TIMBERLAND BANCORP INC — Director's Dealing 2008

Dec 5, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TIMBERLAND BANCORP INC (TSBK)
CIK: 0001046050
Period of Report: 2008-12-04

Reporting Person: ROBBEL RONALD A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-12-04	Common Stock, $.01 par value per share	A	1168	—	Acquired	8653	Direct

Footnotes

F1: Represents award of restricted stock under the Management Recognition and Development Plan ("MRDP"). The shares vest in equal installments over the five year period following award date.

F2: Includes indirect ownership of 6,500 shares heldby IRA; does not reflect beneficial ownership of stock options reportable on Table II.