Company: SFBC
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001541119-25-000009
Chunk: 135

Company: Sound Financial Bancorp, Inc.
Filing Date: 2025-03-18
Form: 10-K
Item: Item 8
Chunk 135
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527 Earnings on BOLI625 1,179 Mortgage servicing income1,118 1,179 Fair value adjustment on MSRs(4)(219)Net gain on sale of loans258 340 Other income38 — Total noninterest income4,655 5,006 NONINTEREST EXPENSESalaries and benefits17,590 17,135 Operations5,894 6,095 Regulatory assessments787 688 Occupancy1,665 1,810 Data processing4,226 4,388 Net (gain) loss and expenses on OREO and repossessed assets(31)13 Total noninterest expense30,131 30,129 Income before provision for income taxes5,646 9,000 Provision for income taxes1,006 1,561 Net income$4,640 $7,439 Earnings per common share:Basic$1.81 $2.88 Diluted$1.80 $2.86 Weighted average number of common shares outstanding:Basic2,542,805 2,562,182 Diluted2,565,938 2,581,702 

See notes to consolidated financial statements

69

SOUND FINANCIAL BANCORP, INC. AND SUBSIDIARY

Consolidated Statements of Comprehensive Income

(In thousands)

Year Ended December 31,20242023Net income$4,640 $7,439 AFS securities:Unrealized (losses) gains arising during the year(71)163 Income tax benefit (expense) related to unrealized (losses) gains15 (34)Other comprehensive (loss) income, net of tax(56)129 Comprehensive income$4,584 $7,568 

See notes to consolidated financial statements

70

SOUND FINANCIAL BANCORP, INC. AND SUBSIDIARY

Consolidated Statements of Stockholders' Equity

(In thousands, except share and per share amounts) SharesCommon StockAdditionalPaid-in CapitalRetainedEarningsAccumulated Other Comprehensive(Loss) Income, net of taxTotalStockholders' EquityBalance at December 31, 20232,549,427 $25 $27,990 $73,627 $(988)$100,654 Net income4,640 4,640 Other comprehensive loss