Company: SFBC
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001541119-25-000009
Chunk: 7

Company: Sound Financial Bancorp, Inc.
Filing Date: 2025-03-18
Form: 10-K
Item: Item 1
Chunk 7
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 consumer loans27,881 3.1 14,531 1.6 Commercial business loans9,174 1.0 10,435 1.2 Total adjustable-rate loans429,471 47.6 428,490 47.8 Total loans901,827 100.0 %896,160 100.0 %Less:Premiums718 829 Deferred fees and discounts(2,374)(2,511)Allowance for credit losses on loans(8,499)(8,760)Total loans, net$891,672 $885,718 

At December 31, 2024 and 2023, we had floating or variable rate loans totaling $429.5 million and $428.5 million, respectively. At December 31, 2024, a total of $294.0 million of our floating or variable rate loans had interest rate floors below which the loan's contractual interest rate may not adjust, of which $135.5 million were at their floors.

8

Loan Maturity and Repricing. The following table sets forth certain information at December 31, 2024, regarding the amount of  loans in our portfolio based on their contractual terms to maturity (in thousands).  The table does not reflect the effects of possible prepayments or enforcement of due-on-sale clauses.

One Year or LessAfter One Year Through Five YearsAfter Five Years Through Fifteen YearsAfter Fifteen YearsTotalReal estate loans:One-to-four family$6,958 $10,190 $17,463 $235,073 $269,684 Home equity159 453 2,664 23,410 26,686 Commercial and multifamily32,220 109,169 210,839 19,288 371,516 Construction and land56,008 9,290 7,779 — 73,077 Total real estate loans95,345 129,102 238,745 277,771 740,963 Consumer loans:Manufactured homes57 397 10,664 30,010 41,128 Floating homes1,364 5,755 10,120 69,172 86,411 Other consumer1,883 8,407 2,824 4,606 17,720 Total consumer loans3,304 14,559 23,608 103,788 145,259