Company: SFBC
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001541119-25-000009
Chunk: 5

Company: Sound Financial Bancorp, Inc.
Filing Date: 2025-03-18
Form: 10-K
Item: Item 1
Chunk 5
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 6% increase from December 2023's median home sales price of $525 thousand.

Snohomish County has approximately 849 thousand residents and a median household income of approximately $106 thousand. Based on information from the MLS, the median home sales price in Snohomish County at December 2024 was $750 thousand, a 7% increase from December 2023's median home sales price of $700 thousand.

Clallam County, with a population of approximately 79 thousand, has a median household income of approximately $67 thousand. The economy of Clallam County is primarily medical, retail and construction. The Sequim Dungeness Valley continues to be a growing retirement location. Based on information from the MLS, the median home sales price in Clallam County in December 2024 was $500 thousand, a 10% increase from December 2023's median home sales price of $455 thousand.

Jefferson County, with a population of approximately 34 thousand, has a median household income of approximately $78 thousand. Based on information from the MLS, the average home sales price in Jefferson County in December 2024 was $640 thousand, a 2% increase from December 2023's median home sales price of $625 thousand.

6

Lending Activities

The following table presents information concerning the composition of our loan portfolio, excluding loans held-for-sale, by the type of loan as of the dates indicated (dollars in thousands):

December 31,20242023AmountPercentAmountPercentReal estate loans:One-to-four family$269,684 29.8 %$279,448 31.2 %Home equity26,686 3.0 23,073 2.6 Commercial and multifamily371,516 41.2 315,280 35.2 Construction and land73,077 8.1 126,758 14.1 Total real estate loans740,963 82.1 744,559 83.1 Consumer loans:Manufactured homes41,128 4.6 36,193 4.0 Floating homes86,411 9.6 75,108 8.4 Other consumer17,720 2.0 19,612 2.2 Total consumer loans145,259 16.2 130