Timberland Bncp Stock Price, News & Analysis

On July 27, 2021, Timberland Bancorp (NASDAQ: TSBK) announced the appointment of Parul Bhandari to its Board of Directors, replacing Larry Goldberg who retired after reaching the company's mandatory retirement age. Bhandari, a pioneer in digital transformation at Microsoft, brings extensive experience in technology and strategic growth. President and CEO Michael Sand expressed confidence in her ability to enhance governance and drive innovation within the company, particularly in technology matters critical to customer engagement and product development.

Timberland Bancorp reported a 44% increase in net income to $7.25 million for the second fiscal quarter of 2021, compared to $5.05 million in Q2 2020. Earnings per diluted share rose 43% to $0.86. Total assets grew by 28% year-over-year to $1.70 billion, with a 32% increase in deposits. A quarterly cash dividend of $0.21 was announced, payable on May 28, 2021. While the loan originations were strong, Timberland opted to sell most fixed-rate mortgage loans due to low interest rates. The net interest margin decreased to 3.21% from 4.27% a year ago.

Timberland Bancorp, Inc. (NASDAQ: TSBK) announced its inclusion in the 2021 KBW Bank Honor Roll, highlighting its achievement of ten consecutive years of annual earnings per share growth. This accolade is shared with only 16 banks nationally. Additionally, Timberland received the 2020 Raymond James Community Bankers Cup award, marking its position in the top 10% of community banks for the fourth consecutive year, based on profitability and efficiency metrics. These recognitions emphasize Timberland's strong operational performance amidst economic challenges.

Timberland Bancorp (NASDAQ: TSBK) has announced a new stock repurchase program that allows for the buyback of up to 5% of its outstanding shares, totaling 415,970 shares. This program replaces the previous one, which had only 141,952 shares remaining for repurchase. The buybacks will be conducted in open market or private transactions, depending on market conditions and management's discretion. This strategy aims to enhance shareholder value while maintaining flexibility in capital allocation.

Timberland Bancorp (NASDAQ: TSBK) reported a 10% increase in net income to $7.29 million for Q1 2021, with EPS rising 12% to $0.87. The company announced a 5% increase in the quarterly cash dividend to $0.21 per share and a special dividend of $0.10. Key metrics included a return on average equity of 15.39% and a return on average assets of 1.84%. Total assets rose 25% year-over-year, while total deposits increased by 27%. These results reflect robust financial performance despite challenges posed by COVID-19, with a focus on supporting local businesses through PPP loans.

Timberland Bancorp, Inc. (NASDAQ: TSBK) has appointed Kelly A. Suter to its Board of Directors, replacing Daniel Yerrington, who retired due to reaching the mandatory retirement age. Suter brings over 25 years of leadership experience, with a focus on finance and digital transformation, previously serving as COO of Calico Energy. Her expertise in technology and customer experience enhancement is expected to support Timberland in navigating the evolving banking sector.

Timberland Bancorp reported a 1% increase in net income to $24.27 million for the fiscal year ending September 30, 2020, with diluted earnings per share rising to $2.88. The company’s return on assets was 1.75% and return on equity 13.59%. Quarterly net income also rose, reaching $6.36 million or $0.76 per share. The debt service for deferrals decreased to less than 1% of the loan portfolio. A $0.20 cash dividend was declared, with plans to resume stock repurchases in November, reflecting confidence in stock value.

Timberland Bancorp reported strong financial results for the quarter ended June 30, 2020, with net income of $6.21 million and EPS of $0.74, up from $5.05 million and $0.60 in the previous quarter. The company originated a record $250 million in loans, significantly aided by the PPP. Total assets reached $1.52 billion, marking a 22% year-over-year increase. A quarterly cash dividend of $0.20 was declared, payable on August 28, 2020. The return on average assets was 1.70% and return on equity was 13.83%.