Company: SFBC
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001541119-25-000034
Chunk: 14

Company: Sound Financial Bancorp, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Item 2
Chunk 14
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 deposits. The cost of total funding is calculated as annualized total interest expense divided by total funding.

Rate/Volume Analysis

The following table presents, for the periods indicated, the dollar amount of changes in interest income and interest expense for major components of interest-earning assets and interest-bearing liabilities. It distinguishes between changes related to outstanding balances and changes due to interest rates. For each category of interest-earning assets and interest-bearing liabilities, information is provided on changes attributable to (i) changes in volume (i.e., changes in volume multiplied by old rate) and (ii) changes in rate (i.e., changes in rate multiplied by old volume). For purposes of this table, changes attributable to both rate and volume, which cannot be segregated, have been allocated proportionately to the change due to volume and the change due to rate (dollars in thousands). 

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 Three Months Ended June 30, 2025 vs. 2024Six Months Ended June 30, 2025 vs. 2024 Increase (Decrease) due toTotalIncrease (Decrease)Increase (Decrease) due toTotalIncrease (Decrease) VolumeRateVolumeRateInterest-earning assets:   Loans receivable$49 $1,326 $1,375 $67 $1,663 $1,730 Investments(10)— (10)(22)10 (12)Cash and cash equivalents(195)(294)(489)(314)(581)(895)Total interest-earning assets(156)1,032 876 (269)1,092 823 Interest-bearing liabilities:Savings and Money Market accounts294 (151)143 609 (273)336 Demand and NOW accounts(12)(29)(41)(26)(49)(75)Certificate accounts(290)(581)(871)(559)(968)(1,527)Subordinated notes1 (1)— 1 (1)— Borrowings(160)(2)(162)(317)(13)(330)Total interest-bearing liabilities$(167)$(764)$(931)$(292)$(1,304)$(1,596)Change in net interest income$1,807 $2,419 

Comparison of Results of Operation for the Three and Six Months Ended June 30, 2025 and 2024

General.  

Q2 2025 vs Q2 2024. Net income increased $1.3 million,