TIMBERLAND BANCORP INC
For the period ended Dec 31, 2023. Filed Feb 12, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2023 · Filed Feb 12, 2024
TSBK$48.06+0.2%Stored close · as of Nov 9, 2026
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Consolidated Balance Sheets
December 31, 2023 and September 30, 2023
| December 31,2023 | September 30,2023 | |
|---|---|---|
| (Unaudited) | * | |
| Assets | ||
| Cash and cash equivalents: | ||
| Cash and due from financial institutions | $28,656 | $25,390 |
| Interest-bearing deposits in banks | 129,365 | 103,331 |
| Total cash and cash equivalents | 158,021 | 128,721 |
| Certificates of deposit (“CDs”) held for investment (at cost, which approximates fair value) | 12,449 | 15,188 |
| Investment securities held to maturity, at amortized cost (net of allowance for credit losses of $82 at December 31, 2023), (estimated fair value of $254,361 and $253,766) | 266,085 | 270,218 |
| Investment securities available for sale, at fair value | 40,446 | 41,771 |
| Investments in equity securities, at fair value | 848 | 811 |
| Federal Home Loan Bank of Des Moines (“FHLB”) stock, at cost | 2,001 | 3,602 |
| Other investments, at cost | 3,000 | 3,000 |
| Loans held for sale | 1,425 | 400 |
| Loans receivable, net of allowance for credit losses of $16,655 and $15,817 | 1,336,283 | 1,302,305 |
| Premises and equipment, net | 21,584 | 21,642 |
| Accrued interest receivable | 6,731 | 6,004 |
| Bank owned life insurance (“BOLI”) | 23,122 | 22,966 |
| Goodwill | 15,131 | 15,131 |
| Core deposit intangible (“CDI”), net | 621 | 677 |
| Loan servicing rights, net | 1,925 | 2,124 |
| Operating lease right-of-use ("ROU") assets | 1,698 | 1,772 |
| Other assets | 3,745 | 3,573 |
| Total assets | $1,895,115 | $1,839,905 |
| Liabilities and shareholders’ equity | ||
| Liabilities | ||
| Deposits: | ||
| Non-interest-bearing demand | $433,065 | $455,864 |
| Interest-bearing | 1,194,004 | 1,105,071 |
| Total deposits | 1,627,069 | 1,560,935 |
| FHLB borrowings | 20,000 | 35,000 |
| Operating lease liabilities | 1,796 | 1,867 |
| Other liabilities and accrued expenses | 8,881 | 9,030 |
| Total liabilities | $1,657,746 | $1,606,832 |
*Derived from audited consolidated financial statements.
CONSOLIDATED BALANCE SHEETS (continued)
December 31, 2023 and September 30, 2023
| December 31,2023 | September 30,2023 | |
|---|---|---|
| (Unaudited) | * | |
| Commitments and contingent liabilities (see Note 12) | ||
| Shareholders’ equity | ||
| Preferred stock, $0.01 par value; 1,000,000 shares authorized; none issued | $— | $— |
| Common stock, $0.01 par value; 50,000,000 shares authorized;8,120,708 shares issued and outstanding - December 31, 2023 8,105,338 shares issued and outstanding - September 30, 2023 | 34,869 | 34,771 |
| Retained earnings | 203,327 | 199,386 |
| Accumulated other comprehensive loss | (827) | (1,084) |
| Total shareholders’ equity | 237,369 | 233,073 |
| Total liabilities and shareholders’ equity | $1,895,115 | $1,839,905 |
*Derived from audited consolidated financial statements.
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