Press Releases

Company Declares Fourth-Quarter Dividend of $0.02 Per Share

SEATTLE--(BUSINESS WIRE)-- Sound Financial Inc. (OTCBB: SNFL), holding company for Sound Community Bank, today announced financial results for the quarter and year ended December 31, 2009.

For the quarter ended December 31, 2009, the Company reported a net loss of $199,846 or $0.07 per diluted share, compared to a net loss of $41,130 or $0.01 per diluted share for the same period in 2008. For the year ended December 31, 2009, the bank reported a net loss of $351,469 or $0.12 per share, compared to net income of 261,575 or $0.09 per share for the year ended December 31, 2008.

President and CEO Laurie Stewart said, "Given the economic environment and its impact on earnings, we feel fortunate to be putting 2009 behind us without experiencing the magnitude of losses many other banks in this area have suffered. The improvements we've made in our core business over the year have allowed us to prudently grow our reserves while remaining well capitalized. We feel well positioned for 2010."

During the quarter, the Company also acquired a $339,000,000 Fannie Mae-owned mortgage servicing portfolio from Leader Financial Services. The Company paid approximately $1,922,000 for the mortgage servicing rights. This transaction gives the Company the rights to the servicing cash flows for the life of each loan. This acquisition supports a Company initiative to increase non-interest income.

Stewart commented, "Because we have a long history of retaining servicing on our loan production, we've developed a core competency in mortgage servicing. This acquisition allows us to leverage that unique capability to increase our income without consuming much additional capital. It's a nice fit for us."

Total assets increased 14.8% over the year-ago period from 293,497,000 to $337,061,000 at December 31, 2009. Total assets decreased $16,669,000 or 4.7% from September 30, 2009.

For the quarter ending December 31, 2009, net interest income grew 11.8% over the previous quarter to $3,511,000 million. This was a 36.5% increase over the same quarter in 2008. The Company's quarterly net interest margin increased to 4.38% at year end, compared to 3.98% in the third quarter and 3.68% in the fourth quarter of 2008. These increases can be attributed to a reduction in the Company's cost of funds to 1.74% in the fourth quarter of 2009, compared to 2.25% for the three months ended September 30, 2009. This was an improvement of 132 basis points over the fourth quarter of 2008.

In the fourth quarter, net loans increased 0.7% to $289,364,000 at December 31, 2009, a 9.9% increase over the year-ago period. Total deposits decreased 4.3% over the previous quarter to $287,564,000 at December 31, 2009. Year over year, total deposits were up 29.1% as the result of the acquisition of two branches during the year, as well as organic growth at our existing locations.

Non-performing assets were 1.48% at December 31, 2009, up from 1.31% at September 30, 2009, and 1.01% at December 31, 2008. Net charge-offs were $1,009,000 for the quarter ending December 31, 2009, compared to $310,000 in the third quarter. To address current market conditions, the provision for loan loss expense was increased to $1,800,000, an increase of 89.5% over the previous quarter and 414.3% over the same quarter in 2008.

The Board of Directors also declared a regular quarterly cash dividend of $0.02 per common share. The dividend will be paid on February 25, 2010, to shareholders of record on February 19, 2010. This is the eighth consecutive quarterly cash dividend paid to shareholders by Sound Financial since its initial public offering in January of 2008.

Sound Financial Inc. is the holding company for Sound Community Bank, 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.

    Source: Sound Financial Inc.

HOLLYWOOD, Calif.--(BUSINESS WIRE)-- EMO Films has announced a new association with international best-selling author Mark Fisher ("The Instant Millionaire"). Fisher is a new investor in the vertically-integrated production company, run by Joel Eisenberg and Timothy Owens, based out of Sunset-Gower Studios in Hollywood.

EMO Films executive produced "April Showers," which received a limited theatrical run in April of 2009 and has since become the highest-selling film of all time on IndieFlix, its digital distributor. Upcoming projects from EMO Films include "Ghoulishly Yours, William M. Gaines," a biopic of the titular comic book creator ("Tales from the Crypt," "Mad"), to be directed by John Landis, authorized follow-ups to "Road to Perdition" and "Drugstore Cowboy," and re-introductions of the EC Comics library for film and television.

Fisher is based out of Canada. His books have sold in 30 countries and have been translated into 20 languages. In all, over five million of his books have been sold.

EMO Films is presently developing various projects based on Fisher's works, including his top-selling title, "The Instant Millionaire," and "The Women's Clinic," an original screenplay inspired by an allegedly true locale where wealthy men send their wives to avoid the costs of an expensive divorce - and from where they rarely come out alive.

    Source: EMO Films

OAKLAND, CA -- (MARKET WIRE) -- 02/09/10 -- The Clorox Company (NYSE: CLX) today announced that its board of directors has declared a regular quarterly dividend of 50 cents per share on the company's common stock, payable May 14, 2010, to stockholders of record on April 28, 2010.

The Clorox Company

The Clorox Company is a leading manufacturer and marketer of consumer products with fiscal year 2009 revenues of $5.5 billion. Clorox markets some of consumers' most trusted and recognized brand names, including its namesake bleach and cleaning products; Green Works® natural cleaners; Armor All® and STP® auto-care products; Fresh Step® and Scoop Away® cat litter; Kingsford® charcoal; Hidden Valley® and K C Masterpiece® dressings and sauces; Brita® water-filtration systems; Glad® bags, wraps and containers; and Burt's Bees® natural personal care products. With approximately 8,300 employees worldwide, the company manufactures products in more than two dozen countries and markets them in more than 100 countries. Clorox is committed to making a positive difference in the communities where its employees work and live. Founded in 1980, The Clorox Company Foundation has awarded cash grants totaling more than $77 million to nonprofit organizations, schools and colleges. In fiscal 2009 alone, the foundation awarded $3.6 million in cash grants, and Clorox made product donations valued at $7.8 million. For more information about Clorox, visit www.TheCloroxCompany.com.

Media Relations
Dan Staublin
(510) 271-1622

Investor Relations
Li-Mei Johnson
(510) 271-3396

Steve Austenfeld
(510) 271-2270

EDMONTON, ALBERTA--(Marketwire - Feb. 9, 2010) - Ted Morton's first budget will mean crowded classrooms across the province.

That was the verdict of Dennis Mol, President of CUPE Alberta, representing 30,000 members, including over 7,000 K-12 employees in the province.

"The funding increase for health care is welcome, but it comes at a cost to our schools," said Mol. "An increase of less than one per cent won't cover inflation, wage increases, and increased enrollment."

"Teachers just got a wage increase that the government won't pay for, and we expect arbitration awards to give our members a similar increase," said Mol. "This is going to result in a lot of cut backs in public schools - parents should be ready."

"We never caught up from the cuts in the nineties, five schools in Edmonton are facing closure, and the Conservatives are making it worse with their continued underfunding of education."

Mol was also concerned with the fact there is no mention of funding to create new long term care spaces.

"We have almost 1,200 seniors waiting to get into long term care," said Mol. "Most of them are taking up expensive spaces in our hospitals. How is the government saving money by continuing that practice?"

FOR FURTHER INFORMATION PLEASE CONTACT:
        CUPE
        Lou Arab
        Communications Representative
        (780) 271-2722

Source: Canadian Union of Public Employees (CUPE)