Timberland Bancorp, Inc. (TSBK) 10-Year Financial Performance & Capital Metrics

TSBK • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingWest Coast Community Banks

AboutTimberland Bancorp, Inc. operates as the bank holding company for Timberland Bank that provides various community banking services in Washington. It offers various deposit products, including money market deposit, checking, and regular savings accounts, as well as certificates of deposit. The company also provides one-to four-family residential, multi-family, commercial real estate, construction, custom and owner/builder construction, speculative one- to four-family construction, commercial construction, multi-family construction, land development construction, and land development loans. In addition, it offers consumer loans comprising home equity lines of credit and second mortgage loans; and automobile loans, boat loans, motorcycle loans, recreational vehicle loans, savings account loans, and unsecured loans, as well as commercial business loans. As of September 30, 2021, the company operated 24 branches located in Grays Harbor, Pierce, Thurston, Kitsap, King, and Lewis counties in Washington; and operated 25 proprietary automated teller machines. Timberland Bancorp, Inc. was founded in 1915 and is headquartered in Hoquiam, Washington.Show more

Net Interest Income $64M -6.3%
Total Revenue $102M +16.4%
Net Income $24M -10.5%
Return on Equity 10.15% -15.5%
Net Interest Margin 3.32% -10.4%
Efficiency Ratio 38.7% -14.6%
ROA 1.29% -12.0%
Equity / Assets 12.76% +0.7%
Book Value per Share 30.37 +7.5%
Tangible BV/Share 28.27 +8.4%
Debt/Equity 0.09 -44.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Efficient operations: 38.7% efficiency ratio
✓Well capitalized: 12.8% equity/assets
✓Healthy dividend yield of 2.6%
✓Share count reduced 2.0% through buybacks
✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y10.9%

5Y8.75%

3Y13.96%

TTM-

Profit (Net Income) CAGR

10Y15.3%

5Y0.22%

3Y-4.16%

TTM10.17%

EPS CAGR

10Y14.17%

5Y1.17%

3Y-2.72%

TTM12.58%

ROCE

10Y Avg14.99%

5Y Avg14.33%

3Y Avg12.91%

Latest11.27%

Peer Comparison

West Coast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BCALSouthern California Bancorp	608.64M	18.83	85.59	45.45%	2.94%	11.23%	8.17%	0.17
CWBCCommunity West Bancshares	447.97M	23.38	51.96	51.89%	4.67%	6.95%	3.83%	0.56
GBCIGlacier Bancorp, Inc.	6.29B	48.39	28.80	11.64%	15.27%	6.57%	3.34%	1.18
GBFHGBank Financial Holdings Inc.	465.21M	32.36	23.28	2%	30.99%	11.8%	5.65%	0.22
BOHBank of Hawaii Corporation	2.86B	71.86	20.77	6.6%	14.57%	10.28%	5.9%	0.45
HFWAHeritage Financial Corporation	867.93M	25.56	20.61	4.64%	13.64%	6.33%	7.03%	0.47
HTBKHeritage Commerce Corp	786.28M	12.82	19.42	3.35%	16.12%	6.19%	4.75%	0.06
NRIMNorthrim BanCorp, Inc.	640.63M	29.00	17.47	23.77%	18.87%	19.99%		0.15

Profit & Loss

	Sep 2015	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024
Net Interest Income+	27.25M	30.7M	35.05M	38.94M	51M	50.75M	51.75M	55.71M	68.09M	63.81M
NII Growth %	0.05%	0.13%	0.14%	0.11%	0.31%	-0%	0.02%	0.08%	0.22%	-0.06%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	31.14M	34.77M	38.25M	41.71M	55.56M	55.45M	54.85M	58.39M	79.68M	94.46M
Interest Expense	3.89M	4.07M	3.2M	2.78M	4.57M	4.7M	3.1M	2.67M	11.59M	30.66M
Loan Loss Provision	-1.52M	0	-1.25M	0	4K	3.92M	-110K	151K	2.13M	1.18M
Non-Interest Income+	7.25M	8.38M	9.77M	9.84M	11.18M	14.35M	13.77M	8.94M	7.55M	7.08M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	38.39M	43.15M	48.02M	51.55M	66.75M	69.8M	68.62M	67.33M	87.23M	101.55M
Revenue Growth %	0.06%	0.12%	0.11%	0.07%	0.29%	0.05%	-0.02%	-0.02%	0.3%	0.16%
Non-Interest Expense	23.54M	24.03M	24.83M	26.35M	32.26M	30.87M	31.2M	34.94M	39.52M	39.3M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	12.48M	15.05M	21.24M	22.42M	29.92M	30.31M	34.43M	29.56M	33.99M	30.39M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.44%	0.21%	0.41%	0.06%	0.33%	0.01%	0.14%	-0.14%	0.15%	-0.11%
Pretax Income+	12.48M	15.05M	21.24M	22.42M	29.92M	30.31M	34.43M	29.56M	33.99M	30.41M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	4.19M	4.9M	7.08M	5.7M	5.9M	6.04M	6.84M	5.96M	6.88M	6.12M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	8.29M	10.15M	14.17M	16.72M	24.02M	24.27M	27.58M	23.6M	27.12M	24.28M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.42%	0.22%	0.4%	0.18%	0.44%	0.01%	0.14%	-0.14%	0.15%	-0.1%
Net Income (Continuing)	8.29M	10.15M	14.17M	16.72M	24.02M	24.27M	27.58M	23.6M	27.12M	24.28M
EPS (Diluted)+	1.17	1.43	1.92	2.22	2.84	2.88	3.27	2.82	3.29	3.01
EPS Growth %	0.46%	0.22%	0.34%	0.16%	0.28%	0.01%	0.14%	-0.14%	0.17%	-0.09%
EPS (Basic)	1.20	1.48	1.99	2.28	2.89	2.91	3.31	2.84	3.32	3.02
Diluted Shares Outstanding	7.07M	7.11M	7.38M	7.53M	8.47M	8.42M	8.44M	8.38M	8.25M	8.08M

Balance Sheet

	Sep 2015	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	140.9M	161.94M	191.22M	212.15M	221.36M	380M	608.68M	339.65M	143.91M	174.94M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	616.63M	675.6M	705.34M	744.14M	950.33M	1.11B	1.11B	1.45B	1.62B	1.67B
Investments Growth %	0.07%	0.1%	0.04%	0.06%	0.28%	0.17%	-0%	0.3%	0.12%	0.03%
Long-Term Investments	615.24M	674.26M	704.1M	742.99M	927.79M	1.05B	1.04B	1.4B	1.58B	1.6B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	5.65M	5.65M	5.65M	5.65M	15.13M	15.13M	15.13M	15.13M	15.13M	15.13M
Intangible Assets	1.48M	1.57M	1.82M	2.03M	4.44M	4.72M	4.75M	3.97M	2.8M	1.82M
PP&E (Net)	16.85M	16.16M	18.42M	18.95M	22.83M	25.62M	24.65M	23.88M	23.41M	22.96M
Other Assets	32.13M	28.11M	27.05M	32.49M	29.45M	27.87M	27.33M	28.36M	30.14M	31.89M
Total Current Assets	144.46M	165.63M	194.98M	216.19M	247.49M	442.39M	675.6M	385.55M	191.68M	254.18M
Total Non-Current Assets	671.35M	725.76M	757.04M	802.11M	999.64M	1.12B	1.12B	1.47B	1.65B	1.67B
Total Assets+	815.82M	891.39M	952.02M	1.02B	1.25B	1.57B	1.79B	1.86B	1.84B	1.92B
Asset Growth %	0.09%	0.09%	0.07%	0.07%	0.22%	0.26%	0.14%	0.04%	-0.01%	0.05%
Return on Assets (ROA)	0.01%	0.01%	0.02%	0.02%	0.02%	0.02%	0.02%	0.01%	0.01%	0.01%
Accounts Payable	1.89M	2.03M	1.99M	2.89M	4.71M	4.2M	4.29M	4.91M	6.39M	6.34M
Total Debt+	45M	30M	0	0	0	12.63M	7.36M	2.07M	36.87M	21.57M
Net Debt	-95.9M	-131.94M	-191.22M	-212.15M	-221.36M	-367.37M	-601.32M	-337.58M	-107.04M	-153.36M
Long-Term Debt	45M	30M	0	0	0	10M	5M	0	35M	20M
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Other Liabilities	0	0	0	0	0	0	0	0	0	2.48M
Total Current Liabilities	681.63M	764.55M	841.02M	893.63M	1.08B	1.37B	1.58B	1.64B	1.57B	1.65B
Total Non-Current Liabilities	45M	30M	0	0	0	12.63M	7.36M	2.07M	36.87M	24.06M
Total Liabilities	726.63M	794.55M	841.02M	893.63M	1.08B	1.38B	1.59B	1.64B	1.61B	1.68B
Total Equity+	89.19M	96.83M	111M	124.66M	171.07M	187.63M	206.9M	218.57M	233.07M	245.41M
Equity Growth %	0.08%	0.09%	0.15%	0.12%	0.37%	0.1%	0.1%	0.06%	0.07%	0.05%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.1%	0.11%	0.14%	0.14%	0.16%	0.14%	0.14%	0.11%	0.12%	0.1%
Book Value per Share	12.62	13.63	15.04	16.56	20.20	22.28	24.50	26.07	28.26	30.37
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	10.29M	9.96M	13.29M	14.39M	43.03M	42.4M	42.67M	38.75M	34.77M	29.86M
Additional Paid-in Capital	0	0	0	0	0	0	0	0	0	0
Retained Earnings	80.13M	87.71M	98.23M	110.53M	127.99M	145.17M	164.17M	180.53M	199.39M	215.53M
Accumulated OCI	-313K	-175K	-124K	-129K	50K	61K	59K	-717K	-1.08M	20K
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Sep 2015	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024
Cash from Operations+	7.63M	11.82M	13.86M	21.45M	18.11M	33.86M	29.64M	26.5M	31M	23.02M
Operating CF Growth %	-0.12%	0.55%	0.17%	0.55%	-0.16%	0.87%	-0.12%	-0.11%	0.17%	-0.26%
Net Income	8.29M	10.15M	14.17M	16.72M	24.02M	24.27M	27.58M	23.6M	27.12M	24.28M
Depreciation & Amortization	2.2M	1.88M	1.75M	1.78M	2.7M	2.82M	3.04M	2.84M	2.66M	2.58M
Deferred Taxes	196K	283K	385K	797K	703K	76K	275K	-177K	-291K	-383K
Other Non-Cash Items	-4.01M	-541K	-1.83M	1.1M	-6.6M	4.01M	273K	1.9M	377K	-251K
Working Capital Changes	483K	-556K	-1.37M	-2K	-3.31M	2.47M	-1.7M	-1.9M	809K	-3.6M
Cash from Investing+	-49.11M	-59.55M	-20.16M	-68.27M	-44.55M	-154.67M	37.45M	-335.16M	-170.22M	-45.8M
Purchase of Investments	-2.99M	0	-3M	-6.07M	-34.08M	-51.47M	-71.75M	-208.78M	-32.6M	-44.95M
Sale/Maturity of Investments	1000K	542K	677K	595K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	14.28M	0	0	0	0	0
Other Investing	-47.4M	-59.45M	-14.31M	-60.6M	-41.07M	-120.83M	84.92M	-157.58M	-166.01M	-114.53M
Cash from Financing+	61.42M	64.38M	45.55M	47.49M	20.59M	292.25M	198.66M	45.22M	-48.81M	58.78M
Dividends Paid	-1.69M	-2.58M	-3.64M	-4.43M	-6.5M	-7.08M	-8.59M	-7.23M	-8.27M	-7.65M
Share Repurchases	-709K	-820K	0	0	-499K	-1.24M	-527K	-4.58M	-5M	-5.96M
Stock Issued	0	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	0	-1000K	-1000K	0	0	1000K	-1000K	-1000K	1000K	-1000K
Other Financing	63.83M	82.78M	79.19M	51.93M	27.58M	290.57M	212.78M	62.04M	-70.54M	87.39M
Net Change in Cash+	19.93M	16.65M	39.25M	676K	-5.85M	171.44M	265.74M	-263.44M	-188.03M	36.01M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	72.35M	92.29M	108.94M	148.19M	148.86M	143.01M	314.45M	580.2M	316.75M	128.72M
Cash at End	92.29M	108.94M	148.19M	148.86M	143.01M	314.45M	580.2M	316.75M	128.72M	164.73M
Interest Paid	3.9M	3.98M	3.28M	2.71M	4.46M	4.76M	3.24M	2.7M	10.3M	29.92M
Income Taxes Paid	3.66M	4.41M	7.6M	4.46M	6.59M	5.52M	5.96M	5.45M	6.99M	6.49M
Free Cash Flow+	6.92M	11.04M	10.33M	19.26M	15.96M	31.87M	28.74M	25.59M	29.89M	21.71M
FCF Growth %	-0.06%	0.59%	-0.06%	0.86%	-0.17%	1%	-0.1%	-0.11%	0.17%	-0.27%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	9.64%	10.92%	13.63%	14.19%	16.24%	13.53%	13.98%	11.09%	12.01%	10.15%
Return on Assets (ROA)	1.06%	1.19%	1.54%	1.7%	2.12%	1.73%	1.64%	1.29%	1.47%	1.29%
Net Interest Margin	3.34%	3.44%	3.68%	3.82%	4.09%	3.24%	2.89%	2.99%	3.7%	3.32%
Efficiency Ratio	61.32%	55.68%	51.71%	51.12%	48.33%	44.23%	45.46%	51.9%	45.3%	38.7%
Equity / Assets	10.93%	10.86%	11.66%	12.24%	13.72%	11.98%	11.54%	11.75%	12.67%	12.76%
Book Value / Share	12.62	13.63	15.04	16.56	20.2	22.28	24.5	26.07	28.26	30.37
NII Growth	5.24%	12.66%	14.19%	11.07%	30.98%	-0.48%	1.96%	7.67%	22.21%	-6.29%
Dividend Payout	20.42%	25.39%	25.7%	26.5%	27.04%	29.19%	31.14%	30.64%	30.49%	31.5%

Revenue by Segment

	2019	2020	2021	2022	2023	2024
Credit and Debit Card	4.04M	4.38M	5.08M	5.21M	5.19M	5.07M
Credit and Debit Card Growth	-	8.47%	16.13%	2.48%	-0.31%	-2.46%
Deposit Account	4.9M	4.15M	3.91M	3.96M	3.82M	4.06M
Deposit Account Growth	-	-15.44%	-5.69%	1.36%	-3.53%	6.22%
Asset Management	197K	273K	290K	211K	109K	71K
Asset Management Growth	-	38.58%	6.23%	-27.24%	-48.34%	-34.86%
Investment Advice	46K	22K	23K	27K	36K	12K
Investment Advice Growth	-	-52.17%	4.55%	17.39%	33.33%	-66.67%
Servicing Income On Loans Sold	462K	193K	7K	-	-	-
Servicing Income On Loans Sold Growth	-	-58.23%	-96.37%	-	-	-

Frequently Asked Questions

Valuation & Price

Timberland Bancorp, Inc. (TSBK) has a price-to-earnings (P/E) ratio of 12.2x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Timberland Bancorp, Inc. (TSBK) grew revenue by 16.4% over the past year. This is strong growth.

Yes, Timberland Bancorp, Inc. (TSBK) is profitable, generating $27.1M in net income for fiscal year 2024 (23.9% net margin).

Dividend & Returns

Yes, Timberland Bancorp, Inc. (TSBK) pays a dividend with a yield of 2.57%. This makes it attractive for income-focused investors.

Timberland Bancorp, Inc. (TSBK) has a return on equity (ROE) of 10.1%. This is reasonable for most industries.

Industry Metrics

Timberland Bancorp, Inc. (TSBK) has a net interest margin (NIM) of 3.3%. This indicates healthy earnings from lending activities.

Timberland Bancorp, Inc. (TSBK) has an efficiency ratio of 38.7%. This is excellent, indicating strong cost control.

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