First Savings Financial (US:FSFG) Globenewswireยท2025-05-01 22:00Core Viewpoint - The Company has successfully redeemed $20.0 million of high-cost subordinated notes, which is expected to enhance its net interest margin and create opportunities for future share repurchases [1][2]. Financial Summary - The subordinated notes were originally issued on September 20, 2018, with a fixed-to-floating rate of 5.95%, and prior to redemption, they yielded 7.66% [1]. - The Bank funded the redemption through a $19.0 million dividend, supported by short-term wholesale borrowings at a rate of 4.48% [1]. - As of March 31, 2025, the Bank maintained leverage and total risk-based capital ratios above 9.0% and 12.0%, respectively, which continued post-redemption as of April 30, 2025 [1]. Strategic Initiatives - The redemption of the subordinated notes is part of the Company's strategic initiatives aimed at reducing high-cost debt and potentially repurchasing common shares in the future [2]. - The Company anticipates building excess capital, which would support the share repurchase strategy if deemed accretive to earnings per share [2]. Company Overview - The Bank operates as a community bank in Jeffersonville, Indiana, with fifteen depository branches in Southern Indiana and two national lending programs [2]. - The Bank is recognized for its lending programs and aims to be the best community bank, contributing to its success [2].