Broadway Financial Corporation Announces Notification From Nasdaq Regarding Delinquent Form 10-Q

Broadway Financial Corporation ("Broadway", "we", or the "Company") (NASDAQ:BYFC), parent company of City First Bank, National Association, announced today it received a letter from the Nasdaq Stock Market LLC ("Nasdaq"), dated November 16, 2023, informing the Company that it no longer complies with Nasdaq Listing Rule 5250(c)(1) because Broadway has not yet filed its Quarterly Report on Form 10-Q for the period ended September 30, 2023 (the "Form 10-Q").

Under Nasdaq's Listing Rules, the Company must submit a plan to regain compliance to Nasdaq within 60 calendar days of the date of the letter. If Broadway's plan is accepted, then Nasdaq may grant an exception of up to 180 calendar days from the original due date of the Form 10-Q.

Separately, on November 15, 2023, the Company received a letter from Nasdaq confirming that Broadway had regained compliance with the minimum bid price requirements under Nasdaq Listing Rule 5550(a)(2) for maintaining its listing on The Nasdaq Capital Market.

Additional information about the notification letter from Nasdaq, dated November 16, 2023, can be found in the Company's Form 8-K filed with the SEC on November 22, 2023, which is available free of charge at the SEC's website, www.sec.gov.