Sound Financial Bancorp Q2 net income $1.6M ($0.61 EPS), down 30% YoY; loans grow 13.6% QoQ

Sound Financial Bancorp, Inc.

2022-Q2 EPS reported $1.26

Net income of $1.6M ($0.61 diluted EPS) vs $2.3M ($0.85) in Q2 2021 and $1.7M ($0.65) in Q1 2022.
Loans held-for-portfolio increased $96.6M (13.6%) QoQ to $806.1M; net interest margin rose to 3.83% from 3.49%.
Provision for loan losses was $600K, up from $125K in Q1 2022, driven by portfolio growth and economic uncertainty.
Board declared $0.17 per share cash dividend, payable Aug 23, 2022 to holders of record Aug 9, 2022.
Net gain on sale of loans fell to $84K from $1.1M YoY, reflecting lower refinance activity and mortgage volumes.

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