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Sound Financial Reports Eleventh Straight Profitable Quarter

Sound Financial Bancorp, Inc. (the “Company”) (NASDAQ:SFBC), holding company for Sound Community Bank (the “Bank”), today reported net income for the quarter ended September 30, 2012 of $612,000, or $0.23 per diluted share, as compared to net income of $181,000, or $0.07 per diluted share, for the quarter ended September 30, 2011. Return on average assets was 0.67% for the quarter ended September 30, 2012 compared to 0.21% for the quarter ended September 30, 2011. Total assets increased to $366.5 million as of September 30, 2012 compared to $355.1 million as of June 30, 2012.

This is the eleventh consecutive quarter of positive earnings for the Company.

Highlights as of and for the quarter ended September 30, 2012 include:

- The Company completed a successful stock offering during the quarter, which raised $14.2 million and increased equity to total assets to 11.54% as of September 30, 2012

- Net interest margin decreased to 4.91% for the quarter ended September 30, 2012 from 5.22% for the quarter ended September 30, 2011

- Efficiency ratio decreased to 56.67% for the quarter ended September 30, 2012 compared to 63.70% for the quarter ended September 30, 2011

- Deposit cost of funds was 0.68% for the quarter ended September 30, 2012 compared to 0.89% for the quarter ended September 30, 2011

- Provision for loan losses decreased to $1.1 million for the quarter ended September 30, 2012 from $1.3 million for the quarter ended September 30, 2011

- Non-performing loans to gross loans was 1.41% as of September 30, 2012 compared to 2.13% as of September 30, 2011

- Non-performing assets to total assets was 1.88% as of September 30, 2012 compared to 2.84% as of September 30, 2011

Laurie Stewart, President and CEO, said “This was a breakthrough quarter in terms of reducing non-performing assets. In particular the reduction of non-performing loans is an indication of improving asset quality for the Bank and for the industry as a whole.” Stewart also commented on the Company’s successful stock offering, “We are pleased to have become a fully public company and in the meantime generate additional capital which will allow us to further increase lending in the communities where we do business.”

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