Apr 25, 201209:34 AMBlog

Timberland Bancorp posts drop in income for Q2

Apr 25, 2012 - 09:34 AM

Timberland Bancorp Inc. reported fiscal 2012 second quarter net income of $808,000. Net income available to common shareholders, after adjusting for the preferred stock dividend and the preferred stock discount accretion was $540,000, or 8 cents per diluted common share.

This compares to net income to common shareholders of $1.02 million, or 15 cents per diluted common share, for the quarter ended Dec. 31, 2011, and net income to common shareholders of $819,000, or 12 cents per diluted common share, for the quarter ended March 31, 2011.

Net income of $2.09 million was recorded for first half of fiscal 2012 compared to net income of $2.44 million for the first six months of fiscal 2011. Net income available to common shareholders for the first half of fiscal 2012 after the preferred stock dividend and the preferred stock discount accretion was $1.56 million, or 23 cents per diluted common share, compared to $1.92 million, or 28 cents per diluted common share, in the like period one year ago.

Timberland Bancorp's total risk-based capital ratio was 16.54 percent as of March 31. Its Tier 1 leverage capital ratio was 11.42 percent and its tangible capital to tangible assets ratio was 11.13 percent.

Hoquiam-based Timberland Bancorp is the holding company for Timberland Bank, which serves consumers and businesses across Grays Harbor, Thurston, Pierce, King, Kitsap and Lewis counties.

            

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