Company: SFBC
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001541119-25-000009
Chunk: 179

Company: Sound Financial Bancorp, Inc.
Filing Date: 2025-03-18
Form: 10-K
Item: Item 8
Chunk 179
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20261,007 20271,009 2028881 2029341 Total lease payments4,262 Less: Present value discount249 Present value of lease liabilities$4,013 Lease term and discount rate by lease type at December 31, 2024 and 2023 consisted of the following:December 31,20242023Weighted-average remaining lease term:Office leases4.3 years5.2 yearsWeighted-average discount rate:Office leases2.88 %2.77 %

99

Supplemental cash flow information related to leases for the years ended December 31, 2024 and 2023 was as follows (in thousands):Year Ended December 31,20242023Cash paid for amounts included in the measurement of lease liabilities for operating leases:Operating cash flowsOffice leases$1,120 $1,092 

Note 13—Earnings Per Share

Earnings per share are summarized for the years ended December 31, 2024 and 2023 as follows (in thousands, except per share data): Year Ended December 31, 20242023Net income$4,640 $7,439 LESS:  Participating dividends - Unvested RSAs(13)(12)LESS: Income allocated to participating securities - Unvested RSAs(18)(35)Net income available to common stockholders - basic4,609 7,392 ADD BACK: Income allocated to participating securities - Unvested RSAs18 35 LESS: Income reallocated to participating securities - Unvested RSAs(18)(35)Net income available to common stockholders - diluted$4,609 $7,392 Weighted average number of shares outstanding, basic2,542,805 2,562,182 Effect of potentially dilutive common shares23,133 19,520 Weighted average number of shares outstanding, diluted2,565,938 2,581,702 Earnings per share, basic$1.81 $2.88 Earnings per share, diluted$1.80 $2.86 There were no anti-dilutive securities for the year ended December 31, 2024 and 7,892 anti-dilutive securities for the year ended December 31, 2023.

Note 14—Employee Benefits

The Company has a 401(k) retirement plan that allows employees to defer a portion of their salary