Timberland Bancorp, Inc. · NASDAQ:TSBK

Timberland Bancorp — Merger or Acquisition (May 2018)

6 slides from Timberland Bancorp's merger presentation, May 23, 2018

  1. Slide 1: Timberland Bancorp, Inc. to acquire South Sound Bank

    “iN (leg Timberland Bancorp, Inc. & nfs Bank Wz = 7 Since 15 to acquire SouthSoundBank May 22, 2018

  2. Slide 2: Forward Looking Statements

    FORWARD LOOKING STATEMENTS This presentation contains forward-looking statements regarding Timberland Bancorp, Timberland Bank (collectively “Timberland”), South Sound Bank (‘South Sound”), the proposed merger and the combined company after the close of the transaction that are intended to be covere

  3. Slide 3: Aggregate Merger Consideration and Transaction Metrics

    Aggregate Merger Consideration Purchase Accounting Transaction Metrics Cost Savings / Synergies Fixed exchange ratio of 0.746 TSBK shares for each South Sound Bank share and fixed cash consideration of $5.68825 per share Indicative price per share of $30.12 1.64% gross loan credit mark (approximatel

  4. Slide 4: Franchise Geographic Presence

    Pro Forma Franchise Ge ogra phic Presienece Deposit Market Share — Washington Pro Forma Branch Network wood Edmonds 9" Number Depositsin Market e shoteyne of Market Share i Rank Institution Branches (Sum) (4) 5% @ Seattle dleeterve Bank of America Carp. $32,822 21.6 ‘ LN) ted ‘Wells Fargo & Co. 17,7

  5. Slide 5: Loan Summary

    Pro Forma Loan Summary South Sond Commuaner & ‘Game Otter Other Commercial & Ser 2.2% Idustial Conmnercial fe 5.9% Industeal Resilental RE 144% faeS Construction 43% Occupied Residential RE yo CRE 141% 23% Loans by Type ($000) Construction & Land $203,636 $5,915 $209,551 Residential R.E. $112,862 $1

  6. Slide 6: Deposit Summary

    Pro Forma Deposit Summary South Sond Tinae Deposits ‘Tans Deposits Demand Deposits Deposits 25.4% 25.2% MMDA & Other Savings 22.8% Deposits by Type ($000) Demand Deposits $222,302 $42,395 $264,697 NOW & Other Trans. Acts $227,075 $77,413 $304,488 MMDA & Other Savings $288,957 $24,899 $313,856 Time D

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