Company: SFBC
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001541119-25-000023
Chunk: 56

Company: Sound Financial Bancorp, Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 4
Chunk 56
---
 in conditions, or the degree of compliance with the policies and procedures may deteriorate. Because of the inherent limitations in a cost-effective control procedure, misstatements due to error or fraud may occur and not be detected.

41

(b)Changes in Internal Control over Financial Reporting.

There were no changes in our internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act) that occurred during the three months ended March 31, 2025, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

42

PART II OTHER INFORMATION

Item 1     Legal Proceedings

In the normal course of business, the Company occasionally becomes involved in various legal proceedings.  Any liability from such currently pending proceedings is not expected to have a material adverse effect on the business or financial condition of the Company. 

Item 1A    Risk Factors 

There have been no material changes in the Risk Factors previously disclosed in Item 1A of our 2024 Form 10-K.

Item 2    Unregistered Sales of Equity Securities and Use of Proceeds

(a)    Not applicable.

(b)Not applicable.

(c)The following table sets forth information with respect to our repurchases of our outstanding common shares during the three months ended March 31, 2025: 

Total Number of Shares PurchasedAverage Price Paid per ShareTotal Number of Shares Purchased as Part of Publicly Announced Plans or ProgramsApproximated Dollar Value of Shares That May Yet be Purchased Under the Plans or Programs(1)January 1, 2025 - January 31, 2025—$— —$1,435,350 February 1, 2025 - February 28, 2025—$— —March 1, 2025 - March 31, 2025—$— —Total——$— 

(1)On January 26, 2024, the Company announced that its Board of Directors approved a new stock repurchase program authorizing the Company to purchase up to $1.5 million of the Company’s issued and outstanding common stock from time to time over a period of 12 months in the open market, based on prevailing market prices, or in privately negotiated transactions. This stock repurchase program expired on January 26, 2025.

Item 3    Defaults Upon Senior Securities

None.

Item 4.    Mine Safety Disc