Company: SFBC
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001541119-25-000034
Chunk: 33

Company: Sound Financial Bancorp, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Item 1
Chunk 33
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Item 1.   Financial Statements

SOUND FINANCIAL BANCORP, INC. AND SUBSIDIARY

Condensed Consolidated Balance Sheets (unaudited)

(In thousands, except share and per share amounts)

 June 30,2025December 31,2024ASSETS  Cash and cash equivalents$102,542 $43,641 Available-for-sale (“AFS”) securities, at fair value (amortized cost of $8,949 and $9,112 as of June 30, 2025 and December 31, 2024, respectively)7,521 7,790 Held-to-maturity (“HTM”) securities, at amortized cost (fair value of $1,687 and $1,712 at June 30, 2025 and December 31, 2024, respectively)2,113 2,130 Loans held-for-sale2,025 487 Loans held-for-portfolio904,286 900,171 Allowance for credit losses (“ACL”) on loans(8,536)(8,499)Total loans held-for-portfolio, net895,750 891,672 Accrued interest receivable3,658 3,471 Bank-owned life insurance (“BOLI”), net22,913 22,490 Other real estate owned (“OREO”) and repossessed assets, net300 — Mortgage servicing rights (“MSRs”), at fair value4,638 4,769 Federal Home Loan Bank ("FHLB") stock, at cost1,734 1,730 Premises and equipment, net4,498 4,697 Right of use assets3,933 3,725 Other assets6,617 7,031 Total assets$1,058,242 $993,633 LIABILITIESDepositsInterest-bearing$775,262 $705,267 Noninterest-bearing demand124,197 132,532 Total deposits899,459 837,799 Borrowings25,000 25,000 Accrued interest payable634 765 Lease liabilities4,213 4,013 Other liabilities10,238 9,371 Advance payments from borrowers for taxes and insurance914 1,260 Subordinated notes, net11,780 11,759 Total liabilities952,238 889,967 COMMITMENTS AND