Timberland Bancorp profit rises to $2.38M

The parent company of Timberland Bank reported a higher fiscal second-quarter profit.

Hoquiam-based Timberland Bancorp earned a profit of $2.38 million in the quarter, or 34 cents a share, compared to a profit of $1.45 million, or 21 cents a share in the same period a year ago.

The company also announced that it will pay a cash dividend of eight cents.

“With steady balance sheet growth and significant and ongoing improvements in asset quality, we are continuing to produce and retain earnings while paying appropriate dividends to increase value for our shareholders,” President and Chief Executive Michael Sand said in a statement.

This story was originally published April 30, 2016 at 12:07 PM with the headline "Timberland Bancorp profit rises to $2.38M."