Welcome to our dedicated page for First Savings news (Ticker: FSFG), a resource for investors and traders seeking the latest updates and insights on First Savings stock.
Overview
First Savings (symbol: FSFG) stands as a hallmark of regional banking with an enduring legacy spanning nearly eight decades. Founded in 1937, the company has continually evolved to meet the financial needs of its community, providing both consumer finance and commercial lending services with unwavering local decision-making. Listed on NASDAQ through its parent, First Savings Financial Group, Inc., the bank has established a reputation grounded in deep industry expertise and a commitment to personalized service.
Core Business Areas
At its core, First Savings embraces a full spectrum of financial services. Its offerings range from traditional banking and everyday financial transactions to more complex financial solutions such as wealth management and planning services. The bank also supports commercial enterprises through triple net financing and, via its subsidiary Q2 Business Capital, it extends specialized SBA lending. Each service is designed with a focus on meeting the unique needs of local customers and businesses alike.
Market Position and Competitive Landscape
First Savings maintains a strong regional presence with strategic locations across five southern Indiana counties. Its local footprint allows it to understand and cater to the specific financial nuances of the communities it serves. The company differentiates itself from larger institutions by emphasizing locally informed decision making, customer-centric service, and a deep understanding of regional market dynamics. This approach ensures that every financial decision is contextualized within the local economy, thereby fostering a more personalized banking experience.
Financial Services and Expertise
In the competitive world of financial services, First Savings distinguishes itself through its comprehensive menu of products. Its traditional banking services provide a reliable foundation for day-to-day transactions, while wealth management and planning services address long-term financial security for its clients. The bank's engagement in triple net financing and SBA lending reveals its commitment to supporting small and medium-sized enterprises, a critical engine for local economic growth. This broad service portfolio underlines the company’s expertise across diverse financial segments.
Community Engagement and Local Decision Making
Upholding its founding principle of customer first, First Savings continues to operate with a uniquely local approach. Decisions are made with meticulous attention to the needs and circumstances of its customers, reflecting a deep-rooted commitment to community relationships. This personal touch not only builds trust but also enhances the overall customer experience, distinguishing the bank from larger, less nimble competitors.
Industry Terminology and Strategic Insights
Utilizing industry-specific terminology, First Savings is recognized for its integrated approach within the financial sector. Key terms such as consumer finance, commercial lending, and wealth management encapsulate its multi-faceted business model. The bank’s operational framework leverages these core areas to create a balanced financial ecosystem, where both individual and business customers can find comprehensive financial solutions.
Institutional Strength and Operational Excellence
With nearly 80 years in operation, First Savings has built a robust framework of operational excellence that is reflected in its consistent service quality and community focus. The bank’s continued commitment to local decision making and personalized customer service not only reinforces its historical values but also ensures its long-standing relevance in a rapidly evolving financial landscape. Every decision taken and service offered is a testament to the bank's resolution to prioritize customer needs through expert-driven financial practices.
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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