Company: SFBC
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001541119-25-000041
Chunk: 64

Company: Sound Financial Bancorp, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 1
Chunk 64
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 “Note 11—Subsequent Events” for further detail. 

Note 9 – Earnings Per Common Share

The following table summarizes the calculation of earnings per share for the periods indicated (in thousands, except per share data): Three Months EndedNine Months Ended 2025202420252024Net income$1,695 $1,154 $4,914 $2,719 LESS:  Participating dividends - Unvested Restricted Stock Awards (“RSAs”)(2)(3)(5)(10)LESS: Income allocated to participating securities - Unvested RSAs(4)(4)(14)(8)Net income available to common stockholders - basic1,689 1,146 4,895 2,701 ADD BACK: Income allocated to participating securities - Unvested RSAs4 4 14 8 LESS: Income reallocated to participating securities - Unvested RSAs(4)(4)(14)(8)Net income available to common stockholders - diluted$1,689 $1,146 $4,895 $2,701 Weighted average number of shares outstanding, basic2,556,562 2,544,233 2,555,799 2,541,331 Effect of potentially dilutive common shares19,013 25,135 21,588 20,611 Weighted average number of shares outstanding, diluted2,575,575 2,569,368 2,577,387 2,561,942 Earnings per share, basic$0.66 $0.45 $1.92 $1.06 Earnings per share, diluted$0.66 $0.45 $1.90 $1.05 There were no anti-dilutive securities during the three and nine months ended September 30, 2025 and September 30, 2024.

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Note 10 – Leases

We currently have operating leases for branch locations, a loan production office and our corporate office. The term for our leases generally begins on the date we become legally obligated for the rent payments or we take possession of the building premises, whichever is earlier. Our real estate leases have initial terms ranging from one to 10.5 years and typically include one renewal option. As of September 30, 2025, our leases had remaining terms ranging from 5 months to 4.7 years. The operating