Financial Performance - Total interest income for Q2 2024 was $14,039,000, an increase of 13.1% from $12,412,000 in Q2 2023[6] - Net income for Q2 2024 decreased to $795,000, down 72.5% from $2,892,000 in Q2 2023[6] - Basic earnings per share for Q2 2024 was $0.31, down from $1.12 in Q2 2023, representing a decline of 72.3%[6] - The company reported comprehensive income of $796,000 for Q2 2024, compared to $2,832,000 in Q2 2023[8] - Year-to-date net income for 2024 decreased by $3.5 million, or 69.1%, to $1.6 million, compared to $5.1 million in the same period of 2023[123] - Net interest income for the three months ended June 30, 2024, was $7.448 million, compared to $8.744 million for the same period in 2023[117] - Net interest income decreased by $3.2 million, or 17.7%, to $14.9 million for the six months ended June 30, 2024, from $18.1 million for the same period in 2023[128] Noninterest Income and Expenses - Noninterest income for the first half of 2024 was $2,258,000, a decrease of 21.0% compared to $2,858,000 in the same period of 2023[6] - Noninterest income decreased by $729 thousand, or 38.6%, to $1.2 million for the three months ended June 30, 2024, compared to $1.9 million for the same period in 2023[131] - Total noninterest expense for the first half of 2024 was $15,394,000, slightly up from $15,112,000 in the first half of 2023[6] - Total noninterest expense for the three months ended June 30, 2024, was $7,737,000, an increase of 3.2% from $7,497,000 in the same period last year[6] Dividends and Stockholder Equity - Cash dividends paid on common stock were $0.19 per share for Q2 2024, totaling $486,000[10] - Cash dividends paid on common stock for Q2 2024 were $972,000, compared to $936,000 in Q2 2023, reflecting a slight increase[14] - The total stockholders' equity increased to $101,347,000 as of June 30, 2024, up from $100,654,000 at the end of 2023[10] - Stockholders' equity increased to $101.3 million at June 30, 2024, from $100.7 million at December 31, 2023, supported by net income of $1.6 million[138] Loans and Credit Quality - Total loans held-for-portfolio amounted to $891,124 thousand, a decrease of 0.4% from $896,160 thousand on December 31, 2023[28] - The allowance for credit losses on loans was $8,493 thousand as of June 30, 2024, down from $8,760 thousand at the end of 2023, indicating a reduction of 3.0%[30] - The company reported three collateral dependent consumer mortgage loans in the process of foreclosure, totaling $457 thousand[29] - The company regularly reviews its loan portfolio to assess credit quality indicators and classify loans appropriately, with additional reporting on problem loans every three months[40] - There were no loans classified as doubtful or loss as of June 30, 2024, indicating strong credit quality management[41] Cash Flow and Financing Activities - Net cash provided by financing activities was $79,217,000 for the six months ended June 30, 2023, compared to $27,746,000 for the same period in 2022, showing a substantial increase of about 185%[14] - The company reported a net cash increase of $85,421,000 for the six months ended June 30, 2024, compared to $42,333,000 for the same period in 2023[14] - Cash and cash equivalents at the end of Q2 2024 stood at $135,111,000, up from $100,169,000 at the end of Q2 2023[14] Securities and Investments - The total fair value of the securities portfolio was $9.7 million, down from $10.1 million at December 31, 2023[26] - The amortized cost and fair value of available-for-sale (AFS) securities were $9.325 million and $7.996 million, respectively, with gross unrealized losses of $1.348 million[20] - The company did not recognize any provision for credit losses on investment securities during the six months ended June 30, 2024, as declines in fair value were not attributable to credit quality[26] Regulatory Compliance and Accounting Standards - The company is evaluating the impact of the adoption of ASU 2023-07 on the footnotes to its consolidated financial statements, effective for fiscal years beginning after December 15, 2023[18] - The company does not expect the adoption of ASU 2023-09 to have a material impact on the footnotes to its consolidated financial statements[19] - The Company implemented the CECL model starting January 1, 2023, and is phasing in the full effect of CECL on regulatory capital over a three-year transition period[143]

"Modest increases in net income and earnings per share, coupled with a reduction in nonperforming assets and a minimal quarter-over-quarter expense increase of only $81 thousand, indicate that we have maintained our focus on key initiatives during this period of narrow net interest margins," remarked Laurie Stewart, President and Chief Executive Officer. "Our credit quality performance ratios remain strong, and our allowance for credit losses reserve ratio remained steady over the past five quarters," conti ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35633 Sound Financial Bancorp, Inc. (Exact name of registrant as specified in its charter) | Maryland | 45-5188530 | | --- | -- ...

"Additionally, while we experienced an increase in nonperforming assets, we do not believe this is indicative of greater market trends. Rather, the increase mainly reflected specific borrower situations for a few real estate collateralized properties that are well-secured and being managed by our credit team," concluded Ms. Stewart. | Q1 2024 Financial | Performance | | --- | --- | | Total assets increased $91.5 million or 9.2% to $1.09 | Net interest income decreased $107 thousand or 1.4% to | | | $7.5 mil ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ COMMISSION FILE NUMBER 001-35633 Sound Financial Bancorp, Inc. (Exact name of registrant as specified in its charter) | Maryland | | 45-5188530 | | --- | - ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35633 Sound Financial Bancorp, Inc. (Exact name of registrant as specified in its charter) | Maryland | 45-5188530 | | --- ...

FORM 10-Q (Mark One) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact name of registrant as specified in its charter) | Maryland | 45-5188530 | | --- | --- | | (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | | 2400 3rd Avenue, Suite 150, Seattle, Washington | 98121 | | (Address of principal executive offices) | (Zip Code) | | Registra ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35633 Sound Financial Bancorp, Inc. (Exact name of registrant as specified in its charter) | Maryland | 45-5188530 | | --- | -- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ COMMISSION FILE NUMBER 001-35633 Sound Financial Bancorp, Inc. (Exact name of registrant as specified in its charter) | Maryland | | 45-5188530 | | --- | - ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to COMMISSION FILE NUMBER 001-35633 Sound Financial Bancorp, Inc. (Exact Name of Registrant as Specified in its Charter) | Maryland | 45-5188530 | | --- | --- | | (S ...