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Sep 30, 2022
Timberland Q4 2022 Earnings Report
Timberland Bancorp's net income increased, driven by loan and investment portfolio growth and a favorable rate environment.
Key Takeaways
Timberland Bancorp reported a strong fiscal fourth quarter, with net income increasing by 23% to $7.05 million, or $0.85 per diluted common share, compared to the preceding quarter. The company benefited from growth in the loan and investment portfolios, as well as a higher interest rate environment orchestrated by the Federal Reserve. Asset quality remained strong, with no charge-offs recorded during the quarter and non-performing assets at 0.12% of total assets.
EPS increased 23% to $0.85 for the current quarter from $0.69 for the preceding quarter.
Net income increased 23% to $7.05 million for the current quarter from $5.74 million for the preceding quarter.
Return on average equity and return on average assets for the current quarter were 13.06% and 1.51%, respectively.
Net interest margin for the current quarter improved to 3.64% from 3.11% for the preceding quarter.
Forward Guidance
Timberland is well-positioned to benefit from further Federal Reserve actions to increase interest rates and plans to deploy excess liquidity in the coming quarters.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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