Sound Financial Bancorp, Inc. Reports Net income of $2.1 million for Second Quarter 2020

Rhea-AI Summary

Sound Financial Bancorp (NASDAQ: SFBC) reported a net income of $2.1 million for the second quarter of 2020, equating to $0.82 diluted earnings per share, a significant increase from $1.0 million or $0.38 per share in the prior quarter. Year-over-year, the earnings improved from $1.8 million or $0.71 per share. The Board of Directors declared a cash dividend of $0.15 per share, payable on August 19, 2020, to stockholders of record by August 5, 2020.

Positive

• Net income increased to $2.1 million in Q2 2020 from $1.0 million in Q1 2020.
• Earnings per share rose to $0.82, reflecting stronger financial performance year-over-year.
• Declared a cash dividend of $0.15 per share, indicating shareholder value enhancement.

Negative

• None.

SEATTLE, July 24, 2020 (GLOBE NEWSWIRE) -- Sound Financial Bancorp, Inc. (NASDAQ: SFBC), the parent company of Sound Community Bank, issued a press release announcing second quarter 2020 financial results. The Company reported net income of $2.1 million for the quarter ended June 30, 2020, or $0.82 diluted earnings per share, compared to net income of $1.0 million, or $0.38 diluted earnings per share, for the quarter ended March 31, 2020 and $1.8 million, or $0.71 diluted earnings per share, for the quarter ended June 30, 2019.  The Company also announced today that the Board of Directors has declared a cash dividend on Company common stock of $0.15 per share, payable on August 19, 2020 to stockholders of record as of the close of business on August 5, 2020.

A copy of the press release can be accessed online at: https://www.sec.gov/Archives/edgar/data/1541119/000154111920000032/a6302020earningsreleas.htm

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Media:		Financial:
Laurie Stewart		Daphne Kelley
President/CEO		EVP/CFO
(206) 448-0884 x306		(206) 448-0884 x305

FAQ

What were Sound Financial Bancorp's Q2 2020 earnings?

Sound Financial Bancorp reported a net income of $2.1 million for Q2 2020.

What is the dividend declared by SFBC for August 2020?

SFBC declared a cash dividend of $0.15 per share, payable on August 19, 2020.

How does SFBC's Q2 2020 earnings compare to Q1 2020?

In Q2 2020, SFBC's net income was $2.1 million, up from $1.0 million in Q1 2020.

What was SFBC's diluted earnings per share for Q2 2020?

The diluted earnings per share for SFBC in Q2 2020 were $0.82.