Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related


           Audit Report or Completed Interim Review.

On January 27, 2023, the Audit Committee of the Board of Directors of First Savings Financial Group, Inc. (the "Company") concluded that the Company's audited consolidated financial statements, and related notes, included in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2022, should no longer be relied upon. The accounting matters underlying the Audit Committee's conclusion primarily relate to the following:

a. An overstatement of other assets due to a capitalized consulting fee paid


    during fiscal 2022 for the evaluation of core operating systems and
    negotiation of the contract for such. The fee amount earned by the consultant
    was based on a percentage of savings that the Company is expected to recognize
    over the life of the newly negotiated core contract in comparison to the cost
    of its existing core contract over the same period. The Company recorded the
    amount as a prepaid consulting fee to be amortized over the life of the new
    core contract beginning in late fiscal 2023. However, under accounting
    principles generally accepted in the United States of America ("U.S. GAAP"),
    the amount is required to be expensed in the period incurred since no future
    services of the consultant are required under the agreement between the
    Company and consultant subsequent to the execution of the new core contract.

b. An understatement of gross loans related to approximately $38.0 million in


    sold commercial loan participation interests, which did not qualify for sales
    treatment under U.S. GAAP as of September 30, 2022 due to repurchase
    provisions included in certain participation agreements. As a result, the
    transfers should have been accounted for as secured borrowings.

c. The consolidated financial statements will also be restated to correct smaller


    differences primarily related to deferred compensation and accrued litigation
    expenses, as well as the income tax impact of the adjustments.

The Company intends to file an Annual Report on Form 10-K/A for the fiscal year ended September 30, 2022, which will include the Company's restated audited consolidated financial statements, and related notes, for the fiscal year ended September 30, 2022, on or about February 6, 2023. The Company expects the restated consolidated financial statements to disclose the following restated amounts for the fiscal year ended September 30, 2022:

(In thousands, except per share data) Reported Restated Loans, net of allowance for loan losses $1,436,555 $1,474,544 Other borrowings

$50,217    $88,206
Total assets                            $2,057,662 $2,093,725
Total liabilities                       $1,905,039 $1,942,160
Total stockholders' equity              $152,623   $151,565

Net income attributable to the Company $16,444 $15,386 Net income per share, basic

$2.33      $2.18
Net income per share, diluted           $2.30      $2.15

As previously disclosed in the Company's Current Report on Form 8-K filed on December 5, 2022, Monroe Shine & Co., Inc. served as the Company's independent registered public accounting firm for the fiscal year ended September 30, 2022 and FORVIS, LLP serves as the Company's independent registered public accounting firm for the fiscal year ending September 30, 2023. The Company's Audit Committee discussed the matters disclosed pursuant to this Item 4.02 with both firms.

Item 9.01. Financial Statements and Exhibits.






 (d) Exhibits

104 Cover Page Interactive Data File (embedded within Inline XBRL document)

This Current Report on Form 8-K contains forward-looking statements within the meaning of the federal securities laws. These statements are not historical facts, but are statements based on the Company's current expectations. Forward-looking statements are preceded by terms such as "expects," "intends" and similar expressions. Because of the risks and uncertainties inherent in forward-looking statements, readers are cautioned not to place undue reliance on them. Except as may be required by applicable law or regulation, the Company assumes no obligation to update any forward-looking statements.

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