TSBK on Nasdaq

TIMBERLAND BANCORP INC

TIMBERLAND BANCORP INC is an American savings institutions company, incorporated in Washington.1 It is headquartered in Hoquiam, Washington.1 Its shares trade on Nasdaq under the symbol TSBK.1

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Last updated Oct 20, 2026.

Overview

$29.2MNet income, fiscal 20252

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  • TickerTSBK on Nasdaq1
  • IndustrySavings Institutions, Not Federally Chartered1
  • HeadquartersHoquiam, Washington1
  • Incorporated inWA3
  • Business address624 Simpson Ave, Hoquiam, Wa 985503
  • Filer categoryAccelerated filer, Smaller reporting company3

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Timberland Bancorp, Inc. (“Timberland Bancorp"), a Washington corporation, was organized on September 8, 1997 for the purpose of becoming the holding company for Timberland Bank (the "Bank"). At September 30, 2025, on a consolidated basis, the Company had total assets of $2.01 billion, net loans receivable of $1.46 billion, total deposits of $1.72 billion and total shareholders’ equity of $262.61 million. The Company’s business activities generally are limited to passive investment activities and oversight of its investment in the Bank. Accordingly, the information set forth in this report, including consolidated financial statements and related data, relates primarily to the Bank and its subsidiary, Timberland Service Corp.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

11.1%Return on equity2
$28.4MFree cash flow2

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Credit and Debit Card brought in 54% of the revenue TIMBERLAND BANCORP INC broke down this way in fiscal 2025.

  1. Credit and Debit Card$5.0M254%down 2% from 2024
  2. Deposit Account$3.9M243%down 4% from 2024
  3. Servicing Income On Loans Sold$140.0K22%up 122% from 2024
  4. Asset Management$96.0K21%up 35% from 2024
  5. Investment Advice$35.0K20%up 192% from 2024
Products and services by year
Products and services202320242025
Credit and Debit Card$5.2M$5.1M$5.0M
Deposit Account$3.8M$4.1M$3.9M
Servicing Income On Loans Sold-$4.0K$63.0K$140.0K
Asset Management$109.0K$71.0K$96.0K
Investment Advice$12.0K$35.0K

Financial statements

Net income6789102$29.2M in 2025+74% since 2018
0$10.0M$20.0M$30.0M2018: $16.7M$16.7M20182019: $24.0M$24.0M2019+44%2020: $24.3M$24.3M2020+1%2021: $27.6M$27.6M2021+14%2022: $23.6M$23.6M2022−14%2023: $27.1M$27.1M2023+15%2024: $24.3M$24.3M2024−10%2025: $29.2M$29.2M2025+20%

Every line of the income statement as filed: the last 3 fiscal years (annual) or 8 quarters (quarterly), latest first.2

Period ending2025-09-302024-09-302023-09-30
Loans receivable and loans held for sale$85.5M$77.4M$63.2M
Investment securities$8.2M$9.1M$9.4M
Dividends from mutual funds, FHLB stock and other investments$335.0K$361.0K$270.0K
Interest-bearing deposits in banks and CDs$8.2M$7.9M$7.1M
Total interest and dividend income$102.3M$94.8M$80.0M
Deposits$31.3M$29.7M$11.3M
FHLB borrowings$805.0K$999.0K$290.0K
Total interest expense$32.1M$30.7M$11.6M
Net interest income$70.2M$64.2M$68.4M
Provision for credit losses - loans$853.0K$1.3M$2.1M
Recapture of credit losses - investment securities-$24.0K-$32.0K$0
Provision for (recapture of) credit losses - unfunded commitments$105.0K-$71.0K$0
Total provision for credit losses - net$934.0K$1.2M$2.1M
Net interest income after provision for (recapture of) credit losses$69.3M$63.0M$66.2M
Net recoveries on investment securities$14.0K$12.0K$9.0K
Gain on sales of investment securities, net$24.0K$0$95.0K
BOLI net earnings$1.7M$645.0K$706.0K
Gain on sales of loans, net$511.0K$322.0K$244.0K
Other, net$975.0K$895.0K$963.0K
Total non-interest income, net$12.4M$11.1M$11.1M
Salaries and employee benefits$23.9M$23.7M$23.6M
Premises and equipment$4.1M$4.0M$3.9M
Gain on sales/dispositions of premises and equipment, net$0-$2.0K-$19.0K
Advertising$761.0K$761.0K$786.0K
OREO and other repossessed assets, net$20.0K$5.0K$1.0K
ATM and debit card interchange transaction fees$2.3M$2.4M$2.0M
Postage and courier$544.0K$538.0K$532.0K
Amortization of CDI$180.0K$226.0K$271.0K
State and local taxes$1.7M$1.3M$1.2M
Professional fees$1.7M$1.3M$2.1M
"Federal Deposit Insurance Corporation (""FDIC"") insurance"$851.0K$833.0K$711.0K
Loan administration and foreclosure$534.0K$521.0K$503.0K
Technology and communications$4.4M$4.3M$3.5M
Deposit operations$1.3M$1.5M$1.4M
Other$3.1M$2.3M$2.9M
Total non-interest expense, net$45.4M$43.7M$43.4M
Income before income taxes and equity in undistributed income of Bank$36.2M$30.4M$34.0M
Provision for income taxes$7.1M$6.1M$6.9M
Net income$29.2M$24.3M$27.1M
Basic (in dollars per share)$3.68$3.02$3.32
Diluted (in dollars per share)$3.67$3.01$3.29

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Corporate structure

TIMBERLAND BANCORP INC sits at the top of its group. 3 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of TIMBERLAND BANCORP INC

  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on TIMBERLAND BANCORP INC, latest Mar 27, 2026 (3 filings since Nov 4, 2024)
  • Fourthstone LLC Filed SC 13G/A on TIMBERLAND BANCORP INC, latest Feb 14, 2024 (2 filings since Feb 14, 2023)
  • DIMENSIONAL FUND ADVISORS LP Filed SC 13G/A on TIMBERLAND BANCORP INC, latest Feb 9, 2024 (3 filings since Feb 8, 2022)
  • ROYCE & ASSOCIATES LP Filed SC 13G/A on TIMBERLAND BANCORP INC, latest Jan 30, 2024 (4 filings since Jan 25, 2022)
  • TIMBERLAND BANCORP INC Hoquiam, Washington
    • Timberland Bank Subsidiary · Washington, United States
    • Timberland Service Corporation Subsidiary · Washington, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What TIMBERLAND BANCORP INC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$44.2M2 Sep 30, 2025$42.6M2 Sep 30, 2024+3.6%
Accumulated depreciation$22.5M2 Sep 30, 2025$21.2M2 Sep 30, 2024+6.4%
Property and equipment, net$21.7M2 Sep 30, 2025$21.5M2 Sep 30, 2024+0.9%
Operating-lease assets (leased space)$2.9M2 Sep 30, 2025$1.5M2 Sep 30, 2024+99.9%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$243.4M2 Sep 30, 2025$164.7M2 Sep 30, 2024+47.8%
Equity securities at fair value$864.0K2 Sep 30, 2025$866.0K2 Sep 30, 2024−0.2%
Loans, net of allowance$1.5B2 Sep 30, 2025$1.4B2 Sep 30, 2024+3.0%
Deposits held (banks)$1.7B2 Sep 30, 2025$1.6B2 Sep 30, 2024+4.2%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$15.1M2 Sep 30, 2025$15.1M2 Sep 30, 20240%

Properties, in its own words

At September 30, 2025, the Company maintained its headquarters in Hoquiam, Washington, along with 23 full-service bank branches and four administrative offices with an aggregate net book value of $18.31 million. The Company's owns all properties except for one administrative office, the Tacoma branch, the Downtown Lacey branch, and a new branch in University Place that is expected to open during the first quarter of fiscal 2026. The lease terms for our branches are not individually material. In addition, the Bank operated 24 proprietary automated teller machines ("ATMs") that are part of a nationwide cash exchange network as of September 30, 2025. In the opinion of management, all properties are adequately covered by insurance, are in a good state of repair and are suitable for the Company's needs. For additional information see "Note 5 - Premises and Equipment" and "Note 9 - Leases" of the Notes to Consolidated Financial Statements contained in Item 8 of this report.

Item 2 of the 10-K filed Dec 9, 2025.5

Leadership

Who has led TIMBERLAND BANCORP INC, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Michael R. Sand2006–2022
  2. Dean J. Brydon2023–now

President

  1. Michael R. Sand2006–2022
  2. Dean J. Brydon2022
  3. Jonathan Arthur Fischer2023–now

Chief financial officer

  1. Dean J. Brydon2006–2022
  2. Marci A. Basich2023–now

Chief operating officer

  1. Kathie M. Bailey2006–2007
  2. Jonathan Arthur Fischer2021–now
2010201520202025
Board members and other officers (27)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Timberland Bank Washington4
  • Timberland Service Corporation Washington4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Jul 29, 20268-K Results of operations; Regulation FD disclosure48
  2. Apr 30, 20268-K Results of operations; Regulation FD disclosure49
  3. Jan 29, 20268-K Shareholder vote; Regulation FD disclosure50
  4. Jan 27, 20268-K Results of operations51
  5. Jan 7, 20268-K Change of auditor52
  6. Dec 11, 20258-K Executive or director change53
  7. Oct 31, 20258-K Results of operations; Regulation FD disclosure54
  8. Jul 23, 20258-K Results of operations; Regulation FD disclosure55
  9. Apr 24, 20258-K Results of operations; Regulation FD disclosure56
  10. Jan 31, 20258-K Shareholder vote; Regulation FD disclosure57
  11. Jan 28, 20258-K Results of operations58
  12. Nov 5, 20248-K Results of operations; Regulation FD disclosure59
  13. Sep 7, 2023New chief executive Dean J. Brydon becomes CEO15
  14. May 1, 2006New chief executive Michael R. Sand becomes CEO16

Calendar

Coming up

  1. Oct 29, 2026Reports results for the quarter ending Sep/202660

When it reported results

  1. Jul 29, 2026Reported quarterly or annual results48
  2. Apr 30, 2026Reported quarterly or annual results49
  3. Jan 27, 2026Reported quarterly or annual results51
  4. Oct 31, 2025Reported quarterly or annual results54
  5. Jul 23, 2025Reported quarterly or annual results55
  6. Apr 24, 2025Reported quarterly or annual results56
  7. Jan 28, 2025Reported quarterly or annual results58
  8. Nov 5, 2024Reported quarterly or annual results59

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

248 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 39 major events, 142 insider forms, 16 large holders, 31 other. The latest 20:

  1. Oct 2, 20264/A PRIMARY DOCUMENT EDGAR
  2. Oct 2, 20264 PRIMARY DOCUMENT EDGAR
  3. Oct 1, 20264 PRIMARY DOCUMENT EDGAR
  4. Oct 1, 20264 PRIMARY DOCUMENT EDGAR
  5. Oct 1, 20264 PRIMARY DOCUMENT EDGAR
  6. Oct 1, 20264 PRIMARY DOCUMENT EDGAR
  7. Oct 1, 20264 PRIMARY DOCUMENT EDGAR
  8. Oct 1, 20264 PRIMARY DOCUMENT EDGAR
  9. Oct 1, 20264 PRIMARY DOCUMENT EDGAR
  10. Sep 30, 20264 PRIMARY DOCUMENT EDGAR
  11. Sep 30, 20264 PRIMARY DOCUMENT EDGAR
  12. Sep 30, 20264 PRIMARY DOCUMENT EDGAR
  13. Sep 30, 20264 PRIMARY DOCUMENT EDGAR
  14. Sep 30, 20264 PRIMARY DOCUMENT EDGAR
  15. Sep 30, 20264 PRIMARY DOCUMENT EDGAR
  16. Sep 30, 20264 PRIMARY DOCUMENT EDGAR
  17. Sep 28, 20264/A PRIMARY DOCUMENT EDGAR
  18. Sep 25, 20264 PRIMARY DOCUMENT EDGAR
  19. Sep 25, 20264 PRIMARY DOCUMENT EDGAR
  20. Sep 25, 20264 PRIMARY DOCUMENT EDGAR

The 248 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

48 open-market trades by officers, directors and large owners since October 2021: 1 buys and 47 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 18, 2026Antich Breanne DChief Technology Officer/EVPSale30$46.41$1.4KForm 4
Aug 18, 2026DRUGGE ROBERT ADirectorSale2,000$45.87$91.7KForm 4
Aug 3, 2026BRYDON DEAN JCEOSale3,000$45.24$135.7KForm 4
Aug 1, 2026Antich Breanne DChief Technology Officer/EVPSale269$45.44$12.2KForm 4
Jul 31, 2026Seath Matthew DouglasChief Risk Officer/EVPSale3,000$44.75$134.2KForm 4
Jun 23, 2026SMITH DAVID ALANDirectorSale1,000$43.90$43.9KForm 4
Feb 6, 2026Antich Breanne DChief Technology Officer/EVPSale800$40.05$32.0KForm 4
Feb 5, 2026BASICH MARCI AChief Financial OfficerSale477$39.50$18.8KForm 4
Feb 5, 2026Fischer Jonathan ArthurPresident/COOSale2,000$39.50$79.0KForm 4
Feb 3, 2026BASICH MARCI AChief Financial OfficerSale376$39.50$14.9KForm 4
Feb 2, 2026BASICH MARCI AChief Financial OfficerSale4,347$39.52$171.8KForm 4
Feb 2, 2026DeBord Matthew JChief Lending Officer, EVPSale3,805$39.53$150.4KForm 4
Jan 30, 2026CLINTON ANDREA MDirectorSale1,600$39.19$62.7KForm 4
Dec 15, 2025DeBord Matthew JChief Lending Officer, EVPSale5,195$37.51$194.9KForm 4
Dec 11, 2025STONEY MICHAEL JOHNDirectorSale1,000$36.99$37.0KForm 4
Aug 18, 2025Antich Breanne DChief Technology Officer/EVPSale7,000$32.55$227.8KForm 4
Aug 13, 2025SMITH DAVID ALANDirectorSale164$33.50$5.5KForm 4
Jul 29, 2025SMITH DAVID ALANDirectorSale836$33.50$28.0KForm 4
Jul 29, 2025Van Cise ToddChief Credit Officer/EVPSale7,000$32.65$228.6KForm 4
Jul 25, 2025BASICH MARCI AChief Financial OfficerSale300$33.25$10.0KForm 4

All 48 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.690,183$30.9M0.0%+25,261
Dimensional Fund Advisors LP558,575$25.0M0.0%+1,505
Vanguard Capital Management LLC315,684$14.1M0.0%−11,914
Cutler Capital Management, LLC285,258$12.8M3.9%−5,944
Manufacturers Life Insurance Company, The284,556$12.8M0.0%−1,834
Royce & Associates LP260,826$11.7M0.1%−2,108
Siena Capital Partners GP, LLC230,847$10.3M2.5%No change
Renaissance Technologies LLC212,589$9.5M0.0%−5,000
Geode Capital Management, LLC187,547$8.4M0.0%+14,933
Davis Asset Management, L.P.174,476$7.8M0.2%No change
State Street Corp137,561$6.2M0.0%+4,666
Gabelli Funds LLC130,056$5.8M0.0%+7,000
American Century Companies Inc125,830$5.6M0.0%+73,320
Bridgeway Capital Management, LLC123,613$5.5M0.1%+975
Kiley Juergens Wealth Management, LLC119,504$5.4M0.8%−563
Arrowstreet Capital, Limited Partnership91,302$4.1M0.0%+4,586
Westport Asset Management Inc80,909$3.6M1.5%No change
De Lisle Partners LLP65,247$2.9M0.3%No change
Northern Trust Corp63,623$2.9M0.0%+1,194
Goldman Sachs Group Inc56,352$2.5M0.0%−17,382
Empowered Funds, LLC50,775$2.3M0.0%+975
Vanguard Portfolio Management LLC50,558$2.3M0.0%+7,739
Vanguard Fiduciary Trust Co48,776$2.2M0.0%+1,730
Panagora Asset Management Inc43,338$1.9M0.0%+13,102
Creative Planning37,926$1.7M0.0%+5,482

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How TIMBERLAND BANCORP INC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARTIMBERLAND BANCORP INC1
  • CIK0001046050
  • Employer ID (EIN)91-18636965
  • Filer statusAccelerated filer not an emerging growth company; a smaller reporting company; not a shell company5
  • Incorporated inWashington5
  • Fiscal year endsSeptember 301
  • Industry code (SIC)6036 Savings Institutions, Not Federally Chartered1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business address624 Simpson Ave, Hoquiam, WA 985501
  • Phone36053347471
  • Shares outstanding7,775,668 as of Aug 3, 202613
  • Public float$238.3M as of Mar 31, 20255
  • AuditorDelap LLP, Lake Oswego, Oregon PCAOB ID 116; it also attests to the company’s internal control over financial reporting5
  • On EDGAR sinceSep 17, 19971
  • Filings1,023 in all: 4 (506), 8-K (172), 10-Q (87), SC 13G/A (70), DEF 14A (28), 11-K (25), 10-K (24), 3 (20)1
    All 34 form types

    144 (19), 4/A (13), SC 13G (12), 10-K405 (5), CORRESP (5), UPLOAD (5), S-8 (4), S-1/A (3), SC 13D/A (3), 10-Q/A (2), 424B3 (2), ARS (2), DEFA14A (2), EFFECT (2), 10-K405/A (1), 5 (1), 8-A12G (1), 8-K/A (1), NT 10-Q (1), PRE 14A (1), S-1 (1), S-3 (1), S-4 (1), S-4/A (1), SC 13D (1), SCHEDULE 13G/A (1)

  • Latest filingsAnnual report (10-K) Dec 9, 2025
    Quarterly report (10-Q) Aug 7, 2026
    Proxy statement (DEF 14A) Dec 17, 2025
    Latest 8-K (8-K) Jul 29, 2026

Securities registered for trading

ClassSymbolExchange
Common stock, $.01 par valueTSBKThe NASDAQ Stock Market LLC

From the cover page of the 10-K filed Dec 9, 2025 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks TIMBERLAND BANCORP INC names in Item 1A of its 10-K filed Dec 9, 2025: 31 risks under these headings, as written.5

  • Risks Related to Economic Conditions
  • Our business may be adversely affected by downturns in the national economy and in the economies in our market areas.
  • Monetary policy, inflation, deflation, and other external economic factors could adversely impact our financial performance and operations.
  • Risks Related to our Lending Activities
  • Our real estate construction and land loans expose us to significant risks.
  • Our emphasis on commercial real estate lending may expose us to increased lending risks.
  • Repayment of our commercial business loans is often dependent on the cash flows of the borrower, which may be unpredictable, and the collateral securing these loans may fluctuate in value.
  • Our business may be adversely affected by credit risk associated with residential property.
  • Our allowance for credit losses on loans may not be sufficient to absorb losses in our loan portfolio.
  • If our non-performing assets increase, our earnings will be adversely affected.
  • Risk Related to our Business Strategy
  • We may be adversely affected by risks associated with completed and potential acquisitions.
The other 22 risks
  • Risk Related to Market Interest Rates
  • Changes in interest rates may reduce our net interest income and may result in higher defaults in a rising rate environment.
  • Our securities portfolio may be negatively impacted by fluctuations in market value and interest rates.
  • An increase in interest rates, change in the programs offered by Freddie Mac or our ability to qualify for their programs may reduce our mortgage revenues, which would negatively impact our non-interest income.
  • Risks Related to Laws and Regulations
  • The level of our commercial real estate loan portfolio may subject us to additional regulatory scrutiny.
  • We operate in a highly regulated environment and may be adversely affected by changes in federal and state laws and regulations that could increase our costs of operations.
  • Non-compliance with the USA PATRIOT Act, Bank Secrecy Act, or other laws and regulations could result in fines or sanctions and limit our ability to get regulatory approval of acquisitions.
  • Climate change and related legislative and regulatory initiatives may materially affect our business and results of operations.
  • Risks Related to Cybersecurity, Third Parties and Technology
  • The financial services market is undergoing rapid technological changes and, if we are unable to stay current with those changes, we may not be able to effectively compete.
  • We are subject to certain risks in connection with our use of technology.
  • Our security measures may not be sufficient to prevent the risk of a cyber-attack.
  • Security breaches in our internet banking activities present additional risks of liability and reputational harm.
  • Our security measures may not protect us from system failures or interruptions.
  • Our business may be adversely affected by an increasing prevalence of fraud and other financial crimes.
  • Risks Related to Accounting Matters
  • The Company’s reported financial results depend on management’s selection of accounting methods and certain assumptions and estimates, which, if incorrect, could cause unexpected losses in the future.
  • We may experience future goodwill impairment, which could reduce our earnings.
  • We are subject to an extensive body of accounting rules and best practices. Periodic changes to such rules may change the treatment and recognition of critical financial line items and affect our profitability.
  • We may experience decreases in the fair value of our loan servicing rights, which could reduce our earnings.
  • If our investments in real estate are not properly valued or sufficiently reserved to cover actual losses, or if we are required to increase our valuation allowances, our earnings could be reduced .
  • Other Risks Related to Our Business
  • Ineffective liquidity management could adversely affect our financial results and condition.
  • Our growth or future losses may require us to raise additional capital in the future, but that capital may not be available when it is needed or the cost of that capital may be exceedingly high.
  • Our framework for managing risks may not be effective in mitigating risk and loss to us.
  • We are dependent on key personnel, and the loss of one or more of those key personnel may materially and adversely affect our prospects.

Legal proceedings

Periodically, there have been various claims and lawsuits involving the Company, such as claims to enforce liens, condemnation proceedings on properties in which the Company holds security interests, claims involving the making and servicing of real property loans and other issues incident to the Company's business. The Company is not currently a party to any pending legal proceedings that it believes would have a material adverse effect on the financial condition or operations of the Company.

The opening of Item 3, Legal Proceedings.5

Sources

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