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Mar 31, 2020
Timberland Q2 2020 Earnings Report
Timberland Bancorp's financial performance decreased compared to the previous year due to increased loan loss provisions and economic uncertainties.
Key Takeaways
Timberland Bancorp reported a decrease in net income for the quarter ended March 31, 2020, due to a $2.00 million provision for loan losses related to COVID-19 economic uncertainties. EPS also decreased. However, the company's capital base remains strong, and it has access to ample liquidity.
Net income decreased to $5.05 million, and EPS was $0.60, impacted by a $2.00 million provision for loan losses.
Allowance for loan losses increased to 1.29% of loans receivable due to economic uncertainties.
Return on average assets was 1.56%, and return on average equity was 11.39%.
A quarterly cash dividend of $0.20 per common share was declared.
Forward Guidance
The report does not include any forward guidance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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