Broadway Financial Corporation (“Broadway”, “we”, or the
“Company”) (NASDAQ Capital Market: BYFC), parent company of City
First Bank, National Association (the “Bank”, and collectively,
with the Company, “City First Broadway”), today announced the
following executive appointments:
John F. Tellenbach, as Executive Vice
President, West Commercial Regional Executive;
LaShanya Washington, as Executive Vice
President and Chief Credit Officer; and
Sonja S. Wells, Executive Vice President, as
East Commercial Regional Executive.
Mr. Tellenbach joins the Bank from Malaga Bank in Southern
California, where he served as Senior Vice President and Chief
Credit Officer since December 2015, and was responsible for overall
credit quality and growth with a primary focus on multi-family
financing in Southern California. Previously, he served as
Executive Vice President and Chief Banking Officer with Sunwest
Bank from March 2014 until the fall of 2015, and as Senior Vice
President and Group Manager – Business Banking for Comerica Bank
from June 2011 until early 2014. Mr. Tellenbach has over 30 years
of commercial banking experience and has served as a member of
ALCO, Credit Review, Community Reinvestment Act (“CRA”), Product
and Pricing, Compliance, and IT committees of various community
banks.
Ms. Washington is being promoted to Executive Vice President and
Chief Credit Officer. She has served as Deputy Chief Credit Officer
of the Bank since August 2022 and was previously Senior Vice
President and Senior Credit Officer. Prior to joining the Bank in
February 2019 as Credit Risk Officer, she served as Senior Credit
Analyst and Bank Officer for United Bank in Vienna, Virginia, from
late 2018 until early 2019, where she was responsible for
underwriting Commercial and Industrial loans, and CRA loans, as
well as responsible for establishing credit analysis procedures and
training junior credit analysts. Previously, she served as Manager
for Loan Servicing and Accounting for Capital Impact Partners from
November 2015 until August 2018 and performed various lending and
credit related functions with Capital One Bank from June 2011 until
November 2015. Ms. Washington has over 25 years of commercial
banking experience, substantially all of which has been related to
credit risk analysis, and loan underwriting, reviews, servicing,
and administration.
Ms. Wells will assume responsibility for all lending activities
in the Bank’s east coast markets and continue to be based in
Washington, D.C. She has served as Executive Vice President and
Chief Lending Officer, Commercial Banking, of Broadway and the Bank
since the merger of Broadway Financial Corporation and CFBanc
Corporation (“CFBanc”) in April 2021, and previously served as
Senior Vice President and Interim Chief Lending Officer of the Bank
since May 2020. Prior to that appointment, Ms. Wells served as
Senior Vice President and Relationship Manager of the Bank from
July 2015, Senior Relationship Manager with M&T Bank in
Baltimore, Maryland from June 2002 to July 2015, and Small Business
Relationship Sales Manager at First Union National Bank
(Wachovia/Wells Fargo) in Baltimore, Maryland from May 1999 to
2002.
Brian E. Argrett, President and CEO, said, “I am extremely
pleased to announce these stellar new appointments, beginning with
the addition of John Tellenbach to our executive management team.
As we have previously reported, we plan to continue to grow the
Bank supported by the proceeds of the $150 million of equity
capital that we raised last June, and John provides deep expertise,
experience, and customer relationships that are vital to executing
our growth plans, particularly in our western markets in and around
Southern California in an intentional, strategic, and prudent
manner. Given our growth since the merger of Broadway and CFBanc
Corporation, the addition of John will fill an important role in
our management team and provide the Bank with an even deeper pool
of focused and experienced leadership.
“I am also pleased to announce the promotion of LaShanya
Washington to Executive Vice President and Chief Credit Officer,
stepping into and filling a critical position for the Bank. This
promotion formally recognizes the outstanding work and leadership
that LaShanya has provided to the Bank in various credit risk
management positions over the past four years, most recently as our
Deputy Chief Credit Officer, and we look forward to her further
contributions in executive leadership across the Bank.
“In addition, I am pleased to announce that Sonja Wells will be
taking broader responsibility for driving our disciplined loan
growth in our eastern markets in and around Washington, D.C., and
providing important leadership for our lending activities in the
eastern U.S. Sonja has been an invaluable resource and partner as
the Bank’s Chief Lending Officer since the merger of Broadway and
CFBanc Corporation almost two years ago, and this new role will
allow her to be keenly focused on our lending activities in the
low-to-moderate income communities in our eastern markets.”
About Broadway Financial Corporation
Broadway Financial Corporation conducts its operations through
its wholly-owned banking subsidiary, City First Bank, National
Association, which is a leading community-oriented bank in Southern
California and in the Washington, D.C. market 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.
Stockholders, analysts, and others seeking information about the
Company are invited to write to: Broadway Financial Corporation,
Investor Relations, 4601 Wilshire Boulevard, Suite 150, Los
Angeles, CA 90010 or contact Investor Relations at the phone number
or email address below.
Cautionary Statement Regarding Forward-Looking
Information
This press release includes “forward-looking statements” within
the meaning of the safe harbor provisions of the United States
Private Securities Litigation Reform Act of 1995. All statements
other than statements of historical facts contained in this press
release, including statements regarding our future results of
operations or financial condition, business strategy and plans and
objectives of management for future operations and capital
allocation and structure, are forward-looking statements.
Forward-looking statements often include words such as “expect,”
“estimate,” “project,” “budget,” “forecast,” “anticipate,”
“intend,” “plan,” “may,” “will,” “could,” “should,” “believes,”
“predicts,” “potential,” “continue,” “poised,” “optimistic”,
“prospects”, “ability”, “looking”, “forward”, “invest”, “grow”,
“improve”, “deliver” and similar expressions, but the absence of
such words or expressions does not mean a statement is not
forward-looking. These forward-looking statements are based upon
our management’s current expectations and involve known and unknown
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. Such
risk factors include, among others: uncertainty as to the duration,
scope and impacts of the COVID-19 pandemic; political and economic
uncertainty, including the possibility of declines in global
economic conditions or the stability of credit and financial
markets for various reasons including the military conflict between
Russia and Ukraine; changes in interest rates; changes in the
monetary and fiscal policies of the U.S. Government, including
policies of the United States Department of the Treasury and the
Federal Reserve Board; changes in legislation, regulation, policies
or administrative practices, whether by judicial, governmental, or
legislative action, and other changes pertaining to banking,
securities, taxation, financial accounting and reporting, and
environmental protection and our ability to comply with such
changes in a timely manner; possible effects of changes in real
estate markets, which may affect our net income and future cash
flows, or the market value of our assets, including investment
securities; the risk of possible adverse rulings, judgments,
settlements and other outcomes of litigation; the risk that
operational issues stemming from, and/or capital spending
necessitated by, the potential need to adapt to industry changes in
information technology systems, on which we are highly dependent,
and other important factors that could cause actual results to
differ materially from those projected. All such factors are
difficult to predict and are beyond our control. Additional factors
that could cause results to differ materially from those described
above can be found in our annual reports on Form 10-K, quarterly
reports on Form 10-Q, current reports on Form 8-K or other filings
made with the SEC and are available on our website at
http://www.cityfirstbank.com/node/430 and on the SEC’s website at
http://www.sec.gov.
Forward-looking statements in this press release speak only as
of the date they are made, and we undertake no obligation, and do
not intend, to update these forward-looking statements to reflect
events or circumstances occurring after the date of this press
release, except to the extent required by law. You are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date of this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20230321005987/en/
Investor Relations Brenda J. Battey, Chief Financial Officer,
(323) 556-3264 Investor.relations@cityfirstbroadway.com
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