Broadway Financial Enters Definitive Agreement With Holder of Series A Preferred Stock to Exchange for Common Stock

Broadway Financial Corporation

, the holding company of Broadway Federal Bank, f.s.b., today announced it has entered into an agreement, dated March 19, 2012, with the institutional holder of its Series A preferred stock pursuant to which the holder will exchange its Series A Preferred in the Company for new common stock valued at a discount of 50% to the aggregate liquidation preference of approximately $550,000.