Timberland Bancorp, Inc. · NASDAQ:TSBK
Timberland Bancorp — FY2026 Earnings Presentation
32 slides from Timberland Bancorp's earnings presentation, Nov 2, 2026
Slide 1: Timberland Bancorp
Timberland \X Bancorp Timberland Bancorp NASDAQ: TSBK September 30, 2026
Slide 2: Disclaimer
DISCLAIMER Tishberitnd Sl 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
Slide 3: Timberland Branch Locations
TIMBERLAND BRANCH LOCATIONS a Montesano Tumwate: " ue (2 branches Nee —————————————————————————— NASDAQ: TSBK 3)
Slide 4: Financial Highlights
"~N Timberland XQ Bancorp FINANCIAL HIGHLIGHTS SSS NASDAQ: TSBK 4
Slide 5: Net Income
NET INCOME S in millions NAS! $35.00 $30.00 $25.00 $20.00 $15.00 $10.00 $5.00 $0.00 $27.58 FY 2021 $23.60 FY 2022 $27.12 FY 2023 $24.28 FY 2024 $29.16 FY 2025 $31.17 FY 2026 VN Timberland \Gianeor
Slide 6: Quarterly Net Income
QUARTERLY NET INCOME sin mitiions NASDAQ: TSBK $9.00 $8.00 $7.00 $6.00 $5.00 $4.00 $3.00 $2.00 $1.00 $0.00 $6.86 $6.76 12/31/2024 3/31/2025 $7.10 6/30/2025 $8.45 $8.22 | | | 9/30/2025 12/31/2025 3/31/2026 $7.72 6/30/2026 $8.11 9/30/2026 NES \ Tishberiind seme
Slide 7: Earnings Per Diluted Share
EARNINGS PER DILUTED SHARE Tithberland \SBancorp $4.50 $3.96 $4.00 $3.67 $3.50 $3.27 $3.29 $3.01 $3.00 $2.82 $2.50 $2.00 $1.50 $1.00 $0.50 $0.00 FY 2021 Fy 2022 FY 2023 FY 2024 FY 2025 FY 2026 @1Q =2Q §3Q 84Q NASDAQ: TSBK 7
Slide 8: Return on Assets and Return on Equity
RETURN ON ASSETS AND RETURN ON EQUITY miko \Bageorp ROA ROE 1.80% 16.00% 1.64% 13.98% 60% 1.50% 150% 153% 14.00% 12.01% 1a 1.27% 1.28% 12.00% 11.14% 11.56% 11.55% 120% 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% FY2021 FY2022 FY 2023 FY2024 FY2025 FY 2026 FY 2021
Slide 9: Balance Sheet
BALANCE SHEET S in millions Ti tex. d {Bancorp Total Assets $2,500 $2,013 $2,064 $2,000 Zoi $1,861 S800 $1,923 $1,500 $1,000 $500 Se 9/30/2021 9/30/2022 9/30/2023 9/30/2024 9/30/2025 9/30/2026 NASDAQ: TSBK
Slide 10: Total Capital
TOTAL CAPITAL S in thousands Ti YAN d \ Bancorp $300,000 $276,309 $262,614 250,000 $245,413 . $233,073 $218,569 $206,899 $200,000 $150,000 $100,000 $50,000 0) 9/30/2021 9/30/2022 9/30/2023 9/30/2024 9/30/2025 9/30/2026 NAS!
Slide 11: Capital Strength
CAPITAL STRENGTH Tithberiind XS Bancorp 24.00% 22.17% 22.00% 20.67% 20.86% 20.00% 19.45% 19.38% 19.39% 18.00% 16.00% sain 12.10% 12.12% 12.59% 12.90% 12.00% 10.97% 11.03% =a 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 9/30/2026 @ Total Risk Based ™ Tier 1 L
Slide 12: Book Value and Tangible Book Value Per Share
BOOK VALUE AND TANGIBLE BOOK VALUE PER SHARE $40.00 $35.00 $30.00 $25.00 $20.00 $15.00 $10.00 $5.00 $0.00 $24.76 $22.80 9/30/2021 $26.58 $24.63 9/30/2022 $28.76 $26.81 9/30/2023 See Non-GAAP Disclosure Slide for Additional Details on Tangible Book Value Per Share NASDAQ: TSBK $30.83 $28.87 9/30/2024
Slide 13: Dividends Paid/Declared Per Common Share
DIVIDENDS PAID/DECLARED PER COMMON SHARE a \ Barone (Calendar Year) $1.40 $1.20 $1.19 $1.04 S098 $1.05 ; $0.97 $1.00 $0.92 $0.80 $0.60 $0.40 $0.20 $0.00 2021 2022 2023 2024 2025 2026 @Regular &® Special NASDAQ: TSBK
Slide 14: Deposit Levels
DEPOSIT LEVELS $ in mitions $1,800 1,717 $1,769 $1,571 $1,632 $1,648 oh $1,561 $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 9/30/2026 @ Non-Interest Bearing Demand mNOW Checking ™®Money Market mSavings m Certificates of Deposit Q: TSBK
Slide 15: Deposit Composition
DEPOSIT COMPOSITION Tithberiind {Bancorp Total Deposits $1.77 Billion at September 30, 2026 = CDs Brokered CDs >$250,000 = CDs <$250,000 m= Money market = Savings = NOW checking = Non-interest-bearing demand
Slide 16: Borrowings
BORROWINGS sin thousands mien ind NSE 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 $5,000 | [| $5,000 ;. $o = 9/30/2021 9/30/2022 9/30/2023 9/30/2024 9/30/2025 9/30/2026 NAS!
Slide 17: Net Loans
N ET LOANS S in millions NASDAQ: TSBK $1,800 $1,600 $1,400 $1,200 $1,000 $800 $600 $400 $200 S- $968 9/30/2021 $1,132 9/30/2022 Net Loans $1,302 9/30/2023 @ Net Loans $1,422 9/30/2024 $1,464 9/30/2025 $1,526 9/30/2026 Tithbertind \Bancorp
Slide 18: Diversified Loan Portfolio
DIVERSIFIED LOAN PORTFOLIO Tishberiind \Gianeor Net Loans $1.53 billion at September 30, 2026 m= Land = Consumer = Multi-Family = Commercial business = 1-4 Family = Construction m CRE
Slide 19: CRE Portfolio Breakdown by Collateral
CRE PORTFOLIO BREAKDOWN BY COLLATERAL at September 30, 2026 ($ in thousands) % of Total Loan Collateral Type Avg. Balance Per Loan Portfolio Industrial warehouse $145,595 oo Medical/dental offices $82,329 5% Salpitil 220 Office buildings $74,132 4% $862 - Other retail buildings $55,582 3% $625 Hotel
Slide 20: Construction Loans
CONSTRUCTION LOANS nike na Bancorp Total Construction Loans $248 million at September 30, 2026 = Land Development @ Spec. 1-4 Family = Commercial = Multi-Family = Custom Construction/Owner- Builder
Slide 21: Interest Earning Cash & Investments
INTEREST EARNING CASH & INVESTMENTS mikeoXna Interest Earning Cash & Investments: $416 million at September 30, 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 Be Se Non-performing Assets/Total Assets 1.00% 0.80% 0.60% 0.42% 0.40% 0.23% 0.20% 0.18% 0.20% [| a 0.09% 0.00% || 9/30/2021 9/30/2022 9/30/2023 9/30/2024 9/30/2025 9/30/2026 NAS!
Slide 23: Net Charge-Offs (Recoveries)
NET CHARGE-OFFS (RECOVERIES) s in thousands nelge tines \CBancorp $1,100 $1,049 $1,000 $900 $800 $700 $600 $500 $400 $300 $240 $200 $100 $36 0) Le = iz ($100) ($55) Fy 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 NASDAQ: TSBK
Slide 24: Net Interest Income and Net Interest Margin
NET INTEREST INCOME AND NET INTEREST MARGIN nities erland S in thousands \S Bancorp $80,000 3.87% 450% 3.95% $70,000 3.76% 4.00% . $60,000 3.50% 3.00% $50,000 2.50% $40,000 2.00% $30,000 1.50% $20,000 1.00% $10,000 050% $o 0.00% FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 lam Net Interest Income
Slide 25: Quarterly Net Interest Income and Net Interest Margin
QUARTERLY NET INTEREST INCOME AND NET INTEREST MARGIN YAN $ in thousands he $20,000 3.96% 4.00% $18,000 ; $16,000 $14,000 3.80% $12,000 $10,000 neue $8,000 $6,000 $4,000 3.40% $2,000 $0 3.20% 3Q24 4Q24 1025 2025 3Q25 4Q25 1026 2026 3Q26 4026 lam Net Interest Income —Net Interest Margin NASDAQ: TSBK
Slide 26: Non-Interest Income
NON-INTEREST INCOME S in thousands NASDAQ: TSBK $20,000 $18,000 $16,000 $14,000 $12,000 $10,000 $8,000 $6,000 $4,000 $2,000 so $17,161 FY 2021 $12,624 FY 2022 $11,140 FY 2023 $11,136 FY 2024 $12,352 FY 2025 $11,682 FY 2026 NES \ Tishberiind seme
Slide 27: Non-Interest Expense
NON-INTEREST EXPENSE s in thousands NASDAQ: TSBK $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 $o $34,591 FY 2021 $38,626 FY 2022 $43,373 FY 2023 $43,746 FY 2024 $45,387 FY 2025 $47,017 FY 2026 NES \ Tishberiind seme
Slide 28: Efficiency Ratio
EFFICIENCY RATIO Tishberiind \CBancorp 100.00% 90.00% 80.00% 70.00% 60.00% 56.42% 58.09% 54.56% 54.98% 53.83% 50.12% 50.00% 40.00% 30.00% 20.00% 10.00% 0.00% FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 NASDAQ: TSBK 2
Slide 29: New Timberland Bank Branch - University Place
New Timberland Bank Branch — University Place A New Full-Service Branch was opened in January 2026: © The Branch is located in University Place, WA Located on a high visibility street with access to many nearby businesses and residential neighborhoods Between our existing Tacoma, WA and Gig Harbor,
Slide 30: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES miko Bancorp * The Company reports its results in accordance with United States generally accepted account principles (“GAAP”). Timberland believes that certain non-GAAP measures provide investors with information useful in understanding the Company’s financial performanc
Slide 31: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES Tithberiind ($ in thousands) 9/30/2021 9/30/2022 9/30/2023 9/30/2024 9/30/2025 9/30/2026 Shareholders’ equity 206,899 218,569 233,073 245,413 262,614 276,309 Less goodwill and CDI (16,395) (16,079) (15,808) (15,582) (15,402) (15,266) Tangible common equity & 190,504 $ 202
Slide 32: Timberland Bancorp
Timberland Bancorp NASDAQ; TSBK ¢ Strong Core Earnings * Well Capitalized * Geographically Diversified * Diversified Loan Portfolio * Strong Core Deposit Levels * Actively Supporting Its Communities