Company: SFBC
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001541119-25-000023
Chunk: 27

Company: Sound Financial Bancorp, Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 1
Chunk 27
---
ainedEarningsAccumulated Other ComprehensiveLoss, net of taxTotalStockholders’EquityBalance, at December 31, 20232,549,427 $25 $27,990 $73,627 $(988)$100,654 Net income— — — 770 — 770 Other comprehensive loss, net of tax— — — — (62)(62)Share-based compensation— — 95 — — 95 Restricted common stock awards issued8,048 — — — — Cash dividends paid on common stock ($0.19 per share)— — (486)— (486)Common stock repurchased(164)— (1)(4)— (5)Common stock options exercised1,235 — 26 — — 26 Balance, at March 31, 20242,558,546 $25 $28,110 $73,907 $(1,050)$100,992 

See Notes to Condensed Consolidated Financial Statements

6

SOUND FINANCIAL BANCORP, INC. AND SUBSIDIARY

Condensed Consolidated Statements of Cash Flows (unaudited)

(In thousands)

 Three Months Ended March 31, 20252024CASH FLOWS FROM OPERATING ACTIVITIES:  Net income$1,167 $770 Adjustments to reconcile net income to net cash from operating activities:Amortization of net premiums on investments22 22 Release of credit losses(203)(33)Depreciation and amortization144 178 Share based compensation81 95 Fair value adjustment on mortgage servicing rights99 65 Right of use assets amortization245 237 Change in lease liabilities(251)(245)Change in cash surrender value of BOLI(195)(177)Net change in advances from borrowers for taxes and insurance1,190 1,099 Deferred income tax(273)— Net gain on sale of loans(49)(90)Proceeds from sale of loans held-for-sale2,023 4,234 Originations of loans held-for-sale(3,772)(3,937)Change in operating assets and liabilities:Accrued interest receivable(69)(165)Other assets351 1,549 Accrued interest payable(179)(98)Other liabilities1,521 15 Net cash provided by operating