Sound Financial Bancorp | 8-K: FY2025 Q2 Revenue: USD 14.92 M
Revenue: As of FY2025 Q2, the actual value is USD 14.92 M.
EPS: As of FY2025 Q2, the actual value is USD 0.79.
EBIT: As of FY2025 Q2, the actual value is USD 2.54 M.
Net Income
Net income for the quarter ended June 30, 2025, was $2.1 million, compared to $1.2 million for the quarter ended March 31, 2025, and $795 thousand for the quarter ended June 30, 2024.
Net Interest Income
Net interest income increased by $1.2 million or 14.7% to $9.3 million for the quarter ended June 30, 2025, from $8.1 million for the quarter ended March 31, 2025, and increased $1.8 million or 24.3% from $7.4 million for the quarter ended June 30, 2024.
Net Interest Margin
The annualized net interest margin was 3.67% for the quarter ended June 30, 2025, compared to 3.25% for the quarter ended March 31, 2025, and 2.92% for the quarter ended June 30, 2024.
Loans and Deposits
Loans held-for-portfolio increased by $18.1 million or 2.0% to $904.3 million at June 30, 2025, compared to $886.2 million at March 31, 2025. Total deposits decreased by $10.9 million or 1.2% to $899.5 million at June 30, 2025, from $910.3 million at March 31, 2025.
Noninterest Income and Expense
Total noninterest income increased by $22 thousand or 2.0% to $1.1 million for the quarter ended June 30, 2025, compared to the quarter ended March 31, 2025. Total noninterest expense decreased by $249 thousand or 3.1% to $7.7 million for the quarter ended June 30, 2025, compared to the quarter ended March 31, 2025.
Credit Quality
Total nonperforming loans decreased by $6.3 million or 65.1% to $3.4 million at June 30, 2025, from $9.7 million at March 31, 2025.
Outlook / Guidance
The company expects the decline in funding costs, driven by earlier rate cuts by the Federal Reserve, to continue at a more gradual pace. Benefits from prior technology investments are expected to drive further efficiencies as the company grows.
