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. reports developments tied to its role as the bank holding company for Sound Community Bank, a Seattle-based community bank serving personal and business banking customers in Washington. Company news commonly covers community banking services, financial education initiatives, leadership and governance updates, industry recognition, and cash dividends on common stock.
Recurring updates also describe Sound Community Bank's presence across the greater Puget Sound region, including banking offices in King, Pierce, Snohomish, Jefferson, and Clallam counties, as well as its focus on straightforward financial services for individuals, businesses, and local communities.
Sound Financial Bancorp, Inc. (Nasdaq: SFBC) has declared a regular quarterly cash dividend of $0.17 per share and a special cash dividend of $0.10 per share. These dividends are set to be paid on February 24, 2021 to stockholders of record as of February 10, 2021. The company's strong capital position supports this decision, reflecting confidence in their financial performance despite ongoing challenges.
Sound Financial Bancorp (Nasdaq: SFBC) reported a net income of $3.5 million for Q4 2020, translating to $1.34 diluted earnings per share. This reflects an increase from $2.3 million or $0.90 per share in Q3 2020 and $1.9 million or $0.72 per share in Q4 2019. The Board of Directors declared a quarterly cash dividend of $0.17 per share and a special cash dividend of $0.10 per share, payable on February 24, 2021, to shareholders on record by February 10, 2021.
Sound Financial Bancorp reported a net income of $2.3 million for Q3 2020, reflecting an increase from $2.1 million in Q2 2020 and $1.5 million in Q3 2019. Diluted EPS rose to $0.90. The Board declared a $0.15 cash dividend per share, payable on November 24, 2020. Total assets decreased by 0.5% to $867.4 million, while deposits increased by 7.9% to $748.9 million. The company issued $12 million in subordinated debt, supporting capital levels categorized as "well-capitalized." Net interest income fell 3.4% to $6.7 million.
Sound Financial Bancorp (NASDAQ:SFBC) announced a stock repurchase program allowing up to $2 million in buybacks over six months, starting October 28, 2020. The decision reflects the Board's confidence in the company’s current stock price and strong capital position of its subsidiary, Sound Community Bank. A trading plan with Keefe, Bruyette & Woods will facilitate these repurchases. The number of shares bought will depend on market conditions and is not obligatory to a specific amount.
Sound Community Bank's Laurie Stewart has been recognized as one of the 2020 Most Powerful Women in Banking by American Banker, marking her sixth acknowledgment since 2011. Stewart, with over 30 years in banking, has led the bank's transformation from a credit union to a commercial bank with assets exceeding $871 million. This year’s honorees were celebrated for their leadership amid challenges in the industry. The full list of honorees is available on American Banker’s website, and a virtual event will showcase their insights and experiences.
On September 18, 2020, Sound Financial Bancorp (Nasdaq: SFBC) announced the completion of a $12.0 million private placement of 5.25% Fixed-to-Floating Rate Subordinated Notes due 2030. The notes will initially bear interest at 5.25% until October 2025, then reset to a floating rate. The proceeds will be used for general corporate purposes and the notes qualify as Tier 2 capital for regulatory requirements. Egan-Jones rated the notes as investment grade (BBB). The issuance was facilitated by Keefe, Bruyette & Woods as the placement agent.
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Sound Financial Bancorp (NASDAQ: SFBC) reported a net income of $2.1 million for the second quarter of 2020, equating to $0.82 diluted earnings per share, a significant increase from $1.0 million or $0.38 per share in the prior quarter. Year-over-year, the earnings improved from $1.8 million or $0.71 per share. The Board of Directors declared a cash dividend of $0.15 per share, payable on August 19, 2020, to stockholders of record by August 5, 2020.
Sound Community Bank has appointed Charles (Chuck) L. Turner as the new Senior Vice President and Chief Credit Officer. With 40 years of community banking experience, Turner has a strong background, including roles as a loan officer and branch manager. He previously served as Executive Vice President and Chief Credit Officer at Liberty Bank. Turner is a University of Washington graduate and has been active in community service organizations. Sound Community Bank operates in multiple counties in Washington and is a subsidiary of Sound Financial Bancorp (NASDAQ: SFBC).
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