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Timberland Bancorp, Inc. and Subsidiary Condensed Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2011
Interest and dividend income      
Loans receivable $ 29,591 $ 30,831 $ 32,976
MBS and other investments 281 404 612
Dividends from mutual funds and FHLB stock 29 32 31
Interest-bearing deposits in banks 336 338 347
Total interest and dividend income 30,237 31,605 33,966
Interest expense      
Deposits 2,568 3,951 6,136
FHLB advances 1,871 1,996 2,397
Total interest expense 4,439 5,947 8,533
Net interest income 25,798 25,658 25,433
Provision for loan losses 2,925 3,500 6,758
Net interest income after provision for loan losses 22,873 22,158 18,675
Non-interest income      
Other than temporary impairment (“OTTI”) on MBS and other investments (15) (206) (236)
Adjustment for portion recognized in other comprehensive loss (before taxes) (32) (8) (211)
Net OTTI on MBS and other investments (47) (214) (447)
Realized losses on MBS and other investments 0 0 (2)
Gain on sales of MBS and other investments 0 22 79
Service charges on deposits 3,663 3,795 3,907
ATM and debit card interchange transaction fees 2,142 2,172 1,911
BOLI net earnings 577 607 517
Gain on sales of loans, net 2,507 2,472 1,548
Escrow fees 184 118 73
Fee income from non-deposit investment sales 82 71 92
Valuation recovery on MSRs, net 475 10 405
Other 679 728 598
Total non-interest income, net 10,262 9,781 8,681
Non-interest expense      
Salaries and employee benefits 12,605 12,050 12,578
Premises and equipment 2,835 2,676 2,632
(Gain) loss on disposition of premises and equipment, net (431) 0 16
Advertising 742 726 800
OREO and other repossessed assets, net 2,587 1,982 1,374
ATM 857 794 802
Postage and courier 443 501 540
Amortization of CDI 130 148 167
State and local taxes 576 608 622
Professional fees 856 822 753
FDIC insurance 685 942 1,161
Other insurance 174 212 359
Loan administration and foreclosure 430 816 959
Data processing and telecommunications 1,232 1,265 1,172
Deposit operations 607 776 675
Other 1,536 1,250 1,353
Total non-interest expense 25,864 25,568 25,963
Income before income taxes 7,271 6,371 1,393
Provision for federal income taxes 2,514 1,781 304
Net income 4,757 4,590 1,089
Preferred stock dividends (710) (832) (832)
Preferred stock discount accretion (283) (240) (225)
Repurchase of preferred stock at a discount 255 0 0
Net income to common shareholders $ 4,019 $ 3,518 $ 32
Net income per common share      
Basic (in dollars per share) $ 0.59 $ 0.52 $ 0.00
Diluted (in dollars per share) $ 0.58 $ 0.52 $ 0.00