First Savings Financial Group, Inc. Reports Financial Results for the Third Fiscal Quarter Ended June 30, 2025

JEFFERSONVILLE, Ind., July 24, 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 $6.2 million, or $0.88 per diluted share, for the quarter ended June 30, 2025, compared to net income of $4.1 million, or $0.60 per diluted share, for the quarter ended June 30, 2024. Excluding nonrecurring items, the Company reported net income of $5.7 million (non-GAAP measure)(1) and net income per diluted share of $0.81 (non-GAAP measure)(1) for the quarter ended June 30, 2025 compared to $3.5 million, or $0.52 per diluted share for the quarter ended June 30, 2024. Commenting on the Company’s performance, Larry W. Myers, President and CEO, stated “We are pleased with the third fiscal quarter performance, including the continued improvement in the net interest margin, which has increased 32 basis points from June of 2024 to June of 2025, solid growth in deposits, expense containment, and meaningful efficiency ratio improvement. The SBA Lending segment posted its second consecutive profitable quarter, which included a solid level of loans originations and sales. Additionally, the SBA Lending pipeline for the fourth fiscal quarter remains robust. We are optimistic regarding the remainder of fiscal 2025 as we anticipate further expansion of the net interest margin, continued profitability from the SBA Lending segment, additional sales of home equity lines of credit, and stable and strong asset quality. We will continue our focus on customer deposit growth, select loan growth opportunities, preservation of asset quality, and prudent capital and liquidity management. We will also continue to evaluate options and strategies that we believe will maximize shareholder value.” (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 Three Months Ended June 30, 2025 and 2024 Net interest income increased $2.2 million, or 15.1%, to $16.7 million for the three months ended June 30, 2025 as compared to the same period in 2024. The tax equivalent net interest margin for the three months ended June 30, 2025 was 2.99% as compared to 2.67% for the same period in 2024. The increase in net interest income was due to an increase of $871,000 in interest income and a decrease of $1.3 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 $347,000 and $77,000, respectively, and a reversal of provision for credit losses on securities of $1,000 for the three months ended June 30, 2025, compared to a provision for credit losses for loans, unfunded lending commitments and securities of $501,000, $158,000 and $84,000, respectively, for the same period in 2024. The Company recognized $309,000 in net charge-offs recognized during the three months ended June 30, 2025, of which $216,000 was related to unguaranteed portions of SBA loans. During the three months ended June 30, 2024, the Company recognized net charge-offs of $105,000, of which $49,000 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 $1.7 million from $16.9 million at September 30, 2024 to $15.2 million at June 30, 2025. Noninterest income increased $1.3 million for the three months ended June 30, 2025 as compared to the same period in 2024. The increase was due primarily to increases in other income and net gain on sales of SBA loans of $565,000 and $351,000, respectively, and net gain on sales of home equity lines of credit (“HELOC”) of $617,000, partially offset by a $404,000 decrease in net unrealized gains on equity securities. The increase in other income was primarily due to a $487,000 gain recognized in connection with a lease termination. The was no gain on sales of HELOC in the 2024 period as the sale of this product commenced in fiscal 2025. Noninterest expense increased $1.3 million for the three months ended June 30, 2025 as compared to the same period in 2024. The increase was due primarily to an increase in compensation and benefits of $904,000, which was due to routine salary increases and increases in bonus and incentive accruals in 2025 related to stronger Company performance. The Company recognized income tax expense of $963,000 for the three months ended June 30, 2025 compared to $483,000 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 13.5% compared to 10.6% for 2024. The effective tax rate is well 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 Nine Months Ended June 30, 2025 and 2024 The Company reported net income of $17.9 million, or $2.57 per diluted share, for the nine months ended June 30, 2025 compared to net income of $9.9 million, or $1.45 per diluted share, for the nine months ended June 30, 2024. Excluding nonrecurring items, the Company reported net income of $15.1 million (non-GAAP measure)(1) and net income per diluted share of $2.16 (non-GAAP measure)(1) for the nine months ended June 30, 2025 compared to net income of $9.4 million and net income per diluted share of $1.37 for the nine months ended June 30, 2024. The core banking segment reported net income of $17.2 million, or $2.46 per diluted share for the nine months ended June 30, 2025 compared to net income of $13.3 million and net income per diluted share of $1.92 for the nine months ended June 30, 2024. Excluding nonrecurring items, the core banking segment reported net income of $14.4 million (non-GAAP measure)(1), or $2.05 per diluted share (non-GAAP measure)(1) for the nine months ended June 30, 2025 compared to net income of $12.9 million and net income per diluted share of $1.89 for the nine months ended June 30, 2024. Net interest income increased $5.2 million, or 12.1%, to $48.2 million for the nine months ended June 30, 2025 as compared to the same period in 2024. The tax equivalent net interest margin for the nine months ended June 30, 2025 was 2.89% as compared to 2.67% for the same period in 2024. The increase in net interest income was due to a $5.5 million increase in interest income, partially offset by a $279,000 increase 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 reversal of provision for credit losses for loans and securities of $501,000 and $8,000, respectively, and a provision for unfunded lending commitments of $246,000 for the nine months ended June 30, 2025, compared to a provision for credit losses for loans and securities of $1.7 million and $107,000, respectively, and reversal of provision for unfunded lending commitments of $159,000 for the same period in 2024. The reversal of provisions during the 2025 period was due primarily to the bulk sale of approximately $87.2 million of HELOC during the period and a decrease in qualitative reserves. The Company recognized net charge-offs totaling $271,000 for the nine months ended June 30, 2025, of which $52,000 was related to unguaranteed portions of SBA loans, compared to net charge-offs of $224,000 in 2024, of which $15,000 was related to unguaranteed portions of SBA loans. Noninterest income increased $4.5 million for the nine months ended June 30, 2025 as compared to the same period in 2024. The increase was due primarily to a $3.1 million net gain on sales of HELOC, a $403,000 net gain on sales of equity securities in 2025, and the aforementioned $487,000 gain recognized in connection with a lease termination in the 2025 period with no corresponding gain amounts for the 2024 period. Noninterest expense increased $2.1 million for the nine months ended June 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 $1.4 million and $1.1 million, respectively, partially offset by a decrease in professional fees of $412,000. The increase in compensation and benefits is primarily due to routine salary increases and increases in bonus and incentive accruals in 2025 related to stronger Company performance. The increase in other operating expenses was due primarily to a $721,000 reversal of accrued loss contingencies for SBA-guaranteed loans in the 2024 period with no corresponding amount for the 2025 period and a $405,000 accrued contingent liability associated with employee benefits recognized in the 2025 period with no corresponding amount in the 2024 period. The decrease in professional fees is primarily due to the cessation of national mortgage banking operations in the quarter ended December 31, 2023. The Company recognized income tax expense of $2.4 million for the nine months ended June 30, 2025 compared to $873,000 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 11.8% compared to 8.1%. The effective tax rate is well 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 June 30, 2025 and September 30, 2024 Total assets decreased $33.7 million, from $2.45 billion at September 30, 2024 to $2.42 billion at June 30, 2025. Net loans held for investment decreased $68.0 million during the nine months ended June 30, 2025, due primarily to $109.1 million of sales of HELOC during the nine months ended June 30, 2025, and residential mortgage loans held for sale increased $42.1 million during the same period. Total liabilities decreased $40.4 million due primarily to a decrease in total deposits and other borrowings of $144.7 and $19.9 million, respectively, partially offset by an increase in FHLB borrowings of $133.3 million. The decrease in total deposits was due to a decrease in brokered deposits of $229.1 million, which was due primarily to proceeds from the aforementioned sales of HELOC and greater utilization of FHLB borrowings, partially offset by an increase in customer deposits of $84.4 million. The decrease in other borrowings is due to the redemption of $20.0 million of subordinated notes during the quarter ended June 30, 2023. As of June 30, 2025, deposits exceeding the FDIC insurance limit of $250,000 per insured account were 35.0% of total deposits and 14.3% of total deposits when excluding public funds insured by the Indiana Public Deposit Insurance Fund. Total stockholders’ equity increased $6.7 million, from $177.1 million at September 30, 2024 to $183.8 million at June 30, 2025, due primarily to a $14.6 million increase in retained net income, partially offset by a $8.9 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 nine months ended June 30, 2025, which resulted in a decrease in the fair value of securities available for sale. At June 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 Officer812-283-0724 FIRST SAVINGS FINANCIAL GROUP, INC.CONSOLIDATED FINANCIAL HIGHLIGHTS(Unaudited) Three Months Ended Nine Months Ended OPERATING DATA:June 30, June 30, (In thousands, except share and per share data) 2025 2024 2025 2024 Total interest income$31,965 $31,094 $95,237 $89,765 Total interest expense 15,240 16,560 47,059 46,780 Net interest income 16,725 14,534 48,178 42,985 Provision (credit) for credit losses - loans 347 501 (501) 1,684 Provision (credit) for unfunded lending commitments 77 158 246 (159) Provision (credit) for credit losses - securities (1) 84 (8) 107 Total provision (credit) for credit losses 423 743 (263) 1,632 Net interest income after provision (credit) for credit losses 16,302 13,791 48,441 41,353 Total noninterest income 4,520 3,196 14,183 9,688 Total noninterest expense 13,693 12,431 42,334 40,248 Income before income taxes 7,129 4,556 20,290 10,793 Income tax expense 963 483 2,400 873 Net income$6,166 $4,073 $17,890 $9,920 Net income per share, basic$0.90 $0.60 $2.60 $1.45 Weighted average shares outstanding, basic 6,881,077 6,832,452 6,867,734 6,829,490 Net income per share, diluted$0.88 $0.60 $2.57 $1.45 Weighted average shares outstanding, diluted 6,977,674 6,834,784 6,967,742 6,851,145 Performance ratios (annualized) Return on average assets 1.02% 0.69% 0.99% 0.57% Return on average equity 13.66% 9.86% 13.32% 8.23% Return on average common stockholders' equity 13.66% 9.86% 13.32% 8.23% Net interest margin (tax equivalent basis) 2.99% 2.67% 2.89% 2.67% Efficiency ratio 64.45% 70.11% 67.89% 76.41% QTD FYTDFINANCIAL CONDITION DATA:June 30, March 31, Increase September 30, Increase(In thousands, except per share data) 2025 2025 (Decrease) 2024 (Decrease) Total assets$2,416,675 $2,376,230 $40,445 $2,450,368 $(33,693)Cash and cash equivalents 52,123 28,683 23,440 52,142 (19)Investment securities 244,284 244,084 200 249,719 (5,435)Loans held for sale 60,970 61,239 (269) 25,716 35,254 Gross loans 1,916,343 1,900,660 15,683 1,985,146 (68,803)Allowance for credit losses 20,522 20,484 38 21,294 (772)Interest earning assets 2,260,099 2,219,504 40,595 2,277,512 (17,413)Goodwill 9,848 9,848 - 9,848 - Core deposit intangibles 275 316 (41) 398 (123)Noninterest-bearing deposits 202,649 185,252 17,397 191,528 11,121 Interest-bearing deposits (customer) 1,253,525 1,207,159 46,366 1,180,196 73,329 Interest-bearing deposits (brokered) 280,020 396,770 (116,750) 509,157 (229,137)Federal Home Loan Bank borrowings 434,924 325,310 109,614 301,640 133,284 Subordinated debt and other borrowings 28,722 48,682 (19,960) 48,603 (19,881)Total liabilities 2,232,853 2,197,041 35,812 2,273,253 (40,400)Accumulated other comprehensive loss (20,061) (19,385) (676) (11,195) (8,866)Total stockholders' equity 183,822 179,189 4,633 177,115 6,707 Book value per share$26.35 $25.90 0.45 $25.72 0.63 Tangible book value per share (non-GAAP) (1) 24.90 24.43 0.47 24.23 0.67 Non-performing assets: Nonaccrual loans - SBA guaranteed$2,713 $123 $2,590 $5,036 $(2,323)Nonaccrual loans 12,502 12,597 (95) 11,906 596 Total nonaccrual loans$15,215 $12,720 $2,495 $16,942 $(1,727)Accruing loans past due 90 days - - - - - Total non-performing loans 15,215 12,720 2,495 16,942 (1,727)Foreclosed real estate 1,113 444 669 444 669 Total non-performing assets$16,328 $13,164 $3,164 $17,386 $(1,058) Asset quality ratios: Allowance for credit losses as a percent of total gross loans 1.07% 1.08% (0.01%) 1.07% (0.00%)Allowance for credit losses as a percent of nonperforming loans 134.88% 161.04% (26.16%) 125.69% 9.19%Nonperforming loans as a percent of total gross loans 0.79% 0.67% 0.12% 0.85% (0.06%)Nonperforming assets as a percent of total assets 0.68% 0.55% 0.13% 0.71% (0.03%) (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 Income June 30, June 30, (In thousands) 2025 2024 2025 2024 Net income attributable to the Company (non-GAAP)$5,691 $3,534 $15,057 $9,381 Plus: Gain on bulk sale of loans, home equity lines of credit, net of tax effect - - 1,869 - Plus: Gain on life insurance, net of tax effect 110 - 110 - Plus: Gain on lease termination, net of tax effect 365 - 365 - Plus: Gain on sale of equity securities, net of tax effect - - 302 - Plus: Decrease in loss contingency for SBA-guaranteed loans, net of tax effect - 212 - 212 Plus: Gain on sale of premises and equipment, net of tax effect - - 186 - Plus: Recording of Visa Class C shares, net of tax - 327 - 327 Net income attributable to the Company (GAAP)$6,166 $4,073 $17,890 $9,920 Net Income per Share, Diluted Net income per share attributable to the Company, diluted (non-GAAP)$0.81 $0.52 $2.16 $1.37 Plus: Gain on bulk sale of loans, home equity lines of credit, net of tax effect - - 0.27 - Plus: Gain on life insurance, net of tax effect 0.02 - 0.02 - Plus: Gain on lease termination, net of tax effect 0.05 - 0.05 - Plus: Gain on sale of equity securities, net of tax effect - - 0.04 - Plus: Decrease in loss contingency for SBA-guaranteed loans, net of tax effect - 0.03 - 0.03 Plus: Gain on sale of premises and equipment, net of tax effect - - 0.03 - Plus: Recording of Visa Class C shares, net of tax - 0.05 - 0.05 Net income per share, diluted (GAAP)$0.88 $0.60 $2.57 $1.45 Core Bank Segment Net Income (In thousands) Net income attributable to the Core Bank (non-GAAP)$5,299 $4,176 $14,379 $12,947 Plus: Gain on bulk sale of loans, home equity lines of credit, net of tax effect - - 1,869 - Plus: Gain on life insurance, net of tax effect 110 - 110 - Plus: Gain on lease termination, net of tax effect 365 - 365 - Plus: Gain on sale of equity securities, net of tax effect - - 302 - Plus: Gain on sale of premises and equipment, net of tax effect - - 186 - Plus: Recording of Visa Class C shares, net of tax - 327 - 327 Net income attributable to the Core Bank (GAAP)$5,774 $4,503 $17,212 $13,274 Core Bank Segment Net Income per Share, Diluted Core Bank net income per share, diluted (non-GAAP)$0.75 $0.64 $2.05 $1.89 Plus: Gain on bulk sale of loans, home equity lines of credit, net of tax effect - - 0.27 - Plus: Gain on life insurance, net of tax effect 0.02 - 0.02 - Plus: Gain on lease termination, net of tax effect 0.05 - 0.05 - Plus: Gain on sale of equity securities, net of tax effect - - 0.04 - Plus: Gain on sale of premises and equipment, net of tax effect - - - 0.03 Plus: Recording of Visa Class C shares, net of tax - 0.05 0.03 - Core Bank net income per share, diluted (GAAP)$0.82 $0.69 $2.46 $1.92 RECONCILIATION OF GAAP AND NON-GAAP FINANCIAL MEASURES (UNAUDITED) (CONTINUED):Three Months Ended Fiscal Year Ended Efficiency RatioJune 30, June 30, (In thousands) 2025 2024 2025 2024 Net interest income (GAAP)$16,725 $14,534 $48,178 $42,985 Noninterest income (GAAP) 4,520 3,196 14,183 9,688 Noninterest expense (GAAP) 13,693 12,431 42,334 40,248 Efficiency ratio (GAAP) 64.45% 70.11% 67.89% 76.41% Noninterest income (GAAP)$4,520 $3,196 $14,183 $9,688 Less: Gain on bulk sale of loans, home equity lines of credit - - (2,492) - Less: Gain on life insurance (147) - (147) - Less: Gain on lease termination (487) - (487) - Less: Gain on sale of equity securities - - (403) - Less: Gain on sale of premises and equipment - - (140) - Less: Recording of Visa Class C shares - (245) - (245) Noninterest income (Non-GAAP) 3,886 2,951 10,515 9,443 Noninterest expense (GAAP)$13,693 $12,431 $42,334 $40,248 Plus: Decrease in loss contingency for SBA-guaranteed loans - 283 - 283 Noninterest expense (Non-GAAP)$13,693 $12,714 $42,334 $40,531 Efficiency ratio (excluding nonrecurring items) (non-GAAP) 66.44% 72.71% 72.13% 77.31% QTD FYTDTangible Book Value Per ShareJune 30, March 31, Increase September 30, Increase(In thousands, except share and per share data) 2025 2025 (Decrease) 2024 (Decrease) Stockholders' equity (GAAP)$183,822 $179,189 $4,633 $177,115 $6,707 Less: goodwill and core deposit intangibles (10,123) (10,164) 41 (10,246) 123 Tangible stockholders' equity (non-GAAP)$173,699 $169,025 $4,674 $166,869 $6,830 Outstanding common shares 6,976,558 6,919,136 $57,422 6,887,106 $89,452 Tangible book value per share (non-GAAP)$24.90 $24.43 $0.47 $24.23 $0.67 Book value per share (GAAP)$26.35 $25.90 $0.45 $25.72 $0.63 SUMMARIZED FINANCIAL INFORMATION (UNAUDITED):As ofSummarized Consolidated Balance SheetsJune 30, March 31, December 31, September 30, June 30,(In thousands, except per share data) 2025 2025 2024 2024 2024 Total cash and cash equivalents$52,123 $28,683 $76,224 $52,142 $42,423 Total investment securities 244,284 244,084 242,634 249,719 238,785 Total loans held for sale 60,970 61,239 24,441 25,716 125,859 Total loans, net of allowance for credit losses 1,895,821 1,880,176 1,884,514 1,963,852 1,826,980 Loan servicing rights 2,869 2,744 2,661 2,754 2,860 Total assets 2,416,675 2,376,230 2,388,735 2,450,368 2,393,491 Customer deposits$1,456,174 $1,392,411 $1,395,766 $1,371,724 $1,312,997 Brokered deposits 280,020 396,770 437,008 509,157 399,151 Total deposits 1,736,194 1,789,181 1,832,774 1,880,881 1,712,148 Federal Home Loan Bank borrowings 434,924 325,310 295,000 301,640 425,000 Common stock and additional paid-in capital$30,090 $28,650 $28,382 $27,725 $27,592 Retained earnings - substantially restricted 187,969 182,918 178,526 173,337 170,688 Accumulated other comprehensive loss (20,061) (19,385) (17,789) (11,195) (17,415)Unearned stock compensation (2,005) (862) (973) (901) (999)Less treasury stock, at cost (12,171) (12,132) (12,119) (11,851) (11,866)Total stockholders' equity 183,822 179,189 176,027 177,115 168,000 Outstanding common shares 6,976,558 6,919,136 6,909,173 6,887,106 6,883,656 Three Months EndedSummarized Consolidated Statements of IncomeJune 30, March 31, December 31, September 30, June 30,(In thousands, except per share data) 2025 2025 2024 2024 2024 Total interest income$31,965 $30,823 $32,449 $32,223 $31,094 Total interest expense 15,240 14,832 16,987 17,146 16,560 Net interest income 16,725 15,991 15,462 15,077 14,534 Provision (credit) for credit losses - loans 347 (357) (491) 1,808 501 Provision (credit) for unfunded lending commitments 77 123 46 (262) 158 Provision (credit) for credit losses - securities (1) (1) (6) (86) 84 Total provision (credit) for credit losses 423 (235) (451) 1,460 743 Net interest income after provision for credit losses 16,302 16,226 15,913 13,617 13,791 Total noninterest income 4,520 3,560 6,103 2,842 3,196 Total noninterest expense 13,693 13,698 14,943 12,642 12,431 Income before income taxes 7,129 6,088 7,073 3,817 4,556 Income tax expense (benefit) 963 589 848 145 483 Net income 6,166 5,499 6,225 3,672 4,073 Net income per share, basic$0.90 $0.80 $0.91 $0.54 $0.60 Weighted average shares outstanding, basic 6,881,077 6,875,826 6,851,153 6,832,626 6,832,452 Net income per share, diluted$0.88 $0.79 $0.89 $0.53 $0.60 Weighted average shares outstanding, diluted 6,977,674 6,960,020 6,969,223 6,894,532 6,842,336 SUMMARIZED FINANCIAL INFORMATION (UNAUDITED) (CONTINUED):Three Months EndedNoninterest Income DetailJune 30, March 31, December 31, September 30, June 30,(In thousands) 2025 2025 2024 2024 2024 Service charges on deposit accounts$537 $541 $567 $552 $538 ATM and interchange fees 648 632 665 642 593 Net unrealized gain on equity securities 15 47 78 28 419 Net gain on equity securities - - 403 - - Net gain on sales of loans, Small Business Administration 932 1,078 711 647 581 Net gain on sales of loans, home equity lines of credit 617 - 2,492 - - Mortgage banking income 96 104 78 6 49 Increase in cash surrender value of life insurance 358 380 361 363 353 Gain on life insurance 147 - 108 - - Commission income 184 255 210 294 220 Real estate lease income 132 122 121 122 154 Net gain (loss) on premises and equipment - - 45 (4) - Other income 854 401 264 192 289 Total noninterest income$4,520 $3,560 $6,103 $2,842 $3,196 Three Months Ended June 30, March 31, December 31, September 30, June 30,Consolidated Performance Ratios (Annualized) 2025 2025 2024 2024 2024 Return on average assets 1.02% 0.93% 1.02% 0.61% 0.69%Return on average equity 13.66% 12.24% 14.07% 8.52% 9.86%Return on average common stockholders' equity 13.66% 12.34% 14.07% 8.52% 9.86%Net interest margin (tax equivalent basis) 2.99% 2.93% 2.75% 2.72% 2.67%Efficiency ratio 64.45% 70.06% 69.29% 70.55% 70.11% As of or for the Three Months Ended June 30, March 31, December 31, September 30, June 30,Consolidated Asset Quality Ratios 2025 2025 2024 2024 2024 Nonperforming loans as a percentage of total loans 0.79% 0.67% 0.87% 0.85% 0.91%Nonperforming assets as a percentage of total assets 0.68% 0.55% 0.71% 0.71% 0.72%Allowance for credit losses as a percentage of total loans 1.07% 1.08% 1.09% 1.07% 1.07%Allowance for credit losses as a percentage of nonperforming loans 134.88% 161.04% 124.85% 125.69% 118.12%Net charge-offs to average outstanding loans 0.02% -0.01% 0.01% 0.02% 0.01% SUMMARIZED FINANCIAL INFORMATION (UNAUDITED) (CONTINUED):Three Months EndedSegmented Statements of Income InformationJune 30, March 31, December 31, September 30, June 30,(In thousands) 2025 2025 2024 2024 2024 Core Banking Segment: Net interest income$15,086 $14,259 $13,756 $14,083 $13,590 Provision (credit) for credit losses - loans 420 (540) (745) 1,339 320 Provision (credit) for unfunded lending commitments 32 35 (75) 78 64 Provision (credit) for credit losses - securities (1) (1) (7) (86) 84 Total provision (credit) for credit losses 451 (506) (827) 1,331 468 Net interest income after provision (credit) for credit losses 14,635 14,765 14,583 12,752 13,122 Noninterest income 3,340 2,242 5,253 2,042 2,474 Noninterest expense 11,366 11,486 12,574 10,400 10,192 Income before income taxes 6,609 5,521 7,262 4,394 5,404 Income tax expense 835 452 893 301 689 Net income$5,774 $5,069 $6,369 $4,093 $4,715 SBA Lending Segment (Q2): Net interest income$1,639 $1,732 $1,706 $994 $944 Provision (credit) for credit losses - loans (73) 183 255 469 181 Provision (credit) for unfunded lending commitments 45 88 121 (340) 94 Total provision (credit) for credit losses (28) 271 376 129 275 Net interest income after provision for credit losses 1,667 1,461 1,330 865 669 Noninterest income 1,180 1,318 850 800 722 Noninterest expense 2,327 2,212 2,369 2,242 2,239 Income (loss) before income taxes 520 567 (189) (577) (848)Income tax expense (benefit) 128 137 (45) (156) (206)Net income (loss)$392 $430 $(144) $(421) $(642) SUMMARIZED FINANCIAL INFORMATION (UNAUDITED) (CONTINUED):Three Months EndedSegmented Statements of Income InformationJune 30, March 31, December 31, September 30, June 30,(In thousands, except percentage data) 2025 2025 2024 2024 2024 Net Income (Loss) Per Share by Segment Net income per share, basic - Core Banking$0.84 $0.74 $0.93 $0.60 $0.69 Net income (loss) per share, basic - SBA Lending (Q2) 0.06 0.06 (0.02) (0.06) (0.09)Total net income (loss) per share, basic$0.90 $0.80 $0.91 $0.54 $0.60 Net Income (Loss) Per Diluted Share by Segment Net income per share, diluted - Core Banking$0.82 $0.73 $0.91 $0.59 $0.69 Net income (loss) per share, diluted - SBA Lending (Q2) 0.06 0.06 (0.02) (0.06) (0.09)Total net income per share, diluted$0.88 $0.79 $0.89 $0.53 $0.60 Return on Average Assets by Segment (annualized) (3) Core Banking 1.01% 0.90% 1.09% 0.71% 0.83%SBA Lending 1.36% 1.58% (0.55%) (1.71%) (2.91%) Efficiency Ratio by Segment (annualized) (3) Core Banking 61.68% 69.61% 66.15% 64.50% 63.45%SBA Lending 82.55% 72.52% 92.68% 124.97% 134.39% Three Months EndedNoninterest Expense Detail by SegmentJune 30, March 31, December 31, September 30, June 30,(In thousands) 2025 2025 2024 2024 2024 Core Banking Segment: Compensation$6,470 $6,637 $7,245 $5,400 $5,587 Occupancy 1,533 1,648 1,577 1,554 1,573 Advertising 437 429 338 399 253 Other 2,926 2,772 3,414 3,047 2,779 Total Noninterest Expense$11,366 $11,486 $12,574 $10,400 $10,192 SBA Lending Segment (Q2): Compensation$1,914 $1,892 $1,931 $1,854 $1,893 Occupancy 92 50 59 55 51 Advertising 17 10 14 17 12 Other 304 260 365 316 283 Total Noninterest Expense$2,327 $2,212 $2,369 $2,242 $2,239 SUMMARIZED FINANCIAL INFORMATION (UNAUDITED) (CONTINUED):Three Months EndedSBA Lending (Q2) DataJune 30, March 31, December 31, September 30, June 30,(In thousands, except percentage data) 2025 2025 2024 2024 2024 Final funded loans guaranteed portion sold, SBA$18,019 $15,716 $10,785 $10,880 $7,515 Gross gain on sales of loans, SBA$1,548 $1,508 $1,141 $1,029 $811 Weighted average gross gain on sales of loans, SBA 8.59% 9.60% 10.58% 9.46% 10.79% Net gain on sales of loans, SBA (2)$932 $1,078 $711 $647 $581 Weighted average net gain on sales of loans, SBA 5.17% 6.86% 6.59% 5.95% 7.73% (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 EndedSummarized Consolidated Average Balance SheetsJune 30, March 31, December 31, September 30, June 30,(In thousands) 2025 2025 2024 2024 2024 Interest-earning assets Average balances: Interest-bearing deposits with banks$15,889 $11,851 $21,102 $16,841 $26,100 Loans 1,992,567 1,946,338 2,010,082 1,988,997 1,943,716 Investment securities - taxable 104,169 102,744 101,960 99,834 101,350 Investment securities - nontaxable 162,017 161,579 160,929 158,917 157,991 FRB and FHLB stock 24,993 24,986 24,986 24,986 24,986 Total interest-earning assets$2,299,635 $2,247,498 $2,319,059 $2,289,575 $2,254,143 Interest income (tax equivalent basis): Interest-bearing deposits with banks$145 $168 $210 $209 $324 Loans 29,214 27,998 29,617 29,450 28,155 Investment securities - taxable 947 921 914 910 918 Investment securities - nontaxable 1,733 1,719 1,715 1,685 1,665 FRB and FHLB stock 416 511 493 471 519 Total interest income (tax equivalent basis)$32,455 $31,317 $32,949 $32,725 $31,581 Weighted average yield (tax equivalent basis, annualized): Interest-bearing deposits with banks 3.65% 5.67% 3.98% 4.96% 4.97%Loans 5.86% 5.75% 5.89% 5.92% 5.79%Investment securities - taxable 3.64% 3.59% 3.59% 3.65% 3.62%Investment securities - nontaxable 4.28% 4.26% 4.26% 4.24% 4.22%FRB and FHLB stock 6.66% 8.18% 7.89% 7.54% 8.31%Total interest-earning assets 5.65% 5.57% 5.68% 5.72% 5.60% Interest-bearing liabilities Interest-bearing deposits$1,537,248 $1,653,058 $1,671,156 $1,563,258 $1,572,871 Federal Home Loan Bank borrowings 437,371 266,975 315,583 378,956 351,227 Subordinated debt and other borrowings 35,070 48,656 48,616 48,576 48,537 Total interest-bearing liabilities$2,009,689 $1,968,689 $2,035,355 $1,990,790 $1,972,635 Interest expense: Interest-bearing deposits$10,601 $12,069 $13,606 $12,825 $12,740 Federal Home Loan Bank borrowings 4,149 2,001 2,617 3,521 3,021 Subordinated debt and other borrowings 489 762 764 800 799 Total interest expense$15,239 $14,832 $16,987 $17,146 $16,560 Weighted average cost (annualized): Interest-bearing deposits 2.76% 2.92% 3.26% 3.28% 3.24%Federal Home Loan Bank borrowings 3.79% 3.00% 3.32% 3.72% 3.44%Subordinated debt and other borrowings 5.58% 6.26% 6.29% 6.59% 6.58%Total interest-bearing liabilities 3.03% 3.01% 3.34% 3.45% 3.36% Net interest income (taxable equivalent basis)$17,216 $16,485 $15,962 $15,579 $15,021 Less: taxable equivalent adjustment (491) (494) (500) (502) (487)Net interest income$16,725 $15,991 $15,462 $15,077 $14,534 Interest rate spread (tax equivalent basis, annualized) 2.62% 2.56% 2.34% 2.27% 2.24% Net interest margin (tax equivalent basis, annualized) 2.99% 2.93% 2.75% 2.72% 2.67%

First Savings Financial Group, Inc. Reports Financial Results for the Third Fiscal Quarter Ended June 30, 2025

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