Timberland Q2 net income $5.33M ($0.63 EPS) down YoY; loan growth 5.7% ex-PPP

TIMBERLAND BANCORP INC

2022-Q2 EPS reported $1.28

Net income $5.33M ($0.63 diluted EPS) vs $7.25M ($0.86) YoY; six-month EPS $1.28 vs $1.73.
Net interest margin 2.95% (up 3 bps QoQ, down 26 bps YoY); efficiency ratio 58.42%.
Net loans (ex-PPP) +5.7% QoQ (22.8% annualized); CRE +$26.1M, commercial business +$23.6M.
Non-performing assets ratio improved to 0.16%; no provision for loan losses; net charge-offs $35K.
Declared $0.22 quarterly dividend (payable May 27); repurchased 61,565 shares for $1.72M.

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