TIMBERLAND BANCORP INC 10-K

Item 2. Properties At September 30, 2022, the Bank operated 23 full service facilities. The following table sets forth certain information regarding the Bank’s offices, all of which are owned, except for the Tacoma office and the Lacey office at 4530 Lacey Blvd SE, which are leased. Location Year Opened Approximate Square Footage Deposits at September 30, 2022 (In thousands) Main Office: 624 Simpson Avenue Hoquiam, Washington 98550 1966 7,700 $ 92,777 Branch Offices: 300 N. Boone Street Aberdeen, Washington 98520 1974 3,400 53,780 . 201Main Street South Montesano, Washington 98563 2004 3,200 55,876 361 Damon Road Ocean Shores, Washington 98569 1977 2,100 52,177 2418 Meridian Avenue East Edgewood, Washington 98371 1980 2,400 79,351 202 Auburn Way South Auburn, Washington 98002 1994 4,200 43,449 12814 Meridian Avenue East (South Hill) Puyallup, Washington 98373 1996 4,200 55,608 (table continued on the following page) 47 1201 Marvin Road, N.E. Lacey, Washington 98516 1997 4,400 40,265 101 Yelm Avenue W. Yelm, Washington 98597 1999 3,400 48,862 20464 Viking Way NW Poulsbo, Washington 98370 1999 1,800 37,427 2419 224 th Street E. Spanaway, Washington 98387 1999 3,900 70,894 801 Trosper Road SW Tumwater, Washington 98512 2001 3,300 60,134 7805 South Hosmer Street Tacoma, Washington 98408 2001 5,000 139,732 2401 Bucklin Hill Road Silverdale, Washington 98383 2003 4,000 60,949 423 Washington Street SE Olympia, Washington 98501 2003 3,000 79,854 3105 Judson Street Gig Harbor, Washington 98335 2004 2,700 55,301 117 N. Broadway Aberdeen, Washington 98520 2004 3,700 85,276 313 West Waldrip Street Elma, Washington 98541 2004 5,900 87,912 101 2 nd Street Toledo, Washington 98591 2004 1,800 58,921 209 NE 1 st Street Winlock, Washington 98586 2004 3,400 33,573 714 W. Main Street Chehalis, Washington 98532 2009 4,600 63,164 2850 Harrison Ave NW Olympia, Washington 98502 2018 7,755 106,244 4530 Lacey Blvd SE Lacey, Washington 98503 2018 3,700 170,650 Loan Center/Data Center: 120 Lincoln Street Hoquiam, Washington 98550 2003 6,000 N/A Administrative Offices: 305 8th Street Hoquiam, Washington 98550 2004 4,100 N/A Management believes that all facilities are appropriately insured and are adequately equipped for carrying on the business of the Bank. At September 30, 2022, the Bank operated 24 proprietary automated teller machines ("ATMs") that are part of a nationwide cash exchange network. Leases The Company adopted Accounting Standards Codification ("ASC") 842 ("ASC 842") on October 1, 2019 and began recording operating lease liabilities and operating lease right-of-use ("ROU") assets in the consolidated balance sheets. The Company has operating leases for two retail bank branch offices. The ROU assets totaled $2.89 million at October 1, 2019. The Company's leases have remaining lease terms of four to nine years, some of which include options to extend the leases for up to five years. For additional information regarding operating lease liabilities and operating lease ROU assets, see Note 9 of the Notes to the Consolidated Financial Statements included in Item 8 of this Annual Report on Form 10-K. 48