Company: SFBC
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001541119-25-000009
Chunk: 168

Company: Sound Financial Bancorp, Inc.
Filing Date: 2025-03-18
Form: 10-K
Item: Item 8
Chunk 168
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 Loans that have been classified as collateral dependent are loans where substantially all repayment of the loan is expected to come from the operation of or eventual liquidation of the collateral. Collateral dependent loans are evaluated individually for purposes of determining the ACL, which is determined based on the estimated fair value of the collateral. Estimates for costs to sell are included in the determination of the ACL when liquidation of the collateral is anticipated. In cases where the loan is well secured and the estimated value of the collateral exceeds the amortized cost of the loan, no ACL is recorded.The following tables summarize collateral dependent loans by collateral type as of the dates indicated (in thousands):December 31, 2024Commercial Real EstateResidential Real EstateLandOther ResidentialRVs/AutomobilesBusiness Assets TotalReal estate loans:One- to four- family$— $311 $— $364 $— $— $675 Home equity— 298 — — — — 298 Commercial and multifamily3,734 — — — — — 3,734 Construction and land— — 24 — — — 24 Total real estate loans3,734 609 24 364 — — 4,731 Consumer loans:Manufactured homes— — — 521 — — 521 Floating homes— — — 2,363 — — 2,363 Other consumer— — — — 1 — 1 Total consumer loans— — — 2,884 1 — 2,885 Commercial business loans— — — — — 11 11 Total loans$3,734 $609 $24 $3,248 $1 $11 $7,627 

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December 31, 2023Commercial Real EstateResidential Real EstateLandOther ResidentialTotalReal estate loans:One- to four- family$— $664 $— $545 $1,209 Home equity— 84 — — 84 Total real estate loans— 748 — 545 1,293 Consumer loans:Manufactured homes— — — 228 228 Total consumer loans— — — 228 228 Commercial business loans— — — 2,135 2,135 Total loans$—