Sound Financial Bancorp Inc
soundcb.comWhat Do They Do?
Takes deposits and makes residential, commercial real estate, and consumer loans to individuals and businesses, and sells insurance products to consumers.
10-K for FY2025, filed Mar 18, 2026
How Do They Make Money?
Earns interest on loans and other interest-earning assets, charges account fees monthly and transaction or card fees as each service or purchase occurs, and sells some residential mortgages for cash.
10-K for FY2025, filed Mar 18, 2026Our operating revenues are derived principally from earnings on interest-earning assets, service charges and fees, and gains on the sale of…View ↗
The Company earns fees from its customers for account maintenance, transaction-based and overdraft services. Account maintenance fees…View ↗
Debit/ATM interchange income represent fees earned when a debit card issued by the Bank is used for a transaction. The Bank earns…View ↗
The Company utilizes a third-party agency relationship to brand credit cards with fees for originating new accounts paid by the issuing…View ↗
We also sell whole one-to-four family loans without recourse to Fannie Mae and other investors, subject to a provision for repurchase upon…View ↗
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10-K for FY2025, filed Mar 18, 2026
FY2025 revenue by product or service (Service charges and fee income within scope of ASC 606) ↗
$57.6M
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10-K for FY2025, filed Mar 18, 2026
$57.6M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Account maintenance fees
Recurring
10-K for FY2025, filed Mar 18, 2026 |
16%
FY2022: 15%
|
Account maintenance fees, FY2025
$401K Sources
|
Recurring |
|
Transaction-based and overdraft service charges
Usage-based
10-K for FY2025, filed Mar 18, 2026 |
18%
FY2022: 20%
|
Transaction-based and overdraft service charges, FY2025
$451K Sources
|
Usage-based |
|
Debit/ATM interchange fees
Usage-based
10-K for FY2025, filed Mar 18, 2026 |
61%
FY2022: 63%
|
Debit/ATM interchange fees, FY2025
$1.5M Sources
|
Usage-based |
|
Credit card interchange fees
Usage-based
|
4.5%
FY2022: 1.8%
|
Credit card interchange fees, FY2025
$112K Sources
|
Usage-based |
Who Are Their Customers?
It seeks deposits and loan business from consumers, small- and medium-sized businesses, and professionals in its Washington markets; deposits come through branches and its website.
10-K for FY2025, filed Mar 18, 2026
Do Revenues Turn Into Profits?
Yes. It kept 12 cents of every revenue dollar as net income in FY2025 and turned 12 cents into free cash flow.
How Are They Changing?
Growing. Revenue grew 70% in 4 years, from $33.9M in FY2021 to $57.6M in FY2025, about 14% a year.
Greater commercial focus
The latest report says the bank has increased its emphasis on commercial and multifamily real estate, construction and land, and commercial business lending while continuing residential and consumer lending; the earlier report also listed these loan categories.
10-K for FY2022, filed Mar 14, 2023 10-K for FY2025, filed Mar 18, 2026Our principal business consists of attracting retail and commercial deposits from the general public and investing those funds, along with…View ↗
We originate both fixed-rate and adjustable-rate loans. Our ability to originate loans, however, is dependent upon client demand for loans…View ↗
Who Do They Compete With?
Competes with US Bank, JP Morgan Chase, Wells Fargo, Bank of America, and Key Bank
10-K for FY2025, filed Mar 18, 2026Our market area has a high concentration of financial institutions, many of which are branches of large money center and regional banks…View ↗
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