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Sound Financial Bancorp, Inc. Q1 2025 Results

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Sound Financial Bancorp reported Q1 2025 net income of $1.2 million ($0.45 per diluted share), compared to $1.9 million in Q4 2024 and $770,000 in Q1 2024. The company declared a $0.19 per share cash dividend, payable May 23, 2025.

Key financial highlights:

  • Total assets increased 7.6% to $1.07 billion
  • Net interest margin improved to 3.25%
  • Total deposits grew 8.7% to $910.3 million
  • Loans-to-deposits ratio at 98%

The bank released $203,000 in credit loss provisions and maintained "well-capitalized" status. While nonperforming loans increased by 28.9% to $9.7 million, management noted that 83% of these are concentrated in just four well-secured loans. The bank focused on lowering deposit costs and originating higher-rate loans, resulting in improved net interest margin despite ongoing economic uncertainty.

Sound Financial Bancorp ha riportato un utile netto di 1,2 milioni di dollari nel primo trimestre del 2025 (0,45 dollari per azione diluita), rispetto a 1,9 milioni nel quarto trimestre del 2024 e 770.000 dollari nel primo trimestre del 2024. La società ha dichiarato un dividendo in contanti di 0,19 dollari per azione, pagabile il 23 maggio 2025.

Punti finanziari chiave:

  • Gli attivi totali sono aumentati del 7,6%, raggiungendo 1,07 miliardi di dollari
  • Il margine di interesse netto è migliorato al 3,25%
  • I depositi totali sono cresciuti dell'8,7%, arrivando a 910,3 milioni di dollari
  • Il rapporto prestiti/depositi è al 98%

La banca ha liberato 203.000 dollari dalle riserve per perdite su crediti e ha mantenuto lo status di "ben capitalizzata". Sebbene i prestiti in sofferenza siano aumentati del 28,9% raggiungendo 9,7 milioni di dollari, la direzione ha sottolineato che l'83% di questi è concentrato in soli quattro prestiti ben garantiti. La banca si è concentrata sulla riduzione dei costi dei depositi e sull'erogazione di prestiti a tassi più elevati, ottenendo un miglioramento del margine di interesse netto nonostante l'incertezza economica in corso.

Sound Financial Bancorp reportó un ingreso neto de 1,2 millones de dólares en el primer trimestre de 2025 (0,45 dólares por acción diluida), en comparación con 1,9 millones en el cuarto trimestre de 2024 y 770,000 en el primer trimestre de 2024. La compañía declaró un dividendo en efectivo de 0,19 dólares por acción, pagadero el 23 de mayo de 2025.

Puntos financieros clave:

  • Los activos totales aumentaron un 7,6% hasta 1,07 mil millones de dólares
  • El margen neto de interés mejoró a 3,25%
  • Los depósitos totales crecieron un 8,7% hasta 910,3 millones de dólares
  • La relación préstamos-depósitos es del 98%

El banco liberó 203,000 dólares de provisiones para pérdidas crediticias y mantuvo su estatus de "bien capitalizado". Aunque los préstamos morosos aumentaron un 28,9% hasta 9,7 millones de dólares, la dirección señaló que el 83% de estos están concentrados en solo cuatro préstamos bien garantizados. El banco se enfocó en reducir los costos de los depósitos y originar préstamos con tasas más altas, lo que resultó en una mejora del margen neto de interés a pesar de la incertidumbre económica continua.

Sound Financial Bancorp는 2025년 1분기 순이익이 120만 달러(희석 주당 0.45달러)를 기록했다고 발표했으며, 이는 2024년 4분기의 190만 달러와 2024년 1분기의 77만 달러와 비교됩니다. 회사는 주당 0.19달러의 현금 배당을 선언했으며, 지급일은 2025년 5월 23일입니다.

주요 재무 하이라이트:

  • 총 자산이 7.6% 증가하여 10억 7천만 달러에 도달
  • 순이자마진이 3.25%로 개선됨
  • 총 예금이 8.7% 증가하여 9억 1,030만 달러
  • 대출 대비 예금 비율 98%

은행은 20만 3천 달러의 대손충당금을 해제하고 "충분한 자본 상태"를 유지했습니다. 부실 대출은 28.9% 증가하여 970만 달러에 이르렀으나, 경영진은 이 중 83%가 단 4건의 담보가 확실한 대출에 집중되어 있다고 언급했습니다. 은행은 예금 비용을 낮추고 고금리 대출을 취급하는 데 주력하여 지속되는 경제 불확실성에도 불구하고 순이자마진이 개선되었습니다.

Sound Financial Bancorp a annoncé un bénéfice net de 1,2 million de dollars au premier trimestre 2025 (0,45 dollar par action diluée), contre 1,9 million au quatrième trimestre 2024 et 770 000 dollars au premier trimestre 2024. La société a déclaré un dividende en espèces de 0,19 dollar par action, payable le 23 mai 2025.

Points financiers clés :

  • Les actifs totaux ont augmenté de 7,6 % pour atteindre 1,07 milliard de dollars
  • La marge nette d’intérêt s’est améliorée à 3,25 %
  • Les dépôts totaux ont augmenté de 8,7 % pour atteindre 910,3 millions de dollars
  • Le ratio prêts/dépôts est de 98 %

La banque a libéré 203 000 dollars de provisions pour pertes sur crédits et a maintenu son statut de « bien capitalisée ». Bien que les prêts non performants aient augmenté de 28,9 % pour atteindre 9,7 millions de dollars, la direction a noté que 83 % de ces prêts sont concentrés dans seulement quatre prêts bien garantis. La banque s’est concentrée sur la réduction des coûts des dépôts et l’octroi de prêts à taux plus élevés, ce qui a permis d’améliorer la marge nette d’intérêt malgré l’incertitude économique persistante.

Sound Financial Bancorp meldete für das erste Quartal 2025 einen Nettogewinn von 1,2 Millionen US-Dollar (0,45 US-Dollar je verwässerter Aktie), im Vergleich zu 1,9 Millionen im vierten Quartal 2024 und 770.000 im ersten Quartal 2024. Das Unternehmen erklärte eine Bardividende von 0,19 US-Dollar je Aktie, zahlbar am 23. Mai 2025.

Wichtige finanzielle Höhepunkte:

  • Gesamtvermögen stiegen um 7,6 % auf 1,07 Milliarden US-Dollar
  • Nettozinsmarge verbesserte sich auf 3,25 %
  • Gesamteinlagen wuchsen um 8,7 % auf 910,3 Millionen US-Dollar
  • Loans-to-Deposits-Verhältnis bei 98 %

Die Bank setzte 203.000 US-Dollar an Kreditverlustrückstellungen frei und behielt den Status "gut kapitalisiert" bei. Obwohl notleidende Kredite um 28,9 % auf 9,7 Millionen US-Dollar zunahmen, stellte das Management fest, dass 83 % davon auf nur vier gut besicherte Kredite konzentriert sind. Die Bank konzentrierte sich darauf, die Kosten für Einlagen zu senken und Kredite mit höheren Zinssätzen zu vergeben, was trotz anhaltender wirtschaftlicher Unsicherheit zu einer verbesserten Nettozinsmarge führte.

Positive
  • Net interest margin improved 12 basis points to 3.25% vs previous quarter
  • Net income increased 55.8% to $1.2M vs Q1 2024 ($0.45 EPS vs $0.30)
  • Net interest income grew 8.2% YoY to $8.1M
  • $203K release of provision for credit losses indicating improved credit outlook
  • Successfully exited a $17M special mention loan, reducing risk exposure
Negative
  • Net income decreased 36.8% QoQ from $1.9M to $1.2M ($0.45 EPS vs $0.74)
  • Nonperforming loans increased 28.9% to $9.7M vs previous quarter
  • Total assets decreased 1.6% YoY to $1.07B
  • Loans held-for-portfolio decreased 1.5% QoQ to $886.2M
  • Noninterest expense increased 12.1% QoQ to $7.9M
  • Noninterest-bearing deposits decreased 4.4% QoQ to $126.7M

SEATTLE, April 29, 2025 (GLOBE NEWSWIRE) -- Sound Financial Bancorp, Inc. (the "Company") (Nasdaq: SFBC), the holding company for Sound Community Bank (the "Bank"), today reported net income of $1.2 million for the quarter ended March 31, 2025, or $0.45 diluted earnings per share, as compared to net income of $1.9 million, or $0.74 diluted earnings per share, for the quarter ended December 31, 2024, and $770 thousand, or $0.30 diluted earnings per share, for the quarter ended March 31, 2024. The Company also announced today that its Board of Directors declared a cash dividend on the Company's common stock of $0.19 per share, payable on May 23, 2025 to stockholders of record as of the close of business on May 9, 2025.

Comments from the President / Chief Executive Officer and Chief Financial Officer

“Despite ongoing economic uncertainty, we remained focused on lowering our cost of deposits and originating new loans at higher rates, which contributed to a 12-basis point improvement in our net interest margin compared to the prior quarter. This reflects the team's strong efforts to build full banking relationships by addressing both the lending and deposit needs of our consumer and business clients,” remarked Laurie Stewart, President and Chief Executive Officer.

"We continue to prioritize expense management, even though expenses increased compared to the previous quarter. The quarter-over-quarter increase was largely due to typical year-end accrual adjustments and annual expenses that are recognized in the first quarter. However, when compared to the first quarter of 2024, we have seen reductions in combined salaries and benefits, and operational expenses, thanks to our investments in technology. We also expect the year-over-year growth in data processing costs to moderate as the year progresses," explained Wes Ochs, Executive Vice President and Chief Financial Officer.

Mr. Ochs continued, "While we did see an increase in nonperforming loans this quarter mainly due to two specific credits, one of which has since been repaid, we have not observed broader signs of stress in the loan portfolio. Importantly, we also successfully exited a $17 million loan that had been rated as special mention, which contributed to the decline in overall loan balances. Notably, 83% of our nonperforming loans are tied to just four loans, each with its own unique circumstances. These loans are well-secured, and we are actively working toward resolutions in the near-term."

 

Q1 2025 Financial Performance
Total assets increased $75.6 million or 7.6% to $1.07 billion at March 31, 2025, from $993.6 million at December 31, 2024, and decreased $17.5 million or 1.6% from $1.09 billion at March 31, 2024.
  Net interest income decreased $149 thousand or 1.8% to $8.1 million for the quarter ended March 31, 2025, from $8.2 million for the quarter ended December 31, 2024, and increased $611 thousand or 8.2% from $7.5 million for the quarter ended March 31, 2024.
    
Loans held-for-portfolio decreased $13.9 million or 1.5% to $886.2 million at March 31, 2025, compared to $900.2 million at December 31, 2024, and decreased $11.7 million or 1.3% from $897.9 million at March 31, 2024.
   Net interest margin ("NIM"), annualized, was 3.25% for the quarter ended March 31, 2025, compared to 3.13% for the quarter ended December 31, 2024 and 2.95% for the quarter ended March 31, 2024.
    
Total deposits increased $72.5 million or 8.7% to $910.3 million at March 31, 2025, from $837.8 million at December 31, 2024, and decreased $6.5 million or 0.7% from $916.9 million at March 31, 2024. Noninterest-bearing deposits decreased $5.8 million or 4.4% to $126.7 million at March 31, 2025 compared to $132.5 million at December 31, 2024, and decreased $2.0 million or 1.5% compared to $128.7 million at March 31, 2024.
   A $203 thousand release of provision for credit losses was recorded for the quarter ended March 31, 2025, compared to a $14 thousand provision and a $33 thousand release of provision for credit losses for the quarters ended December 31, 2024 and March 31, 2024, respectively. At March 31, 2025, the allowance for credit losses on loans to total loans outstanding was 0.95%, compared to 0.94% at December 31, 2024 and 0.96% at March 31, 2024.
    
The loans-to-deposits ratio was 98% at March 31, 2025, compared to 108% at December 31, 2024 and 98% at March 31, 2024.
   Total noninterest income decreased $62 thousand or 5.3% to $1.1 million for the quarter ended March 31, 2025, compared to the quarter ended December 31, 2024, and was virtually unchanged compared to the quarter ended March 31, 2024.
    
Total nonperforming loans increased $2.2 million or 28.9% to $9.7 million at March 31, 2025, from $7.5 million at December 31, 2024, and increased $600 thousand or 6.6% from $9.1 million at March 31, 2024. Nonperforming loans to total loans was 1.09% and the allowance for credit losses on loans to total nonperforming loans was 86.95% at March 31, 2025.
   Total noninterest expense increased $856 thousand or 12.1% to $7.9 million for the quarter ended March 31, 2025, compared to the quarter ended December 31, 2024, and increased $258 thousand or 3.4% compared to the quarter ended March 31, 2024.
    
    The Bank continued to maintain capital levels in excess of regulatory requirements and was categorized as "well-capitalized" at March 31, 2025.

Operating Results

Net Interest Income after (Release of) Provision for Credit Losses

  For the Quarter Ended Q1 2025 vs. Q4 2024 Q1 2025 vs. Q1 2024
  March 31,
2025		 December 31,
2024		 March 31,
2024		 Amount
($)		 Percentage (%) Amount
($)		 Percentage (%)
  (Dollars in thousands, unaudited)
Interest income $13,706  $14,736 $13,760  $(1,030) (7.0)% $(54) (0.4)%
Interest expense  5,635   6,516  6,300   (881) (13.5)%  (665) (10.6)%
Net interest income  8,071   8,220  7,460   (149) (1.8)%  611  8.2%
(Release of) provision for credit losses  (203)  14  (33)  (217) (1550.0)%  (170) 515.2%
Net interest income after (release of) provision for credit losses  8,274   8,206  7,493   68  0.8%  781  10.4%
                          

Q1 2025 vs Q4 2024

The decrease in interest income from the prior quarter was primarily due to a lower average balance of loans, investments and interest-earning cash, an eight basis point decline in the average yield on loans, a 41 basis point decline in the average yield on interest-bearing cash, and a 57 basis point decline in the average yield on investments.

Interest income on loans decreased $482 thousand, or 3.7%, to $12.6 million for the quarter ended March 31, 2025, compared to $13.1 million for the quarter ended December 31, 2024. The average balance of total loans was $896.8 million for the quarter ended March 31, 2025, down from $900.8 million for the quarter ended December 31, 2024. The decrease in the average balance of total loans was primarily due to declines in construction and land loans and one-to-four family loans, offset by growth in commercial and multifamily loans and home equity loans. The average balances for manufactured home loans, floating home loans, commercial business loans, and other consumer loans remained relatively flat from the fourth quarter of 2024. The average yield on total loans was 5.69% for the quarter ended March 31, 2025, down from 5.77% for the quarter ended December 31, 2024. The decline was primarily due to interest that was reversed on nonaccrual loans during the first quarter, as well as interest that had been recognized on those loans in the fourth quarter. This was partly offset by new loans being made at higher interest rates and some variable-rate loans adjusting upward. Interest income on investments was $108 thousand for the quarter ended March 31, 2025, compared to $132 thousand for the quarter ended December 31, 2024. Interest income on interest-bearing cash decreased $524 thousand to $1.0 million for the quarter ended March 31, 2025, compared to $1.5 million for the quarter ended December 31, 2024. This decrease was a result of both lower average yields and average balances during the quarter.

The decrease in interest expense during the current quarter from the prior quarter was primarily the result of lower average balances and rates paid on all categories of interest-bearing deposits. The average cost of deposits was 2.37% for the quarter ended March 31, 2025, down from 2.58% for the quarter ended December 31, 2024 as higher costing deposits repriced lower due to market interest rate cuts beginning in September 2024. The average cost of FHLB advances was 4.25% for the quarter ended March 31, 2025, down from 4.31% for the quarter ended December 31, 2024.

A release of provision for credit losses of $203 thousand was recorded for the quarter ended March 31, 2025, consisting of a release of provision for credit losses on loans of $85 thousand and a release of provision for credit losses on unfunded loan commitments of $118 thousand. This compared to a provision for credit losses of $14 thousand for the quarter ended December 31, 2024, consisting of a release of provision for credit losses on loans of $73 thousand and a provision for credit losses on unfunded loan commitments of $87 thousand. The decrease in the provision for credit losses for the quarter ended March 31, 2025 compared to the quarter ended December 31, 2024 resulted primarily from a smaller loan portfolio and a reduced balance of unfunded commitments, partially offset by an additional qualitative adjustment applied to certain loan segments, specifically consumer and construction loans, reflecting increased uncertainty in market conditions tied to the impact of tariffs and other external factors affecting our clients. Expected credit loss estimates consider various factors, including market conditions, borrower-specific information, projected delinquencies, and anticipated effects of economic trends on borrowers' ability to repay.

Q1 2025 vs Q1 2024

Interest income on loans increased $355 thousand, or 2.9%, to $12.6 million for the quarter ended March 31, 2025, compared to $12.2 million for the quarter ended March 31, 2024. The average balance of total loans was $896.8 million for the quarter ended March 31, 2025, up from $895.4 million for the quarter ended March 31, 2024. The average yield on total loans was 5.69% for the quarter ended March 31, 2025, up from 5.49% for the quarter ended March 31, 2024. The increase in the average loan yield during the current quarter, compared to the same quarter in 2024, was primarily due to the origination of new loans at higher interest rates. Additionally, variable-rate loans resetting to higher rates contributed to the increase in average yield compared to the first quarter of 2024. Interest income on investments was $108 thousand for the quarter ended March 31, 2025, compared to $111 thousand for the quarter ended March 31, 2024. Interest income on interest-bearing cash decreased $406 thousand to $1.0 million for the quarter ended March 31, 2025, compared to $1.4 million for the quarter ended March 31, 2024. The decrease was a result of both a lower average yield and average balance.

The decrease in interest expense during the current quarter from the same quarter a year ago was primarily the result of a $18.9 million decrease in the average balance of interest-bearing demand and NOW accounts, a $25.5 million decrease in the average balance of certificate accounts, and a $15.0 million decrease in the average balance of FHLB advances, as well as lower average rates paid on all categories of interest-bearing deposits; resulting from lower market interest rates generally. These average-balance decreases were partially offset by a $51.0 million increase in the average balance of savings and money market accounts. The average cost of deposits was 2.37% for the quarter ended March 31, 2025, down from 2.57% for the quarter ended March 31, 2024. The average cost of FHLB advances was 4.25% for the quarter ended March 31, 2025, down from 4.31% for the quarter ended March 31, 2024.

A release of provision for credit losses of $203 thousand was recorded for the quarter ended March 31, 2025, consisting of a release of provision for credit losses on loans of $85 thousand and a release of provision for credit losses on unfunded loan commitments of $118 thousand. This compared to a release of provision for credit losses of $33 thousand for the quarter ended March 31, 2024, consisting of a release of provision for credit losses on loans of $106 thousand and a provision for credit losses on unfunded loan commitments of $73 thousand. The larger release recorded in the current quarter primarily reflected the factors discussed above.

Noninterest Income

  For the Quarter Ended Q1 2025 vs. Q4 2024 Q1 2025 vs. Q1 2024
  March 31,
2025		 December 31,
2024		 March 31,
2024		 Amount
($)		 Percentage (%) Amount
($)		 Percentage (%)
  (Dollars in thousands, unaudited)
Service charges and fee income $684  $619 $612  $65  10.5% $72  11.8%
Earnings on bank-owned life insurance (“BOLI”)  195   127  177   68  53.5%  18  10.2%
Mortgage servicing income  269   277  282   (8) (2.9)%  (13) (4.6)%
Fair value adjustment on mortgage servicing rights  (99)  77  (65)  (176) (228.6)%  (34) 52.3%
Net gain on sale of loans  49   53  90   (4) (7.5)%  (41) (45.6)%
Other income  —   7  —   (7) (100.0)%  —  100.0%
Total noninterest income $1,098  $1,160 $1,096  $(62) (5.3)% $2  0.2%
 

Q1 2025 vs Q4 2024

The decrease in noninterest income during the current quarter compared to the quarter ended December 31, 2024 was primarily related to

  • a $176 thousand downward adjustment in fair value of mortgage servicing rights due to a smaller servicing portfolio, partially offset by :
  • an increase of $68 thousand in earnings from BOLI primarily due to the strategic decision to surrender and exchange existing policies into higher yielding policies in the first quarter, offset by fluctuations in financial markets which decreased the values of policies; and
  • a $65 thousand increase in service charges and fee income due to a volume incentive paid by Mastercard in the first quarter of 2025 and higher interchange income.

Loans sold during the quarter ended March 31, 2025, totaled $2.0 million, compared to $3.5 million and $4.2 million of loans sold during the quarters ended December 31, 2024 and March 31, 2024, respectively.

Q1 2025 vs Q1 2024

The increase in noninterest income during the current quarter compared to the quarter ended March 31, 2024 was primarily due to

  • a $72 thousand increase in service charges and fee income primarily due to the reasons noted above, and
  • an $18 thousand increase in earnings from BOLI primarily due to the strategic decision to surrender and exchange existing policies into higher yielding policies in the first quarter, offset by fluctuations in financial markets, which reduced the values of policies. The increases in service charges and fee income and in earnings from BOLI were partially offset by
  • a $13 thousand decrease in mortgage servicing income as a result of the portfolio paying down at a faster rate than originations replace repayments;
  • a $34 thousand decrease in the fair value adjustment on mortgage servicing rights due to a smaller servicing portfolio; and
  • a $41 thousand decrease in net gain on sale of loans due to fewer loans sold.

Noninterest Expense

  For the Quarter Ended Q1 2025 vs. Q4 2024 Q1 2025 vs. Q1 2024
  March 31,
2025		 December 31,
2024		 March 31,
2024		 Amount
($)		 Percentage (%) Amount
($)		 Percentage (%)
  (Dollars in thousands, unaudited)
Salaries and benefits $4,595 $3,920  $4,543 $675 17.2% $52  1.1%
Operations  1,365  1,329   1,457  36 2.7%  (92) (6.3)%
Regulatory assessments  221  189   189  32 16.9%  32  16.9%
Occupancy  437  409   444  28 6.8%  (7) (1.6)%
Data processing  1,293  1,232   1,017  61 5.0%  276  27.1%
Net loss (gain) on OREO and repossessed assets  3  (21)  6  24 (114.3)%  (3) (50.0)%
Total noninterest expense $7,914 $7,058  $7,656 $856 12.1% $258  3.4%
 

Q1 2025 vs Q4 2024

The increase in noninterest expense during the current quarter from the quarter ended December 31, 2024 was primarily a result of:

  • a $675 thousand increase in salaries and benefits related to higher salaries expense, partially due to accrual reversals in the fourth quarter 2024, along with an annual deferred compensation contribution for key executives made in the first quarter of each year, higher 401(k) contributions, and higher payroll taxes related to annual bonus payments;
  • a $32 thousand increase in regulatory assessments due to a higher estimated accrual for exam costs;
  • a $28 thousand increase in occupancy due to higher annual property charges and maintenance fees recognized in the first quarter;
  • a $61 thousand increase in data processing due to higher vendor fees associated with annual subscription renewals; and
  • a $24 thousand increase in OREO and repossessed assets due to the addition of a new property in the first quarter of 2025 and the absence of property sales in the prior quarter.

Q1 2025 vs Q1 2024

The increase in noninterest expense during the current quarter from the quarter ended March 31, 2024 was primarily a result of:

  • a $276 thousand increase in data processing expenses due to various project implementations that began amortizing in the third quarter of 2024 and the reimbursement of expenses by a software vendor in the first quarter of 2024;
  • a $32 thousand increase in regulatory assessment expenses due to a higher estimated accrual for exam costs.

These increases were partially offset by a $92 thousand decrease in operations expense, primarily due to the recognition of annual fee reimbursements from Mastercard beginning in the first quarter of 2025 and lower expenses across various accounts resulting from ongoing cost saving initiatives and process improvements.

Balance Sheet Review, Capital Management and Credit Quality

Assets at March 31, 2025 totaled $1.07 billion, up from $993.6 million at December 31, 2024 and down from $1.09 billion at March 31, 2024. The increase in total assets from December 31, 2024 was primarily due to an increase in cash and cash equivalents, partially offset by a lower balance of loans held-for-portfolio. The decrease from one year ago was primarily a result of lower balances of cash and cash equivalents and loans held-for-portfolio.

Cash and cash equivalents increased $87.9 million, or 201.3%, to $131.5 million at March 31, 2025, compared to $43.6 million at December 31, 2024, and decreased $6.5 million, or 4.7%, from $138.0 million at March 31, 2024. The increased cash and cash equivalents from the prior quarter-end was primarily due to the strategic decision to sell reciprocal deposits at the end of 2024, which reduced our cash balances. These reciprocal deposits returned to our balance sheet in the first quarter of 2025.

Investment securities decreased $110 thousand, or 1.1%, to $9.8 million at March 31, 2025, compared to $9.9 million at December 31, 2024, and decreased $462 thousand, or 4.5%, from $10.3 million at March 31, 2024, as pay-offs and paydowns of investments exceeded new purchases. Held-to-maturity securities totaled $2.1 million at both March 31, 2025 and December 31, 2024, and totaled $2.2 million at March 31, 2024. Available-for-sale securities totaled $7.7 million at March 31, 2025, compared to $7.8 million at December 31, 2024 and $8.1 million at March 31, 2024.

Loans held-for-portfolio were $886.2 million at March 31, 2025, compared to $900.2 million at December 31, 2024 and $897.9 million at March 31, 2024. The decrease from both prior dates was primarily due to the payoff during the first quarter of 2025 of one $17.0 million loan that was risk rated special mention.

Nonperforming assets (“NPAs”), which are comprised of nonaccrual loans (including nonperforming modified loans), other real estate owned (“OREO”) and other repossessed assets, increased $2.2 million, or 29.4%, to $9.7 million at March 31, 2025, from $7.5 million at December 31, 2024 and decreased $49 thousand, or 0.5%, from $9.7 million at March 31, 2024. The increase in NPAs from December 31, 2024 was primarily due to the addition of six loans totaling $2.4 million to nonaccrual status, including two commercial real estate loans of $1.1 million and $988 thousand. The increase also included $41 thousand of other real estate owned properties. These additions were partially offset by $207 thousand in regular loan payments. Subsequent to quarter-end, the $988 thousand commercial real estate loan added during the quarter was paid-off. The decrease in NPAs from one year ago was primarily due to payoffs totaling $2.1 million, the return of $522 thousand of loans to accrual status, the sale of two other real estate owned properties for $690 thousand, and regular loan payments. These decreases were partially offset by the placement of an additional $3.6 million of loans on nonaccrual status, which included the two commercial real estate loans noted above.

NPAs to total assets were 0.91%, 0.75% and 0.90% at March 31, 2025, December 31, 2024 and March 31, 2024, respectively. The allowance for credit losses on loans to total loans outstanding was 0.95% at March 31, 2025, compared to 0.94% at December 31, 2024 and 0.96% at March 31, 2024. Net loan charge-offs for the first quarter of 2025 totaled $21 thousand, compared to $13 thousand for the fourth quarter of 2024, and $56 thousand for the first quarter of 2024.

The following table summarizes our NPAs at the dates indicated (dollars in thousands):

 March 31,
2025		 December 31,
2024		 September 30,
2024		 June 30,
2024		 March 31,
2024
Nonperforming Loans:         
One-to-four family$762  $537  $745  $822  $835 
Home equity loans 368   298   338   342   83 
Commercial and multifamily 5,627   3,734   4,719   5,161   4,747 
Construction and land 22   24   25   28   29 
Manufactured homes 501   521   230   136   166 
Floating homes 2,363   2,363   2,377   2,417   3,192 
Commercial business —   11   23   —   — 
Other consumer 10   3   32   3   1 
Total nonperforming loans 9,653   7,491   8,489   8,909   9,053 
OREO and Other Repossessed Assets:         
Commercial and multifamily —   —   —   —   575 
Manufactured homes 41   —   115   115   115 
Total OREO and repossessed assets 41   —   115   115   690 
Total NPAs$9,694  $7,491  $8,604  $9,024  $9,743 
          
Percentage of Nonperforming Loans:         
One-to-four family 7.9%  7.3%  8.7%  9.1%  8.5%
Home equity loans 3.8   4.0   3.9   3.8   0.9 
Commercial and multifamily 58.0   49.8   54.8   57.2   48.7 
Construction and land 0.2   0.3   0.3   0.3   0.3 
Manufactured homes 5.2   7.0   2.7   1.5   1.7 
Floating homes 24.4   31.5   27.6   26.8   32.8 
Commercial business —   0.1   0.3   —   — 
Other consumer 0.1   —   0.4   —   — 
Total nonperforming loans 99.6   100.0   98.7   98.7   92.9 
Percentage of OREO and Other Repossessed Assets:         
Commercial and multifamily —   —   —   —   5.9 
Manufactured homes 0.4   —   1.3   1.3   1.2 
Total OREO and repossessed assets 0.4   —   1.3   1.3   7.1 
Total NPAs 100.0%  100.0%  100.0%  100.0%  100.0%
 

The following table summarizes the allowance for credit losses at the dates and for the periods indicated (dollars in thousands, unaudited):

 At or For the Quarter Ended:
 March 31,
2025		 December 31,
2024		 September 30,
2024		 June 30,
2024		 March 31,
2024
Allowance for Credit Losses on Loans         
Balance at beginning of period$8,499  $8,585  $8,493  $8,598  $8,760 
(Release of) provision for credit losses during the period (85)  (73)  106   (88)  (106)
Net charge-offs during the period (21)  (13)  (14)  (17)  (56)
Balance at end of period$8,393  $8,499  $8,585  $8,493  $8,598 
Allowance for Credit Losses on Unfunded Loan Commitments         
Balance at beginning of period$234  $147  $245  $266  $193 
Provision for (release of) provision for credit losses during the period (118)  87   (98)  (21)  73 
Balance at end of period 116   234   147   245   266 
Allowance for Credit Losses$8,509  $8,733  $8,732  $8,738  $8,864 
Allowance for credit losses on loans to total loans 0.95%  0.94%  0.95%  0.96%  0.96%
Allowance for credit losses to total loans 0.96%  0.97%  0.97%  0.98%  0.99%
Allowance for credit losses on loans to total nonperforming loans 86.95%  113.46%  101.13%  95.33%  94.97%
Allowance for credit losses to total nonperforming loans 88.15%  116.58%  102.86%  98.08%  97.91%
                    

Total deposits increased $72.5 million, or 8.7%, to $910.3 million at March 31, 2025, from $837.8 million at December 31, 2024 and decreased $6.5 million, or 0.7%, from $916.9 million at March 31, 2024. The increase in total deposits compared to the prior quarter-end was primarily a result of the movement of reciprocal deposits off balance sheet for strategic objectives at year-end, followed by the return of those deposits to our balance sheet in the first quarter of 2025, and a decrease in one high cost money market deposit relationship as part of our strategic decision to decrease our overall cost of funds. Noninterest-bearing deposits decreased $5.8 million, or 4.4%, to $126.7 million at March 31, 2025, compared to $132.5 million at December 31, 2024 and decreased $2.0 million, or 1.5%, from $128.7 million at March 31, 2024. Noninterest-bearing deposits represented 13.9%, 15.8% and 14.0% of total deposits at March 31, 2025, December 31, 2024 and March 31, 2024, respectively.

FHLB advances totaled $25.0 million at March 31, 2025, compared to $25.0 million at both December 31, 2024, and March 31, 2024. FHLB advances are primarily used to support organic loan growth and to maintain liquidity ratios in line with our asset/liability objectives. FHLB advances outstanding at March 31, 2025 had maturities ranging from early 2026 through early 2028. Subordinated notes, net totaled $11.8 million at both March 31, 2025 and December 31, 2024, and $11.7 million at March 31, 2024.

Stockholders’ equity totaled $104.4 million at March 31, 2025, an increase of $765 thousand, or 0.7%, from $103.7 million at December 31, 2024, and an increase of $3.4 million, or 3.4%, from $101.0 million at March 31, 2024. The increase in stockholders’ equity from December 31, 2024 was primarily the result of $1.2 million of net income earned during the current quarter, $81 thousand in share-based compensation, and $21 thousand in common stock options exercised, partially offset by a $17 thousand increase in accumulated other comprehensive loss, net of tax and the payment of $487 thousand in cash dividends to the Company's stockholders.

Sound Financial Bancorp, Inc., a bank holding company, is the parent company of Sound Community Bank, which is headquartered in Seattle, Washington and has full-service branches in Seattle, Tacoma, Mountlake Terrace, Sequim, Port Angeles, Port Ludlow and University Place. Sound Community Bank is a Fannie Mae Approved Lender and Seller/Servicer with one loan production office located in the Madison Park neighborhood of Seattle. For more information, please visit www.soundcb.com.

Forward-Looking Statements Disclaimer

When used in this press release and in documents filed or furnished by Sound Financial Bancorp, Inc. (the "Company") with the Securities and Exchange Commission (the "SEC"), in the Company's other press releases or other public or stockholder communications, and in oral statements made with the approval of an authorized executive officer, the words or phrases "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," "intends" or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, which are based on various underlying assumptions and expectations and are subject to risks, uncertainties and other unknown factors, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events and may turn out to be wrong because of inaccurate assumptions we might make, because of the factors listed below or because of other factors that we cannot foresee that could cause our actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date made.

Factors which could cause actual results to differ materially, include, but are not limited to: adverse impacts to economic conditions in the Company’s local market areas, other markets where the Company has lending relationships, or other aspects of the Company's business operations or financial markets, including, without limitation, as a result of employment levels, labor shortages and the effects of inflation or deflation, a recession or slowed economic growth, as well as supply chain disruptions; changes in the interest rate environment, including increases and decreases in the Board of Governors of the Federal Reserve System (the Federal Reserve) benchmark rate and the duration at which such interest rate levels are maintained, which could adversely affect our revenues and expenses, the values of our assets and obligations, and the availability and cost of capital and liquidity; the impact of inflation and the current and future monetary policies of the Federal Reserve in response thereto; the effects of any federal government shutdown; the impact of bank failures or adverse developments at other banks and related negative press about the banking industry in general on investor and depositor sentiment; changes in consumer spending, borrowing and savings habits; fluctuations in interest rates; the risks of lending and investing activities, including changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the allowance for credit losses; the Company's ability to access cost-effective funding; fluctuations in real estate values and both residential and commercial real estate market conditions; demand for loans and deposits in the Company's market area; secondary market conditions for loans;expectations regarding key growth initiatives and strategic priorities; environmental, social and governance goals and targets; results of examinations of the Company or the Bank by their regulators; increased competition; changes in management's business strategies; legislative changes; changes in the regulatory and tax environments in which the Company operates; disruptions, security breaches, or other adverse events, failures or interruptions in, or attacks on, our information technology systems or on our third-party vendors; the potential for new or increased tariffs, trade restrictions, or geopolitical tensions that could affect economic activity or specific industry sectors; the effects of climate change, severe weather events, natural disasters, pandemics, epidemics and other public health crises, acts of war or terrorism, civil unrest and other external events on our business; and other factors described in the Company's latest Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and other documents filed with or furnished to the SEC, which are available at www.soundcb.com and on the SEC's website at www.sec.gov. The risks inherent in these factors could cause the Company's actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, the Company and could negatively affect the Company's operating and stock performance.

The Company does not undertake—and specifically disclaims any obligation—to revise any forward-looking statement to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statement.

CONSOLIDATED INCOME STATEMENTS
(Dollars in thousands, unaudited)

  For the Quarter Ended
  March 31,
2025		 December 31,
2024		 September 30,
2024		 June 30,
2024		 March 31,
2024
Interest income $13,706  $14,736  $14,838 $14,039  $13,760 
Interest expense  5,635   6,516   6,965  6,591   6,300 
Net interest income  8,071   8,220   7,873  7,448   7,460 
(Release of) provision for credit losses  (203)  14   8  (109)  (33)
Net interest income after (release of) provision for credit losses  8,274   8,206   7,865  7,557   7,493 
Noninterest income:          
Service charges and fee income  684   619   628  761   612 
Earnings on bank-owned life insurance  195   127   186  134   177 
Mortgage servicing income  269   277   280  279   282 
Fair value adjustment on mortgage servicing rights  (99)  77   101  (116)  (65)
Net gain on sale of loans  49   53   40  74   90 
Other income  —   7   —  30   — 
Total noninterest income  1,098   1,160   1,235  1,162   1,096 
Noninterest expense:          
Salaries and benefits  4,595   3,920   4,469  4,658   4,543 
Operations  1,365   1,329   1,540  1,569   1,457 
Regulatory assessments  221   189   189  220   189 
Occupancy  437   409   414  397   444 
Data processing  1,293   1,232   1,067  910   1,017 
Net (gain) loss on OREO and repossessed assets  3   (21)  —  (17)  6 
Total noninterest expense  7,914   7,058   7,679  7,737   7,656 
Income before provision for income taxes  1,458   2,308   1,421  982   933 
Provision for income taxes  291   389   267  187   163 
Net income $1,167  $1,919  $1,154 $795  $770 
 

CONSOLIDATED BALANCE SHEETS
(Dollars in thousands, unaudited)

  March 31,
2025		 December 31,
2024		 September 30,
2024		 June 30,
2024		 March 31,
2024
ASSETS          
Cash and cash equivalents $131,494  $43,641  $148,930  $135,111  $137,977 
Available-for-sale securities, at fair value  7,689   7,790   8,032   7,996   8,115 
Held-to-maturity securities, at amortized cost  2,121   2,130   2,139   2,147   2,157 
Loans held-for-sale  2,267   487   65   257   351 
Loans held-for-portfolio  886,226   900,171   901,733   889,274   897,877 
Allowance for credit losses - loans  (8,393)  (8,499)  (8,585)  (8,493)  (8,598)
Total loans held-for-portfolio, net  877,833   891,672   893,148   880,781   889,279 
Accrued interest receivable  3,540   3,471   3,705   3,413   3,617 
Bank-owned life insurance, net  22,685   22,490   22,363   22,172   22,037 
Other real estate owned ("OREO") and other repossessed assets, net  41   —   115   115   690 
Mortgage servicing rights, at fair value  4,688   4,769   4,665   4,540   4,612 
Federal Home Loan Bank ("FHLB") stock, at cost  1,734   1,730   2,405   2,406   2,406 
Premises and equipment, net  4,591   4,697   4,807   4,906   6,685 
Right-of-use assets  3,546   3,725   3,779   4,020   4,259 
Other assets  6,957   7,031   6,777   6,995   4,500 
TOTAL ASSETS $1,069,186  $993,633  $1,100,930  $1,074,859  $1,086,685 
LIABILITIES          
Interest-bearing deposits $783,660  $705,267  $800,480  $781,854  $788,217 
Noninterest-bearing deposits  126,687   132,532   129,717   124,915   128,666 
Total deposits  910,347   837,799   930,197   906,769   916,883 
Borrowings  25,000   25,000   40,000   40,000   40,000 
Accrued interest payable  586   765   908   760   719 
Lease liabilities  3,828   4,013   4,079   4,328   4,576 
Other liabilities  10,774   9,371   9,711   9,105   9,578 
Advance payments from borrowers for taxes and insurance  2,450   1,260   2,047   812   2,209 
Subordinated notes, net  11,770   11,759   11,749   11,738   11,728 
TOTAL LIABILITIES  964,755   889,967   998,691   973,512   985,693 
STOCKHOLDERS' EQUITY:          
Common stock  25   25   25   25   25 
Additional paid-in capital  28,515   28,413   28,296   28,198   28,110 
Retained earnings  76,952   76,272   74,840   74,173   73,907 
Accumulated other comprehensive loss, net of tax  (1,061)  (1,044)  (922)  (1,049)  (1,050)
TOTAL STOCKHOLDERS' EQUITY  104,431   103,666   102,239   101,347   100,992 
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $1,069,186  $993,633  $1,100,930  $1,074,859  $1,086,685 
 

KEY FINANCIAL RATIOS
(unaudited)

  For the Quarter Ended
  March 31,
2025		 December 31,
2024		 September 30,
2024		 June 30,
2024		 March 31,
2024
Annualized return on average assets 0.45% 0.70% 0.42% 0.30% 0.29%
Annualized return on average equity 4.53% 7.40% 4.50% 3.17% 3.06%
Annualized net interest margin(1) 3.25% 3.13% 2.98% 2.92% 2.95%
Annualized efficiency ratio(2) 86.31% 75.25% 84.31% 89.86% 89.48%


(1)Net interest income divided by average interest earning assets.
(2)Noninterest expense divided by total revenue (net interest income and noninterest income).
  

PER COMMON SHARE DATA
(unaudited)

  At or For the Quarter Ended
  March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024
Basic earnings per share $0.45 $0.75 $0.45 $0.31 $0.30
Diluted earnings per share $0.45 $0.74 $0.45 $0.31 $0.30
Weighted-average basic shares outstanding  2,554,265  2,547,210  2,544,233  2,540,538  2,539,213
Weighted-average diluted shares outstanding  2,578,609  2,578,771  2,569,368  2,559,015  2,556,958
Common shares outstanding at period-end  2,566,069  2,564,907  2,564,095  2,557,284  2,558,546
Book value per share $40.70 $40.42 $39.87 $39.63 $39.47
                

AVERAGE BALANCE, AVERAGE YIELD EARNED, AND AVERAGE RATE PAID
(Dollars in thousands, unaudited)

The following table presents, for the periods indicated, the total dollar amount of interest income from average interest-earning assets and the resultant yields, as well as the interest expense on average interest-bearing liabilities, expressed both in dollars and rates. Income and yields on tax-exempt obligations have not been computed on a tax equivalent basis. All average balances are daily average balances. Nonaccrual loans have been included in the table as loans carrying a zero yield for the period they have been on nonaccrual (dollars in thousands).

 Three Months Ended
 March 31, 2025 December 31, 2024 March 31, 2024
 Average Outstanding Balance Interest Earned/Paid Yield/Rate Average Outstanding Balance Interest Earned/Paid Yield/Rate Average Outstanding Balance Interest Earned/Paid Yield/Rate
Interest-Earning Assets:                 
Loans receivable$896,822  $12,588 5.69% $900,832  $13,070 5.77% $895,430  $12,233 5.49%
Interest-earning cash 95,999   1,010 4.27%  130,412   1,534 4.68%  107,361   1,416 5.30%
Investments 12,924   108 3.39%  13,263   132 3.96%  14,038   111 3.18%
Total interest-earning assets$1,005,745   13,706 5.53%  1,044,507  $14,736 5.61% $1,016,829   13,760 5.44%
Interest-Bearing Liabilities:                 
Savings and money market accounts$335,419   2,058 2.49% $350,495   2,476 2.81% $284,455   1,866 2.64%
Demand and NOW accounts 140,905   108 0.31%  144,470   128 0.35%  159,762   141 0.35%
Certificate accounts 289,960   3,039 4.25%  301,293   3,413 4.51%  315,495   3,696 4.71%
Subordinated notes 11,766   168 5.79%  11,756   168 5.69%  11,724   168 5.76%
Borrowings 25,000   262 4.25%  30,546   331 4.31%  40,000   429 4.31%
Total interest-bearing liabilities$803,050   5,635 2.85% $838,560   6,516 3.09% $811,436   6,300 3.12%
Net interest income/spread  $8,071 2.68%   $8,220 2.52%   $7,460 2.32%
Net interest margin    3.25%     3.13%     2.95%
                  
Ratio of interest-earning assets to interest-bearing liabilities 125%      125%      125%    
Noninterest-bearing deposits$126,215      $130,476      $132,438     
Total deposits 892,499  $5,205 2.37%  926,734  $6,017 2.58%  892,150  $5,703 2.57%
Total funding (1) 929,265   5,635 2.46%  969,036   6,516 2.68%  943,874   6,300 2.68%


(1)Total funding is the sum of average interest-bearing liabilities and average noninterest-bearing deposits. The cost of total funding is calculated as annualized total interest expense divided by average total funding.
  

LOANS
(Dollars in thousands, unaudited)

  March 31,
2025		 December 31,
2024		 September 30,
2024		 June 30,
2024		 March 31,
2024
Real estate loans:          
One-to-four family $262,457  $269,684  $271,702  $268,488  $279,213 
Home equity  28,112   26,686   25,199   26,185   24,380 
Commercial and multifamily  392,798   371,516   358,587   342,632   324,483 
Construction and land  42,492   73,077   85,724   96,962   111,726 
Total real estate loans  725,859   740,963   741,212   734,267   739,802 
Consumer Loans:          
Manufactured homes  42,448   41,128   40,371   38,953   37,583 
Floating homes  86,626   86,411   86,155   81,622   84,237 
Other consumer  18,224   17,720   18,266   18,422   18,847 
Total consumer loans  147,298   145,259   144,792   138,997   140,667 
Commercial business loans  14,690   15,605   17,481   17,860   19,075 
Total loans  887,847   901,827   903,485   891,124   899,544 
Less:          
Premiums  688   718   736   754   808 
Deferred fees, net  (2,309)  (2,374)  (2,488)  (2,604)  (2,475)
Allowance for credit losses - loans  (8,393)  (8,499)  (8,585)  (8,493)  (8,598)
Total loans held-for-portfolio, net $877,833  $891,672  $893,148  $880,781  $889,279 
 

DEPOSITS
(Dollars in thousands, unaudited)

  March 31,
2025		 December 31,
2024		 September 30,
2024		 June 30,
2024		 March 31,
2024
Noninterest-bearing demand $126,687 $132,532 $129,717 $124,915 $128,666
Interest-bearing demand  143,595  142,126  148,740  152,829  159,178
Savings  63,533  61,252  61,455  63,368  65,723
Money market  287,058  206,067  285,655  253,873  241,976
Certificates  289,474  295,822  304,630  311,784  321,340
Total deposits $910,347 $837,799 $930,197 $906,769 $916,883
 

CREDIT QUALITY DATA
(Dollars in thousands, unaudited)

  At or For the Quarter Ended
  March 31,
2025		 December 31,
2024		 September 30,
2024		 June 30,
2024		 March 31,
2024
Total nonperforming loans $9,653  $7,491  $8,489  $8,909  $9,053 
OREO and other repossessed assets  41   —   115   115   690 
Total nonperforming assets $9,694  $7,491  $8,604  $9,024  $9,743 
Net charge-offs during the quarter $(21) $(13) $(14) $(17) $(56)
Provision for (release of) credit losses during the quarter  (203)  14   8   (109)  (33)
Allowance for credit losses - loans  8,393   8,499   8,585   8,493   8,598 
Allowance for credit losses - loans to total loans  0.95%  0.94%  0.95%  0.96%  0.96%
Allowance for credit losses - loans to total nonperforming loans  86.95%  113.46%  101.13%  95.33%  94.97%
Nonperforming loans to total loans  1.09%  0.83%  0.94%  1.00%  1.01%
Nonperforming assets to total assets  0.91%  0.75%  0.78%  0.84%  0.90%
                     

OTHER STATISTICS
(Dollars in thousands, unaudited)

  At or For the Quarter Ended
  March 31,
2025		 December 31,
2024		 September 30,
2024		 June 30,
2024		 March 31,
2024
           
Total loans to total deposits  97.53%  107.64%  97.13%  98.27%  98.11%
Noninterest-bearing deposits to total deposits  13.92%  15.82%  13.95%  13.78%  14.03%
           
Average total assets for the quarter $1,051,135  $1,089,067  $1,095,404  $1,070,579  $1,062,036 
Average total equity for the quarter $104,543  $103,181  $102,059  $100,961  $101,292 
                     

Contact

Financial:
Wes Ochs 
Executive Vice President/CFO
(206) 436-8587 
  
Media:
Laurie Stewart 
President/CEO
(206) 436-1495 
  

FAQ

What was Sound Financial (SFBC) earnings per share in Q1 2025?

Sound Financial (SFBC) reported diluted earnings per share of $0.45 in Q1 2025, compared to $0.74 in Q4 2024 and $0.30 in Q1 2024.

How much dividend will SFBC pay in May 2025?

SFBC will pay a cash dividend of $0.19 per share on May 23, 2025, to stockholders of record as of May 9, 2025.

What is SFBC's net interest margin for Q1 2025?

SFBC's net interest margin was 3.25% for Q1 2025, improving from 3.13% in Q4 2024 and 2.95% in Q1 2024.

How did SFBC's total deposits change in Q1 2025?

SFBC's total deposits increased by $72.5 million (8.7%) to $910.3 million in Q1 2025 compared to Q4 2024, but decreased by $6.5 million (0.7%) compared to Q1 2024.

What is SFBC's loan-to-deposit ratio in Q1 2025?

SFBC's loan-to-deposit ratio was 98% at March 31, 2025, down from 108% at December 31, 2024, and unchanged from 98% at March 31, 2024.

How much was SFBC's total net income in Q1 2025?

SFBC reported net income of $1.2 million for Q1 2025, down from $1.9 million in Q4 2024 but up from $770 thousand in Q1 2024.
Stock SFBC logo
Sound Finl Bancorp Inc

NASDAQ:SFBC

SFBC Rankings

#2544 Ranked by Market Cap
#1680 Ranked by Dividends

SFBC Latest News

Feb 14, 2025
Sound Financial Bancorp, Inc. Announces Annual Shareholders Meeting Date
Jan 29, 2025
Sound Financial Bancorp, Inc. Q4 2024 Results
Oct 30, 2024
Sound Financial Bancorp, Inc. Q3 2024 Results
Sep 26, 2024
Laurie Stewart Named One of American Banker’s “Most Powerful Women to Watch”
Jul 29, 2024
Sound Financial Bancorp, Inc. Q2 2024 Results

SFBC Stock Data

121.74M
2.11M
16.69%
36.5%
0.37%
Banks - Regional
Savings Institution, Federally Chartered
Link
United States
SEATTLE