Timberland Bancorp, Inc. · NASDAQ:TSBK
Timberland Bancorp — Earnings Presentation (April 2026)
33 slides from Timberland Bancorp's earnings presentation, Apr 30, 2026
Slide 1: Timberland Bancorp, March 31, 2026
LAN Timberland \S Banco: IWS = rp Timberland Bancorp NASDAQ: TSBK March 31, 2026
Slide 2: Disclaimer
DISCLAIMER miedo Statements contained in this presentation which are not historical facts are forward-looking statements as that item is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual re
Slide 3: Timberland Branch Locations
TIMBERLAND BRANCH LOCATIONS Timbertind Timberland Branch Locations NASDAQ: TSBK 3
Slide 4: Financial Highlights
tN aS Timberland XS Bancorp FINANCIAL HIGHLIGHTS NASDAQ: TSBK 4
Slide 5: Net Income
NET INCOM E $ in millions $35.00 $30.00 $29.16 $27.58 $27.12 $25.00 $23.60 $24.28 $20.00 $ $15.35 15.00 $10.00 $5.00 $0.00 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 YTD F¥ 2026 NASDAQ; TSBK
Slide 6: Quarterly Net Income
QUARTERLY NET INCOM E Sin millions miedo WSBagrore $9.00 $8.45 $8.22 $8.00 $7.00 $6.86 $6.76 $2.10 os se.00 ésv92 $6.36 $5.00 $4.00 $3.00 $2.00 $1.00 $0.00 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 NASDAQ; TSBK
Slide 7: Earnings per Diluted Share
EARNINGS PER DILUTED SHARE miedo RS Bancorn $4.00 $3.67 9330 S507 $3.29 $3.00 $3.01 $2.82 $2.50 $2.00 $1.94 $1.50 $1.00 $0.50 $0.00 FY 2021 FY 2022 FY 2023 FY 2024 FY2025 YTD F¥ 2026 m1Q =2Q ™3Q m4Q NASDAQ; TSBK
Slide 8: Return on Assets and Return on Equity
RETURN ON ASSETS AND RETURN ON EQUITY miki nd \S Bancorp SS ROA ROE 1.80% 16.00% “7 13.98% 160% 1.50% 150% 152% 14.00% ° 12.01% 1.40% 7 7 1.27% 1.28% 12.00% ae 11.56% 11.53% 1.20% 10.19% 10.00% 1.00% 8.00% 0.80% 6.00% 0.60% 4.00% 0.40% 0.20% 2.00% 0.00% 0.00% FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Slide 9: Balance Sheet
BALANCE SH EET $ in millions Total Assets $2,500 $2,013 $2,046 $2,000 $1792 $1,861 $1,840 $1,923 $1,500 $1,000 $500 $ 9/30/2021 9/30/2022 - 9/30/2023 9/30/2024 9/30/2025 3/31/2026 NASDAQ; TSBK
Slide 10: Total Capital
TOTAL CAPITAL S in thousands $275,000 $262,614 $271,089 $245,413 $233,073 $225,000 $218,569 $206,899 $175,000 $125,000 $75,000 $25,000 9/30/2021 9/30/2022 9/30/2023 9/30/2024 = -9f30/2025 3/31/2026 -$25,000 NASDAQ; TSBK )
Slide 11: Capital Strength
CAPITAL STRENGTH 24.00% 22.17% o1.589% 22.00% 20.67% 20.00% 19.45% 19.38% 19.39% 18.00% 16.00% 14.00% 12,1056 12,1256 12.59% hese 12.00% 10.97% 11,03% 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% 9/30/2021 9/30/2022 9/30/2023 9/30/2024 9/30/2025 «3/31/2026 m Total Risk Based m Tier 1 Leverage NASDAQ; TSBK
Slide 12: Book Value and Tangible Book Value per Share
BOOK VALUE AND TANGIBLE BOOK VALUE PER SHARE —qufsaSna $40.00 $35.00 $31.33 $30.00 $34.61 $33.29 $32.65 $30.83 $28.76 $28.87 $26.58 $26.81 $24.76 $24.63 $25.00 $22.80 9/30/2021 9/30/2022 9/30/2023 9/30/2024 9/30/2025 3/31/2026 $20.00 $15.00 $10.00 $5.00 $0.00 See Non-GAAP Disclosure Slide for Additi
Slide 13: Dividends Paid/Declared per Common Share
DIVIDENDS PAID/DECLARED PER COMMON SHARE nna WSBagrore (Calendar Year) $1.20 $1.04 86.58 $1.08 E 0.97 $1.00 $0.92 $s! $0.80 $0.60 $0.58 $0.40 $0.20 $0.00 2021 2022 2023 2024 2025 2026 YTD Regular = Special NASDAQ: TSBK
Slide 14: Deposit Levels
DEPOSIT LEVELS $ in millions NASDAQ; TSBK $2,000 $1,800 $u717 $1,743 Sean $1871 $1,632 $1,561 $1,648 $1,400 $1,200 $1,000 $800 $600 $400 $200 S 9/30/2021 9/30/2022 9/30/2023 9/30/2024 9/30/2025 3/31/2026 HNon-Interest Bearing Demand INOW Checking li Money Market llSavings ll Certificates of Deposit
Slide 15: Deposit Composition
DEPOSIT COMPOSITION Total Deposits $1.74 Billion at March 31, 2026 = CDs Brokered CDs >$250,000 = CDs <$250,000 ™ Money market = Savings = NOW checking = Non interest-bearing demand NASDAQ; TSBK
Slide 16: Borrowings
BORROWINGS Sin thousands \ Baer Total Borrowings $100,000 $90,000 $80,000 $70,000 $60,000 $50,000 $40,000 $35,000 $30,000 $20,000 $20,000 += $20,000 $20,000 “mm = [| [| [| $. =] $0 9/30/2021 9/30/2022 9/30/2023 9/30/2024 9/30/2025 3/31/2026 NASDAQ; TSBK
Slide 17: Net Loans
NET LOANS Sin millions 1,400 : $1,302 $1,200 $1,132 $968 $1,000 $927 $800 $600 $400 $200 $- 9/30/2021 9/30/2022 9/30/2023 9/30/2024 9/30/2025 3/31/2026 Net Loans (excl. SBAPPP) ™ SBA PPP Loans NASDAQ; TSBK
Slide 18: Diversified Loan Portfolio
DIVERSIFIED LOAN PORTFOLIO Net Loans $1.45 billion at March 31, 2026 2% 3% = Land Consumer = Multi-Family = Commercial business = 1-4 Family = Construction mCRE NASDAQ; TSBK
Slide 19: CRE Portfolio Breakdown by Collateral
CRE PORTFOLIO BREAKDOWN BY COLLATERAL nna at March 31, 2026 (S in thousands) XK Bancorp Collateral Type ve cigictal licen Avg. Balance Per Loan Portfolio Industrial warehouse $131,278 $1,353 gs Medical/dental offices $80,060 5% $1,213 237 Office buildings $69,655 4% $19 294 Other retail buildings $5
Slide 20: Construction Loans
CONSTRUCTION LOANS Total Construction Loans $216 million at March 31, 2026 = Land Development ™ Spec. 1-4Family = Commercial = Multi-Family = Custom Constructionf/Owner- Builder NASDAQ; TSBK
Slide 21: Interest Earning Cash & Investments
INTEREST EARNING CASH & INVESTMENTS nna Interest Earning Cash & Investments: $492 million at March 31, 2026 = Other Securities & Mutual Funds » CDs Held for Investment = U.S. Government Securities = Mortgage Backed Securities = Overnight Funds NASDAQ; TSBK
Slide 22: Asset Quality
ASSET QUALITY Non-performing Assets/Total Assets 1.00% 0.80% 0.60% 0.47% 0.40% 0.23% 0.20% 0.18% 0.20% 0.12% | 0.09% ance a 9/30/2021 9/30/2022 9/30/2023 9/30/2024 9/30/2025 3/31/2026 NASDAQ; TSBK
Slide 23: Net Charge-Offs (Recoveries)
NET CHARGE-OFFS (RECOVERIES) S in thousands miedo WSBagrore $1,000 $900 $800 $700 $600 $500 $400 $300 $240 $200 $100 $36 $54 $0 = = ($100) ($55) FY 2021 FY 2022 FY 2023 FY 2024 FY 2025, YID FY 2026 NASDAQ; TSBK
Slide 24: Net Interest Income and Net Interest Margin
NET INTEREST INCOME AND NET INTEREST MARGIN —qusSna S in thousands \SS Bancorp $80,000 4.50% $70,000 oe 376% 3.83% 4.00% $60,000 325% 3.16% 3.50% $50,000 2006 $40,000 250% 2.00% $30,000 1.50% $20,000 oO $10,000 piste So 0.00% FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 = -YID FY 2026 M@ENet Interest Inc
Slide 25: Quarterly Net Interest Income and Net Interest Margin
QUARTERLY NET INTEREST INCOME AND NET INTEREST MARGIN S$ in thousands $20,000 4.00% $18,000 $16,000 3.81% 3.80% $14,000 $12,000 $10,000 3.60% $8,000 $6,000 3.40% $4,000 $2,000 $0 3.20% 1024 2024 3024 4024 1025 2025 3025 4025 1026 2026 M@ENet Interest Income © —Net Interest Margin NASDAQ; TSBK
Slide 26: Non-Interest Income
NON-INTEREST INCOME S in thousands miedo XS Bancorp $20,000 $18,000 17,161 $16,000 cual $12,624 id $12,352 $12,000 $11,140 $11,136 $10,000 $8,000 $6,000 $5,571 $4,000 $2,000 i $0 FY 2021, FY 2022 FY 2023 FY 2024 FY 2025, YTD F¥ 2026 NASDAQ; TSBK
Slide 27: Non-Interest Expense
NON-INTEREST EXPENSE Sin thousands miedo WSBagrore $60,000 $50,000 $45,387 $43,373 $43,746 $40,000 $38,626 $34,591 $30,000 $23,090 $20,000 $10,000 $0 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 YTD FY 2026 NASDAQ; TSBK
Slide 28: Efficiency Ratio
EFFICIENCY RATIO miedo << Bagcore 100.00%, 90.00% 80.00% 70.00% 60.00% 56.42% 58.09% 54.56% 54.98% 53.99% 50.12% 50.00% 40.00% 30.00% 20.00% 10.00% 0.00% FY 2021, FY 2022 FY 2023 FY 2024 FY 2025, YTD FY 2026 NASDAQ; TSBK
Slide 29: NASDAQ; TSBK
NASDAQ; TSBK
Slide 30: New Timberland Bank Branch - University Place
New Timberland Bank Branch — University Place A New Full-Service Branch was opened in January 2026: The Branch is located in University Place, WA Located ona high visibility street with access to many nearby businesses and residential neighborhoods Between ourexisting Tacoma, WA and Gig Harbor, WA b
Slide 31: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES The Company reports its results in accordance with United States generally accepted account principles (“GAAP”). Timberland believes that certain non-GAAP measures provide investors with information useful in understanding the Company’s financial performance; however, rea
Slide 32: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES miedo XS Bancorp (Sin thousands) 9/30/2021 9/30/2022 9/30/2023 9/30/2024 9/30/2025 3/31/2026 Shareholders’ equity $ 206,899 $ 218569 $ 238,078 245,413 262,614 271,089 Less goodwill and CDI (16,395) (16,079) (15,808) (15,582) (15,402) (15,334) Tangible common equity 190,50
Slide 33: Timberland Bancorp
Timberland Bancorp NASDAQ: TSBK * Strong Core Earnings * Well Capitalized © Geographically Diversified * Diversified Loan Portfolio * Strong Care Depasit Levels * Actively Supporting Its Communities
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