TIMBERLAND BANCORP INC 10-K

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities The Company's common stock is traded on the Nasdaq Global Market under the symbol “TSBK.” As of December 2, 2022, there were 8,240,087 shares of common stock issued and approximately 414 shareholders of record. Our cash dividend payout policy is reviewed regularly by management and the Board of Directors. Our Board of Directors has declared quarterly cash dividends on our common stock for 40 consecutive quarters. Any dividends declared and paid in the future would depend upon a number of factors, including capital requirements, our financial condition and results of operations, tax considerations, statutory and regulatory limitations, and general economic conditions. No assurances can be given that any dividends will be paid or that, if paid, will not be reduced or eliminated in future periods. Our future payment of dividends may depend, in part, upon receipt of dividends from the Bank, which are restricted by banking regulations. Stock Repurchases The Company is subject to certain restrictions on its ability to repurchase its common stock. The Company is required to give the Federal Reserve prior written notice of any purchase or redemption of its outstanding equity securities if the consideration for the purchase or redemption, when combined with the net consideration paid for all such purchases or redemptions during the preceding 12 months, is equal to 10% or more of its consolidated net worth. The Federal Reserve may disapprove a purchase or redemption if it determines that the proposal would constitute an unsafe or unsound practice or would violate any law, regulation, Federal Reserve order, or any condition imposed by, or written agreement with, the Federal Reserve. The Company has had various stock repurchase programs since January 1998. On February 24, 2021, the Company announced a plan to repurchase 415,970 shares of the Company's common stock. This marked the Company's 18th stock repurchase plan. As of September 30, 2022, the Company had repurchased 186,925 shares under this plan at an average price of $27.03 per share. Cumulatively, since January 1998, the Company has repurchased 8,181,588 shares at an average price of $9.56 per share. The following table sets forth the Company's repurchases of its outstanding Common Stock during the fourth quarter of the year ended September 30, 2022: Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans Maximum Number of Shares that May Yet Be Purchased Under the Plans July 1, 2022 - July 31, 2022 — $ — — 263,491 August 1, 2022 - August 31, 2022 9,906 26.52 9,906 253,585 September 1, 2022 - September 30, 2022 24,540 27.26 24,540 229,045 Total 34,446 $ 27.04 34,446 229,045 49 Five-Year Stock Performance Graph The following graph compares the cumulative total shareholder return on our common stock with the cumulative total return on the Nasdaq Composite Index and with the S&P 600 Thrifts & Mortgage Finance Index, peer group indices. Total return assumes the reinvestment of all dividends and that the value of the Company’s Common Stock and each index was $100 on September 30, 2017. Year Ended Index 9/30/2017 9/30/2018 9/30/2019 9/30/2020 9/30/2021 9/30/2022 Timberland Bancorp, Inc. $ 100.00 $ 101.63 $ 91.99 $ 62.68 $ 104.51 $ 103.28 NASDAQ Composite Index 100.00 125.17 125.82 177.36 231.03 170.38 S&P 600 Thrifts & Mortgage Finance Index 100.00 110.53 115.59 82.82 145.98 121.26 * Source: S&P Global Market Intelligence For additional information, see Part III, Item 12 of this Form 10-K for information regarding the Company's Equity Compensation Plans, which is incorporated into this Item 5 by reference. Item 6. Reserved