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)

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments49,690101,890100,16981,58057,83676,064
Cash and cash equivalents49,690101,890100,16981,58057,83676,064
Financing receivable, accrued interest, after allowance for credit loss3,4003,2003,0003,000  
Debt securities, held-to-maturity, accrued interest, after allowance for credit loss49784978  
Total current assets:53,139105,168103,21884,65857,83676,064
Noncurrent Assets
Operating lease, right-of-use asset4,4964,7324,9665,2005,1025,319
Property, plant and equipment5,2405,2045,3215,3705,5135,505
Total noncurrent assets:9,7369,93610,28710,57010,61510,824
Other undisclosed assets932,346915,072897,269909,135907,900895,358
TOTAL ASSETS:995,2211,030,1761,010,7741,004,363976,351982,246
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt 15,000     
Total current liabilities: 15,000     
Noncurrent Liabilities
Other undisclosed liabilities879,567929,938910,850905,758878,646887,290
Total liabilities:894,567929,938910,850905,758878,646887,290
Equity
Equity, attributable to parent100,654100,23899,92498,60597,70594,956
Common stock252525262626
Additional paid in capital27,99028,11228,07028,25128,00427,886
Accumulated other comprehensive loss(988)(1,337)(1,094)(1,034)(1,117)(1,265)
Retained earnings73,62773,43872,92371,36270,79268,309
Total equity:100,654100,23899,92498,60597,70594,956
TOTAL LIABILITIES AND EQUITY:995,2211,030,1761,010,7741,004,363976,351982,246

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

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
Revenues12,10911,58111,66111,45911,12710,375
Net investment income12,03311,50511,55111,38111,07810,327
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
  (75) (10)(124)(375)
Gross profit:12,10911,50611,66111,44911,00310,000
Operating expenses(1,538)(1,625)(1,491)(1,441)(1,489)(1,581)
Operating income:10,5719,88110,17010,0089,5148,419
Nonoperating income (expense)1,083(78)96114768
Bank owned life insurance income    15117459
Mortgage servicing rights (msr) impairment (recovery) (78)96(140)(127)9
Interest and debt expense(5,769)(4,518)(3,668)(2,803)(2,132)(1,179)
Income from continuing operations before equity method investments, income taxes:5,8855,2856,5987,2167,4297,308
Other undisclosed loss from continuing operations before income taxes(4,532)(3,821)(3,129)(4,501)(3,967)(4,096)
Income from continuing operations before income taxes:1,3531,4643,4692,7153,4623,212
Income tax expense(142)(295)(577)(547)(539)(666)
Income from continuing operations:1,2111,1692,8922,1682,9232,546
Income before gain (loss) on sale of properties:2,546
Net income attributable to parent:1,2111,1692,8922,1682,9232,546
Undistributed earnings (loss) allocated to participating securities, basic(4)(4)(15)(11)(6)(17)
Other undisclosed net income (loss) available to common stockholders, basic(3)(3)(3)(3)(55)17
Net income available to common stockholders, basic:1,2041,1622,8742,1542,8622,546
Other undisclosed net loss available to common stockholders, diluted (1)     
Net income available to common stockholders, diluted:1,2031,1622,8742,1542,8622,546

Comprehensive Income ($ in thousands)

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
Net income:1,2111,1692,8922,1682,9232,546
Comprehensive income:1,2111,1692,8922,1682,9232,546
Other undisclosed comprehensive income (loss), net of tax, attributable to parent349(243)(60)83148(316)
Comprehensive income, net of tax, attributable to parent:1,5609262,8322,2513,0712,230

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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