Timberland Bancorp, Inc., incorporated on September 8, 1997, is the holding company for Timberland Savings Bank, SSB (the Bank). The Bank is a community-oriented bank, which offers a range of savings products to its retail customers, while concentrating its lending activities on real estate mortgage loans and commercial business loans. The Bank offers personal banking solutions, business solutions, lending solutions and additional services.
Lending Activities
The Bank's principal lending activity consists of the origination of loans secured by first mortgages on owner-occupied, one- to four-family residences, or by commercial real estate and loans for the construction of one- to four-family residences. The Bank offers consumer loans and commercial business loans. The Bank originates both fixed-rate loans and adjustable-rate loans. The Bank also offers adjustable-rate mortgage (ARM) loans. These loans are secured by properties, such as office buildings, retail/wholesale facilities, mini-storage facilities, motels, nursing homes, restaurants and convenience stores, located in the Bank's primary market area. The Bank originates three types of residential construction loans: custom construction loans, owner/builder construction loans and speculative construction loans. The Bank also originates construction loans for the development of multi-family and commercial properties. As of September 30, 2016, the Bank's total loans amounted to $723.82 million.
Investment Activities
The Bank's investment securities are classified as available for sale and held to maturity. The Bank's investment portfolio consists of the United States treasury and the United States Government agency securities, and mortgage-backed securities. As of September 30, 2016, the Bank's investment portfolio totaled $8.9 million, consisting of $6.0 million of the United States treasury and the United States Government agency securities held to maturity, $1.5 million of mortgage-backed securities held to maturity, $976 million of mutual funds available for sale and $366 million of mortgage-backed securities available for sale. As of September 30, 2016, the Bank's total securities held to maturity amounted to $8.39 million. As of September 30, 2016, the Bank's total securities available for sale amounted to $1.3 million.
Sources of Funds
Deposits and loan repayments are the sources of the Bank's funds for lending and other investment purposes. The Bank offers various deposits, including non-interest bearing demand, negotiable order of withdrawal (NOW) checking, savings accounts and money market accounts. As of September 30, 2016, the Bank's total deposits amounted to $761.5 million.
624 Simpson Ave
The company trades on NASDAQ exchange. The company headquarter is located in Washington, WA. The company was established in the 1915.| Ticker | TSBK |
| Long Name | Timberland Bancorp, Inc. |
| Short Name | Timberland Bancorp |