Sound Financial Q1 net income falls to $770K; NPLs jump 155% Q/Q

Sound Financial Bancorp, Inc.

2024-Q1 EPS reported $0.30

Net income of $770K ($0.30 diluted EPS) vs $1.2M ($0.47) in Q4 2023 and $2.2M ($0.83) in Q1 2023.
Net interest margin compressed to 2.95% from 4.01% a year ago; net interest income down 20.4% YoY.
Nonperforming loans rose to $9.1M (1.01% of loans) from $3.6M at year-end 2023, driven by a few real estate loans.
Board declared $0.19 per share cash dividend, payable May 22, 2024 to holders of record May 8, 2024.

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 0.9

Sound Financial Bancorp, Inc. reported the quarter ended March 31, 2024 results: net income net income of $770 thousand, EPS $0.30 diluted earnings per share.

Period: the quarter ended March 31, 2024
Net income: net income of $770 thousand
EPS: $0.30 diluted earnings per share
Result: reported results

Exact text from the filing

On April 29, 2024, Sound Financial Bancorp, Inc. (the “Company”), (Nasdaq: SFBC), the holding company of Sound Community Bank, issued its earnings press release announcing financial results for the first quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0001541119-24-000035

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