Timberland Bancorp, Inc. · NASDAQ:TSBK
Timberland Bancorp — Q2 FY2025 Earnings Presentation
36 slides from Timberland Bancorp's earnings presentation, Apr 24, 2025
Slide 1: Timberland Bancorp, March 31, 2025
LAN Timberland \S Banco: NS =" Timberland Bancorp NASDAQ: TSBK March 31, 2025
Slide 2: Disclaimer
DISCLAIMER niGdna (SS Bancorp 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 ca
Slide 3: Timberland Branch Locations
TIMBERLAND BRANCH LOCATIONS Tithberiind Montesano Tumwatei Lacey (2 branches) | NASDAQ: TSBK 3
Slide 4: Executive Management
EXECUTIVE MANAGEMENT DEAN J. BRYDON Chief Executive Officer 31 Years of Service at Timberland Bank 31 Years in the Industry JONATHAN A. FISCHER President, Chief Operating Officer & Secretary 27 Years of Service at Timberland Bank 29 Years in the Industry MARCI A. BASICH EVP, Chief Financial Officer
Slide 5: Financial Highlights
tN ZS Timberland XS Bancorp FINANCIAL HIGHLIGHTS NASDAQ: TSBK &
Slide 6: Net Income
NET INCOM E $ in millions $30.00 $27.58 $27.12 $25.00 $24.27 $23.60 $24.28 $20.00 $15.00 $13.62 $10.00 $5.00 $0.00 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 YTD FY 2025 NASDAQ; TSBK
Slide 7: Quarterly Net Income
QUARTERLY NET INCOME Sin millions Ti Lad Bancorp $7.50 $6.64 $6.86 $6.76 $6.31 $6.30 $6.36 $5.71 $5.92 $5.00 $2.50 $0.00 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 NASDAQ; TSBK
Slide 8: Earnings Per Diluted Share
EARNINGS PER DILUTED SHARE nate Nina 3.50 ° $3.27 $3.29 3.01 $3.00 $2.88 8 $2.82 $2.50 $2.00 SLIL $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 9: Return on Assets and Return on Equity
RETURN ON ASSETS AND RETURN ON EQUITY 2.00% 1.80% 1.60% 1.40% 1.20% 1.00% 0.80% 0.60% 0.40% 0.20% 0.00% ROA 1.75% 1.68% 1.50% 1.42% 1.27% | 1.28% Fy 2020 FY 2021 FY 2022 FY 2023 FY 2024 YTDFY 2025 16.00% 14,00% 12,00% 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% ROE 13.59% 15.38% 12.01% 11.14% 10.99% | | 10
Slide 10: Balance Sheet
BALANCE SH EET $ in millions Total Assets $1,923 $1,933 sa,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 3/31/2025 NASDAQ; TSBK
Slide 11: Total Capital
TOTAL CAPITAL S in thousands $275,000 $245,413 $252,524 $233,073 $225,000 $218,569 $206,899 $187,630 $175,000 $125,000 $75,000 $25,000 25,000 9730/2020, 9/30/2021 9/30/2022 9/30/2023 9/30/2024 3/31/2025 NASDAQ; TSBK
Slide 12: Capital Strength
CAPITAL STRENGTH 24.00% 22.17% 22.00% 21.34% 20.299 20.00% 19,4596 19.38% 19.39% 18.00% 16.00% 14.00% 12.10% 12.12% picaiea 12.00% 11.26% 10.97% 11,0856 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 3/31/2025 Total Risk Based Tier 1 Leverage NASDAQ; TSBK
Slide 13: Book Value and Tangible Book Value Per Share
BOOK VALUE AND TANGIBLE BOOK VALUE PER SHARE ss _-aukhpertSnd $35.00 $30.00 $25.00 $31.95 $30.83 $28.76 $28.87 oats $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 3/31/2025 $20.00 $15.00 $10.00 $5.00 $0.00 See Non-GAAP Disclosure Slide for Addition
Slide 14: Dividends Paid/Declared Per Common Share
DIVIDENDS PAID/DECLARED PER COMMON SHARE nna SBaprorP (Calendar Year) $1.20 $1.04 $1.00 $0.98 a $0.97 $0.80 $0.80 $0.60 $0.51 $0.40 $0.20 $0.00 2020 2021 2022 2023 2024 2025 YTD mRegular_ = Special NASDAQ: TSBK
Slide 15: Deposit Levels
DEPOSIT LEVELS $ in millions $1,800 $1571 $1,632 $1,648 $1,651 $1,600 $1,561 $1,400 $1,358 $1,200 $1,000 $800 $600 $400 $200 S.. 9/30/2020 9/30/2021 9/30/2022: 9/30/2023 9/30/2024 3/31/2025 HNon-Interest Bearing Demand INOW Checking li Money Market llSavings ll Certificates of Deposit NASDAQ; TSBK a
Slide 16: Deposit Composition
DEPOSIT COMPOSITION Total Deposits $1.65 Billion at March 31, 2025 = CDs Brokered CDs >$250,000 = CDs <$250,000 & Money market = Savings = NOW checking = Non-interest-bearing demand NASDAQ; TSBK
Slide 17: Borrowings
BORROWINGS Sin thousands 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 3/31/2025 NASDAQ; TSBK
Slide 18: Net Loans
NET LOANS Sin millions $1,422 $1,420 $1,400 $1,302 $1,200 $1,132 $1,014 $968 $1,000 $800 $887 $927 $600 $400 $200 $- 9/30/2020 9/30/2021 9/30/2022 9/30/2023 9/30/2024 3/31/2025 Net Loans (excl. SBAPPP) = SBA PPP Loans NASDAQ; TSBK
Slide 19: Diversified Loan Portfolio
DIVERSIFIED LOAN PORTFOLIO Net Loans $1.42 billion at March 31, 2025 = Land Consumer = Multi-Family = Commercial business = 1-4 Family = Construction mCRE NASDAQ; TSBK
Slide 20: CRE Portfolio Breakdown by Collateral
CRE PORTFOLIO BREAKDOWN BY COLLATERAL nna at March 31, 2025 (S in thousands) \cBogcorp Collateral Type ectaictal ican Avg. Balance Per Loan Portfolio Industrial warehouse $127,898 Bs $1,255, $163 Medical/dental offices $84,013 5% $1,254 - Office buildings $68,239 5% $784 - Other retail buildings $53
Slide 21: Construction Loans
CONSTRUCTION LOANS Total Construction Loans $208 million at March 31, 2025 = Land Development ™ Spec. 1-4Family = Commercial = Multi-Family = Custom Constructionf/Owner- Builder NASDAQ; TSBK
Slide 22: Interest Earning Cash & Investments
INTEREST EARNING CASH & INVESTMENTS anna Interest Earning Cash & Investments: $405 million at March 31, 2025 2% 2% = Other Securities & Mutual Funds = CDs Held for Investment = U.S. Government Securities = Mortgage Backed Securities = Overnight Funds NASDAQ; TSBK
Slide 23: Asset Quality
ASSET QUALITY Non-performing Assets/Total Assets 0.75% 0.65% 0.55% 0.45% 0.35% 0.27% 0.25% 0.20% 0.18% 0.15% T 12%, i 13%, a 09%, 0.05% -0.05% 9/30/2020 9/30/2021 1 a 9/30/2024 i NASDAQ; TSBK
Slide 24: Net Charge-Offs (Recoveries)
NET CHARGE-OFFS (RECOVERIES) S in thousands niGdna \s Bancorp $300 $250 $242 $200 $150 $100 $54 $50 $36 : I $o || = (gs) (524) ($55) ($100) FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025, NASDAQ; TSBK
Slide 25: 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% $10,099 0.50% $0 0.00% FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 = YTD F¥ 2025 M@Net Interest Income || —Net Interest Margin NASDAQ; TSBK
Slide 26: Quarterly Net Interest Income and Net Interest Margin
QUARTERLY NET INTEREST INCOME AND NET INTEREST MARGIN LAN Timberland S in thousands Wire $18,000 4.20% $16,000 $14,000 4.00% $12,000 3.79% oy $10,000 : $8,000 3.60% $6,000 $4,000 3.40% $2,000 $0 3.20% 1023 2023 3023 4023 1024 2024 3024 4024 1025 2Q25 M@Net Interest Income || —Net Interest Margin NAS
Slide 27: Non-Interest Income
NON-INTEREST INCOME S$ in thousands niGdna XS Bancorp $20,000 $18,000 $17,188 $17,161 $16,000 $14,000 $12,624 $12,000 $11,140 $11,136 $10,000 $8,000 $6,000 $5,384 $4,000 $2,000 $0 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 YTD F¥ 2025 NASDAQ; TSBK
Slide 28: Non-Interest Expense
NON-INTEREST EXPENSE Sin thousands niGdna ie Bancore $60,000 $50,000 $43,373 $43,746 $40,000 $38,626 $34,063 $34,591 $30,000 $22,260 $20,000 $10,000 $0 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 YTD FY 2025 NASDAQ; TSBK
Slide 29: Efficiency Ratio
EFFICIENCY RATIO nna << Bageore 100.00, 90.00% 80.00% 70.00% 60.00% 56.42% 58.09% 56.26% 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 30: NASDAQ; TSBK
NASDAQ; TSBK
Slide 31: 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 32: Slide 32
Slide 33: Technology Update
TECHNOLOGY UPDATE nna << Bageore ENGAGING CUSTOMERS ¢ Enhance Online Banking ¢ — |mproving our residential lending solution ¢ Added fraud detection tools * Contactless debit cards — implementation completed OPTIMIZE OPERATIONS * Construction loan process improvement * Digitization NASDAQ; TSBK
Slide 34: 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 35: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES mins Weep (Sin thousands) 9/30/2020 9/30/2021 9/30/2022 9/30/2023 9/30/2024 3/31/2025 Shareholders equity $ 187,680 $ 206,899 $ 218,569 238,073 245,418 252,524 Less goodwill and CDI (16,756) (16,395) (16,079) (15,808) (15,582) (15,492) Tangible common equity 170,874 190,5
Slide 36: Timberland Bancorp
Timberland Bancorp NASDAQ: TSBK * Strong Core Earnings * Well Capitalized © Geographically Diversified * Diversified Loan Portfolio * Strong Core Deposit Levels ¢ Actively Supporting Its Communities