EX-99.1
2
a6043040ex99-1.htm
EXHIBIT 99.1
Exhibit 99.1
Sound
Community Bank Acquires Port Angeles and Tacoma Branches of 1
st
Security Bank of Washington
SEATTLE--(BUSINESS WIRE)--September 1, 2009--Sound Community Bank, a
subsidiary of Sound Financial Inc. (OTCBB:SNFL), announced today that it
completed its acquisition of the Tacoma Office of 1
st
Security Bank of Washington located at 2941 South 38
th
Street
and the Port Angeles Office of 1
st
Security Bank of
Washington located at 1405 E. Front Street.
The combined deposit accounts acquired by Sound Community Bank at both
branches totaled $33.6 million. At June 30, 2009, Sound Financial, Inc.
had total assets of $324.4 million, total deposits of $254.9 million and
stockholders' equity of $25.5 million.
Sound Community Bank President and CEO Laurie Stewart commented, "We're
absolutely delighted to have the 1st Security customers join us. These
acquisitions give our Company the size and scale to provide even greater
service and to have a real impact in these communities".
The operations of the acquired Port Angeles Office have been moved to
Sound Community Bank's new branch location at 110 North Alder Street in
Port Angeles. The Company plans to move the operations of its Lakewood
Towne Center branch to the new Tacoma branch location during the fourth
quarter of 2009.
Sound Community Bank is a full-service bank, providing personal and
business banking services in communities across the greater Puget Sound
region. The Seattle-based company operates banking offices in King,
Pierce, Snohomish and Clallam Counties, and is on the web at
www.soundcb.com
.
Forward-Looking Statements
This report contains statements that are not historical or current fact
and constitute forward-looking statements. In some cases, you can
identify these statements by words such as "may", "might", "will",
"should", "expect", "plan", "intend", "anticipate", "believe",
"estimate", "predict", "potential", or "continue", the negative of these
terms and other comparable terminology. Such forward-looking statements,
which are based on various underlying assumptions and expectations and
are subject to risks, uncertainties and other unknown factors, may
include projections of our future financial performance based on our
growth strategies and anticipated trends in our business. These
statements are only predictions based on our current expectations and
projections about future events, and there are or may be important
factors that could cause our actual results to be materially different
from the historical results or from any future results expressed or
implied by such forward-looking statements. Unless required by law, we
undertake no obligation to publicly update or revise any forward-looking
statement to reflect circumstances or events after the date of this
press release.
Results of operations and business are subject to various factors which
could cause actual results to differ materially from these estimates and
most other statements that are not historical in nature. These factors
include, but are not limited to, general and local economic conditions,
changes in interest rates, deposit flows, demand for mortgage, consumer
and other loans, real estate values, competition, changes in accounting
principles, policies or guidelines, changes in legislation or
regulation, and other economic, competitive, governmental, regulatory
and technological factors affecting our operations, pricing, products
and services.
CONTACT:
Sound Community Bank - Media:
Scott Boyer,
206-448-0884 x-312
or
Sound Community Bank -
Financial:
Matt Deines, 206-448-0884 x-305

EX - 99 . 1 2 a6043040ex99 - 1 . htm EXHIBIT 99 . 1 Exhibit 99 . 1 Sound Community Bank Acquires Port Angeles and Tacoma Branches of 1 st Security Bank of Washington SEATTLE -- ( BUSINESS WIRE ) -- September 1 , 2009 -- Sound Community Bank , a subsidiary of Sound Financial Inc . ( OTCBB : SNFL ) , announced today that it completed its acquisition of the Tacoma Office of 1 st Security Bank of Washington located at 2941 South 38 th Street and the Port Angeles Office of 1 st Security Bank of Washington located at 1405 E. Front Street . The combined deposit accounts acquired by Sound Community Bank at both branches totaled $ 33.6 million . At June 30 , 2009 , Sound Financial , Inc . had total assets of $ 324.4 million , total deposits of $ 254.9 million and stockholders ' equity of $ 25.5 million . Sound Community Bank President and CEO Laurie Stewart commented , " We ' re absolutely delighted to have the 1st Security customers join us . These acquisitions give our Company the size and scale to provide even greater service and to have a real impact in these communities " . The operations of the acquired Port Angeles Office have been moved to Sound Community Bank 's new branch location at 110 North Alder Street in Port Angeles . The Company plans to move the operations of its Lakewood Towne Center branch to the new Tacoma branch location during the fourth quarter of 2009 . Sound Community Bank is a full - service bank , providing personal and business banking services in communities across the greater Puget Sound region . The Seattle - based company operates banking offices in King , Pierce , Snohomish and Clallam Counties , and is on the web at www.soundcb.com . Forward - Looking Statements This report contains statements that are not historical or current fact and constitute forward - looking statements . In some cases , you can identify these statements by words such as " may " , " might " , " will " , " should " , " expect " , " plan " , " intend " , " anticipate " , " believe " , " estimate " , " predict " , " potential " , or " continue " , the negative of these terms and other comparable terminology . Such forward - looking statements , which are based on various underlying assumptions and expectations and are subject to risks , uncertainties and other unknown factors , may include projections of our future financial performance based on our growth strategies and anticipated trends in our business . These statements are only predictions based on our current expectations and projections about future events , and there are or may be important factors that could cause our actual results to be materially different from the historical results or from any future results expressed or implied by such forward - looking statements . Unless required by law , we undertake no obligation to publicly update or revise any forward - looking statement to reflect circumstances or events after the date of this press release . Results of operations and business are subject to various factors which could cause actual results to differ materially from these estimates and most other statements that are not historical in nature . These factors include , but are not limited to , general and local economic conditions , changes in interest rates , deposit flows , demand for mortgage , consumer and other loans , real estate values , competition , changes in accounting principles , policies or guidelines , changes in legislation or regulation , and other economic , competitive , governmental , regulatory and technological factors affecting our operations , pricing , products and services . CONTACT : Sound Community Bank - Media : Scott Boyer , 206 - 448 - 0884 x - 312 or Sound Community Bank - Financial : Matt Deines , 206 - 448 - 0884 x - 305