Company: SFBC
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001541119-25-000009
Chunk: 136

Company: Sound Financial Bancorp, Inc.
Filing Date: 2025-03-18
Form: 10-K
Item: Item 8
Chunk 136
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, net of tax benefit(56)(56)Share-based compensation390 390 Restricted stock awards issued8,048 — Cash dividends on common stock ($0.76 per share)(1,948)(1,948)Common stock repurchased(1,626) (18)(47) (65)Common stock surrendered(5,053)(218) (218)Common stock options exercised14,111  269 269 Balance at December 31, 20242,564,907 $25 $28,413 $76,272 $(1,044)$103,666 

 SharesCommon StockAdditionalPaid-in CapitalRetainedEarningsAccumulated Other ComprehensiveIncome (Loss), net of taxTotalStockholders' EquityBalance at December 31, 20222,583,619 $26 $28,004 $70,792 $(1,117)$97,705 Impact of adoption of ASU No. 2016-13(1,149)(1,149)Net income7,439 7,439 Other comprehensive income, net of tax129 129 Share-based compensation450 450 Restricted stock awards issued8,850 Cash dividends on common stock ($0.74 per share)(1,913)(1,913)Common stock repurchased(58,035)(1)(594)(1,542)(2,137)Common stock surrendered(6,799)(265)(265)Restricted shares forfeited(755)Common stock options exercised22,547 395 395 Balance at December 31, 20232,549,427 $25 $27,990 $73,627 $(988)$100,654 See notes to consolidated financial statements

71

SOUND FINANCIAL BANCORP, INC. AND SUBSIDIARY

Consolidated Statements of Cash Flows

(In thousands)

 Year Ended December 31, 20242023CASH FLOWS FROM OPERATING ACTIVITIES:Net income$4,640 $7,439 Adjustments to reconcile net income to net cash from operating activities:Amortization of net discounts on investments84 81 (Reversal of) provision for credit losses(120)(273)Depreciation and amortization619 717 Compensation expense related to share based compensation390 450 Fair value adjustment on MSRs4 219 Right of use assets amortization960