TIMBERLAND BANCORP INC — Director's Dealing 2009

Jan 30, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TIMBERLAND BANCORP INC (TSBK)
CIK: 0001046050
Period of Report: 2009-01-29

Reporting Person: SAND MICHAEL R (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-01-29	Common Stock, $.01 par value per share	M	1343	$6	Acquired	103703	Direct
2009-01-29	Common Stock, $.01 par value per share	G	800	—	Disposed	103703	Direct
2009-01-29	Common Stock, $.01 par value per share	S	543	$6.5	Disposed	103160	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-01-29	Stock Options (right to buy)	$6	M	1343	Disposed	2009-01-29	Common Stock (1343)	Direct

Footnotes

F1: Includes indirect ownership of 31,804 shares held by pension plan, 1,778 shares held by IRA, 1,778 shares held by wife, and 2,500 shares held by children.

F2: Transfer to minor son for whose shares reporting person serves as custodian under the Uniform Gifts to Minors Act.

F3: Includes indirect ownership of 31,804 shares held by pension plan, 1,778 shares held by IRA, 1,778 shares held by wife, and 3,300 shares held by children.