Timberland Bancorp, Inc. announced a 14% increase in the quarterly cash dividend to common shareholders to $0.08 per common share, payable on February 26, 2016 to shareholders of record on February 12, 2016.

The company announced unaudited consolidated earnings results for the first quarter ended December 31, 2015. or the quarter, net interest income was $7,710,000 against $6,703,000 a year ago. Net interest income improved in the current quarter primarily due to the increased level of average loans and average interest-earning assets and the collection of $475,000 of non-accrual interest. Income before income taxes was $3,749,000 against $2,552,000 a year ago. Net income was $2,528,000 against $1,727,000 a year ago. Net income per common share - Diluted was $0.36 against $0.24 a year ago. Return on average assets was 1.22% against 0.92% a year ago. Return on average equity was 11.26% against 8.29% a year ago. Tangible book value per common share was $12.21 against $11.15 a year ago.

For the quarter, net charge-offs were $35,000 against $105,000 a year ago.