Company: SFBC
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001541119-25-000023
Chunk: 25

Company: Sound Financial Bancorp, Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 1
Chunk 25
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MENTS AND CONTINGENCIES (NOTE 7)— — STOCKHOLDERS’ EQUITYPreferred stock, $0.01 par value, 10,000,000 shares authorized, none issued or outstanding— — Common stock, $0.01 par value, 40,000,000 shares authorized, 2,566,069 and 2,564,907 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively25 25 Additional paid-in capital28,515 28,413 Retained earnings76,952 76,272 Accumulated other comprehensive loss, net of tax(1,061)(1,044)Total stockholders’ equity104,431 103,666 Total liabilities and stockholders’ equity$1,069,186 $993,633 

See Notes to Condensed Consolidated Financial Statements

3

Table of Contents

SOUND FINANCIAL BANCORP, INC. AND SUBSIDIARY

Condensed Consolidated Statements of Income (unaudited)

(In thousands, except share and per share amounts)

 Three Months Ended March 31,20252024INTEREST INCOMELoans, including fees$12,588 $12,233 Interest and dividends on investments, cash and cash equivalents1,118 1,527 Total interest income13,706 13,760 INTEREST EXPENSEDeposits5,205 5,703 Borrowings262 429 Subordinated notes168 168 Total interest expense5,635 6,300 Net interest income8,071 7,460 RELEASE OF CREDIT LOSSES(203)(33)Net interest income after release of credit losses8,274 7,493 NONINTEREST INCOMEService charges and fee income684 612 Earnings on BOLI195 177 Mortgage servicing income269 282 Fair value adjustment on MSRs(99)(65)Net gain on sale of loans49 90 Total noninterest income1,098 1,096 NONINTEREST EXPENSESalaries and benefits4,595 4,543 Operations1,365 1,457 Regulatory assessments221 189 Occupancy437 444 Data processing1,293 1,017 Net loss on OREO and repossessed assets3 6 Total noninterest expense