Sound Finl Bancorp Inc Stock Price, News & Analysis

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.

Sound Financial Bancorp reported a net income of $2.6 million for Q3 2021, marking a 15.2% increase from the previous quarter. Earnings per share rose to $0.98, up from $0.85 in Q2 2021. The net interest income increased by 13.1% to $8.3 million, driven by organic portfolio growth. Total assets reached $928.1 million, a 0.5% increase from the previous quarter. A cash dividend of $0.17 per share was declared, payable on November 24, 2021. The bank's capital levels remain strong, categorized as "well-capitalized."

Sound Community Bank's President and CEO, Laurie Stewart, has been recognized as one of the 2021 Most Powerful Women in Banking by American Banker. This accolade highlights her commitment to diversity, equity, and inclusion in financial services while showcasing her leadership throughout a challenging economic landscape. Under her guidance, the bank transitioned from a $38 million credit union to a nearly $1 billion commercial bank, marking over 30 years of industry impact. Stewart's numerous accolades include previous recognitions by American Banker and leadership roles in prominent banking associations.

Sound Financial Bancorp (SFBC) reported a net income of $2.3 million for Q2 2021, with diluted earnings per share at $0.85. This is a slight decrease from $2.5 million in Q1 2021 but an increase from $2.1 million in Q2 2020. The Company declared a cash dividend of $0.17 per share, payable on August 24, 2021. Total assets were $923.2 million, down 1.4% from the previous quarter. Loans increased by 4.1% to $639.6 million. However, total deposits decreased by 1.5% to $804.7 million. The net interest income grew by 12.5% to $7.4 million.

Sound Community Bank has appointed Jennifer L. Mallon as the new Chief Accounting Officer, effective July 27, 2021. With over 15 years of experience in financial services and community banking, Mallon has previously served as Senior Vice President of Financial Reporting at Banc of California. She specializes in streamlining accounting processes and enhancing efficiency through automation. Mallon holds degrees from California Polytechnic State University and University of Southern California, along with a CPA license. Sound Community Bank operates primarily in the Seattle area.

Sound Community Bank has appointed Jon Kacirk as Senior Vice President and Director of Banking Operations. Kacirk, who has a rich banking background starting from a teller, is responsible for overseeing Retail Branch, Deposit, and Payment Operations. Previously, he served as Vice President and Operations Manager at a large commercial bank. Kacirk holds a degree from Pacific Coast Banking School and an Executive Leadership certificate from the University of Washington. Sound Community Bank operates in several counties in Washington and is a subsidiary of Sound Financial Bancorp (NASDAQ: SFBC).

Sound Community Bank has appointed Brandon Lance as Vice President and Senior Credit Officer and Jay Dogan as Commercial Loan Officer. Lance, with over 17 years in banking, specializes in commercial lending and credit risk management. Dogan brings 20 years of experience in real estate lending. Sound Community Bank operates throughout the Puget Sound region, offering personal and business banking services, and is a subsidiary of Sound Financial Bancorp (NASDAQ: SFBC).