Company: SFBC
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001541119-25-000009
Chunk: 38

Company: Sound Financial Bancorp, Inc.
Filing Date: 2025-03-18
Form: 10-K
Item: Item 1
Chunk 38
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. These deposits consisted of $12.2 million in certificates of deposit, $3.7 million in money 

24

market accounts and $17 thousand in checking accounts at December 31, 2024. These accounts must be 50% collateralized if the amount on deposit exceeds FDIC insurance of $250 thousand. We use letters of credit from the FHLB of Des Moines as collateral for these deposits. The Company had outstanding letters of credit from the FHLB of Des Moines with a notional amount of $8.0 million and $10.0 million at December 31, 2024 and 2023, respectively, to secure public fund deposits. 

The following table shows rate and maturity information for our certificates of deposit at December 31, 2024 (dollars in thousands):

 0.00-1.99%2.00-3.99%4.00-5.99%TotalPercent of TotalCertificate accounts maturing in quarter ending:    March 31, 2025$1,429 $5,873 $108,231 $115,533 39.1 %June 30, 2025562 26,733 69,471 96,766 32.7 September 30, 2025124 17,970 30,414 48,508 16.4 December 31, 2025152 6,331 7,027 13,510 4.6 March 31, 2026479 1,485 1,382 3,346 1.1 June 30, 2026264 1,170 2,830 4,264 1.4 September 30, 2026112 1,333 3,527 4,972 1.7 December 31, 202650 5,864 — 5,914 2.0 March 31, 2027121 212 — 333 0.1 June 30, 202750 243 283 576 0.2 September 30, 20277 121 — 128 — December 31, 2027— 342 — 342 0.1 Thereafter— 896 734 1,630 0.6 Total$3,350 $68,573 $