2024-02-04 11:40:00 ET
Summary
- Timberland Bancorp reported a Q1 2024 increase in interest and dividend income, but a decrease in net interest income.
- The bank reduced its loan loss provision and recorded a net profit of $6.3M.
- The bank's non-performing asset ratio increased, but its allowance for credit losses remains high.
Introduction
Timberland Bancorp ( TSBK ) is a small regional bank in Washington state with less than $1.9B in assets on its balance sheet. I have been keeping an eye on this small regional bank for a few years now, as I'm charmed by the management’s "hands-on" approach. The total return since my initial article in 2020 is approximately 54% vs. the 41% return offered by the S&P 500 ( SPY ) over the same period....
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For further details see:
Timberland Bancorp: Attractive At 1x TBV Thanks To Strong Loan Book