Overview

* Sound Financial Bancorp ( SFBC ) Q2 net income rises to $2.1 mln, EPS at $0.79

* Net interest income increases 14.7% qtr/qtr, driven by higher loan yields

* Nonperforming loans decrease 65.1%, indicating improved credit quality

Outlook

* Sound Financial expects gradual decline in funding costs due to rate cuts

* Company anticipates continued growth in loan portfolio with solid pipeline

* Company leverages technology investments to reduce expenses and drive efficiencies

Result Drivers

* LOAN PORTFOLIO GROWTH - Co increased loans held for portfolio by 2% in Q2, contributing to higher interest income

* CREDIT QUALITY IMPROVEMENT - Resolution of major nonaccrual loans led to improved credit quality and net interest income

* COST MANAGEMENT - Reduction in cost of funds and emphasis on money market products positioned for future rate cuts

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 EPS $0.79

Q2 Net $2.10

Income mln

Q2 $0.19

Dividend

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)