8-K filed January 24, 2022, 6:59 PM ET ticker TSBK CIK 0001046050

earnings confidence high sentiment positive materiality 0.75

Timberland Bancorp Q1 fiscal 2022 net income $5.49M ($0.65 EPS); CEO succession, dividend up 5%

TIMBERLAND BANCORP INC

2022-Q1 EPS reported $0.65

Net income $5.49M, EPS $0.65, down from $0.71 prior quarter and $0.87 year ago.
Net loans (ex-PPP) up 5% during quarter; total deposits up 2% to $1.61B.
Board increases quarterly cash dividend to $0.22/share from $0.21 (5% increase).
CEO Michael Sand to retire Jan 2023; Dean Brydon promoted to President, will become CEO.
CFO transition: Marci Basich promoted to CFO in Jan 2023; Jonathan Fischer appointed Corporate Secretary.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Dean Brydon

President

TSBK · TIMBERLAND BANCORP INC

Effective: 2022-01-24
Filed: January 24, 2022, 6:59 PM ET

Executive Vice President and Chief Financial Officer Dean Brydon will be promoted to the position of President for both the Company and the Bank.

Appointed

Marci Basich

Chief Financial Officer

TSBK · TIMBERLAND BANCORP INC

Filed: January 24, 2022, 6:59 PM ET

Marci Basich, age 53, who currently holds the position of Treasurer, will be promoted to Chief Financial Officer of the Company and the Bank in January 2023.

Appointed

Jonathan Fischer

Corporate Secretary

TSBK · TIMBERLAND BANCORP INC

Effective: 2022-01-25
Filed: January 24, 2022, 6:59 PM ET

Mr. Fischer will be appointed as the Corporate Secretary of the Company and the Bank on January 25, 2022 to replace Mr. Brydon who currently serves in these positions.

Departed

Michael Sand

President and Chief Executive Officer

TSBK · TIMBERLAND BANCORP INC

Effective: 2023-01-24
Filed: January 24, 2022, 6:59 PM ET

Michael Sand will begin preparing for his transition into retirement from his position as President and Chief Executive Officer of both the Company and the Bank.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Dean Brydon changed role as President at TIMBERLAND BANCORP INC.

Action: promoted
Role: President

Exact text from the filing

Executive Vice President and Chief Financial Officer Dean Brydon will be promoted to the position of President for both the Company and the Bank.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Marci Basich was appointed as Chief Financial Officer at TIMBERLAND BANCORP INC.

Action: promoted
Role: Chief Financial Officer

Exact text from the filing

Marci Basich, age 53, who currently holds the position of Treasurer, will be promoted to Chief Financial Officer of the Company and the Bank in January 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Jonathan Fischer was appointed as Corporate Secretary at TIMBERLAND BANCORP INC.

Action: appointed
Role: Corporate Secretary

Exact text from the filing

Mr. Fischer will be appointed as the Corporate Secretary of the Company and the Bank on January 25, 2022 to replace Mr. Brydon who currently serves in these positions.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael Sand departed as President and Chief Executive Officer at TIMBERLAND BANCORP INC.

Action: retire
Role: President and Chief Executive Officer

Exact text from the filing

Michael Sand will begin preparing for his transition into retirement from his position as President and Chief Executive Officer of both the Company and the Bank.

View on SEC.gov

TIMBERLAND BANCORP INC filing history →

Source: SEC EDGAR

accession 0000939057-22-000014

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