---
schema_version: "secwatch.filing_event.v1"
accession: "0001541119-23-000038"
form_type: "8-K"
ticker: "SFBC"
cik: "0001541119"
company_name: "Sound Financial Bancorp, Inc."
filed_at: "2023-10-25T23:59:59+00:00"
generated_at: "2026-06-09T10:34:25.885019+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001541119-23-000038
- form_type: 8-K
- ticker: SFBC
- cik: 0001541119
- company_name: Sound Financial Bancorp, Inc.
- filed_at: 2023-10-25T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1541119/000154111923000038/0001541119-23-000038-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1541119/000154111923000038/sfbc-20231024.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001541119-23-000038
- JSON: https://secwatch.observer/filing/0001541119-23-000038.json
- Plain text: https://secwatch.observer/filing/0001541119-23-000038.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1541119/000154111923000038/0001541119-23-000038-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.