Company: SFBC
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001541119-25-000023
Chunk: 53

Company: Sound Financial Bancorp, Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 1
Chunk 53
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 have initial terms ranging from one to 10.5 years and typically include one renewal option. As of March 31, 2025, our leases had remaining terms ranging from 11 months to 5.2 years. The operating leases require us to pay property taxes and operating expenses for the properties.The following table presents the lease right-of-use assets and lease liabilities recorded on the Condensed Consolidated Balance Sheets at the dates indicated (in thousands):March 31,2025December 31,2024Operating lease right-of-use assets$3,546 $3,725 Operating lease liabilities$3,828 $4,013 The following table presents the components of lease expense for the periods indicated (in thousands): Three Months Ended March 31,20252024Operating lease expenseOffice leases$273 $270 Sublease income— (3)Net lease expense$273 $267 The following table presents the schedule of lease liability payments at the date indicated (in thousands):March 31, 2025Remainder of 2025$1,061 20261,012 2027997 2028844 2029136 Thereafter— Total lease payments4,050 Less: Present value discount222 Present value of lease liabilities$3,828 Lease term and discount rate by lease type consisted of the following at the dates indicated:March 31,2025December 31,2024Weighted-average remaining lease term:Office leases4.0 years4.3 yearsWeighted-average discount rate (annualized):Office leases2.90 %2.88 %

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Supplemental cash flow information related to leases was as follows for the periods indicated (in thousands):Three Months Ended March 31,20252024Cash paid for amounts included in the measurement of lease liabilities for operating leases:Operating cash flowsOffice leases$279 $278 

Note 11 – Subsequent Events 

On April 29, 2025, the Company announced that its Board of Directors declared a quarterly cash dividend of $0.19 per common share, payable on May 23, 2025 to stockholders of record at the close of business on May 9, 2025. 

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