Company: SFBC
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001541119-25-000034
Chunk: 105

Company: Sound Financial Bancorp, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Item 8
Chunk 105
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206 $1,554 Weighted average number of shares outstanding, basic2,556,562 2,540,538 2,555,413 2,539,872 Effect of potentially dilutive common shares21,428 18,477 22,874 18,121 Weighted average number of shares outstanding, diluted2,577,990 2,559,015 2,578,287 2,557,993 Earnings per share, basic$0.80 $0.31 $1.25 $0.61 Earnings per share, diluted$0.79 $0.31 $1.24 $0.61 There were no anti-dilutive securities during the three and six months ended June 30, 2025 and June 30, 2024.

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Note 10 – Leases

We currently have operating leases for branch locations, a loan production office and our corporate office. The term for our leases generally begins on the date we become legally obligated for the rent payments or we take possession of the building premises, whichever is earlier. Our real estate leases have initial terms ranging from one to 10.5 years and typically include one renewal option. As of June 30, 2025, our leases had remaining terms ranging from 8 months to 4.9 years. The operating leases require us to pay property taxes and operating expenses for the properties. We have finance leases for certain equipment, including copier machines. The lease initial term was for 5 years and has a remaining term 4.5 years.The following table presents the lease right-of-use assets and lease liabilities recorded on the Condensed Consolidated Balance Sheets at the dates indicated (in thousands):June 30,2025December 31,2024Operating lease right-of-use assets$3,816 $3,725 Finance lease right-of-use assets117 — Operating lease liabilities4,095 4,013 Finance lease liabilities118 — The following table presents the components of lease expense for the periods indicated (in thousands): Three Months Ended June 30,Six Months Ended June 30,2025202420252024Lease expenseOperating leases$275 $270 $548 $540 Finance leasesAmortization of right-of-use assets13 — 13 — Interest on lease liabilities3 — 3 — Sublease income— (1