Timberland Bank Mortgage Rates, Fees & Info

Hoquiam, WA

LEI: 254900MKY47WU65N1J56

Tax ID: 91-0260220

3.7 stars - out of 5 stars, based on 25 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


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Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Overview

    Timberland Bank is a smaller bank specializing in Home Purchase loans. Timberland Bank has a high proportion of conventional loans. Their top markets include Seattle, Olympia, Bremerton, Aberdeen, and Centralia among others. Timberland Bank has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Timberland Bank is typically a high fee lendor.


    Originations

    646

    Origination Dollar Volume (All Markets)

    $272,450,000

    Employee count

    290

    Relative Rate

    Timberland Bank's average 30 year fixed rate mortgage of loans were 3.16%.

    The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

    This yields a difference of 0.01%.

    Relative Fees

    Timberland Bank's average total fees for a 30 year fixed rate mortgage are $6,020.

    The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

    Top Markets

    Market Originations Total Value Average Loan Average Fees Average Rate
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 214 $99,260,000 $463,832 $8,400 4.10%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 81 $55,225,000 $681,790 $7,378 3.75%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 86 $36,700,000 $426,744 $7,511 4.16%
    Aberdeen, WA (FHA|USDA|VA) 119 $28,455,000 $239,118 $5,124 3.37%
    Centralia, WA (FHA|USDA|VA) 48 $15,850,000 $330,208 $6,923 3.89%
    Shelton, WA (FHA|USDA|VA) 37 $12,405,000 $335,270 $7,129 4.06%
    Outside of Metro Areas 14 $4,080,000 $291,429 $6,397 4.16%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 6 $3,830,000 $638,333 $12,355 3.38%
    LONGVIEW, WA (FHA|USDA|VA) 11 $3,735,000 $339,545 $7,878 3.86%
    Port Angeles, WA (FHA|USDA|VA) 7 $2,115,000 $302,143 $6,498 4.57%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 6 $2,080,000 $346,667 $10,386 3.88%
    BELLINGHAM, WA (FHA|USDA|VA) 2 $1,840,000 $920,000 $0 3.63%
    Ellensburg, WA (FHA|USDA|VA) 4 $1,840,000 $460,000 $8,027 3.44%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 2 $1,470,000 $735,000 $9,961 3.88%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $1,255,000 $1,255,000 $8,621 3.63%
    WENATCHEE, WA (FHA|USDA|VA) 2 $690,000 $345,000 $5,958 4.50%
    BEND, OR (FHA|USDA|VA) 1 $325,000 $325,000 $10,788 5.88%
    Hood River, OR (FHA|USDA|VA) 1 $315,000 $315,000 $5,580 3.63%
    SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $315,000 $315,000 $4,612 3.25%
    KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 1 $255,000 $255,000 $4,531 2.88%
    MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 1 $245,000 $245,000 $0 3.25%
    CORVALLIS, OR (FHA|USDA|VA) 1 $165,000 $165,000 $3,284 3.13%

    Timberland Bank's top markets include Seattle, Olympia, Bremerton, Aberdeen, and Centralia among others.

    Product Mix

    Loan Type Originations Total Value Average Loan Average Fees Average Rate
    Conventional 646 $272,450,000 $421,749 $7,291 3.90%

    For the 2021 period, Timberland Bank's most frequently originated loan type of loans were Conventional, with 646 originations.

    Loan Reason

    Loan Reason Originations Total Value Average Loan Average Fees Average Rate
    Home Purchase 308 $171,240,000 $555,974 $9,603 4.71%
    Refi 159 $52,575,000 $330,660 $4,824 3.12%
    Cash Out Refi 159 $43,595,000 $274,182 $5,882 2.99%
    Other 11 $2,145,000 $195,000 $5,119 4.55%
    Home Improvement 9 $2,895,000 $321,667 $6,455 5.03%

    For the 2021, Timberland Bank's most frequently cited loan purpose of loans were Home Purchase, with 308 originations. The 2nd most popular reason of loans were Refi, with 159 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 328 $111,050,000 $338,567 $6,020 3.16%
    30+ year 158 $67,480,000 $427,089 $10,909 5.81%
    15 Year 61 $14,325,000 $234,836 $4,141 2.87%
    10 Year 57 $61,785,000 $1,083,947 $2,893 3.93%
    20 Year 28 $6,200,000 $221,429 $5,079 3.45%
    Other 10 $8,940,000 $894,000 $16,166 4.67%
    5 Year 2 $850,000 $425,000 $0 5.88%
    1 Year 1 $1,455,000 $1,455,000 $18,080 4.50%
    3 Year 1 $365,000 $365,000 $0 4.50%

    For the 2021, Timberland Bank's most frequently cited loan length of loans were 30 Year, with 328 originations. The 2nd most popular length of loans were 30+ year, with 158 originations.

    Origination Fees

    Origination Fee Originations Total Value Average Loan
    $5k+ 229 $112,995,000 $493,428
    $1k-2k 95 $19,465,000 $204,895
    $2k-3k 90 $26,800,000 $297,778
    $3k-4k 90 $27,680,000 $307,556
    $<1k 46 $8,480,000 $184,348

    $6,020 of loans were Timberland Bank's average total fees, while their most frequently occuring range of origination fees were in the $5k+ bucket, with 229 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 224 $97,910,000 $437,098
    2.5-3% 164 $49,320,000 $300,732
    5-6% 156 $62,310,000 $399,423
    4-5% 55 $53,055,000 $964,636
    <2.5% 41 $9,015,000 $219,878
    6-7% 3 $345,000 $115,000
    Over 8% 2 $130,000 $65,000

    During 2021, Timberland Bank's average interest rate of loans were 3.16%, while their most frequently originated rate bucket of loans were 3-4%, with 224 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 292 $86,120,000 $294,932 $6,448 3.79%
    $400k-600k 130 $62,560,000 $481,231 $9,228 4.26%
    $100k-200k 121 $18,695,000 $154,504 $3,892 3.41%
    $600k-1MM 57 $42,115,000 $738,860 $13,851 4.42%
    $100,000 or less 25 $1,845,000 $73,800 $2,536 4.17%
    $1MM+ 21 $61,115,000 $2,910,238 $19,778 4.13%

    2021 saw Timberland Bank place emphasis on $200k-400k loans with 292 originations, totaling $86,120,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 163 $58,285,000 $357,577 $7,581 4.13%
    $150k-250k 121 $53,665,000 $443,512 $9,078 4.05%
    $50k-75k 99 $21,595,000 $218,131 $5,280 3.62%
    $75k-100k 88 $26,190,000 $297,614 $6,453 4.00%
    $250k+ 54 $34,490,000 $638,704 $12,615 3.88%
    $50k or less 46 $6,900,000 $150,000 $3,749 3.54%

    Timberland Bank lent most frequently to those with incomes in the $100k-150k range, with 163 originations. The second most popular income band? $150k-250k, with 121 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 147 $46,835,000 $318,605 $6,158 3.45%
    30-36% 119 $39,765,000 $334,160 $6,808 3.69%
    <20% 54 $17,900,000 $331,481 $7,014 3.39%
    44% 33 $12,195,000 $369,545 $9,364 4.63%
    41% 30 $11,140,000 $371,333 $9,081 4.43%
    43% 30 $11,670,000 $389,000 $9,184 4.75%
    42% 26 $10,810,000 $415,769 $9,142 4.48%
    38% 25 $10,665,000 $426,600 $7,737 4.22%
    40% 24 $8,910,000 $371,250 $7,669 4.32%
    39% 23 $9,455,000 $411,087 $8,081 4.30%
    37% 16 $6,310,000 $394,375 $7,702 3.80%
    36% 16 $5,400,000 $337,500 $6,113 3.41%
    45% 12 $4,840,000 $403,333 $7,804 3.31%
    46% 10 $2,780,000 $278,000 $6,163 4.45%
    47% 10 $3,300,000 $330,000 $6,960 4.49%
    48% 8 $2,340,000 $292,500 $6,319 3.41%
    50-60% 3 $595,000 $198,333 $10,307 5.83%
    49% 1 $215,000 $215,000 $8,284 3.13%
    >60% 1 $315,000 $315,000 $5,466 2.63%

    Timberland Bank lent most frequently to those with DTI ratios of 20-30%, with 147 originations. The next most common DTI ratio? 30-36%, with 119 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 507 $177,495,000 $350,089 $7,256 3.86%
    Not applicable 47 $56,105,000 $1,193,723 $0 4.14%
    Not provided 61 $29,705,000 $486,967 $8,016 4.15%
    Asian 11 $3,455,000 $314,091 $7,421 3.88%
    Black 10 $3,160,000 $316,000 $7,393 3.86%
    Filipino 3 $745,000 $248,333 $6,050 2.75%
    American Indian 4 $730,000 $182,500 $3,462 2.59%
    Native Hawaiian 1 $605,000 $605,000 $7,296 3.25%
    Japanese 1 $255,000 $255,000 $7,276 5.88%
    Other Pacific Islander 1 $195,000 $195,000 $6,957 5.88%

    Approval Rates

    Total approvals of all applications
    88.40%

    Timberland Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    75.08%

    Timberland Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    1274.0 1 $55,000 $55,000
    1284.0 1 $75,000 $75,000
    NA 644 $272,320,000 $422,857

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    646 $272,450,000 $421,749

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 104 $21,400,000 $205,769 $4,392 3.57%
    40-60% 200 $64,470,000 $322,350 $6,009 3.72%
    60-80% 264 $152,480,000 $577,576 $9,285 4.10%
    80-100% 65 $31,335,000 $482,077 $9,506 4.15%
    Under 20% 13 $2,765,000 $212,692 $2,195 3.85%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Timberland Bank 101 Second Street Toledo, WA 98591 Full Service B&M $59,655
    Timberland Bank 2418 Meridian Ave. E. Puyallup, WA 98371 Full Service B&M $72,139
    Timberland Bank 2419 224th Street Se P.O. Box 4940 Spanaway, WA 98387 Full Service B&M $64,588
    Timberland Bank 2850 Harrison Avenue Nw 10 Olympia, WA 98502 Full Service B&M $96,756
    Timberland Bank 300 North Boone St. P.O. Box 233 Aberdeen, WA 98520 Full Service B&M $47,477
    Timberland Bank 301 Trosper Road Sw Tumwater, WA 98512 Full Service B&M $56,507
    Timberland Bank 3105 Judson Street Gig Harbor, WA 98335 Full Service B&M $54,809
    Timberland Bank 313 Waldrip Street Elma, WA 98541 Full Service B&M $70,978
    Timberland Bank 361 Damon Rd. P.O. Box 1029 Ocean Shores, WA 98569 Full Service B&M $45,379
    Timberland Bank 423 Washington Street Southeast Olympia, WA 98501 Full Service B&M $79,462
    Timberland Bank 4530 Lacey Boulevard Se Lacey, WA 98503 Full Service B&M $149,486
    Timberland Bank 624 Simpson Avenue Hoquiam, WA 98550 Full Service B&M $87,265
    Timberland Bank 714 West Main Street Chehalis, WA 98532 Full Service B&M $58,195
    Timberland Bank 7805 So. Hosmer Tacoma, WA 98406 Full Service B&M $133,024
    Timberland Bank 101 Yelm Avenue W. (P.O. Box 2349) Yelm, WA 98597 Full Service B&M $49,607
    Timberland Bank 117 N Broadway Aberdeen, WA 98520 Full Service B&M $68,773
    Timberland Bank 1201 Marvin Road N.E. Lacey, WA 98509 Full Service B&M $39,780
    Timberland Bank 12814 Meridian E. (P.O. Box 73638) Puyallup, WA 98373 Full Service B&M $57,117
    Timberland Bank 1751 Circle Ln Se Lacey, WA 98503 Full Service B&M $19,983
    Timberland Bank 201 S Main Street South P.O. Box 289 Montesano, WA 98563 Full Service B&M $53,074
    Timberland Bank 202 Auburn Way South P.O. Box 1635 Auburn, WA 98002 Full Service B&M $43,809
    Timberland Bank 20464 Viking Avenue Poulsbo, WA 98370 Full Service B&M $32,217
    Timberland Bank 209 Northeast First Street Winlock, WA 98596 Full Service B&M $30,678
    Timberland Bank 2401 Nw Bucklin Hill Road Silverdale, WA 98383 Full Service B&M $52,121

    For 2021, Timberland Bank had 24 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $54,320
    Net interest income $51,503
    Total noninterest income $16,254
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $3,768
    Trading account gains and fees $0
    Additional Noninterest Income $12,486
    Pre-tax net operating income $32,539
    Securities gains (or losses, -) $-5
    Income before extraordinary items $25,957
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $25,957
    Minority interest net income $0
    Net income $25,957
    Sale, conversion, retirement of capital stock, net $164
    Net operating income $25,961

    Timberland Bank's gross interest income from loans was $54,320,000.
    Timberland Bank's net interest income from loans was $51,503,000.
    Timberland Bank's fee based income from loans was $3,768,000.
    Timberland Bank's net income from loans was $25,957,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,817
    Provision for credit losses $0
    Total noninterest expense $35,218
    Salaries and employee benefits $19,308
    Premises and equipment expense $3,914
    Additional noninterest expense $11,996
    Applicable income taxes $6,577
    Net charge-offs $-36
    Cash dividends $9,175

    Timberland Bank's interest expense for loans was $2,817,000.
    Timberland Bank's payroll and benefits expense were $19,308,000.
    Timberland Bank's property, plant and equipment expenses $3,914,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 1.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,606,819
    Deposits held in domestic offices $1,606,819
    Deposits by Individuals, partnerships, and corporations $1,497,918
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $108,874
    Deposits by Commercial banks and other depository institutions in U.S. $27
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $982,785
    Demand deposits $523,706
    Nontransaction accounts $624,034
    Money market deposit accounts (MMDAs) $222,457
    Other savings deposits (excluding MMDAs) $269,423
    Total time deposits $132,154
    Total time and savings deposits $1,083,113
    Noninterest-bearing deposits $523,706
    Interest-bearing deposits $1,083,113
    Retail deposits $1,584,833
    IRAs and Keogh plan accounts $32,136
    Brokered deposits $10,619
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,828,416
    Cash & Balances due from depository institutions $568,809
    Interest-bearing balances $548,270
    Total securities $171,598
    Federal funds sold & reverse repurchase $11,816
    Net loans and leases $997,707
    Loan and leases loss allowance $13,468
    Trading account assets $0
    Bank premises and fixed assets $22,108
    Other real estate owned $157
    Goodwill and other intangibles $19,840
    All other assets $36,381

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,828,416
    Total Liabilities $1,621,169
    Total deposits $1,606,819
    Interest-bearing deposits $1,083,113
    Deposits held in domestic offices $1,606,819
    % insured (estimated) $92
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $5,000
    Subordinated debt $0
    All other liabilities $9,350

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $997,707
    Loan and leases loss allowance $13,468
    Total loans and leases (domestic) $1,011,175
    All real estate loans $906,838
    Real estate loans in domestic offices $906,838
    Construction and development loans $157,931
    Residential 1-4 family construction $72,508
    Other construction, all land development and other land $85,423
    Loans secured by nonfarm nonresidential properties $497,350
    Nonfarm nonresidential secured by owner-occupied properties $196,431
    Commercial real estate & other non-farm, non-residential $300,919
    Multifamily residential real estate $84,180
    1-4 family residential loans $167,226
    Farmland loans $151
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $106,396
    To non-U.S. addressees $0
    Loans to individuals $2,463
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $175
    Other loans to individuals $2,288
    All other loans & leases $17
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $2,361
    Non 1-4 family restructured loans & leases $2,361
    Total loans and leases (foreign) $0

    Timberland Bank had $997,707,000 of loans outstanding in 2021. $906,838,000 of loans were in real estate loans. $157,931,000 of loans were in development loans. $84,180,000 of loans were in multifamily mortgage loans. $167,226,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $175,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 434 $137,220 $316,175
    Nonfarm, nonresidential loans - <$100k 43 $2,174 $50,558
    Nonfarm, nonresidential loans - $100-250k 138 $19,601 $142,036
    Nonfarm, nonresidential loans - $250k-1MM 253 $115,445 $456,304
    Commercial & Industrial, US addressed loans - <$1MM 776 $79,875 $102,932
    Commercial & Industrial, US addressed loans - <$100k 455 $14,231 $31,277
    Commercial & Industrial, US addressed loans - $100-250k 194 $23,443 $120,840
    Commercial & Industrial, US addressed loans - $250k-1MM 127 $42,201 $332,291
    Farmland loans - <$1MM 1 $151 $151,000
    Farmland loans - $100-250k 1 $151 $151,000