FORM 3
        
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

DeBord Matthew J
2. Date of Event Requiring Statement (MM/DD/YYYY)
4/3/2023 

3. Issuer Name and Ticker or Trading Symbol

TIMBERLAND BANCORP INC [TSBK]
(Last)        (First)        (Middle)

624 SIMPSON AVENUE
4. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                          _____ 10% Owner
___X___ Officer (give title below)        _____ Other (specify below)
Chief Lending Officer/EVP /
(Street)

HOQUIAM, WA 98550      

(City)              (State)              (Zip)
5. If Amendment, Date Original Filed(MM/DD/YYYY)
 

6. Individual or Joint/Group Filing(Check Applicable Line)

_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock, $0.01 par value per share 600 D  
Common Stock, $0.01 par value per share 2069 I By KSOP (1)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(MM/DD/YYYY)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date ExercisableExpiration DateTitleAmount or Number of Shares
Stock Options (right to buy) (2)9/23/2018 9/23/2027 Common Stock, $0.01 par value per share 2000 $29.69 D  
Stock options (right to buy) (3)9/25/2019 9/25/2028 Common Stock, $0.01 par value per share 1600 $31.8 D  
Stock options (right to buy) (4)9/24/2020 9/24/2029 Common Stock, $0.01 par value per share 1400 $27.14 D  
Stock options (right to buy) (5)9/22/2021 9/22/2030 Common Stock, $0.01 par value per share 1200 $16.87 D  
Stock options (right to buy) (6)9/28/2022 9/28/2031 Common Stock, $0.01 par value per share 2000 $28.23 D  
Stock options (right to buy) (7)9/27/2023 9/27/2032 Common Stock, $0.01 par value per share 2000 $27.4 D  

Explanation of Responses:
(1) Represents shares held in the Timberland Bank Employee Stock Ownership and 40l(k) Plan ("KSOP").
(2) Stock options were granted on 9/23/2017. These options vested at 20% per annum.
(3) Stock options were granted on 9/25/2018. These options vest at 20% per annum.
(4) Stock options were granted on 9/24/2019. These options vest at 20% per annum.
(5) Stock options were granted on 9/22/2020. These options vest at 20% per annum.
(6) Stock options were granted on 9/28/2021. These options vest at 20% per annum.
(7) Stock options were granted on 9/27/2022. These options will vest at 20% per annum.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
DeBord Matthew J
624 SIMPSON AVENUE
HOQUIAM, WA 98550


Chief Lending Officer/EVP

Signatures
/s/Cheryl Parks, Power of Attorney for Matthew J. DeBord4/7/2023
**Signature of Reporting PersonDate


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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