- Recorded net income of $1.28 million;
- Earned $0.15 per diluted common share;
- Capital levels remain very strong: Total Risk Based Capital of 16.65%; Tier 1 Leverage Capital Ratio of 11.26%; Tangible Capital to Tangible Assets Ratio of 11.14%;
- Loan originations increased 39% over the prior quarter;
- Non-interest income increased 31% to $2.44 million from $1.86 million for the quarter immediately prior;
- Net interest margin remained strong at 3.73%;
- OREO and other repossessed assets decreased 29% during quarter;
- The provision for loan losses decreased to $650,000 compared to $1.76 million for preceding quarter and $900,000 for comparable quarter one year ago;
- Net charge-offs were $624,000 compared to $1.60 million for preceding quarter and $415,000 for comparable quarter one year ago; and
- Book value per common share increased to $10.12, and tangible book value per common share was $9.26 at quarter end.
Timberland Bancorp Earns $1.28 Million In Fiscal First Quarter 2012
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