Timberland Bank is headquartered in Hoquiam and is the 12th largest bank in the state of Washington. It is also the 624th largest bank in the nation. It was established in 1915 and as of June of 2020, it had grown to 287 employees at 24 locations. Timberland Bank has an A+ health rating.
We were renting a house out in Ocean Shores Washington and were looking to buy a house in the same town. The sign on Timberland Bank in town said the best place to get a loan. We went in and asked. Doug the branch manger and loan offcer was the best. Atthough the house was a HUD home and he hadn't done a lot of them, he was fantastic. This man walked us through it and helped us every step of the the way. He found us the best intrest rate he could and changed it before the deal was done. A very kind and profesional man, he took the time to explain the whole thing, Even when HUD threw us some curve balls that made no sense to any one in the real world, he powered through them and made us feel that we were working out it together. The guy was great!! He went above and beyond the call of duty. If you want to buy a house here I highly reccommend a man named Doug at Timberland Bank.
I too have had wonderful personal service, however, there is one significant disadvantage that I have experienced. Online banking limits transfers (from my checking account) to $500 per day. This makes Timberland unsuitable as one's primary bank, unless you are willing to run around with physical checks drawn on Timberland to deposit elsewhere. Given that Timberland's deposit rates are pretty low, typical of a brick and mortar bank, it makes sense to move any excess funds to online banks that pay top rates. The transfer limit hinders such. I haven't tried removing funds by initiating the electronic transfer from the other (CD issuing) institution.
|FDIC Certificate #||28453|
|Return on Assets - YTD||1.67%|
|Return on Equity - YTD||13.01%|
|Annual Interest Income||$27.8MM|
|Assets and Liabilities|
|Assets||Q2 2020vs Q2 2019||$1.52B$1.24B|
|Loans||Q2 2020vs Q2 2019||$1.02B$877.3MM|
|Deposits||Q2 2020vs Q2 2019||$1.32B$1.07B|
|Equity Capital||Q2 2020vs Q2 2019||$179.7MM$163.4MM|
|Loan Loss Allowance||Q2 2020vs Q2 2019||$12.9MM$9.6MM|
|Unbacked Noncurrent Loans||Q2 2020vs Q2 2019||$3.0MM$3.4MM|
|Real Estate Owned||Q2 2020vs Q2 2019||$1.5MM$1.7MM|
Sorry, we do not have rate data for Timberland Bank.