Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
−Removed: 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.
+Added: The Company's common stock is traded on the Nasdaq Global Market under the symbol “TSBK.” As of December 4, 2023, there were approximately 400 shareholders of record of the Company's common stock.
Our cash dividend payout policy is reviewed regularly by management and the Board of Directors.
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Stock Repurchases
−Removed: The Company is subject to certain restrictions on its ability to repurchase its common stock.
−Removed: 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.
−Removed: 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.
−Removed: The Company has had various stock repurchase programs since January 1998.
−Removed: On February 24, 2021, the Company announced a plan to repurchase 415,970 shares of the Company's common stock.
−Removed: This marked the Company's 18th stock repurchase plan.
−Removed: As of September 30, 2022, the Company had repurchased 186,925 shares under this plan at an average price of $27.03 per share.
−Removed: 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, 2023:
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Total 30,566 $ 28.74 30,566 374,142
+Added: (1) On July 25, 2023, the Company announced a new stock repurchase program to purchase 404,708 shares of the Company's common stock.
+Added: This marked the Company's 19th stock repurchase plan.
+Added: Cumulatively, since January 1998, the Company has repurchased 8,366,987 shares of its common stock at an average price of $9.95 per share.
+Added: The new stock repurchase program replaced the Company's existing repurchase plan which had 74,212 shares available to be repurchased prior to termination.
+Added: The new repurchase program does not have a set expiration date and will expire upon repurchase of the full amount of authorized shares.
+Added: Shares may be repurchased from time to time in the open market or in privately negotiated transactions based upon market conditions and available liquidity.
+Added: The Company is subject to certain restrictions on its ability to repurchase it common stock.
+Added: 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.
+Added: 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.
+Added: Equity Compensation Plan Information.
+Added: The equity compensation plan information presented under subparagraph (d) in Part III, Item 12 of this report is incorporated herein by reference.
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.
−Removed: 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.
+Added: 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, 2018.
Index 9/30/2018 9/30/2019 9/30/2020 9/30/2021 9/30/2022 9/30/2023
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.