Sound Finl Bancorp Inc Stock Price, News & Analysis

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).

Sound Financial Bancorp, the parent company of Sound Community Bank, announced its ranking as 197^th on American Banker's list of Top 200 Publicly Traded Community Banks. This ranking is determined by a three-year average return on equity as of December 31, 2020. CEO Laurie Stewart highlights the challenges and opportunities faced in 2020, praising the Bank's resilience and commitment to clients and communities. As of March 31, 2021, the Bank reported total assets of $936.7 million.

Sound Community Bank has been recognized as the top corporate philanthropist among small-sized companies by the Puget Sound Business Journal. This honor acknowledges the bank's significant contributions of both time and money to local non-profit organizations. The awards were presented at the annual Corporate Citizenship Awards on May 20, 2021. Sound Community Bank operates across the greater Puget Sound region, providing personal and business banking services.

Sound Community Bank has appointed four new Residential Loan Officers: Shanna Frazer, Ken Wenglewski, Casey Hendrickson, and Saundra Gregory. Frazer and Wenglewski will serve at the University Place Branch, with Frazer bringing over 8 years and Wenglewski over 20 years of experience in the financial industry. Hendrickson and Gregory join the Madison Park Home Loan Office in Seattle, with Hendrickson having over 10 years of sales management experience and Gregory over 20 years in finance. Sound Community Bank operates throughout the greater Puget Sound region and is a subsidiary of Sound Financial Bancorp (NASDAQ: SFBC).

Sound Financial Bancorp (NASDAQ:SFBC) announced a new stock repurchase program effective April 29, 2021, allowing for the repurchase of up to $2.0 million of its outstanding shares. This follows the expiration of the previous program and is set to last up to six months or until completion. The Board authorized management to enter a Rule 10b5-1 trading plan with Keefe, Bruyette & Woods to facilitate this process, enabling trades even during blackouts. The timing and number of shares repurchased will depend on market conditions and other factors.