Timberland Bank Mortgage Rates, Fees & Info
Hoquiam, WALEI: 254900MKY47WU65N1J56
Tax ID: 91-0260220
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Mortgage Data
Bank Data
Review & Overview
Timberland Bank is a smaller bank specializing in Home Purchase loans. Timberland Bank has a high proportion of conventional loans. Their top markets by origination volume include: Seattle, Olympia, Bremerton, Aberdeen, and Centralia among others. We have data for 22 markets. (Some data included below & more in-depth data is available with an active subscription.)Timberland Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Timberland Bank is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 4/18/24 |
| 30 Year Conventional Refi | 6.26% | 4/18/24 |
| 30 Year Cash-out Refi | 6.49% | 4/18/24 |
| 30 Year FHA Purchase | 6.27% | 4/18/24 |
| 15 Year Conventional Purchase | 6.25% | 4/18/24 |
| 15 Year Conventional Refi | 6.25% | 4/18/24 |
| 15 Year Cash-out Refi | 6.25% | 4/18/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Timberland Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
646Origination Dollar Volume (All Markets)
$272,450,000Employee count
290Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| 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% |
Similar Lenders
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 646 | $272,450,000 | $421,749 | $7,291 | 3.90% |
For 2021, Timberland Bank's most frequently originated type of loan was Conventional, with 646 originations.
Loan Reason
For 2021, Timberland Bank's most frequently cited loan purpose was Home Purchase, with 308 originations. The 2nd most popular reason was Refi, with 159 originations.
Loan Duration/Length
For 2021, Timberland Bank's most frequently cited loan duration was 30 Year, with 328 originations. The 2nd most popular length was 30+ year, with 158 originations.
Origination Fees/Closing Costs
Timberland Bank's average total fees were $6,020, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 229 originations.
Interest Rates
During 2021, Timberland Bank's average interest rate for loans was 3.16%, while their most frequently originated rate bucket for loans was 3-4%, with 224 originations.
Loan Sizing
2021 saw Timberland Bank place emphasis on $200k-400k loans with 292 originations, totaling $86,120,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications89.87%
Timberland Bank has an average approval rate.
Pick Rate
Approvals leading to origination75.39%
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 |
LTV Distribution
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 | 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 |
| 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 |
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 |