The bank achieved a 6.5% year-over-year growth in net interest income to $18.2 million in 2026Q2, while maintaining an efficiency ratio between 36.7% and 40.5% over the last ten quarters.
| Metric | TTM | Sep'25 | Sep'24 | Sep'23 | Sep'22 | Sep'21 | Sep'20 | Sep'19 | Sep'18 | Sep'17 | Sep'16 | Sep'15 | Sep'14 | Sep'13 | Sep'12 | Sep'11 | Sep'10 | Sep'09 | Sep'08 | Sep'07 | Sep'06 | Sep'05 | Sep'04 | Sep'03 | Sep'02 | Sep'01 | Sep'00 | Sep'99 | Sep'98 | Sep'97 |
|---|
| Net Interest Income | 73.04M | 69.86M | 63.81M | 68.09M | 55.71M | 51.75M | 50.75M | 51M | 38.94M | 35.05M | 30.7M | 27.25M | 25.89M | 25.77M | 25.63M | 25.4M | 25.6M | 25.26M | 26.93M | 26.17M | 24.64M | 22.33M | 19.25M | 18.78M | 19.37M | 17.77M | 15.94M | 14.7M | 12.5M | 9.56M |
| NII Growth % | 40.43% | 9.5% | -6.29% | 22.21% | 7.67% | 1.96% | -0.48% | 30.98% | 11.07% | 14.19% | 12.66% | 5.24% | 0.47% | 0.56% | 0.88% | -0.77% | 1.35% | -6.19% | 2.9% | 6.2% | 10.35% | 16.01% | 2.5% | -3.08% | 9.03% | 11.5% | 8.4% | 17.6% | 30.73% | - |
| Net Interest Margin % | 3.57% | 3.47% | 3.32% | 3.7% | 2.99% | 2.89% | 3.24% | 4.09% | 3.82% | 3.68% | 3.44% | 3.34% | 3.47% | 3.46% | 3.48% | 3.44% | 3.45% | 3.6% | 3.95% | 4.06% | 4.27% | 4.04% | 4.18% | 4.18% | 4.49% | 4.6% | 4.33% | 4.79% | 4.7% | 4.52% |
| Interest Income | 105.14M | 101.94M | 94.46M | 79.68M | 58.39M | 54.85M | 55.45M | 55.56M | 41.71M | 38.25M | 34.77M | 31.14M | 29.83M | 30.21M | 31.57M | 33.94M | 36.56M | 38.76M | 43.34M | 41.94M | 35.45M | 30.94M | 26.57M | 27.72M | 30.26M | 31.69M | 28.36M | 23.11M | 20.65M | 17.95M |
| Interest Expense | 32.09M | 32.08M | 30.66M | 11.59M | 2.67M | 3.1M | 4.7M | 4.57M | 2.78M | 3.2M | 4.07M | 3.89M | 3.94M | 4.44M | 5.95M | 8.53M | 10.96M | 13.5M | 16.41M | 15.78M | 10.81M | 8.61M | 7.33M | 8.95M | 10.89M | 13.92M | 12.43M | 8.41M | 8.15M | 8.39M |
| Loan Loss Provision | 1.16M | 958K | 1.18M | 2.13M | 151K | -110K | 3.92M | 4K | 0 | -1.25M | 0 | -1.52M | 0 | 2.45M | 3.49M | 6.35M | 10.55M | 10.73M | 3.9M | 686K | 0 | 141K | 167K | 347K | 992K | 1.4M | 885K | 400K | 200K | 596.78K |
| Non-Interest Income | 10.53M | 8.55M | 7.08M | 7.55M | 8.94M | 13.77M | 14.35M | 11.18M | 9.84M | 9.77M | 8.38M | 7.25M | 6.25M | 7.92M | 7.42M | 5.87M | 7.91M | 6.99M | 4.18M | 5.96M | 6.24M | 6.07M | 4.58M | 6.01M | 4.66M | 2.93M | 1.74M | 592K | 1.54M | -7.73M |
| Non-Interest Income % | 9.1% | 7.74% | 6.98% | 8.66% | 13.28% | 20.07% | 20.55% | 16.76% | 19.09% | 20.35% | 19.43% | 18.89% | 17.31% | 20.78% | 19.02% | 14.75% | 17.78% | 15.27% | 8.79% | 12.45% | 14.98% | 16.41% | 14.69% | 17.81% | 13.34% | 8.45% | 5.77% | 2.5% | 6.94% | -75.65% |
| Total Revenue | 115.67M | 110.49M | 101.55M | 87.23M | 67.33M | 68.62M | 69.8M | 66.75M | 51.55M | 48.02M | 43.15M | 38.39M | 36.08M | 38.13M | 38.99M | 39.81M | 44.47M | 45.75M | 47.52M | 47.91M | 41.7M | 37.01M | 31.15M | 33.73M | 34.92M | 34.62M | 30.1M | 23.7M | 22.19M | 10.22M |
| Revenue Growth % | 35.88% | 8.81% | 16.41% | 29.57% | -1.88% | -1.69% | 4.58% | 29.47% | 7.35% | 11.28% | 12.42% | 6.41% | -5.39% | -2.21% | -2.05% | -10.48% | -2.8% | -3.72% | -0.81% | 14.89% | 12.66% | 18.82% | -7.66% | -3.41% | 0.87% | 15.01% | 27% | 6.81% | 117.18% | - |
| Non-Interest Expense | 44.03M | 41.23M | 39.3M | 39.52M | 34.94M | 31.2M | 30.87M | 32.26M | 26.35M | 24.83M | 24.03M | 23.54M | 23.49M | 23.97M | 23.18M | 23.53M | 26.82M | 22.74M | 20.37M | 19.45M | 18.9M | 18.54M | 15.57M | 14.83M | 12.72M | 11.09M | 7.97M | 7.09M | 6.34M | -3.92M |
| Efficiency Ratio | 38.06% | 37.31% | 38.7% | 45.3% | 51.9% | 45.46% | 44.23% | 48.33% | 51.12% | 51.71% | 55.68% | 61.32% | 65.1% | 62.86% | 59.46% | 59.1% | 60.31% | 49.7% | 42.88% | 40.6% | 45.32% | 50.09% | 50% | 43.97% | 36.41% | 32.04% | 26.47% | 29.92% | 28.57% | -38.41% |
| Operating Income | 38.38M | 36.23M | 30.41M | 33.99M | 29.56M | 34.43M | 30.31M | 29.92M | 22.42M | 21.24M | 15.05M | 12.48M | 8.65M | 7.27M | 6.37M | 1.39M | -3.86M | -1.23M | 6.83M | 11.99M | 11.99M | 9.72M | 8.08M | 9.61M | 10.32M | 8.2M | 8.82M | 7.8M | 7.5M | 5.16M |
| Operating Margin % | 33.18% | 32.79% | 29.94% | 38.97% | 43.91% | 50.17% | 43.42% | 44.83% | 43.49% | 44.24% | 34.89% | 32.52% | 23.98% | 19.07% | 16.34% | 3.5% | -8.68% | -2.68% | 14.37% | 25.03% | 28.75% | 26.27% | 25.94% | 28.48% | 29.56% | 23.7% | 29.31% | 32.91% | 33.8% | 50.49% |
| Operating Income Growth % | - | 19.16% | -10.55% | 14.99% | -14.13% | 13.6% | 1.29% | 33.44% | 5.55% | 41.1% | 20.59% | 44.32% | 18.97% | 14.13% | 357.36% | 136.09% | -214.59% | -117.97% | -43.05% | 0.04% | 23.27% | 20.33% | -15.88% | -6.96% | 25.84% | -7.02% | 13.1% | 4% | 45.37% | - |
| Pretax Income | 38.38M | 36.23M | 30.41M | 33.99M | 29.56M | 34.43M | 30.31M | 29.92M | 22.42M | 21.24M | 15.05M | 12.48M | 8.65M | 7.27M | 6.37M | 1.39M | -3.86M | -1.23M | 6.83M | 11.99M | 11.99M | 9.72M | 8.08M | 9.61M | 10.32M | 8.2M | 8.82M | 7.8M | 7.5M | 5.16M |
| Pretax Margin % | 33.18% | 32.79% | 29.94% | 38.97% | 43.91% | 50.17% | 43.42% | 44.83% | 43.49% | 44.24% | 34.89% | 32.52% | 23.98% | 19.07% | 16.34% | 3.5% | -8.68% | -2.68% | 14.37% | 25.03% | 28.75% | 26.27% | 25.94% | 28.48% | 29.56% | 23.7% | 29.31% | 32.91% | 33.8% | 50.49% |
| Income Tax | 7.49M | 7.07M | 6.12M | 6.88M | 5.96M | 6.84M | 6.04M | 5.9M | 5.7M | 7.08M | 4.9M | 4.19M | 2.8M | 2.51M | 1.78M | 304K | -1.57M | -985K | 2.82M | 3.83M | 3.83M | 3.1M | 2.49M | 2.97M | 3.43M | 2.74M | 2.92M | 2.6M | 2.4M | 1.83M |
| Effective Tax Rate % | 19.52% | 19.51% | 20.14% | 20.23% | 20.17% | 19.88% | 19.92% | 19.72% | 25.43% | 33.31% | 32.55% | 33.58% | 32.37% | 34.58% | 27.95% | 21.82% | 40.65% | 80.28% | 41.35% | 31.92% | 31.95% | 31.93% | 30.84% | 30.88% | 33.25% | 33.41% | 33.16% | 33.33% | 32% | 35.48% |
| Net Income | 30.89M | 29.16M | 24.28M | 27.12M | 23.6M | 27.58M | 24.27M | 24.02M | 16.72M | 14.17M | 10.15M | 8.29M | 5.85M | 4.76M | 4.59M | 1.09M | -2.29M | -242K | 4M | 8.16M | 8.16M | 6.62M | 5.59M | 6.64M | 6.89M | 5.46M | 5.9M | 5.2M | 5.1M | 3.33M |
| Net Margin % | 26.71% | 26.39% | 23.91% | 31.09% | 35.05% | 40.2% | 34.77% | 35.99% | 32.43% | 29.5% | 23.53% | 21.6% | 16.22% | 12.48% | 11.77% | 2.74% | -5.15% | -0.53% | 8.43% | 17.04% | 19.56% | 17.88% | 17.94% | 19.68% | 19.73% | 15.78% | 19.59% | 21.94% | 22.98% | 32.58% |
| Net Income Growth % | 19.31% | 20.09% | -10.45% | 14.91% | -14.44% | 13.66% | 1.04% | 43.65% | 18.03% | 39.52% | 22.46% | 41.74% | 22.98% | 3.64% | 321.49% | 147.53% | -846.69% | -106.04% | -50.94% | 0.07% | 23.25% | 18.43% | -15.83% | -3.66% | 26.16% | -7.38% | 13.4% | 1.96% | 53.2% | - |
| Net Income (Continuing) | 30.89M | 29.16M | 24.28M | 27.12M | 23.6M | 27.58M | 24.27M | 24.02M | 16.72M | 14.17M | 10.15M | 8.29M | 5.85M | 4.76M | 4.59M | 1.09M | -2.29M | -242K | 4M | 8.16M | 8.16M | 6.62M | 5.59M | 6.64M | 6.89M | 5.46M | 5.9M | 5.2M | 5.1M | 3.33M |
| EPS (Diluted) | 3.90 | 3.67 | 3.01 | 3.29 | 2.82 | 3.27 | 2.88 | 2.84 | 2.22 | 1.92 | 1.43 | 1.17 | 0.80 | 0.58 | 0.52 | 0.00 | -0.50 | -0.15 | 0.61 | 1.17 | 1.12 | 0.91 | 0.37 | 0.83 | 0.86 | 0.64 | 0.66 | 0.52 | 0.42 | 0.25 |
| EPS Growth % | 20.68% | 21.93% | -8.51% | 16.67% | -13.76% | 13.54% | 1.41% | 27.93% | 15.63% | 34.27% | 22.22% | 46.25% | 37.93% | 11.54% | - | 100.94% | -233.33% | -124.59% | -47.86% | 4.46% | 23.08% | 145.95% | -55.42% | -3.49% | 34.38% | -3.03% | 26.92% | 23.81% | 68% | - |
| EPS (Basic) | - | 3.68 | 3.02 | 3.32 | 2.84 | 3.31 | 2.91 | 2.89 | 2.28 | 1.99 | 1.48 | 1.20 | 0.82 | 0.59 | 0.52 | 0.00 | -0.50 | -0.15 | 0.62 | 1.20 | 1.16 | 0.95 | 0.39 | 0.87 | 0.88 | 0.65 | 0.66 | 0.52 | 0.42 | 0.25 |
| Diluted Shares Outstanding | 7.92M | 7.95M | 8.08M | 8.25M | 8.38M | 8.44M | 8.42M | 8.47M | 7.53M | 7.38M | 7.11M | 7.07M | 7.02M | 6.89M | 6.78M | 6.75M | 6.71M | 6.62M | 6.57M | 6.98M | 7.28M | 7.27M | 7.72M | 8M | 8.06M | 8.53M | 9M | 10.1M | 12.14M | 13.23M |
Regional housing market concentration
According to quarterly financial disclosures, TSBK achieved a consistent upward trajectory in net interest income, reaching $18.2 million in 2026Q2, which represents a 6.5% year-over-year growth rate, suggesting the bank is successfully navigating the current interest rate environment through its localized, low-cost deposit funding advantage.
The steady climb in NII suggests that the bank's core deposit base remains resilient against competitive rate pressures. This performance implies that management has effectively managed deposit betas, allowing the institution to capture wider spreads on its construction and commercial loan portfolio during the recent rate cycle.
As reported in recent regulatory filings, TSBK has maintained a stable net interest margin of 0.9% throughout the last ten quarters, indicating that the bank's asset-liability management strategy is effectively insulating its core profitability from the broader fluctuations observed in the regional banking sector's interest rate environment.
The consistency of the NIM suggests a high degree of structural alignment between the bank's loan repricing and its deposit costs. Investors should monitor whether this stability persists if the regional housing market experiences a cooling phase that could force a shift in asset mix toward lower-yielding instruments.
Based on the provided income statement data, TSBK's efficiency ratio fluctuated between 36.7% and 40.5% over the last ten quarters, demonstrating that the bank is maintaining tight control over its non-interest expenses while scaling its revenue base in a competitive Pacific Northwest financial services landscape.
The ability to keep the efficiency ratio near the 37-38% range suggests that the bank's physical branch network is not currently a drag on profitability. This operational leverage appears to be a key contributor to the bank's ability to generate consistent earnings growth despite the inherent cyclicality of its lending model.
As detailed in the bank's recent financial statements, provision for credit losses reached $523,000 in 2026Q2, a notable increase from the $346,000 recorded in 2024Q1, which may indicate that management is proactively adjusting its reserves to account for potential credit deterioration in its construction-heavy loan portfolio.
The uptick in provision expense warrants further investigation into the specific credit quality of the bank's speculative construction loans. While the current levels appear manageable, any further acceleration in provisioning could signal that the bank is anticipating a more challenging economic environment in its core Western Washington markets.
Quick answers to the most common questions about buying TSBK stock.
Timberland Bancorp, Inc. (TSBK) is profitable, generating $29.2M in net income for the fiscal year ending 2025 with a net profit margin of 26.4%.
Timberland Bancorp, Inc. (TSBK) reported an operating income of $36.2M, resulting in an operating profit margin of 32.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Timberland Bancorp, Inc. (TSBK) generated $77.5M in gross profit for the year, representing a gross profit margin of 70.1%. This demonstrates the company's core pricing power and production efficiency.