Sound Financial Q4 net income $1.2M, EPS $0.47; NIM shrinks to 3.04%; NPLs double

Sound Financial Bancorp, Inc.

2023-FY EPS reported $2.86

Net income $1.2M ($0.47 EPS) flat QoQ but down 59% from $2.9M ($1.12) a year ago.
Net interest margin fell to 3.04% from 3.38% QoQ and 4.05% a year ago; net interest income down 21.9% YoY.
Nonperforming loans surged 102% QoQ to $3.6M (0.40% of loans); two loans totaling $2.3M added to nonaccrual.
Loans held-for-portfolio grew 2.2% to $894.5M; deposits fell 4% to $826.5M; loans-to-deposits ratio 108%.
Board declared $0.19 dividend, payable Feb 21; restructured five positions due to subdued mortgage demand.

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 the quarter ended December 31, 2023 results: net income $1.2 million, EPS $0.47 diluted earnings per share.

Period: the quarter ended December 31, 2023
Net income: $1.2 million
EPS: $0.47 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 December 31, 2023, or $0.47 diluted earnings per share

View on SEC.gov

Browse all earnings releases →

Sound Financial Bancorp, Inc. filing history →

Source: SEC EDGAR

accession 0001541119-24-000003

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.