SFBC - Sound Financial Bancorp GAAP EPS of $0.83 revenue of $10.34M

2023-04-25 03:03:55 ET

• Sound Financial Bancorp press release ( NASDAQ: SFBC ): Q1 GAAP EPS of $0.83.
• Revenue of $10.34M (+13.1% Y/Y).
• Net interest margin annualized, was 4.01% for the quarter ended March 31, 2023, compared to 4.05% for the quarter ended December 31, 2022 and 3.49% for the quarter ended March 31, 2022.
• A $10K provision for credit losses was recorded for the quarter ended March 31, 2023, compared to a $78K provision for credit losses for the quarter ended December 31, 2022 and a $140K provision for credit losses for the quarter ended March 31, 2022.
• At March 31, 2023, the allowance for credit losses to total nonperforming loans and to total loans was 659.97% and 0.98%, respectively.
• Total deposits increased $32.9 million or 4.1% to $841.6 million at March 31, 2023, from $808.8 million at December 31, 2022, and increased $5.6 million or 0.7% from $836.1 million at March 31, 2022.
• The Bank continued to maintain capital levels in excess of regulatory requirements and was categorized as "well-capitalized" at March 31, 2023.

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