Timberland Bancorp, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended June 30, 2023
July 28, 2023 at 12:46 am IST
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Timberland Bancorp, Inc. reported earnings results for the third quarter and nine months ended June 30, 2023. For the third quarter, the company reported net interest income was USD 16.63 million compared to USD 13.98 million a year ago. Net income was USD 6.31 million compared to USD 5.74 million a year ago. Basic earnings per share from continuing operations was USD 0.77 compared to USD 0.69 a year ago. Diluted earnings per share from continuing operations was USD 0.77 compared to USD 0.69 a year ago.
For the nine months, net interest income was USD 51.53 million compared to USD 39.57 million a year ago. Net income was USD 20.48 million compared to USD 16.55 million a year ago. Basic earnings per share from continuing operations was USD 2.5 compared to USD 1.99 a year ago. Diluted earnings per share from continuing operations was USD 2.47 compared to USD 1.97 a year ago.
Timberland Bancorp, Inc. is a holding company for Timberland Bank (the Bank). The Bank is a community-oriented bank, which offers a variety of savings products to its retail and business customers while concentrating its lending activities on real estate secured loans. Its lending activities are focused primarily on the origination of loans secured by real estate, including residential construction loans, one-to-four-family residential loans, multi-family loans and commercial real estate loans. The Bank also originates commercial business loans and other consumer loans. It offers personal checking, savings accounts, timberland financial services, health savings accounts, online banking, cash management and remote deposit, ACH transactions, merchant services, and others. The Bank serves consumers and businesses across Grays Harbor, Thurston, Pierce, King, Kitsap and Lewis counties, Washington with a full range of lending and deposit services through its 23 branches.