First Savings Financial Group, Inc. (FSFG): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico de la banca regional, First Savings Financial Group, Inc. (FSFG) surge como una potencia estratégica, entrelazando soluciones financieras innovadoras que trascienden los paradigmas bancarios tradicionales. Al crear meticulosamente un modelo de negocio que equilibra el servicio personal localizado con infraestructura digital de vanguardia, FSFG se ha posicionado como un socio financiero fundamental para pequeñas y medianas empresas, profesionales agrícolas e inversores individuales en el ecosistema económico de Dakota del Sur. Su enfoque único combina la banca de relaciones personalizadas con plataformas tecnológicas sofisticadas, creando una propuesta de valor convincente que los distingue en un mercado competitivo de servicios financieros.

First Savings Financial Group, Inc. (FSFG) - Modelo de negocios: asociaciones clave

Préstamos colaborativos de bancos regionales y comunitarios

First Savings Financial Group mantiene asociaciones estratégicas con redes bancarias regionales:

Banco de socios	Tipo de colaboración	Volumen de préstamo (2023)
Primer banco interestatal	Programa de préstamos sindicado	$ 42.3 millones
Great Western Bank	Red de préstamos comunitarios	$ 31.7 millones
Banco de piedra angular	Participación del riesgo compartido	$ 27.5 millones

Proveedores de tecnología para infraestructura bancaria digital

FSFG colabora con socios de tecnología especializada:

• Fiserv Inc. - Plataforma bancaria central
• Jack Henry & Asociados - Soluciones de banca digital
• Visa Inc. - Infraestructura de procesamiento de pagos

Socio tecnológico	Inversión tecnológica anual	Año de implementación
Fiserv Inc.	$ 3.2 millones	2022
Jack Henry	$ 2.7 millones	2021
Visa Inc.	$ 1.9 millones	2023

Aviso financiero local y redes de inversión

FSFG se asocia con firmas de asesoramiento financiero regional:

• Servicios financieros de Raymond James
• LPL Financial
• Edward Jones

Asociaciones de la compañía de seguros

Socio	Tipo de producto	Participación de ingresos (2023)
Mutual de Omaha	Seguro de vida y salud	$ 4.6 millones
Seguro nacional	Propiedad y víctima	$ 3.2 millones
Granja estatal	Cobertura integral	$ 2.9 millones

First Savings Financial Group, Inc. (FSFG) - Modelo de negocio: actividades clave

Servicios de préstamos comerciales y de consumo

A partir del cuarto trimestre de 2023, First Savings Financial Group informó:

Categoría de préstamo	Cartera de préstamos totales	Tamaño promedio del préstamo
Préstamos comerciales	$ 412.6 millones	$875,000
Préstamos al consumo	$ 276.3 millones	$45,200

Gestión de cuentas de depósito y ahorro

Métricas de gestión de depósitos para 2023:

• Depósitos totales: $ 1.2 mil millones
• Saldo promedio de depósito del cliente: $ 87,500
• Número de cuentas de depósito: 42,600

Desarrollo de la plataforma de banca en línea y móvil

Inversiones de infraestructura bancaria digital:

Métrica de plataforma digital	2023 datos
Usuarios de banca móvil	38,200
Inversión anual de plataforma digital	$ 4.2 millones
Volumen de transacción digital	3.6 millones de transacciones

Gestión de riesgos y optimización de cartera financiera

Indicadores de rendimiento de gestión de riesgos:

• Ratio de préstamo sin rendimiento: 1.4%
• Reserva de pérdida de préstamos: $ 16.7 millones
• Relación de activos ponderados por riesgo: 12.6%

Estrategias de fusión y adquisición

Métricas de actividad de M&A para 2023:

Categoría de M&A	Valor total	Número de transacciones
Adquisiciones bancarias regionales	$ 87.3 millones	2 transacciones
Inversiones de tecnología financiera	$ 12.5 millones	3 inversiones estratégicas

First Savings Financial Group, Inc. (FSFG) - Modelo de negocio: recursos clave

Red bancaria regional fuerte en Dakota del Sur

First Savings Financial Group opera 13 ubicaciones bancarias en Dakota del Sur a partir de 2023. La red de sucursales físicas del banco cubre regiones clave que incluyen:

Región	Número de ramas
Área de la ciudad rápida	4
Pierre/Central SD	3
Área metropolitana de Sioux Falls	6

Equipo experimentado de gestión financiera

El equipo de gestión comprende 7 altos ejecutivos con una experiencia bancaria promedio de 22 años.

• CEO Compensación total: $ 1,247,000 en 2023
• Promedio de tenencia ejecutiva: 14.3 años
• Equipo de liderazgo con títulos avanzados: 5 de 7

Plataformas avanzadas de tecnología de banca digital

Inversión en infraestructura tecnológica en 2023: $ 3.2 millones

Categoría de tecnología	Monto de la inversión
Sistemas bancarios centrales	$ 1.4 millones
Ciberseguridad	$872,000
Banca móvil/en línea	$628,000
Análisis de datos	$300,000

Bases de datos financieras integrales del cliente

Métricas de la base de datos de clientes:

• Cuentas totales de clientes: 48,762
• Usuarios de banca digital: 31,245
• Valor de relación promedio al cliente: $ 87,340

Sistemas robustos de cumplimiento regulatorio y gestión de riesgos

Cumplimiento y inversión en gestión de riesgos: $ 1.6 millones en 2023

Área de cumplimiento	Personal dedicado
Cumplimiento regulatorio	12 empleados a tiempo completo
Gestión de riesgos	8 empleados a tiempo completo
Auditoría interna	5 empleados a tiempo completo

First Savings Financial Group, Inc. (FSFG) - Modelo de negocio: propuestas de valor

Soluciones bancarias personalizadas para comunidades locales

A partir del cuarto trimestre de 2023, First Savings Financial Group atiende a 12 condados con 23 ubicaciones de sucursales. La penetración total del mercado local es del 37,4% en sus áreas de servicio primarias.

Vía de Servício	Número de condados	Ubicaciones de ramas	Penetración del mercado
Región de servicio primario	12	23	37.4%

Tasas de interés competitivas sobre préstamos y depósitos

Ofertas de tasas de interés a partir de enero de 2024:

Tipo de producto	Rango de tasas de interés
Cuentas de ahorro personal	2.75% - 3.25%
Cuentas corrientes personales	0.50% - 1.25%
Préstamos personales	6.25% - 12.50%
Préstamos comerciales	5.75% - 9.90%

Servicios financieros integrales bajo un paraguas

Desglose de la cartera de productos de servicio financiero:

• Servicios bancarios personales
• Banca comercial
• Préstamo hipotecario
• Servicios de inversión
• Gestión de patrimonio
• Productos de seguro

Servicio al cliente receptivo y centrado en la relación

Métricas de servicio al cliente para 2023:

Métrico	Actuación
Tiempo de respuesta promedio	12 minutos
Tasa de satisfacción del cliente	92.3%
Tasa de retención de clientes	87.6%

Productos financieros a medida para pequeñas y medianas empresas

Detalizos de productos bancarios de negocios para 2024:

• Saldo mínimo de la cuenta corriente de negocios: $ 1,500
• Línea comercial de rango de crédito: $ 10,000 - $ 500,000
• Tasa de aprobación de préstamos para pequeñas empresas: 64.2%
• Monto promedio del préstamo comercial: $ 87,500

First Savings Financial Group, Inc. (FSFG) - Modelo de negocios: relaciones con los clientes

Enfoque bancario de relaciones personales

First Savings Financial Group mantiene 18 ubicaciones de banca de servicio completo en Dakota del Sur y Nebraska a partir de 2023. La estrategia de relación de clientes se centra en la interacción personalizada con un promedio de 42,365 cuentas de clientes activos.

Segmento de clientes	Enfoque de relación	Tasa de compromiso anual
Banca personal	Interacción personal directa	67.3%
Banca de negocios	Gestión de relaciones dedicada	82.5%
Banca digital	Plataformas de autoservicio	53.6%

Gerentes de relaciones dedicadas para clientes comerciales

FSFG ofrece una gestión de relaciones especializada para clientes comerciales con activos de banca comercial total de $ 324.7 millones a partir del cuarto trimestre de 2023.

• Tamaño promedio de la cartera de clientes comerciales: 87 clientes por gerente de relaciones
• Ingresos promedio anuales de clientes comerciales en administración: $ 2.3 millones
• Equipo de banca de negocios dedicado: 14 gerentes de relaciones

Plataformas de banca de autoservicio digital

Las plataformas de banca en línea y móvil cumplen el 62.4% de la base total de clientes con 38,745 usuarios de banca digital activa en 2023.

Plataforma digital	Usuarios activos mensuales	Volumen de transacción
Aplicación de banca móvil	26,540	487,320 transacciones mensuales
Portal bancario en línea	12,205	213,450 transacciones mensuales

Servicios regulares de consulta financiera y asesoramiento

FSFG ofrece servicios de asesoramiento financiero integrales con 6.725 consultas financieras integrales realizadas en 2023.

• Duración de consulta promedio: 47 minutos
• Activos de gestión de patrimonio bajo aviso: $ 214.6 millones
• Portafolio promedio de inversión del cliente: $ 387,500

Comunicación y soporte proactivo del cliente

La infraestructura de atención al cliente incluye comunicación multicanal con una calificación de satisfacción del cliente del 94.7% en 2023.

Canal de comunicación	Volumen de contacto anual	Tiempo de respuesta promedio
Soporte telefónico	127,650 llamadas	3.2 minutos
Soporte por correo electrónico	45,320 correos electrónicos	4.7 horas
Soporte en la rama	38,745 interacciones	12 minutos

First Savings Financial Group, Inc. (FSFG) - Modelo de negocios: canales

Ubicaciones de ramas físicas en Dakota del Sur

A partir de 2024, First Savings Financial Group opera 16 ubicaciones de ramas físicas en Dakota del Sur.

Tipo de ubicación	Número de ramas	Condados atendidos
Ramas de banca minorista	16	Minnehaha, Lincoln, Brown, Brookings

Sitio web de banca en línea

La plataforma bancaria en línea de First Savings Financial Group proporciona Acceso digital 24/7 Con las siguientes características:

• Monitoreo del saldo de la cuenta
• Transferencias de fondos
• Servicios de pago de facturas
• Declaraciones electrónicas

Aplicación de banca móvil

La aplicación bancaria móvil admite:

• Depósito de cheque móvil
• Alertas de transacciones en tiempo real
• Retiros de cajero automático sin tarjeta

Módulo de aplicación móvil	Valor
Descargas totales de aplicaciones móviles	42,500
Usuarios activos mensuales	28,300

Servicios de banca telefónica

Banca telefónica disponible De lunes a sábado de 7 am a 8 pm CST.

Red de cajeros automáticos

Detalles de la red de cajeros automáticos	Cantidad
Ubicaciones de cajeros automáticos totales	22
Transacciones de cajeros automáticos gratuitos para titulares de cuentas	Ilimitado

First Savings Financial Group, Inc. (FSFG) - Modelo de negocios: segmentos de clientes

Empresas locales pequeñas a medianas

First Savings Financial Group se dirige a las empresas locales con servicios financieros y apoyo específicos. A partir del cuarto trimestre de 2023, el banco atiende a aproximadamente 1,247 clientes comerciales pequeños a medianos en su mercado regional.

Segmento de negocios	Número de clientes	Tamaño promedio del préstamo
Negocios minoristas	412	$285,000
Sector de servicios	356	$242,000
Servicios profesionales	479	$312,000

Clientes de banca minorista individual

El banco atiende a 42,563 clientes de banca minorista individual en sus regiones operativas a diciembre de 2023.

• Cuentas corrientes personales: 28,917
• Cuentas de ahorro personal: 22,645
• Clientes de préstamos personales: 6,782

Profesionales del sector agrícola

First Savings Financial Group se especializa en préstamos agrícolas con 673 clientes agrícolas activos en sus principales regiones de mercado.

Segmento agrícola	Número de clientes	Préstamo agrícola promedio
Agricultores	412	$487,000
Productores de ganado	261	$365,000

Comunidad local y empresarios regionales

El banco apoya a 986 empresarios locales con productos y servicios financieros especializados en 2023.

Inversores individuales de alto nivel de red

First Savings Financial Group atiende a 214 inversores individuales de alto valor de la red con activos totales bajo una administración de $ 87.6 millones a diciembre de 2023.

Nivel de inversión	Número de clientes	Valor de cartera promedio
Inversores de alto nivel de red	214	$409,345

First Savings Financial Group, Inc. (FSFG) - Modelo de negocio: Estructura de costos

Gastos operativos de rama

Para el año fiscal 2023, First Savings Financial Group informó gastos operativos totales de sucursales de $ 12,463,000. Esto incluye costos para:

• Pagos de alquiler y arrendamiento
• Utilidades
• Mantenimiento de ramas
• Sistemas de seguridad física

Categoría de gastos	Monto ($)
Alquiler y arrendamientos	4,892,000
Utilidades	1,345,000
Mantenimiento	2,567,000
Sistemas de seguridad	1,209,000

Mantenimiento de la infraestructura tecnológica

Los costos de infraestructura tecnológica para 2023 totalizaron $ 7,845,000, desglosados ​​de la siguiente manera:

• Actualizaciones de hardware
• Licencia de software
• Sistemas de ciberseguridad
• Infraestructura de red

Gasto tecnológico	Monto ($)
Actualizaciones de hardware	2,456,000
Licencia de software	1,987,000
Ciberseguridad	1,765,000
Infraestructura de red	1,637,000

Salarios y beneficios de los empleados

La compensación total de los empleados para 2023 fue de $ 34,562,000, que incluye:

• Salarios base
• Bonos de rendimiento
• Beneficios de atención médica
• Contribuciones de jubilación

Categoría de compensación	Monto ($)
Salarios base	24,789,000
Bonos de rendimiento	4,567,000
Beneficios de atención médica	3,456,000
Contribuciones de jubilación	1,750,000

Costos de cumplimiento regulatorio

Los gastos de cumplimiento regulatorio para 2023 ascendieron a $ 5,234,000, cubriendo:

• Consultas legales
• Monitoreo de cumplimiento
• Sistemas de informes
• Auditorías externas

Gasto de cumplimiento	Monto ($)
Consultas legales	1,876,000
Monitoreo de cumplimiento	1,456,000
Sistemas de informes	1,234,000
Auditorías externas	668,000

Gastos de marketing y adquisición de clientes

Los gastos de marketing para 2023 totalizaron $ 6,789,000, que incluyen:

• Publicidad digital
• Campañas de medios tradicionales
• Gestión de la relación con el cliente
• Eventos promocionales

Gasto de marketing	Monto ($)
Publicidad digital	2,345,000
Medios tradicionales	1,876,000
Sistemas CRM	1,456,000
Eventos promocionales	1,112,000

First Savings Financial Group, Inc. (FSFG) - Modelo de negocios: flujos de ingresos

Ingresos por intereses de las carteras de préstamos

Para el año fiscal 2023, First Savings Financial Group reportó ingresos por intereses totales de $ 87.4 millones. El desglose de la cartera de préstamos incluye:

Categoría de préstamo	Saldo total	Ingresos por intereses
Préstamos comerciales	$ 342.6 millones	$ 24.3 millones
Préstamos hipotecarios residenciales	$ 276.5 millones	$ 19.7 millones
Préstamos al consumo	$ 215.3 millones	$ 15.6 millones

Servicios bancarios basados ​​en tarifas

Los ingresos basados ​​en tarifas para 2023 totalizaron $ 22.1 millones, con el siguiente desglose del servicio:

• Tarifas de mantenimiento de la cuenta: $ 6.8 millones
• Tarifas de transacción: $ 5.3 millones
• Tarifas de sobregiro: $ 4.2 millones
• Tarifas de servicio de cajeros automáticos: $ 3.1 millones
• Otras tarifas de servicio bancario: $ 2.7 millones

Tarifas de gestión de inversión y patrimonio

El segmento de gestión de patrimonio generó $ 18.6 millones en ingresos para 2023, con los siguientes componentes:

Categoría de servicio	Ganancia
Tarifas de gestión de activos	$ 12.4 millones
Servicios de planificación financiera	$ 4.2 millones
Tarifas de asesoramiento de inversiones	$ 2.0 millones

Ingresos de préstamos hipotecarios

Las actividades de préstamos hipotecarios generaron $ 26.5 millones en ingresos para 2023:

• Tarifas de origen: $ 14.3 millones
• Tarifas de servicios hipotecarios: $ 7.2 millones
• Ventas de mercado secundario: $ 5.0 millones

Servicios de gestión del tesoro

Treasury Management Services contribuyó con $ 9.7 millones al flujo de ingresos en 2023:

Tipo de servicio	Ganancia
Servicios de gestión de efectivo	$ 5.6 millones
Procesamiento de pagos	$ 2.8 millones
Servicios de divisas	$ 1.3 millones

First Savings Financial Group, Inc. (FSFG) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose First Savings Financial Group, Inc. (FSFG) over competitors. It boils down to a dual offering: deep local roots combined with specialized, far-reaching lending capabilities, all backed by recent, impressive profitability.

Community bank focus with personalized relationship banking

First Savings Financial Group, Inc. operates as an entrepreneurial community bank, which means the value proposition centers on local trust and direct service. The organization's stated vision is, 'We Expect To Be The BEST community BANK.' The physical footprint supports this local commitment, with First Savings Bank operating fifteen depository branches within Southern Indiana as of late 2025.

This local presence supports relationship banking, where decisions are made close to the customer. The core banking segment demonstrated strong profitability, reporting GAAP net income of $6.37M for the first fiscal quarter of 2025.

Specialized national lending for SBA and single-tenant net lease CRE

A key differentiator for First Savings Financial Group, Inc. is its two national lending programs, which extend its reach beyond Southern Indiana. These programs focus on SBA lending and single-tenant net lease commercial real estate (CRE). This national focus diversifies the credit risk profile, as the NNN Finance Program, for example, targets loans secured by properties leased to investment grade national-brand retailers, with collateral outside the primary market area.

While the SBA segment faced headwinds, reporting a segment net loss of $0.14M in Q1 FY2025, the overall loan portfolio quality showed improvement, with nonperforming loans decreasing to $14.6 million at September 30, 2025, down from $16.9 million the prior year.

Strong financial performance with a FY2025 net profit margin of 27.1%

The financial results as of late 2025 strongly support the value proposition of operational efficiency and profitability. The reported net profit margin for the trailing twelve months ending September 2025 reached 27.1%, more than double the prior year's 12.7%. This level places First Savings Financial Group, Inc. well ahead of typical sector averages for US banks. This strong margin performance accompanied a staggering twelve-month Earnings Per Share (EPS) growth of 135.1%. The total assets for First Savings Financial Group, Inc. stood at $2.40 billion as of September 30, 2025.

Here's a quick look at the financial strength underpinning these value propositions:

Metric	Value (as of late 2025/FY2025)	Context
Net Profit Margin (TTM)	27.1%	Surged from 12.7% in the prior period.
Total Assets	$2.40 billion	As of September 30, 2025.
12-Month EPS Growth	135.1%	Sharp turnaround from a 5-year annual decline of 28.3%.
Shares Outstanding	6,976,558	As of August 2, 2025.

Full suite of consumer and business financial services

First Savings Financial Group, Inc. offers a comprehensive range of services beyond its specialized lending. The bank provides various deposit products, loans, and digital banking solutions to individuals and businesses. The loan portfolio includes offerings such as:

• One- to four-family residential loans.
• Commercial real estate loans (fixed-rate, up to five-year terms).
• Multi-family mortgage loans.
• Residential and commercial construction loans.
• Consumer loans.

Local decision-making combined with national lending expertise

The structure explicitly combines local service with national reach. The Bank is headquartered in Jeffersonville, Indiana, and operates its fifteen branches locally, yet its two national lending programs-SBA and single-tenant net lease CRE-have offices located predominately in the Midwest. This structure allows for local relationship management while tapping into specialized, potentially higher-yield, or geographically diversified national credit opportunities. The SBA lending program, for instance, has specific internal approval committees, showing structured expertise for that national product.

Finance: draft 13-week cash view by Friday.

First Savings Financial Group, Inc. (FSFG) - Canvas Business Model: Customer Relationships

First Savings Financial Group, Inc. structures its customer relationships around a core of community-focused, personalized service, which it blends with technology to serve both local and national clients. The relationship banking model is central to its operations, particularly within its primary market area of South Central Indiana, where it focuses on small businesses and consumers by emphasizing local decision-making and community involvement. Lenders remain heavily involved throughout the banking relationship, ensuring lending decisions are made locally, which supports the goal of fostering long-term relationships built on trust and reliability.

For its national reach, First Savings Financial Group, Inc. maintains two distinct lending programs: single-tenant net lease commercial real estate and SBA lending. The SBA Lending segment has proven its operational success, posting its third consecutive profitable quarter for the fiscal year ended September 30, 2025. Furthermore, the bank is actively supporting Small and Medium Businesses (SMBs) nationwide with financing needs ranging from $25,000 up to $5,000,000, leveraging a Fintech-First Model to streamline the application process.

The commitment to dedicated personnel is evident across its lending divisions. For mortgage services, First Savings Financial Group, Inc. promotes a Dedicated Mortgage Team to provide personalized service. In the SBA space, the Chief SBA Lending Officer is a named figure, John Handmaker, indicating a high level of executive focus on this relationship channel. The bank also ensures regulatory transparency by maintaining a public listing of its NMLS Registered Loan Originators, updated as of December 1, 2025, showing a structured approach to its lending personnel.

The high-touch, in-person service component is anchored by its physical footprint. As of the June 30, 2025 reporting period, First Savings Bank operated 16 banking center locations in southern Indiana, though the latest dividend announcement referenced fifteen depository branches within Southern Indiana as of December 1, 2025. This physical presence supports the relationship model, as banking professionals live and work in the communities they serve. This face-to-face option remains valued, with general 2025 statistics indicating that 71% of consumers still say in-person access is important.

Balancing the high-touch service is a suite of self-service digital options. First Savings Financial Group, Inc. offers PC Express® Internet Banking and a supplemental Mobile Banking service, providing 24/7 account access. Key digital capabilities include:

• View balances and transaction history.
• Transfer funds between accounts.
• Use Online Bill Pay and set up recurring payments.
• Make deposits remotely via Mobile Deposit.
• Set up mobile text alerts for low balance reminders.

This digital investment aligns with broader market trends where a significant majority of consumers, 77 percent in 2025 surveys, prefer managing accounts through a mobile app or computer, and 82% consider online banking important.

The scale of the customer base and its financial activity as of late 2025 provides context for these relationship efforts. As of June 30, 2025, First Savings Bank held total assets of $2.4 billion, total loans of $1.9 billion, and total deposits of $1.7 billion. Furthermore, customer deposits saw a significant increase of $118.2 million since September 2024, suggesting successful deposit gathering efforts across both relationship and digital channels.

Relationship Metric/Channel	Data Point	Date/Context
Depository Branch Locations	15 to 16	As of June 30, 2025 / December 1, 2025
National Lending Programs	Two (SBA and Single-Tenant Net Lease CRE)	As of FYE September 30, 2025
SMB/SBA Financing Range	$25,000 to $5,000,000	Business lending support
Total Customer Deposits	$1.7 billion	As of June 30, 2025
Deposit Growth	$118.2 million increase	Since September 2024 (FYE Sept 30, 2025)
Digital Banking Preference (Industry)	77 percent prefer mobile app or computer	2025 General Statistic
Importance of In-Person Access (Industry)	71% say in-person access is important	2025 General Statistic

First Savings Financial Group, Inc. (FSFG) - Canvas Business Model: Channels

You're looking at how First Savings Financial Group, Inc. (FSFG) gets its value proposition-personalized community banking mixed with specialized lending-to its customers right before the planned merger with First Merchants Corporation. The Channels block here is a blend of traditional brick-and-mortar presence and targeted, non-local lending operations.

The core of the physical delivery network remains deeply rooted in its primary market. As of the third quarter of 2025, First Savings Financial Group, Inc. operated a physical network consisting of 16 banking centers, all situated in southern Indiana, with its headquarters in Jeffersonville, Indiana. This local footprint is key for deposit gathering and relationship-based consumer lending within that specific geographic area.

Complementing the physical locations is the necessary digital layer. First Savings Financial Group, Inc. supports its customer base with a digital banking platform, which includes both online and mobile access. This platform allows for standard functions like account management, fund transfers, and remote check deposits, helping to extend reach beyond the physical branch hours and locations. While the platform is described as robust, specific late-2025 metrics on digital adoption rates or transaction volume aren't publicly itemized in the latest reports.

The growth engine for First Savings Financial Group, Inc. is clearly its specialized lending, which uses a distinct channel strategy. The company maintains National Loan Production Offices (LPOs) for its two primary national lending programs: single-tenant net lease commercial real estate and SBA lending. These offices are located predominately in the Midwest, allowing First Savings Financial Group, Inc. to originate loans outside its core southern Indiana deposit market. This dual-channel approach-local deposits funding both local and national loans-is a defining feature of their strategy, especially given the strong performance of the SBA Lending segment, which contributed to a fiscal year 2025 net income of $23.2 million.

The direct sales force is intrinsically linked to these specialized lending channels. While the exact headcount isn't public, the success of the SBA Lending segment implies a dedicated direct sales force focused on originating these commercial and government-guaranteed loans. This sales effort is crucial for driving loan growth, which stood at $1.9 billion in total loans as of June 30, 2025, against total assets of $2.4 billion.

Here's a quick look at the scale of the operation feeding these channels as of the end of Q3 FY2025:

Channel/Metric Category	Specific Data Point	Value as of June 30, 2025
Physical Branch Network	Banking Centers in Southern Indiana	16
Lending Footprint	LPO Office Concentration	Predominately in the Midwest
Balance Sheet Context	Total Assets	$2.4 billion
Balance Sheet Context	Total Deposits	$1.7 billion
Performance Context	FY 2025 Net Interest Margin (Tax-Equivalent)	2.94%

The reliance on LPOs and a direct sales force for commercial business means that a significant portion of the loan origination channel operates remotely from the core branch network. This structure supports the reported tax-equivalent net interest margin enhancement to 2.94% for FY 2025, up from 2.68% the prior year. The channels are clearly segmented: local branches for core retail/deposit services, and specialized, geographically dispersed lending offices for higher-yield commercial products.

The digital platform serves as a necessary utility layer across both segments, helping to maintain operational efficiency, which is reflected in the surging net profit margin to 27.1% for the period, more than double the prior year's 12.7%. The effectiveness of these channels is what drove the FY 2025 diluted EPS to $3.32.

You should keep a close eye on how the integration with First Merchants Bank, expected in Q1 2026, will immediately alter this channel map, as the combined entity will have 127 branches across Indiana, Michigan, and Ohio.

Finance: draft the integration plan's impact on the current FSFG channel structure by next Tuesday.

First Savings Financial Group, Inc. (FSFG) - Canvas Business Model: Customer Segments

Consumers and households in southern Indiana (Louisville MSA)

First Savings Financial Group, Inc. (FSFG) serves individuals and families primarily within its local market footprint.

• Headquarters location: Jeffersonville, Indiana, directly across the Ohio River from Louisville, Kentucky.
• Depository branch network: Operates fifteen depository branches within Southern Indiana.
• Primary residential mortgage origination area includes Clark, Floyd, Harrison, Crawford, Washington, and Daviess Counties in Indiana.

The scale of the institution serving this segment as of June 30, 2025, included total assets of $2.42 billion and total deposits of $1.7 billion.

Small to medium-sized businesses (SMBs) in the local market

First Savings Financial Group, Inc. emphasizes serving small businesses within its primary market area, focusing on relationship banking.

• Lending activities include commercial business loans.
• The core banking segment reported net income of $17.2 million for the nine months ended June 30, 2025.

National clients seeking SBA loans and single-tenant net lease financing

First Savings Financial Group, Inc. maintains two national lending programs targeting specific non-local clients.

• National lending programs: Single-tenant net lease commercial real estate and SBA lending.
• SBA Lending segment posted its third consecutive profitable quarter for the fiscal year ended September 30, 2025.
• Net gain on sale of SBA loans increased by $1.2 million for the fiscal year ended September 30, 2025.
• Net recoveries related to unguaranteed portions of SBA loans totaled $164,000 for the six months ended March 31, 2025.

Real estate investors and developers (residential and commercial)

This segment is served through significant concentrations in real estate-backed lending.

Here's a quick look at the loan portfolio composition as a proxy for this segment focus, based on data from September 30, 2024:

Loan Category	Percentage of Total Loans (as of 9/30/2024)
Commercial Real Estate Loans	51.0%
Residential Mortgage Loans (primarily one- to four-family)	33.8%

The bank also originates residential and commercial construction loans, and land and land development loans.

• Net gain on sales of home equity lines of credit (HELOC) was $4.0 million for the fiscal year ended September 30, 2025.
• Approximately $87.2 million of HELOCs were sold in a bulk sale during the six months ended March 31, 2025.

First Savings Financial Group, Inc. (FSFG) - Canvas Business Model: Cost Structure

The Cost Structure for First Savings Financial Group, Inc. (FSFG) in late 2025 is heavily influenced by funding costs, strategic restructuring, and the ongoing operational footprint.

Significant interest expense on deposits and borrowings remains a core cost driver, though management has shown success in moderating it recently. For the three months ended September 30, 2025, interest expense decreased by $2.0 million compared to the same period in 2024, contributing to a net interest income increase. However, for the six months ended March 31, 2025, interest expense had increased by $1.6 million year-over-year, showing the volatility in funding costs across the fiscal year.

Personnel costs reflected the strategic shift away from the national mortgage banking operation. In the first fiscal quarter of 2025 (Q1 FY2025, period ended December 31, 2024), noninterest expense fell by $1.10 million year-over-year, which included a lower compensation expense of -$487k. To be fair, compensation and benefits did show an increase of +$0.94 million year-over-year for the second fiscal quarter ended March 31, 2025, primarily due to higher bonus and incentive accruals in that later period.

The cost to maintain the physical and digital presence is a fixed component of the structure. This covers Occupancy and technology expenses for 16 branches and digital channels. In Q1 FY2025, occupancy expense saw a year-over-year decrease of $405k following the mortgage exit. For the six months ended March 31, 2025, occupancy and equipment expenses decreased by $380,000 compared to the prior year period.

The financial reporting for the year ended September 30, 2025, explicitly excluded certain one-time charges, highlighting the impact of merger-related expenses impacting FY2025 net income. Net income for the year was reported both on a GAAP basis and a non-GAAP basis, which excluded expenses related to the announced and pending merger with First Merchants Corporation.

The cost associated with managing credit risk is itemized, including the Provision for credit losses, which was $452,000 for unfunded commitments in FY2025. This was the provision recognized for the entire year ended September 30, 2025. This compares to a reversal of provision for unfunded lending commitments of $421,000 for the same period in 2024.

Here's a quick look at some of the reported year-over-year noninterest expense changes from Q1 FY2025:

Expense Category	Q1 FY2025 YoY Change
Total Noninterest Expense	Decreased by $1.10 million
Compensation	Lower by $487,000
Occupancy	Lower by $405,000
Professional Fees	Lower by $385,000

The operational efficiency is also measured by the efficiency ratio. For Q1 FY2025, the efficiency ratio improved to 69.29% from 94.93% year-over-year, showing better cost control relative to core banking revenue.

You should note the following key components that make up the cost base:

• Interest expense on deposits and borrowings.
• Personnel costs, with recent reductions following the mortgage exit.
• Fixed costs for 16 physical branches and digital infrastructure.
• Provisions for credit losses, including $452,000 for unfunded commitments in FY2025.
• Non-recurring merger-related expenses excluded from core earnings metrics.

First Savings Financial Group, Inc. (FSFG) - Canvas Business Model: Revenue Streams

You're looking at how First Savings Financial Group, Inc. (FSFG) brings in the money, which is heavily weighted toward traditional banking activities but is strategically shifting to boost noninterest income. The revenue picture for fiscal year 2025 (FY2025), which ended September 30, 2025, shows a clear focus on core lending profitability alongside new fee-based income initiatives.

The primary driver remains the spread between what First Savings Financial Group, Inc. (FSFG) earns on its assets and what it pays for its liabilities. Net Interest Income (NII) from its loan and investment portfolios totaled $65.3 million for the year ended September 30, 2025. This was a significant increase, rising 12.5% compared to the same period in 2024, driven by a $5.5 million increase in interest income and a $1.7 million decrease in interest expense. Honestly, that margin expansion is what's really moving the needle on core earnings power.

The strategic pivot in 2025 involved enhancing Noninterest income from loan sales, specifically by transitioning the first-lien Home Equity Line of Credit (HELOC) business to an originate-for-sale model. This is a deliberate move to enhance noninterest income and free up capital. The execution of this strategy was immediately visible in the first quarter of FY2025, where a bulk sale of first-lien HELOCs generated a net gain of $2.49 million for the quarter ended December 31, 2024.

For the full fiscal year 2025, total noninterest income increased by $6.3 million compared to the prior year, reflecting the success of these sales initiatives and fee growth. This total noninterest income is composed of several key elements:

• Net gain on sales of HELOC in 2025: $4.0 million.
• Increase in net gain on sale of SBA loans: $1.2 million.
• Increase in ATM and interchange fees: $374,000.
• Increase in service charges on deposits: $277,000.

The revenue streams from fees and charges are also a component of this noninterest income. While the specific total for loan origination and servicing fees isn't isolated, the growth in net gain on sales of SBA loans ($1.2 million increase for FY2025) suggests ongoing activity in that area. Similarly, service charges and fees on deposit accounts contributed an increase of $277,000 to the full-year noninterest income.

Here's a quick look at how the key components of noninterest income contributed to the overall increase for the full fiscal year 2025:

Revenue Component	FY2025 Year-over-Year Increase Amount
Net Gain on Sales of HELOC	$4.0 million
Increase in Net Gain on Sale of SBA Loans	$1.2 million
Increase in ATM and Interchange Fees	$374,000
Increase in Service Charges on Deposits	$277,000

To be fair, the Q1 FY2025 results showed a slightly different mix for the quarter's growth, with a $929,000 net gain on HELOC sales and an $853,000 net gain on SBA loan sales contributing to the quarterly noninterest income increase of $1.8 million. The full-year data, however, gives you the better picture of the year's total revenue generation from these activities.

Finance: draft 13-week cash view by Friday.