Sound Financial Bancorp, Inc. Announces Net Loan Charge-Offs for the First Quarter Ended March 31, 2024
April 30, 2024 at 03:49 pm IST
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Sound Financial Bancorp, Inc. announced net loan charge-offs for the first quarter ended March 31, 2024. The company announced net loan charge-offs for the first quarter of 2024 totaled $56,000 compared to $72,000 for the first quarter of 2023.
Sound Financial Bancorp, Inc. is a bank holding company. The Company's business is substantially conducted through Sound Community Bank (the Bank), a Washington state-chartered commercial bank. Its principal business consists of attracting retail and commercial deposits from the general public and investing those funds, along with borrowed funds, in loans secured by first and second mortgages on one-to-four family residences, commercial and multifamily real estate, construction and land, consumer and commercial business loans. Its commercial business loans include unsecured lines of credit and secured term loans and lines of credit secured by inventory, equipment and accounts receivable. It offers a variety of secured and unsecured consumer loan products, including manufactured home loans, floating home loans and recreational vehicle loans. It also sells insurance products and services to consumers through Sound Community Insurance Agency, Inc., a wholly owned subsidiary of the Bank.