Sound Financial Q3 net income drops 59% to $1.2M; NIM compresses to 3.38%

Sound Financial Bancorp, Inc.

2023-Q3 EPS reported $2.39

Diluted EPS of $0.45 vs $1.11 in Q2 2023 and $0.97 in Q3 2022.
Net interest income $8.2M, down 6.6% QoQ and 14.9% YoY; NIM fell to 3.38% from 3.71%.
Loans held-for-portfolio grew 2.3% QoQ to $875.4M; deposits rose 4.7% to $860.9M.
Noninterest income fell 42.8% QoQ to $1.1M, partly due to prior quarter's BOLI death benefit.
Declared $0.19/share dividend, payable Nov 22, 2023, unchanged from prior quarter.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Sound Financial Bancorp, Inc. reported third quarter ended September 30, 2023 results: net income $1.2 million, EPS $0.45 diluted earnings per share.

Period: third quarter ended September 30, 2023
Net income: $1.2 million
EPS: $0.45 diluted earnings per share
Result: reported results

Exact text from the filing

Sound Financial Bancorp, Inc. (the "Company") (Nasdaq: SFBC), the holding company for Sound Community Bank (the "Bank"), today reported net income of $1.2 million for the quarter ended September 30, 2023, or $0.45 diluted earnings per share

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Source: SEC EDGAR

accession 0001541119-23-000038

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