secwatch.observer — SEC 8-K summary
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Issuer:     Sound Financial Bancorp, Inc. (SFBC)
CIK:        0001541119
Form:       8-K
Filed at:   2024-07-29T23:59:59+00:00
Accession:  0001541119-24-000043
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1541119/000154111924000043/0001541119-24-000043-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1541119/000154111924000043/sfbc-20240729.htm
  HTML page:      https://secwatch.observer/filing/0001541119-24-000043

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