First Savings Financial Group, Inc. Announces Quarterly Cash Dividend

Rhea-AI Summary

First Savings Financial Group, Inc. (NASDAQ: FSFG) has declared a quarterly cash dividend of $0.36 per common share, marking a 100% increase from the previous quarter. This dividend will be payable on or about June 30, 2021 to shareholders on record as of June 16, 2021. According to CEO Larry W. Myers, this decision reflects the company's commitment to returning surplus capital to shareholders and normalizes the dividend payout ratio to around 25% of net income from the core banking segment. The company is also exploring growth and acquisition opportunities.

Positive

• Quarterly cash dividend increased by 100% to $0.36 per share.
• Dividend payout ratio normalized to approximately 25% of net income.
• Company exploring strategic growth opportunities, including mergers and acquisitions.

Negative

• None.

JEFFERSONVILLE, Ind., June 02, 2021 (GLOBE NEWSWIRE) -- First Savings Financial Group, Inc. (NASDAQ: FSFG) (the “Company”), the holding company for First Savings Bank (the “Bank”), today announced that its Board of Directors declared a quarterly cash dividend of $0.36 per common share, a 100% increase from the prior quarter’s amount. The dividend will be paid on or about June 30, 2021 to stockholders of record as of the close of business on June 16, 2021.

Commenting on the Company’s increased dividend, Larry W. Myers, President and CEO stated: “We are delighted to double the quarterly cash dividend amount, which normalizes the Company’s dividend payout ratio to approximately twenty five percent of net income attributable to the core banking segment, and return a portion of the Company’s surplus capital to our shareholders. The Company’s board of directors continues to routinely assess the Company’s capital position and discuss strategic initiatives to effectively deploy capital, which include organic growth, possible merger and acquisition opportunities, and potential repurchases of Company stock. We are pleased to be in the position to evaluate such opportunities and remain poised to execute when the market conditions are favorable.”

The Bank is an entrepreneurial community bank headquartered in Jeffersonville, Indiana, which is directly across the river from Louisville, Kentucky, and operates fifteen depository branches within southern Indiana. The Bank also has three national lending programs, including single-tenant net lease commercial real estate, SBA lending and residential mortgage banking, with offices located throughout the United States. First Savings is a recognized leader, both in its local communities and nationally for its lending programs. The employees of First Savings strive daily to achieve the organization’s vision, We Expect To Be The BEST community BANK, which fuels our success. The Company’s common shares trade on The NASDAQ Stock Market under the symbol “FSFG”.

Contact:

Tony A. Schoen
Chief Financial Officer
(812) 283-0724

FAQ

What is the new dividend amount for FSFG shareholders?

The new dividend amount for FSFG shareholders is $0.36 per common share.

When will the dividend be paid to FSFG shareholders?

The dividend will be paid on or about June 30, 2021.

What is the record date for the FSFG dividend?

The record date for the FSFG dividend is June 16, 2021.

What dividend payout ratio does FSFG have now?

FSFG's dividend payout ratio has been normalized to approximately 25% of net income.

Is FSFG considering any strategic initiatives?

Yes, FSFG is evaluating growth opportunities, potential mergers, and acquisitions.