Bailout Bank Bio: Timberland Bancorp

May 14, 2009 | 2 min read | Print Article

Timberland Bancorp, Inc. was established for the purpose of becoming the holding company for Timberland Savings Bank, SSB (the Bank). The Bank is a community-oriented bank, which has traditionally offered a variety of savings products to its retail customers, while concentrating its lending activities on real estate mortgage loans. It was founded in 1915. Lending activities have been focused primarily on the origination of loans secured by real estate, including an emphasis on construction loans, one- to four-family residential loans, multi-family loans, commercial real estate loans and land loans. As of June 30, 2008, Timberland Bank operates 21 full service branches in six counties of western Washington plus one loan production office. The Seattle Times, Puget Sound Business Journal and Washington CEO magazine have each recognized Timberland Bancorp as a Top 100 Northwest company.

In late December the company announced it was participating in the Treasury’s Capital Purchase Program. Under the program, Timberland received $16.6 million in exchange for preferred stock and warrants.

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Bailout Bank Bio: Timberland Bancorp


Federal Equity Investment	$16.6 million
Total Revenue	$50.338 million
Net Income	$4.005 million
Number of Employees	254
Corporate Headquarters	Rosemont, Illinois
Business Sector	Bank
Officers and Directors	Sand, Michael, President, Chief Executive Officer, Director Hamre, Clarence, Chairman of the Board Other Officers and Directors
Corporate Website	https://www.timberlandbank.com
Executive Compensation	Timberland Bancorp