First Savings Financial (FSFG) came out with quarterly earnings of $0.52 per share, beating the Zacks Consensus Estimate of $0.43 per share. This compares to earnings of $0.54 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 20.93%. A quarter ago, it was expected that this bank holding company would post earnings of $0.55 per share when it actually produced earnings of $0.59, delivering a surprise of 7.27%.Over the last four qu ...

JEFFERSONVILLE, Ind., April 25, 2024 (GLOBE NEWSWIRE) -- First Savings Financial Group, Inc. (NASDAQ:FSFG) (the "Company"), the holding company for First Savings Bank (the "Bank"), today reported net income of $4.9 million, or $0.72 per diluted share, for the quarter ended March 31, 2024 compared to net income of $3.7 million, or $0.54 per diluted share, for the quarter ended March 31, 2023. Excluding nonrecurring items, the Company reported net income of $3.6 million (non-GAAP measure)(1) and net income pe ...

First Savings Financial Group Inc. (FSFG) announced a quarterly cash dividend of 15 cents per share, implying a 7.1% increase from the previous figure. This dividend will be paid out on Mar 29, 2024, to shareholders of record as of Mar 15.Prior to this, FSFG had raised its dividend by 7.7% to 14 cents per share on Nov 30, 2022. It has increased its dividend rate eight times in the past five years. The company has a five-year annualized dividend growth rate of 31.25%. Currently, the company’s payout ratio is ...

JEFFERSONVILLE, Ind., Feb. 28, 2024 (GLOBE NEWSWIRE) -- First Savings Financial Group, Inc. (NASDAQ:FSFG) (the "Company"), the holding company for First Savings Bank (the "Bank"), announced that its Board of Directors declared a quarterly cash dividend of $0.15 per common share. The dividend will be paid on or about March 29, 2024 to stockholders of record as of the close of business March 15, 2024.   The Bank is an entrepreneurial community bank headquartered in Jeffersonville, Indiana, which is directly a ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 1-34155 First Savings Financial Group, Inc. (Exact name of registrant as specified in its charter) Indiana 37-156787 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File Number: 1-34155 FIRST SAVINGS FINANCIAL GROUP, INC. (Exact name of registrant as specified in its charter) | Indiana | | 37-1567871 | | --- | --- ...

PART I - FINANCIAL INFORMATION This section presents the company's unaudited condensed consolidated financial statements and management's discussion and analysis of financial condition and results of operations [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements, including balance sheets, income statements, comprehensive income statements, statements of changes in stockholders' equity, and cash flow statements, along with detailed notes explaining accounting policies, loan portfolio specifics, investment securities, fair value measurements, and regulatory capital [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) This section presents the company's financial position, detailing assets, liabilities, and equity at specific reporting dates Metric | Metric | June 30, 2023 (In thousands) | September 30, 2022 (In thousands) | Change (In thousands) | | :---------------------------------- | :----------------------------- | :-------------------------------- | :-------------------- | | Total Assets | $2,260,421 | $2,093,725 | +$166,696 | | Loans, net | $1,691,289 | $1,474,544 | +$216,745 | | Debt securities available for sale | $248,397 | $316,517 | -$68,120 | | Total Deposits | $1,659,765 | $1,515,834 | +$143,931 | | Federal Home Loan Bank borrowings | $345,000 | $307,303 | +$37,697 | | Total Stockholders' Equity | $165,068 | $151,565 | +$13,503 | [Condensed Consolidated Statements of Income](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) This section outlines the company's revenues, expenses, and net income over specified periods, reflecting operational performance Three Months Ended June 30 | Metric | 2023 (In thousands) | 2022 (In thousands) | Change (In thousands) | | :-------------------------- | :-------------------- | :-------------------- | :-------------------- | | Net Income | $2,324 | $2,638 | -$314 | | Basic EPS | $0.34 | $0.37 | -$0.03 | | Total Interest Income | $26,798 | $18,479 | +$8,319 | | Total Interest Expense | $11,933 | $2,568 | +$9,365 | | Net Interest Income | $14,865 | $15,911 | -$1,046 | | Total Noninterest Income | $7,196 | $10,033 | -$2,837 | | Total Noninterest Expense | $18,965 | $22,835 | -$3,870 | Nine Months Ended June 30 | Metric | 2023 (In thousands) | 2022 (In thousands) | Change (In thousands) | | :-------------------------- | :-------------------- | :-------------------- | :-------------------- |\ | Net Income | $8,919 | $13,978 | -$5,059 | | Basic EPS | $1.30 | $1.97 | -$0.67 | | Total Interest Income | $75,092 | $50,042 | +$25,050 | | Total Interest Expense | $29,054 | $6,215 | +$22,839 | | Net Interest Income | $46,038 | $43,827 | +$2,211 | | Total Noninterest Income | $19,900 | $46,696 | -$26,796 | | Total Noninterest Expense | $54,475 | $73,148 | -$18,673 | [Condensed Consolidated Statements of Comprehensive Income (Loss)](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)) This section reports net income alongside other comprehensive income or loss components, providing a complete view of non-owner changes in equity Comprehensive Income (Loss) - Three Months Ended June 30 | Metric | 2023 (In thousands) | 2022 (In thousands) | | :---------------------------------- | :-------------------- | :-------------------- | | Net Income | $2,324 | $2,638 | | Other Comprehensive Income (Loss), net of tax | $(3,366) | $(11,224) | | **Comprehensive Income (Loss)** | **$(1,042)** | **$(8,586)** | Comprehensive Income (Loss) - Nine Months Ended June 30 | Metric | 2023 (In thousands) | 2022 (In thousands) | | :---------------------------------- | :-------------------- | :-------------------- | | Net Income | $8,919 | $13,978 | | Other Comprehensive Income (Loss), net of tax | $9,514 | $(21,460) | | **Comprehensive Income (Loss)** | **$18,433** | **$(7,482)** | [Condensed Consolidated Statements of Changes in Stockholders' Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders'%20Equity) This section details the changes in the company's equity, including net income, dividends, and other comprehensive income, over the reporting period Changes in Stockholders' Equity - Nine Months Ended June 30, 2023 | Metric | Amount (In thousands) | | :---------------------------------- | :-------------------- | | Balances at **October 1, 2022** | **$151,565** | | Net income | **$8,919** | | Other comprehensive income | **$9,514** | | Common stock dividends (**$0.41 per share**) | **$(2,831)** | | Purchase of treasury shares | **$(2,625)** | | **Balances at June 30, 2023** | **$165,068** | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This section categorizes cash inflows and outflows from operating, investing, and financing activities, illustrating liquidity and solvency Cash Flows - Nine Months Ended June 30 | Activity | 2023 (In thousands) | 2022 (In thousands) | | :---------------------------------- | :-------------------- | :-------------------- | | Net Cash Provided By Operating Activities | $13,980 | $88,556 | | Net Cash Used In Investing Activities | $(149,683) | $(380,977) | | Net Cash Provided By Financing Activities | $136,513 | $296,461 | | Net Increase in Cash and Cash Equivalents | $810 | $4,040 | | Cash and Cash Equivalents at End of Period | $42,475 | $37,468 | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed explanations and disclosures for the condensed consolidated financial statements, clarifying accounting policies and significant balances [1. Presentation of Interim Information](index=8&type=section&id=1.%20Presentation%20of%20Interim%20Information) This note describes the basis of presentation for interim financial statements and outlines significant accounting policies applied - First Savings Financial Group, Inc. is a financial holding company, with First Savings Bank as its commercial bank subsidiary and First Savings Insurance Risk Management, Inc. (Captive) as its insurance subsidiary, which is **planned for dissolution by September 30, 2023**[18](index=18&type=chunk)[19](index=19&type=chunk)[20](index=20&type=chunk) - Loans are stated at unpaid principal balances, net of deferred loan fees and the allowance for loan losses. Income recognition is **discontinued for loans 90 days past due unless deemed collectible and well secured**[24](index=24&type=chunk)[25](index=25&type=chunk) - The allowance for loan losses is **evaluated quarterly based on historical experience, loan portfolio characteristics, economic conditions, and collateral values, consisting of specific and general components**[31](index=31&type=chunk)[32](index=32&type=chunk) [2. Investment Securities](index=14&type=section&id=2.%20Investment%20Securities) This note details the company's investment securities portfolio, including available-for-sale debt securities and impairment analysis Debt Securities Available for Sale (Fair Value) | Metric | June 30, 2023 (In thousands) | September 30, 2022 (In thousands) | | :---------------------------------- | :----------------------------- | :-------------------------------- | | Total debt securities available for sale | $248,397 | $316,517 | | Total gross unrealized losses | $22,564 | $34,468 | - The **fair value of available-for-sale debt securities in loss positions was 90.4%** of amortized cost at **June 30, 2023**, compared to **88.9%** at **September 30, 2022**[63](index=63&type=chunk) - An **other-than-temporary impairment charge of $28,000** was recognized in the nine months ended **June 30, 2023**, for privately-issued CMO and ABS securities. Management does not deem other unrealized losses as **other-than-temporary due to the intent and ability to hold securities to maturity or for the foreseeable future**[65](index=65&type=chunk)[66](index=66&type=chunk) [3. Loans and Allowance for Loan Losses](index=19&type=section&id=3.%20Loans%20and%20Allowance%20for%20Loan%20Losses) This note provides a comprehensive breakdown of the loan portfolio, the allowance for loan losses, and nonperforming assets Loan Portfolio Composition at June 30, 2023 | Loan Type | Amount (In thousands) | | :-------------------------- | :-------------------- | | Residential real estate | $487,450 | | Commercial real estate | $187,005 | | Single tenant net lease | $740,967 | | SBA commercial real estate | $49,661 | | Multifamily | $35,260 | | Residential construction | $18,758 | | Commercial construction | $10,656 | | Land and land development | $11,332 | | Commercial business | $108,375 | | SBA commercial business | $18,008 | | Consumer | $39,643 | | **Total loans** | **$1,707,115** | Allowance for Loan Losses at June 30, 2023 | Impairment Method | Amount (In thousands) | | :-------------------------- | :-------------------- | | Individually Evaluated for Impairment | $996 | | Collectively Evaluated for Impairment | $15,842 | | **Ending Balance** | **$16,838** | Nonperforming Loans at June 30, 2023 | Type | Amount (In thousands) | | :-------------------------- | :-------------------- | | Nonaccrual Loans | $11,707 | | Loans 90+ Days Past Due Still Accruing | $0 | | **Total Nonperforming Loans** | **$11,707** | Troubled Debt Restructurings (TDRs) at June 30, 2023 | Status | Amount (In thousands) | | :-------------------------- | :-------------------- | | Accruing | $2,373 | | Nonaccrual | $2,379 | | **Total TDRs** | **$4,752** | - Residential mortgage loan servicing rights (MSRs) had a fair value of **$60.6 million** at **June 30, 2023**, servicing **$4.75 billion** in **unpaid principal balance** of residential mortgage loans for others. **Net servicing income** for residential MSRs was **$7.2 million** for the nine months ended **June 30, 2023**[100](index=100&type=chunk)[101](index=101&type=chunk) [4. Deposits](index=37&type=section&id=4.%20Deposits) This note presents the composition of the company's deposit liabilities by type, reflecting funding sources Deposits at June 30, 2023 | Deposit Type | Amount (In thousands) | | :-------------------------- | :-------------------- | | Noninterest-bearing demand deposits | $315,602 | | NOW accounts | $315,187 | | Money market accounts | $301,787 | | Savings accounts | $158,007 | | Retail time deposits | $154,951 | | Brokered & reciprocal time deposits | $414,231 | | **Total** | **$1,659,765** | [5. Supplemental Disclosure for Net Income Per Share](index=37&type=section&id=5.%20Supplemental%20Disclosure%20for%20Net%20Income%20Per%20Share) This note provides detailed calculations for basic and diluted net income per common share, including weighted average shares outstanding Net Income Per Share - Nine Months Ended June 30 | Metric | 2023 | 2022 | | :-------------------------- | :-------------------- | :-------------------- | | Net income per common share, basic | $1.30 | $1.97 | | Net income per common share, diluted | $1.29 | $1.95 | | Weighted average common shares outstanding, basic | 6,858,739 | 7,082,034 | | Weighted average common shares outstanding, diluted | 6,893,766 | 7,166,632 | - Stock options for **282,489 shares** (**2023**) and **137,250 shares** (**2022**) were **excluded from diluted EPS calculations due to their antidilutive effect**[108](index=108&type=chunk) [6. Fair Value Measurements and Disclosures about Fair Value of Financial Instruments](index=38&type=section&id=6.%20Fair%20Value%20Measurements%20and%20Disclosures%20about%20Fair%20Value%20of%20Financial%20Instruments) This note explains the methodologies and hierarchy used for fair value measurements of financial instruments Assets Measured – Recurring Basis at June 30, 2023 | Asset Type | Level 1 (In thousands) | Level 2 (In thousands) | Level 3 (In thousands) | Total (In thousands) | | :---------------------------------- | :----------------------------- | :----------------------------- | :----------------------------- | :----------------------------- | | Securities available for sale | $0 | $248,397 | $0 | $248,397 | | Residential mortgage loans held for sale | $0 | $50,066 | $0 | $50,066 | | Derivative assets | $0 | $388 | $741 | $1,129 | | Equity securities | $149 | $0 | $0 | $149 | | Residential mortgage servicing rights | $0 | $0 | $60,649 | $60,649 | Liabilities Measured – Recurring Basis at June 30, 2023 | Liability Type | Level 1 (In thousands) | Level 2 (In thousands) | Level 3 (In thousands) | Total (In thousands) | | :---------------------------------- | :----------------------------- | :----------------------------- | :----------------------------- | :----------------------------- | | Derivative liabilities | $0 | $30 | $67 | $97 | Assets Measured – Nonrecurring Basis at June 30, 2023 | Asset Type | Level 1 (In thousands) | Level 2 (In thousands) | Level 3 (In thousands) | Total (In thousands) | | :---------------------------------- | :----------------------------- | :----------------------------- | :----------------------------- | :----------------------------- | | Collateral dependent loans | $0 | $0 | $2,658 | $2,658 | Residential Mortgage Loans Held for Sale (Fair Value Option) at June 30, 2023 | Metric | Amount (In thousands) | | :---------------------------------- | :-------------------- | | Aggregate Fair Value | $50,066 | | Aggregate Principal Balance | $49,177 | | Difference | $889 | [7. Employee Stock Ownership Plan](index=46&type=section&id=7.%20Employee%20Stock%20Ownership%20Plan) This note discusses the status and financial impact of the company's Employee Stock Ownership Plan - The ESOP loan was **fully repaid** in **Q4 2015**, and all shares have been allocated to participants, resulting in **no compensation expense recognized** for the three- and nine-month periods ended **June 30, 2023** and **2022**[136](index=136&type=chunk) - The ESOP trust held **293,695 shares** of Company common stock at **June 30, 2023**, and **September 30, 2022**[136](index=136&type=chunk) [8. Stock Based Compensation Plans](index=47&type=section&id=8.%20Stock%20Based%20Compensation%20Plans) This note details the company's stock option and restricted share plans, including compensation expense recognition - For the nine months ended **June 30, 2023**, **66,000 stock options** were granted, and **$228,000** in compensation expense was recognized. **Unrecognized compensation expense** for nonvested stock options was **$883,000**, **expected to be recognized over 3.67 years**[142](index=142&type=chunk) - For the nine months ended **June 30, 2023**, **22,000 restricted shares** were granted, and **$298,000** in compensation expense was recognized. **Unrecognized compensation expense** for nonvested restricted shares was **$1.1 million**, **expected to be recognized over 3.68 years**[143](index=143&type=chunk)[145](index=145&type=chunk)[146](index=146&type=chunk) [9. Derivative Financial Instruments](index=49&type=section&id=9.%20Derivative%20Financial%20Instruments) This note describes the company's use of derivative financial instruments for risk management and their fair value impact Derivative Financial Instruments at June 30, 2023 | Instrument | Notional Amount (In thousands) | Asset Derivatives (In thousands) | Liability Derivatives (In thousands) | | :---------------------------------- | :----------------------------- | :----------------------------- | :----------------------------- | | Interest rate lock commitments | $111,653 | $741 | $67 | | Forward mortgage loan sale contracts | $104,000 | $388 | $30 | | **Total** | **$215,653** | **$1,129** | **$97** | Income (Loss) from Derivative Financial Instruments - Nine Months Ended June 30 | Instrument | 2023 (In thousands) | 2022 (In thousands) | | :---------------------------------- | :-------------------- | :-------------------- | | Interest rate lock commitments | $912 | $(964) | | Forward mortgage loan sale contracts | $121 | $19,098 | | **Total** | **$1,033** | **$18,134** | [10. Regulatory Capital](index=50&type=section&id=10.%20Regulatory%20Capital) This note outlines the company's compliance with regulatory capital requirements and its capital adequacy ratios - As of **June 30, 2023**, the Bank was **categorized as 'well capitalized'** under regulatory frameworks, **exceeding all minimum capital requirements**[154](index=154&type=chunk)[228](index=228&type=chunk) Bank Capital Ratios at June 30, 2023 | Ratio | Actual Ratio | Minimum To Be Well Capitalized | | :---------------------------------- | :-------------------- | :----------------------------- | | Total capital (to risk-weighted assets) | 11.35% | 10.00% | | Tier 1 capital (to risk-weighted assets) | 10.49% | 8.00% | | Common equity tier 1 capital (to risk-weighted assets) | 10.49% | 6.50% | | Tier 1 capital (to average adjusted total assets) | 9.06% | 5.00% | [11. Recent Accounting Pronouncements](index=53&type=section&id=11.%20Recent%20Accounting%20Pronouncements) This note summarizes recently issued accounting standards and their anticipated impact on the company's financial reporting - The Company plans to adopt the **Current Expected Credit Loss (CECL) methodology** (ASU **2016-13**) effective **October 1, 2023**, **anticipating a one-time cumulative effect adjustment**[159](index=159&type=chunk) - ASU **2022-02** **eliminates current accounting guidance for Troubled Debt Restructurings (TDRs)** by creditors, **enhancing disclosure requirements** for certain loan refinancings and restructurings, effective concurrently with CECL[160](index=160&type=chunk) - ASU **2022-03** clarifies that **contractual sale restrictions on equity securities are not considered part of their fair value measurement**, effective for fiscal years beginning after **December 15, 2023**[161](index=161&type=chunk) [12. Segment Reporting](index=55&type=section&id=12.%20Segment%20Reporting) This note provides financial information disaggregated by the company's operating segments, detailing their performance and assets - The Company operates through **three primary segments: core banking, SBA lending, and mortgage banking**[163](index=163&type=chunk) Segment Profit (Loss) - Nine Months Ended June 30, 2023 | Segment | Profit (Loss) (In thousands) | | :-------------------------- | :-------------------- | | Core Banking | $12,304 | | SBA Lending | $(223) | | Mortgage Banking | $(3,162) | | **Consolidated Total** | **$8,919** | Segment Assets at June 30, 2023 | Segment | Assets (In thousands) | | :-------------------------- | :-------------------- | | Core Banking | $2,058,442 | | SBA Lending | $84,394 | | Mortgage Banking | $117,585 | | **Consolidated Total** | **$2,260,421** | [13. Revenue from Contracts with Customers](index=58&type=section&id=13.%20Revenue%20from%20Contracts%20with%20Customers) This note details revenue recognized from contracts with customers, categorized by service type, under ASC 606 Revenue from Contracts with Customers (In Scope for ASC 606) - Nine Months Ended June 30 | Revenue Type | 2023 (In thousands) | 2022 (In thousands) | | :---------------------------------- | :-------------------- | :-------------------- | | Service charges on deposit accounts | $1,538 | $1,329 | | ATM and interchange fees | $1,940 | $2,047 | | Investment advisory income | $564 | $522 | | Other | $87 | $84 | | **Total Revenue from contracts with customers** | **$4,129** | **$3,982** | [14. Mortgage Banking Income](index=59&type=section&id=14.%20Mortgage%20Banking%20Income) This note breaks down the components of income and loss derived from the company's mortgage banking activities Mortgage Banking Income Components - Nine Months Ended June 30 | Component | 2023 (In thousands) | 2022 (In thousands) | | :---------------------------------- | :-------------------- | :-------------------- | | Origination and sale of mortgage loans | $5,216 | $(2,231) | | Realized and unrealized gains from Forward sales commitments | $121 | $19,098 | | Net change in fair value of residential mortgage loan servicing rights | $(3,816) | $4,679 | | Net loan servicing income | $7,238 | $6,595 | | **Total mortgage banking income** | **$11,313** | **$36,091** | [15. Loss Contingency](index=59&type=section&id=15.%20Loss%20Contingency) This note discloses potential liabilities arising from legal proceedings and regulatory discussions, assessing their financial impact - The Bank has reached a **verbal settlement agreement for a class action lawsuit regarding NSF fees**, with an **immaterial loss contingency accrued**[175](index=175&type=chunk) - The Bank is in discussions with the Federal Reserve Board regarding an alleged **2019** violation, which could result in **enforcement action, civil money penalties, and remedial measures**, but a **range of potential loss cannot be estimated at this time**[176](index=176&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=60&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) This section provides management's perspective on the company's financial performance and condition, including a comparison of balance sheet items, detailed analysis of income statement components for the three and nine months ended **June 30, 2023** and **2022**, and discussions on liquidity, capital resources, and off-balance sheet arrangements [Safe Harbor Statement for Forward-Looking Statements](index=60&type=section&id=Safe%20Harbor%20Statement%20for%20Forward-Looking%20Statements) This statement cautions that forward-looking statements are subject to risks and uncertainties and are not guarantees of future performance - **Forward-looking statements are not guarantees of future performance** and are **subject to numerous risks and uncertainties**, including general economic conditions, interest rate changes, regulatory policies, and loan portfolio quality[179](index=179&type=chunk) [Critical Accounting Policies; Critical Accounting Estimates](index=60&type=section&id=Critical%20Accounting%20Policies%3B%20Critical%20Accounting%20Estimates) This section confirms there were no significant changes to the company's critical accounting policies or estimates during the reporting period - There were **no significant changes in the Company's critical accounting policies or estimates** during the nine-month period ended **June 30, 2023**[180](index=180&type=chunk) [Comparison of Financial Condition at June 30, 2023 and September 30, 2022](index=61&type=section&id=Comparison%20of%20Financial%20Condition%20at%20June%2030,%202023%20and%20September%2030,%202022) This section compares the company's balance sheet items between **June 30, 2023**, and **September 30, 2022**, highlighting key changes - Net loans receivable increased by **$216.7 million** to **$1.69 billion**, **primarily driven by growth** in residential mortgage, single tenant net lease commercial real estate, commercial business, and commercial real estate loans[184](index=184&type=chunk) - Securities available for sale decreased by **$68.1 million** to **$248.4 million** **due to sales, calls, maturities, and net decreases in fair value**, partially offset by purchases[186](index=186&type=chunk) - Total deposits increased by **$143.9 million** to **$1.66 billion**, **mainly due to a $168.5 million increase** in interest-bearing deposits, particularly brokered deposits[189](index=189&type=chunk) - Stockholders' equity increased by **$13.5 million** to **$165.1 million**, **primarily due to a decrease in accumulated other comprehensive loss and retained net income**[190](index=190&type=chunk) [Results of Operations for the Three Months Ended June 30, 2023 and 2022](index=62&type=section&id=Results%20of%20Operations%20for%20the%20Three%20Months%20Ended%20June%2030,%202023%20and%202022) This section analyzes the company's financial performance for the three months ended **June 30, 2023**, compared to the prior year - Net income decreased to **$2.3 million** (**$0.34** diluted EPS) for the three months ended **June 30, 2023**, from **$2.6 million** (**$0.37** diluted EPS) in the prior year[192](index=192&type=chunk) - Net interest income decreased by **$1.0 million** (**6.6%**) to **$14.9 million**, and the **tax-equivalent net interest margin declined to 2.94% from 3.77%**, **primarily due to a $9.4 million increase** in interest expense[193](index=193&type=chunk)[195](index=195&type=chunk) - Noninterest income decreased by **$2.8 million**, **mainly due to a $2.4 million decrease** in mortgage banking income and a net loss on sale of available-for-sale securities[206](index=206&type=chunk) - Noninterest expense decreased by **$3.9 million**, **primarily due to a $4.1 million reduction** in compensation and benefits driven by staff reductions and lower incentive compensation in the mortgage banking segment[207](index=207&type=chunk) [Results of Operations for the Nine Months Ended June 30, 2023 and 2022](index=65&type=section&id=Results%20of%20Operations%20for%20the%20Nine%20Months%20Ended%20June%2030,%202023%20and%202022) This section analyzes the company's financial performance for the nine months ended **June 30, 2023**, compared to the prior year - Net income decreased to **$8.9 million** (**$1.29** diluted EPS) for the nine months ended **June 30, 2023**, from **$14.0 million** (**$1.95** diluted EPS) in the prior year[209](index=209&type=chunk) - Net interest income increased by **$2.2 million** (**5.0%**) to **$46.0 million**, but the **tax-equivalent net interest margin decreased to 3.13% from 3.73%**, as a **$25.1 million increase** in interest income was largely offset by a **$22.8 million increase** in interest expense[210](index=210&type=chunk)[211](index=211&type=chunk)[212](index=212&type=chunk) - Noninterest income decreased significantly by **$26.8 million**, **primarily due to a $24.8 million decrease** in mortgage banking income and a **$1.3 million decrease** in net gain on sale of SBA loans[219](index=219&type=chunk) - Noninterest expense decreased by **$18.7 million**, **mainly due to reductions in compensation and benefits** (**$17.8 million**), advertising (**$1.1 million**), and professional fees (**$1.0 million**), all linked to decreased mortgage banking activity[220](index=220&type=chunk) - Income tax expense decreased to **$747,000** from **$2.4 million**, with the **effective tax rate falling to 7.7% from 14.5%**, **due to investment tax credits from solar projects and lower pre-tax income**[221](index=221&type=chunk) [Liquidity and Capital Resources](index=71&type=section&id=Liquidity%20and%20Capital%20Resources) This section discusses the company's liquidity management strategies, capital adequacy, and available funding sources - The Bank's liquidity is **managed through customer deposits, loan repayments, maturing securities, and FHLB borrowings**. At **June 30, 2023**, it had **$42.5 million** in cash and cash equivalents and **$192.2 million** in unpledged available-for-sale securities[224](index=224&type=chunk) - The Bank had **significant additional borrowing capacity**, including **$245.0 million** from the FHLB and **$57 million** from federal funds lines of credit, at **June 30, 2023**[224](index=224&type=chunk) - The Bank was **in compliance with all regulatory capital requirements and categorized as 'well-capitalized'** as of **June 30, 2023**, with capital ratios exceeding minimum thresholds[228](index=228&type=chunk) [Off-Balance Sheet Arrangements](index=72&type=section&id=Off-Balance%20Sheet%20Arrangements) This section describes the company's off-balance sheet transactions and their potential impact on financial condition - The Company engages in off-balance sheet transactions, **primarily loan commitments and letters of credit**, which involve credit, interest rate, and liquidity risk[230](index=230&type=chunk) - **No off-balance sheet transactions were reasonably likely to have a material effect** on the Company's consolidated financial condition, results of operations, or cash flows for the nine months ended **June 30, 2023**[231](index=231&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=73&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section discusses the company's exposure to market risk, primarily interest rate risk, and its strategies to manage it. It includes a quantitative analysis using a Net Interest Income at Risk simulation to project the impact of hypothetical interest rate changes on net interest income [Qualitative Aspects of Market Risk](index=73&type=section&id=Qualitative%20Aspects%20of%20Market%20Risk) This section defines market risk and outlines the company's strategies for managing interest rate risk through asset-liability management - Market risk is defined as the **potential decline in fair value or net income due to changes in interest rates or financial market volatility**[234](index=234&type=chunk) - The Company **manages interest rate risk by attempting to manage the mismatch between asset and liability maturities**, emphasizing short-term loans, selling fixed-rate residential mortgages, and relying on stable retail deposits[235](index=235&type=chunk) [Quantitative Aspects of Market Risk](index=73&type=section&id=Quantitative%20Aspects%20of%20Market%20Risk) This section quantifies the potential impact of hypothetical interest rate changes on the company's net interest income using simulation models - The Company **uses a Net Interest Income at Risk simulation model to quantify the impact** of changing interest rates on projected net interest income over a one-year horizon[237](index=237&type=chunk) Simulated Impact on Net Interest Income (One Year Horizon) at June 30, 2023 | Immediate Change in Rates | Dollar Change (In thousands) | Percent Change | | :-------------------------- | :----------------------------- | :-------------------- | | +300bp | $(8,852) | (15.69)% | | +200bp | $(5,667) | (10.04)% | | +100bp | $(2,721) | (4.82)% | | -100bp | $2,638 | 4.67% | | -200bp | $3,480 | 6.17% | [Item 4. Controls and Procedures](index=75&type=section&id=Item%204.%20Controls%20and%20Procedures) This section addresses the effectiveness of the company's disclosure controls and procedures and internal control over financial reporting, identifying material weaknesses and outlining remediation efforts [Evaluation of Disclosure Controls and Procedures](index=75&type=section&id=Evaluation%20of%20Disclosure%20Controls%20and%20Procedures) This section assesses the effectiveness of the company's disclosure controls and procedures, identifying material weaknesses in internal control over financial reporting - Management concluded that the Company's disclosure controls and procedures were **not effective as of June 30, 2023**, due to **material weaknesses in internal control over financial reporting**[244](index=244&type=chunk)[248](index=248&type=chunk) - **Material weaknesses identified include ineffective design and operation of controls over other assets and liabilities** (e.g., capitalized professional fees, deferred compensation, litigation expenses) and over participation loan sales (review of contracts for sales treatment)[249](index=249&type=chunk) [Changes in Internal Controls](index=76&type=section&id=Changes%20in%20Internal%20Controls) This section describes management's ongoing remediation efforts for identified material weaknesses in internal control over financial reporting - During the quarter ended **June 30, 2023**, management **continued remediation efforts for the identified material weaknesses** by adding a second level of executive review for significant account reconciliations and participation loan sales contracts, along with additional training and oversight[251](index=251&type=chunk) - **No other changes in internal controls over financial reporting materially affected**, or are reasonably likely to materially affect, internal control during the quarter ended **June 30, 2023**[252](index=252&type=chunk) PART II - OTHER INFORMATION This section provides additional disclosures on legal proceedings, risk factors, equity sales, and other relevant information [Item 1. Legal Proceedings](index=77&type=section&id=Item%201.%20Legal%20Proceedings) This section discloses ongoing legal matters, including discussions with the Federal Reserve Board regarding an alleged violation and a class action lawsuit, for which the company is cooperating and assessing potential impacts - The Bank is in discussions with the Federal Reserve Board regarding an alleged **2019** violation, which could lead to **enforcement action, civil money penalties, and remedial measures**, though a **range of potential loss cannot be estimated**[255](index=255&type=chunk) - A **verbal settlement agreement has been reached for a class action lawsuit concerning NSF fees**, with an **immaterial loss contingency accrued**[256](index=256&type=chunk) [Item 1A. Risk Factors](index=78&type=section&id=Item%201A.%20Risk%20Factors) This section refers to the Annual Report on Form **10-K** for a comprehensive list of risk factors, while highlighting new or increased scrutiny risks related to recent bank failures, depositor confidence, and the federal debt ceiling - **No material changes to the risk factors described in the Annual Report on Form 10-K have occurred**[260](index=260&type=chunk) - **New or increased scrutiny risks include potential negative impacts on stock price from recent bank failures and depositor confidence**, **challenges in managing liquidity, interest rate risk, and capital levels**, and the **effects of federal debt ceiling issues on securities valuation and borrowing costs**[261](index=261&type=chunk)[262](index=262&type=chunk)[263](index=263&type=chunk)[264](index=264&type=chunk) [Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities](index=79&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities,%20Use%20of%20Proceeds,%20and%20Issuer%20Purchases%20of%20Equity%20Securities) This section reports no stock repurchase activity during the quarter ended **June 30, 2023**, and details the remaining authorization under the company's stock repurchase program - **No shares were purchased under the stock repurchase program** during the quarter ended **June 30, 2023**[269](index=269&type=chunk) - The Company has an **authorized stock repurchase program for up to 356,220 shares**, with **27,548 shares remaining for repurchase** as of **June 30, 2023**[269](index=269&type=chunk) [Item 3. Defaults Upon Senior Securities](index=79&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) This item states that it is not applicable to the company - **Not applicable**[266](index=266&type=chunk) [Item 4. Mine Safety Disclosures](index=79&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item states that it is not applicable to the company - **Not applicable**[267](index=267&type=chunk) [Item 5. Other Information](index=79&type=section&id=Item%205.%20Other%20Information) This section reports that no directors or executive officers adopted or terminated any Rule **10b5-1** trading plans or non-Rule **10b5-1** trading arrangements during the quarter - **No directors or executive officers adopted or terminated any Rule 10b5-1 trading plans or non-Rule 10b5-1 trading arrangements** during the quarter ended **June 30, 2023**[268](index=268&type=chunk) [Item 6. Exhibits](index=80&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form **10-Q**, including various certifications and XBRL formatted financial statements - Exhibits include **Rule 13a-14(a)/15d-14(a) Certifications of the Chief Executive Officer and Chief Financial Officer, Section 1350 Certifications, and XBRL formatted financial statements**[272](index=272&type=chunk) SIGNATURES This section contains the official signatures of the company's executive officers, certifying the accuracy of the report - The report was **signed by Larry W. Myers, President and Chief Executive Officer, and Anthony A. Schoen, Chief Financial Officer, on August 9, 2023**[274](index=274&type=chunk)

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 1-34155 First Savings Financial Group, Inc. (Exact name of registrant as specified in its charter) Indiana 37-1567871 ( ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 1-34155 Registrant's telephone number, including area code 1-812-283-0724 (Former name, former address and former fi ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File Number: 1-34155 FIRST SAVINGS FINANCIAL GROUP, INC. (Exact name of registrant as specified in its ...