Sound Financial Bancorp, Inc. (SFBC) 10-Year Financial Performance & Capital Metrics

SFBC • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingWest Coast Community Banks

AboutSound Financial Bancorp, Inc. operates as the bank holding company for Sound Community Bank that provides banking and other financial services for consumers and businesses. It accepts various deposits products comprising savings, money market deposit, NOW, and demand accounts, as well as certificates of deposit. The company also offers loans secured by first and second mortgages on one-to four-family residences; home equity loans, including fixed-rate loans and variable-rate lines of credit; commercial and multifamily real estate loans; construction loans secured by single-family residences, and commercial and multifamily real estate; land loans; commercial business loans to finance commercial vehicles and equipment, as well as loans secured by accounts receivable and/or inventory; and secured and unsecured consumer loans, such as new and used manufactured homes, floating homes, automobiles, boats, and recreational vehicle loans, and loans secured by deposit accounts. It operates eight branch offices, including four branches in Seattle Metropolitan Statistical Area, three branches in Clallam County, and one branch in Jefferson County; and a loan production office in the Madison Park neighborhood of Seattle. The company was founded in 1953 and is headquartered in Seattle, Washington.Show more

Net Interest Income $31M -8.4%
Total Revenue $62M +11.6%
Net Income $5M -37.6%
Return on Equity 4.54% -39.4%
Net Interest Margin 3.12% -8.3%
Efficiency Ratio 48.6% -10.3%
ROA 0.47% -38.2%
Equity / Assets 10.43% +3.2%
Book Value per Share 40.40 -4.5%
Tangible BV/Share 38.54 -4.5%
Debt/Equity 0.39 -30.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 48.6% efficiency ratio
✓Well capitalized: 10.4% equity/assets
✓Trading at only 1.1x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y9.29%

5Y9.98%

3Y14.61%

TTM-

Profit (Net Income) CAGR

10Y0.91%

5Y-7.03%

3Y-20.27%

TTM30.79%

EPS CAGR

10Y1%

5Y-7.02%

3Y-19.8%

TTM72.55%

ROCE

10Y Avg7.28%

5Y Avg7.86%

3Y Avg6.34%

Latest3.67%

Peer Comparison

West Coast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BCALSouthern California Bancorp	597.65M	18.49	84.05	45.45%	2.94%	11.23%	8.32%	0.17
CWBCCommunity West Bancshares	433.22M	22.61	50.24	51.89%	4.67%	6.95%	3.96%	0.56
GBCIGlacier Bancorp, Inc.	6.1B	46.91	27.92	11.64%	15.27%	6.57%	3.44%	1.18
GBFHGBank Financial Holdings Inc.	460.32M	32.02	23.04	2%	30.99%	11.8%	5.71%	0.22
BOHBank of Hawaii Corporation	2.81B	70.51	20.38	6.6%	14.57%	10.28%	6.02%	0.45
HFWAHeritage Financial Corporation	828.88M	24.41	19.69	4.64%	13.64%	6.33%	7.36%	0.47
HTBKHeritage Commerce Corp	763.59M	12.45	18.86	3.35%	16.12%	6.19%	4.89%	0.06
NRIMNorthrim BanCorp, Inc.	615M	27.84	16.77	23.77%	18.87%	19.99%		0.15

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	19.7M	22.13M	24.08M	27.81M	26.96M	27.49M	29.92M	35.3M	33.85M	31M
NII Growth %	0.04%	0.12%	0.09%	0.15%	-0.03%	0.02%	0.09%	0.18%	-0.04%	-0.08%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	22.45M	24.98M	27.45M	32.95M	34.58M	34.94M	33.87M	39.8M	50.61M	57.37M
Interest Expense	2.75M	2.92M	3.37M	5.36M	7.62M	7.45M	3.95M	4.5M	16.76M	26.37M
Loan Loss Provision	400K	454K	500K	525K	-125K	925K	425K	1.16M	-273K	-120K
Non-Interest Income+	4.95M	5.18M	3.75M	4.42M	3.99M	7.44M	7.34M	4.58M	4.99M	4.69M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	27.41M	30.16M	31.2M	37.37M	38.57M	42.38M	41.22M	44.38M	55.6M	62.06M
Revenue Growth %	0.07%	0.1%	0.03%	0.2%	0.03%	0.1%	-0.03%	0.08%	0.25%	0.12%
Non-Interest Expense	17.17M	18.71M	19.14M	22.74M	22.75M	22.67M	25.41M	27.84M	30.12M	30.16M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	7.08M	8.07M	8.19M	8.74M	8.33M	11.33M	11.43M	10.88M	9M	5.65M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.08%	0.14%	0.01%	0.07%	-0.05%	0.36%	0.01%	-0.05%	-0.17%	-0.37%
Pretax Income+	7.08M	8.07M	8.19M	8.74M	8.33M	11.33M	11.43M	10.88M	9M	5.65M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	2.29M	2.69M	3.07M	1.71M	1.65M	2.39M	2.27M	2.07M	1.56M	1.01M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	4.79M	5.38M	5.13M	7.04M	6.68M	8.94M	9.16M	8.8M	7.44M	4.64M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.13%	0.12%	-0.05%	0.37%	-0.05%	0.34%	0.02%	-0.04%	-0.16%	-0.38%
Net Income (Continuing)	4.79M	5.38M	5.13M	7.04M	6.68M	8.94M	9.16M	8.8M	7.44M	4.64M
EPS (Diluted)+	1.86	2.09	2.00	2.74	2.59	3.45	3.49	3.37	2.86	1.80
EPS Growth %	0.14%	0.12%	-0.04%	0.37%	-0.05%	0.33%	0.01%	-0.03%	-0.15%	-0.37%
EPS (Basic)	1.92	2.16	2.05	2.82	2.64	3.49	3.50	3.41	2.89	1.81
Diluted Shares Outstanding	2.54M	2.57M	2.57M	2.57M	2.58M	2.59M	2.63M	2.58M	2.38M	2.57M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	48.26M	54.58M	60.68M	61.81M	55.77M	193.83M	183.59M	57.84M	49.69M	43.64M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	463.62M	502.65M	550.57M	619.9M	624.62M	629.18M	691.61M	870.79M	896.77M	902.08M
Investments Growth %	0.06%	0.08%	0.1%	0.13%	0.01%	0.01%	0.1%	0.26%	0.03%	0.01%
Long-Term Investments	456.92M	496.05M	545.13M	614.94M	615.31M	618.97M	683.19M	860.58M	888.49M	894.29M
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	3.73M	3.56M	3.43M	3.41M	3.24M	3.78M	4.27M	4.69M	4.63M	4.77M
PP&E (Net)	5.33M	5.55M	7.39M	7.04M	14.41M	12.99M	11.63M	10.62M	9.74M	8.42M
Other Assets	18.2M	20.22M	21.2M	22.28M	19.61M	19.36M	26.38M	29.34M	30.94M	31.25M
Total Current Assets	56.57M	63M	68.09M	69.05M	67.28M	206.3M	194.23M	71.13M	61.43M	54.9M
Total Non-Current Assets	484.19M	525.38M	577.15M	647.68M	652.57M	655.1M	725.47M	905.23M	933.79M	938.73M
Total Assets+	540.76M	588.38M	645.24M	716.74M	719.85M	861.4M	919.69M	976.35M	995.22M	993.63M
Asset Growth %	0.09%	0.09%	0.1%	0.11%	0%	0.2%	0.07%	0.06%	0.02%	-0%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0%
Accounts Payable	72K	73K	77K	137K	226K	369K	200K	395K	817K	765K
Total Debt+	40.44M	54.79M	59M	84M	15.51M	18.73M	17.88M	60.12M	56.54M	40.77M
Net Debt	-7.83M	210K	-1.68M	22.19M	-40.26M	-175.1M	-165.71M	2.29M	6.85M	-2.87M
Long-Term Debt	40.44M	54.79M	59M	84M	7.5M	11.59M	11.63M	11.68M	36.72M	36.76M
Short-Term Debt	0	0	0	0	0	0	0	43M	15M	0
Other Liabilities	5.71M	5.51M	6.61M	7.37M	9.67M	8.84M	9.94M	9.36M	10.67M	10.63M
Total Current Liabilities	440.1M	467.8M	514.48M	553.74M	616.94M	748.35M	798.52M	852.16M	842.36M	838.56M
Total Non-Current Liabilities	46.14M	60.3M	65.61M	91.37M	25.18M	27.57M	27.81M	26.49M	52.21M	51.4M
Total Liabilities	486.24M	528.11M	580.08M	645.11M	642.13M	775.92M	826.33M	878.65M	894.57M	889.97M
Total Equity+	54.52M	60.27M	65.16M	71.63M	77.73M	85.48M	93.36M	97.7M	100.65M	103.67M
Equity Growth %	0.08%	0.11%	0.08%	0.1%	0.09%	0.1%	0.09%	0.05%	0.03%	0.03%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.09%	0.09%	0.08%	0.1%	0.09%	0.11%	0.1%	0.09%	0.08%	0.05%
Book Value per Share	21.42	23.48	25.37	27.90	30.09	32.97	35.54	37.82	42.30	40.40
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	25K	25K	25K	25K	25K	25K	26K	26K	25K	25K
Additional Paid-in Capital	23M	23.98M	24.99M	25.66M	26.34M	27.11M	27.96M	28M	27.99M	28.41M
Retained Earnings	32.24M	36.87M	40.49M	46.16M	51.41M	58.23M	65.24M	70.79M	73.63M	76.27M
Accumulated OCI	164K	81K	109K	114K	175K	240K	139K	-1.12M	-988K	-1.04M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	3.75M	7.15M	6.82M	10.32M	11.06M	-484K	19.07M	10.05M	6.89M	2.93M
Operating CF Growth %	-0.45%	0.91%	-0.05%	0.51%	0.07%	-1.04%	40.41%	-0.47%	-0.32%	-0.57%
Net Income	4.79M	5.38M	5.13M	7.04M	6.68M	8.94M	9.16M	8.8M	7.44M	4.64M
Depreciation & Amortization	620K	793K	943K	989K	1.52M	1.82M	1.59M	1.6M	1.65M	1.58M
Deferred Taxes	-359K	-23K	103K	123K	349K	218K	155K	-469K	-403K	-123K
Other Non-Cash Items	-1.11M	1.05M	-506K	937K	-631K	-11.22M	8.14M	1.96M	-1.91M	-1.62M
Working Capital Changes	-612K	-578K	636K	964K	2.88M	-580K	-329K	-2.31M	-346K	-1.94M
Cash from Investing+	-25.63M	-42.9M	-36.11M	-71.5M	-5.79M	4.5M	-78.11M	-183.79M	-26.32M	-3.94M
Purchase of Investments	0	-1.36M	0	0	-5.17M	-8.89M	-1.95M	-6.61M	0	0
Sale/Maturity of Investments	1000K	1000K	1000K	416K	845K	1000K	1000K	999K	1000K	420K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	13.67M	0	0	0	0	0	0	0
Other Investing	-29.18M	-41.81M	-48.52M	-71.27M	-811K	5.88M	-79.46M	-177.78M	-27.96M	-4.29M
Cash from Financing+	40.85M	42.07M	35.39M	62.3M	-11.32M	134.05M	48.8M	47.98M	11.29M	-5.04M
Dividends Paid	-574K	-745K	-1.5M	-1.37M	-1.43M	-2.07M	-2.04M	-2.03M	-1.91M	-1.95M
Share Repurchases	-1.26M	0	0	0	0	-73K	-152K	-1.87M	-2.4M	-283K
Stock Issued	0	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	1000K	1000K	1000K	-1000K	1000K	0	1000K	-1000K	-1000K
Other Financing	32.83M	28.46M	32.91M	38.67M	66.62M	131.83M	50.99M	8.88M	18.61M	12.2M
Net Change in Cash+	18.98M	6.32M	6.1M	1.13M	-6.04M	138.06M	-10.24M	-125.75M	-8.15M	-6.05M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	29.29M	48.26M	54.58M	60.68M	61.81M	55.77M	193.83M	183.59M	57.84M	49.69M
Cash at End	48.26M	54.58M	60.68M	61.81M	55.77M	193.83M	183.59M	57.84M	49.69M	43.64M
Interest Paid	2.76M	2.92M	3.36M	5.3M	7.53M	7.31M	4.12M	4.3M	16.34M	26.42M
Income Taxes Paid	2.86M	3.04M	2.46M	2.67M	915K	1.96M	2.9M	2.01M	2.4M	831K
Free Cash Flow+	2.64M	6.14M	4.35M	9.68M	10.41M	-891K	18.85M	9.66M	6.44M	2.86M
FCF Growth %	-0.07%	1.33%	-0.29%	1.23%	0.07%	-1.09%	22.15%	-0.49%	-0.33%	-0.56%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	9.11%	9.37%	8.17%	10.29%	8.94%	10.95%	10.24%	9.22%	7.5%	4.54%
Return on Assets (ROA)	0.92%	0.95%	0.83%	1.03%	0.93%	1.13%	1.03%	0.93%	0.75%	0.47%
Net Interest Margin	3.64%	3.76%	3.73%	3.88%	3.75%	3.19%	3.25%	3.61%	3.4%	3.12%
Efficiency Ratio	62.67%	62.05%	61.34%	60.85%	58.98%	53.5%	61.65%	62.75%	54.16%	48.6%
Equity / Assets	10.08%	10.24%	10.1%	9.99%	10.8%	9.92%	10.15%	10.01%	10.11%	10.43%
Book Value / Share	21.42	23.48	25.37	27.9	30.09	32.97	35.54	37.82	42.3	40.4
NII Growth	4.06%	12.33%	8.81%	15.47%	-3.03%	1.94%	8.86%	17.96%	-4.09%	-8.41%
Dividend Payout	11.98%	13.85%	29.37%	19.42%	21.47%	23.18%	22.27%	23.07%	25.72%	41.98%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Debit/ATM Interchange Fees	927K	982K	1.02M	1.32M	1.39M	1.39M	1.38M
Debit/ATM Interchange Fees Growth	-	5.93%	3.46%	30.12%	5.45%	-0.43%	-0.58%
Transaction-based and Overdraft Service Charges	481K	447K	327K	356K	446K	511K	482K
Transaction-based and Overdraft Service Charges Growth	-	-7.07%	-26.85%	8.87%	25.28%	14.57%	-5.68%
Account Maintenance Fees	192K	199K	274K	311K	324K	280K	317K
Account Maintenance Fees Growth	-	3.65%	37.69%	13.50%	4.18%	-13.58%	13.21%
Credit Card and Interchange Fees	40K	27K	23K	27K	40K	111K	83K
Credit Card and Interchange Fees Growth	-	-32.50%	-14.81%	17.39%	48.15%	177.50%	-25.23%

Frequently Asked Questions

Valuation & Price

Sound Financial Bancorp, Inc. (SFBC) has a price-to-earnings (P/E) ratio of 24.3x. This is roughly in line with market averages.

Growth & Financials

Sound Financial Bancorp, Inc. (SFBC) grew revenue by 11.6% over the past year. This is steady growth.

Yes, Sound Financial Bancorp, Inc. (SFBC) is profitable, generating $5.1M in net income for fiscal year 2024 (7.5% net margin).

Dividend & Returns

Yes, Sound Financial Bancorp, Inc. (SFBC) pays a dividend with a yield of 1.73%. This makes it attractive for income-focused investors.

Sound Financial Bancorp, Inc. (SFBC) has a return on equity (ROE) of 4.5%. This is below average, suggesting room for improvement.

Industry Metrics

Sound Financial Bancorp, Inc. (SFBC) has a net interest margin (NIM) of 3.1%. This indicates healthy earnings from lending activities.

Sound Financial Bancorp, Inc. (SFBC) has an efficiency ratio of 48.6%. This is excellent, indicating strong cost control.

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