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Sound Financial Bancorp reported stronger Q2 2026 results, with net income of $2.5 million, or $0.98 diluted EPS, up from $1.6 million, or $0.61, in Q1 2026 and $2.1 million, or $0.79, a year earlier. Annualized return on average assets rose to 0.94% and return on average equity to 9.03%. The Board declared a quarterly cash dividend of $0.21 per share, payable August 21, 2026 to shareholders of record on August 7, 2026.
Net interest income increased to $9.5 million and net interest margin improved to 3.73%, helped by higher loan and investment yields, lower funding costs and the collection of a large prepayment penalty on a commercial loan. Noninterest income grew to $1.5 million, driven by favorable mortgage servicing rights valuation, higher bank-owned life insurance earnings and a dividend from an equity investment. Assets were $1.07 billion, loans held-for-portfolio were $892.0 million and deposits were $930.9 million, producing a 96.0% loans-to-deposits ratio and no FHLB advances outstanding. Credit quality weakened, with nonperforming assets rising to $8.1 million, or 0.76% of assets, though the allowance for credit losses on loans remained 0.94% of total loans and the bank continued to be categorized as well-capitalized.
Sound Financial Bancorp, Inc. director and President & CEO Laura Lee Stewart reported an indirect sale of 900 shares of common stock at $42.60 per share on behalf of the Stewart Charitable Remainder Trust. The filing shows she continues to hold meaningful equity through direct and indirect share ownership and multiple outstanding stock options.
Sound Financial Bancorp director Rogelio Riojas reported a major non-sale transfer of Common Stock. On 2026-06-10 he made a bona fide gift of 28,916 shares to his children for estate, tax and retirement planning purposes. After this gift he directly holds 7,427 Common shares and several stock options to buy additional shares at exercise prices between $32.46 and $42.85, expiring from 2029 through 2034, so he continues to maintain a meaningful equity interest in the company.
Sound Financial Bancorp, Inc. reported the results of its annual shareholder meeting held on May 26, 2026. Shareholders elected David S. Haddad, Jr. and Laura Lee Stewart as directors to terms expiring in 2029. Haddad received 1,611,647 votes for and 89,116 withheld, while Stewart received 1,350,298 votes for and 350,465 withheld, with 504,228 broker non-votes for each nominee.
Shareholders also approved, on an advisory (non-binding) basis, the Company’s executive compensation, with 1,301,081 votes for, 119,353 against, 280,329 abstentions and 504,228 broker non-votes. In addition, shareholders ratified the appointment of Baker Tilly, LLP as independent registered public accounting firm for the year ending December 31, 2026, with 2,135,877 votes for, 66,862 against and 2,252 abstentions.
Sound Financial Bancorp, Inc. reported higher profitability for the quarter ended March 31, 2026. Net income rose to $1.6 million from $1.2 million a year earlier, and diluted earnings per share increased to $0.61 from $0.45, driven mainly by stronger net interest income.
Total assets reached $1.11 billion, with net loans held-for-portfolio up 1.8% to $912.9 million, led by a 43.0% increase in construction and land loans. Deposits grew to $968.5 million, while uninsured deposits were $197.9 million, or 20.4% of total deposits.
Net interest margin improved to 3.51% from 3.25% as loan yields increased. The allowance for credit losses on loans was $8.6 million, or 0.93% of total loans, with net charge-offs near zero. Nonperforming assets rose to $7.5 million, or 0.67% of total assets, mainly from new nonaccrual real estate credits.
The company deployed $5.0 million into a CRA-eligible workforce housing equity investment and modestly reduced mortgage servicing rights to $4.1 million. It also announced a quarterly cash dividend of $0.21 per share and moved to close its Tacoma branch as part of ongoing consolidation.
Sound Financial Bancorp, Inc. reported Q1 2026 net income of $1.6 million, or $0.61 diluted EPS, down from $2.2 million, or $0.87, in Q4 2025 but up from $1.2 million, or $0.45, a year earlier. Net interest income rose to $9.0 million, and net interest margin improved to 3.49% from 3.36% in Q4 2025 and 3.25% in Q1 2025, as loan growth and lower funding costs supported earnings capacity.
Total assets reached $1.11 billion and loans held-for-portfolio were $921.5 million, while deposits grew to $968.5 million, up 6.4% year-over-year. Credit quality softened somewhat, with nonperforming loans increasing to $7.4 million, or 0.80% of total loans, though the allowance for credit losses on loans remained at 0.94% of total loans and the Bank stayed "well-capitalized."
The Board declared a quarterly cash dividend of $0.21 per share, payable May 26, 2026, to shareholders of record on May 11, 2026. The Company also deployed $5.0 million into a Community Reinvestment Act-eligible workforce housing equity investment and plans to close its Tacoma branch on May 1, 2026 as part of strategic consolidation.
Sound Financial Bancorp, Inc. is asking shareholders to vote on three proposals at its 2026 annual meeting, to be held May 26, 2026, at 10:00 a.m. Pacific Time at its Seattle executive offices.
Shareholders will elect two directors for three-year terms, cast an advisory vote on executive compensation, and ratify Baker Tilly US, LLP as independent registered public accounting firm for 2026. Holders of record of common stock at the close of business on March 31, 2026, when 2,568,043 shares were outstanding, may vote. The Stilwell Group owns 16.0% of shares, the ESOP 7.3%, and AllianceBernstein 6.1%, while directors and executive officers as a group own 12.3%.
In 2025, CEO Laura Lee Stewart received total compensation of $884,379, including an annual bonus equal to 49.8% of base salary under the company’s performance-based plan. Net income was $7.2 million in 2025, $4.6 million in 2024, and $7.4 million in 2023, and the say-on-pay vote in 2025 passed with approximately 97.8% support.
Sound Financial Bancorp President and CEO Laura Lee Stewart reported an indirect open-market sale of 900 shares of Common Stock on March 31, 2026, executed at $44.13 per share. The sale was made by the trustee of the Stewart Charitable Remainder Trust under pre-set instructions pursuant to Rule 10b5-1(c).
After this transaction, the trust holds 9,900 shares, while Stewart also has 49,602 Common shares held directly, and additional indirect holdings of 14,409 shares through an ESOP and 18,906 shares through a 401(k). She also retains several stock option awards covering underlying Common Stock with exercise prices between the mid-$30s and about $40 per share and expirations extending from 2029 to 2034.
Sound Financial Bancorp, Inc. reports a community banking profile centered on the Seattle and Olympic Peninsula markets, with total consolidated assets of $1.1 billion at December 31, 2025. The balance sheet includes $905.5 million of loans held-for-portfolio, deposits of $948.9 million and stockholders’ equity of $109.4 million.
The loan portfolio is diversified across real estate and consumer credit, led by commercial and multifamily real estate at $409.7 million (45.1% of loans), one-to-four family mortgages at $253.8 million (28.1%) and construction and land at $50.3 million (5.5%). Consumer lending totals $147.0 million (16.1%), heavily weighted to floating homes and manufactured homes.
Asset quality metrics show nonaccrual loans of $5.8 million, or 0.64% of total loans, and total nonperforming assets of $6.1 million, or 0.56% of total assets. The allowance for credit losses on loans is $8.6 million, equal to 0.95% of total loans and 148.82% of nonaccrual loans, with net charge-offs of $106 thousand for 2025.