Timberland Bancorp, Inc. reported net income of $6.76 million, or $0.85 per diluted common share, for the quarter ended March 31, 2025. This represents an 18% increase in net income and a 21% increase in earnings per share compared to the second fiscal quarter a year ago. For the first six months of fiscal 2025, net income increased 13% to $13.62 million, or $1.71 per diluted common share.
The net interest margin continued to improve, expanding 15 basis points to 3.79% compared to the preceding quarter. This improvement was primarily driven by a 15 basis point reduction in the weighted average cost of interest-bearing liabilities. The loan portfolio grew 1% from the prior quarter and 4% year-over-year, with total deposits increasing $20 million, or 1%, during the quarter.
Asset quality metrics showed improvement, with the non-performing asset ratio reaching 13 basis points and non-accrual loans decreasing by 15%. The Board of Directors announced a 4% increase to the quarterly cash dividend, raising it to $0.26 per share, payable on May 23, 2025. The company also repurchased 61,764 shares of common stock for $1.91 million during the quarter.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.