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HOQUIAM, Wash., Jan. 21, 2013 (GLOBE NEWSWIRE) -- The Board of Directors of Timberland Bancorp, Inc. (Nasdaq:TSBK) ("Timberland" or "the Company") has declared a cash dividend of $0.03 per common share. The dividend will be paid on February 20, 2013 to shareholders of record on February 6, 2013.
"Our first fiscal quarter was highlighted by strong core revenues, a solid profit and a reduction in credit related costs," said Michael R. Sand, President and CEO. "Timberland remains well capitalized with total risk based capital of 16.92%, a Tier 1 leverage capital ratio of 11.86% and a tangible capital to assets ratio of 11.81%. After evaluating the Company's current capital position, anticipated capital needs and profitability, Timberland's Directors determined that the payment of a dividend was appropriate and warranted for the benefit of the Company's shareholders."
About Timberland Bancorp, Inc.
Timberland Bancorp, Inc., a Washington corporation, is the holding company for Timberland Bank ("Bank"). The Bank opened for business in 1915 and serves consumers and businesses across Grays Harbor, Thurston, Pierce, King, Kitsap and Lewis counties, Washington with a full range of lending and deposit services through its 22 branches (including its main office in Hoquiam).
CONTACT: Michael R. Sand,
President & CEO
Dean J. Brydon, CFO