Company: SFBC
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001541119-25-000041
Chunk: 97

Company: Sound Financial Bancorp, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 8
Chunk 97
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 and $1.3 million at September 30, 2025 and December 31, 2024, respectively.

Collateral Dependent Loans. Loans that have been classified as collateral dependent are loans where substantially all repayment of the loan is expected to come from the operation of or eventual liquidation of the collateral. Collateral dependent loans are evaluated individually for purposes of determining the ACL, which is determined based on the estimated fair value of the collateral. Estimates for costs to sell are included in the determination of the ACL when liquidation of the collateral is anticipated. In cases where the loan is well secured and the estimated fair value of the collateral exceeds the amortized cost of the loan, no ACL is recorded.

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The following tables summarize collateral dependent loans by collateral type as of the dates indicated (in thousands):September 30, 2025Commercial Real EstateResidential Real EstateLandOther ResidentialRVs/AutomobilesBusiness Assets TotalReal estate loans:One- to four- family$— $423 $— $321 $— $— $744 Home equity— 201 — — — — 201 Commercial and multifamily— — — — — 1,065 1,065 Construction and land— — 20 83 — — 103 Total real estate loans— 624 20 404 — 1,065 2,114 Consumer loans:Manufactured homes— — — 476 — — 476 Other consumer— — — 256 6 — 262 Total consumer loans— — — 732 6 — 738 Commercial business loans— — — — — — — Total loans$— $624 $20 $1,136 $6 $1,065 $2,852 December 31, 2024Commercial Real EstateResidential Real EstateLandOther ResidentialRVs/AutomobilesBusiness AssetsTotalReal estate loans:One- to four- family$— $311 $— $364 $— $— $675 Home equity— 298 — — — — 298 Commercial and multifamily3,734 — — — — — 3,734 Construction and land— — 24 — — — 24 Total real estate