Timberland Bancorp 2026 Fiscal Year’s Net Income Increases 7% to $31.2 Million

Annual earnings growth accompanied a higher dividend, while quarterly profit remained below a year-earlier period boosted by an insurance benefit.

Rhea-AI Summary

Timberland Bancorp (NASDAQ: TSBK) reported fiscal 2026 net income of $31.17 million, up 7% from the prior fiscal year. Diluted earnings per share rose 8% to $3.96 for the year ended September 30, 2026. Fourth-quarter net income was $8.11 million, up 5% sequentially but down 4% year over year; diluted EPS was $1.04, up 6% sequentially but down 3% annually. The year-earlier quarter included a $1.04 million bank-owned life insurance benefit claim.

Quarterly net interest margin increased to 3.96% from 3.85% sequentially and 3.82% a year earlier. Net loans reached $1.53 billion, up 2% sequentially and 4% annually. Quarterly operating expenses rose 6% sequentially to $12.29 million. The quarterly dividend increased 3% to $0.31 per share, payable November 27, 2026, to holders of record November 12. Timberland also repurchased 40,395 shares for $1.85 million during the quarter.

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• Moderate pointFiscal 2026 net income increased 7% to $31.17 million from $29.16 million in fiscal 2025.
• Moderate pointFiscal 2026 operating revenue increased 6% to $87.34 million from $82.55 million.
• Moderate pointFiscal 2026 net interest income increased 8% to $75.66 million from $70.20 million.
• Moderate pointFiscal 2026 net interest margin expanded to 3.87% from 3.76% in fiscal 2025.
• Moderate pointNet loans reached $1.53 billion, up 2% sequentially and 4% year over year.
• Moderate pointFiscal 2026 efficiency ratio improved to 53.83% from 54.98%, reflecting lower expenses relative to revenue.

13 minor points

• Minor pointFiscal 2026 diluted EPS increased 8% to $3.96 from $3.67 in fiscal 2025.
• Minor pointQuarterly net income reached $8.11 million, up 5% sequentially but down 4% year over year.
• Minor pointQuarterly diluted EPS reached $1.04, up 6% sequentially but down 3% year over year.
• Minor pointQuarterly dividend increased 3% to $0.31 per share, payable November 27, 2026.
• Minor pointQuarterly share repurchases totaled 40,395 shares for $1.85 million.
• Minor pointQuarterly operating revenue increased to $22.79 million, up 5% sequentially and 1% year over year.
• Minor pointQuarterly net interest income reached $19.66 million, up 5% sequentially and 7% year over year.
• Minor pointQuarterly net interest margin rose to 3.96% from 3.85% sequentially and 3.82% a year earlier.
• Minor pointTotal assets reached $2.06 billion, up less than 1% sequentially and 3% year over year.
• Minor pointTotal deposits increased less than 1% sequentially and 3% year over year.
• Minor pointShareholders’ equity increased 1% sequentially and 5% year over year.
• Minor pointBook value and tangible book value per share increased to $35.51 and $33.54, respectively; tangible value is non-GAAP.
• Minor pointAvailable secured borrowing capacity totaled $810 million through the Federal Home Loan Bank and Federal Reserve.

Negative

• Moderate pointFiscal 2026 operating expenses increased 4% to $47.02 million from $45.39 million.
• Moderate pointFiscal 2026 non-interest income decreased 5% to $11.68 million from $12.35 million.
• Minor pointQuarterly operating expenses increased to $12.29 million, up 6% sequentially and 3% year over year.
• Minor pointQuarterly efficiency ratio worsened to 53.94% from 53.40% sequentially and 53.18% a year earlier.
• Minor pointQuarterly non-interest income was $3.12 million, up 4% sequentially but down 24% year over year.

5 minor points

• Minor pointQuarterly loan-loss provision was $475,000, below $600,000 sequentially but above $213,000 a year earlier.
• Minor pointNon-performing assets were 0.42% of total assets, versus 0.43% sequentially and 0.23% a year earlier.
• Minor pointLiquidity fell to 18.5% of total liabilities from 19.3% sequentially and 18.8% a year earlier.
• Minor pointQuarterly income-tax provision increased 2% to $1.96 million from $1.93 million sequentially.
• Minor pointFiscal 2026 effective income-tax rate increased to 19.9% from 19.5% in fiscal 2025.

Key Figures

Fiscal-year net income: $31.17 million; increased 7% Fiscal-year diluted EPS: $3.96; increased 8% Quarterly net income: $8.11 million; increased 5% QoQ and decreased 4% YoY +5 more

Fiscal-year net income

$31.17 million; increased 7%

Fiscal year 2026 compared with fiscal year 2025

Fiscal-year diluted EPS

$3.96; increased 8%

Fiscal year 2026 compared with $3.67 in fiscal year 2025

Quarterly net income

$8.11 million; increased 5% QoQ and decreased 4% YoY

Quarter ended September 30, 2026

Quarterly diluted EPS

$1.04; increased 6% QoQ and decreased 3% YoY

Quarter ended September 30, 2026

Quarterly net interest margin

3.96%

Compared with 3.85% in the preceding quarter and 3.82% a year earlier

Fiscal-year net interest margin

3.87%

Fiscal year 2026 compared with 3.76% in fiscal year 2025

Quarterly cash dividend

$0.31 per share; increased 3%

Payable November 27, 2026, to shareholders of record November 12, 2026

Common shares repurchased

40,395 shares for $1.85 million

Current quarter

Historical Context

1 past event · Latest: Jul 28

1 event

1. Jul 28

   Quarterly earnings report

   24h Move

   +1.3%

   Q3 FY2026 net income and EPS rose year over year, with net interest margin increasing.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

net interest margin, non-performing assets, tangible book value, non-gaap

4 terms

net interest margin financial

"Quarterly Net Interest Margin Increases to 3.96%"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

non-performing assets financial

"Non-performing assets to total assets ratio was 0.42%"

Loans or other credit exposures that are not producing expected income because borrowers have stopped making scheduled payments for a significant period (commonly around 90 days). Think of it like a business lending money that has gone quiet — the cash flow stops while the lender still carries the debt on its books. High levels of non-performing assets matter to investors because they reduce a lender’s earnings, tie up capital that could be used for growth, and signal higher risk of future losses.

tangible book value financial

"growing tangible book value per share (non-GAAP) to $33.54"

Tangible book value is the accounting measure of a company’s net worth after removing intangible items like goodwill, patents and trademarks, leaving only physical and financial assets minus liabilities. For investors it offers a clearer view of the company’s hard-asset backing per share—like estimating the cash you could get by selling the furniture, machinery and cash in a house—helping gauge downside risk and whether a stock may be cheaply valued.

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non-gaap financial

"tangible book value per share (non-GAAP) to $33.54"

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

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• Fiscal Year EPS Increases 8% to $3.96
• Quarterly EPS Increases 6% to $1.04 from $0.98 for Preceding Quarter
• Quarterly Return on Average Assets Increases to 1.56%
• Quarterly Return on Average Equity Increases to 11.72%
• Quarterly Net Interest Margin Increases to 3.96%
• Quarterly Cash Dividend Increases 3%

HOQUIAM, Wash., Oct. 29, 2026 (GLOBE NEWSWIRE) -- Timberland Bancorp, Inc. (NASDAQ: TSBK) (“Timberland” or “the Company”), the holding company for Timberland Bank (the “Bank”), today reported net income of $31.17 million for the fiscal year ended September 30, 2026, an increase of 7% from $29.16 million for the fiscal year ended September 30, 2025. Earnings per diluted common share (“EPS”) increased 8% to $3.96 for the 2026 fiscal year from $3.67 for the 2025 fiscal year.

Timberland also reported net income of $8.11 million, or $1.04 per diluted common share for the quarter ended September 30, 2026. This compares to net income of $7.72 million, or $0.98 per diluted common share for the preceding quarter, and $8.45 million, or $1.07 per diluted common share, for the comparable quarter one year ago. (Note: net income for the comparable quarter one year ago was increased by a $1.04 million bank owned life insurance benefit claim.)

“We closed out the fiscal year on a high note, delivering record annual earnings per share and a strong fourth quarter,” stated Dean Brydon, Chief Executive Officer. “Net income and earnings per share increased 5% and 6%, respectively, from the prior quarter, while net interest margin widened compared with both the prior quarter and year-ago quarter. While earnings were lower than the year-ago quarter, that period included a $1.04 million BOLI insurance claim, and excluding that benefit, results compared favorably. For the full fiscal year, we also improved our net interest margin and return on average assets while generating solid growth in net loans. We are proud of what our team accomplished this year in serving our customers, communities, and shareholders, and we look forward to building on that progress in the new year.”

“As a result of Timberland’s strong earnings and capital position, our Board of Directors announced a 3% increase to the quarterly cash dividend to shareholders of $0.31 per share, payable on November 27, 2026, to shareholders of record on November 12, 2026,” stated Jonathan Fischer, President and Chief Operating Officer. “Marking our 56th consecutive quarterly cash dividend, this payment reflects the Board’s continued confidence in Timberland’s long-term prospects.”

“Overall, fourth quarter earnings were strong and largely free of non-recurring items,” said Marci Basich, Chief Financial Officer. “Revenue generation was strong and net interest margin expanded 11 basis points from the prior quarter and 14 basis points from the year-ago quarter, reflecting our disciplined approach to pricing on both sides of the balance sheet. We also continued to build shareholder value during the quarter, growing tangible book value per share (non-GAAP) to $33.54, while repurchasing 40,395 shares of our common stock. These actions, combined with the dividend increase, reflect both the strength of our earnings and our confidence in the long-term value of the franchise.”

“Net loans grew 2% from the prior quarter, a testament to the strength of our lending teams and the continued demand we are seeing in our markets,” Brydon continued. “Credit quality held steady with modest improvements in non-performing asset levels, delinquency levels, and substandard loan levels. While net charge-offs increased, that was largely the result of charging off specific reserves we had already set up on several loans in prior periods. Our markets continue to offer solid growth opportunities and we remain confident in the quality of our loan portfolio and our disciplined approach to credit risk management.”

Earnings and Balance Sheet Highlights (at or for the periods ended September 30, 2026, compared to September 30, 2025, or June 30, 2026):

Earnings Highlights:

• • EPS increased 6% to $1.04 for the current quarter from $0.98 for the preceding quarter and decreased 3% from $1.07 for the comparable quarter one year ago;
  • EPS increased 8% to $3.96 for fiscal year 2026 from $3.67 for fiscal year 2025;
  • Net income increased 5% to $8.11 million for the current quarter from $7.72 million for the preceding quarter and decreased 4% from $8.45 million for the comparable quarter one year ago;
  • Net income increased 7% to $31.17 million for the 2026 fiscal year from $29.16 million for the 2025 fiscal year;
  • Return on average equity (“ROE”) and return on average assets (“ROA”) for the current quarter were 11.72% and 1.56%, respectively;
  • Net interest margin (“NIM”) for the current quarter increased to 3.96% from 3.85% for the preceding quarter and 3.82% for the comparable quarter one year ago; and
  • The efficiency ratio for the current quarter was 53.94% compared to 53.40% for the preceding quarter and 53.18% for the comparable quarter one year ago.
    

Balance Sheet Highlights:

• • Total assets increased slightly, less than 1%, from the prior quarter and increased 3% year-over-year;
  • Net loans receivable increased 2% from the prior quarter and increased 4% year-over-year;
  • Total deposits increased slightly, less than 1%, from the prior quarter and increased 3% year-over-year;
  • Total shareholders’ equity increased 1% from the prior quarter and increased 5% year-over-year; 40,395 shares of common stock were repurchased during the current quarter for $1.85 million;
  • Non-performing assets to total assets ratio was 0.42% at September 30, 2026, compared to 0.43% at June 30, 2026, and 0.23% at September 30, 2025;
  • Book and tangible book (non-GAAP) values per common share increased to $35.51 and $33.54, respectively, at September 30, 2026; and
  • Liquidity (both on-balance sheet and off-balance sheet) remained strong at September 30, 2026, with only $5 million in borrowings and additional secured borrowing line capacity of $810 million available through the Federal Home Loan Bank (“FHLB”) and the Federal Reserve.
    

Operating Results

Operating revenue (net interest income before the provision for credit losses plus non-interest income) for the current quarter increased 5% to $22.79 million from $21.79 million for the preceding quarter and increased 1% from $22.49 million for the comparable quarter one year ago. The increase in operating revenue compared to the preceding quarter was primarily due to an increase in interest income on loans receivable, and to a lesser extent, an increase in non-interest income. These increases in operating revenue were partially offset by a decrease in interest income on interest-bearing deposits in banks, and to a lesser extent, an increase in interest expense. Operating revenue increased 6%, to $87.34 million for the 2026 fiscal year from $82.55 million for the 2025 fiscal year, primarily due to increases in interest income on loans receivable and interest income on interest-bearing deposits in banks, and a decrease in interest expense. These increases in operating revenue for the fiscal year were partially offset by decreases in interest income on investment securities and net BOLI earnings.

Net interest income increased $857,000 or 5%, to $19.66 million for the current quarter from $18.81 million for the preceding quarter and increased $1.27 million, or 7%, from $18.40 million for the comparable quarter one year ago. The increase in net interest income compared to the preceding quarter was primarily due to an $11.46 million increase in the average interest-earning assets, a nine-basis point increase in the weighted average yield on interest-bearing assets and, to a lesser extent, a one-basis point decrease in the weighted average cost of interest-bearing liabilities. Net interest income for the 2026 fiscal year increased $5.46 million, or 8%, to $75.66 million from $70.20 million for the 2025 fiscal year, primarily due to an $89.24 million increase in average interest-earning assets and a 17-basis point decrease in the weighted average cost of interest-bearing liabilities.

Timberland’s NIM for the current quarter increased to 3.96% from 3.85% for the preceding quarter and from 3.82% for the comparable quarter one year ago. The NIM for the current quarter was increased by approximately two basis points due to the collection of $94,000 in pre-payment penalties, non-accrual interest, and late fees, and the accretion of $8,000 of the fair value discount on acquired loans. The NIM for the preceding quarter was increased by approximately two basis points due to the collection of $82,000 in pre-payment penalties, non-accrual interest, and late fees, and the accretion of $8,000 of the fair value discount on acquired loans. The NIM for the comparable quarter one year ago was increased by approximately two basis points due to the collection of $102,000 in pre-payment penalties, non-accrual interest, and late fees, and the accretion of $11,000 of the fair value discount on acquired loans. Timberland’s NIM expanded to 3.87% for fiscal year 2026 from 3.76% for fiscal year 2025.

A $475,000 provision for credit losses on loans was recorded for the quarter ended September 30, 2026. The provision was primarily due to loan portfolio growth and changes in the composition of the loan portfolio. This compares to a $600,000 provision for credit losses on loans for the preceding quarter and a $213,000 provision for credit losses on loans for the comparable quarter one year ago.

Non-interest income increased $134,000, or 4%, to $3.12 million for the current quarter from $2.99 million for the preceding quarter and decreased $971,000, or 24%, from $4.09 million for the comparable quarter one year ago. The increase in non-interest income compared to the preceding quarter was primarily due to a $99,000 increase in BOLI net earnings and smaller increases in several other categories. Non-interest income for the 2026 fiscal year decreased by 5%, to $11.68 million from $12.35 million for the 2025 fiscal year. The decrease in non-interest income compared to the prior year periods was primarily the result of a $1.04 million BOLI death benefit claim recorded in the comparable quarter one year ago.

Total operating (non-interest) expenses for the current quarter increased $652,000, or 6%, to $12.29 million from $11.64 million for the preceding quarter and increased $331,000, or 3%, from $11.96 million for the comparable quarter one year ago. The increase in operating expenses compared to the preceding quarter was primarily due to increases in salary and employee benefits expense and ATM and debit card processing expense and smaller decreases and increases in several other expense categories. The efficiency ratio for the current quarter was 53.94% compared to 53.40% for the preceding quarter and 53.18% for the comparable quarter one year ago. For the 2026 fiscal year, operating expenses increased $1.63 million, or 4%, to $47.02 million from $45.39 million for the 2025 fiscal year. The efficiency ratio for the 2026 fiscal year improved to 53.83% from 54.98% for the 2025 fiscal year.

The provision for income taxes for the current quarter increased $32,000, or 2%, to $1.96 million from $1.93 million for the preceding quarter, primarily due to higher taxable income. Timberland’s effective income tax rate was 19.5% for the quarter ended September 30, 2026, compared to 20.0% for the quarter ended June 30, 2026, and 18.1% for the quarter ended September 30, 2025. Timberland’s effective income tax rate was 19.9% for fiscal year 2026 compared to 19.5% for fiscal year 2025.

Balance Sheet Management

Total assets increased $2.97 million, or less than 1%, during the quarter to $2.06 billion at September 30, 2026, from $2.06 billion at June 30, 2026, and increased $51.01 million, or 3%, from $2.01 billion one year ago. The increase during the quarter was primarily due to an increase in net loans receivable, which was partially offset by decreases in total cash and cash equivalents and investment securities.

Liquidity

Timberland has continued to maintain a strong liquidity position, both on-balance sheet and off-balance sheet. Liquidity, as measured by the sum of cash and cash equivalents, CDs held for investment, and available for sale investment securities, was 18.5% of total liabilities at September 30, 2026, compared to 19.3% at June 30, 2026, and 18.8% one year ago. Timberland also had secured borrowing line capacity of $810 million available through the FHLB and the Federal Reserve at September 30, 2026. With a strong and diversified deposit base, only 20% of Timberland’s deposits were uninsured or uncollateralized at September 30, 2026. (Note: This calculation excludes public deposits that are fully collateralized.)

Loans

Net loans receivable increased $30.60 million, or 2%, during the quarter to $1.53 billion at September 30, 2026, from $1.50 billion at June 30, 2026, and increased $62.66 million, or 4%, from $1.46 billion at September 30, 2025. The increase during the quarter was primarily due to an $18.19 million increase in multi-family loans, a $6.33 million increase in one- to four-family loans, a $3.12 million increase in land loans, a $2.04 million increase in commercial business loans, a $1.03 million increase in construction and land development loans, and smaller increases in several other loan categories. These increases were partially offset by a $1.85 million increase in the undisbursed portion of construction loans in process and smaller changes in several other loan categories.

Loan Portfolio ($ in thousands)
	September 30, 2026						June 30, 2026						September 30, 2025
	Amount				Percent		Amount				Percent		Amount				Percent
Mortgage loans:
One- to four-family (a)	$306,251				18%		$299,921				18%		$317,691				20%
Multi-family		232,772			14			214,583			13			207,767			13
Commercial		647,197			39			646,376			40			610,692			39
Construction - custom and
owner/builder		111,294			7			113,303			7			130,341			9
Construction - speculative one-to four-family		26,871			2			28,445			2			10,745			1
Construction - commercial		19,932			1			12,991			1			21,818			1
Construction - multi-family		81,810			5			91,271			6			45,660			3
Construction - land
development		7,660			--			530			--			15,324			1
Land		40,531			3			37,416			2			35,952			2
Total mortgage loans		1,474,318			89			1,444,836			89			1,395,990			89
Consumer loans:
Home equity and second
mortgage		55,447			4			54,971			4			50,479			3
Other		1,758			--			1,915			--			2,034			--
Total consumer loans		57,205			4			56,886			4			52,513			3
Commercial loans:
Commercial business
loans		120,896			7			118,852			7			126,937			8
SBA PPP loans		--			--			--			--			58			--
Total commercial loans		120,896			7			118,852			7			126,995			8
Total loans		1,652,419			100%			1,620,574			100%			1,575,498			100%
Less:
Undisbursed portion of
construction loans in
process		(102,122	)					(100,275	)					(88,289	)
Deferred loan origination
fees		(5,390	)					(5,399	)					(5,528	)
Allowance for credit losses		(18,657	)					(19,249	)					(18,091	)
Total loans receivable, net	$1,526,250						$1,495,651						$1,463,590
(a)   Does not include one- to four-family loans held for sale totaling $2,210, $2,774, and $1,127 at September 30, 2026, June 30, 2026, and September 30, 2025, respectively.

The following table provides a breakdown of commercial real estate (“CRE”) mortgage loans by collateral type as of September 30, 2026:

CRE Loan Portfolio Breakdown by Collateral ($ in thousands)
Collateral Type		Balance			Percent of CRE Portfolio			Percent of Total Loan Portfolio			Average Balance Per Loan			Non-Accrual
Industrial warehouses		$	145,595		23%			9%			$	1,427		$	--
Medical/dental offices			82,329		13			5				1,211			220
Office buildings			74,132		11			4				862			--
Other retail buildings			55,582		9			3				625			--
Hotel/motel			40,568		6			2				2,704			3,842
Mini-storage			38,908		6			2				1,441			--
Restaurants			28,756		4			2				575			--
Gas stations/conv. stores			27,543		4			2				984			--
Nursing homes			13,668		2			1				1,953			--
Churches			13,501		2			1				964			--
Mobile home parks			10,257		2			1				466			--
Shopping centers			10,143		2			1				1,690			--
Additional CRE			106,215		16			6				787			--
Total CRE		$	647,197		100%			39%			$	997		$	4,062

Timberland originated $101.88 million in loans during the quarter ended September 30, 2026, compared to $133.67 million for the preceding quarter and $100.09 million for the comparable quarter one year ago. Timberland continues to originate fixed-rate one- to four-family mortgage loans, a portion of which are sold into the secondary market for asset-liability management purposes and to generate non-interest income. During the current quarter, fixed-rate one- to four-family mortgage loans totaling $9.52 million were sold compared to $7.83 million for the preceding quarter and $9.01 million for the comparable quarter one year ago.

Investment Securities

Timberland’s investment securities and CDs held for investment decreased $8.62 million, or 4%, to $208.28 million at September 30, 2026, from $216.89 million at June 30, 2026, and decreased $14.90 million, or 7% from $223.18 million at September 30, 2025. The decreases were primarily due to the maturities of U.S. Treasury Securities and scheduled amortization, which were partially offset by the purchase of additional CDs and U.S. government agency mortgage-backed investment securities.

Bank Owned Life Insurance (“BOLI”)

BOLI increased $345,000, or 1%, to $37.73 million at September 30, 2026, from $37.39 million at June 30, 2026, and increased $15.90 million, or 73% from $21.83 million at September 30, 2025. The increase during the year was primarily due to $15.00 million in additional BOLI policies purchased during the June 30, 2026 quarter.

Deposits

Total deposits increased $5.58 million, or less than 1%, during the quarter to $1.77 billion at September 30, 2026, from $1.76 billion at June 30, 2026, and increased $52.49 million, or 3%, from $1.72 billion at September 30, 2025. The quarter’s increase consisted of an $11.59 million increase in non-interest-bearing deposit account balances, a $2.85 million increase in money market deposit account balances, and a $2.00 million increase in savings account balances. These increases were partially offset by a $7.88 million decrease in NOW checking account balances and a $2.99 million decrease in certificates of deposit account balances.

Deposit Breakdown ($ in thousands)
	September 30, 2026								June 30, 2026							September 30, 2025
			Amount			Percent				Amount			Percent				Amount				Percent
Non-interest-bearing demand			$422,561			24%				$410,967			23%				$430,685				25%
NOW checking			366,592			21				374,476			21				345,599				20
Savings			200,509			11				198,505			11				201,678				12
Money market			334,229			19				331,375			19				296,152				17
Certificates of deposit under $250			256,675			15				263,668			15				256,597				15
Certificates of deposit $250 and over			148,202			8				144,209			8				142,813				8
Certificates of deposit – brokered			40,359			2				40,349			3				43,111				3
Total deposits			$1,769,127			100%				$1,763,549			100%					$1,716,635			100%

Borrowings

Total borrowings decreased $5.00 million, or 50%, to $5.00 million at September 30, 2026, from $10.00 million at June 30, 2026 and decreased $15.00 million, or 75% at September 30, 2025.

Shareholders’ Equity and Capital Ratios

Total shareholders’ equity increased $3.10 million, or 1%, to $276.31 million at September 30, 2026, from $273.21 million at June 30, 2026, and increased $13.70 million, or 5%, from $262.61 million at September 30, 2025. The increase in shareholders’ equity during the quarter was primarily due to net income of $8.11 million and proceeds from stock option exercises of $325,000. These increases to shareholders’ equity were partially offset by the payment of $2.33 million in dividends to shareholders and the repurchase of 40,395 shares of common stock for $1.85 million (an average price of $45.83 per share), and a $1.43 million increase in the accumulated other comprehensive loss. At September 30, 2026, Timberland had 117,582 shares available to be repurchased in accordance with the terms of its existing stock repurchase plan.

Timberland remains well capitalized with a total risk-based capital ratio of 20.86%, a Tier 1 leverage capital ratio of 12.91%, a tangible common equity to tangible assets ratio (non-GAAP) of 12.74%, and a shareholders’ equity to total assets ratio of 13.39% at September 30, 2026. Timberland’s held to maturity investment securities were $105.35 million at September 30, 2026, with a net unrealized loss of $5.49 million (pre-tax). Although not permitted by U.S. Generally Accepted Accounting Principles (“GAAP”), including these unrealized losses in accumulated other comprehensive income (loss) (“AOCI”) would result in a ratio of shareholders’ equity to total assets of 13.21%, compared to 13.39%, as reported.

Asset Quality
Timberland’s non-performing assets to total assets ratio was 0.42% at September 30, 2026, compared to 0.43% at June 30, 2026, and 0.23% at September 30, 2025. Net charge-offs were $1.07 million for the current quarter compared to net recoveries of $1,000 for the preceding quarter and net charge-offs of less than $1,000 for the comparable quarter one year ago. The increase in charge-offs was primarily the result of charging off specific reserves that had been set up in prior quarters on several loans, including $436,000 on a participation loan. During the current quarter, a $475,000 provision for credit losses on loans was made, which was partially offset by a $45,000 recapture of credit losses on unfunded commitments and a $1,000 recapture of credit losses on investment securities. The allowance for credit losses (“ACL”) for loans as a percentage of loans receivable was 1.21% at September 30, 2026, compared to 1.27% at June 30, 2026, and 1.22% one year ago.

Total delinquent loans (past due 30 days or more) and non-accrual loans decreased $3,000, less than 1%, to $8.70 million at September 30, 2026, from $8.71 million at June 30, 2026, and increased $3.05 million, or 54%, from $5.66 million at September 30, 2025. Non-accrual loans decreased $163,000 or 2%, to $8.39 million at September 30, 2026 from $8.56 million at June 30, 2026, and increased $3.99 million, or 90%, from $4.41 million at September 30, 2025. Loans graded “Substandard” decreased $271,000, or 3%, to $8.39 million at September 30, 2026 from $8.66 million at June 30, 2026 and decreased $24.41 million, or 74%, from $32.80 million at September 30, 2025.

Non-Accrual Loans ($ in thousands)
	September 30, 2026					June 30, 2026					September 30, 2025
	Amount			Quantity		Amount			Quantity		Amount			Quantity
Mortgage loans:
One- to four-family	$	2,878		4		$	1,930		2		$	1,781		1
Multi-family		18		1			--		--			--		--
Commercial		4,062		3			4,534		3			159		1
Construction – custom and
owner/builder		--		--			--		--			553		1
Total mortgage loans		6,958		8			6,464		5			2,493		3
Consumer loans:
Home equity and second
mortgage		618		5			452		4			602		4
Other		--		--			20		1			22		1
Total consumer loans		618		5			472		5			624		5
Commercial business loans		817		7			1,620		8			1,290		9
Total loans	$	8,393		20		$	8,556		18		$	4,407		17

Timberland had two properties classified as other real estate owned (“OREO”) at September 30, 2026:

	September 30, 2026					June 30, 2026					September 30, 2025
	Amount			Quantity		Amount			Quantity		Amount			Quantity
OREO:
Commercial	$	221		1		$	221		1		$	221		1
Land		--		1			--		1			--		1
Total OREO	$	221		2		$	221		2		$	221		2

About Timberland Bancorp, Inc.
Timberland Bancorp, Inc., a Washington corporation, is the holding company for Timberland Bank. The Bank opened for business in 1915 and primarily serves consumers and businesses across Grays Harbor, Thurston, Pierce, King, Kitsap and Lewis counties, Washington with a full range of lending and deposit services through its 24 branches (including its main office in Hoquiam).

Disclaimer
Certain matters discussed in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to our financial condition, results of operations, plans, objectives, future performance or business. Forward-looking statements are not statements of historical fact, are based on certain assumptions and often include the words “believes,” “expects,” “anticipates,” “estimates,” “forecasts,” “intends,” “plans,” “targets,” “potentially,” “probably,” “projects,” “outlook” or similar expressions or future or conditional verbs such as “may,” “will,” “should,” “would” and “could.” Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, assumptions and statements about future economic performance. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause our actual results to differ materially from the results anticipated or implied by our forward-looking statements, including, but not limited to: potential adverse impacts to economic conditions in our local market areas, other markets where the Company has lending relationships, or other aspects of the Company's business operations or financial markets, including, without limitation, as a result of employment levels, labor shortages and the effects of inflation, a potential recession or slowed economic growth; continuing elevated levels of inflation and the impact of current and future monetary policies of the Board of Governors of the Federal Reserve System ("Federal Reserve") in response thereto; the effects of any federal government shutdown; credit risks of lending activities, including any deterioration in the housing and commercial real estate markets which may lead to increased losses and non-performing loans in our loan portfolio resulting in our ACL not being adequate to cover actual losses and thus requiring us to materially increase our ACL through the provision for credit losses; changes in general economic conditions, either nationally or in our market areas; changes in the levels of general interest rates, and the relative differences between short and long-term interest rates, deposit interest rates, our net interest margin and funding sources; fluctuations in the demand for loans, the number of unsold homes, land and other properties and fluctuations in real estate values in our market areas; secondary market conditions for loans and our ability to sell loans in the secondary market; results of examinations of us by the Federal Reserve and of our bank subsidiary by the Federal Deposit Insurance Corporation (“FDIC”), the Washington State Department of Financial Institutions, Division of Banks or other regulatory authorities, including the possibility that any such regulatory authority may, among other things, institute a formal or informal enforcement action against us or our bank subsidiary which could require us to increase our ACL, write-down assets, change our regulatory capital position or affect our ability to borrow funds or maintain or increase deposits or impose additional requirements or restrictions on us, any of which could adversely affect our liquidity and earnings; the impact of bank failures or adverse developments at other banks and related negative press about the banking industry in general on investor and depositor sentiment; legislative or regulatory changes that adversely affect our business including changes in banking, securities and tax law, in regulatory policies and principles, or the interpretation of regulatory capital or other rules; our ability to attract and retain deposits; our ability to control operating costs and expenses; the use of estimates in determining fair value of certain of our assets, which estimates may prove to be incorrect and result in significant declines in valuation; difficulties in reducing risks associated with the loans in our consolidated balance sheet; staffing fluctuations in response to product demand or the implementation of corporate strategies that affect our work force and potential associated charges; disruptions, security breaches, or other adverse events, failures or interruptions in, or attacks on, our information technology systems or on the third-party vendors who perform several of our critical processing functions; our ability to retain key members of our senior management team; costs and effects of litigation, including settlements and judgments; our ability to implement our business strategies; our ability to manage loan delinquency rates; increased competitive pressures among financial services companies; changes in consumer spending, borrowing and savings habits; the availability of resources to address changes in laws, rules, or regulations or to respond to regulatory actions; our ability to pay dividends on our common stock; the quality and composition of our securities portfolio and the impact if any adverse changes in the securities markets, including on market liquidity; inability of key third-party providers to perform their obligations to us; changes in accounting policies and practices, as may be adopted by the financial institution regulatory agencies or the Financial Accounting Standards Board ("FASB"), including additional guidance and interpretation on accounting issues and details of the implementation of new accounting methods; the economic impact of climate change, severe weather events, natural disasters, pandemics, epidemics and other public health crises, acts of war or terrorism, civil unrest and other external events on our business; other economic, competitive, governmental, regulatory, and technological factors affecting our operations, pricing, products and services; and other risks described elsewhere in this press release and in the Company's other reports filed with or furnished to the Securities and Exchange Commission.

Any of the forward-looking statements that we make in this press release and in the other public statements we make are based upon management's beliefs and assumptions at the time they are made. We do not undertake and specifically disclaim any obligation to publicly update or revise any forward-looking statements included in this press release to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements or to update the reasons why actual results could differ from those contained in such statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking statements discussed in this document might not occur and we caution readers not to place undue reliance on any forward-looking statements. These risks could cause our actual results for fiscal 2027 and beyond to differ materially from those expressed in any forward-looking statements by, or on behalf of, us, and could negatively affect the Company's consolidated financial condition and results of operations as well as its stock price performance.

TIMBERLAND BANCORP INC. AND SUBSIDIARY CONSOLIDATED STATEMENTS OF INCOME							Three Months Ended
($ in thousands, except per share amounts) (unaudited)							Sept. 30,								June 30,								Sept. 30,
								2026								2026								2025
	Interest and dividend income
	Loans receivable and loans held for sale						$	23,562							$	22,457							$	22,186
	Investment securities							1,818								1,800								1,992
	Dividends from mutual funds, FHLB stock and other investments							66								71								83
	Interest bearing deposits in banks							2,137								2,343								2,350
	Total interest and dividend income							27,583								26,671								26,611
	Interest expense
	Deposits							7,852								7,728								8,013
	Borrowings							68								137								203
	Total interest expense							7,920								7,865								8,216
	Net interest income							19,663								18,806								18,395
	Provision for credit losses – loans							475								600								213
	Recapture of credit losses – investment securities							(1			)					(1			)					(10	)
	(Recapture of) prov. for credit losses – unfunded commitments							(45			)					(91			)					18
	Net int. income after provision for (recapture of) credit losses							19,234								18,298								18,174
	Non-interest income
	Service charges on deposits							973								956								991
	ATM and debit card interchange transaction fees							1,199								1,193								1,269
	Gain on sales of loans, net							193								150								208
	Bank owned life insurance (“BOLI”) net earnings							345								246								1,200
	Other							412								443								425
	Total non-interest income, net							3,122								2,988								4,093
	Non-interest expense
	Salaries and employee benefits							6,576								6,383								6,029
	Premises and equipment							1,125								1,082								1,114
	Advertising							217								202								208
	OREO and other repossessed assets, net							3								3								3
	ATM and debit card processing							634								532								578
	Postage and courier							149								145								143
	State and local taxes							457								453								432
	Professional fees							418								361								558
	FDIC insurance							220								222								211
	Loan administration and foreclosure							181								155								151
	Technology and communications							1,095								1,109								1,116
	Deposit operations							397								348								350
	Amortization of core deposit intangible (“CDI”)							34								34								45
	Other, net							784								609								1,021
	Total non-interest expense, net							12,290								11,638								11,959
	Income before income taxes							10,066								9,648								10,308
	Provision for income taxes							1,960								1,928								1,861
	Net income						$	8,106							$	7,720							$	8,447
	Net income per common share:
	Basic						$	1.04							$	0.99							$	1.07
	Diluted							1.04								0.98								1.07
	Weighted average common shares outstanding:
	Basic							7,765,413								7,805,218								7,880,299
	Diluted							7,819,576								7,855,407								7,920,617
TIMBERLAND BANCORP INC. AND SUBSIDIARY CONSOLIDATED STATEMENTS OF INCOME							Year Ended
($ in thousands, except per share amounts) (unaudited)							Sept. 30,																Sept. 30,
								2026																2025
	Interest and dividend income
	Loans receivable and loans held for sale						$	90,486															$	85,525
	Investment securities							7,230																8,197
	Dividends from mutual funds, FHLB stock and other investments							295																335
	Interest bearing deposits in banks							9,392																8,220
	Total interest and dividend income							107,403																102,277
	Interest expense
	Deposits							31,135																31,272
	Borrowings							606																805
	Total interest expense							31,741																32,077
	Net interest income							75,662																70,200
	Provision for credit losses – loans							1,615																853
	Recapture of credit losses – investment securities							(7			)													(24	)
	(Recapture of) prov. for credit losses - unfunded commitments							(182			)													105
	Net int. income after provision for (recapture of) credit losses							74,236																69,266
	Non-interest income
	Service charges on deposits							3,853																3,915
	ATM and debit card interchange transaction fees							4,717																4,975
	Gain on sales of investment securities, net							--																24
	Gain on sales of loans, net							657																511
	BOLI net earnings							904																1,702
	Other							1,551																1,225
	Total non-interest income, net							11,682																12,352
	Non-interest expense
	Salaries and employee benefits							25,881																23,922
	Premises and equipment							4,398																4,112
	Advertising							793																761
	OREO and other repossessed assets, net							14																20
	ATM and debit card processing							2,218																2,279
	Postage and courier							592																544
	State and local taxes							1,795																1,682
	Professional fees							1,421																1,676
	FDIC insurance							892																851
	Loan administration and foreclosure							557																534
	Technology and communications							4,435																4,369
	Deposit operations							1,455																1,347
	Amortization of CDI							135																180
	Other, net							2,431																3,110
	Total non-interest expense, net							47,017																45,387
	Income before income taxes							38,901																36,231
	Provision for income taxes							7,727																7,070
	Net income						$	31,174															$	29,161
	Net income per common share:
	Basic						$	3.98															$	3.68
	Diluted							3.96																3.67
	Weighted average common shares outstanding:
	Basic							7,832,774																7,917,193
	Diluted							7,879,899																7,952,626
TIMBERLAND BANCORP INC. AND SUBSIDIARY CONSOLIDATED BALANCE SHEETS
($ in thousands, except per share amounts) (unaudited)			Sept. 30,										June 30,								Sept. 30,
						2026								2026								2025
Assets
Cash and due from financial institutions					$	25,135							$	32,800							$	23,649
Interest-bearing deposits in banks						202,926								213,282								219,779
		Total cash and cash equivalents				228,061								246,082								243,428
Certificates of deposit (“CDs”) held for investment, at cost						12,188								7,964								7,217
Investment securities:
		Held to maturity, at amortized cost (net of ACL – investment securities)				105,347								117,587								136,861
		Available for sale, at fair value				90,743								90,484								78,240
Investments in equity securities, at fair value						--								858								864
FHLB stock						1,428								1,653								2,045
Other investments, at cost						3,000								3,000								3,000
Loans held for sale						2,210								2,774								1,127
Loans receivable						1,544,907								1,514,900								1,481,681
Less: ACL – loans						(18,657			)					(19,249			)					(18,091			)
		Net loans receivable				1,526,250								1,495,651								1,463,590
Premises and equipment, net						22,362								22,149								21,684
OREO and other repossessed assets, net						221								221								221
BOLI						37,734								37,389								21,830
Accrued interest receivable						7,796								7,321								7,393
Goodwill						15,131								15,131								15,131
CDI						135								169								271
Loan servicing rights, net						625								608								815
Operating lease right-of-use assets						4,033								4,122								2,949
Other assets						6,527								7,663								6,113
		Total assets			$	2,063,791							$	2,060,826							$	2,012,779
Liabilities and shareholders’ equity
Deposits: Non-interest-bearing demand					$	422,561							$	410,967							$	430,685
Deposits: Interest-bearing						1,346,566								1,352,582								1,285,950
		Total deposits				1,769,127								1,763,549								1,716,635
Operating lease liabilities						4,246								4,323								3,077
FHLB borrowings						5,000								10,000								20,000
Other liabilities and accrued expenses						9,109								9,748								10,453
		Total liabilities				1,787,482								1,787,620								1,750,165
Shareholders’ equity
Common stock, $.01 par value; 50,000,000 shares authorized; 7,782,243 shares issued and outstanding – September 30, 2026 7,769,668 shares issued and outstanding – June 30, 2026 7,889,571 shares issued and outstanding – September 30, 2025						20,219								21,465								26,305
Retained earnings						258,682								252,908								236,607
Accumulated other comprehensive loss						(2,592			)					(1,167			)					(298			)
		Total shareholders’ equity				276,309								273,206								262,614
		Total liabilities and shareholders’ equity			$	2,063,791							$	2,060,826							$	2,012,779

	Three Months Ended
PERFORMANCE RATIOS:		Sept. 30, 2026				June 30, 2026				Sept. 30, 2025
Return on average assets (a)			1.56	%			1.51	%			1.68	%
Return on average equity (a)			11.72	%			11.42	%			12.97	%
Net interest margin (a)			3.96	%			3.85	%			3.82	%
Efficiency ratio			53.94	%			53.40	%			53.18	%
	Year Ended
		Sept. 30, 2026								Sept. 30, 2025
Return on average assets			1.53	%							1.50	%
Return on average equity			11.55	%							11.56	%
Net interest margin			3.87	%							3.76	%
Efficiency ratio			53.83	%							54.98	%
	At or for the Period Indicated
		Sept. 30, 2026				June 30, 2026				Sept. 30, 2025
ASSET QUALITY RATIOS AND DATA: ($ in thousands)
Non-accrual loans		$	8,393			$	8,556			$	4,407
Loans past due 90 days and still accruing			--				--				--
Non-performing investment securities			28				29				35
OREO and other repossessed assets			221				221				221
Total non-performing assets (b)		$	8,642			$	8,806			$	4,663
Non-performing assets to total assets (b)			0.42	%			0.43	%			0.23	%
Net charge-offs (recoveries) during quarter		$	1,067			$	(1	)		$	--
Allowance for credit losses - loans to non-accrual loans			222	%			225	%			411	%
Allowance for credit losses - loans to loans receivable (c)			1.21	%			1.27	%			1.22	%
CAPITAL RATIOS:
Tier 1 leverage capital			12.91	%			12.82	%			12.59	%
Tier 1 risk-based capital			19.61	%			19.61	%			19.42	%
Common equity Tier 1 risk-based capital			19.61	%			19.61	%			19.42	%
Total risk-based capital			20.86	%			20.86	%			20.67	%
Tangible common equity to tangible assets (non-GAAP)			12.74	%			12.61	%			12.38	%
BOOK VALUES:
Book value per common share		$	35.51			$	35.16			$	33.29
Tangible book value per common share (d)			33.54				33.19				31.33
(a) Annualized (b) Non-performing assets include non-accrual loans, loans past due 90 days and still accruing, non-performing investment securities and OREO and other repossessed assets. (c) Does not include loans held for sale and is before the allowance for credit losses. (d) Tangible common equity divided by common shares outstanding (non-GAAP).

AVERAGE BALANCES, YIELDS, AND RATES - QUARTERLY
($ in thousands)
(unaudited)

	For the Three Months Ended
	Sept. 30, 2026								June 30, 2026									Sept. 30, 2025
	Amount				Rate					Amount				Rate					Amount				Rate
Assets
Loans receivable and loans held for sale	$	1,531,973			6.10		%			$	1,489,910			6.04		%			$	1,470,460			5.99		%
Investment securities and FHLB stock (1)		210,144			3.56						213,161			3.52						228,710			3.60
Interest-earning deposits in banks and CDs		226,443			3.74						254,034			3.70						210,864			4.42
Total interest-earning assets		1,968,560			5.56						1,957,105			5.47						1,910,034			5.53
Other assets		97,418									86,893									79,211
Total assets	$	2,065,978								$	2,043,998								$	1,989,245
Liabilities and Shareholders’ Equity
NOW checking accounts	$	368,508			1.48		%			$	360,166			1.46		%			$	339,838			1.46		%
Money market accounts		333,920			2.76						337,150			2.76						298,102			3.04
Savings accounts		200,064			0.28						197,959			0.27						204,671			0.35
Certificates of deposit accounts		404,859			3.51						405,958			3.51						390,478			3.77
Brokered CDs		41,164			4.09						39,389			4.16						43,118			5.47
Total interest-bearing deposits		1,348,515			2.31						1,340,622			2.31						1,276,207			2.49
Borrowings		6,793			3.97						13,629			4.02						20,000			4.03
Total interest-bearing liabilities		1,355,308			2.32						1,354,251			2.33						1,296,207			2.51
Non-interest-bearing demand deposits		421,432									406,444									423,177
Other liabilities		14,736									12,113									11,542
Shareholders’ equity		274,502									271,190									258,319
Total liabilities and shareholders’ equity	$	2,065,978								$	2,043,998								$	1,989,245
Interest rate spread					3.24		%							3.14		%							3.02		%
Net interest margin (2)					3.96		%							3.85		%							3.82		%
Average interest-earning assets to
average interest-bearing liabilities		145.25	%								144.52	%								147.36	%
(1) Includes other investments (2) Net interest margin = annualized net interest income / average interest-earning assets

AVERAGE BALANCES, YIELDS, AND RATES – YEAR TO DATE
($ in thousands)
(unaudited)

	For the Year Ended
	Sept. 30, 2026									Sept. 30, 2025
	Amount				Rate					Amount				Rate
Assets
Loans receivable and loans held for sale	$	1,493,753			6.06		%			$	1,448,803			5.90		%
Investment securities and FHLB stock (1)		213,750			3.52						235,210			3.57
Interest-earning deposits in banks and CDs		247,984			3.79						182,239			4.51
Total interest-earning assets		1,955,487			5.49						1,866,252			5.48
Other assets		85,658									78,000
Total assets	$	2,041,145								$	1,944,252
Liabilities and Shareholders’ Equity
NOW checking accounts	$	365,557			1.52		%			$	332,392			1.39		%
Money market accounts		321,971			2.77						308,319			3.21
Savings accounts		198,368			0.28						205,488			0.31
Certificates of deposit accounts		403,031			3.58						357,444			3.86
Brokered CDs		39,566			4.20						46,896			5.02
Total interest-bearing deposits		1,328,493			2.34						1,250,539			2.50
Borrowings		15,083			4.02						20,002			4.02
Total interest-bearing liabilities		1,343,576			2.36						1,270,541			2.53
Non-interest-bearing demand deposits		414,642									411,007
Other liabilities		12,976									10,506
Shareholders’ equity		269,951									252,198
Total liabilities and shareholders’ equity	$	2,041,145								$	1,944,252
Interest rate spread					3.13		%							2.95		%
Net interest margin (2)					3.87		%							3.76		%
Average interest-earning assets to
average interest-bearing liabilities		145.54	%								146.89	%
(1) Includes other investments (2) Net interest margin = annualized net interest income / average interest-earning assets

Non-GAAP Financial Measures
In addition to results presented in accordance with GAAP, this press release contains certain non-GAAP financial measures. Timberland believes that certain non-GAAP financial measures provide investors with information useful in understanding the Company’s financial performance; however, readers of this report are urged to review these non-GAAP financial measures in conjunction with GAAP results as reported.

Financial measures that exclude intangible assets are non-GAAP measures. To provide investors with a broader understanding of capital adequacy, Timberland provides non-GAAP financial measures for tangible common equity, along with the GAAP measure. Tangible common equity is calculated as shareholders’ equity less goodwill and CDI. In addition, tangible assets equal total assets less goodwill and CDI.

The following table provides a reconciliation of ending shareholders’ equity (GAAP) to ending tangible shareholders’ equity (non-GAAP) and ending total assets (GAAP) to ending tangible assets (non-GAAP).

($ in thousands)		Sept. 30, 2026				June 30, 2026				Sept. 30, 2025
Shareholders’ equity		$	276,309			$	273,206			$	262,614
Less goodwill and CDI			(15,266	)			(15,300	)			(15,402	)
Tangible common equity		$	261,043			$	257,906			$	247,212
Total assets		$	2,063,791			$	2,060,826			$	2,012,779
Less goodwill and CDI			(15,266	)			(15,300	)			(15,402	)
Tangible assets		$	2,048,525			$	2,045,526			$	1,997,377

Contact: Dean J. Brydon, CEO
Jonathan A. Fischer, President & COO
Marci A. Basich, CFO
(360) 533-4747
www.timberlandbank.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much did Timberland Bancorp earn in fiscal 2026?

Timberland Bancorp earned $31.17 million, or $3.96 per diluted share, for the fiscal year ended September 30, 2026. Net income increased 7% from $29.16 million, while diluted EPS increased 8% from $3.67 in fiscal 2025.

What is Timberland Bancorp’s increased quarterly dividend and when is it payable?

Timberland Bancorp increased its quarterly cash dividend 3% to $0.31 per share, payable November 27, 2026, to shareholders of record November 12, 2026. This is its 56th consecutive quarterly cash dividend.

How much did fees and acquired-loan discounts contribute to Timberland’s quarterly net interest margin?

Fees and acquired-loan discount accretion increased Timberland’s September 2026 quarterly net interest margin by approximately two basis points, or hundredths of a percentage point. Contributions included $94,000 in pre-payment penalties, non-accrual interest and late fees, plus $8,000 of acquired-loan fair value discount accretion.

What share of Timberland Bancorp’s deposits was uninsured or uncollateralized?

20% of Timberland’s deposits were uninsured or uncollateralized at September 30, 2026. That calculation excludes public deposits that are fully collateralized.