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First Savings Financial Group, Inc. (NASDAQ: FSFG) is a regional financial services company headquartered in Clarksville, Indiana. Through its wholly owned subsidiary, First Savings Bank, FSFG provides a comprehensive range of banking and financial services tailored to meet the needs of both individual and commercial customers. With a history spanning nearly eight decades, the company has established itself as a trusted provider of community-focused banking solutions in Southern Indiana, operating 14 branch locations across five counties: Clark, Crawford, Floyd, Harrison, and Washington.
Core Business Model and Revenue Streams
FSFG’s business model is centered around traditional banking services, including consumer and commercial loans, deposit accounts, and treasury management. The company generates revenue primarily through interest income on loans, fees from banking services, and non-interest income derived from wealth management and SBA lending. Its focus on local decision-making allows FSFG to offer personalized financial solutions, fostering strong relationships with its customers and communities.
Specialized Services and Competitive Differentiators
In addition to its core banking offerings, FSFG provides specialized financial services that set it apart from competitors. Through its subsidiary, Q2 Business Capital, FSFG is a significant player in the Small Business Administration (SBA) lending space, helping businesses secure financing for growth and operations. The company also offers wealth management and financial planning services, catering to individuals and businesses seeking long-term financial strategies. This diversified portfolio of services enhances FSFG’s ability to serve a wide range of customer needs.
Market Position and Industry Context
Operating within the regional banking sector, FSFG competes with other community and regional banks, as well as larger national institutions and emerging fintech companies. Its emphasis on local decision-making, community engagement, and tailored customer service provides a competitive edge in its market. By maintaining a strong regional presence and offering a diverse suite of financial products, FSFG positions itself as a reliable and versatile financial partner for its customers.
Commitment to Community Banking
First Savings Bank’s long-standing commitment to its community is a cornerstone of its operations. The company prides itself on understanding the unique needs of its local markets and delivering solutions that align with those needs. Its regional focus not only supports customer retention but also reinforces its reputation as a trusted community bank.
Subsidiary and Organizational Structure
First Savings Bank operates as a wholly owned subsidiary of First Savings Financial Group, Inc., enabling the company to integrate its banking operations with specialized services like SBA lending through Q2 Business Capital. This organizational structure allows FSFG to leverage synergies across its business segments, enhancing operational efficiency and customer value.
In summary, First Savings Financial Group, Inc. is a well-established regional bank that combines traditional banking services with specialized offerings like SBA lending and wealth management. Its focus on community engagement, local decision-making, and a diversified service portfolio positions it as a key player in the regional banking sector.
First Savings Financial Group (NASDAQ: FSFG) has declared a quarterly cash dividend of $0.16 per common share, payable on March 31, 2025, to stockholders of record as of March 14, 2025.
The company operates through First Savings Bank, an entrepreneurial community bank with fifteen depository branches across Southern Indiana. The bank maintains two national lending programs focusing on single-tenant net lease commercial real estate and SBA lending, with offices primarily in the Midwest region.
First Savings Financial Group (NASDAQ: FSFG) reported strong financial results for Q1 fiscal 2024. Net income reached $6.2 million ($0.89 per diluted share), compared to $920,000 ($0.13 per diluted share) in Q1 2023. The core banking segment posted net income of $6.4 million ($0.91 per diluted share).
Key highlights include a 9.6% increase in net interest income to $15.5 million and improved net interest margin of 2.75%. The company completed a strategic bulk sale of $87.2 million in home equity lines of credit, resulting in a $2.5 million net gain. This sale aims to enhance noninterest income, moderate loan-to-deposit ratio, and generate capital for potential debt retirement and share repurchases.
Total assets decreased to $2.39 billion, with net loans declining by $79.3 million. Total deposits decreased by $48.1 million, including a $72.1 million reduction in brokered deposits.
First Savings Financial Group (NASDAQ: FSFG) has declared a quarterly cash dividend of $0.15 per common share, payable on December 31, 2024, to stockholders of record as of December 16, 2024. The company also announced its annual stockholders meeting will be held on February 11, 2025. First Savings Bank operates fifteen depository branches in Southern Indiana and maintains two national lending programs focused on single-tenant net lease commercial real estate and SBA lending, with offices primarily in the Midwest.
First Savings Financial Group (NASDAQ: FSFG) reported net income of $13.6 million, or $1.98 per diluted share, for fiscal year 2024, compared to $8.2 million, or $1.19 per diluted share, in 2023. The core banking segment's net income was $16.9 million. Net interest income decreased $3.5 million to $58.1 million, with tax equivalent net interest margin declining to 2.68% from 3.10%. Total assets increased $161.5 million to $2.45 billion, with net loans held for investment growing by $193.6 million. The company ceased national mortgage banking operations and implemented expense reduction strategies, resulting in decreased noninterest expenses of $23.2 million.
First Savings Financial Group, Inc. (NASDAQ: FSFG) has announced a quarterly cash dividend of $0.15 per common share. The dividend will be paid on or about September 30, 2024 to stockholders of record as of the close of business September 13, 2024. First Savings Bank, the Company's subsidiary, is an entrepreneurial community bank headquartered in Jeffersonville, Indiana, operating fifteen depository branches in Southern Indiana. The Bank also runs two national lending programs focused on single-tenant net lease commercial real estate and SBA lending, with offices primarily in the Midwest. Known for its leadership in local communities and national lending programs, First Savings Bank aims to be the best community bank.
First Savings Financial Group (NASDAQ: FSFG) reported financial results for Q3 fiscal year 2024.
Net income for Q3 2024 was $4.1 million or $0.60 per diluted share, up from $2.3 million or $0.34 per diluted share in Q3 2023. Excluding nonrecurring items, net income was $3.5 million or $0.52 per diluted share.
Core banking net income for Q3 2024 was $4.7 million or $0.69 per diluted share, up from $2.9 million or $0.43 per diluted share in Q3 2023. Excluding nonrecurring items, core banking net income was $4.2 million or $0.61 per diluted share.
Net interest income decreased 2.2% to $14.5 million. Noninterest income decreased by $4.0 million, and noninterest expense decreased by $6.5 million. The company recorded net charge-offs of $105,000.
For the nine months ended June 30, 2024, net income was $9.9 million or $1.45 per diluted share, an increase from $8.9 million or $1.29 per diluted share in the same period in 2023.
Total assets increased by $104.6 million to $2.39 billion. Total liabilities increased by $87.6 million, primarily due to increased FHLB borrowings and deposits.
First Savings Financial Group (FSFG) announced a quarterly cash dividend of $0.15 per common share, payable on or about June 28, 2024, to stockholders of record as of June 14, 2024. The company, headquartered in Jeffersonville, Indiana, operates fifteen branches in Southern Indiana and has two national lending programs. FSFG's common shares trade on NASDAQ under the symbol 'FSFG'.
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