secwatch.observer — SEC 8-K summary
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Issuer:     Sound Financial Bancorp, Inc. (SFBC)
CIK:        0001541119
Form:       8-K
Filed at:   2024-01-29T23:59:59+00:00
Accession:  0001541119-24-000003
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1541119/000154111924000003/0001541119-24-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1541119/000154111924000003/sfbc-20240126.htm
  HTML page:      https://secwatch.observer/filing/0001541119-24-000003

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