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First Savings Financial Group, Inc. (FSFG) is a prominent financial institution headquartered in Clarksville, Indiana. With roots dating back to 1937, the company has grown and evolved significantly, now operating 14 locations across five southern Indiana counties: Clark, Crawford, Floyd, Harrison, and Washington.
Core Business: First Savings Financial Group, through its primary subsidiary First Savings Bank, offers a comprehensive array of consumer and commercial financial products. These include traditional banking services like savings and checking accounts, loans, and mortgages. The bank also provides wealth management and planning services, ensuring clients have access to expert advice for their financial futures.
In addition to conventional banking services, First Savings Financial Group has diversified its portfolio by offering triple net financing and SBA lending through its subsidiary, Q2 Business Capital. This focus on Small Business Administration loans highlights the company's commitment to supporting local businesses and fostering economic growth in its service areas.
Financial Condition and Achievements: The company maintains a strong financial position by balancing its deposit base with a diverse lending portfolio. This includes residential and commercial mortgages, construction loans, and consumer loans. By investing in mortgage-backed securities and other financial instruments, First Savings Financial Group ensures steady growth and financial stability.
Recent achievements include expanding their service offerings and continuing their dedication to customer service. Decisions are made locally, which allows the company to tailor its financial solutions to the specific needs of the community it serves.
Partnerships and Current Projects: First Savings Financial Group is continually on the lookout for strategic partnerships and innovative projects that can enhance its service offerings. The company's forward-thinking approach ensures that it stays ahead in a competitive market, providing top-notch services to its customers.
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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