SOURCE: Timberland Bancorp, Inc.

December 07, 2007 16:00 ET

Timberland Bank Weathers Storm

HOQUIAM, WA--(Marketwire - December 7, 2007) - Despite this week's hurricane force storm, Timberland Bank's (NASDAQ: TSBK) team continues to operate its banking offices and provide the financial services its customers depend on for their business and personal needs. Located on Western Washington's Pacific Coast, Timberland's headquarters weathered severe rain and wind gusts and has been operating on generator power for the past few days. Currently 19 of our branches have power and the remaining two branches are open on a limited basis until power is restored.

The Centralia loan production office was the most severely impacted with flooding and power outage. "Fortunately, Keith Macy, our branch manager and Assistant Vice President for the Centralia area, was able to move all of the documents, files and most of our equipment and furnishings in the office to a secure location before the flood waters rose," said Michael Sand, Timberland's President and CEO. "His initiative and ingenuity demonstrate the resourcefulness of our team members, who have overcome flooded roads and power outages to provide the services vital to our community. While we still have some minor interruptions in phone and email service, our branches continue to provide full service banking at 19 of our offices and basic banking services at the remaining two offices. Internet service at our headquarters was restored yesterday. We are pleased that our emergency preparedness systems functioned as expected."

To assist our customers, neighbors and colleagues, Timberland has launched a collection drive for non-perishable food items. "With all the recent weather issues, we've had many inquiries at our bank branches about what people can do to help," Sand noted. "So we have set up collection baskets at all 21 Timberland Bank branches in Western Washington to collect non-perishable food donations to assist with the storm relief effort. All donations will be passed along to local food banks to assist those in need. In addition, we are making our annual cash donation to our local food bank to further assist our neighbors who need help during this difficult time."

About Timberland Bancorp, Inc.

Timberland Bancorp, Inc. (NASDAQ: TSBK), the holding company for Timberland Bank, operates 21 branches in the state of Washington in Hoquiam, Aberdeen, Ocean Shores, Montesano, Elma, Olympia, Lacey, Tumwater, Yelm, Puyallup, Edgewood, Tacoma, Spanaway (Bethel Station), Gig Harbor, Poulsbo, Silverdale, Auburn, Winlock, and Toledo.


This report contains certain "forward-looking statements." The Company desires to take advantage of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and is including this statement for the express purpose of availing itself of the protection of such safe harbor with forward looking statements. These forward-looking statements may describe future plans or strategies and include the Company's expectations of future financial results. Forward-looking statements are subject to a number of risks and uncertainties that might cause actual results to differ materially from stated objectives. These risk factors include but are not limited to the effect of interest rate changes, competition in the financial services market for both deposits and loans as well as regional and general economic conditions. The words "believe," "expect," "anticipate," "estimate," "project," and similar expressions identify forward-looking statements. The Company's ability to predict results or the effect of future plans or strategies is inherently uncertain and undue reliance should not be placed on such statements.

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