TIMBERLAND BANCORP Business Summary

Timberland Bancorp, Inc. (TSBK) operates as the bank holding company for Timberland Bank, a community-oriented financial institution primarily serving Western Washington. The company generates revenue through net interest income (NII) derived from a diversified loan portfolio—including commercial real estate, one-to-four family residential, construction, and consumer loans—offset by interest paid on retail and business deposits. Non-interest income streams, such as mortgage banking fees, service charges, and ATM fees, provide secondary revenue diversification. Timberland’s business segments are concentrated in community banking services, leveraging a network of over 20 branches to capture low-cost core deposits. In the competitive landscape of the Pacific Northwest, Timberland competes directly with regional players like Washington Federal (WAFD), Heritage Financial (HFWA), and FS Bancorp (FSBW). It distinguishes itself through a conservative credit culture and a dominant market share in its core rural and suburban markets, positioning it as a stable, high-yield community bank relative to larger regional competitors. The leadership team is led by CEO Dean J. Brydon, a Certified Public Accountant who has been with the bank since 1994 and assumed the chief executive role in 2023. He is supported by President and COO Jonathan Arthur Fischer, an institutional veteran since 1997, and Executive Vice President and CFO Marci A. Basich, who oversees financial reporting and treasury operations. The executive suite also includes Breanne Antich as Chief Technology Officer and Kevin Sakamoto, who was appointed Chief Credit Officer in December 2025. The company, founded in 1915 in Hoquiam, Washington, maintains a stable governance structure overseen by Independent Chairperson Michael J. Stoney. Major institutional investors include BlackRock, Inc., Dimensional Fund Advisors, and Vanguard Group, reflecting strong market confidence in the bank’s disciplined capital management and long-term value creation.