Sound Financial Bancorp Inc 2025年季度报告

FORM10-Q (Mark One) or Commission File Number:001-35633 Sound Financial Bancorp, Inc. (Exact name of registrant as specified in its charter) None(Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmittedpursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company.See the definitions of “large accelerated filer,” accelerated filer,” “smaller If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate the number of shares outstanding of each of the registrant’s classes of common stock as of the latest practicable date. SOUND FINANCIAL BANCORP, INC.FORM 10-QTABLE OF CONTENTSPage NumberPART IFINANCIAL INFORMATIONItem 1.Financial StatementsCondensed Consolidated Balance Sheets as of March 31, 2025and December 31, 2024 (unaudited)3Condensed Consolidated Statements of Income for the Three Months Ended March 31, 2025 and 2024 (unaudited)4Condensed Consolidated Statements of Comprehensive Income for the Three Months Ended March 31, 2025 and2024 (unaudited)5Condensed Consolidated Statements of Stockholders’ Equity for the Three Months Ended March 31, 2025 and 2024(unaudited)6Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2025 and 2024(unaudited)7Notes to Condensed Consolidated Financial Statements (unaudited)8Item 2.Management's Discussion and Analysis of Financial Condition and Results of Operations27Item 3.Quantitative and Qualitative Disclosures About Market Risk41Item 4.Controls and Procedures41PART IIOTHER INFORMATIONItem 1.Legal Proceedings43Item 1A. Risk Factors43Item 2.Unregistered Sales of Equity Securities and Use of Proceeds43Item 3.Defaults Upon Senior Securities43Item 4.Mine Safety Disclosures43Item 5.Other Information43Item 6.Exhibits44SIGNATURES45 PART I - FINANCIAL INFORMATIONItem 1. Financial Statements SOUND FINANCIAL BANCORP, INC. AND SUBSIDIARYCondensed Consolidated Balance Sheets (unaudited)(In thousands, except share and per share amounts) SOUND FINANCIAL BANCORP, INC. AND SUBSIDIARYCondensed Consolidated Statements of Income(unaudited) SOUND FINANCIAL BANCORP, INC. AND SUBSIDIARYCondensed Consolidated Statements of Comprehensive Income(unaudited) SOUND FINANCIAL BANCORP, INC. AND SUBSIDIARYNotes to Condensed Consolidated Financial Statements(unaudited) Note 1 –Basis of Presentation The accompanying financial information is unaudited and has been prepared from the consolidated financial statements of SoundFinancial Bancorp, Inc, and its wholly owned subsidiaries, Sound Community Bank and Sound Community Insurance Agency,Inc.References in this document to “Sound Financial Bancorp” refer to Sound Financial Bancorp, Inc. and references to the “Bank”refer to Sound Community Bank. References to “we,” “us,” and “our” or the “Company” refer to Sound Financial Bancorp, the Bank These unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generallyaccepted in the United States (“U.S. GAAP”) for interim financial information and in accordance with the instructions to Form 10-Qand Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission (“SEC”).In the opinion ofmanagement, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation of the financialposition and results of operations for the periods presented have been included.Certain information and disclosures normally includedin financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the rules and regulations We have not made any changes in our significant accounting policies from those disclosed in the 2024 Form 10-K. Note 2 –Accounting Pronouncements Recently Issued or Adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07,Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which expands disclosures about a public entity’sreportable segments and requires more enhanced information about a reportable segment’s expenses