Broadway Financial Corporation Announces Election of Paul C. Hudson Chairman of the Board of Directors

Business Wire, Jan 25, 2007

LOS ANGELES -- Broadway Financial Corporation ("Company") (NASDAQ:BYFC), the holding company of Broadway Federal Bank, f.s.b. ("Bank" or "Broadway"), today announced that Paul C. Hudson has been elected Chairman of the Board of Directors of the Company and Bank. Mr. Hudson will also continue to perform his duties as Chief Executive Officer.

Mr. Hudson replaces Elbert T. Hudson who retired December 31, 2006 following tenure on the Board that began in 1959. Mr. Elbert Hudson was elected Chairman of the Board in April 1972 and will continue to serve the Bank as Chairman Emeritus.

Paul Hudson was appointed President and Chief Executive Officer of the Bank and Company in March 1992. During Mr. Hudson's tenure Bank assets have tripled and net income has increased six fold.

Mr. Hudson remains active in the Los Angeles community. He is a past President of the Los Angeles NAACP and past Chairman of the Los Angeles Community Redevelopment Agency. He currently serves on the boards of the Los Angeles County Employees Retirement Association Board of Investments, California Bankers Association, Los Angeles Universal Pre-School, Alliance for College-Ready Public Schools, Los Angeles Community Design Center, Boy Scouts of America, Community Build, Inc., and he was recently named one of KCET's (the Public Broadcasting Service Los Angeles affiliate) "Local Community Heroes" for 2007.

Broadway Federal Bank, which just celebrated its 60th anniversary, is a community-oriented savings bank, which primarily originates residential and commercial mortgage loans in the greater Los Angeles area. The Bank operates four full service branches, three in the city of Los Angeles, and one in the nearby city of Inglewood, California. A new branch is set to open in the Crenshaw District of Los Angeles in the spring. Shareholders, analysts and others seeking information about the Company or the Bank are invited to write to: Broadway Financial Corporation, Investor Relations, 4800 Wilshire Blvd., Los Angeles, CA 90010, or visit our website at www.broadwayfederalbank.com.