$TSBK
TIMBERLAND BANCORP INC
CIK:0001046050|SEC Filings
Consolidated Statements of Income - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Interest and dividend income | ||||
| Loans receivable and loans held for sale | $ 22,457,000 | $ 21,411,000 | $ 66,924,000 | $ 63,339,000 |
| Investment securities | 1,800,000 | 2,064,000 | 5,413,000 | 6,205,000 |
| Dividends from mutual funds, FHLB stock and other investments | 71,000 | 83,000 | 229,000 | 252,000 |
| Interest-bearing deposits in banks and CDs | 2,343,000 | 1,986,000 | 7,255,000 | 5,870,000 |
| Total interest and dividend income | 26,671,000 | 25,544,000 | 79,821,000 | 75,666,000 |
| Interest expense | ||||
| Deposits | 7,728,000 | 7,721,000 | 23,284,000 | 23,259,000 |
| FHLB borrowings | 137,000 | 201,000 | 538,000 | 602,000 |
| Total interest expense | 7,865,000 | 7,922,000 | 23,822,000 | 23,861,000 |
| Net interest income | 18,806,000 | 17,622,000 | 55,999,000 | 51,805,000 |
| Provision for (recapture of) credit losses | ||||
| Provision for credit losses - loans | 600,000 | 351,000 | 1,140,000 | 640,000 |
| Recapture of credit losses - investment securities | (1,000) | (4,000) | (6,000) | (14,000) |
| Provision for (recapture of) credit losses - unfunded commitments | (91,000) | 93,000 | (137,000) | 87,000 |
| Total provision for (recapture of) credit losses - net | 508,000 | 440,000 | 997,000 | 713,000 |
| Net interest income after provision for (recapture of) credit losses | 18,298,000 | 17,182,000 | 55,002,000 | 51,092,000 |
| Non-interest income | ||||
| Net recoveries on investment securities | 23,000 | 2,000 | 39,000 | 9,000 |
| Gain on sale of investment securities available for sale, net | 0 | 24,000 | 0 | 24,000 |
| BOLI net earnings | 246,000 | 171,000 | 559,000 | 502,000 |
| Gain on sales of loans, net | 150,000 | 138,000 | 464,000 | 303,000 |
| Other, net | 266,000 | 241,000 | 770,000 | 624,000 |
| Total non-interest income, net | 2,988,000 | 2,875,000 | 8,560,000 | 8,259,000 |
| Non-interest expense | ||||
| Salaries and employee benefits | 6,383,000 | 5,825,000 | 19,305,000 | 17,893,000 |
| Premises and equipment | 1,082,000 | 973,000 | 3,273,000 | 2,998,000 |
| Advertising | 202,000 | 182,000 | 576,000 | 552,000 |
| OREO and other repossessed assets, net | 3,000 | 8,000 | 11,000 | 17,000 |
| ATM and debit card interchange transaction fees | 532,000 | 658,000 | 1,584,000 | 1,700,000 |
| Postage and courier | 145,000 | 137,000 | 443,000 | 401,000 |
| State and local taxes | 453,000 | 570,000 | 1,338,000 | 1,251,000 |
| Professional fees | 361,000 | 341,000 | 1,003,000 | 1,118,000 |
| Federal Deposit Insurance Corporation ("FDIC") insurance | 222,000 | 211,000 | 671,000 | 640,000 |
| Loan administration and foreclosure | 155,000 | 99,000 | 376,000 | 383,000 |
| Technology and communications | 1,109,000 | 993,000 | 3,340,000 | 3,253,000 |
| Deposit operations | 348,000 | 345,000 | 1,058,000 | 997,000 |
| Amortization of CDI | 34,000 | 45,000 | 102,000 | 135,000 |
| Other | 609,000 | 780,000 | 1,647,000 | 2,090,000 |
| Total non-interest expense, net | 11,638,000 | 11,167,000 | 34,727,000 | 33,428,000 |
| Income before income taxes | 9,648,000 | 8,890,000 | 28,835,000 | 25,923,000 |
| Provision for income taxes | 1,928,000 | 1,790,000 | 5,767,000 | 5,208,000 |
| Net income | $ 7,720,000 | $ 7,100,000 | $ 23,068,000 | $ 20,715,000 |
| Net income per common share | ||||
| Basic (in dollars per share) | $ 0.99 | $ 0.90 | $ 2.94 | $ 2.61 |
| Diluted (in dollars per share) | $ 0.98 | $ 0.90 | $ 2.92 | $ 2.60 |
| Weighted average common shares outstanding | ||||
| Basic (in shares) | 7,805,218 | 7,893,308 | 7,855,474 | 7,929,626 |
| Diluted (in shares) | 7,855,407 | 7,921,762 | 7,900,228 | 7,963,412 |
| Deposit Account | ||||
| Non-interest income | ||||
| Revenue from contract with customer | $ 956,000 | $ 966,000 | $ 2,879,000 | $ 2,924,000 |
| Credit and Debit Card | ||||
| Non-interest income | ||||
| Revenue from contract with customer | 1,193,000 | 1,262,000 | 3,518,000 | 3,706,000 |
| Asset Management | ||||
| Non-interest income | ||||
| Revenue from contract with customer | 42,000 | 32,000 | 94,000 | 66,000 |
| Servicing Income On Loans Sold | ||||
| Non-interest income | ||||
| Revenue from contract with customer | $ 112,000 | $ 39,000 | $ 237,000 | $ 101,000 |