sfbc20250917_8k.htm
false 0001541119 0001541119 2025-09-18 2025-09-18
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported) September 18, 2025
 
SOUND FINANCIAL BANCORP, INC.
(Exact name of registrant as specified in its charter)
 
Maryland
 
001-35633
 
45-5188530
(State or other jurisdiction
of incorporation)
 
(Commission File No.)
 
(IRS Employer
Identification No.)
 
 
2400 3rd Avenue, Suite 150, Seattle, Washington
 
98121
(Address of principal executive offices)
 
(Zip Code)
 
Registrant's telephone number, including area code: (206) 448-0884
 
 
Not Applicable
(Former name or former address, if changed since last report)
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities registered pursuant to Section 12(b) of the Act:
 
 
     
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, $0.01 par value
SFBC
The NASDAQ Stock Market LLC
 
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b–2 of the Securities Exchange Act of 1934 (§ 240.12b–2 of this chapter).
 
Emerging growth company  ☐
 
 
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 
 
 
 
 
 
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
 
On September 18, 2025, the Board of Directors of Sound Community Bancorp, Inc. (the “Company”), the parent holding company for Sound Community Bank (the “Bank”), announced the adoption of an executive leadership transition plan.
 
Effective, October 1, 2025, Laura Lee Stewart, the current President and Chief Executive Officer of the Bank and the Company, will relinquish her roles as President of the Company and the Bank. Ms. Stewart will continue to serve as Chief Executive Officer of the Company and the Bank and as a director of each. Ms. Stewarts transition was not the result of any disagreement with the Company or the Bank on any matter relating to operations, policies, or practices.
 
Effective October 1, 2025, Wesley (“Wes”) Ochs, age 45, currently serving as Executive Vice President and Chief Financial Officer of the Company and the Bank, was appointed President of the Company and the Bank. In connection with this appointment, Mr. Ochs will cease serving as Executive Vice President but will continue to serve as Chief Financial Officer, a position he has held since 2021. Mr. Ochs joined the Bank in 2009 as a Commercial Loan Officer and has held roles of increasing responsibility since that time.
 
There are no arrangements or understandings between Mr. Ochs and any other person pursuant to which he was selected as an officer. Mr. Ochs has no family relationships required to be disclosed pursuant to Item 401(d) of Regulation S-K and has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
 
In connection with his promotion, the Compensation Committee of the Board approved an increase in Mr. Ochs’ annual base salary to $360,000, effective October 1, 2025. Mr. Ochs’ other compensation arrangements, including participation in the Company’s incentive and equity-based compensation programs, will remain unchanged. Additional information regarding Mr. Ochs’ compensation is included in the Company’s definitive proxy statement for its 2025 annual meeting of shareholders, filed with the Securities and Exchange Commission on April 16, 2025, which information is incorporated herein by reference.
 
A copy of the press release issued by the Company on September 19, 2025 announcing the executive leadership transition plan is attached as Exhibit 99.1 to this report and is incorporated herein by reference. 
 
Item 9.01 Financial Statements and Exhibits
 
Exhibit No.         Description
 
99.1        Press Release dated September 19, 2025
104         Cover page interactive data file (embedded within the Inline XBRL document)
 
(Signature page follows)
 
 
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized.
 
 
SOUND FINANCIAL BANCORP, INC.
     
     
Date:
September 19, 2025
By:
/s/ Laura Lee Stewart
     
Laura Lee Stewart, President and CEO
 
 

Exhibit 99.1

 

SOUND COMMUNITY BANCORP, INC.
ANNOUNCES EXECUTIVE LEADERSHIP TRANSITION
Board Appoints Wes Ochs as President; Laurie Stewart Continues
as Chief Executive Officer

 

 

FOR IMMEDIATE RELEASE

 

Seattle, WA - September 19, 2025 - The Board of Directors of Sound Financial Bancorp, Inc (NASDAQ:SFBC), (the “Company”) the holding company for Sound Community Bank (the “Bank”), today announced that, effective October 1, 2025, it has unanimously approved the appointment of Wesley (Wes) Ochs as President of the Company and the Bank. He will continue to serve as Chief Financial Officer of both entities, a position he has held since 2021. Laura Lee (Laurie) Stewart will continue as Chief Executive Officer of the Company and the Bank.

 

This transition reflects the Board’s ongoing succession planning and ensures continuity in advancing the Bank’s mission and strategic objectives, while recognizing the leadership strengths of both executives.

 

Wes brings more than 23 years of banking experience spanning retail banking, mortgage banking, commercial lending, credit administration, and management. He holds degrees in Economics and Accounting and is a graduate of the Pacific Coast Banking School. 

 

Since 2021, Wes has served as Chief Financial Officer, a role in which he combined technical expertise with collaborative leadership to drive operational efficiencies across departments and business lines. He has led initiatives to enhance lending operations, financial reporting, policy governance, and client experience, with a consistent focus on transparency and team development. More recently, his work has concentrated on asset/liability management, credit loss modeling, and enterprise budgeting, areas critical to strengthening the Bank’s financial resilience and aligning strategic priorities.

 

Laurie, who is marking her 35th anniversary with the organization, has guided its evolution from a credit union with less than $50 million in assets to a mutual savings bank and, ultimately, to a state-chartered, FDIC-insured commercial bank. As Chief Executive Officer, she will continue to lead the organization’s long-term strategy and ensure a smooth transition of the President’s duties.

 

About the Company

 

Sound Financial Bancorp, Inc., a bank holding company, is the parent company of Sound Community Bank, which is headquartered in Seattle, Washington and has full-service branches in Seattle, Tacoma, Mountlake Terrace, Sequim, Port Angeles, Port Ludlow and University Place. Sound Community Bank is a Fannie Mae Approved Lender and Seller/Servicer with one loan production office located in the Madison Park neighborhood of Seattle. For more information, please visit www.soundcb.com.

 

Forward-Looking Statements

 

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s leadership transition, succession planning, and the expected benefits of these changes. Forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Factors that could cause such differences include, among others, challenges in implementing management changes, business and economic conditions, regulatory developments, and other risks described in the Company’s filings with the Securities and Exchange Commission. The Company disclaims any obligation to update or revise forward-looking statements contained herein, except as required by law.

 

For additional information contact:
Laurie Stewart, President, CEO
206.436.1495