First Savings Financial Group, Inc. Reports Financial Results For The Fiscal Year Ended September 30, 2025

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 Company reported net income of $23.8 million (non-GAAP measure)(1) and net income per diluted share of $3.41. (non-GAAP measure)(1) for the year ended September 30, 2025. Excluding all nonrecurring items, the Company reported net income of $22.7 million (non-GAAP measure)(1) and net income per diluted share of $3.25 (non-GAAP measure)(1) for the year ended September 30, 2025 compared to $11.7 million (non-GAAP measure)(1), or $1.70 per diluted share (non-GAAP measure)(1) for the year ended September 30, 2024. Commenting on the Company’s performance, Larry W. Myers, President and CEO, stated “We are pleased with the strong performance for the 2025 fiscal year and continually improving trends. Earnings per share, diluted, increased significantly from $1.98 for 2024 to $3.32 for 2025. Annualized return on average assets, return on average equity, and net interest margin (tax equivalent basis) improved 39 basis points, 450 basis points, and 26 basis points, respectively, when compared to the prior fiscal year. The efficiency, nonperforming loans, and nonperforming assets ratios decreased 723 basis points, 8 basis points, and 5 basis points, respectively, from September 2024. Additionally, customer deposits increased $118.2 million since September 2024 and the SBA Lending segment posted its third consecutive profitable quarter, which included a solid level of loans originations and sales. On September 25, 2025, we announced our agreement to merge with First Merchants Corporation. We are proud of what we’ve accomplished throughout our history and the 17 years since our public listing on Nasdaq Capital Markets. We will continue to execute and enhance shareholder value as we prepare for the planned 2026 integration and believe that the First Savings franchise will be a meaningful contributor to the future success of First Merchants.” (1) Non-GAAP net income and net income per diluted share exclude certain nonrecurring items. A reconciliation to GAAP and discussion of the use of non-GAAP measures is included in the table at the end of this release. Results of Operations for the Fiscal Years Ended September 30, 2025 and 2024 Net interest income increased $7.2 million, or 12.5%, to $65.3 million for the year ended September 30, 2025 as compared to the same period in 2024. The tax equivalent net interest margin for the year ended September 30, 2025 was 2.94% as compared to 2.68% for the same period in 2024. The increase in net interest income was due to a $5.5 million increase in interest income and a $1.7 million decrease in interest expense. A table of average balance sheets, including average asset yields and average liability costs, is included at the end of this release. The Company recognized a provision for unfunded lending commitments of $452,000 for the year ended September 30, 2025 and a reversal of provision for credit losses for loans and securities of $118,000 and $9,000, respectively, compared to provision for credit losses for loans and securities of $3.5 million and $21,000, respectively, and a reversal of provision for unfunded lending commitments of $421,000 for the same period in 2024. Provisions for the year ended September 30, 2025 were lower due to lower loan balances and a decrease in qualitative reserves. The Company recognized net charge-offs totaling $887,000 for the year ended September 30, 2025, of which $454,000 was related to unguaranteed portions of SBA loans, compared to net charge-offs of $527,000 in 2024, of which $104,000 was related to unguaranteed portions of SBA loans. Nonperforming loans, which consist of nonaccrual loans and loans over 90 days past due and still accruing interest, decreased $2.3 million from $16.9 million at September 30, 2024 to $14.6 million at September 30, 2025. Noninterest income increased $6.3 million for the year ended September 30, 2025 as compared to the same period in 2024. The increase was due primarily to a $4.0 million net gain on sales of home equity lines of credit (“HELOC”) in 2025 with no corresponding amount for 2024, a $1.2 million increase in net gain on sale of SBA loans, and increases in ATM and interchange fees and service charges on deposits of $374,000 and $277,000, respectively. Noninterest expense increased $4.1 million for the year ended September 30, 2025 as compared to the same period in 2024. The increase was due primarily to increases in compensation and benefits and other operating expenses of $2.9 million and $1.2 million, respectively. The increase in compensation and benefits is primarily due to routine salary increases and increases in incentive and bonus compensation in 2025 related to stronger Company performance. The increase in other operating expenses was due primarily to a $395,000 accrued contingent liability associated with employee benefits recognized in the 2025 period with no corresponding amount in 2024 and a $721,000 reversal of accrued loss contingencies for SBA-guaranteed loans in the 2024 period with no corresponding amount for 2025. The Company recognized income tax expense of $3.7 million for the year ended September 30, 2025 compared to $1.0 million for the same period in 2024. The increase is due primarily to higher taxable income in the 2025 period. The effective tax rate for 2025 was 13.8% compared to 7.0%. The effective tax rate is below the statutory tax rate primarily due to the recognition of investment tax credits related to solar projects in both the 2025 and 2024 periods. Results of Operations for the Three Months Ended September 30, 2025 and 2024 The Company reported net income of $5.3 million, or $0.75 per diluted share, for the three months ended September 30, 2025, compared to net income of $3.7 million, or $0.53 per diluted share, for the three months ended September 30, 2024. Excluding expenses related to the announced and pending merger with First Merchants Corporation, the Company reported net income of $5.9 million (non-GAAP measure)(1) and net income per diluted share of $0.84. (non-GAAP measure)(1) for the three months ended September 30, 2025. Excluding all nonrecurring items, the Company reported net income of $5.8 million (non-GAAP measure)(1) and net income per diluted share of $0.82 (non-GAAP measure)(1) for the three months ended September 30, 2025 compared to $3.7 million (non-GAAP measure)(1), or $0.53 per diluted share (non-GAAP measure)(1) for the three months ended September 30, 2024. Net interest income increased $2.1 million, or 13.6%, to $17.1 million for the three months ended September 30, 2025 as compared to the same period in 2024. The tax equivalent net interest margin for the three months ended September 30, 2025 was 3.07% as compared to 2.72% for the same period in 2024. The increase in net interest income was due to an increase of $67,000 in interest income and a decrease of $2.0 million in interest expense. A table of average balance sheets, including average asset yields and average liability costs, is included at the end of this release. The Company recognized a provision for credit losses for loans and unfunded lending commitments of $383,000 and $206,000, respectively, and a reversal of provision for credit losses on securities of $1,000 for the three months ended September 30, 2025, compared to a provision for credit losses for loans of $1.8 million and a reversal of provision for unfunded lending commitments and securities of $262,000 and $86,000, respectively, for the same period in 2024. The Company recognized net charge-offs totaling $616,000 during the three months ended September 30, 2025, of which $402,000 was related to unguaranteed portions of SBA loans. During the three months ended September 30, 2024, the Company recognized net charge-offs of $304,000, of which $120,000 was related to unguaranteed portions of SBA loans. Noninterest income increased $1.8 million for the three months ended September 30, 2025 as compared to the same period in 2024. The increase was due primarily to increases in net gain on sales of HELOC and net gain on sales of SBA loans of $929,000 and $853,000, respectively. There was no gain on sales of HELOC in the 2024 period as sales of this product commenced in fiscal 2025. Noninterest expense increased $2.0 million for the three months ended September 30, 2025 as compared to the same period in 2024. The increase in compensation and benefits is primarily due to routine salary increases and increases in incentive and bonus compensation in 2025 related to stronger Company performance. The Company recognized income tax expense of $1.3 million for the three months ended September 30, 2025 compared to $145,000 for the same period in 2024. The increase is due primarily to higher taxable income in 2025 as compared to 2024. The effective tax rate for 2025 was 19.8% compared to 3.8% for 2024. The effective tax rate is below the statutory tax rate primarily due to the recognition of investment tax credits related to solar projects in both the 2025 and 2024 periods. Comparison of Financial Condition at September 30, 2025 and September 30, 2024 Total assets decreased $50.8 million, from $2.45 billion at September 30, 2024 to $2.40 billion at September 30, 2025. Net loans held for investment decreased $77.0 million during the year ended September 30, 2025, due primarily to an $87.2 million sale of HELOC during the year ended September 30, 2025 that were previously classified as held for investment at September 30, 2024. Total loans held for sale increased $25.7 million due primarily to an increase in HELOC loans held for sale of $36.1 million, partially offset by a decrease in SBA loans held for sale of $10.9 million. Total liabilities decreased $67.2 million due primarily to a decrease in total deposits and subordinated debt and other borrowings of $171.0 and $19.8 million, respectively, partially offset by an increase in FHLB borrowings of $133.4 million. The decrease in total deposits was due to a decrease in brokered deposits of $289.2 million, which was due primarily to proceeds from the aforementioned HELOC sale and greater utilization of FHLB borrowings, partially offset by an increase in customer deposits of $118.2 million. The decrease in subordinated debt and other borrowings is due to the redemption of $20.0 million of subordinated notes during the quarter ended June 30, 2025. As of September 30, 2025, deposits exceeding the FDIC insurance limit of $250,000 per insured account were 41.9% of total deposits and 25.6% of total deposits when excluding public funds insured by the Indiana Public Deposit Insurance Fund. Total stockholders’ equity increased $16.4 million, from $177.1 million at September 30, 2024 to $193.5 million at September 30, 2025, due primarily to a $18.8 million increase in retained net income, partially offset by a $3.9 million increase in accumulated other comprehensive loss. The increase in accumulated other comprehensive loss was due primarily to increasing long-term market interest rates during the year ended September 30, 2025, which resulted in a decrease in the fair value of securities available for sale. At September 30, 2025 and September 30, 2024, the Bank was considered “well-capitalized” under applicable regulatory capital guidelines. First Savings Bank is an entrepreneurial community bank headquartered in Jeffersonville, Indiana, which is directly across the Ohio River from Louisville, Kentucky, and operates fifteen depository branches within Southern Indiana. The Bank also has two national lending programs, including single-tenant net lease commercial real estate and SBA lending, with offices located predominately in the Midwest. The Bank is a recognized leader, both in its local communities and nationally for its lending programs. The employees of First Savings Bank strive daily to achieve the organization’s vision, We Expect To Be The BEST community BANK, which fuels our success. The Company’s common shares trade on The NASDAQ Stock Market under the symbol “FSFG.” This release may contain forward-looking statements within the meaning of the federal securities laws. These statements are not historical facts; rather, they are statements based on the Company's current expectations regarding its business strategies and their intended results and its future performance. Forward-looking statements are preceded by terms such as "expects," "believes," "anticipates," "intends" and similar expressions. Forward-looking statements are not guarantees of future performance. Numerous risks and uncertainties could cause or contribute to the Company's actual results, performance and achievements to be materially different from those expressed or implied by the forward-looking statements. Factors that may cause or contribute to these differences include, without limitation, changes in general economic conditions; changes in market interest rates; changes in monetary and fiscal policies of the federal government; legislative and regulatory changes; and other factors disclosed in the Company's periodic filings with the Securities and Exchange Commission. Because of the risks and uncertainties inherent in forward-looking statements, readers are cautioned not to place undue reliance on them, whether included in this release or made elsewhere from time to time by the Company or on its behalf. Except as may be required by applicable law or regulation, the Company assumes no obligation to update any forward-looking statements. Contact:Tony A. Schoen, CPAChief Financial Officer812-283-072 FIRST SAVINGS FINANCIAL GROUP, INC. CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited) Three Months Ended Years Ended OPERATING DATA:September 30, September 30, (In thousands, except share and per share data) 2025 2024 2025 2024 Total interest income$32,290 $32,223 $127,527 $121,988 Total interest expense 15,160 17,146 62,219 63,926 Net interest income 17,130 15,077 65,308 58,062 Provision (credit) for credit losses - loans 383 1,808 (118) 3,492 Provision (credit) for unfunded lending commitments 206 (262) 452 (421) Provision (credit) for credit losses - securities (1) (86) (9) 21 Total provision for credit losses 588 1,460 325 3,092 Net interest income after provision for credit losses 16,542 13,617 64,983 54,970 Total noninterest income 4,659 2,842 18,842 12,530 Total noninterest expense 14,628 12,642 56,962 52,890 Income before income taxes 6,573 3,817 26,863 14,610 Income tax expense 1,302 145 3,702 1,018 Net income$5,271 $3,672 $23,161 $13,592 Net income per share, basic$0.77 $0.54 $3.37 $1.99 Weighted average shares outstanding, basic 6,881,658 6,833,376 6,871,242 6,830,466 Net income per share, diluted$0.75 $0.53 $3.32 $1.98 Weighted average shares outstanding, diluted 6,998,118 6,877,518 6,976,901 6,856,520 Performance ratios (annualized) Return on average assets 0.88% 0.61% 0.96% 0.58% Return on average equity 11.28% 8.52% 12.80% 8.31% Return on average common stockholders' equity 11.28% 8.52% 12.80% 8.31% Net interest margin (tax equivalent basis) 3.07% 2.72% 2.94% 2.68% Efficiency ratio 67.13% 70.55% 67.69% 74.92% QTD FYTD FINANCIAL CONDITION DATA:September 30, June 30, Increase September 30, Increase (In thousands, except per share data) 2025 2025 (Decrease) 2024 (Decrease) Total assets$2,399,532 $2,416,675 $(17,143) $2,450,368 $(50,836) Cash and cash equivalents 31,851 52,123 (20,272) 52,142 (20,291) Investment securities 252,620 244,284 8,336 249,719 2,901 Loans held for sale 51,454 19,178 32,276 25,716 25,738 Gross loans 1,907,107 1,916,343 (9,236) 1,985,146 (78,039) Allowance for credit losses 20,289 20,522 (233) 21,294 (1,005) Interest earning assets 2,232,497 2,260,099 (27,602) 2,277,512 (45,015) Goodwill 9,848 9,848 - 9,848 - Core deposit intangibles 234 275 (41) 398 (164) Noninterest-bearing deposits 187,564 202,649 (15,085) 191,528 (3,964) Interest-bearing deposits (customer) 1,302,378 1,253,525 48,853 1,180,196 122,182 Interest-bearing deposits (brokered) 219,940 280,020 (60,080) 509,157 (289,217) Federal Home Loan Bank borrowings 435,000 434,924 76 301,640 133,360 Subordinated debt and other borrowings 28,762 28,722 40 48,603 (19,841) Total liabilities 2,206,053 2,232,853 (26,800) 2,273,253 (67,200) Accumulated other comprehensive loss (15,087) (20,061) 4,974 (11,195) (3,892) Total stockholders' equity 193,479 183,822 9,657 177,115 16,364 Book value per share$27.73 $26.35 1.38 $25.72 2.01 Tangible book value per share (non-GAAP) (1) 26.28 24.90 1.39 24.23 2.05 Non-performing assets: Nonaccrual loans - SBA guaranteed$2,699 $2,713 $(14) $5,036 $(2,337) Nonaccrual loans 11,926 12,502 (576) 11,906 20 Total nonaccrual loans$14,625 $15,215 $(590) $16,942 $(2,317) Accruing loans past due 90 days - - - - - Total non-performing loans 14,625 15,215 (590) 16,942 (2,317) Foreclosed real estate 1,093 1,113 (20) 444 649 Total non-performing assets$15,718 $16,328 $(610) $17,386 $(1,668) Asset quality ratios: Allowance for credit losses as a percent of total gross loans 1.06% 1.07% (0.01%) 1.07% (0.01%) Allowance for credit losses as a percent of nonperforming loans 138.73% 134.88% 3.85% 125.69% 13.04% Nonperforming loans as a percent of total gross loans 0.77% 0.79% (0.03%) 0.85% (0.08%) Nonperforming assets as a percent of total assets 0.66% 0.68% (0.02%) 0.71% (0.05%) (1) See reconciliation of GAAP and non-GAAP financial measures for additional information relating to calculation of this item. RECONCILIATION OF GAAP AND NON-GAAP FINANCIAL MEASURES (UNAUDITED): The following non-GAAP financial measures used by the Company provide information useful to investors in understanding the Company's performance. The Company believes the financial measures presented below are important because of their widespread use by investors as a means to evaluate capital adequacy and earnings. The following table summarizes the non-GAAP financial measures derived from amounts reported in the Company's consolidated financial statements and reconciles those non-GAAP financial measures with the comparable GAAP financial measures. Three Months Ended Fiscal Year Ended Net IncomeSeptember 30, September 30, (In thousands) 2025 2024 2025 2024 Net income attributable to the Company (non-GAAP)$5,771 $3,660 $22,680 $11,674 Plus: Insured recovery of legal fees previously recognized, net of tax 157 - 157 - Plus: Gain on life insurance - - 255 - Plus: Gain on lease termination, net of tax effect - - 378 - Plus: Gain on sale of equity securities, net of tax effect - - 313 - Plus: Gain (loss) on premises and equipment, net of tax effect - - 3 35 87 Plus: Record Visa Class C shares, net of tax effect - 15 - 342 Plus: Decrease in loss contingency for SBA-guaranteed loans, net of tax effect - - - 492 Plus: Reversal of contingent liability, net of tax effect - - - 212 Plus: Adjustment to MSR valuation allowance, net of tax effect - - - 583 Plus: Adjustment to previous data processing contract termination accrual, net of tax effect - - - 117 Plus: Distribution from equity investment, net of tax effect - - - 85 Less: Merger related professional fees, net of tax effect (657) - (657) - Net income attributable to the Company (GAAP)$5,271 $3,672 $23,161 $13,592 Net Income per Share, Diluted Net income per share attributable to the Company, diluted (non-GAAP)$0.82 $0.53 $3.25 $1.70 Plus: Insured recovery of legal fees previously recognized, net of tax 0.02 - - - 0.02 - Plus: Gain on life insurance - - - - 0.04 - Plus: Gain on lease termination, net of tax effect - - - - 0.05 - Plus: Gain on sale of equity securities, net of tax effect - - - - 0.04 - Plus: Gain (loss) on premises and equipment, net of tax effect - - - - 0.01 0.01 Plus: Record Visa Class C shares, net of tax effect - - - - - 0.05 Plus: Decrease in loss contingency for SBA-guaranteed loans, net of tax effect - - - - - 0.07 Plus: Reversal of contingent liability, net of tax effect - - - - - 0.03 Plus: Adjustment to MSR valuation allowance, net of tax effect - - - - - 0.09 Plus: Adjustment to previous data processing contract termination accrual, net of tax effect - - - - - 0.02 Plus: Distribution from equity investment, net of tax effect - - - - - 0.01 Less: Merger related professional fees, net of tax effect (0.09)- - - (0.09) - Net income per share, diluted (GAAP)$0.75 $0.53 $3.32 $1.98 Core Bank Segment Net Income (In thousands) Net income attributable to the Core Bank (non-GAAP)$5,689 $4,081 $21,920 $15,941 Plus: Insured recovery of legal fees previously recognized, net of tax 157 - - - 157 - Plus: Gain on life insurance - - - - 255 - Plus: Gain on lease termination, net of tax effect - - - - 378 - Plus: Gain on sale of equity securities, net of tax effect - - - - 313 - Plus: Gain (loss) on premises and equipment, net of tax effect - - - 3 - 35 87 Plus: Record Visa Class C shares, net of tax effect - - 15 - - 342 Plus: Reversal of contingent liability, net of tax effect - - - - - 212 Plus: Adjustment to MSR valuation allowance, net of tax effect - - - - - 583 Plus: Adjustment to previous data processing contract termination accrual, net of tax effect - - - - - 117 Plus: Distribution from equity investment, net of tax effect - - - - - 85 Less: Merger related professional fees, net of tax effect (657)- - - (657) - Net income attributable to the Core Bank (GAAP)$5,189 $4,093 $22,401 $17,367 Core Bank Segment Net Income per Share, Diluted Core Bank net income per share, diluted (non-GAAP)$0.82 $0.60 $3.14 $2.33 Plus: Insured recovery of legal fees previously recognized, net of tax 0.02 - - - 0.02 - Plus: Gain on life insurance - - - - 0.04 - Plus: Gain on lease termination, net of tax effect - - - - 0.05 - Plus: Gain on sale of equity securities, net of tax effect - - - - 0.04 - Plus: Gain (loss) on premises and equipment, net of tax effect - - - - 0.01 0.01 Plus: Record Visa Class C shares, net of tax effect - - - - - 0.05 Plus: Reversal of contingent liability, net of tax effect - - - - - 0.03 Plus: Adjustment to MSR valuation allowance, net of tax effect - - - - - 0.09 Plus: Adjustment to previous data processing contract termination accrual, net of tax effect - - - - - 0.02 Plus: Distribution from equity investment, net of tax effect - - - - - 0.01 Less: Merger related professional fees, net of tax effect (0.09)- - - (0.09) - Core Bank net income per share, diluted (GAAP)$0.75 $0.60 $3.21 $2.54 RECONCILIATION OF GAAP AND NON-GAAP FINANCIAL MEASURES (UNAUDITED) (CONTINUED):Three Months Ended Fiscal Year Ended Efficiency RatioSeptember 30, September 30, (In thousands) 2025 2024 2025 2024 Net interest income (GAAP)$17,130 $15,077 $65,308 $58,062 Noninterest income (GAAP) 4,659 2,842 18,842 12,530 Noninterest expense (GAAP) 14,628 12,642 56,962 52,890 Efficiency ratio (GAAP) 67.13% 70.55% 67.69% 74.92% Noninterest income (GAAP)$4,659 $2,842 $18,842 $12,530 Less: Gain on life insurance - - (255) - Less: Gain on lease termination - - (487) - Less: Gain on sale of equity securities - - (403) - Less: (Gain) loss on premises and equipment - 4 (45) (116) Less: Record Visa Class C shares - (20) - (456) Less: Adjustment to MSR valuation allowance - - - (777) Less: Distribution from equity investment - - - (113) Noninterest income (Non-GAAP) 4,659 2,826 17,652 11,068 Noninterest expense (GAAP)$14,628 $12,642 $56,962 $52,890 Plus: Insured recovery of legal fees previously recognized 203 - 203 - Plus: Decrease in loss contingency for SBA-guaranteed loans - - - 656 Plus: Reversal of contingent liability - - - 283 Plus: Adjustment to previous data processing contract termination accrual - - - 156 Less: Merger related professional fees (707) - (707) - Noninterest expense (Non-GAAP)$14,124 $12,642 $56,458 $53,985 Efficiency ratio (excluding nonrecurring items) (non-GAAP) 64.82% 70.61% 68.05% 78.09% QTD FYTD Tangible Book Value Per ShareSeptember 30, June 30, Increase September 30, Increase (In thousands, except share and per share data) 2025 2025 (Decrease) 2024 (Decrease) Stockholders' equity (GAAP)$193,479 $183,822 $9,657 $177,115 $16,364 Less: goodwill and core deposit intangibles (10,082) (10,123) 41 (10,246) 164 Tangible stockholders' equity (non-GAAP)$183,397 $173,699 $9,698 $166,869 $16,528 Outstanding common shares 6,977,308 6,976,558 $750 6,887,106 $90,202 Tangible book value per share (non-GAAP)$26.28 $24.90 $1.39 $24.23 $2.05 Book value per share (GAAP)$27.73 $26.35 $1.38 $25.72 $2.01 SUMMARIZED FINANCIAL INFORMATION (UNAUDITED):As of Summarized Consolidated Balance SheetsSeptember 30, June 30, March 31, December 31, September 30, (In thousands, except per share data) 2025 2025 2025 2024 2024 Total cash and cash equivalents$31,851 $52,123 $28,683 $76,224 $52,142 Total investment securities 252,620 244,284 244,084 242,634 249,719 Total loans held for sale 51,454 19,178 61,239 24,441 25,716 Total loans, net of allowance for credit losses 1,886,818 1,895,821 1,880,176 1,884,514 1,963,852 Loan servicing rights 3,085 2,869 2,744 2,661 2,754 Total assets 2,399,532 2,416,675 2,376,230 2,388,735 2,450,368 Customer deposits$1,489,942 $1,456,174 $1,392,411 $1,395,766 $1,371,724 Brokered deposits 219,940 280,020 396,770 437,008 509,157 Total deposits 1,709,882 1,736,194 1,789,181 1,832,774 1,880,881 Federal Home Loan Bank borrowings 435,000 434,924 325,310 295,000 301,640 Common stock and additional paid-in capital$30,452 $30,090 $28,650 $28,382 $27,725 Retained earnings - substantially restricted 192,114 187,969 182,918 178,526 173,337 Accumulated other comprehensive loss (15,087) (20,061) (19,385) (17,789) (11,195) Unearned stock compensation (1,829) (2,005) (862) (973) (901) Less treasury stock, at cost (12,171) (12,171) (12,132) (12,119) (11,851) Total stockholders' equity 193,479 183,822 179,189 176,027 177,115 Outstanding common shares 6,977,308 6,976,558 6,919,136 6,909,173 6,887,106 Three Months Ended Summarized Consolidated Statements of IncomeSeptember 30, June 30, March 31, December 31, September 30, (In thousands, except per share data) 2025 2025 2025 2024 2024 Total interest income$32,290 $31,965 $30,823 $32,449 $32,223 Total interest expense 15,160 15,240 14,832 16,987 17,146 Net interest income 17,130 16,725 15,991 15,462 15,077 Provision (credit) for credit losses - loans 383 347 (357) (491) 1,808 Provision (credit) for unfunded lending commitments 206 77 123 46 (262) Provision (credit) for credit losses - securities (1) (1) (1) (6) (86) Total provision (credit) for credit losses 588 423 (235) (451) 1,460 Net interest income after provision (credit) for credit losses 16,542 16,302 16,226 15,913 13,617 Total noninterest income 4,659 4,520 3,560 6,103 2,842 Total noninterest expense 14,628 13,693 13,698 14,943 12,642 Income before income taxes 6,573 7,129 6,088 7,073 3,817 Income tax expense 1,302 963 589 848 145 Net income 5,271 6,166 5,499 6,225 3,672 Net income per share, basic$0.77 $0.90 $0.80 $0.91 $0.54 Weighted average shares outstanding, basic 6,881,658 6,881,077 6,875,826 6,851,153 6,832,626 Net income per share, diluted$0.75 $0.88 $0.79 $0.89 $0.53 Weighted average shares outstanding, diluted 6,998,118 6,977,674 6,960,020 6,969,223 6,894,532 SUMMARIZED FINANCIAL INFORMATION (UNAUDITED) (CONTINUED):Three Months Ended Noninterest Income DetailSeptember 30, June 30, March 31, December 31, September 30, (In thousands) 2025 2025 2025 2024 2024 Service charges on deposit accounts$582 $537 $541 $567 $552 ATM and interchange fees 698 648 632 665 642 Net unrealized gain (loss) on equity securities (50) 15 47 78 28 Net gain on equity securities - - - 403 - Net gain on sales of loans, Small Business Administration 1,500 932 1,078 711 647 Net gain on sales of loans, home equity lines of credit 929 617 - 2,492 - Mortgage banking income 79 96 104 78 6 Increase in cash surrender value of life insurance 404 358 380 361 363 Gain on life insurance - 147 - 108 - Commission income 197 184 255 210 294 Real estate lease income 16 132 122 121 122 Net gain (loss) on premises and equipment - - - 45 (4) Other income 304 854 401 264 192 Total noninterest income$4,659 $4,520 $3,560 $6,103 $2,842 Three Months Ended September 30, June 30, March 31, December 31, September 30, Consolidated Performance Ratios (Annualized) 2025 2025 2025 2024 2024 Return on average assets 0.88% 1.02% 0.93% 1.02% 0.61% Return on average equity 11.28% 13.66% 12.24% 14.07% 8.52% Return on average common stockholders' equity 11.28% 13.66% 12.34% 14.07% 8.52% Net interest margin (tax equivalent basis) 3.07% 2.99% 2.93% 2.75% 2.72% Efficiency ratio 67.13% 64.45% 70.06% 69.29% 70.55% As of or for the Three Months Ended September 30, June 30, March 31, December 31, September 30, Consolidated Asset Quality Ratios 2025 2025 2025 2024 2024 Nonperforming loans as a percentage of total loans 0.77% 0.79% 0.67% 0.87% 0.85% Nonperforming assets as a percentage of total assets 0.66% 0.68% 0.55% 0.71% 0.71% Allowance for credit losses as a percentage of total loans 1.06% 1.07% 1.08% 1.09% 1.07% Allowance for credit losses as a percentage of nonperforming loans 138.73% 134.88% 161.04% 124.85% 125.69% Net charge-offs to average outstanding loans 0.03% 0.02% -0.01% 0.01% 0.02% SUMMARIZED FINANCIAL INFORMATION (UNAUDITED) (CONTINUED):Three Months Ended Segmented Statements of Income InformationSeptember 30, June 30, March 31, December 31, September 30, (In thousands) 2025 2025 2025 2024 2024 Core Banking Segment: Net interest income$15,402 $15,086 $14,259 $13,756 $14,083 Provision (credit) for credit losses - loans (481) 420 (540) (745) 1,339 Provision (credit) for unfunded lending commitments (51) 32 35 (75) 78 Credit for credit losses - securities (1) (1) (1) (7) (86) Total provision (credit) for credit losses (533) 451 (506) (827) 1,331 Net interest income after provision (credit) for credit losses 15,935 14,635 14,765 14,583 12,752 Noninterest income 2,941 3,340 2,242 5,253 2,042 Noninterest expense 12,240 11,366 11,486 12,574 10,400 Income before income taxes 6,636 6,609 5,521 7,262 4,394 Income tax expense 1,447 835 452 893 301 Net income$5,189 $5,774 $5,069 $6,369 $4,093 SBA Lending Segment (Q2): Net interest income$1,728 $1,639 $1,732 $1,706 $994 Provision (credit) for credit losses - loans 864 (73) 183 255 469 Provision (credit) for unfunded lending commitments 257 45 88 121 (340) Total provision (credit) for credit losses 1,121 (28) 271 376 129 Net interest income after provision (credit) for credit losses 607 1,667 1,461 1,330 865 Noninterest income 1,718 1,180 1,318 850 800 Noninterest expense 2,388 2,327 2,212 2,369 2,242 Income (loss) before income taxes (63) 520 567 (189) (577) Income tax expense (benefit) (145) 128 137 (45) (156) Net income (loss)$82 $392 $430 $(144) $(421) SUMMARIZED FINANCIAL INFORMATION (UNAUDITED) (CONTINUED):Three Months Ended Segmented Statements of Income InformationSeptember 30, June 30, March 31, December 31, September 30, (In thousands, except percentage data) 2025 2025 2025 2024 2024 Net Income (Loss) Per Share by Segment Net income per share, basic - Core Banking$0.75 $0.84 $0.74 $0.93 $0.60 Net income (loss) per share, basic - SBA Lending (Q2) 0.01 0.06 0.06 (0.02) (0.06) Total net income per share, basic$0.76 $0.90 $0.80 $0.91 $0.54 Net Income (Loss) Per Diluted Share by Segment Net income per share, diluted - Core Banking$0.75 $0.82 $0.73 $0.91 $0.60 Net income (loss) per share, diluted - SBA Lending (Q2) 0.01 0.06 0.06 (0.02) (0.06) Total net income per share, diluted$0.76 $0.88 $0.79 $0.89 $0.53 Return on Average Assets by Segment (annualized) Core Banking 0.90% 1.01% 0.90% 1.09% 0.71% SBA Lending 0.30% 1.36% 1.58% (0.55%) (1.71%) Efficiency Ratio by Segment (annualized) Core Banking 66.73% 61.68% 69.61% 66.15% 64.50% SBA Lending 69.30% 82.55% 72.52% 92.68% 124.97% Three Months Ended Noninterest Expense Detail by SegmentSeptember 30, June 30, March 31, December 31, September 30, (In thousands) 2025 2025 2025 2024 2024 Core Banking Segment: Compensation$6,986 $6,470 $6,637 $7,245 $5,400 Occupancy 1,476 1,533 1,648 1,577 1,554 Advertising 479 437 429 338 399 Other 3,299 2,926 2,772 3,414 3,047 Total Noninterest Expense$12,240 $11,366 $11,486 $12,574 $10,400 SBA Lending Segment (Q2): Compensation$1,853 $1,914 $1,892 $1,931 $1,854 Occupancy 53 92 50 59 55 Advertising 16 17 10 14 17 Other 466 304 260 365 316 Total Noninterest Expense$2,388 $2,327 $2,212 $2,369 $2,242 SUMMARIZED FINANCIAL INFORMATION (UNAUDITED) (CONTINUED):Three Months Ended SBA Lending (Q2) DataSeptember 30, June 30, March 31, December 31, September 30, (In thousands, except percentage data) 2025 2025 2025 2024 2024 Final funded loans guaranteed portion sold, SBA$25,948 $18,019 $15,716 $10,785 $10,880 Gross gain on sales of loans, SBA$2,443 $1,548 $1,508 $1,141 $1,029 Weighted average gross gain on sales of loans, SBA 9.41% 8.59% 9.60% 10.58% 9.46% Net gain on sales of loans, SBA (2)$1,500 $932 $1,078 $711 $647 Weighted average net gain on sales of loans, SBA 5.78% 5.17% 6.86% 6.59% 5.95% (2) Inclusive of gains on servicing assets and net of commissions, referral fees, SBA repair fees and discounts on unguaranteed portions held-for-investment. SUMMARIZED FINANCIAL INFORMATION (UNAUDITED) (CONTINUED):Three Months Ended Summarized Consolidated Average Balance SheetsSeptember 30, June 30, March 31, December 31, September 30, (In thousands) 2025 2025 2025 2024 2024 Interest-earning assets Average balances: Interest-bearing deposits with banks$14,385 $15,889 $11,851 $21,102 $16,841 Loans 1,978,946 1,992,567 1,946,338 2,010,082 1,988,997 Investment securities - taxable 107,698 104,169 102,744 101,960 99,834 Investment securities - nontaxable 162,070 162,017 161,579 160,929 158,917 FRB and FHLB stock 25,299 24,993 24,986 24,986 24,986 Total interest-earning assets$2,288,398 $2,299,635 $2,247,498 $2,319,059 $2,289,575 Interest income (tax equivalent basis): Interest-bearing deposits with banks$175 $145 $168 $210 $209 Loans 29,263 29,214 27,998 29,617 29,450 Investment securities - taxable 1,000 947 921 914 910 Investment securities - nontaxable 1,732 1,733 1,719 1,715 1,685 FRB and FHLB stock 574 416 511 493 471 Total interest income (tax equivalent basis)$32,744 $32,455 $31,317 $32,949 $32,725 Weighted average yield (tax equivalent basis, annualized): Interest-bearing deposits with banks 4.87% 3.65% 5.67% 3.98% 4.96% Loans 5.91% 5.86% 5.75% 5.89% 5.92% Investment securities - taxable 3.71% 3.64% 3.59% 3.59% 3.65% Investment securities - nontaxable 4.27% 4.28% 4.26% 4.26% 4.24% FRB and FHLB stock 9.08% 6.66% 8.18% 7.89% 7.54% Total interest-earning assets 5.72% 5.65% 5.57% 5.68% 5.72% Interest-bearing liabilities Interest-bearing deposits$1,524,714 $1,537,248 $1,653,058 $1,671,156 $1,563,258 Federal Home Loan Bank borrowings 446,039 437,371 266,975 315,583 378,956 Subordinated debt and other borrowings 28,735 35,070 48,656 48,616 48,576 Total interest-bearing liabilities$1,999,488 $2,009,689 $1,968,689 $2,035,355 $1,990,790 Interest expense: Interest-bearing deposits$10,504 $10,601 $12,069 $13,606 $12,825 Federal Home Loan Bank borrowings 4,291 4,149 2,001 2,617 3,521 Subordinated debt and other borrowings 365 489 762 764 800 Total interest expense$15,160 $15,239 $14,832 $16,987 $17,146 Weighted average cost (annualized): Interest-bearing deposits 2.76% 2.76% 2.92% 3.26% 3.28% Federal Home Loan Bank borrowings 3.85% 3.79% 3.00% 3.32% 3.72% Subordinated debt and other borrowings 5.08% 5.58% 6.26% 6.29% 6.59% Total interest-bearing liabilities 3.03% 3.03% 3.01% 3.34% 3.45% Net interest income (taxable equivalent basis)$17,584 $17,216 $16,485 $15,962 $15,579 Less: taxable equivalent adjustment (454) (491) (494) (500) (502) Net interest income$17,130 $16,725 $15,991 $15,462 $15,077 Interest rate spread (tax equivalent basis, annualized) 2.69% 2.62% 2.56% 2.34% 2.27% Net interest margin (tax equivalent basis, annualized) 3.07% 2.99% 2.93% 2.75% 2.72%

First Savings Financial Group, Inc. Reports Financial Results For The Fiscal Year Ended September 30, 2025

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