First Savings Financial Group, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2017; Announces Net Charge-Offs for the First Quarter Ended December 31, 2017
January 26, 2018 at 05:00 pm EST
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First Savings Financial Group, Inc. announced unaudited consolidated earnings results for the first quarter ended December 31, 2017. For the quarter, the company announced total interest income of $9,426,000 compared to $8,011,000 for the same period a year ago. Net interest income was $8,053,000 compared to $6,989,000 for the same period a year ago. Income before income taxes was $4,115,000 compared to $3,018,000 for the same period a year ago. Net income attributable to the company was $3,406,000 compared to $2,337,000 for the same period a year ago. Net income per share, diluted was $1.44 compared to $1.00 for the same period a year ago. Return on average assets was 1.49% compared to 1.15% for the same period a year ago. Return on average equity was 14.58% compared to 10.85% for the same period a year ago. Book value per share was $42.34 and tangible book value per share was $38.54.
For the first quarter ended December 31, 2017, the company recognized net charge-offs of $43,000 as compared to $9,000 for the same period in 2016.
First Savings Financial Group, Inc. is a holding company for First Savings Bank (the Bank). The Companyâs principal business activity is the ownership of the outstanding common stock of First Savings Bank. Its segments include core banking, Small Business Administration (SBA) lending, and mortgage banking. The core banking segment originates residential, commercial and consumer loans and attracts deposits from its customer base. The SBA lending segment originates loans guaranteed by the SBA, subsequently selling the guaranteed portion to outside investors. The mortgage banking segment originates residential mortgage loans and sells them in the secondary market. The Bank operates as a community-oriented financial institution, which offers traditional financial services to consumers and businesses in its primary market area. The Company provides a variety of banking services to individual and business customers through approximately 16 locations in southern Indiana.
First Savings Financial Group, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2017; Announces Net Charge-Offs for the First Quarter Ended December 31, 2017