Company: SFBC
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001541119-25-000041
Chunk: 15

Company: Sound Financial Bancorp, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 2
Chunk 15
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1,031)$(1,253)$(500)$(2,349)$(2,849)Change in net interest income$1,067 $3,484 

Comparison of Results of Operation for the Three and Nine Months Ended September 30, 2025 and 2024

General.  

Q3 2025 vs Q3 2024. Net income increased $541 thousand, or 46.9%, to $1.7 million, or $0.66 per diluted common share, for the three months ended September 30, 2025, compared to $1.2 million, or $0.45 per diluted common share, for the three months ended September 30, 2024, reflecting strong growth in net interest income. The improvement was partially offset by higher provisions for credit losses, a modest decline in noninterest income, and slightly higher income taxes. Noninterest expenses remained relatively flat contributing positively to the overall increase in net income. 

YTD 2025 vs. YTD 2024. Net income increased $2.2 million, or 80.7%, to $4.9 million, or $1.90 per diluted common share, for the nine months ended September 30, 2025, compared to $2.7 million, or $1.05 per diluted common share, for the nine months ended September 30, 2024, primarily driven by higher net interest income. This was partially offset by modest increases in provisions for credit losses, higher noninterest expenses, and an increase in income taxes, as well as a decrease in noninterest income. Overall, the Company’s strong interest income performance was the primarily factor behind the year-to-date improvement in profitability. 

Interest Income  

Three Months Ended September 30,AmountChangePercent   Change20252024Loans, including fees$13,512 $12,876 $636 4.9 %Interest and dividends on investments124 132 (8)(6.1)Cash and cash equivalents1,016 1,830 (814)(44.5)  Total interest income$14,652 $14,838 $(186)(1.3)%

Q3 2025 vs Q3 2024. Total interest income decreased $186 thousand, or 1.3%, to $14.7 million for the three months ended September 30, 2025, from $14.8 million for the three