Broadway Federal Bank Receives Bank Enterprise Award from U.S. Treasury’s CDFI Fund

  Broadway Federal Bank Receives Bank Enterprise Award from U.S. Treasury’s
  CDFI Fund

Business Wire

LOS ANGELES -- November 18, 2013

Broadway Financial Corporation (the “Company”) (NASDAQ Capital Market: BYFC),
announced that on Friday, November 15^th, its wholly-owned subsidiary,
Broadway Federal Bank, f.s.b. (the “Bank”), received a Bank Enterprise Award
(“BEA”) of $199,951 as part of the fiscal year 2013 BEA Program offered by the
U.S. Department of the Treasury’s Community Development Financial Institutions
Fund (“CDFI Fund”).

The Bank was one of 85 recipients under the fiscal year 2013 BEA Program,
which awarded a total of approximately $17 million to support the selected
depositary institutions in their efforts to expand financial support for
low-income communities by encouraging community and economic development
across the country. Recipients of the awards are required to invest their
awards in eligible activities, such as affordable housing projects, small
business loans and commercial real estate projects, in distressed communities.
The activities that qualify a potential recipient for an award under the BEA
Program occur in census tracts where at least 30 percent of the population
lives at or below the national poverty level and where the unemployment rate
is 1.5 times above the national average. Awards granted were selected after a
comprehensive review of 98 applications received by the CDFI Fund from
depository institutions across the nation, which represented an increase of 38
percent over the number of applicants over the prior year and the largest
number of applicants since fiscal year 2002.

Chief Executive Officer, Wayne Bradshaw, stated, “We are honored to be
selected as a recipient under the BEA Program, which recognizes Broadway’s
long standing commitment to serving low-to-moderate income communities in
Southern California. The award will provide valuable support for advancing our
mission by strengthening our earnings and capital base, and will further our
efforts to build our loan portfolio, particularly in multi-family properties,
and increase other community development activities.”

About the BEA Program

The Bank Enterprise Award Program (BEA Program) rewards FDIC-insured
depository institutions for making investments in the most distressed
communities in the country. In order to receive an award, depository
institutions must successfully demonstrate an increase in investment in
Community Development Financial Institutions (CDFIs), or in their own lending,
investing, or service-related activities in census tracts where at least 30
percent of the population lives at or below the national poverty level and
where the unemployment rate is 1.5 times above the national average. The BEA
Program awards also help depository institutions offset some of their risk and
meet capital ratio requirements. Depository institutions that receive a BEA
Program award are required to invest their awards in eligible activities in
distressed communities. Since its inception in 1994, the BEA Program has
awarded grants totaling over $393 million.

For more information about the BEA Program, please visit the CDFI Fund’s
website atwww.cdfifund.gov/bea.

About the CDFI Fund

The CDFI Fund was created to promote economic and community development by
empowering America’s underserved and distressed communities. As part of the
U.S. Department of the Treasury, the CDFI Fund fosters the creation and
increases the capacity of community-based financial intuitions through
investments and assistance. Since its creation in 1994, the CDFI Fund has
awarded more than $1.8 billion to CDFIs around the country. By increasing
funding to CDFIs that specialize in providing affordable credit, the CDFI Fund
helps build businesses, create jobs, and revitalize neighborhoods.

For more information about the CDFI Fund, visit the CDFI Fund’s website
atwww.cdfifund.gov.

About Broadway Financial Corporation

Broadway Financial Corporation conducts its operations through its
wholly-owned subsidiary, Broadway Federal Bank, f.s.b., which is the leading
community-oriented savings bank in Southern California serving low to moderate
income communities. We offer a variety of residential and commercial real
estate loan products for consumers, businesses, and non-profit organizations,
other loan products, and a variety of deposit products, including checking,
savings and money market accounts, certificates of deposits and retirement
accounts. The Bank operates three full service branches, two in the city of
Los Angeles, and one located in the nearby city of Inglewood, California.

Shareholders, analysts and others seeking information about the Company are
invited to write to: Broadway Financial Corporation, Investor Relations, 5055
Wilshire Blvd., Suite 500, Los Angeles, CA 90036, or visit our website at
www.broadwayfederalbank.com.

This press release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. These forward-looking
statements are based upon our management’s current expectations, and involve
risks and uncertainties. Actual results or performance may differ materially
from those suggested, expressed, or implied by the forward-looking statements
due to a wide range of factors including, but not limited to, the general
business environment, the real estate market, competitive conditions in the
business and geographic areas in which the Company conducts its business,
regulatory actions or changes and other risks detailed in the Company’s
reports filed with the Securities and Exchange Commission, including the
Company’s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. The
Company undertakes no obligation to revise any forward-looking statement to
reflect any future events or circumstances, except to the extent required by
law.

Contact:

Broadway Financial Corporation
Wayne-Kent A. Bradshaw, Chief Executive Officer, (323) 556-3248
Brenda J. Battey, Chief Financial Officer, (323) 556-3264
investor.relations@broadwayfederalbank.com