Accessibility StatementSkip Navigation NEW YORK, Sept. 30, 2025 /PRNewswire/ -- Class Action Attorney Juan Monteverde with Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm in the 2024 ISS Securities Class Action Services Report. The firm is headquartered at the Empire State Building in New York City and is investigating First Savings Financial Group, Inc. (NASDAQ: FSFG) related to its sale to First Merchants C ...

First Merchants (NASDAQ:FRME) was downgraded at Raymond James & Associates following the financial holding company's announcement of First Savings Financial Group (NASDAQ:FSFG) acquisition. First Merchants said yesterday that it has entered into a definitive merger agreement to acquire FSFG in ...

Group 1 - Halper Sadeh LLC is investigating First Savings Financial Group, Inc. for potential violations related to its sale to First Merchants Corporation at a rate of 0.85 shares of First Merchants common stock for each share of First Savings common stock [1] - Aris Water Solutions, Inc. is being investigated for its sale to Western Midstream Partners, LP, which offers either 0.625 common units of Western for each Aris share or $25.00 per share in cash [2] - The firm may seek increased consideration for shareholders and additional disclosures regarding the proposed transactions [3] Group 2 - Shareholders are encouraged to contact Halper Sadeh LLC to discuss their legal rights and options at no charge [4] - Halper Sadeh LLC represents investors globally who have experienced securities fraud and corporate misconduct, recovering millions for defrauded investors [4]

Accessibility StatementSkip Navigation MILWAUKEE, Sept. 25, 2025 /PRNewswire/ -- The Ademi Firm is investigating First Savings (Nasdaq: FSFG) for possible breaches of fiduciary duty and other violations of law in its transaction with First Merchants. The transaction agreement unreasonably limits competing transactions for First Savings by imposing a significant penalty if First Savings accepts a competing bid. We are investigating the conduct of the First Savings board of directors, and whether they are ful ...

Sep 25, 2025 10:50 AM Eastern Daylight TimeFSFG Stock Alert: Halper Sadeh LLC Is Investigating Whether the Sale of First Savings Financial Group, Inc. Is Fair to ShareholdersShareNEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the sale of First Savings Financial Group, Inc. (NASDAQ: FSFG) to First Merchants Corporation for 0.85 of a share of First Merchants common stock per share of First Savings common stock is fair to First Savings shareholders.Halper Sad ...

Merger Announcement - First Merchants Corporation and First Savings Financial Group have entered into a definitive merger agreement valued at approximately $241.3 million in an all-stock transaction [1][3] - The merger will result in First Savings Bank merging with First Merchants Bank immediately after the completion of the merger [1] Financial Overview of First Savings - First Savings operates 16 banking centers in southern Indiana with total assets of $2.4 billion, total loans of $1.9 billion, and total deposits of $1.7 billion [2] - For the quarter ended June 30, 2025, First Savings reported a return on average assets of 1.02% and a return on average equity of 13.7% [2] Shareholder Exchange and Valuation - Common shareholders of First Savings will receive 0.85 shares of First Merchants common stock for each share of First Savings common stock owned, translating to an implied merger consideration of $33.60 per share based on First Merchants' closing stock price of $39.53 on September 24, 2025 [3] - First Merchants anticipates an earnings per share accretion of approximately 11% in 2027 and a tangible book value earnback period of 3.0 years [3] Strategic Rationale - The merger is viewed as a significant addition to First Merchants' Indiana deposit network, enhancing growth potential in southern Indiana [4] - The combined company will focus on diversified loan growth through triple net lease financing, first lien HELOCs, and SBA lending [4] Combined Company Profile - Post-merger, the combined assets of First Merchants and First Savings will be approximately $21.0 billion, making First Merchants the second largest financial holding company headquartered in Indiana [5] - The combined entity will operate 127 branches across Indiana, Michigan, and Ohio [5] Leadership and Integration - Larry W. Myers, President and CEO of First Savings, is expected to be appointed to the Board of Directors of First Merchants [5] - The transaction is anticipated to close in the first quarter of 2026, pending shareholder and regulatory approvals, with system integration expected to be completed by the second quarter of 2026 [4][5]

Core Viewpoint - First Savings Financial (FSFG) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which significantly influence stock prices [1][4]. Earnings Estimates and Revisions - The Zacks Consensus Estimate for First Savings Financial for the fiscal year ending September 2025 is projected at $2.95 per share, remaining unchanged from the previous year [9]. - Over the past three months, analysts have increased their earnings estimates for First Savings Financial by 1.7% [9]. Zacks Rating System - The Zacks rating system is based solely on a company's changing earnings picture, which is a critical factor in determining stock price movements [2][3]. - The system classifies stocks into five groups, with Zacks Rank 1 (Strong Buy) to Zacks Rank 5 (Strong Sell), and has shown a strong track record, with Zacks Rank 1 stocks averaging an annual return of +25% since 1988 [8][10]. - The upgrade of First Savings Financial to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [11]. Impact of Institutional Investors - Changes in earnings estimates are closely correlated with stock price movements, largely due to institutional investors who adjust their valuations based on these estimates [5][6].

Part I Financial Information [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) The unaudited condensed consolidated financial statements detail the company's financial position, operations, and cash flows, reflecting asset shifts and income growth [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets slightly decreased to **$2.42 billion** by June 30, 2025, driven by reduced net loans, while liabilities shifted from deposits to FHLB borrowings Condensed Consolidated Balance Sheets | Item | June 30, 2025 ($ in thousands) | September 30, 2024 ($ in thousands) | | :--- | :--- | :--- | | **Total Assets** | **$2,416,675** | **$2,450,368** | | Loans, net | $1,895,821 | $1,963,852 | | Debt securities available for sale | $243,411 | $248,679 | | Total cash and cash equivalents | $52,123 | $52,142 | | **Total Liabilities** | **$2,232,853** | **$2,273,253** | | Total deposits | $1,736,194 | $1,880,881 | | Federal Home Loan Bank borrowings | $434,924 | $301,640 | | **Total Stockholders' Equity** | **$183,822** | **$177,115** | [Condensed Consolidated Statements of Income](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) Net income significantly increased for both the three and nine-month periods ended June 30, 2025, driven by higher net interest and noninterest income Condensed Consolidated Statements of Income | Item | Three Months Ended June 30, 2025 ($ in thousands) | Three Months Ended June 30, 2024 ($ in thousands) | Nine Months Ended June 30, 2025 ($ in thousands) | Nine Months Ended June 30, 2024 ($ in thousands) | | :--- | :--- | :--- | :--- | :--- | | Net interest income | $16,725 | $14,534 | $48,178 | $42,985 | | Total noninterest income | $4,520 | $3,196 | $14,183 | $9,688 | | Total noninterest expense | $13,693 | $12,431 | $42,334 | $40,248 | | **Net Income** | **$6,166** | **$4,073** | **$17,890** | **$9,920** | | **Diluted EPS** | **$0.88** | **$0.60** | **$2.57** | **$1.45** | [Condensed Consolidated Statements of Comprehensive Income](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income) Comprehensive income for the nine months ended June 30, 2025, was **$9.0 million**, significantly impacted by unrealized losses on available-for-sale securities Condensed Consolidated Statements of Comprehensive Income | Item | Three Months Ended June 30, 2025 ($ in thousands) | Nine Months Ended June 30, 2025 ($ in thousands) | | :--- | :--- | :--- | | Net Income | $6,166 | $17,890 | | Other Comprehensive Income (Loss) | $(676) | $(8,866) | | **Comprehensive Income** | **$5,490** | **$9,024** | [Condensed Consolidated Statements of Changes in Stockholders' Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders%27%20Equity) Stockholders' equity increased to **$183.8 million** by June 30, 2025, driven by net income, partially offset by comprehensive loss and dividends - Key drivers for the change in stockholders' equity over the nine months ended June 30, 2025 include: - Net income: **+$17.9 million**[12](index=12&type=chunk) - Other comprehensive loss: **-$8.9 million**[12](index=12&type=chunk) - Common stock dividends paid: **-$3.3 million**[12](index=12&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Cash and cash equivalents remained stable for the nine months ended June 30, 2025, with operating outflows offset by investing inflows from loan sales Condensed Consolidated Statements of Cash Flows | Item | Nine Months Ended June 30, 2025 ($ in thousands) | Nine Months Ended June 30, 2024 ($ in thousands) | | :--- | :--- | :--- | | Net Cash Provided by (Used in) Operating Activities | $(26,155) | $89,979 | | Net Cash Provided by (Used In) Investing Activities | $60,800 | $(167,069) | | Net Cash Provided by (Used In) Financing Activities | $(34,664) | $88,668 | | **Net Increase (Decrease) in Cash and Cash Equivalents** | **$(19)** | **$11,578** | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail accounting policies, financial statement components, including ACL methodology, investment and loan portfolios, and segment performance [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=64&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance, highlighting substantial net income growth, a strategic shift in funding, and a strong 'well-capitalized' regulatory position [Comparison of Financial Condition](index=64&type=section&id=Comparison%20of%20Financial%20Condition) Net loans decreased by **$68.0 million** due to a bulk sale, while deposits declined and FHLB borrowings increased to manage funding - Net loans receivable decreased by **$68.0 million**, primarily due to the transfer and subsequent bulk sale of approximately **$87.2 million** of residential real estate home equity line of credit loans[190](index=190&type=chunk) - Total deposits decreased by **$144.7 million**, driven by a **$229.1 million** reduction in brokered deposits[194](index=194&type=chunk) - Borrowings from the FHLB increased by **$133.3 million**, utilized in place of the decreased brokered deposits[196](index=196&type=chunk) [Results of Operations for the Three Months Ended June 30, 2025 and 2024](index=66&type=section&id=Results%20of%20Operations%20for%20the%20Three%20Months%20Ended%20June%2030%2C%202025%20and%202024) Net income for Q3 2025 significantly increased to **$6.2 million**, driven by higher net interest income and expanded tax-equivalent net interest margin - Net income increased to **$6.2 million** (**$0.88** per diluted share) for Q3 2025, compared to **$4.1 million** (**$0.60** per diluted share) for Q3 2024[198](index=198&type=chunk) - Net interest income increased by **$2.2 million** (**15.1%**) year-over-year, with the tax-equivalent net interest margin improving to **2.99%** from **2.67%**[199](index=199&type=chunk) - Noninterest income increased by **$1.3 million**, primarily due to a **$617,000** gain on sale of home equity lines of credit and a **$565,000** gain from a lease termination[210](index=210&type=chunk) [Results of Operations for the Nine Months Ended June 30, 2025 and 2024](index=70&type=section&id=Results%20of%20Operations%20for%20the%20Nine%20Months%20Ended%20June%2030%2C%202025%20and%202024) Net income for the nine months ended June 30, 2025, rose to **$17.9 million**, driven by increased net interest and noninterest income, and a credit for credit losses - Net income for the nine-month period was **$17.9 million** (**$2.57** per diluted share), up from **$9.9 million** (**$1.45** per diluted share) in the prior year[215](index=215&type=chunk) - Net interest income increased by **$5.2 million** (**12.1%**), with the tax-equivalent net interest margin expanding to **2.89%** from **2.67%**[216](index=216&type=chunk) - A net credit for credit losses of **$263,000** was recorded, compared to a **$1.6 million** provision in the prior year, primarily due to the bulk sale of **$87.2 million** of home equity loans[226](index=226&type=chunk) - Noninterest income increased by **$4.5 million**, driven by a **$3.1 million** gain on sale of home equity lines of credit and a **$403,000** gain on sale of equity securities[228](index=228&type=chunk) [Liquidity and Capital Resources](index=75&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity through diverse funding sources and remains 'well-capitalized' with substantial borrowing capacity as of June 30, 2025 - Primary sources of funds include customer deposits, loan repayments, maturing securities, and FHLB borrowings[233](index=233&type=chunk) - At June 30, 2025, the Bank had total borrowing capacity of **$800.0 million** from the FHLB, with **$434.9 million** outstanding[233](index=233&type=chunk) - As of June 30, 2025, the Bank was categorized as 'well-capitalized' under regulatory guidelines, with a total capital to risk-weighted assets ratio of **12.47%**, exceeding the **10.0%** requirement[238](index=238&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=77&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company manages interest rate risk using a Net Interest Income at Risk model, projecting a **4.56%** decrease in NII for a **100bp** rate increase Projected Change in Net Interest Income | Immediate Change in Interest Rates (bp) | Projected % Change in Net Interest Income (1-Year Horizon) | | :--- | :--- | | +300bp | (12.38)% | | +200bp | (8.47)% | | +100bp | (4.56)% | | -100bp | 5.18% | | -200bp | 10.34% | [Controls and Procedures](index=79&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2025, with no material changes to internal control over financial reporting - The principal executive officer and principal financial officer concluded that the Company's disclosure controls and procedures were effective as of June 30, 2025[252](index=252&type=chunk) - No material changes in internal control over financial reporting occurred during the three months ended June 30, 2025[253](index=253&type=chunk) Part II Other Information [Legal Proceedings](index=80&type=section&id=Item%201.%20Legal%20Proceedings) As of June 30, 2025, the company is not involved in any legal proceedings expected to materially impact its financial condition or operations - The Company is not a party to any legal proceedings that would require disclosure or have a material adverse effect on its financial condition[256](index=256&type=chunk) [Risk Factors](index=80&type=section&id=Item%201A.%20Risk%20Factors) No material changes have occurred to the risk factors previously disclosed in the Annual Report on Form 10-K for the year ended September 30, 2024 - No material changes have occurred to the risk factors described in the Annual Report on Form 10-K for the year ended September 30, 2024[257](index=257&type=chunk) [Unregistered Sales of Equity Securities, Use of Proceeds, And Issuer Purchases of Equity Securities](index=81&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%2C%20Use%20of%20Proceeds%2C%20And%20Issuer%20Purchases%20of%20Equity%20Securities) During Q3 2025, the company repurchased **1,428** shares of common stock at an average price of **$27.64** under its repurchase program Issuer Purchases of Equity Securities | Period | Total Shares Purchased | Average Price Paid per Share ($) | | :--- | :--- | :--- | | April 2025 | — | $— | | May 2025 | 1,428 | $27.64 | | June 2025 | — | $— | | **Total** | **1,428** | **$27.64** | [Other Information](index=81&type=section&id=Item%205.%20Other%20Information) No directors or executive officers adopted or terminated Rule 10b5-1 trading plans during the three months ended June 30, 2025 - No directors or executive officers adopted or terminated any Rule 10b5-1 trading plans during the three months ended June 30, 2025[263](index=263&type=chunk) [Exhibits](index=82&type=section&id=Item%206.%20Exhibits) The report includes various exhibits filed with Form 10-Q, such as CEO/CFO certifications and XBRL interactive data files

分组1 - First Savings Financial (FSFG) reported quarterly earnings of $0.81 per share, exceeding the Zacks Consensus Estimate of $0.72 per share, and up from $0.52 per share a year ago, representing an earnings surprise of +12.50% [1] - The company posted revenues of $21.25 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 5.17%, compared to year-ago revenues of $17.73 million [2] - Over the last four quarters, First Savings Financial has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] 分组2 - The stock has underperformed the market, losing about 1.9% since the beginning of the year, while the S&P 500 gained 8.1% [3] - The current consensus EPS estimate for the coming quarter is $0.80 on $21.2 million in revenues, and for the current fiscal year, it is $2.90 on $79.1 million in revenues [7] - The Zacks Industry Rank for Financial - Savings and Loan is currently in the bottom 26% of over 250 Zacks industries, indicating potential challenges for stock performance [8]

Core Financial Performance - The company reported net income of $6.2 million, or $0.88 per diluted share, for the quarter ended June 30, 2025, compared to $4.1 million, or $0.60 per diluted share, for the same quarter in 2024, marking a significant year-over-year increase [1] - For the nine months ended June 30, 2025, net income was $17.9 million, or $2.57 per diluted share, compared to $9.9 million, or $1.45 per diluted share, for the same period in 2024 [9] Revenue and Income Analysis - Net interest income increased by $2.2 million, or 15.1%, to $16.7 million for the quarter ended June 30, 2025, driven by an increase in interest income and a decrease in interest expense [3] - Noninterest income rose by $1.3 million for the quarter ended June 30, 2025, primarily due to gains from sales of SBA loans and home equity lines of credit [5] Expense Management - Noninterest expense increased by $1.3 million for the quarter ended June 30, 2025, mainly due to higher compensation and benefits related to stronger company performance [6] - The efficiency ratio improved to 64.45% for the quarter ended June 30, 2025, compared to 70.11% for the same period in 2024, indicating better cost management [30] Asset Quality and Credit Losses - The company recognized a provision for credit losses of $347,000 for loans and $77,000 for unfunded lending commitments for the quarter ended June 30, 2025, compared to higher provisions in the same period of 2024 [4] - Nonperforming loans decreased from $16.9 million at September 30, 2024, to $15.2 million at June 30, 2025, reflecting improved asset quality [4] Capital and Equity Position - Total stockholders' equity increased by $6.7 million, from $177.1 million at September 30, 2024, to $183.8 million at June 30, 2025, primarily due to retained earnings [18] - The company maintained a "well-capitalized" status under applicable regulatory capital guidelines as of June 30, 2025 [18] Strategic Outlook - The company is optimistic about continued profitability and growth in the SBA Lending segment, with a robust lending pipeline for the fourth fiscal quarter [2] - Focus areas include customer deposit growth, selective loan growth opportunities, and prudent capital and liquidity management [2]