Timberland Bancorp (TSBK) investor relations material

Opening remarks and agenda

• Meeting called to order virtually, with introductions of board members and independent auditors.

• Shareholders of record as of December 2, 2025, were eligible to vote, with 7,880,773 shares outstanding.

• Three agenda items: election of directors, advisory vote on executive compensation, and ratification of auditors.

Financial performance review

• Fiscal 2025 net income reached a record $29.2 million, $4.9 million higher than 2024.

• EPS for 2025 was $3.67, a 22% increase over 2024; Q1 2026 EPS up 21% year-over-year.

• Return on assets was 1.5% and return on equity 11.56% for 2025, both above peer averages.

• Total assets grew 5% in 2025, surpassing $2 billion; capital levels and ratios remain strong.

• Tangible book value per share rose 41% since 2021 to $32.11.

• Deposit levels increased 5% in 2025 after a 6% rise in 2024; core deposits remain strong.

• Loan portfolio grew 51% since 2021, with recent growth flattening due to increased payoffs.

• Non-performing assets at 0.23% of total assets; net charge-offs low at $240,000 for 2025.

• Net interest margin improved for seven consecutive quarters, reaching 3.85% most recently.

• Stock price increased from $29.52 to $37.42 over the past year, outperforming major bank indices.

Board and executive committee updates

• Directors Brydon, Stoney, and Suter nominated for re-election to three-year terms.