Company: SFBC
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001541119-25-000023
Chunk: 37

Company: Sound Financial Bancorp, Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 1
Chunk 37
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 of Financial Institutions (the Bank’s state banking regulator), which can order the establishment of additional credit loss allowances. Assets which do not currently expose us to sufficient risk to warrant classification as substandard or doubtful but possess weaknesses are required to be designated as special mention. There were no loans classified as doubtful or loss as of March 31, 2025 and December 31, 2024.

The following tables present the internally assigned grades as of March 31, 2025 and December 31, 2024, by type of loan and origination year (in thousands): 

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At March 31, 2025Term Loans Amortized Cost Basis by Origination YearRevolving Loans Amortized Cost BasisRevolving Loans Amortized Cost Basis Converted to Term20252024202320222021PriorTotalOne-to-four family:Pass$2,112 $23,262 $22,393 $74,764 $96,929 $42,317 $— $— $261,777 Substandard— — — 491 101 209 — — 801 Total one-to-four family$2,112 $23,262 $22,393 $75,255 $97,030 $42,526 $— $— $262,578 Home equity:Pass$59 $2,996 $2,911 $2,359 $862 $1,468 $16,278 $967 $27,900 Substandard— — — — — 55 309 62 426 Total home equity$59 $2,996 $2,911 $2,359 $862 $1,523 $16,587 $1,029 $28,326 Commercial and multifamily:Pass$23,140 $34,755 $24,960 $88,745 $109,532 $84,509 $— $— $365,641 Substandard— — — — 6,453 19,443 — — 25,896 Total commercial and multifamily$23,140 $34,755 $24,960 $88,745 $115,985 $103,952 $— $— $391,537 Construction and land: