Welcome to our dedicated page for Sound Finl Bancorp news (Ticker: SFBC), a resource for investors and traders seeking the latest updates and insights on Sound Finl Bancorp stock.
Sound Financial Bancorp Inc (SFBC) provides trusted community banking services through Sound Community Bank in Seattle. This news hub offers investors and stakeholders centralized access to official announcements and financial developments.
Track SFBC's strategic initiatives through verified press releases covering earnings reports, loan portfolio updates, regulatory filings, and leadership changes. Our curated collection ensures timely updates on mortgage rate adjustments, commercial lending programs, and deposit service enhancements.
Key news categories include quarterly financial results, new branch openings, product launches for small businesses, and community reinvestment initiatives. All content is sourced directly from company filings and official communications to ensure accuracy.
Bookmark this page for streamlined monitoring of SFBC's operational milestones in consumer lending, risk management practices, and regional economic partnerships. Check regularly for updates that could impact your understanding of this community-focused financial institution.
Sound Financial Bancorp (NASDAQ:SFBC) announced an increase in its stock repurchase program from $2.0 million to $4.0 million, effective immediately. The expiration date for the program has also been extended to January 31, 2023. Since the program's inception, 49,700 shares have been repurchased at a total cost of $1.9 million, with $2.1 million still available. The timing and amount of shares repurchased will depend on market conditions and other factors. This strategic move reflects the Company’s commitment to enhancing shareholder value.
Sound Financial Bancorp (SFBC) reported net income of $1.6 million for Q2 2022, down from $1.7 million in Q1 2022 and $2.3 million in Q2 2021. Diluted earnings per share were $0.61. Total assets decreased 2.3% sequentially to $937 million. Loans held-for-portfolio rose 13.6% to $806.1 million, while noninterest income fell 33.4%. A cash dividend of $0.17 per share was declared, payable on August 23, 2022. Credit quality remains strong, with a provision for loan losses of $600,000. The net interest margin improved to 3.83%, reflecting higher interest income.
Sound Financial Bancorp (NASDAQ:SFBC) announced an extension of its stock repurchase program, allowing the repurchase of up to $2.0 million of common stock through October 29, 2022. This follows a prior plan that repurchased approximately $352,000 or 8,668 shares by April 25, 2022. The repurchase will be executed based on market conditions and does not mandate specific share buybacks. This move is aimed at enhancing shareholder value.
Sound Financial Bancorp (SFBC) reported a net income of $1.7 million for Q1 2022, down from $1.9 million in Q4 2021 and $2.5 million in Q1 2021. This equates to $0.65 diluted earnings per share. The company declared a dividend of $0.17 per share, payable on May 24, 2022. Total assets rose 4.3% to $958.9 million. Although net interest income decreased 1.3% quarter-over-quarter, the net interest margin improved to 3.49%, a 40 basis point increase year-over-year.
Sound Financial Bancorp (NASDAQ: SFBC) announced its annual shareholder meeting will take place on May 31, 2022, with a record date of March 31, 2022, for eligible voting shareholders. The company, headquartered in Seattle, operates Sound Community Bank with full-service branches across various locations. It is a Fannie Mae Approved Lender and Seller/Servicer, also having a Loan Production Office in Seattle. The press release includes forward-looking statements regarding potential risks such as COVID-19 impacts and economic fluctuations.
Sound Financial Bancorp (NASDAQ: SFBC) announced a regular quarterly cash dividend of $0.17 per share, along with a special cash dividend of $0.10 per share. Both dividends will be payable on February 24, 2022, for stockholders of record as of February 10, 2022. President and CEO Laurie Stewart emphasized the company's strong capital position, allowing for these dividends while supporting growth.
Sound Financial Bancorp (SFBC) reported a net income of $1.9 million for Q4 2021, marking a decline from $2.6 million in Q3 2021 and $3.5 million in Q4 2020. For the full year, net income rose to $9.2 million, slightly up from $8.9 million in 2020. The bank experienced organic loan growth of $18.8 million and a net interest margin of 3.53%. Total assets decreased 0.9% to $919.7 million, and total deposits fell 1.2% to $798.3 million. Nonperforming assets increased significantly by 66.6% from the previous quarter.
Sound Financial Bancorp (NASDAQ:SFBC) announced a new stock repurchase program effective October 29, 2021, following the expiration of its previous program. The new initiative allows for repurchases of up to $2.0 million of outstanding shares over a period of six months, depending on market conditions. The company plans to utilize a Rule 10b5-1 trading plan with Keefe, Bruyette & Woods to facilitate share repurchases during restricted periods. This program aims to enhance shareholder value by potentially increasing earnings per share (EPS) through reduced share count.
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