Sound Financial Bancorp, Inc. Announces Adoption of New Stock Repurchase Program

SEATTLE, Jan. 26, 2024 (GLOBE NEWSWIRE) — Sound Financial Bancorp, Inc. (NASDAQ:SFBC) (the “Company”), the parent holding company of Sound Community Bank, today announced that its Board of Directors has appointed a new Board of Directors. announced that it was approved. The stock repurchase program allows us to repurchase up to $1.5 million of our outstanding common stock during a 12-month period expiring on January 26, 2025. Pursuant to the Company's existing stock repurchase program, which is scheduled to expire on January 31, 2024. As a result, the Company repurchased 107,735 shares of its common stock for a total purchase price of approximately $4 million.

The Board of Directors may also provide management with one or more trading plans to facilitate repurchases under the new stock repurchase program (the “Rule 10b5-1 Plan”) pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934. I was given the authority to set up. The Rule 10b5-1 plan allows us to repurchase stock if we are unable to do so under securities laws or due to self-imposed embargo periods.

The actual timing, number and value of shares repurchased under the new stock repurchase program will depend on many factors, including the constraints specified in the Rule 10b5-1 Plan, prices, general business and market conditions, and alternative investment opportunities. depends on factors. The new stock repurchase program does not obligate us to acquire any particular number of shares at any time and may be expanded, extended, modified or discontinued at any time.

About the company

Sound Financial Bancorp, Inc., a bank holding company, is the parent company of Sound Community Bank, headquartered in Seattle, Washington, with full-service operations in Seattle, Tacoma, Mountlake Terrace, Sequim, Port Angeles, Port Ludlow, and University. We have a branch office. place. Sound Community Bank is a Fannie Mae accredited lender and seller/servicer with his one loan production office located in the Madison Park neighborhood of Seattle, Washington. For more information, please visit www.soundcb.com.

story continues

Forward-looking statements

This press release contains certain statements that may constitute “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995, including information regarding the Company's potential purchase of common stock. I am. By their nature, forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those expected as of the date of this release. These risks include the price and availability of our stock, material changes in general economic conditions and conditions within our industry, and changes in our most recent Annual Report on Form 10-K and Form 10-K. and numerous other factors identified in the quarterly reports. Q and other reports filed with or furnished to the Securities and Exchange Commission are available below. www.soundcb.com Please see the Investor Information section and the SEC's website at: www.sec.gov.

We publicly disclose the results of any revisions we make to forward-looking statements to reflect events or circumstances after the date of the forward-looking statements, or to reflect the occurrence of anticipated or unanticipated events. do not undertake to do so, and specifically refuse to do so. event.