Sound Financial Bancorp, Inc. reported Q2 net income of $795 thousand, with $0.31 EPS, declaring a dividend.

From GlobeNewswire: 2024-07-29 16:45:00

Sound Financial Bancorp, Inc. reported a Q2 net income of $795 thousand, with diluted EPS of $0.31. The company declared a dividend of $0.19 per share. President Laurie Stewart highlighted steady credit quality and a focus on key initiatives. Total assets decreased to $1.07 billion, with net interest income at $7.4 million.

Interest income increased to $14.0 million, driven by higher loan yields and interest-bearing cash. Interest expense rose to $6.6 million. Loans held-for-portfolio decreased to $889.3 million. NIM was 2.92%. Total noninterest income rose to $1.2 million. Operating expenses were $7.7 million. Nonperforming loans totaled $8.9 million.

Total deposits decreased to $906.8 million, with noninterest-bearing deposits at $124.9 million. Loans-to-deposits ratio was 98%. The Bank remained well-capitalized. Interest income on investments increased to $133 thousand, while interest income on cash rose to $1.6 million. Interest expense increased to $6.6 million.



Read more at GlobeNewswire:: Sound Financial Bancorp, Inc. Q2 2024 Results