Sound Financial Bancorp, Inc..
SFBC.US | Other monetary intermediation
Sound Financial Bancorp, Inc. operates as the bank holding company for Sound Community Bank, a community bank that provides financial services to individuals, families, and businesses in the Puget Sound region of Washington. The bank offers a range of deposit products, including checking, savings, a...Show More
Better Health for All
0
No evidence available to assess Sound Financial Bancorp, Inc. on Better Health for All.
Fair Money & Economic Opportunity
0
No evidence available to assess Sound Financial Bancorp, Inc. on Fair Money & Economic Opportunity.
Fair Pay & Worker Respect
-30
As of December 31, 2024, the company's employees are not represented by any collective bargaining group.
1
The company has 108 full-time and 15 part-time employees.
2
Management considers its employee relations to be good.
3
The company offers various benefits including quarterly or annual bonus opportunities, an Employee Stock Ownership Plan (ESOP), a Company-matched 401(k) Plan, healthcare and insurance benefits, health savings and flexible spending accounts, paid time off, family leave, family care resources, flexible work schedules, and employee assistance programs.
4
Fair Trade & Ethical Sourcing
0
Sound Financial Bancorp, Inc. operates in the financial services sector. The provided articles, including its annual 10-K report and information from its website, do not contain specific quantitative data related to fair trade certifications, supplier audit frequency, forced or child labor incidents, traceability coverage, remediation speed for supply chain violations, ethical sourcing clauses in supplier contracts, the share of spend on high-risk materials, or the percentage of its procurement budget directed to diverse suppliers.
1
Given the company's nature as a bank holding company, it does not procure or trade physical commodities, nor does it have a supply chain that typically requires welfare or sourcing audits, exposure to upstream labor practices, or sourcing of at-risk materials. Therefore, all relevant KPIs are scored as N/A.
Honest & Fair Business
-10
The company has established procedures for handling complaints related to accounting, internal controls, or auditing matters, outlined in its Code of Business Conduct and Ethics.
1
It also has confidential reporting and investigation protocols, including reporting to senior management and the Board, and prohibits retaliation.
2
The company has had zero financial restatements in the past five years.
3
The Audit Committee members must meet NASDAQ and SEC independence requirements and be free from relationships interfering with independent judgment.
4
The company has a comprehensive anti-bribery and anti-corruption policy with zero tolerance for bribery and corruption, including requirements for accurate books and records, risk-based due diligence, and oversight of third parties.
5
The company's financial statements are subject to independent audit by Moss Adams LLP, which was ratified by shareholders for fiscal year 2025.
6
Kind to Animals
0
No evidence available to assess Sound Financial Bancorp, Inc. on Kind to Animals.
No War, No Weapons
0
The provided articles do not contain any specific, concrete data points or facts related to SFBC.US's involvement with arms manufacturing, military contracts, conflict facilitation, or peacebuilding initiatives.
1
Therefore, no KPIs under the 'No War, No Weapons' value can be scored based on the evidence provided.
Planet-Friendly Business
-20
The company has no environmental compliance violations mentioned in its 2013, 2021, 2023 sustainability reports, or its 2024 annual report.
1
No other specific quantitative data for the 'Planet-Friendly Business' KPIs, such as emissions, renewable energy use, water consumption, or waste diversion rates, is provided across any of the available articles.
2
Respect for Cultures & Communities
0
The provided articles do not contain specific quantitative data or concrete facts to assess SFBC.US against the defined KPIs for Respect for Cultures & Communities. While some articles mention a commitment to Diversity, Equity, and Inclusion (DE&I), community engagement, and a Supplier Diversity Program, they lack the specific numbers, percentages, or outcomes required by the rubric.
1
For example, the existence of a Supplier Diversity Program is noted, but no percentage of procurement spending directed to local or diverse suppliers, nor a count of indigenous suppliers, is provided.
2
Similarly, the company is recognized as a top corporate philanthropist, but no specific percentage of revenue donated to cultural heritage organizations is available.
3
The 10-K filing explicitly states it does not contain specific data on community engagement, cultural impact assessments, or reinvestment in local community development.
4
Therefore, no KPIs can be scored based on the evidence.
Safe & Smart Tech
-20
Sound Financial Bancorp, Inc. experienced a potential data breach in July 2023 involving a third-party vendor's MOVEit software, which potentially affected approximately 16,000 mobile and online banking customers.
1
While notification letters were sent, the company reported no evidence of customer data compromise and no significant compromises, substantial data losses, or major financial setbacks from cybersecurity attacks as of its March 2025 filing covering the fiscal year ended December 31, 2024.
2
The company conducts annual security training for employees and the Board of Directors, with role-based training for specific employees.
3
It also employs patch and vulnerability management processes.
4
A 2023 FFIEC CAT assessment indicated an acceptable level of cyber maturity, and the company adheres to regulatory requirements.
5
The privacy policy states the company collects only necessary data.
6
Users have rights to limit sharing of information with affiliates for creditworthiness, but other data control options are not detailed.
7
Zero Waste & Sustainable Products
0
No evidence available to assess Sound Financial Bancorp, Inc. on Zero Waste & Sustainable Products.