3.5 star ratingAverage User Rating:
3.5 star rating based on 3 reviews.

Broadway Federal Bank

Broadway Federal Bank Locations
4800 Wilshire Boulevard
Los Angeles, CA 90010
323.634.1700
www.broadwayfed.com

FDIC

Broadway Federal Bank is headquartered in Los Angeles and is the 108th largest bank in the state of California. It is also the 1,763rd largest bank in the nation. It was established in 1947 and as of December of 2012, it had grown to 71 employees at 4 locations. Broadway Federal Bank has a 2-star health rating.

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Broadway Federal Bank In Los Angeles Alerting About Phishing -- ?Was There A Data Breach? (Forum) - 5/31/2012

Broadway Federeal Bank in Los Angeles is putting out a major alert warning people not to give out their security information (such as passwords, PINS) to anyone contacting them, whether via phone, e-mail, texting, or other.  The bank is sending out

Competitive Long-Term CD Rates at Broadway Federal Bank in Los Angeles - Available Nationwide - 5/18/2010

Broadway Federal Bank continues to offer top mid-term and long-term CD rates. I last reported on the bank on May 1st when the bank raised its 24-month internet CD rate to 2.53% APY. This 24-month CD ...

Very Competitive 2-Year CD Rate at Broadway Federal Bank - Available Nationwide - 5/1/2010

Broadway Federal Bank has increased the rate on its 2-year online CD from 2.02% to 2.53% APY. Minimum deposit is $1,000. This is listed at Broadway Federal's home page and on its Open-An-Account page ...

Looking for the Best CD Rates - How I Found a Deal at Broadway Federal Bank in SoCal - 1/27/2010

I received an email this morning from a reader who asked about the highest CD rate available in Southern California. The reader had a 5-year CD that was maturing, and she wanted to roll it over into ...

2009

2008



Data for Q4 2012


Institution Statistics


Broadway Federal Bank, f.s.b.
OTS #05141
FDIC Certificate #30306
BankRate ReportView
Year Established1947
Employees71
Primary RegulatorOCC

Assets and Liabilities

Assets$374.07 million
Loans$270.78 million
Deposits$258.44 million
Equity Capital$33.58 million
Loan Loss Allowance$15.88 million
Unbacked Noncurrent Loans$33.91 million
Real Estate Owned$8.32 million

Historic Data - December 2011

Assets$414.30 million
Equity Capital$31.57 million
Loan Loss Allowance$17.30 million
Unbacked Noncurrent Loans$44.08 million
Real Estate Owned$6.70 million

Profit Margin - Quarterly

Net Interest Margin3.91%
Return on Assets0.54%
Return on Equity6.47%
Interest Income$19.92 million

Institution Health


Overall Score:
2 out of 5
2
Texas Ratio1
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2012 Broadway Federal Bank had $42.23 million in non-current loans and owned real-estate with $49.46 million in equity and loan loss allowances on hand to cover it. This gives Broadway Federal Bank a Texas Ratio of 85.38% which is poor. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend4
The Texas Ratio for Broadway Federal Bank decreased slightly from 103.91% as of December 31, 2011 to 85.38% as of December 31, 2012, resulting in a positive change of 17.83%.This indicates that the balance sheet and financial strength for Broadway Federal Bank has improved slightly in recent periods.
Deposit Growth1
In the past year, Broadway Federal Bank has decreased its total deposits by -$38.75 million, resulting in -13.04% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Broadway Federal Bank has shown is poor.
Capitalization5
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Broadway Federal Bank has $374.07 million in assets with $49.46 million in equity, resulting in a capitalization level of 13.22%, which is excellent.
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24 Month Rate
5 stars - Umbrella - Saturday, June 16, 2012 - 11:50 AM

I was offered 1.25% for their 24 month CD when I phoned 6/15/12.

3

Opened A Two Year CD Online.
5 stars - grnbsh - Sunday, June 20, 2010 - 3:44 AM

Opened a two-year CD online on 05/31/2010, at 2.51%.  I sent them a check on 06/08/2010 and it was received by 06/10/2010, but the rates dropped to 2%, then to 1.5% in the meantime for the two-year CD.  I was concerned about this, but since they guaranteed the rate to me, everything work out fine.  They answered the phone each time I called, which was two phone calls, and answered after 4-5 rings.  The customer service representative informed me that my rate at the time of opening the account was good for thirty days, which I got in writing, both in e-mail and regular mail.  I informed the service representative that I would write a positive review, because everything went great.  Of course, I appreciate the updates that this website has for the best rates at banks and credit unions.

3

Broadway Federal Bank Review
1 stars - tomlawler - Wednesday, June 16, 2010 - 3:55 PM

I had a poor experience with this outfit last week.  Their 3.56% 6-year CD  attracted my attention so I called their LA office last Monday (6/710).  By the way, their phone system is just plain horrible as it takes several options to finally get a live person.  When I finally do get a person, whose name I'll omit, she states that the rate was still in effect.   I tell her that's great and I'll get my check and application (printed from their website)  in the mail immediately by priority mail.  I do so and it's postmarked that very day.  Two days later I get a call back from the same rep saying that the rate has dropped  over a full percentage point.  Obviously I no longer want the CD, but I inquire why I shouldn't get the promo due to the postmark on my application.  She had no good answer.  Long story short:  This bank wasted my time and is not user friendly.

 

PS   Depositaccounts.com needs to remove Broadway Federal from the  6+ year CD offers.  The 3.56% yield     is no longer available as of 6/8/10. 

2
 
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