BYFCHIGH SIGNALFINANCIAL10-K

BYFC experienced a dramatic deterioration in cash position and operating cash generation despite deposit growth.

The company's cash and equivalents plummeted from $61.4M to $10.5M, representing a severe liquidity contraction that raises immediate concerns about financial stability. While deposit growth of 23% to $917.6M suggests some business momentum, the collapse in operating cash flow from $1.4M to just $230K indicates fundamental operational stress that could impair the bank's ability to fund operations and growth.

Comparing 2026-03-31 vs 2025-03-31View on EDGAR →
FINANCIAL ANALYSIS

BYFC's financial profile shows concerning deterioration in liquidity and cash generation capability. The company's cash position contracted dramatically from $61.4M to $10.5M, while operating cash flow fell substantially from $1.4M to $230K, signaling potential operational distress. However, total deposits grew meaningfully by 23% to $917.6M and revenue increased modestly to $184K, suggesting some underlying business activity remains, though insufficient to offset the severe cash flow pressures.

FINANCIAL STATEMENT CHANGES
Operating Cash Flow
Cash Flow
-83.5%
$1.4M→$230K

Operating cash flow fell 83.5% — earnings quality concerns; investigate working capital changes and non-cash items.

Cash & Equivalents
Balance Sheet
-82.9%
$61.4M→$10.5M

Cash declined 82.9% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

Capital Expenditure
Cash Flow
+76.1%
$138K→$243K

Capital expenditure jumped 76.1% — major investment cycle underway; assess returns on deployment.

Total Deposits
Balance Sheet
+23.1%
$745.4M→$917.6M

Deposits grew 23.1% — expanding customer base or increased trust in the institution.

Revenue
P&L
+18.7%
$155K→$184K

Revenue growing 18.7% — solid top-line momentum, watch margins for quality of growth.

LANGUAGE CHANGES
NEW — 2026-03-31
PRIOR — 2025-03-31
ADDED
Aggregate market value of the voting and non voting common stock held by non affiliates as of June 30, 2025: $ 54.2 million.
As of March 18, 2026, 6,206,166 shares of the registrant s Class A voting common stock, 1,425,404 shares of the registrant s Class B non-voting common stock and 1,672,562 shares of the registrant s Class C non voting common stock were outstanding.
In 1996, the conversion was completed and Broadway Federal became a wholly owned subsidiary of the Company.
In 2021, the Company completed its merger (the Merger ) with CFBanc Corporation ( CFBanc ), with the Company continuing as the surviving entity.
Available Information Our internet website address is www.cityfirstbank.com.
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REMOVED
Aggregate market value of the voting and non voting common stock held by non affiliates as of June 30, 2024: $ 38.1 million.
As of March 21, 2025, 6,022,227 shares of the registrant s Class A voting common stock, 1,425,574 shares of the registrant s Class B non-voting common stock and 1,672,562 shares of the registrant s Class C non voting common stock were outstanding.
The conversion was completed, and Broadway Federal became a wholly owned subsidiary of the Company, in January 1996.
On April 1, 2021, the Company completed its merger (the Merger ) with CFBanc Corporation ( CFBanc ), with the Company continuing as the surviving entity.
Reverse Stock Split On October 31, 2023, the Company effected a reverse stock split of the Company s outstanding shares of Class A common stock, Class B common stock, and Class C common stock, par value $0.01 per share, at a ratio of 1-for-8 (the Reverse Stock Split ).
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