Timberland Bancorp, Inc.

TSBK: 10-Q · periodic report

Timberland Bancorp (Nasdaq: TSBK) reported fiscal Q3 2026 net income (quarter ended June 30, 2026) of $7.72 million, or $0.98 diluted EPS, up from $7.10 million and $0.90 a year earlier. Nine-month net income rose to $23.07 million ($2.92 diluted) from $20.72 million ($2.60). Net interest income grew to $18.81 million for the quarter from $17.62 million, helped by lower funding costs and loan growth despite Fed rate cuts to a 3.50%-3.75% fed funds range. Total assets reached $2.06 billion, with deposits up 2.7% to $1.76 billion and net loans receivable at $1.50 billion. Credit quality is the watch item: non-performing assets jumped 88.8% to $8.81 million (0.43% of total assets), driven by a $4.31 million hotel/motel commercial real estate loan placed on non-accrual, though substandard loans fell sharply to $8.66 million from $32.81 million. Capital returns continued with 70,000 shares repurchased at an average $40.49 in the quarter ($6.97 million for 179,303 shares over nine months), leaving 157,977 shares under the July 2025 buyback program, and the quarterly dividend rose to $0.29 from $0.26.

SEC 10-Q•2mo ago

Timberland Bancorp Reports Third Fiscal Quarter Net Income of $7.72 Million

Timberland Bancorp reported fiscal Q3 net income of $7.72 million, or $0.98 per diluted share, up 9% year-over-year. Net interest margin expanded to 3.85% and operating revenue grew 6% to $21.79 million, supported by a 4% increase in net loans receivable. The Board of Directors declared a 3% increase in the quarterly cash dividend to $0.30 per share, marking the 55th consecutive quarter of dividend payments. Additionally, the company repurchased 70,000 shares of common stock during the quarter for $2.83 million. Total assets increased to $2.06 billion, while asset quality remained strong with non-performing assets comprising just 0.43% of total assets. The company remains well capitalized with a total risk-based capital ratio of 20.87%.

•2mo ago