Company: SFBC
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001541119-25-000009
Chunk: 115

Company: Sound Financial Bancorp, Inc.
Filing Date: 2025-03-18
Form: 10-K
Item: Item 7
Chunk 115
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standingBalanceInterestEarned/PaidYield/Rate AnnualizedInterest-earning assets:Loans receivable$896,690 $50,499 5.63 %$870,227 $46,470 5.34 %Investments12,468 508 4.07 13,661 518 3.79 Cash and cash equivalents124,259 6,367 5.12 74,708 3,621 4.85 Total interest-earning assets (1)1,033,417 57,374 5.55 %958,596 50,609 5.28 Interest-bearing liabilities:Savings and money market accounts319,314 9,145 2.86 194,810 2,783 1.43 Demand and NOW accounts151,528 568 0.37 204,922 736 0.36 Certificate accounts309,441 14,363 4.64 280,238 10,617 3.79 Subordinated notes11,740 672 5.72 11,698 672 5.74 Borrowings37,623 1,624 4.32 43,977 1,951 4.44 Total interest-bearing liabilities829,646 26,372 3.18 %735,645 16,759 2.28 %Net interest income$31,002 $33,850 Net interest rate spread2.37 %3.00 %Net earning assets$203,771 $222,951 Net interest margin3.00 %3.53 %Average interest-earning assets to average interest-bearing liabilities124.56 %130.31 %Total deposits911,424 24,076 2.64 %834,418 14,136 1.69 %Total funding(2)960,787 26,372 2.74 %890,093 16,759 1.88 %

(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 average total funding.

57

Rate/Volume Analysis

The following table presents the dollar amount of changes in interest income and interest expense