Sound Financial Q2 net income $0.31 EPS, down 72% YoY; NIM narrows to 2.92%

Sound Financial Bancorp, Inc.

2024-Q2 EPS reported $0.61

Net income $795k ($0.31 diluted EPS) vs $2.9M ($1.11) in Q2 2023, down 72% YoY.
Net interest margin compressed to 2.92% from 3.71% a year ago; net interest income fell 14.8% YoY.
Nonperforming loans rose to $8.9M (1.00% of loans) vs $1.5M a year ago; NPAs decreased QoQ to $9.0M.
Dividend declared $0.19 per share, payable Aug 23 to holders of record Aug 9.
Deposit mix shifted: noninterest-bearing deposits down 21.2% YoY; loans-to-deposits ratio 98%.

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