First Savings Financial Group, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2014; Reports Net Charge-Offs for the Quarter Ended December 31, 2014
January 30, 2015 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, 2014. The company reported net income and net income available to common shareholders of $1.2 million, or $0.52 per diluted share, for the quarter ended December 31, 2014 compared to net income and net income available to common shareholders of $1.0 million, or $0.44 per diluted share, for the quarter ended December 31, 2013. Net interest income after provision for loan losses increased $360,000 for the quarter ended December 31, 2014 as compared to the same period in 2013. Net interest income was $6,078,000 against $5,812,000 a year ago. Income before income taxes was $1,608,000 against $1,451,000 a year ago. Return on average assets was 0.67% against 0.61% a year ago. Return on average equity was 5.41% against 4.95% a year ago. Return on average common stockholders' equity was 6.71% against 6.23% a year ago. Book value per common share was $33.08 against $32.21 as at September 30, 2014. Tangible book value per common share was $28.71 against $27.76 as at September 30, 2014.
Net charge-offs were $7,000 for the quarter ended December 31, 2014 compared to net recoveries of $132,000 for the same period in 2013.
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, 2014; Reports Net Charge-Offs for the Quarter Ended December 31, 2014