Timberland Bancorp, Inc. and Timberland Bank announced that Robert Drugge retired from the Chief Lending Officer positions at both the Company and the Bank on March 31, 2023. As a result of Mr. Drugge's retirement, Matthew DeBord, age 42, was appointed as the Chief Lending Officer and Executive Vice President of the Company and the Bank, effective April 1, 2023. Mr. DeBord has been with the Company since 2012 and most recently has held the position of Senior Vice President and Commercial Bank Team Leader.

Mr. DeBord is a graduate of the University of Washington and Pacific Coast Banking School and began his banking career as a regulator with the Washington State Department of Financial Institutions, Division of Banks. Subsequent to his retirement, Mr. Drugge will be appointed to the Boards of Directors of both the Company and Bank, effective April 3, 2023. It is expected that Mr. Drugge will be appointed to the Loan Committee of the Bank's Board of Directors.