Company: SFBC
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001541119-25-000034
Chunk: 120

Company: Sound Financial Bancorp, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Item 8
Chunk 120
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.28 114,082 3,002 5.29 Total interest-earning assets (1)1,006,781 28,622 5.73 1,020,361 27,799 5.48 Interest-bearing liabilities:Savings and money market accounts341,068 4,317 2.55 292,954 3,981 2.73 Demand and NOW accounts139,520 214 0.31 156,751 289 0.37 Certificate accounts289,119 5,899 4.11 316,495 7,426 4.72 Subordinated notes11,772 336 5.76 11,730 336 5.76 Borrowings25,003 529 4.27 40,000 859 4.32 Total interest-bearing liabilities806,482 11,295 2.82 %817,930 12,891 3.17 %Net interest income$17,327 $14,908 Net interest rate spread2.91 %2.31 %Net earning assets$200,299 $202,431 Net interest margin3.47 %2.94 %Average interest-earning assets to average interest-bearing liabilities124.84 %124.75 %Noninterest-bearing deposits$124,048 $130,658 Total deposits$893,755 $10,430 2.35 %$896,858 $11,696 2.62 %Total funding(2)$930,530 $11,295 2.45 %$948,588 $12,891 2.73 %

(1) Calculated net of deferred loan fees, loan discounts and loans in process.

(2)  Total funding is the sum of average interest-bearing liabilities and average noninterest-bearing deposits. The cost of total funding is calculated as annualized total interest expense divided by total funding.

Rate/Volume Analysis

The following table presents, for the periods indicated, the dollar amount of changes in interest income and interest expense for major components of interest-earning assets and interest-bearing liabilities. It distinguishes between changes related to outstanding balances and changes due to interest rates. For each category of interest-earning assets and interest-bearing liabilities, information is provided on changes attributable to (i) changes in volume (i.e., changes in volume multiplied by old rate