Timberland bancorp inc, (TSBK)
Balance Sheet / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Sep'10
Assets
Cash and cash equivalents:
Cash and due from financial institutions

22,862

24,322

25,179

24,169

23,957

18,938

20,238

19,552

15,508

16,952

17,447

17,476

17,060

16,598

16,686

16,394

17,121

12,481

14,014

13,800

12,474

12,583

11,818

13,500

11,437

11,508

12,879

10,757

11,250

12,082

11,008

12,489

11,154

12,671

11,455

10,997

9,466

Interest-bearing deposits in banks

145,286

94,529

117,836

146,666

150,629

142,805

128,626

137,274

153,897

149,255

130,741

114,964

130,980

118,872

92,255

72,779

92,908

81,119

78,275

62,373

69,619

57,772

60,536

50,467

58,804

54,730

81,617

71,788

74,550

73,766

85,660

80,499

100,467

98,876

100,610

103,306

102,320

Total cash and cash equivalents

168,148

118,851

143,015

170,835

174,586

161,743

148,864

156,826

169,405

166,207

148,188

132,440

148,040

135,470

108,941

89,173

110,029

93,600

92,289

76,173

82,093

70,355

72,354

63,967

70,241

66,238

94,496

82,545

85,800

85,848

96,668

92,988

111,621

111,547

112,065

114,303

111,786

Certificates of deposit (“CDs”) held for investment (at cost, which approximates fair value)

82,472

76,249

78,346

81,184

65,737

65,830

63,290

63,132

52,938

53,528

43,034

41,187

52,934

53,432

53,000

52,435

52,524

50,865

48,611

47,053

41,868

37,997

35,845

32,336

31,385

32,428

30,042

26,749

26,057

26,752

23,490

22,781

20,180

19,810

18,659

18,087

18,047

Investment securities held to maturity, at amortized cost (estimated fair value $38,332 and $32,580)

36,667

39,080

31,102

37,645

41,361

31,950

12,810

7,951

8,070

7,077

7,139

7,244

7,326

7,418

7,511

7,618

7,743

7,824

7,913

8,018

5,106

5,201

5,298

5,417

5,511

2,617

2,737

2,892

3,060

3,197

3,339

3,503

3,706

3,941

4,145

4,283

5,066

Investment securities available for sale, at fair value

41,470

37,873

22,532

2,028

2,141

2,197

1,154

1,176

1,193

1,221

1,241

1,260

1,272

1,288

1,342

1,363

1,365

1,362

1,392

1,401

1,486

1,494

2,857

2,928

2,991

3,930

4,101

4,370

4,463

4,682

4,945

5,113

5,261

6,284

6,717

7,679

11,119

Investments in equity securities, at fair value

969

953

958

951

937

925

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Federal Home Loan Bank of Des Moines (“FHLB”) stock

1,922

1,437

1,437

1,437

1,437

1,395

1,190

1,190

1,107

1,107

1,107

1,107

2,307

2,204

2,204

2,804

2,804

2,699

2,699

2,699

5,135

5,191

5,246

5,299

5,351

5,401

5,452

5,502

5,553

5,604

5,655

5,705

5,705

5,705

5,705

5,705

5,705

Other investments, at cost

-

-

-

-

-

-

3,000

-

-

-

3,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other investments, at cost

3,000

3,000

3,000

3,000

3,000

3,000

-

3,000

3,000

3,000

-

3,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loans Receivable, net of allowance for loan losses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

523,980

-

-

Loans held for sale

5,798

5,420

6,071

3,338

3,068

2,988

1,785

2,321

3,981

3,407

3,599

3,523

5,798

2,008

3,604

4,885

1,584

1,304

3,051

3,835

2,252

1,195

899

1,501

1,332

994

1,911

2,433

3,787

2,036

1,427

4,064

1,296

3,110

4,044

766

2,970

Loans receivable, net of allowance for loan losses of $11,890 and $9,690

907,657

913,150

886,662

873,982

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loans receivable, net of allowance for loans losses of $9,690 and $9,530

-

-

-

-

-

-

725,391

-

-

-

690,364

-

-

-

663,146

657,208

632,894

634,430

614,201

604,843

592,402

582,722

564,853

566,757

564,109

565,655

557,329

553,981

554,313

554,659

537,053

544,708

545,961

537,904

-

532,322

535,885

Less: Allowance for loan losses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9,842

10,043

9,889

9,924

10,467

10,382

10,322

-

10,563

10,749

10,745

11,136

11,126

11,313

11,769

-

11,603

-12,264

-11,972

-

-11,790

-11,264

Loans Receivable, Net

-

-

-

-

873,284

857,070

-

717,324

708,568

705,268

-

687,158

676,079

669,140

-

647,366

622,851

625,845

604,280

598,211

584,272

573,595

-

557,695

554,692

555,904

548,104

545,288

546,787

544,926

-

537,169

534,993

529,042

523,980

521,298

527,591

Net loans receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

565,752

-

-

-

-

-

-

-

538,480

-

-

-

-

-

-

Premises and equipment, net

23,072

22,588

22,830

23,090

22,852

22,884

18,953

18,515

18,053

18,307

18,418

18,465

18,013

17,816

16,159

16,224

16,355

16,589

16,854

17,083

17,422

17,574

17,679

17,867

17,785

17,914

17,764

18,043

18,126

18,027

17,886

17,723

17,640

17,353

17,390

16,981

17,383

Other real estate owned (“OREO”) and other repossessed assets, net

1,623

1,659

1,683

1,719

2,006

2,026

1,913

2,112

2,221

2,887

3,301

3,417

3,005

3,254

4,117

4,762

5,458

7,667

7,854

8,063

7,866

8,220

9,092

11,172

13,208

12,483

11,720

15,314

15,031

13,230

13,302

9,997

8,024

7,714

10,811

10,996

11,519

Accrued interest receivable

3,595

3,665

3,598

3,759

3,702

3,497

2,877

2,797

2,655

2,743

2,520

2,437

2,443

2,443

2,348

2,270

2,232

2,234

2,170

2,132

2,060

1,967

1,910

1,922

2,003

2,092

1,972

2,015

2,081

2,080

2,183

2,161

2,369

2,388

2,411

2,527

2,630

Bank owned life insurance (“BOLI”)

21,299

21,152

21,005

20,866

20,707

22,599

19,813

19,673

19,539

19,402

19,266

19,127

18,994

18,858

18,721

18,580

18,443

18,306

18,170

18,034

17,900

17,769

17,632

17,494

17,361

17,217

17,102

16,956

16,812

16,668

16,524

16,374

16,228

16,074

15,917

13,762

13,400

Goodwill

15,131

15,131

15,131

15,131

15,131

14,620

5,650

5,650

5,650

5,650

5,650

5,650

5,650

5,650

5,650

5,650

5,650

5,650

5,650

5,650

5,650

5,650

5,650

5,650

5,650

5,650

5,650

5,650

5,650

5,650

5,650

5,650

5,650

5,650

5,650

5,650

5,650

Core deposit intangible (“CDI”), net

1,828

1,930

2,031

2,144

2,264

2,374

0

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

32

61

90

119

151

184

217

249

286

323

360

397

439

564

Servicing rights, net

2,724

2,599

2,408

2,372

2,322

2,338

2,028

1,980

1,910

1,871

1,825

1,781

1,710

1,706

1,573

1,516

1,488

1,475

1,478

1,469

1,484

1,549

1,684

1,812

1,958

-

2,266

2,333

2,412

2,213

2,011

2,150

2,284

2,169

2,108

2,463

1,929

Operating lease right-of-use (ROU) assets

2,759

2,823

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Escrow deposit for business combination

-

-

-

0

0

0

6,900

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

BOLI death benefit receivable

-

-

-

1,019

3,048

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Prepaid Federal Deposit Insurance Corporation (FDIC) insurance assessment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

758

957

1,186

1,415

1,643

-

2,103

-

-

Prepaid Federal Deposit Insurance Corporation ("FDIC") insurance assessment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,873

-

2,335

3,268

Other assets

2,967

2,982

5,323

2,810

2,986

2,879

2,672

2,736

2,911

2,220

3,372

3,213

3,111

3,064

3,072

3,493

3,436

3,263

3,407

3,801

3,928

3,355

4,566

4,040

4,220

3,825

4,123

4,967

5,347

4,570

5,386

6,121

7,082

5,939

6,122

8,510

7,030

Total assets

1,323,101

1,270,542

1,247,132

1,247,310

1,240,569

1,200,315

1,018,290

1,006,383

1,001,201

993,895

952,024

931,009

946,682

923,751

891,388

858,139

851,962

837,379

815,815

789,787

776,270

749,917

745,565

727,631

732,417

727,933

745,648

732,775

738,121

734,621

736,954

729,136

742,709

735,849

738,224

735,018

742,687

Liabilities and shareholders’ equity
Liabilities
Deposits:
Non-interest-bearing demand

316,328

297,676

296,472

287,552

287,338

271,251

233,258

229,201

222,302

210,108

205,952

197,527

186,239

176,382

172,283

149,575

148,980

142,279

141,388

122,133

117,481

105,941

106,417

92,995

95,607

98,585

87,657

83,043

80,938

78,425

75,296

70,004

69,633

61,178

64,494

57,735

58,755

Interest-bearing

809,320

786,801

771,755

784,983

784,256

763,926

656,248

651,526

658,109

665,966

631,946

621,291

622,613

613,593

589,251

565,806

563,058

555,491

537,524

532,585

525,792

512,045

508,699

505,637

508,767

502,898

520,605

513,021

520,647

515,974

522,630

520,362

534,963

527,997

528,184

531,763

520,114

Total deposits

1,125,648

1,084,477

1,068,227

1,072,535

1,071,594

1,035,177

889,506

880,727

880,411

876,074

837,898

818,818

808,852

789,975

761,534

715,381

712,038

697,770

678,912

654,718

643,273

617,986

615,116

598,632

604,374

601,483

608,262

596,064

601,585

594,399

597,926

590,366

604,596

589,175

592,678

589,498

578,869

FHLB borrowings

10,000

-

0

-

-

-

-

-

-

-

-

0

30,000

30,000

30,000

45,000

45,000

45,000

45,000

45,000

45,000

45,000

45,000

45,000

45,000

45,000

45,000

45,000

45,000

45,000

45,000

45,000

45,000

55,000

55,000

55,000

75,000

Operating lease liabilities

2,759

2,823

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase agreements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

549

625

855

826

948

538

729

598

622

Other liabilities and accrued expenses

6,686

7,589

7,838

8,506

6,637

8,233

4,127

4,762

2,947

3,709

3,126

3,575

3,001

4,142

3,020

3,306

2,662

3,558

2,716

2,779

2,573

2,664

2,671

2,669

3,019

2,362

2,698

2,477

2,456

2,694

2,854

3,669

4,181

3,806

3,612

3,588

2,788

Total liabilities

1,145,093

1,094,889

1,076,065

1,081,041

1,078,231

1,043,410

893,633

885,489

883,358

879,783

841,024

822,393

841,853

824,117

794,554

763,687

759,700

746,328

726,628

702,497

690,846

665,650

662,787

646,301

652,393

648,845

655,960

643,541

649,590

642,718

646,635

639,861

654,725

648,519

652,019

648,684

657,279

Commitments and contingencies (See Note 16)

-

-

-

-

-

-

-

-

-

-

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

Shareholders’ equity
Preferred stock, $0.01 par value; 1,000,000 shares authorized; none issued

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

-

-

-

-

0

0

0

11,936

11,889

11,842

16,292

16,229

16,168

16,107

16,048

15,989

15,932

15,764

Common stock, $0.01 par value; 50,000,000 shares authorized; 8,309,193 shares issued and outstanding - March 31, 2020 8,329,419 shares issued and outstanding - September 30, 2019

42,258

43,246

43,030

43,398

43,351

42,951

14,394

14,162

13,891

13,540

13,286

13,223

12,986

10,188

9,961

9,818

9,698

10,402

10,293

10,948

10,892

10,846

10,773

10,710

10,663

10,614

10,570

10,551

10,524

10,500

10,484

10,500

10,480

10,464

10,457

10,464

10,377

Unearned shares issued to Employee Stock Ownership Plan (“ESOP”)

-

-

-

0

0

67

133

199

265

331

397

463

529

595

661

728

793

859

926

992

1,058

1,124

1,190

1,256

1,322

1,388

1,454

1,521

1,587

-1,653

1,719

-1,785

-1,851

-1,917

-1,983

-2,049

-2,247

Retained earnings

135,929

132,553

127,987

122,904

119,032

114,166

110,525

107,065

104,349

101,039

98,235

96,018

92,550

90,230

87,709

85,635

83,643

81,823

80,133

77,673

75,937

74,909

73,534

72,240

71,088

70,211

68,998

68,665

68,198

67,232

65,788

64,905

63,826

63,286

62,270

62,608

62,238

Accumulated other comprehensive income (loss)

-179

-146

50

-33

-45

-145

-129

-134

-132

-136

-124

-162

-178

-189

-175

-273

-286

-315

-313

-339

-347

-364

-339

-364

-405

-349

-362

-350

-446

-468

-463

-513

-578

-551

-528

-621

-724

Total shareholders’ equity

178,008

175,653

171,067

166,269

162,338

156,905

124,657

120,894

117,843

114,112

111,000

108,616

104,829

99,634

96,834

94,452

92,262

91,051

89,187

87,290

85,424

84,267

82,778

81,330

80,024

79,088

89,688

89,234

88,531

91,903

90,319

89,275

87,984

87,330

86,205

86,334

85,408

Total liabilities and shareholders’ equity

1,323,101

1,270,542

1,247,132

1,247,310

1,240,569

1,200,315

1,018,290

1,006,383

1,001,201

993,895

952,024

931,009

946,682

923,751

891,388

858,139

851,962

837,379

815,815

789,787

776,270

749,917

745,565

727,631

732,417

727,933

745,648

732,775

738,121

734,621

736,954

729,136

742,709

735,849

738,224

735,018

742,687