T
TIMBERLAND BANCORP INC
TSBKCIK 0001046050NasdaqAcceleratedSmaller ReportingSavings Institutions, Not Federally CharteredWashingtonFY ends Sep 30
Period
FY 2025
Revenue
—
Net Income
$29.16M
Total Assets
$2.01B
Equity
$262.61M
Shares Out
7.83M
Op. Cash Flow
$30.16M
Business
Timberland Bancorp, Inc. is a Washington bank holding company for Timberland Bank, a community-oriented state-chartered savings bank. The Bank offers a full range of lending and deposit services through 23 branches across six Washington counties. Its lending activities concentrate on real estate mortgage loans—residential, commercial, and construction—along with adjustable-rate mortgages, multi-family loans, land loans, consumer loans, and commercial business loans. The Bank attracts deposits through various consumer and commercial accounts and generates revenue primarily from interest income on loans and investments.
Summary from 10-K filed 2025-12-09
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-09-30 | FY 2024 2024-09-30 | FY 2023 2023-09-30 | FY 2022 2022-09-30 | FY 2021 2021-09-30 |
|---|---|---|---|---|---|---|
| Loans receivable and loans held for sale | 86 | 77 | 63 | 51 | 53 | |
| Investment securities | 8 | 9 | 9 | 3 | 1 | |
| Dividends from mutual funds, FHLB stock and other investments | 335,000 | 361,000 | 270,000 | 120,000 | 111,000 | |
| Interest-bearing deposits in banks and CDs | 8 | 8 | 7 | 4 | 1 | |
| Total interest and dividend income | 102 | 95 | 80 | 59 | 55 | |
| Deposits | 31 | 30 | 11 | 3 | 3 | |
| FHLB borrowings | 805,000 | 999,000 | 290,000 | 17,000 | 91,000 | |
| Total interest expense | 32 | 31 | 12 | 3 | — | |
| Net interest income | 70 | 64 | 68 | 56 | 52 | |
| Provision for credit losses - loans | 853,000 | 1 | 2 | 270,000 | — | |
| Recapture of credit losses - investment securities | −24,000 | −32,000 | 0 | 0 | — | |
| Provision for (recapture of) credit losses - unfunded commitments | 105,000 | −71,000 | 0 | 0 | — | |
| Total provision for credit losses - net | 934,000 | 1 | 2 | — | — | |
| Net interest income after provision for (recapture of) credit losses | 69 | 63 | 66 | 56 | 52 | |
| Net recoveries on investment securities | 14,000 | 12,000 | 9,000 | 22,000 | 20,000 | |
| Gain on sales of investment securities, net | 24,000 | 0 | 95,000 | 0 | 0 | |
| BOLI net earnings | 2 | 645,000 | 706,000 | 613,000 | 597,000 | |
| Gain on sales of loans, net | 511,000 | 322,000 | 244,000 | 2 | 6 | |
| Other, net | 975,000 | 895,000 | 963,000 | 975,000 | 1 | |
| Total non-interest income, net | 12 | 11 | 11 | 13 | 17 | |
| Salaries and employee benefits | 24 | 24 | 24 | 21 | 19 | |
| Premises and equipment | 4 | 4 | 4 | 4 | 4 | |
| Gain on sales/dispositions of premises and equipment, net | 0 | −2,000 | −19,000 | 13,000 | 0 | |
| Advertising | 761,000 | 761,000 | 786,000 | 695,000 | 625,000 | |
| OREO and other repossessed assets, net | 20,000 | 5,000 | 1,000 | −17,000 | −87,000 | |
| ATM and debit card interchange transaction fees | 2 | 2 | 2 | 2 | 2 | |
| Postage and courier | 544,000 | 538,000 | 532,000 | 577,000 | 587,000 | |
| Amortization of CDI | 180,000 | 226,000 | 271,000 | 316,000 | 361,000 | |
| State and local taxes | 2 | 1 | 1 | 1 | 1 | |
| Professional fees | 2 | 1 | 2 | 2 | 1 | |
| Federal Deposit Insurance Corporation ("FDIC") insurance | 851,000 | 833,000 | 711,000 | 506,000 | 415,000 | |
| Loan administration and foreclosure | 534,000 | 521,000 | 503,000 | 508,000 | 471,000 | |
| Technology and communications | 4 | 4 | 4 | 3 | 3 | |
| Deposit operations | 1 | 2 | 1 | 1 | 1 | |
| Other | 3 | 2 | 3 | 3 | 2 | |
| Total non-interest expense, net | 45 | 44 | 43 | 39 | 35 | |
| Income before income taxes and equity in undistributed income of Bank | 36 | 30 | 34 | 30 | 34 | |
| Provision for income taxes | 7 | 6 | 7 | 6 | 7 | |
| Net income | 29 | 24 | 27 | 24 | 28 | |
| Basic (in dollars per share) | 3.68 | 3.02 | 3.32 | 2.84 | 3.31 | |
| Diluted (in dollars per share) | 3.67 | 3.01 | 3.29 | 2.82 | 3.27 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-09-30 | FY 2024 2024-09-30 | FY 2023 2023-09-30 | FY 2022 2022-09-30 | FY 2021 2021-09-30 |
|---|---|---|---|---|---|---|
| Cash and due from financial institutions | 24 | 29 | 25 | 25 | 26 | |
| Interest-bearing deposits in banks | 220 | 136 | 103 | 292 | 554 | |
| Total cash and cash equivalents | 243 | 165 | 129 | 317 | 580 | |
| Certificates of deposit (CDs) held for investment, at cost | 7 | 10 | 15 | 23 | 28 | |
| Amortized Cost | 137 | 172 | 270 | — | — | |
| Investment securities available for sale, at fair value | 78 | 72 | 42 | 41 | 63 | |
| Investments in equity securities | 864,000 | 866,000 | 811,000 | 835,000 | 955,000 | |
| Federal Home Loan Bank of Des Moines (FHLB) stock, at cost | 2 | 2 | 4 | 2 | 2 | |
| Other investments, at cost | 3 | 3 | 3 | 3 | 3 | |
| Loans held for sale | 1 | 0 | 400,000 | 748,000 | 3 | |
| Loans receivable, net of ACL of $18,091 and $17,478 | 1,464 | 1,422 | — | — | — | |
| Premises and equipment, net | 22 | 21 | 22 | 22 | 22 | |
| Other real estate owned (OREO) and other repossessed assets, net | 221,000 | 0 | 0 | 0 | 157,000 | |
| Accrued interest receivable | 7 | 7 | 6 | 4 | 4 | |
| Bank owned life insurance (BOLI) | 22 | 24 | 23 | 23 | 22 | |
| Goodwill | 15 | 15 | 15 | 15 | 15 | |
| Core deposit intangible (CDI), net | 271,000 | 451,000 | 677,000 | 948,000 | 1 | |
| Loan servicing rights, net | 815,000 | 1 | 2 | 3 | 3 | |
| Operating lease right-of-use ("ROU") assets | 3 | 1 | 2 | 2 | 2 | |
| Other assets | 6 | 6 | 4 | 3 | 3 | |
| Total assets | 2,013 | 1,923 | 1,840 | 1,861 | 1,792 | |
| Non-interest-bearing demand | 431 | 413 | 456 | 530 | 535 | |
| Interest-bearing | 1,286 | 1,235 | 1,105 | 1,102 | 1,035 | |
| Total deposits | 1,717 | 1,648 | 1,561 | 1,632 | 1,571 | |
| Operating lease liabilities | 3 | 2 | 2 | 2 | 2 | |
| FHLB borrowings | 20 | 20 | 35 | 0 | 5 | |
| Other liabilities and accrued expenses | 10 | 9 | 9 | 8 | 7 | |
| Total liabilities | 1,750 | 1,678 | 1,607 | 1,642 | 1,585 | |
| Commitments and contingencies (See Note 16) | — | — | — | — | — | |
| Preferred stock, $0.01 par value; 1,000,000 shares authorized; none issued | 0 | 0 | 0 | 0 | 0 | |
| Common stock, $0.01 par value; 50,000,000 shares authorized; 7,889,571 shares issued and outstanding - September 30, 2025 7,960,127 shares issued and outstanding - September 30, 2024 | 26 | 30 | 35 | 39 | 43 | |
| Retained earnings | 237 | 216 | 199 | 181 | 164 | |
| Accumulated other comprehensive (loss) income | −298,000 | 20,000 | −1 | −717,000 | 59,000 | |
| Total shareholders equity | 263 | 245 | 233 | 219 | 207 | |
| Total liabilities and shareholders equity | 2,013 | 1,923 | 1,840 | 1,861 | 1,792 | |
| Preferred stock par value (in dollars per share) | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | |
| Preferred stock shares authorized (in shares) | 1 | 1 | 1 | 1 | 1 | |
| Common stock par value (in dollars per share) | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | |
| Common stock shares authorized (in shares) | 50 | 50 | 50 | 50 | 50 | |
| Preferred stock shares issued (in shares) | 0 | 0 | 0 | 0 | 0 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-09-30 | FY 2024 2024-09-30 | FY 2023 2023-09-30 | FY 2022 2022-09-30 | FY 2021 2021-09-30 |
|---|---|---|---|---|---|---|
| Depreciation | 2 | 1 | 1 | 1 | 2 | |
| Deferred income taxes | −383,000 | −383,000 | −291,000 | −177,000 | 275,000 | |
| Accretion of discount on purchased loans | −104,000 | −37,000 | −75,000 | −182,000 | −340,000 | |
| Stock-based compensation expense | 537,000 | 390,000 | 320,000 | 246,000 | 173,000 | |
| Change in fair value of investments in equity securities | 2,000 | −55,000 | 24,000 | 120,000 | 22,000 | |
| Accretion of discounts and premiums on securities | −1 | −1 | −1 | −39,000 | 118,000 | |
| Gain on sales/dispositions of premises and equipment, net | 0 | −2,000 | −19,000 | 13,000 | 0 | |
| Loans originated for sale | −23 | −14 | −11 | −55 | −133 | |
| Proceeds from sales of loans | 23 | 15 | 12 | 59 | 140 | |
| Amortization of loan servicing rights | 777,000 | 894,000 | 1 | 1 | 1 | |
| BOLI net earnings | −662,000 | −645,000 | −627,000 | −613,000 | −597,000 | |
| BOLI death benefit in excess of cash surrender value | −1 | 0 | −79,000 | 0 | 0 | |
| Increase in deferred loan origination fees | 103,000 | 182,000 | 921,000 | −822,000 | −1 | |
| Net change in accrued interest receivable and other assets, and other liabilities and accrued expenses | 2 | −4 | −112,000 | −1 | −411,000 | |
| Net cash provided by operating activities | 30 | 23 | 31 | 27 | 30 | |
| Net decrease in CDs held for investment | 3 | 5 | 8 | 6 | 37 | |
| Purchase of investment securities held to maturity | −5 | −2 | −16 | −209 | −53 | |
| Purchase of investment securities available for sale | −47 | −43 | −17 | 0 | −19 | |
| Proceeds from maturities and prepayments of investment securities held to maturity | 41 | 101 | 13 | 12 | 12 | |
| Proceeds from maturities and prepayments of investment securities available for sale | 28 | 14 | 7 | 20 | 13 | |
| Proceeds from sales of investment securities available for sale | 14 | 0 | 9 | 0 | 0 | |
| Purchase of FHLB stock | −8,000 | 0 | −1 | −91,000 | −181,000 | |
| Proceeds from redemption of FHLB stock | 0 | 2 | 0 | 0 | — | |
| Increase in loans receivable, net | −43 | −121 | −173 | −163 | 47 | |
| Purchase of premises and equipment | −2 | −1 | −1 | −911,000 | −895,000 | |
| Proceeds from sales/dispositions of premises and equipment | 0 | 8,000 | 0 | 0 | 0 | |
| Proceeds from death benefit on BOLI | 3 | 0 | 546,000 | 0 | 0 | |
| Net cash used in investing activities | −8 | −46 | −170 | −335 | 37 | |
| Net increase (decrease) in deposits | 69 | 87 | −71 | 62 | 212 | |
| (Repayment of) proceeds from FHLB borrowings | 0 | −15 | 35 | — | — | |
| Proceeds from exercise of stock options | 2 | 659,000 | 698,000 | 415,000 | 631,000 | |
| Repurchase of common stock, net of tax | −6 | −6 | −5 | −5 | −527,000 | |
| Payment of dividends | −8 | −8 | −8 | −7 | −9 | |
| Net cash provided by (used in) financing activities | 57 | 59 | −49 | 45 | 199 | |
| Net increase (decrease) in cash and cash equivalents | 79 | 36 | −188 | −263 | 266 | |
| Income taxes paid | 8 | 6 | 7 | 5 | 6 | |
| Interest paid | 32 | 30 | 10 | 3 | 3 | |
| Loans transferred to OREO and other repossessed assets | 221,000 | 0 | 0 | — | 0 | |
| Operating lease liabilities arising from recording of ROU assets | 2 | 0 | 72,000 | 0 | 0 | |
| Adjustment to retained earnings, net of deferred tax - adoption of ASU 2016-13 | 0 | −488,000 | 0 | 0 | — |
Filings
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Frequently asked questions
What is TIMBERLAND BANCORP INC's CIK number?
TIMBERLAND BANCORP INC's SEC CIK number is 0001046050 (1046050). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find TIMBERLAND BANCORP INC's SEC filings?
All of TIMBERLAND BANCORP INC's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did TIMBERLAND BANCORP INC last report earnings?
TIMBERLAND BANCORP INC (TSBK) most recently filed an earnings 8-K with the SEC on Apr 30, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0000939057-26-000094). This is TIMBERLAND BANCORP INC's most recent earnings filing of record — not a forecast of its next earnings date.
What is TIMBERLAND BANCORP INC's most recent earnings 8-K?
TIMBERLAND BANCORP INC's latest earnings 8-K (Item 2.02) was filed Apr 30, 2026 under accession 0000939057-26-000094. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View TIMBERLAND BANCORP INC's latest earnings 8-K →
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