Timberland Bancorp (TSBK) Q2 24/25 earnings summary

Executive summary

• Net income for Q2 2025 was $6.76 million, up 18–21% year-over-year, and $13.62 million for the six months, driven by higher net interest income and improved efficiency.

• Diluted EPS was $0.85 for the quarter (up 21.4%) and $1.71 for the six months (up 16.3%).

• Total assets increased 0.5% to $1.93 billion, with net loans receivable stable at $1.42 billion and deposits up 0.2–1% to $1.65 billion.

• Shareholders' equity grew 2.9% to $252.52 million, reflecting strong earnings, stock option exercises, and partially offset by dividends and share repurchases.

• Board approved a 4% increase in quarterly dividend to $0.26 per share, marking the 50th consecutive quarterly dividend.

Financial highlights

• Net interest income increased 10.1% year-over-year to $17.21 million for the quarter, with net interest margin expanding to 3.79%.

• Non-interest income was $2.69 million, up 2.8–3% year-over-year but flat sequentially.

• Non-interest expense rose 1–2% year-over-year to $11.19 million, with efficiency ratio improving to 56.25%.

• Provision for credit losses was $246,000 for the quarter, down from $417,000 in the prior year period.

• Operating revenue for Q2 increased 9% year-over-year to $19.90 million.

Outlook and guidance

• Management expects continued strong liquidity and capital positions, with no material capital expenditures projected for the remainder of fiscal 2025.

• Loan portfolio expected to continue moderate growth; credit quality remains a focus.

• $675 million in secured borrowing capacity and $618.87 million in available FHLB credit.