Company: SFBC
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001541119-25-000023
Chunk: 35

Company: Sound Financial Bancorp, Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 1
Chunk 35
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 basis and update them as necessary based on changing conditions.   See “Note 1—Organization and Significant Accounting Policies” in the Company’s 2024 Form 10-K for further information on the Company’s ACL accounting policy.  The following tables summarize the activity in the ACL - loans for the periods indicated (in thousands): Three Months Ended March 31, 2025 BeginningAllowanceCharge-offsRecoveriesProvision for (Release of) Credit LossesEndingAllowanceOne-to-four family$3,025 $— $— $303 $3,328 Home equity307 — — 55 362 Commercial and multifamily1,218 — — (37)1,181 Construction and land992 — — (713)279 Manufactured homes(1)1,172 (19)— 150 1,303 Floating homes1,282 — — 127 1,409 Other consumer(2)401 (8)6 49 448 Commercial business102 — — (19)83 Total$8,499 $(27)$6 $(85)$8,393 (1)During the three months ended March 31, 2025, there was one manufactured home loan originated in 2022 that was charged off and then subsequently foreclosed upon. (2)During the three months ended March 31, 2025, the gross charge-offs of other consumer loans related entirely to deposit overdrafts that were charged off.  Three Months Ended March 31, 2024 BeginningAllowanceCharge-offsRecoveriesProvision for (Release of) Credit LossesEndingAllowanceOne-to-four family$2,630 $— $— $280 $2,910 Home equity185 — — (6)179 Commercial and multifamily1,070 — — 36 1,106 Construction and land1,349 — — (20)1,329 Manufactured homes(1)971 (23)— (115)833 Floating homes2,022 — — (223)1,799 Other consumer(2)426 (39)6 (60)333 Commercial business107 — — 2 109 Total$8,760 $(62)$6 $(106)$8,598 (1)