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$48.37+0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
| Three Months Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash flows from operating activities | ||
| Net income | $6,296 | $7,507 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Provision for credit losses | 336 | 525 |
| Depreciation | 356 | 338 |
| Accretion of discount on purchased loans | (10) | (28) |
| Amortization of CDI | 56 | 68 |
| Stock-based compensation expense | 105 | 78 |
| Net recoveries on investment securities | (5) | (3) |
| Change in fair value of investments in equity securities | (37) | (2) |
| Accretion of discounts and premiums on securities | (293) | (298) |
| Gain on sales of loans, net | (78) | (21) |
| Loans originated for sale | (4,742) | (389) |
| Proceeds from sales of loans | 3,795 | 1,158 |
| Amortization of loan servicing rights | 236 | 263 |
| BOLI net earnings | (156) | (156) |
| Increase in deferred loan origination fees | 95 | 211 |
| Net change in accrued interest receivable and other assets, and other liabilities and accrued expenses | (1,087) | 170 |
| Net cash provided by operating activities | 4,867 | 9,421 |
| Cash flows from investing activities | ||
| Net decrease (increase) in CDs held for investment | 2,739 | (498) |
| Purchase of investment securities held to maturity | (1,919) | (14,317) |
| Purchase of investment securities available for sale | — | (16,993) |
| Proceeds from maturities and prepayments of investment securities held to maturity | 6,275 | 2,626 |
| Proceeds from maturities and prepayments of investment securities available for sale | 1,644 | 2,559 |
| Redemption of FHLB stock | 1,601 | — |
| Increase in loans receivable, net | (34,869) | (40,841) |
| Purchases of premises and equipment | (298) | (143) |
| Net cash used in investing activities | (24,827) | (67,607) |
CONSOLIDATED STATEMENTS OF CASH FLOWS (continued)
| Three Months Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash flows from financing activities | ||
| Net increase (decrease) in deposits | $66,134 | $(31,086) |
| Repayments of FHLB borrowings | (15,000) | — |
| Proceeds from exercise of stock options | 355 | 397 |
| Repurchase of common stock | (362) | (348) |
| Payment of dividends | (1,867) | (2,636) |
| Net cash provided by (used in) financing activities | 49,260 | (33,673) |
| Net increase (decrease) in cash and cash equivalents | 29,300 | (91,859) |
| Cash and cash equivalents | ||
| Beginning of period | 128,721 | 316,755 |
| End of period | $158,021 | $224,896 |
| Supplemental disclosure of cash flow information | ||
| Interest paid | $6,206 | $1,180 |
| Supplemental disclosure of non-cash investing activities | ||
| Other comprehensive income (loss) related to investment securities | $257 | $(18) |
| Adjustment to retained earnings, net of deferred tax; - adoption of ASU 2016-13 | $(488) | $— |
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