Timberland Bancorp Q2 EPS Rises 6% to $0.90; Dividend Set at $0.29
Timberland Bancorp posted Q2 net income of $7.13 million, EPS $0.90, up 6% year-over-year but down 13% from the prior quarter, with ROE at 10.72% and NIM at 3.81%. The board declared a $0.29 quarterly dividend, marking 54 consecutive payouts, as deposits rose 6% annually.
1. Quarterly Earnings Highlights
Timberland Bancorp reported Q2 net income of $7.13 million, or $0.90 per share, a 6% year-over-year increase but 13% quarter-over-quarter decline. ROE was 10.72%, ROA 1.43%, and net interest margin 3.81%.
2. Dividend Declaration
The board declared a $0.29 per share quarterly cash dividend payable May 22, marking 54 consecutive quarterly payments and reflecting strong capital position.
3. Deposit Growth and Credit Quality
Total deposits grew 2% from the prior quarter and 6% year-over-year, while net loans fell 1% quarter-over-quarter and rose 2% annually. Non-performing assets ratio increased to 0.47% from 0.23%.
4. Branch Expansion and Outlook
The new University Place branch, opened January 12, is gaining traction and enhances service capacity between Gig Harbor and Tacoma, supporting potential commercial banking growth in the local market.