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Summary of Significant Accounting Policies
3 Months Ended
Dec. 31, 2011
Summary of Significant Accounting Policies  
Summary of Significant Accounting Policies

(1)  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

(a)  Basis of Presentation:  The accompanying unaudited condensed consolidated

financial statements for Timberland Bancorp, Inc. ("Company") were prepared in

accordance with accounting principles generally accepted in the United States of

America ("GAAP") for interim financial information and with instructions for Form 10-Q

and, therefore, do not include all disclosures necessary for a complete presentation

of financial condition, results of operations, and cash flows in conformity with GAAP.

However, all adjustments which are in the opinion of management, necessary for a fair

presentation of the interim condensed consolidated financial statements have been

included.  All such adjustments are of a normal recurring nature. The unaudited

condensed consolidated financial statements should be read in conjunction with the

audited consolidated financial statements included in the Company's Annual Report on

Form 10-K for the year ended September 30, 2011 ("2011 Form 10-K").  The unaudited

condensed consolidated results of operations for the three months ended December 31,

2011 are not necessarily indicative of the results that may be expected for the entire

fiscal year.

 

(b)  Principles of Consolidation:  The unaudited condensed consolidated financial

statements include the accounts of the Company and its wholly-owned subsidiary,

Timberland Bank ("Bank"), and the Bank's wholly-owned subsidiary, Timberland Service

Corp.   All significant inter-company balances have been eliminated in consolidation.

 

(c)  Operating Segment:  The Company has one reportable operating segment which is

defined as community banking in western Washington under the operating name,

"Timberland Bank."

 

(d)  The preparation of condensed consolidated financial statements in conformity with

GAAP requires management to make estimates and assumptions that affect reported

amounts of assets and liabilities and disclosure of contingent assets and liabilities

at the date of the condensed consolidated financial statements and the reported

amounts of revenue and expenses during the reporting period.  Actual results could

differ from those estimates.

 

(e)  Certain prior period amounts have been reclassified to conform to the

December 31, 2011 presentation with no change to net income or total

shareholders' equity previously reported.