Company: SFBC
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001541119-25-000034
Chunk: 119

Company: Sound Financial Bancorp, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Item 8
Chunk 119
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,453 14,915 5.92 1,026,602 14,039 5.50 Interest-bearing liabilities:Savings and money market accounts346,655 2,258 2.61 301,454 2,115 2.82 Demand and NOW accounts138,150 107 0.31 153,739 148 0.39 Certificate accounts288,286 2,860 3.98 317,496 3,731 4.73 Subordinated notes11,777 168 5.72 11,735 168 5.76 Borrowings25,007 267 4.28 40,000 429 4.31 Total interest-bearing liabilities809,875 5,660 2.80 %824,424 6,591 3.22 %Net interest income$9,255 $7,448 Net interest rate spread3.12 %2.28 %Net earning assets$200,578  $202,178 Net interest margin3.67 %2.92 %Average interest-earning assets to average interest-bearing liabilities124.77 % 124.52 %Noninterest-bearing deposits$121,906 $128,878 Total deposits$894,997 $5,225 2.34 %$901,567 $5,994 2.67 %Total funding(2)$931,781 $5,660 2.44 %$953,302 $6,591 2.78 %

(1) Calculated net of deferred loan fees, loan discounts and loans in process.

(2)  Total funding is the sum of average interest-bearing liabilities and average noninterest-bearing deposits. The cost of total funding is calculated as annualized total interest expense divided by total funding.

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Six Months Ended June 30,20252024AverageOutstandingBalanceInterestEarned/PaidYield/Rate AnnualizedAverageOutstandingBalanceInterestEarned/PaidYield/Rate AnnualizedInterest-earning assets:Loans receivable$895,926 $26,283 5.92 %$893,646 $24,553 5.53 %Investments11,551 232 4.05 12,633 244 3.88 Cash and cash equivalents99,304 2,107 4