Quarterly ResultApr 28, 2026, 06:43 PM
TSBK Q1 EPS $0.90, +6% YoY; Net Income $7.13M
AI Summary
Timberland Bancorp, Inc. reported net income of $7.13 million, or $0.90 per diluted common share, for the quarter ended March 31, 2026, representing a 6% increase year-over-year. However, net income and EPS were down 13% from the preceding quarter, primarily due to higher provision for credit losses and a modest reduction in net interest income. The company's Board of Directors declared a quarterly cash dividend of $0.29 per share, demonstrating confidence in its long-term outlook. While deposits and total assets showed growth, the non-performing assets ratio increased, driven by an isolated participation loan.
Key Highlights
- TSBK Q1 diluted EPS increased 6% to $0.90 from $0.85 year-over-year, but decreased 13% from $1.04 sequentially.
- Net income for Q1 increased 6% to $7.13 million year-over-year, but decreased 13% from $8.22 million sequentially.
- Board declared a quarterly cash dividend of $0.29 per share, marking the 54th consecutive quarter of dividend payments.
- Net interest margin (NIM) was 3.81%, up 2 basis points year-over-year but down 4 basis points sequentially.
- Total deposits grew 2% from the prior quarter and 6% year-over-year.
- Total assets increased 2% from the prior quarter and 6% year-over-year.
- Non-performing assets to total assets ratio increased to 0.47% from 0.23% in the prior quarter.
- Repurchased 80,000 shares of common stock for $3.09 million during the quarter.