Broadway Financial Corporation Announces Four Additions to Senior Management Team

Broadway Financial Corporation (the “Company” or “Broadway”) (NASDAQ Capital Market: BYFC), the holding company of City First Bank, National Association (the “Bank” and collectively with the Company, “City First Broadway”), today announced the addition of four experienced senior officers to the management team of City First Broadway. The Board of Directors of City First Broadway announced the appointment of:

• Zack Ibrahim, as Executive Vice President and Chief Financial Officer (“CFO”) of the Company and the Bank. Mr. Ibrahim will also be the Principal Financial Officer and Principal Accounting Officer for Broadway; and,
• Elizabeth Sur, as Executive Vice President, General Counsel, and Chief Risk Officer of both Broadway and the Bank.

In addition, City First Broadway appointed:

• Elise Adams as Chief Accounting Officer and Senior Vice President; and
• Gary Castellaw as Corporate Treasurer and Senior Vice President.

Brian Argrett, President and Chief Executive Officer, said, “I am excited to welcome Zack, Liz, Elise, and Gary to City First Broadway. They are bringing a tremendous combination of experience, knowledge, leadership skills, professionalism, and commitment to excellence that will be invaluable to the organization and help us to continue building a stronger, more expansive, and more impactful City First Broadway. The addition of their combined talents has raised the overall depth of management and oversight for the organization, which are essential for City First Broadway to successfully create differentiated, transformational leadership in banking services for the low-to-moderate income communities that we are serving and expect to serve in the future.”

“These executives were identified and actively recruited through an extensive, thorough process that began many months ago. We believe that Zack and Liz possess dynamic leadership skills and deep industry experience that are vital for improving our operations and strengthening our capabilities. Elise and Gary are highly experienced, talented individuals who will provide further depth for our leadership team and help increase the overall efficiency of City First Broadway.”

These appointments were made, and became effective, as of May 15, 2024. All of these new executives will be based in Washington, D.C. As previously announced, Brenda J. Battey, Executive Vice President and Chief Financial Officer will retire by the end of the second quarter.