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Dec 31, 2023
Timberland Q1 2024 Earnings Report
Timberland Bancorp reported a net income of $6.30 million for the first fiscal quarter, with solid earnings, strong growth in loans and deposits.
Key Takeaways
Timberland Bancorp reported a net income of $6.30 million, or $0.77 per diluted common share, for the quarter ended December 31, 2023. The results were highlighted by solid earnings, strong growth in loans and deposits, and continued tangible book value per share growth.
EPS decreased 5% to $0.77 for the current quarter from $0.81 for the preceding quarter.
Net income decreased 5% to $6.30 million for the current quarter from $6.64 million for the preceding quarter.
Total assets increased 3% from the prior quarter and increased 3% year-over-year.
Total deposits increased 4% from the prior quarter and increased 2% year-over-year.
Forward Guidance
Timberland Bancorp remains optimistic regarding the overall strength of its loan portfolio and the economic opportunities for growth in its markets, despite the possibility of a slowing economy and a continued higher interest rate environment.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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