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Timberland Bancorp Inc. reports news as the bank holding company for Timberland Bank, a Washington community bank serving consumers and businesses with lending and deposit services. Recurring updates focus on quarterly and fiscal-year earnings, net interest margin, loan and deposit trends, asset quality, nonperforming assets, capital management and common-stock dividends.
Company announcements also cover branch activity, stock repurchase programs, investor presentations and recognition within bank and thrift performance rankings. Timberland Bank’s lending references include residential and commercial real estate, construction, home equity, land, SBA and business credit products, alongside checking, savings, online banking and treasury-related services.
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%.
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