Timberland Bancorp, Inc. (TSBK): history, ownership, mission, how it works & makes money

A Brief History of Timberland Bancorp, Inc. (TSBK)

Foundation and Early Years

Timberland Bancorp, Inc. was founded in 1915 and is headquartered in Hoquiam, Washington. It originally operated as a single branch thrift institution. The bank was initially focused on serving the local community through traditional banking services, primarily concentrating on savings accounts and home loans.

Growth and Expansion

Throughout the late 20th century, Timberland Bancorp expanded its footprint in the Washington state region. In 1998, Timberland Bancorp became a publicly traded company, listing its shares on the NASDAQ under the ticker symbol TSBK. At the time of its IPO, the bank raised approximately $11 million in capital.

Acquisitions

In 2004, Timberland Bancorp made a significant acquisition by purchasing the assets of the failed Washington Mutual Bank's branch in Hoquiam, enhancing its market presence. This acquisition was part of a larger strategy to solidify its position as a community bank in the Pacific Northwest.

Recent Performance Metrics

As of the end of the fiscal year 2022, Timberland Bancorp reported total assets of approximately $1.2 billion, with total deposits of around $1.0 billion. The company's net income for the fiscal year was reported at $8.3 million, translating to a return on average assets (ROAA) of 0.73%.

Financial Highlights

Community Engagement

Timberland Bancorp has consistently been involved in community development programs. As of 2023, the bank has invested over $1 million in local initiatives promoting education, affordable housing, and financial literacy.

Challenges and Adaptations

In recent years, Timberland Bancorp has faced challenges due to fluctuating interest rates and increasing competition within the banking sector. However, the bank has adapted by enhancing its digital banking services and improving customer experience.

Outlook

As of the latest reports in 2023, Timberland Bancorp continues to focus on strategic growth opportunities while maintaining a strong balance sheet. Analysts project a modest growth rate in both assets and net income over the next few years, with expectations of reaching $1.3 billion in total assets by 2025.

Conclusion

Timberland Bancorp has established itself as a resilient community bank with a strong commitment to customer service and local involvement. Its historical growth and adaptation strategies position it well for future opportunities in the financial services marketplace.

A Who Owns Timberland Bancorp, Inc. (TSBK)

Shareholder Structure

Timberland Bancorp, Inc. (TSBK), as a publicly traded company, has a diverse range of shareholders. The ownership can be categorized into institutional investors, retail investors, and insiders.

Institutional Ownership

As of the latest available data, institutional investors hold approximately 55% of Timberland Bancorp, Inc.'s shares. Notable institutional shareholders include:

Insider Ownership

Insider ownership represents a significant part of TSBK's structure. Insiders, including executives and board members, hold approximately 10% of the company's shares. Key insiders include:

Retail Ownership

Retail investors make up the remaining 35% of ownership. This category includes individual shareholders who invest in the stock through various brokerage platforms. The retail investor base is essential for liquidity in the stock market.

Recent Financial Overview

For the fiscal year ended June 30, 2023, Timberland Bancorp, Inc. reported the following key financial metrics:

Recent Stock Performance

The stock performance of Timberland Bancorp, Inc. (TSBK) over the past year has been noteworthy:

Timberland Bancorp, Inc. (TSBK) Mission Statement

Corporate Vision

The mission of Timberland Bancorp, Inc. is to be a trusted financial partner in the communities they serve, focusing on providing exceptional customer service, robust financial solutions, and community engagement. The organization's dedication to both its clientele and local engagement is paramount.

Core Values

• Integrity: Commit to honesty and accountability in all dealings.
• Service Excellence: Provide outstanding support and service to customers.
• Community Commitment: Foster relationships with local organizations and initiatives.
• Teamwork: Collaborate effectively across the organization to better serve customers.

Financial Performance Indicators

As of the latest fiscal quarter, Timberland Bancorp reported the following financial performance metrics:

Community Engagement Programs

Timberland Bancorp is involved in numerous community initiatives, emphasizing their commitment to local development.

• Financial Literacy Programs: Educational workshops provided to local schools and organizations.
• Philanthropic Contributions: Over $200,000 donated to local charities in the past year.
• Volunteerism: Employees participated in over 1,500 hours of community service in 2022.
• Partnerships: Collaborations with over 30 local organizations for community enhancement.

Customer-Centric Approach

Timberland Bancorp places a strong emphasis on understanding their customers' needs, which is reflected in several initiatives:

• Personalized Financial Services: Tailored banking solutions for individuals and businesses.
• Customer Satisfaction Rate: 92% customer satisfaction as per the latest survey.
• Technology Integration: Enhanced mobile banking app with user-friendly features.
• Feedback Mechanisms: Regular customer feedback sessions to improve services.

Future Objectives

Timberland Bancorp aims to achieve the following objectives over the next five years:

• Asset Growth: Targeting a growth rate of 10% in total assets annually.
• Market Expansion: Open two new branches in underserved communities by 2025.
• Sustainable Practices: Implement green banking initiatives to reduce carbon footprint.
• Innovation: Invest in technology to enhance customer experience.

How Timberland Bancorp, Inc. (TSBK) Works

Overview of Timberland Bancorp, Inc.

Timberland Bancorp, Inc. is a bank holding company headquartered in Shelton, Washington, primarily engaged in the business of providing banking services through its wholly-owned subsidiary, Timberland Bank. As of 2023, the bank operates 12 branches across Washington State.

Financial Performance

As of the end of fiscal year 2022, Timberland Bancorp reported the following financial metrics:

Core Banking Operations

The bank offers a range of products and services, which include:

• Residential Mortgage Loans
• Commercial Real Estate Loans
• Construction Loans
• Consumer Loans
• Depository Accounts
• Online and Mobile Banking Services

Loan Portfolio Composition

The composition of Timberland's loan portfolio as of 2022 is as follows:

Deposit Base

The breakdown of deposits at Timberland Bancorp includes:

Market Presence

Timberland Bancorp focuses primarily on the Washington State market and is known for its community-oriented banking approach, which appeals to local businesses and consumers.

Recent Developments

In the fiscal year 2022, Timberland Bancorp saw an increase in digital banking adoption, with approximately 60% of customers actively using online banking services.

Conclusion

Timberland Bancorp, Inc. maintains a strong financial position within the regional banking sector, emphasizing community relationships and a diversified portfolio of banking services.

How Timberland Bancorp, Inc. (TSBK) Makes Money

Core Business Model

Timberland Bancorp, Inc. primarily operates as a bank holding company. Its main revenue sources are derived from the following segments:

• Interest income from loans
• Service charges and fees
• Investment income

Interest Income

The majority of Timberland Bancorp’s revenue comes from interest income, which is generated from loans extended to customers. For the fiscal year ending September 30, 2022, the company reported:

Service Charges and Fees

Timberland Bancorp also generates revenue through various service charges and fees, which accounted for a significant portion of non-interest income. In the same fiscal year, the company reported:

Investment Income

Investment income is another significant revenue source for Timberland Bancorp. This income largely comes from interest earned on investment securities. For the year ending September 30, 2022, the company reported:

Operating Expenses

To understand how Timberland Bancorp operates financially, it’s essential to consider its operating expenses, which include:

• Salaries and employee benefits
• Occupancy expenses
• Advertising expenses
• Professional fees
• Other general administrative expenses

For the fiscal year 2022, Timberland Bancorp's total operating expenses were:

Net Income and Profitability

Timberland Bancorp has experienced fluctuating profitability. The net income reported for the fiscal year ending September 30, 2022, was:

The various income streams combined with careful management of expenses allow Timberland Bancorp to maintain a profitable operation within the financial services sector.