Broadway Financial Faces Nasdaq Compliance Issue Due to Late Quarterly Report Filing

### Broadway Financial Faces Compliance Challenge Amid Late Filing of Quarterly Report

Broadway Financial Corporation, the parent company of City First Bank, is currently addressing a compliance issue with The Nasdaq Stock Market LLC following a notification received on August 21, 2025. The notification cites a failure to comply with Nasdaq Listing Rule 5250(c)(1) due to the late submission of its Quarterly Report on Form 10-Q for the quarter ending June 30, 2025. The delay arises as the company needs additional time to assess compliance with Accounting Standards Codification Topic 860, which impacts its consolidated financial statements. This situation highlights the complexities financial institutions face in maintaining regulatory compliance while ensuring accurate financial reporting.

The company is granted a 60-day period to devise a plan to rectify this non-compliance, with the potential for an extension on the filing deadline for the Form 10-Q to February 16, 2026, if the plan is accepted. Broadway Financial is working diligently to prepare and submit the required report before the compliance plan deadline. Although the Nasdaq notice currently does not affect the trading or listing status of Broadway’s shares, the company remains cognizant of the risks associated with further delays, which could have broader implications for its market standing.

Broadway Financial operates predominantly through City First Bank, which focuses on serving low-to-moderate income communities in Southern California and Washington, D.C. The bank's mission aligns with broader efforts to promote financial inclusion by offering various loan products, including residential and commercial real estate loans, alongside traditional deposit services. The commitment to these underserved markets underscores Broadway Financial's role in fostering economic growth and stability within its communities, even as it navigates regulatory challenges.

In light of the recent developments, interested parties seeking further information can reach out to Broadway Financial’s investor relations department, located at 4601 Wilshire Boulevard, Suite 150, Los Angeles, CA 90010. The company emphasizes its commitment to transparency and ongoing communication with stakeholders as it works towards compliance and the timely filing of its financial reports.