From GlobeNewswire

1. GlobeNewswire reports that Amazon’s third-quarter revenue increased by 37% to $96.15 billion, surpassing analysts’ expectations of $92.7 billion. The company’s net income also doubled to $6.3 billion, with its cloud computing division, Amazon Web Services, generating $11.6 billion in revenue.

2. According to GlobeNewswire, Apple announced a 1% increase in revenue to $64.7 billion for the fourth quarter, driven by a surge in iPhone sales. The tech giant also reported a net profit of $12.67 billion, exceeding Wall Street estimates of $63.7 billion in revenue.

3. GlobeNewswire reveals that Google’s parent company, Alphabet Inc., experienced a 14% growth in revenue to $46.17 billion in the third quarter. The company’s advertising revenue reached $37.1 billion, while its cloud computing division, Google Cloud, generated $3.44 billion in revenue.

4. GlobeNewswire discloses that Facebook reported a 22% increase in revenue to $21.47 billion for the third quarter, fueled by a rise in online shopping during the pandemic. The social media giant also noted a 12% growth in daily active users, reaching 1.82 billion globally.: 2025-04-29 17:35:00

Sound Financial Bancorp, Inc. reported Q1 2025 net income of $1.2 million, down from $1.9 million in Q4 2024 and $770 thousand in Q1 2024. The Board declared a cash dividend of $0.19 per share. The company focused on deposit costs and loan origination, improving net interest margin by 12 basis points.

Despite expense increases, efforts in technology have reduced expenses from Q1 2024. Nonperforming loans increased, but most are well-secured. Total assets rose to $1.07 billion, with net interest income at $8.1 million. Loans decreased to $886.2 million, and deposits increased to $910.3 million. Noninterest income was $1.1 million.

Interest income declined due to lower loan balances and yields. Loans dropped to $12.6 million. Total nonperforming loans increased to $9.7 million, with noninterest expense at $7.9 million. The bank maintained “well-capitalized” status. Net interest income after the release of provision for credit losses was $8.2 million. Q4 2024 Noninterest income decreased $16 thousand, or 1.4%, to $1.1 million for the quarter ended March 31, 2025, compared to $1.1 million for the quarter ended December 31, 2024. The decrease was primarily due to lower debit card and interchange fees, as well as lower income from bank-owned life insurance. Service charges on deposits also decreased during the quarter. Noninterest income increased $3 thousand, or 0.3%, to $1.1 million for the quarter ended March 31, 2025, compared to $1.1 million for the quarter ended March 31, 2024. The increase was due to higher income from bank-owned life insurance, partially offset by lower debit card and interchange fees. Service charges on deposits were relatively flat compared to a year ago. In the first quarter of 2025, noninterest income decreased by $62 thousand compared to the previous quarter, mainly due to lower fair value of mortgage servicing rights. However, service charges and fee income increased by $65 thousand, and earnings from BOLI increased by $68 thousand. Loans sold in Q1 2025 totaled $2.0 million.

Compared to the first quarter of 2024, noninterest income in Q1 2025 increased by $2 thousand. The increase was driven by higher service charges and fee income, as well as earnings from BOLI. Mortgage servicing income, fair value adjustment on mortgage servicing rights, and net gain on sale of loans all decreased.

Noninterest expenses in Q1 2025 increased by $856 thousand compared to Q1 2024. The rise was primarily due to higher salaries and benefits, regulatory assessments, occupancy, and data processing expenses. However, operations expense decreased by $92 thousand, partially offsetting the overall increase in expenses.

Total assets at the end of Q1 2025 were $1.07 billion, up from $993.6 million at the end of Q4 2024. Cash and cash equivalents increased significantly to $131.5 million, primarily due to selling reciprocal deposits at the end of 2024. Investment securities slightly decreased, while loans held-for-portfolio decreased to $886.2 million. Nonperforming assets increased to $9.7 million at March 31, 2025, with NPAs to total assets at 0.91%. The allowance for credit losses on loans was 0.95%. Total deposits grew to $910.3 million, with noninterest-bearing deposits at $126.7 million. FHLB advances remained at $25.0 million and stockholders’ equity increased to $104.4 million.

Sound Financial Bancorp, Inc. reported an increase in nonperforming assets and total deposits, while maintaining stable FHLB advances and stockholders’ equity. The bank holding company’s allowance for credit losses on loans remained consistent, contributing to its financial stability and growth. Sound Community Bank continues to serve customers in Washington. Summary: The consolidated income statements for the quarter ended March 31, 2025, show interest income at $13,706, net interest income at $8,071, and noninterest income at $1,098. Total noninterest expense was $7,914, resulting in net income of $1,167. The company’s return on average assets was 0.45% and on average equity was 4.53%.

Summary: The consolidated balance sheets as of March 31, 2025, show total assets at $1,069,186, with cash and cash equivalents at $131,494, and loans held-for-portfolio at $886,226. Total liabilities were $964,755, with interest-bearing deposits at $783,660. Stockholders’ equity was $104,431, and book value per share was $40.70.

Summary: Key financial ratios for the quarter ended March 31, 2025, show an annualized return on average assets of 0.45%, annualized return on average equity of 4.53%, annualized net interest margin of 3.25%, and annualized efficiency ratio of 86.31%. Basic earnings per share were $0.45, and diluted earnings per share were $0.45.

Summary: Average balance, average yield earned, and average rate paid for the quarter ended March 31, 2025, show interest-earning assets totaling $1,005,745, with net interest income at $8,071. Interest-bearing liabilities totaled $803,050, resulting in a net interest margin of 3.25%. Noninterest-bearing deposits were $126,215.



Read more at GlobeNewswire

1. GlobeNewswire reports that Amazon’s third-quarter revenue increased by 37% to $96.15 billion, surpassing analysts’ expectations of $92.7 billion. The company’s net income also doubled to $6.3 billion, with its cloud computing division, Amazon Web Services, generating $11.6 billion in revenue.

2. According to GlobeNewswire, Apple announced a 1% increase in revenue to $64.7 billion for the fourth quarter, driven by a surge in iPhone sales. The tech giant also reported a net profit of $12.67 billion, exceeding Wall Street estimates of $63.7 billion in revenue.

3. GlobeNewswire reveals that Google’s parent company, Alphabet Inc., experienced a 14% growth in revenue to $46.17 billion in the third quarter. The company’s advertising revenue reached $37.1 billion, while its cloud computing division, Google Cloud, generated $3.44 billion in revenue.

4. GlobeNewswire discloses that Facebook reported a 22% increase in revenue to $21.47 billion for the third quarter, fueled by a rise in online shopping during the pandemic. The social media giant also noted a 12% growth in daily active users, reaching 1.82 billion globally.:: Sound Financial Bancorp, Inc. Q1 2025 Results