Sound Financial Bancorp Inc. (SFBC) Financial Statements (2024 and earlier)

Company Profile

Business Address 2400 3RD AVENUE
SEATTLE, WA 98121
State of Incorp. MD
Fiscal Year End December 31
Industry (SIC) 6035 - Savings Institutions, Federally Chartered (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments57,836183,590193,82855,77061,81060,680
Cash and cash equivalents57,836183,590193,82855,77061,81060,680
Financing receivable, accrued interest, after allowance for credit loss   
Debt securities, held-to-maturity, accrued interest, after allowance for credit loss   
Total current assets:57,836183,590193,82855,77061,81060,680
Noncurrent Assets
Operating lease, right-of-use asset5,1025,8116,7227,641
Property, plant and equipment5,5135,8196,2706,7677,0447,392
Total noncurrent assets:10,61511,63012,99214,4087,0447,392
Other undisclosed assets907,900724,471654,582649,675647,881577,172
TOTAL ASSETS:976,351919,691861,402719,853716,735645,244
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt     59,000
Total current liabilities:     59,000
Noncurrent Liabilities
Other undisclosed liabilities878,646826,333775,918642,127645,108521,084
Total liabilities:878,646826,333775,918642,127645,108580,084
Equity
Equity, attributable to parent97,70593,35885,48477,72671,62765,160
Common stock262625252525
Additional paid in capital28,00427,95627,10626,34325,66324,986
Accumulated other comprehensive income (loss)(1,117)139240175114109
Retained earnings70,79265,23758,22651,41046,16540,493
Unearned esop shares   (113)(227)(340)(453)
Total equity:97,70593,35885,48477,72671,62765,160
TOTAL LIABILITIES AND EQUITY:976,351919,691861,402719,853716,735645,244

Income Statement (P&L) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues38,72337,57940,46134,53932,91930,239
Net investment income38,17733,38934,43933,09031,66126,707
Cost of revenue (1,225)(425)(925) (525)(500)
Provision for loan, lease, and other losses (1,225)(425)(925) (525)
Financial services costs(500)
Gross profit:37,49837,15439,53634,53932,39429,739
Operating expenses(5,812)(5,765)(5,461)(5,905)(5,370)(4,348)
Operating income:31,68631,38934,07528,63427,02425,391
Nonoperating income (expense)426(392)(1,509)(379)320327
Bank owned life insurance income219416348381320327
Mortgage servicing rights (msr) impairment (recovery)207(808)(1,857)(760)  
Interest and debt expense(4,500)(3,954)(7,450)(7,617)(5,360)(3,368)
Other undisclosed loss from continuing operations before equity method investments, income taxes   (13,788)(12,308)(13,239)(14,157)
Income from continuing operations before equity method investments, income taxes:27,61227,04311,3288,3308,7458,193
Other undisclosed loss from continuing operations before income taxes(16,736)(15,615)    
Income from continuing operations before income taxes:10,87611,42811,3288,3308,7458,193
Income tax expense(2,072)(2,272)(2,391)(1,651)(1,706)(3,068)
Income from continuing operations:8,8049,1568,9376,6797,0395,125
Income before gain (loss) on sale of properties:9,1568,9376,6797,0395,125
Net income attributable to parent:8,8049,1568,9376,6797,0395,125
Undistributed earnings (loss) allocated to participating securities, basic(47)     
Other undisclosed net loss available to common stockholders, basic(14)     
Net income available to common stockholders, diluted:8,7439,1568,9376,6797,0395,125

Comprehensive Income ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:8,8049,1568,9376,6797,0395,125
Comprehensive income:8,8049,1568,9376,6797,0395,125
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(1,256)(101)6561528
Comprehensive income, net of tax, attributable to parent:7,5489,0559,0026,7407,0445,153

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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