TIMBERLAND BANCORP INC

Ticker: TSBK CUSIP: 887098101 Class: Common Stock

Municipal Employees' Retirement System of Michigan's Holding History (CIK: 0001588873)

Note: Option positions (PUT/CALL) are excluded.

Q1 2017

Shares 29,500 Value ($000) $661 Avg Close $15.89 Range $14.94 - $17.08

Q4 2016

Shares 29,500 Value ($000) $609 Avg Close $13.50 Range $11.58 - $15.80

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2017	29,500	$661	$15.89	$14.94 - $17.08
Q4 2016	29,500	$609	$13.50	$11.58 - $15.80