Company: SFBC
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001541119-25-000023
Chunk: 105

Company: Sound Financial Bancorp, Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 8
Chunk 105
---
.76 Borrowings25,000 262 4.25 40,000 429 4.31 Total interest-bearing liabilities803,050 5,635 2.85 %811,436 6,300 3.12 %Net interest income$8,071 $7,460 Net interest rate spread2.68 %2.32 %Net earning assets$202,695  $205,393 Net interest margin3.25 %2.95 %Average interest-earning assets to average interest-bearing liabilities125.24 % 125.31 %Noninterest-bearing deposits$126,215 $132,438 Total deposits$892,499 $5,205 2.37 %$892,150 $5,703 2.57 %Total funding(2)$929,265 $5,635 2.46 %$943,874 $6,300 2.68 %

(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.

34

Rate/Volume Analysis

The following table presents, for the periods indicated, the dollar amount of changes in interest income and interest expense for major components of interest-earning assets and interest-bearing liabilities. It distinguishes between changes related to outstanding balances and changes due to interest rates. For each category of interest-earning assets and interest-bearing liabilities, information is provided on changes attributable to (i) changes in volume (i.e., changes in volume multiplied by old rate) and (ii) changes in rate (i.e., changes in rate multiplied by old volume). For purposes of this table, changes attributable to both rate and volume, which cannot be segregated, have been allocated proportionately to the change due to volume and the change due to rate (dollars in thousands). 

 Three Months Ended March 31, 2025 vs. 2024 Increase (Decrease) due toTotalIncrease (Decrease) VolumeRateInterest-earning assets:   Loans receivable$20 $335 $355 Investments(9)6 (3)Cash and cash equivalents(120)(286)(406)Total interest-earning assets(109)55 (54)