Timberland Bancorp reported a net income of $5.71 million, or $0.70 per diluted common share, for the quarter ended March 31, 2024. The company's operating results were highlighted by solid earnings, moderate growth in loans and deposits, and continued stable asset quality metrics.
Net income was $5.71 million, a decrease of 14% compared to the same quarter last year.
Earnings per diluted common share decreased to $0.70, down from $0.80 in the comparable quarter one year ago.
Net interest margin compressed to 3.48% from 3.99% in the comparable quarter one year ago.
Net loans receivable increased by $23 million during the quarter.
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