quarter Ending

31-Mar-26

31-Mar-25

Average

Balance

Interest

Average

Yield/Cost

Average

Balance

Interest

Average

Yield/Cost

Assets

Interest-earning assets:

Interest-bearing deposits

22,560

201

3.61

28,958

312

4.37

Securities

265,415

2,613

3.99

196,463

1,208

2.49

Loans receivable (1)

1,039,076

13,796

5.38

1,003,730

13,117

5.30

FRB and FHLB stock (2)

6,642

108

6.59

11,188

164

5.94

Total interest-earning assets

1,333,693

16,718

5.08

1,240,339

14,801

4.84

Non-interest-earning assets

42,381

50,173

Total assets

1,376,074

1,290,512

Liabilities and Stockholders’ Equity

Interest-bearing liabilities:

Money market deposits

191,248

1,047

2.22

119,101

257

0.88

Savings deposits

102,463

631

2.50

48,712

0.57

Interest checking and other demand deposits

264,446

1,619

2.48

255,647

1,911

3.03

Certificate accounts

313,330

2,693

3.49

224,317

1,963

3.55

Total deposits

871,487

5,990

2.79

647,777

4,199

2.63

FHLB Borrowings

44,072

421

3.87

149,135

1,529

4.16

Bank Term Funding Program borrowing

Other borrowings

82,359

745

3.67

98,525

1,028

4.23

Total borrowings

126,431

1,166

3.74

247,660

2,557

4.19

Total interest-bearing liabilities

997,918

7,156

2.91

895,437

6,756

3.06

Non-interest-bearing liabilities

113,688

108,638

Stockholders’ equity

264,468

286,437

Total liabilities and stockholders’ equity

1,376,074

1,290,512

Net interest rate spread (3)

9,562

2.18

8,045

1.78

Net interest rate margin (4)

2.91

2.63

Ratio of interest-earning assets to interest-bearing liabilities

133.65

138.52

(1)

Amount includes non-accrual loans.

(2)

FHLB is Federal Home Loan Bank.

(3)

Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities.

(4)

Net interest rate margin represents net interest income as a percentage of average interest-earning assets.

BROADWAY FINANCIAL CORPORATION AND SUBSIDIARY

Selected Financial Data and Ratios (Unaudited)

(Dollars in thousands, except per share data)

Three Months Ended

March 31, 2026

December 31, 2025

September 30, 2025

June 30, 2025

March 31, 2025

Balance Sheets at Quarter End:

Total gross loans

1,068,771

1,025,964

1,023,483

986,944

1,001,847

Allowance for credit losses

9,509

9,424

10,339

9,880

10,260

Investment securities

284,103

256,835

244,005

177,977

185,938

Total assets

1,426,466

1,345,569

1,335,565

1,247,517

1,258,776

Total deposits

1,073,056

917,603

849,205

798,922

776,543

Total shareholders’ equity

262,881

262,751

261,687

284,679

283,566

Profitability for the Quarter:

Interest income

16,718

16,293

15,791

14,397

14,801

Interest expense

7,156

7,563

7,174

6,642

6,756

Net interest income

9,562

8,730

8,617

7,755

8,045

Provision for (recovery of) credit losses

200

679

(454

)

1,914

Non-interest income

589

687

422

355

288

Non-interest expenses

8,015

7,946

31,518

7,522

10,197

Income (loss) before income taxes

1,936

1,424

(23,158

)

1,042

(3,778

)

Income tax expense (benefit)

390

392

736

296

(1,086

)

Net income (loss)

1,546

1,032

(23,894

)

746

(2,692

)

Less: Net (loss) income attributable to non-controlling interest

(14

)

(11

)

Net income (loss) attributable to Broadway Financial Corporation

1,560

1,025

(23,883

)

752

(2,689

)

Less: Preferred stock dividends

750

Net income (loss) attributable to common stockholders

810

275

(24,633

)

(3,439

)

Financial Performance:

Return on average assets (annualized)

0.24

0.08

-7.48

0.00

-1.08

Return on average equity (annualized)

1.24

0.41

-34.12

0.00

-4.87

Net interest margin

2.91

2.62

2.72

2.58

2.63

Efficiency ratio

78.96

84.38

348.69

92.75

122.37

Per Share Data:

Book value per share

12.14

12.28

12.17

14.65

14.47

Weighted average common shares (basic)

8,613,599

8,639,459

8,617,707

8,622,891

8,547,460

Weighted average common shares (diluted)

8,832,496

8,639,459

8,617,707

8,808,467

8,547,460

Common shares outstanding at end of period

9,298,949

9,180,498

9,180,760

9,195,909

9,231,180

Financial Measures:

Loans to assets

74.92

76.25

76.63

79.11

79.59

Loans to deposits

99.60

111.81

120.52

123.53

129.01

Allowance for credit losses to total loans

0.89

0.92

1.01

1.00

1.02

Allowance for credit losses to total nonperforming loans

82.97

84.38

76.36

182.02

201.85

Non-accrual loans to total loans

1.07

1.09

1.32

0.55

0.51

Nonperforming loans to total assets

0.80

0.83

1.01

0.44

0.40

Net charge-offs (annualized) to average total loans

)

0.11

Average Balance Sheets:

Total loans

1,039,076

1,050,757

993,090

989,861

1,003,730

Investment securities

265,415

246,662

206,224

182,351

196,463

Total assets

1,376,074

1,361,026

1,306,782

1,252,380

1,290,512

Total deposits

871,487

775,913

746,143

702,262

647,777

Total equity

264,468

263,266

286,458

284,141

286,437

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