Exhibit 99.1 FIRST SAVINGS FINANCIAL GROUP, INC. REPORTS FINANCIAL RESULTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2025 Jeffersonville, Indiana — October 29, 2025. First Savings Financial Group, Inc. (NASDAQ: FSFG - news) (the "Company"), the holding company for First Savings Bank (the "Bank"), today reported net income of $23.2 million, or $3.32 per diluted share, for the year ended September 30, 2025, compared to net income of $13.6 million, or $1.98 per diluted share, for the year ended September 30, 202 ...

JEFFERSONVILLE, Ind., Oct. 29, 2025 (GLOBE NEWSWIRE) -- First Savings Financial Group, Inc. (NASDAQ: FSFG - news) (the "Company"), the holding company for First Savings Bank (the "Bank"), today reported net income of $23.2 million, or $3.32 per diluted share, for the year ended September 30, 2025, compared to net income of $13.6 million, or $1.98 per diluted share, for the year ended September 30, 2024. Excluding expenses related to the announced and pending merger with First Merchants Corporation, the Comp ...

Core Viewpoint - Monteverde & Associates PC is investigating the proposed sale of First Savings Financial Group, Inc. to First Merchants Corporation, questioning the fairness of the deal where each share of First Savings will convert into 0.85 shares of First Merchants [1]. Company Overview - Monteverde & Associates PC is recognized as a Top 50 Firm in the 2024 ISS Securities Class Action Services Report and has a successful track record in recovering millions for shareholders [1][2]. - The firm operates from the Empire State Building in New York City and specializes in class action securities litigation [2]. Transaction Details - The proposed transaction involves First Savings Financial Group, Inc. (NASDAQ: FSFG) selling to First Merchants Corporation, with the conversion ratio set at 0.85 shares of First Merchants for each share of First Savings [1].

Group 1 - First Merchants has been downgraded by Raymond James & Associates following its announcement of the acquisition of First Savings Financial Group [2] - The acquisition is part of First Merchants' strategy to expand its financial services offerings [2]

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]

Group 1 - The Ademi Firm is investigating First Savings (Nasdaq: FSFG) for potential breaches of fiduciary duty and other legal violations related to its transaction with First Merchants [1] - Shareholders of First Savings will receive 0.85 shares of First Merchants common stock for each share of First Savings stock, implying a consideration of $33.60 per share based on First Merchants' closing price of $39.53 on September 24 [2] - The transaction agreement restricts competing offers for First Savings by imposing a significant penalty for accepting a competing bid, raising concerns about the First Savings board's fulfillment of fiduciary duties to shareholders [3]

Core Viewpoint - Halper Sadeh LLC is investigating the fairness of the sale of First Savings Financial Group, Inc. to First Merchants Corporation, specifically whether the exchange ratio of 0.85 shares of First Merchants common stock per share of First Savings common stock is equitable for shareholders [1][3]. Group 1 - The investigation focuses on potential violations of federal securities laws and breaches of fiduciary duties by First Savings and its board of directors [3]. - Key concerns include whether the best possible consideration was obtained for shareholders, if First Merchants is underpaying for First Savings, and whether all material information necessary for shareholders to assess the merger was disclosed [3][4]. - Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures, and other forms of relief [4].

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