Timberland Bancorp, Inc. · NASDAQ:TSBK
Timberland Bancorp — FY2025 Earnings Presentation
35 slides from Timberland Bancorp's earnings presentation, Jul 23, 2025
Slide 1: Timberland Bancorp, June 30, 2025
LAN Timberland \S Banco: Akg Timberland Bancorp NASDAQ: TSBK June 30, 2025
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 Timberland 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 $30.00 $27.58 $27.12 $25.00 $24.27 $23.60 $24.28 $20.72 $20.00 $15.00 $10.00 $5.00 $0.00 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 YTD FY 2025 NASDAQ; TSBK
Slide 6: Quarterly Net Income
QUARTERLY NET INCOM E Sin millions miedo WSBagrore $7.50 $7.40 6.86 $6.64 56.36 $ $6.76 $6.30 . $5.71 $5.92 $5.00 $2.50 $0.00 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 NASDAQ; TSBK
Slide 7: Earnings Per Diluted Share
EARNINGS PER DILUTED SHARE miedo 3.50 ° $3.27 $3.29 3.01 $3.00 $2.88 8 $2.82 $2.60 $2.50 $2.00 $1.50 $1.00 $0.50 $0.00 FY 2020 FY 2021 FY 2022. FY 2023 FY 2024 YTD FY 2025 m1Q =2Q §3Q m4Q NASDAQ; TSBK
Slide 8: Return on Assets and Return on Equity
RETURN ON ASSETS AND RETURN ON EQUITY AN (Bancorp ROA ROE 2.00% 16.00% 1.75% 13.98% 1.80% yy 13.59% Leave 14.00% 1.60% 1.50% = 12.01% 1.44% 12.00% 11.14% 11.07% 1.40% LG 4.28% 10.19% 10.00% 1.20% 1.00% 8.00% D:80%: 6.00% 0.60% 4.00% 0.40% 2.00% 0.20% 0.00% 0.00% FY 2020 FY 2021 FY 2022 FY 2023 FY 20
Slide 9: Balance Sheet
BALANCE SH EET $ in millions Total Assets 52,800 $1,792 $1,861 $1,840 $1,600 $1,566 $1,400 $1,200 $1,000 $800 $600 $400 $200 $- 9/30/2020 9/30/2021 9/30/2022 9/30/2023 9/30/2024 6/30/2025 NASDAQ; TSBK
Slide 10: Total Capital
TOTAL CAPITAL S in thousands $275,000 $256,664 $245,413 $233,073 $225,000 $218,569 $206,899 $187,630 $175,000 $125,000 $75,000 $25,000 g25,000 9730/2020, 9/30/2021 9/30/2022 9/30/2023 9/30/2024 6/30/2025 NASDAQ; TSBK )
Slide 11: Capital Strength
CAPITAL STRENGTH 24.00% 22.17% 22.00% 21.34% 20.5496 20.00% 19.45% 19,3856 19,3956 18.00% 16.00% 14.00% 12,1056 12,1256 T205% 12.00% 11,2656 10,9756 11,03% 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% 9/30/2020 9/30/2021 9/30/2022 9/30/2023 9/30/2024 6/30/2025 Total Risk Based Tier 1 Leverage NASDAQ; TSBK
Slide 12: Book Value and Tangible Book Value Per Share
BOOK VALUE AND TANGIBLE BOOK VALUE PER SHARE tigen na $35.00 $30.00 $25.00 $32.58 $30.83 $30.62 $28.76 $28.87 $26.58 $26.81 $24.76 $24.63 $22.58 $22.80 $20.56 9/30/2020 9/30/2021 9/30/2022 9/30/2023 9/30/2024 6/30/2025 $20.00 $15.00 $10.00 $5.00 $0.00 See Non-GAAP Disclosure Slide for Additional Det
Slide 13: Dividends Paid/Declared Per Common Share
DIVIDENDS PAID/DECLARED PER COMMON SHARE nna WSBagrore (Calendar Year) $1.20 $1.04 $1.00 $0.98 = $0.97 0.80 $0.80 ° $0.77 $0.60 $0.40 $0.20 $0.00 2020 2021 2022 2023 2024 2025 YTD Regular = Special NASDAQ: TSBK
Slide 14: Deposit Levels
DEPOSIT LEVELS $ in millions $1,800 g1s71 $1,632 $1,648 $1,669 $1,600 , $1,561 $1,400 $1,358 $1,200 $1,000 $800 $600 $400 $200 $- 9/30/2020 9/30/2021 9/30/2022 9/30/2023 9/30/2024 6/30/2025 HNon-Interest Bearing Demand INOW Checking li Money Market llSavings ll Certificates of Deposit NASDAQ; TSBK
Slide 15: Deposit Composition
DEPOSIT COMPOSITION Total Deposits $1.67 Billion at June 30, 2025 = 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 $10,000 $10,000 $5,000 5 | = So 9/30/2020 9/30/2021 9/30/2022 9/30/2023 9/30/2024 6/30/2025 NASDAQ; TSBK
Slide 17: Net Loans
NET LOANS Sin millions $1,302 $1,200 $1,132 $1,000 $1,014 $968 $800 $887 $927 $600 $400 $200 $- 9/30/2020 9/30/2021 9/30/2022 9/30/2023 9/30/2024 6/30/2025 Net Loans (excl. SBAPPP) ™ SBA PPP Loans NASDAQ; TSBK
Slide 18: Diversified Loan Portfolio
DIVERSIFIED LOAN PORTFOLIO Net Loans $1.44 billion at June 30, 2025 2% = 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 June 30, 2025 (S in thousands) XK Bancorp Collateral Type ve cigictal licen Avg. Balance Per Loan Portfolio Industrial warehouse $128,822 Bs Scar $164 Medical/dental offices $81,238 5% $1,269 - Office buildings $ea,o16 5% $201 - Other retail buildings $54
Slide 20: Construction Loans
CONSTRUCTION LOANS Total Construction Loans $203 million at June 30, 2025 = Land Development = Spec. 1-4 Family = Commercial = Multi-Family = Custom Constructionf/Owner- Builder NASDAQ; TSBK
Slide 21: Interest Earning Cash & Investments
INTEREST EARNING CASH & INVESTMENTS anna Interest Earning Cash & Investments: $404 million at June 30, 2025 2% 2% = 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 0.75% 0.65% 0.55% 0.45% 0.35% 0.27% 0.25% 9% 0.21% ae 0.20% 0.15% i 12% a 09%, 0.05% -0.05% 9/30/2020 9/30/2021 1. a 9/30/2024 6/30/2025 NASDAQ; TSBK
Slide 23: Net Charge-Offs (Recoveries)
NET CHARGE-OFFS (RECOVERIES) S in thousands miedo \“s Bancorp $300 $250 $240 $200 $150 $100 $54 $50 $36 : I $o || = (gs) «(524) ($55) (s100) FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 YTD 2025 NASDAQ; TSBK
Slide 24: Net Interest Income and Net Interest Margin
NET INTEREST INCOME AND NET INTEREST MARGIN S$ in thousands $70,000 4.50% 4.00% $60,000 3.50% $50,000 3.00% $40,000 2.50% $30,000 2.00% 1.50% $20,000 1.00% $10,000 0.50% $0 0.00% FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 = YTD F¥ 2025 M@ENet Interest Income © —Net Interest Margin NASDAQ; TSBK
Slide 25: Quarterly Net Interest Income and Net Interest Margin
QUARTERLY NET INTEREST INCOME AND NET INTEREST MARGIN “AN Timberland S in thousands Niro $18,000 4.20% $16,000 $14,000 a00%6 $12,000 $10,000 380% $8,000 3.600 $6,000 : 94,000 3.40% $2,000 $0 3.20% 2023 3023 4023 1024 2024 3024 4024 1025 2025 3Q25 M@ENet Interest Income © —Net Interest Margin NASDAQ;
Slide 26: Non-Interest Income
NON-INTEREST INCOME S in thousands miedo XS Bancorp $20,000 $18,000 $17,188 $17,161 $16,000 $14,000 $12,624 $12,000 $11,140 $11,136 $10,000 $8,259 $8,000 $6,000 $4,000 $2,000 $0 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 YTD F¥ 2025 NASDAQ; TSBK
Slide 27: Non-Interest Expense
NON-INTEREST EXPENSE Sin thousands miedo RS Bancorn $60,000 $50,000 $43,373 $43,746 $40,000 $38,626 $34,063 $34,591 $33,428 $30,000 $20,000 $10,000 $0 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 YTD FY 2025 NASDAQ; TSBK
Slide 28: Efficiency Ratio
EFFICIENCY RATIO nna << Bagcore 100.00%, 90.00% 80.00% 70.00% 60.00% 56.42% 58.0976 55.65% 54.56% 50.04% 50.12% 50.00% 40.00% 30.00% 20.00% 10.00% 0.00% FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 YTD F¥ 2025 NASDAQ; TSBK
Slide 29: NASDAQ; TSBK
NASDAQ; TSBK
Slide 30: Member Impact Grant — Federal Home Loan Bank of Des Moines
Member Impact Grant — Federal Home Loan Bank of Des Moines Housing * Habitat for Humanity of Grays Harbor - $10,000 * Habitat for Humanity of South Puget Sound - $10,000 * WA Home Builders Foundation Build Strong Academy - $10,000 © NeighborWorks of Grays Harbor-$10,000 Service * Raise for Rowyn- $1
Slide 31: Slide 31
Slide 32: Technology Update
TECHNOLOGY UPDATE nna ENGAGING CUSTOMERS ¢ Enhance Online Banking ¢ Improving our residential lending solution ¢ Added fraud detection tools * Contactless debit cards — implementation completed OPTIMIZE OPERATIONS * Construction loan process improvement * Digitization NASDAQ; TSBK
Slide 33: 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 34: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES miedo XS Bancorp (Sin thousands) 9/30/2020 9/30/2021 9/30/2022 9/30/2023 9/30/2024 6/30/2025 Shareholders equity $ 187,680 $ 206,899 $ 218,569 238,073 245,418 256,664 Less goodwill and CDI (16,756) (16,395) (16,073) (15,808) (15,582) (15,447) Tangible common equity 170,87
Slide 35: Timberland Bancorp
Timberland Bancorp NASDAQ: TSBK * Strong Core Earnings * Well Capitalized © Geographically Diversified * Diversified Loan Portfolio * Strong Care Depasit Levels * Actively Supporting Its Communities