Timberland Bancorp Q2 2024 Filing

TL;DR

Timberland Bancorp filed its 10-Q for Q2 2024, showing financial data for deposits and card activity.

AI Summary

Timberland Bancorp Inc. reported its financial results for the quarter ended June 30, 2024. The company's fiscal year ends on September 30. Key financial data for various periods, including deposit accounts and credit/debit card activity, were filed with the SEC.

Why It Matters

This filing provides insight into the financial health and operational performance of Timberland Bancorp Inc. during the second quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing (10-Q) that provides standard financial information.

Key Numbers

• 2024-06-30 — Quarter End Date (Reporting period for the 10-Q filing.)
• 2024-08-07 — Filing Date (Date the 10-Q was officially submitted to the SEC.)
• 2023-09-30 — Fiscal Year End (Indicates when Timberland Bancorp's fiscal year concludes.)

Key Players & Entities

• TIMBERLAND BANCORP INC (company) — Filer
• 20240630 (date) — Period of Report
• 20240807 (date) — Filing Date
• 6036 (industry_code) — Standard Industrial Classification
• WA (state) — State of Incorporation

FAQ

Filing Documents

• tsbk-20240630.htm (10-Q) — 3338KB
• tsbk-6302024x10qxex311.htm (EX-31.1) — 10KB
• tsbk-6302024x10qxex312.htm (EX-31.2) — 10KB
• tsbk-6302024x10qxex32.htm (EX-32) — 6KB
• 0000939057-24-000201.txt ( ) — 17241KB
• tsbk-20240630.xsd (EX-101.SCH) — 54KB
• tsbk-20240630_cal.xml (EX-101.CAL) — 119KB
• tsbk-20240630_def.xml (EX-101.DEF) — 397KB
• tsbk-20240630_lab.xml (EX-101.LAB) — 854KB
• tsbk-20240630_pre.xml (EX-101.PRE) — 652KB
• tsbk-20240630_htm.xml (XML) — 4472KB

Financial Statements (unaudited)

Financial Statements (unaudited) Consolidated Balance Sheets 3 Consolidated Statements of Income 5 Consolidated Statements of Comprehensive Income 7 Consolidated Statements of Shareholders' Equity 8 Consolidated Statements of Cash Flows 9 Notes to Unaudited Consolidated Financial Statements 11 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 40 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 55 Item 4.

Controls and Procedures

Controls and Procedures 56 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 56 Item 1A.

Risk Factors

Risk Factors 56 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 56 Item 3. Defaults Upon Senior Securities 57 Item 4. Mine Safety Disclosures 57 Item 5 . Other Information 57 Item 6. Exhibits 58

SIGNATURES

SIGNATURES Certifications Exhibit 31.1 Exhibit 31.2 Exhibit 32 Exhibit 101 Exhibit 104 2

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) TIMBERLAND BANCORP, INC. AND SUBSIDIARY CONSOLIDATED BALANCE SHEETS June 30, 2024 and September 30, 2023 (Dollars in thousands, except per share amounts) June 30, 2024 September 30, 2023 (Unaudited) * Assets Cash and cash equivalents: Cash and due from financial institutions $ 25,566 $ 25,390 Interest-bearing deposits in banks 133,347 103,331 Total cash and cash equivalents 158,913 128,721 Certificates of deposit ("CDs") held for investment (at cost, which approximates fair value) 10,458 15,188 Investment securities held to maturity, at amortized cost (net of allowance for credit losses of $ 72 at June 30, 2024 and $ 0 at September 30, 2023), (estimated fair value of $ 166,761 and $ 253,766 ) 176,787 270,218 Investment securities available for sale, at fair value 74,515 41,771 Investments in equity securities, at fair value 836 811 Federal Home Loan Bank of Des Moines ("FHLB") stock, at cost 2,037 3,602 Other investments, at cost 3,000 3,000 Loans held for sale 1,795 400 Loans receivable, net of allowance for credit losses of $ 17,046 and $ 15,817 1,397,019 1,302,305 Premises and equipment, net 21,558 21,642 Accrued interest receivable 7,045 6,004 Bank owned life insurance ("BOLI") 23,436 22,966 Goodwill 15,131 15,131 Core deposit intangible ("CDI"), net 508 677 Loan servicing rights, net 1,526 2,124 Operating lease right-of-use ("ROU") assets 1,550 1,772 Other assets 4,515 3,573 Total assets $ 1,900,629 $ 1,839,905 Liabilities and shareholders' equity Liabilities Deposits: Non-interest-bearing demand $ 407,125 $ 455,864 Interest-bearing 1,221,419 1,105,071 Total deposits 1,628,544 1,560,935 FHLB borrowings 20,000 35,000 Operating lease liabilities 1,649 1,867 Other liabilities and accrued expenses 9,213 9,030 Total liabilities $ 1,659,406 $ 1,606,832 * Derived from audited consolidated financial statements. See notes to unaudited consolidated financial statements 3 TIMBE

View Full Filing

View this 10-Q filing on SEC EDGAR