TSBK is in relatively good shape, close to WFSL and quite healthier than FTBK in my personal opinion. I have been analyzing Timberland's financial statements this year and have bought the stock. In general, the management and Board have kept fairly tight reins on the business, not stretching too far geographically (except for Richland) and into Real estate construction concentrations. This is reflected in their relatively low NPA (nonperforming assets)ratio of 4.9% and construction & land R/E loans of ~24%. Their loan losss reserve of 2.23% provides coverage of nearly 50% loss on their NPAs. Meanwhile, their construction & land loans have dropped 30% in one year and their tangible book value has remained near $10 per share as they have maintained profitability. Like WFSL, they monitor their capital, earnings and liquidity closely. Although they trimmed the dividend to $0.24 per share, it is sustainable and pays a 6% yield on today's stock price. Remember, they would be unable to pay a dividend if the bank regulators were not comfortable with their capital ratios, liquidity and asset quality! So, IMHO, TSBK's stock is overly suffering from the general woes of the banking industry. I suspect that the bank is a survivor and undervalued. In fact, a larger bank could buy TSBK at a large premium to today's stock price and ironically improve its capital, NPA and liquidity ratios by doing so. I am accumulating the stock, hoping for a double within a year. A DCF earnings analysis yields an intrinsic value today of ~$8 for TSBK's stock today. Do your own homework. If the loan portfolio is progressing as their last earnings report implies, this stock may be an excellent opportunity.