Timberland Bancorp Q1 net income $5.49M ($0.65 EPS); raises dividend to $0.22

TIMBERLAND BANCORP INC

2022-Q1 EPS reported $0.65

Net income $5.49M ($0.65 diluted EPS) vs $6.02M ($0.71) prior quarter and $7.29M ($0.87) year ago.
Quarterly cash dividend increased $0.01 to $0.22 per share; payable Feb 25 to holders of record Feb 11.
Loans (ex-PPP) grew 5% ($45.1M) during quarter; PPP loans declined to $21.4M from $40.9M.
CEO succession plan: Dean Brydon promoted to President, to assume CEO role in Jan 2023.
Net interest margin 2.92%; non-performing assets ratio 0.17%; no loan loss provision.

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