Broadway Financial Corporation (the “Company”) is a bank holding company based in Los Angeles, California that conducts its operations through its wholly-owned subsidiary, Broadway Federal Bank, f.s.b. (the “Bank” and collectively with the Company, “Broadway”), which is the leading community-oriented savings bank in Southern California serving low-to-moderate income communities.
The Bank traces its origin to Broadway Federal Savings and Loan Association, which was founded in 1946 by a group of civic minded men and women, including H.A. Howard, a real estate broker, Dr. H. Claude Hudson, a dentist and community leader, and Paul R. Williams, a noted architect.
These leaders had identified the need for conventional loans to minority consumers, many of whom were returning veterans. They observed that minority consumers were being ignored by the then existing financial institutions, and loans, if available at all, carried high interest rates.