Company: SFBC
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001541119-25-000041
Chunk: 43

Company: Sound Financial Bancorp, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 1
Chunk 43
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2025 , there were no securities in an unrealized loss position for less than 12 months and 16 securities in an unrealized loss position for more than 12 months. At December 31, 2024 there was one security in an unrealized loss position for less than 12 months and 15 securities in an unrealized loss position for more than 12 months. The unrealized losses were caused by changes in market interest rates or the widening of market spreads subsequent to the initial purchase of these securities and not related to the underlying credit of the issuers or the underlying collateral. It is expected that these securities will not be settled at a price less than the amortized cost of each investment. There was no provision for credit losses recognized for investment securities during the three and nine months ended September 30, 2025 and 2024, because the declines in fair value were not attributable to credit quality and because we do not intend, and it is not likely that we will be required, to sell these securities before recovery of their amortized cost basis. 

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Note 4 – Loans

Loans-held-for portfolio (which excludes loans held-for-sale) at the dates indicated were as follows (in thousands): September 30,2025December 31,2024Real estate loans:  One-to-four family$257,797 $269,684 Home equity29,903 26,686 Commercial and multifamily408,802 371,516 Construction and land52,797 73,077 Total real estate loans749,299 740,963 Consumer loans:Manufactured homes42,735 41,128 Floating homes88,674 86,411 Other consumer17,031 17,720 Total consumer loans148,440 145,259 Commercial business loans14,214 15,605 Total loans held-for-portfolio911,953 901,827 Premiums for purchased loans(1)644 718 Deferred fees, net(2,882)(2,374)Total loans held-for-portfolio, gross909,715 900,171 Allowance for credit losses — loans(8,564)(8,499)Total loans held-for-portfolio, net$901,151 $891,672 (1)Includes premiums resulting from purchased loans of $373 thousand related to one-to-four family loans, $220 thousand related to commercial and multifamily loans, and $51 thousand related to