Welcome to our dedicated page for First Savings Financial Group news (Ticker: FSFG), a resource for investors and traders seeking the latest updates and insights on First Savings Financial Group stock.
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 reported a net income of $4.3 million ($1.80 per diluted share) for Q2 2021, down from $15.4 million ($6.51 per diluted share) in Q2 2020. Total assets decreased by $6 million, while common stockholders' equity rose by $20.5 million, totaling $177.7 million. Net interest income increased by 16.8% to $14.2 million, bolstered by a rise in average interest-earning assets. However, noninterest income fell by $28.2 million due to decreased mortgage banking income. The bank continues to maintain adequate reserves for potential loan losses amid ongoing COVID-19 impacts.
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.
First Savings Financial Group, Inc. (NASDAQ: FSFG) reported a net income of $10.5 million or $4.39 per diluted share for Q1 2021, a significant recovery from a net loss of $627,000 in Q1 2020. Key drivers included a 37.2% rise in net interest income to $14.8 million, aided by growth in interest-earning assets. Noninterest income surged by $27.8 million, primarily from mortgage banking and SBA loan sales. Although total assets decreased slightly, stockholders’ equity rose by $15.7 million. The company remains well-capitalized, navigating COVID-19 challenges effectively.
First Savings Financial Group (NASDAQ: FSFG) announces the appointment of Brian Simon as Senior Vice President, Mortgage Banking Director, effective March 1, 2021. Simon brings extensive experience from previous leadership roles at major mortgage firms including Caliber Home Loans and New Penn Financial. He has also served on advisory boards for Fannie Mae and Freddie Mac. His expertise is expected to enhance the strategic execution of the Bank’s mortgage operations, which operates fifteen offices across Indiana.
First Savings Financial Group (NASDAQ: FSFG) announced its participation in the Inaugural Emerging Growth Virtual Conference, taking place on March 17-18, 2021. Key executives, including Larry W. Myers, President and CEO, and Tony A. Schoen, CFO, will present alongside industry leaders in banking, healthcare, technology, and industrial sectors. This event will feature numerous presentations, roundtable discussions, and live Q&As. Interested attendees can register through M-Vest to access exclusive content and updates.
First Savings Financial Group, Inc. (NASDAQ: FSFG) announced a quarterly cash dividend of $0.18 per common share, payable on or about March 31, 2021. This dividend will benefit stockholders of record as of the close of business on March 17, 2021. The company operates fifteen bank branches across several Indiana communities, providing access to accounts via online banking services.
First Savings Financial Group (NASDAQ: FSFG) reported a net income of $9.9 million or $4.16 per diluted share for the quarter ending December 31, 2020, a 189% increase from the previous year. Key highlights include strong earnings, asset and deposit growth, and the acquisition of Q2 Business Capital, LLC, enhancing SBA loan services. Total assets rose to $1.87 billion, with net loans increasing by $24.6 million. The bank's commitment to assist customers during the COVID-19 pandemic included loan forbearance agreements and participation in the PPP.
First Savings Financial Group, Inc. (NASDAQ: FSFG) has announced a quarterly cash dividend of $0.17 per common share, payable on or about December 31, 2020, to stockholders of record as of December 17, 2020. This reflects the company's commitment to returning value to its shareholders. Additionally, the company's annual meeting of stockholders is scheduled for February 16, 2021. First Savings Bank operates 15 offices across various Indiana communities, offering online banking services accessible via its website.
First Savings Financial Group (NASDAQ: FSFG) reported a substantial net income increase to $33.4 million ($14.04/share) for the year ending September 30, 2020, up 106% from $16.2 million ($6.82/share) in 2019. The company cited record earnings and asset growth despite challenges posed by COVID-19. Total assets rose by $542 million to $1.76 billion, driven by strong loan growth, especially in commercial and SBA portfolios. However, nonperforming loans increased to $13.6 million, and the company recognized a higher loan loss provision of $8 million amid economic uncertainties.
First Savings Financial Group, Inc. (NASDAQ: FSFG) announced a quarterly cash dividend of $0.17 per common share, payable on September 30, 2020. Stockholders of record as of September 16, 2020 will receive this dividend. The Bank serves various communities across Indiana with fifteen offices and provides access to banking services through its website, facilitating online banking and electronic bill payments.
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