Board Change • May 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 4 highly experienced directors. Director Bob Drugge was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 29
Timberland Bancorp, Inc. Announces Quarterly Cash Dividend, Payable on May 22, 2026 Timberland Bancorp, Inc. announced a quarterly cash dividend to shareholders to $0.29 per share, payable on May 22, 2026, to shareholders of record on May 8, 2026. Announcement • Jan 27
Timberland Bancorp, Inc. Announces Increase in Quarterly Cash Dividend, Payable on February 27, 2026 Timberland Bancorp, Inc. Board of Directors announced a 4% increase to the quarterly cash dividend to shareholders to $0.29 per share, payable on February 27, 2026, to shareholders of record on February 13, 2026. Announcement • Dec 18
Timberland Bancorp, Inc., Annual General Meeting, Jan 27, 2026 Timberland Bancorp, Inc., Annual General Meeting, Jan 27, 2026. Announcement • Dec 14
Timberland Bancorp, Inc. Announces Change of Chief Credit Officer, Effective December 11, 2025 Timberland Bancorp, Inc. announced that Todd Van Cise and the Company mutually agreed to cancel Mr. Van Cise's employment agreement, effective December 11, 2025, to allow Mr. Van Cise to pursue other career opportunities. Mr. Van Cise had been with the Company since 2012 and had served as the Chief Credit Officer since January 1, 2024. As a result of Mr. Van Cise leaving the Company, Kevin Sakamoto, age 57, was appointed as the Chief Credit Officer of the Company, effective December 11, 2025. Mr. Sakamoto has been affiliated with the Company since 2023, serving as the Vice President of Credit Administration and Special Assets. Mr. Sakamoto has over 30 years of commercial banking experience, having worked at several financial institutions, including serving as the Chief Credit Officer of Bank Reale. Mr. Sakamoto is a graduate of the University of Washington and Pacific Coast Banking School. Announcement • Oct 31
Timberland Bancorp, Inc. Announces Increase in Quarterly Cash Dividend, Payable on November 28, 2025 The Board of Directors Timberland Bancorp, Inc. announced an 8% increase to the quarterly cash dividend to shareholders to $0.28 per share, payable on November 28, 2025, to shareholders of record on November 14, 2025. Announcement • Jul 23
Timberland Bancorp, Inc. Announces Quarterly Cash Dividend, Payable on August 22, 2025 Timberland Bancorp, Inc.'s board of directors announced a quarterly cash dividend to shareholders of $0.26 per share, payable on August 22, 2025, to shareholders of record on August 8, 2025. Announcement • Dec 20
Timberland Bancorp, Inc., Annual General Meeting, Jan 28, 2025 Timberland Bancorp, Inc., Annual General Meeting, Jan 28, 2025. Announcement • Nov 06
Timberland Bancorp, Inc. Announces A Quarterly Cash Dividend, Payable on November 29, 2024 Board of Directors of Timberland Bancorp, Inc. announced a 4% increase to the quarterly cash dividend to shareholders to $0.25 per share, payable on November 29, 2024, to shareholders of record on November 15, 2024. Declared Dividend • Apr 27
Second quarter dividend of US$0.24 announced Shareholders will receive a dividend of US$0.24. Ex-date: 9th May 2024 Payment date: 24th May 2024 Dividend yield will be 3.7%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 23% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 3.4% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 24
Second quarter 2024 earnings released: EPS: US$0.71 (vs US$0.81 in 2Q 2023) Second quarter 2024 results: EPS: US$0.71 (down from US$0.81 in 2Q 2023). Revenue: US$18.2m (down 5.9% from 2Q 2023). Net income: US$5.71m (down 14% from 2Q 2023). Profit margin: 31% (down from 35% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 2% per year. Upcoming Dividend • Feb 02
Upcoming dividend of US$0.24 per share at 3.4% yield Eligible shareholders must have bought the stock before 08 February 2024. Payment date: 23 February 2024. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of American dividend payers (4.7%). In line with average of industry peers (3.2%). Reported Earnings • Jan 23
First quarter 2024 earnings released: EPS: US$0.78 (vs US$0.91 in 1Q 2023) First quarter 2024 results: EPS: US$0.78 (down from US$0.91 in 1Q 2023). Revenue: US$18.5m (down 7.3% from 1Q 2023). Net income: US$6.30m (down 16% from 1Q 2023). Profit margin: 34% (down from 38% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 2% per year. Announcement • Jan 23
Timberland Bancorp, Inc. Announces Quarterly Cash Dividend, Payable on February 23, 2024 Timberland Bancorp, Inc.’s Board of Directors announced a $0.01 increase in the quarterly cash dividend to shareholders to $0.24 per share, payable on February 23, 2024, to shareholders of record on February 9, 2024. Reported Earnings • Dec 13
Full year 2023 earnings released: EPS: US$3.32 (vs US$2.84 in FY 2022) Full year 2023 results: EPS: US$3.32 (up from US$2.84 in FY 2022). Revenue: US$77.4m (up 14% from FY 2022). Net income: US$27.1m (up 15% from FY 2022). Profit margin: 35% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 8% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions Derivative • Sep 10
CEO & Director exercised options and sold US$107k worth of stock On the 6th of September, Dean Brydon exercised 10.00k options at around US$9.00, then sold 6k of the shares acquired at an average of US$28.31 per share and kept the remainder. For the year to September 2016, Dean's total compensation was 69% salary and 31% non-salary. Since December 2022, Dean has owned 51.36k shares directly. Company insiders have collectively sold US$506k more than they bought, via options and on-market transactions in the last 12 months. Upcoming Dividend • Aug 04
Upcoming dividend of US$0.23 per share at 3.0% yield Eligible shareholders must have bought the stock before 10 August 2023. Payment date: 25 August 2023. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of American dividend payers (4.7%). Lower than average of industry peers (3.4%). Reported Earnings • Jul 28
Third quarter 2023 earnings released: EPS: US$0.77 (vs US$0.69 in 3Q 2022) Third quarter 2023 results: EPS: US$0.77 (up from US$0.69 in 3Q 2022). Revenue: US$18.9m (up 11% from 3Q 2022). Net income: US$6.31m (up 9.9% from 3Q 2022). Profit margin: 33% (in line with 3Q 2022). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • May 04
Upcoming dividend of US$0.23 per share at 4.0% yield Eligible shareholders must have bought the stock before 11 May 2023. Payment date: 26 May 2023. Payout ratio is a comfortable 13% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of American dividend payers (5.1%). In line with average of industry peers (3.8%). Reported Earnings • Apr 29
Second quarter 2023 earnings released: EPS: US$0.81 (vs US$0.64 in 2Q 2022) Second quarter 2023 results: EPS: US$0.81 (up from US$0.64 in 2Q 2022). Revenue: US$19.3m (up 21% from 2Q 2022). Net income: US$6.66m (up 25% from 2Q 2022). Profit margin: 35% (up from 33% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Feb 02
Upcoming dividend of US$0.23 per share at 2.8% yield Eligible shareholders must have bought the stock before 09 February 2023. Payment date: 24 February 2023. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of American dividend payers (4.2%). Lower than average of industry peers (6.0%). Reported Earnings • Jan 24
First quarter 2023 earnings released: EPS: US$0.91 (vs US$0.66 in 1Q 2022) First quarter 2023 results: EPS: US$0.91 (up from US$0.66 in 1Q 2022). Revenue: US$19.9m (up 24% from 1Q 2022). Net income: US$7.51m (up 37% from 1Q 2022). Profit margin: 38% (up from 34% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 5% per year. Announcement • Jan 24
Timberland Bancorp, Inc. Announces Quarterly Cash Dividend, Payable on February 24, 2023 Timberland’s Board of Directors announced a $0.01 increase in the quarterly cash dividend to shareholders to $0.23 per share, payable on February 24, 2023, to shareholders of record on February 10, 2023. Announcement • Jan 14
Timberland Bancorp, Inc. and Timberland Bank Announces Executive Changes On January 13, 2023, Timberland Bancorp, Inc. (the “Company”) and its wholly-owned subsidiary, Timberland Bank (the “Bank”) announced that, effective March 31, 2023, Robert Drugge, who holds the position of Chief Lending Officer will retire. Mr. Drugge will be replaced by Matthew DeBord who has been with the Company since 2012 and currently holds the position of Senior Vice President and serves as a Commercial Bank Team Leader. Mr. DeBord is a graduate of the University of Washington and Pacific Coast Banking School and began his banking career as a regulator with the Washington State Department of Financial Institutions, Division of Banks. The Company also announced succession plans for the Chief Credit Officer position. Current Chief Credit Officer, Ed Foster announced that he plans to retire effective December 31, 2023. Todd Van Cise, who has been with the Bank since 2012 will begin transitioning into credit administration and will replace Ed Foster as the Chief Credit Officer. Mr. Van Cise holds the position of Senior Vice President and has been serving as a Commercial Bank Team Leader. Mr. Van Cise is a graduate of the University of Washington and Pacific Coast Banking School and previously served four years in the United States Army. The Company also announced that Carol Duris will be promoted to the Commercial Bank Team Leader for the Pierce, King and Kitsap County markets. Ms. Duris holds the position of Senior Vice President and has been with the Bank since 2014. Ms. Duris will move into this role in conjunction with Mr. Van Cise’s transition into credit administration. Ms. Duris is a graduate of the University of Puget Sound and Pacific Coast Banking School. Announcement • Dec 17
Timberland Bancorp, Inc., Annual General Meeting, Jan 24, 2023 Timberland Bancorp, Inc., Annual General Meeting, Jan 24, 2023, at 13:00 Pacific Standard Time. Agenda: To discuss Election of three directors to each serve for a term of three years;to discuss Advisory (non-binding) approval of our executive compensation as disclosed in this Proxy Statement;and to discuss Ratification of the Audit Committee's selection of Delap LLP as independent registered public accounting firm for 2023. Recent Insider Transactions • Dec 14
CEO & Director recently sold US$348k worth of stock On the 12th of December, Michael Sand sold around 10k shares on-market at roughly US$34.19 per share. This transaction amounted to 6.1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Michael's only on-market trade for the last 12 months. Reported Earnings • Dec 12
Full year 2022 earnings released: EPS: US$2.84 (vs US$3.31 in FY 2021) Full year 2022 results: EPS: US$2.84 (down from US$3.31 in FY 2021). Revenue: US$68.2m (down 1.2% from FY 2021). Net income: US$23.6m (down 14% from FY 2021). Profit margin: 35% (down from 40% in FY 2021). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Recent Insider Transactions Derivative • Nov 12
CEO & Director notifies of intention to sell stock Michael Sand intends to sell 3k shares in the next 90 days after lodging an Intent To Sell Form on the 4th of November. If the sale is conducted around the recent share price of US$31.94, it would amount to US$96k. For the year to September 2016, Michael's total compensation was 66% salary and 34% non-salary. Since December 2021, Michael has owned 166.94k shares directly. Company insiders have collectively sold US$105k more than they bought, via options and on-market transactions in the last 12 months. Announcement • Nov 03
Timberland Bancorp, Inc. Declares Quarterly Cash Dividend, Payable on November 25, 2022 The Board of Directors of Timberland Bancorp, Inc. declared a quarterly cash dividend to shareholders of $0.22 per share. The dividend is payable on November 25, 2022, to shareholders of record on November 10, 2022. Reported Earnings • Nov 03
Full year 2022 earnings released: EPS: US$2.84 (vs US$3.31 in FY 2021) Full year 2022 results: EPS: US$2.84 (down from US$3.31 in FY 2021). Revenue: US$68.2m (down 1.2% from FY 2021). Net income: US$23.6m (down 14% from FY 2021). Profit margin: 35% (down from 40% in FY 2021). The decrease in margin was primarily driven by higher expenses. Net interest margin (NIM): 3.16% (down from 3.25% in FY 2021). Cost-to-income ratio: 56.4% (up from 50.1% in FY 2021). Non-performing loans: 0.16% (down from 0.26% in FY 2021). Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 3% per year. Announcement • Nov 02
Timberland Bancorp, Inc. Declares Special Cash Dividend, Payable on November 25, 2022 The Board of Directors of Timberland Bancorp, Inc. declared a quarterly a special cash dividend of $0.10 per share. The dividend is payable on November 25, 2022, to shareholders of record on November 10, 2022. Upcoming Dividend • Aug 04
Upcoming dividend of US$0.22 per share Eligible shareholders must have bought the stock before 11 August 2022. Payment date: 26 August 2022. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of American dividend payers (4.1%). Lower than average of industry peers (5.5%). Announcement • Jul 28
Timberland Bancorp, Inc. Declares Quarterly Cash Dividend, Payable on August 26, 2022 Timberland Bancorp, Inc. announced that Board of Directors declared a quarterly cash dividend to shareholders of $0.22 per share, payable on August 26, 2022, to shareholders of record on August 12, 2022. Reported Earnings • Jul 27
Third quarter 2022 earnings released: EPS: US$0.69 (vs US$0.84 in 3Q 2021) Third quarter 2022 results: EPS: US$0.69 (down from US$0.84 in 3Q 2021). Revenue: US$17.1m (down 1.9% from 3Q 2021). Net income: US$5.74m (down 18% from 3Q 2021). Profit margin: 34% (down from 40% in 3Q 2021). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 2% per year. Upcoming Dividend • May 05
Upcoming dividend of US$0.22 per share Eligible shareholders must have bought the stock before 12 May 2022. Payment date: 27 May 2022. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of American dividend payers (3.8%). Lower than average of industry peers (5.9%). Reported Earnings • Apr 27
Second quarter 2022 earnings: EPS exceeds analyst expectations Second quarter 2022 results: EPS: US$0.64 (down from US$0.87 in 2Q 2021). Revenue: US$16.0m (down 8.5% from 2Q 2021). Net income: US$5.33m (down 27% from 2Q 2021). Profit margin: 33% (down from 42% in 2Q 2021). The decrease in margin was primarily driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.3%. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Apr 27
Timberland Bancorp, Inc. Declares Quarterly Cash Dividend, Payable on May 27, 2022 Timberland Bancorp, Inc. announced that Board of Directors declared a quarterly cash dividend to shareholders of $0.22 per share, payable on May 27, 2022, to shareholders of record on May 13, 2022. Upcoming Dividend • Feb 03
Upcoming dividend of US$0.22 per share Eligible shareholders must have bought the stock before 10 February 2022. Payment date: 25 February 2022. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of American dividend payers (3.6%). Lower than average of industry peers (3.7%). Reported Earnings • Jan 25
First quarter 2022 earnings: EPS exceeds analyst expectations First quarter 2022 results: EPS: US$0.66 (down from US$0.88 in 1Q 2021). Revenue: US$16.1m (down 8.2% from 1Q 2021). Net income: US$5.49m (down 25% from 1Q 2021). Profit margin: 34% (down from 42% in 1Q 2021). The decrease in margin was primarily driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.3%. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Dec 11
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: EPS: US$3.31 (up from US$2.92 in FY 2020). Revenue: US$69.0m (up 7.1% from FY 2020). Net income: US$27.6m (up 14% from FY 2020). Profit margin: 40% (up from 38% in FY 2020). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.25% (down from 3.90% in FY 2020). Cost-to-income ratio: 50.1% (up from 50.0% in FY 2020). Non-performing loans: 0.26% (no change from 0.26% in FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.3%. Earnings per share (EPS) surpassed analyst estimates by 4.3%. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 5% per year. Executive Departure • Aug 25
Independent Director James Davis has left the company On the 24th of August, James Davis' tenure as Independent Director ended after 4.4 years in the role. We don't have any record of a personal shareholding under James' name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 14.92 years. Upcoming Dividend • Aug 05
Upcoming dividend of US$0.31 per share Eligible shareholders must have bought the stock before 12 August 2021. Payment date: 27 August 2021. Trailing yield: 2.9%. Lower than top quartile of American dividend payers (3.5%). Lower than average of industry peers (3.5%). Reported Earnings • Jul 29
Third quarter 2021 earnings released: EPS US$0.84 (vs US$0.75 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$17.4m (up 6.7% from 3Q 2020). Net income: US$7.02m (up 13% from 3Q 2020). Profit margin: 40% (up from 38% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Upcoming Dividend • May 06
Upcoming dividend of US$0.21 per share Eligible shareholders must have bought the stock before 13 May 2021. Payment date: 28 May 2021. Trailing yield: 2.9%. Lower than top quartile of American dividend payers (3.4%). In line with average of industry peers (3.1%). Announcement • Apr 29
Timberland Bancorp Inc. Declares Quarterly Cash Dividend, Payable on May 28, 2021 Timberland Bancorp, Inc. declared a quarterly cash dividend to shareholders of $0.21 per common share payable on May 28, 2021, to shareholders of record on May 14, 2021. Reported Earnings • Apr 29
Second quarter 2021 earnings released: EPS US$0.87 (vs US$0.60 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$17.5m (up 20% from 2Q 2020). Net income: US$7.25m (up 44% from 2Q 2020). Profit margin: 42% (up from 35% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Recent Insider Transactions Derivative • Mar 04
Executive VP & COO exercised options and sold US$70k worth of stock On the 1st of March, Jonathan Fischer exercised 3k options at a strike price of around US$6.00 and sold these shares for an average price of US$28.43 per share. This trade did not impact their existing holding. As of today, Jonathan currently holds no shares directly. Company insiders have collectively sold US$360k more than they bought, via options and on-market transactions in the last 12 months. Is New 90 Day High Low • Feb 25
New 90-day high: US$28.18 The company is up 18% from its price of US$23.89 on 25 November 2020. The American market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Mortgage industry, which is up 7.0% over the same period. Reported Earnings • Feb 11
First quarter 2021 earnings released: EPS US$0.88 (vs US$0.80 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$17.6m (up 4.4% from 1Q 2020). Net income: US$7.29m (up 9.6% from 1Q 2020). Profit margin: 42% (up from 40% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Upcoming Dividend • Feb 04
Upcoming Dividend of US$0.31 Per Share Will be paid on the 26th of February to those who are registered shareholders by the 11th of February. The trailing yield of 3.6% is below the top quartile of American dividend payers (3.9%), but it is higher than industry peers (3.1%). Is New 90 Day High Low • Jan 15
New 90-day high: US$27.60 The company is up 42% from its price of US$19.44 on 16 October 2020. The American market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Mortgage industry, which is up 6.0% over the same period. Recent Insider Transactions • Dec 31
Insider recently sold US$124k worth of stock On the 24th of December, Daniel Yerrington sold around 5k shares on-market at roughly US$25.14 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$159k more than they bought in the last 12 months. Is New 90 Day High Low • Dec 24
New 90-day high: US$24.88 The company is up 48% from its price of US$16.80 on 24 September 2020. The American market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Mortgage industry, which is up 15% over the same period. Announcement • Dec 19
Timberland Bancorp, Inc., Annual General Meeting, Jan 26, 2021 Timberland Bancorp, Inc., Annual General Meeting, Jan 26, 2021, at 13:00 US Eastern Standard Time. Agenda: To Elect three directors to each serve for a term of three years, and one director to serve for a term of two years; to consider the Advisory (non-binding) approval of executive compensation as disclosed in this Proxy Statement; and to consider the Ratification of the Audit Committee’s selection of Delap LLP as independent registered public accounting firm for 2021. Reported Earnings • Dec 11
Full year 2020 earnings released: EPS US$2.92 The company reported a decent full year result with improved earnings, although revenues and profit margins were flat. Full year 2020 results: Revenue: US$64.5m (flat on FY 2019). Net income: US$24.3m (up 1.0% from FY 2019). Profit margin: 38% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Nov 25
Timberland Bancorp, Inc. Announces Change of Board of Directors Timberland Bancorp, Inc. announced that Kelly A. Suter has been appointed to the Boards of Directors of the company and the Bank. Ms. Suter has been appointed to serve on the Board in place of Daniel Yerrington whom announced his retirement November 25, 2020 from Timberland’s Boards having reached Timberland’s mandatory retirement age. Dan is the former CEO of South Sound Bank which Timberland acquired in October 2018. Ms. Suter is an executive leader with over 25 years of experience. Throughout her career she has developed extensive expertise in finance, enterprise technology, software development, and digital transformation. She has more than a decade of specialized experience in modernizing technology infrastructure in the highly regulated environments associated with utilities, banking, and outsourced payroll. Most recently, she served as the Chief Operating Officer of Calico Energy in Seattle, where she led finance, services, operations, internal technology, and data center activities, including cyber risk management. Kelly began her career at Price Waterhouse in the Silicon Valley. Subsequently, she relocated to the Pacific Northwest and took on increasingly senior finance and technology leadership roles across a wide variety of industries. A common thread throughout her career has been a dedication to scaling businesses through digital transformation. She has an extensive background in evaluating technology investments designed to enhance the customer experience and improve operating efficiencies. Is New 90 Day High Low • Nov 25
New 90-day high: US$24.70 The company is up 44% from its price of US$17.11 on 26 August 2020. The American market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Mortgage industry, which is down 4.0% over the same period. Valuation Update With 7 Day Price Move • Nov 12
Market bids up stock over the past week After last week's 15% share price gain to US$23.02, the stock is trading at a trailing P/E ratio of 7.9x, up from the previous P/E ratio of 6.9x. This compares to an average P/E of 12x in the Mortgage industry in the US. Total return to shareholders over the past three years is a loss of 12%. Is New 90 Day High Low • Nov 04
New 90-day high: US$21.27 The company is up 25% from its price of US$16.98 on 05 August 2020. The American market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Mortgage industry, which is down 2.0% over the same period. 
