Sound Community Bank to Acquire Port Angeles Branch of 1st Security Bank of Washington

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Wed Apr 29, 2009 4:15pm EDT

SEATTLE--(Business Wire)--
Sound Community Bank, a subsidiary of Sound Financial Inc. (OTCBB:SNFL),
announced today that it is purchasing the Port Angeles Office of 1st Security
Bank of Washington. In the transaction, Sound Community Bank will acquire the
1st Security Bank deposits, deposit-related loans and the branch facility
located at 1405 E. Front Street. 

Joe Adams, Chief Executive Officer of 1st Security Bank noted, "Sound Community
Bank was clearly looking to expand their presence on the peninsula, while we`ve
been seeking to re-focus on our core business markets located in the central
Puget Sound corridor. It`s a win-win for both banks. We also feel good that our
customers in Port Angeles will be served by a company that shares our strong
commitment to high quality customer service." 

Sound Community Bank President and CEO Laurie Stewart added, "We`re really
excited about becoming a part of the Port Angeles Community. Our Sequim office
already has a nice following in Port Angeles and this opportunity provides us a
way to better service them. The addition of the 1st Security branch gives us a
great head start and allows us to significantly accelerate our business plan on
the peninsula." 

The transaction remains subject to regulatory approval and is expected to close
in the second quarter of 2009. Sound Community Bank had previously announced its
expansion into Port Angeles. The new full-service Port Angeles branch is
currently under construction at 110 N. Alder Street. 

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. 

1st Security Bank of Washington, based in Mountlake Terrace, provides a full
range of banking services to individuals and businesses. It has branches
throughout the Puget Sound area. More information can be found at www.fsbwa.com.


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Sound Community Bank - Media:
Scott Boyer, 206-448-0884, x-312
or
Sound Community Bank - Financial:
Matt Deines, 206-448-0884, x-305
or
1st Security Bank - Media & Financial:
Brad Canfield, 425-697-8053



Copyright Business Wire 2009

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