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
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Consolidated Statements of Income
| Three Months Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Interest and dividend income | ||
| Loans receivable and loans held for sale | $18,395 | $14,457 |
| Investment securities | 2,311 | 2,214 |
| Dividends from mutual funds, FHLB stock and other investments | 91 | 51 |
| Interest-bearing deposits in banks and CDs | 1,699 | 2,390 |
| Total interest and dividend income | 22,496 | 19,112 |
| Interest expense | ||
| Deposits | 6,143 | 1,369 |
| FHLB borrowings | 349 | — |
| Total interest expense | 6,492 | 1,369 |
| Net interest income | 16,004 | 17,743 |
| Provision for (recapture of) credit losses | ||
| Provision for credit losses - loans | 379 | 525 |
| Recapture of credit losses - investment securities | (10) | — |
| Recapture of credit losses - unfunded commitments | (33) | — |
| Total provision for credit loss - net | 336 | 525 |
| Net interest income after provision for (recapture of) credit losses | 15,668 | 17,218 |
| Non-interest income | ||
| Net recoveries on investment securities | 5 | 3 |
| Service charges on deposits | 1,023 | 947 |
| ATM and debit card interchange transaction fees | 1,264 | 1,251 |
| BOLI net earnings | 156 | 156 |
| Gain on sales of loans, net | 78 | 21 |
| Escrow fees | 19 | 30 |
| Other, net | 253 | 297 |
| Total non-interest income, net | 2,798 | 2,705 |
CONSOLIDATED STATEMENTS OF INCOME (continued)
| Three Months Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Non-interest expense | ||
| Salaries and employee benefits | $5,911 | $5,900 |
| Premises and equipment | 973 | 924 |
| Advertising | 186 | 195 |
| ATM and debit card interchange transaction fees | 615 | 483 |
| Postage and courier | 126 | 121 |
| State and local taxes | 319 | 299 |
| Professional fees | 253 | 429 |
| Federal Deposit Insurance Corporation ("FDIC") insurance | 210 | 124 |
| Loan administration and foreclosure | 105 | 120 |
| Technology and telecommunication expenses | 974 | 789 |
| Deposit operations | 320 | 346 |
| Amortization of CDI | 56 | 68 |
| Other | 576 | 737 |
| Total non-interest expense, net | 10,624 | 10,535 |
| Income before income taxes | 7,842 | 9,388 |
| Provision for income taxes | 1,546 | 1,881 |
| Net income | $6,296 | $7,507 |
| Net income per common share | ||
| Basic | $0.78 | $0.91 |
| Diluted | $0.77 | $0.90 |
| Weighted average common shares outstanding | ||
| Basic | 8,114,209 | 8,232,273 |
| Diluted | 8,166,048 | 8,318,733 |
| Dividends paid per common share | $0.23 | $0.32 |
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