Broadway Financial Corporation, Inc. President and CEO Brian E. Argrett to Add Chair Role
March 31 2023 - 11:00AM
Business Wire
Marie Johns to continue as Lead Independent Director and
Wayne Bradshaw elected as Vice Chair
Broadway Financial Corporation, Inc. (Nasdaq: BYFC)
(“Broadway”), the parent company of City First Bank, N.A. (the
“Bank”), announced that its Board of Directors unanimously elected
President and CEO Brian E. Argrett to the role of Board Chair of
both Broadway and the Bank, effective April 1, 2023, on the
two-year anniversary of the merger of equals of Broadway and CFBanc
Corporation and their bank subsidiaries. The Board of Directors
also unanimously elected current Board Chair Wayne-Kent A. Bradshaw
as Vice Chair and reelected Marie C. Johns as Lead Independent
Director. This transition realizes the governance succession plans
established in connection with the merger to elevate Mr. Argrett to
serve as Board Chair while continuing to serve as Chief Executive
Officer.
Mr. Argrett served as a director and CEO of City First Bank from
2011 until the merger on April 1, 2021, and has served as Vice
Chair and CEO of Broadway since the merger.
“Brian is a rare talent with the strong board and executive
leadership ability required to take on the combined role of CEO and
Board Chair. I look forward to working alongside him as Vice Chair
of the Board,” said Mr. Bradshaw. “As we continue to grow,
combining the Chair and CEO roles was designed to enhance effective
decision-making and execution of corporate strategy.”
Mr. Bradshaw served as Board Chair since the merger, and
previously served as the Chief Executive Officer of Broadway since
2012.
“Brian has been a phenomenal leader of City First Bank, bringing
the community development vision of our founders to life with a
clear focus, strategy, and commitment to our mission,” said Ms.
Johns.
Ms. Johns was appointed Lead Independent Director upon the
closing of the merger and formerly served as Board Chair of CFBanc
Corporation from 2018 to 2021. She is the owner of PPC-Leftwich,
LLC, a business development, organizational effectiveness, and
public policy consulting practice, which is based in Washington,
D.C.
Concurrent with the appointments, the Board affirmed its
Corporate Governance Guidelines. Among other things, these
Guidelines define the responsibilities of the Lead Independent
Director.
About Broadway Financial Corporation
Broadway Financial Corporation (Nasdaq-CM: BYFC) conducts its
operations through its wholly-owned banking subsidiary, City First
Bank, National Association, collectively referred to as
CityFirstBroadway, which is a leading provider of financial
products and services to economically underserved urban
communities.
Backed by 75 years of experience, and with operations in
Washington, D.C. and Los Angeles, California, City First Bank
offers a variety of commercial real estate loan products, services,
and depository accounts that support investments in affordable
housing, small businesses, and nonprofit community facilities
located within low-to-moderate income urban neighborhoods.
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230331005309/en/
Investor Relations Brenda J. Battey, Chief Financial Officer,
(323) 556-3264 Investor.relations@cityfirstbroadway.com
Broadway Financial (NASDAQ:BYFC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Broadway Financial (NASDAQ:BYFC)
Historical Stock Chart
From Apr 2023 to Apr 2024