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 reported a net income of $16.4 million or $2.30 per diluted share for the year ending September 30, 2022, down from $29.6 million or $4.12 per diluted share in 2021. Despite challenges, the core banking segment showed loan originations and portfolio growth. Net interest income rose 6.1% to $60.7 million. Noninterest income decreased significantly by $69.2 million, primarily from lower mortgage banking income. Total assets increased $336.3 million to $2.06 billion, but stockholder equity decreased by $27.8 million.
First Savings Financial Group, Inc. (NASDAQ: FSFG) has declared a quarterly cash dividend of $0.13 per common share, scheduled for payment on or about September 30, 2022. Stockholders of record as of the close of business on September 16, 2022 will be eligible for this dividend. The Company, headquartered in Jeffersonville, Indiana, operates fifteen branches in southern Indiana and has national lending programs including commercial real estate and SBA lending.
First Savings Financial Group, Inc. (NASDAQ: FSFG) reported a net income of $2.6 million for Q2 2022, down from $4.3 million in Q2 2021. Earnings per diluted share fell from $0.60 to $0.37. Despite an increase in net interest income to $15.9 million, core banking performance was overshadowed by underperformance in SBA lending. Noninterest income dropped significantly by $8.8 million, driven by lower mortgage banking and SBA loan sales income. The company repurchased 59,120 shares, reflecting a commitment to shareholder value amidst anticipated challenges and opportunities ahead.
First Savings Financial Group, Inc. (NASDAQ: FSFG) declared a quarterly cash dividend of $0.13 per common share, set to be paid on or about June 30, 2022. Stockholders recorded by the close of business on June 16, 2022 will be eligible. Headquartered in Jeffersonville, Indiana, the Bank operates fifteen branches in southern Indiana and offers national lending programs, earning recognition for its community-focused services. The Company emphasizes its vision to be the best community bank, reflecting its commitment to customer satisfaction.
First Savings Financial Group reported a net income of $7.0 million, or $0.98 per diluted share for Q1 2022, down from $10.5 million or $1.46 per diluted share in Q1 2021. The decline in net income is attributed to lower interest income, which fell $1.0 million, and a significant $18.9 million drop in noninterest income primarily from mortgage banking. Total assets increased $80.6 million to $1.80 billion, while net loans held for investment rose $50.9 million.
First Savings Financial Group, Inc. (NASDAQ: FSFG) has completed a private placement offering of $31 million in 4.50% Fixed-to-Floating Rate Subordinated Notes due 2032. The proceeds will fund organic growth, repay existing subordinated debt, and may be used for stock repurchases. The Notes mature on March 30, 2032, and initially carry a fixed interest rate of 4.50% until 2027, after which the rate will reset quarterly. This offering is expected to qualify as Tier 2 capital for the company.
First Savings Financial Group (NASDAQ: FSFG) has declared a quarterly cash dividend of $0.13 per common share. This dividend is set to be paid on or about March 31, 2022 to shareholders on record as of the close of business on March 17, 2022. The company, based in Jeffersonville, Indiana, operates fifteen branches and is recognized for its lending programs, including commercial real estate and SBA lending. Their operational success is fueled by a vision to be the best community bank.
First Savings Financial Group reported net income of $4.3 million, or $0.60 per diluted share, for Q4 2021, down from $9.9 million, or $1.39 per diluted share, in Q4 2020. Net interest income rose by 1.2% to $13.9 million, driven by a decrease in interest expenses, despite a decrease in interest income from a lower average balance of interest-earning assets. Noninterest income dropped significantly by $29.6 million due to lower mortgage banking income. Total assets grew by $43.2 million, and common stockholders' equity rose to $184.2 million, reflecting the company's stability amid challenges in the SBA lending segment.
First Savings Financial Group, Inc. (NASDAQ: FSFG) declared a quarterly cash dividend of $0.12 per common share, payable on or about December 31, 2021, to shareholders of record as of December 17, 2021. The company also announced its annual meeting of stockholders will occur on February 8, 2022. Headquartered in Jeffersonville, Indiana, First Savings Bank operates fifteen branches in southern Indiana and offers national lending programs. The organization aims to be the best community bank and is recognized for its leadership in lending programs.
First Savings Financial Group, Inc. (FSFG) reported a net income of $29.6 million for the fiscal year ending September 30, 2021, down from $33.4 million in 2020. Earnings per share decreased from $4.68 to $4.12. The company saw a 21.2% increase in net interest income, totaling $57.2 million. However, noninterest income fell $12.9 million, largely due to a drop in mortgage banking income. Total assets decreased by $44.1 million. Despite these challenges, the company remains optimistic about growth in core banking and SBA lending segments.
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