Timberland Bancorp Hires Ed Foster As Chief Credit Officer; Announces Promotions Of Drugge, Norawong, And Pifer

Timberland Bancorp, Inc. (NASDAQ:TSBK) (“Timberland” or “the Company”) today announced the hiring of Ed Foster as Chief Credit Officer, who is replacing Michael Scott following his retirement. In addition, Bob Drugge has been promoted to Executive Vice President of Community and Commercial Lending, John Norawong is now Chief Operating Officer and Richard Pifer has been promoted to Regional Manager of Community Lending.

“We welcome Ed to our senior management team and look forward to working with him to expand our lending operations,” said Michael R. Sand, President and CEO. “His many years of experience managing community bank loan departments, as well as his regulatory expertise, will enhance our management team. In addition, Bob, John and Richard have long tenures with Timberland and are exceptionally capable leaders.”

Most recently, Ed Foster served as an examiner with the Federal Deposit Insurance Corporation (FDIC). Foster has spent the majority of his career in banking beginning in the proof department and progressing to chief credit administrator. He has worked in all areas of credit management during his banking career. A graduate of Western International University, Foster earned his Bachelor of Science degree in Management and his Master’s in Business Administration in Finance. He is also a graduate of the Pacific Coast Banking School at University of Washington.

Bob Drugge has been promoted to lead the Community and Commercial Lending division of the bank. Drugge joined Timberland in 2006 and has more than 37 years in banking. Drugge earned his Bachelor’s degree in Business Administration from the University of Washington, majoring in accounting. He is also a graduate of the Pacific Coast Banking School. Born and raised in Hoquiam, Washington, Drugge currently serves on the Franciscan Foundation finance committee and has served on the boards of City of Puyallup Parks and Recreation, Comprehensive Mental Health, Red Cross, World Trade Center, Puyallup Cal Ripken Baseball, YMCA and many other community organizations.

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