Timberland Bancorp delivered a strong QQ1 2026, characterized by sustained profitability and a solid asset base. Revenue for the quarter reached $29.95 million, up 11.24% year-over-year and 8.77% quarter-over-quarter, while gross profit was $21.74 million for a gross margin of approximately 72.6%. Operating income stood at $10.32 million, with an EBITDA of $10.32 million and an implied EBITDA margin near 34.4%. Net income was $8.22 million, yielding a net income margin of roughly 27.4% and EPS of $1.04 for the quarter (diluted). Year-over-year improvements in profitability were broad-based, with net income up about 38.7% YoY and EPS up about 40.5% YoY, and QoQ gains of 21.6% in net income and 22.4% in EPS.
From a balance sheet perspective, Timberland held total assets of $2.01 billion, with cash and short-term investments totaling roughly $156.4 million and cash and cash equivalents of about $23.2 million. Net receivables came in at approximately $1.47 billion, which is typical for a regional bank where loans are the principal asset. Long-term debt stood at $26.0 million, and stockholders’ equity was about $268.4 million, supporting a solid capital base. The company paid cash dividends of about $2.21 million and repurchased about $1.0 million of common stock during the period, contributing to modest cash outflows from financing. Net cash provided by financing activities was negative approximately $14.8 million, while the period showed a positive net change in cash of about $3.44 million.
Overall, QQ1 2026 signals a disciplined profitability profile and a stable liquidity position, with management likely emphasizing continued loan growth and balance sheet resilience in a regional Washington market. Absent explicit forward guidance in the data, the catalysts to watch include net interest margin dynamics, credit quality trends in the loan book, and deposit mix evolution as competition and rates evolve.