Welcome to our dedicated page for Timberland Bncp news (Ticker: TSBK), a resource for investors and traders seeking the latest updates and insights on Timberland Bncp stock.
Timberland Bancorp, Inc. (NASDAQ: TSBK) is the bank holding company for Timberland Bank, a Washington-based community financial institution serving consumers and businesses across several counties through a network of branches. This news page aggregates company announcements, earnings releases and other public updates related to TSBK stock and Timberland’s banking operations.
Investors and followers of Timberland Bancorp can use this feed to review the company’s reported financial performance, including quarterly and annual net income, earnings per diluted common share, net interest margin, efficiency ratio and measures such as return on average assets and return on average equity. The company’s releases also discuss balance sheet trends, covering total assets, net loans receivable, deposits, shareholders’ equity and liquidity levels.
Typical news items include discussions of loan portfolio growth across categories such as one- to four-family residential loans, multi-family loans, commercial real estate loans, construction loans and land loans, as well as commentary on credit quality metrics like non-performing assets and net charge-offs. Timberland also reports on provisions for credit losses and the impact of changes in funding costs and asset yields on net interest income.
Other updates may cover capital management decisions, such as quarterly cash dividend declarations, dividend increases and share repurchase activity, along with recognition from industry and local organizations. Regulatory filings announced via Form 8-K, including earnings releases and investor presentations, are also reflected in the news flow. Readers who monitor TSBK news can track how management describes the company’s performance, risk profile and community banking activities over time.
Timberland Bancorp (TSBK) reported a 14% increase in net income for fiscal year 2021, reaching $27.58 million, alongside a 14% rise in diluted EPS to $3.27. Although quarterly net income decreased to $6.02 million from $6.36 million year-over-year, the company declared a cash dividend of $0.21 per common share. The fiscal year saw a return on average assets of 1.64% and return on average equity of 13.98%, while total assets increased by 14% to $1.79 billion. Liquidity remains strong, with total deposits rising 16% year-over-year. Outlook indicates cautious optimism with rising interest rates and loan origination opportunities.
Timberland Bancorp, Inc. (NASDAQ – TSBK) announced the retirement of director James A. Davis, effective August 24, 2021, due to reaching the mandatory retirement age. Davis has served since 2017 and will take on an advisory role post-retirement. The Board also voted to reduce its size from nine to eight members. Chairman Jon Parker and President Michael Sand praised Davis for his exceptional service and contributions, particularly in technology matters, which benefited the management team.
Timberland Bancorp (NASDAQ: TSBK) reported a 20% increase in year-to-date net income, reaching $21.57 million, with a quarterly net income of $7.02 million, up 13% year-over-year. Earnings per diluted share rose to $0.83. The company declared a quarterly cash dividend of $0.21 and a special dividend of $0.10, payable on August 27, 2021. Deposits grew by 15% year-over-year, totaling $1.52 billion. The non-performing assets ratio improved to 0.14%. The board appointed Parul Bhandari, enhancing the board's technology expertise.
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.