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Jun 30, 2020
Timberland Q3 2020 Earnings Report
Reported strong financial results despite unsettled economic conditions, driven by deposit growth and PPP loan originations.
Key Takeaways
Timberland Bancorp reported a net income of $6.21 million and EPS of $0.74 for the quarter ended June 30, 2020. The company saw significant deposit growth and record loan originations due to its participation in the PPP. The company remains cautious about investing excess liquidity due to economic uncertainties.
Net income reached $6.21 million, with EPS at $0.74.
PPP loan originations totaled $123 million.
Return on average assets was 1.70%.
Return on average equity was 13.83%.
Forward Guidance
Timberland will approach investing a significant portion of excess liquidity with measured approach until the durability of deposits and the direction of the economy become more certain.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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