Company: SFBC
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001541119-25-000023
Chunk: 30

Company: Sound Financial Bancorp, Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 1
Chunk 30
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 are effective for public business entities for annual periods beginning after December 15, 2024, with early adoption permitted. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated results of operations, financial position or cash flows.

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), which will change the disclosures about a public business entity’s expenses and address requests from investors for more detailed information about the types of expenses (for example, employee compensation, depreciation and amortization) in expense captions. This ASU’s amendments are effective for public business entities for annual reporting periods beginning after December 15, 2026, and for interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of this guidance. 

8

Note 3 – Investments

At March 31, 2025, the Company did not own any debt securities classified as trading or any equity investment securities, except for the FHLB securities described in “Note 8 — Borrowings, FHLB Stock and Subordinated Notes.” The amortized cost and estimated fair value of our AFS securities and the corresponding amounts of gross unrealized gains and losses at the dates indicated were as follows (in thousands): AmortizedCostGrossUnrealizedGainsGrossUnrealizedLossesEstimatedFair ValueMarch 31, 2025    Municipal bonds$6,344 $10 $(1,013)$5,341 Agency mortgage-backed securities2,688 10 (350)2,348 Total$9,032 $20 $(1,363)$7,689 December 31, 2024Municipal bonds$6,354 $11 $(991)$5,374 Agency mortgage-backed securities2,758 7 (349)2,416 Total$9,112 $18 $(1,340)$7,790 The amortized cost and estimated fair value of our HTM securities and the corresponding amounts of gross unrealized gains and losses at the dates indicated were as follows (in thousands): AmortizedCostGrossUnrealizedGainsGrossUnrealizedLossesEstimatedFair ValueMarch 31, 2025Municipal bonds$703 $— $(174)$