Timberland Bancorp, Inc. (NASDAQ:TSBK) Files An 8-K Submission of Matters to a Vote of Security Holders

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Timberland Bancorp, Inc. (NASDAQ:TSBK) Files An 8-K Submission of Matters to a Vote of Security Holders

Timberland Bancorp, Inc. (NASDAQ:TSBK) Files An 8-K Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders.

Timberland Bancorp, Inc. (“Company”), the holding company for Timberland Bank, held its Annual Meeting of Shareholders on Tuesday, January 22, 2019 in Hoquiam, Washington. The results of the vote for the four items presented at the meeting were as follows:

1.

Election of Directors:

Shareholders elected the following nominees to the Board of Directors for a three-year term ending 2022 by the following vote:

For

Against

Broker Non-Votes

Number

of Votes

Percentage

Number

of Votes

Percentage

Number

of Votes

Percentage

Larry D. Goldberg

4,809,256

96.45

177,236

3.55

2,160,953

N/A

David A. Smith

4,792,627

96.11

193,865

3.89

2,160,953

N/A

Shareholders elected the following nominee to the Board of Directors for a one-year term ending 2020 by the following vote:

For

Against

Broker Non-Votes

Number

of Votes

Percentage

Number

of Votes

Percentage

Number

of Votes

Percentage

Daniel D. Yerrington

4,726,055

94.78

260,437

5.22

2,160,953

N/A

The following directors, who were not up for re-election at the Annual Meeting of Shareholders, will continue to serve as directors: Jon C. Parker, Michael R. Sand, Michael J. Stoney, Andrea M. Clinton, James A. Davis, and Kathy D. Leodler.

2.

Advisory (Non-Binding) Vote on Compensation of Named Executive Officers:

Shareholders approved an advisory (non-binding) vote on the compensation of the Company’s named executive officers as follows:

Number

of Votes

Percentage

For

4,839,476

97.05

Against

114,773

2.30

Abstain

32,243

0.65

Broker non-votes

2,160,953

N/A

3.

Advisory (Non-Binding) Vote on Advisory Vote on Executive Compensation. Shareholders approved an advisory (non-binding) vote on executive compensation every year, as follows:

Number

of Votes

Percentage

One Year

4,081,303

82.37

Two Years

178,764

3.61

Three Years

694,679

14.02

Broker non-votes

2,185,209

N/A

4.

Ratification of Appointment of Independent Auditor:

Shareholders ratified the appointment of Delap LLP as the Company’s independent auditor for the fiscal year ending September 30, 2019 by the following vote:

Number

of Votes

Percentage

For

7,123,103

99.66

Against

15,703

0.22

Abstain

8,639

0.12

About Timberland Bancorp, Inc. (NASDAQ:TSBK)

Timberland Bancorp, Inc. is the holding company for Timberland Savings Bank, SSB (the Bank). The Bank is a community-oriented bank, which offers a range of savings products to its retail customers while concentrating its lending activities on real estate mortgage loans and commercial business loans. The Bank offers personal banking solutions, business solutions, lending solutions and additional services. The Bank’s principal lending activity consists of the origination of loans secured by first mortgages on owner-occupied, one- to four-family residences, or by commercial real estate and loans for the construction of one- to four-family residences. The Bank offers consumer loans and commercial business loans. The Bank originates both fixed-rate loans and adjustable-rate loans. The Bank also offers adjustable-rate mortgage loans. It originates three types of residential construction loans: custom construction loans, owner/builder construction loans and speculative construction loans.