- Timberland Bancorp is active in Washington State, running a very conservative balance sheet with almost no loan write-offs.
- The balance sheet is exceptionally liquid with almost 40% of the balance sheet invested in cash and investment securities.
- I'm charmed by the strong balance sheet, the 10x earnings multiple and the premium of less than 10% to the tangible book value.
- For every 100bp in interest increases, TSBK will see its EPS increase by $0.50 per year.
For further details see:
Timberland Bancorp: A 100 Bp Interest Rate Increase Will Boost The EPS By 20%