Timberland Bancorp Named to the 2021 KBW Bank Honor Roll and, in Addition, Announces the Receipt of the 2020 Raymond James Bankers Cup Award

HOQUIAM, Wash., April 27, 2021 (GLOBE NEWSWIRE) -- Timberland Bancorp, Inc. (NASDAQ: TSBK) (“Timberland” or “the Company”) today announced that Timberland has been recognized by Keefe Bruyette & Woods (“KBW”) by its inclusion in KBW’s 2021 Bank Honor Roll. To be eligible for this award, a bank must have assets of more than $500 million and must have reported increases in annual earnings per share for ten consecutive years. Timberland was one of three new members included in the 2021 KBW Bank Honor Roll. Only 16 banking institutions nationally qualified for this award.        

Timberland also announced that it received the 2020 Raymond James Community Bankers Cup award. The award recognizes the top 10% of a select group of community banks chosen by Raymond James based on various profitability, operational efficiency, and balance sheet metrics. This award marks the fourth consecutive year Timberland has earned this recognition. The pool of banks considered for recognition includes all exchange-traded domestic banks, excluding mutual holding companies, with assets between $500 million and $10 billion as of December 31, 2020.

“We are honored to have been added to the KBW Bank Honor Roll this year,” said Michael Sand, President and CEO. “Being recognized by KBW as a new member of this prestigious group of community banks is a great affirmation of our extraordinary staff and their commitment to our customers and to the communities we serve. KBW determined that just 4% of all banks screened, qualified for inclusion in the KBW Bank Honor Roll for 2021.

“We are also delighted to have received the Raymond James Bankers Cup Award for 2020,” said Sand. “Our inclusion, which was just announced this month, recognizes our performance in the midst of a very challenging national economy. We’re pleased to be ranked among the top-performing community banks in the country for the fourth consecutive year.”

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 24 branches (including its main office in Hoquiam).