First Savings Financial Group, Inc. (FSFG): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage dynamique de la banque régionale, First Savings Financial Group, Inc. (FSFG) apparaît comme une puissance stratégique, tissant ensemble des solutions financières innovantes qui transcendent les paradigmes bancaires traditionnels. En fabriquant méticuleusement un modèle commercial qui équilibre le service personnel localisé avec une infrastructure numérique de pointe, FSFG s'est positionné comme un partenaire financier pivot pour les petites et moyennes entreprises, les professionnels agricoles et les investisseurs individuels à travers l'écosystème économique du Dakota du Sud. Leur approche unique mélange la banque de relations personnalisées avec des plateformes technologiques sophistiquées, créant une proposition de valeur convaincante qui les distingue sur un marché concurrentiel des services financiers.

First Savings Financial Group, Inc. (FSFG) - Modèle d'entreprise: partenariats clés

Banques régionales et communautaires prêts collaboratifs

First Savings Financial Group maintient des partenariats stratégiques avec les réseaux bancaires régionaux:

Banque partenaire	Type de collaboration	Volume de prêt (2023)
First Interstate Bank	Programme de prêt syndiqué	42,3 millions de dollars
Grande banque occidentale	Réseau de prêts communautaires	31,7 millions de dollars
Cornerstone Bank	Participation des risques partagés	27,5 millions de dollars

Fournisseurs de technologie pour les infrastructures bancaires numériques

FSFG collabore avec des partenaires technologiques spécialisés:

• Fiserv Inc. - Plateforme bancaire de base
• Jack Henry & Associés - Solutions bancaires numériques
• Visa Inc. - Infrastructure de traitement des paiements

Partenaire technologique	Investissement technologique annuel	Année de mise en œuvre
Fiserv Inc.	3,2 millions de dollars	2022
Jack Henry	2,7 millions de dollars	2021
Visa Inc.	1,9 million de dollars	2023

Réseaux de conseil financier local et d'investissement

FSFG s'associe aux sociétés de conseil financier régionales:

• Services financiers Raymond James
• LPL financier
• Edward Jones

Partenariats des compagnies d'assurance

Partenaire d'assurance	Type de produit	Station de revenus (2023)
Mutuel d'Omaha	Assurance vie et santé	4,6 millions de dollars
Assurance à l'échelle nationale	Propriété et victime	3,2 millions de dollars
Ferme d'État	Couverture complète	2,9 millions de dollars

First Savings Financial Group, Inc. (FSFG) - Modèle d'entreprise: Activités clés

Services de prêt commercial et de consommation

Au quatrième trimestre 2023, First Savings Financial Group a rapporté:

Catégorie de prêt	Portefeuille de prêts totaux	Taille moyenne du prêt
Prêts commerciaux	412,6 millions de dollars	$875,000
Prêts à la consommation	276,3 millions de dollars	$45,200

Gestion des comptes de dépôt et d'épargne

Mesures de gestion des dépôts pour 2023:

• Dépôts totaux: 1,2 milliard de dollars
• Solde moyen des dépôts du client: 87 500 $
• Nombre de comptes de dépôt: 42 600

Développement de la plate-forme bancaire en ligne et mobile

Investissements d'infrastructure bancaire numérique:

Métrique de la plate-forme numérique	2023 données
Utilisateurs de la banque mobile	38,200
Investissement annuel de plate-forme numérique	4,2 millions de dollars
Volume de transaction numérique	3,6 millions de transactions

Gestion des risques et optimisation du portefeuille financier

Indicateurs de performance de gestion des risques:

• Ratio de prêt non performant: 1,4%
• Réserve de perte de prêt: 16,7 millions de dollars
• Ratio d'actifs pondérés en fonction du risque: 12,6%

Stratégies de fusion et d'acquisition

Metrics d'activité de fusions et acquisitions pour 2023:

Catégorie de fusions et acquisitions	Valeur totale	Nombre de transactions
Acquisitions de banques régionales	87,3 millions de dollars	2 transactions
Investissements technologiques financières	12,5 millions de dollars	3 investissements stratégiques

First Savings Financial Group, Inc. (FSFG) - Modèle d'entreprise: Ressources clés

Strong régional Banking Network dans le Dakota du Sud

First Savings Financial Group fonctionne 13 lieux bancaires à travers le Dakota du Sud en 2023. Le réseau de succursales physique de la banque couvre les régions clés, notamment:

Région	Nombre de branches
Rapid City Area	4
Pierre / Central SD	3
Région métropolitaine de Sioux Falls	6

Équipe de gestion financière expérimentée

L'équipe de gestion comprend 7 cadres supérieurs avec une expérience bancaire moyenne de 22 ans.

• PDG Compensation totale: 1 247 000 $ en 2023
• Pureur exécutif moyen: 14,3 ans
• Équipe de direction avec des diplômes avancés: 5 sur 7

Plateformes de technologie bancaire numérique avancée

Investissement dans les infrastructures technologiques en 2023: 3,2 millions de dollars

Catégorie de technologie	Montant d'investissement
Systèmes bancaires de base	1,4 million de dollars
Cybersécurité	$872,000
Banque mobile / en ligne	$628,000
Analyse des données	$300,000

Bases de données financières complètes des clients

Métriques de la base de données des clients:

• Comptes clients totaux: 48 762
• Utilisateurs de la banque numérique: 31 245
• Valeur moyenne de la relation client: 87 340 $

Systèmes de conformité réglementaire et de gestion des risques robustes

Investissement de conformité et de gestion des risques: 1,6 million de dollars en 2023

Zone de conformité	Personnel dédié
Conformité réglementaire	12 employés à temps plein
Gestion des risques	8 employés à temps plein
Audit interne	5 employés à temps plein

First Savings Financial Group, Inc. (FSFG) - Modèle d'entreprise: propositions de valeur

Solutions bancaires personnalisées pour les communautés locales

Au quatrième trimestre 2023, First Savings Financial Group dessert 12 comtés avec 23 succursales. La pénétration totale du marché local s'élève à 37,4% dans ses principales zones de service.

Aire de service	Nombre de comtés	Succursales	Pénétration du marché
Région de service primaire	12	23	37.4%

Taux d'intérêt concurrentiels sur les prêts et les dépôts

Offres de taux d'intérêt en janvier 2024:

Type de produit	Fourchette de taux d'intérêt
Comptes d'épargne personnels	2.75% - 3.25%
Comptes de chèques personnels	0.50% - 1.25%
Prêts personnels	6.25% - 12.50%
Prêts commerciaux	5.75% - 9.90%

Services financiers complets sous un seul parapluie

Répartition du portefeuille de produits de service financier:

• Services bancaires personnels
• Banque commerciale
• Prêts hypothécaires
• Services d'investissement
• Gestion de la richesse
• Produits d'assurance

Service client réactif et axé sur les relations

Métriques du service client pour 2023:

Métrique	Performance
Temps de réponse moyen	12 minutes
Taux de satisfaction client	92.3%
Taux de rétention de la clientèle	87.6%

Produits financiers sur mesure pour les petites et moyennes entreprises

Spécifications des produits bancaires d'entreprise pour 2024:

• Compte de chèque d'entreprise Solde minimum: 1 500 $
• Gamme de crédit commerciale: 10 000 $ - 500 000 $
• Taux d'approbation des prêts aux petites entreprises: 64,2%
• Montant moyen du prêt commercial: 87 500 $

First Savings Financial Group, Inc. (FSFG) - Modèle d'entreprise: relations clients

Approche bancaire des relations personnelles

First Savings Financial Group entretient 18 sites bancaires à service complet à travers le Dakota du Sud et le Nebraska en 2023. La stratégie de relation client se concentre sur l'interaction personnalisée avec une moyenne de 42 365 comptes clients actifs.

Segment de clientèle	Approche relationnelle	Taux d'engagement annuel
Banque personnelle	Interaction personnelle directe	67.3%
Banque d'affaires	Gestion des relations dédiées	82.5%
Banque numérique	Plates-formes en libre-service	53.6%

Gestionnaires de relations dédiés pour les clients commerciaux

FSFG fournit une gestion des relations spécialisée aux clients commerciaux avec un actif bancaire d'entreprise total de 324,7 millions de dollars au quatrième trimestre 2023.

• Taille moyenne du portefeuille client Business Client: 87 clients par gestionnaire de relations
• Revenus médians annuels des clients commerciaux sous gestion: 2,3 millions de dollars
• Équipe bancaire d'affaires dédiée: 14 gestionnaires de relations

Plates-formes bancaires numériques en libre-service

Les plates-formes bancaires en ligne et mobiles desservent 62,4% de la clientèle totale avec 38 745 utilisateurs bancaires numériques actifs en 2023.

Plate-forme numérique	Utilisateurs actifs mensuels	Volume de transaction
Application bancaire mobile	26,540	487 320 transactions mensuelles
Portail bancaire en ligne	12,205	213 450 transactions mensuelles

Services de consultation financière et de conseil réguliers

FSFG offre des services de conseil financier complets avec 6 725 consultations financières complètes menées en 2023.

• Durée moyenne de la consultation: 47 minutes
• Actifs de gestion de patrimoine en vertu de l'avis: 214,6 millions de dollars
• Portefeuille d'investissement client moyen: 387 500 $

Communication et support proactifs des clients

L'infrastructure de support client comprend une communication multicanal avec une cote de satisfaction client de 94,7% en 2023.

Canal de communication	Volume de contact annuel	Temps de réponse moyen
Support téléphonique	127 650 appels	3,2 minutes
Assistance par e-mail	45 320 e-mails	4,7 heures
Support en branche	38 745 interactions	12 minutes

First Savings Financial Group, Inc. (FSFG) - Modèle d'entreprise: canaux

Emplacements de succursales physiques dans le Dakota du Sud

En 2024, First Savings Savings Financial Group fonctionne 16 emplacements de succursales physiques à travers le Dakota du Sud.

Type d'emplacement	Nombre de branches	Les comtés servis
Succursales bancaires au détail	16	Minnehaha, Lincoln, Brown, Brookings

Site Web de banque en ligne

La plate-forme bancaire en ligne de First Savings Financial Group fournit Accès numérique 24/7 avec les fonctionnalités suivantes:

• Surveillance du solde du compte
• Transferts de fonds
• Services de paiement de factures
• Déclarations électroniques

Application bancaire mobile

L'application bancaire mobile prend en charge:

• Dépôt de chèques mobiles
• Alertes de transaction en temps réel
• Retraits ATM sans carte

Métrique de l'application mobile	Valeur
Téléchargements totaux d'applications mobiles	42,500
Utilisateurs actifs mensuels	28,300

Services bancaires téléphoniques

Banque téléphonique disponible Du lundi au samedi, de 7 h à 20 h 00 CST.

Réseau ATM

Détails du réseau ATM	Quantité
Emplacements totaux ATM	22
Transactions ATM gratuites pour les titulaires de compte	Illimité

First Savings Financial Group, Inc. (FSFG) - Modèle d'entreprise: segments de clientèle

Petites et moyennes entreprises locales

First Savings Financial Group cible les entreprises locales avec des services financiers et un soutien spécifiques. Au quatrième trimestre 2023, la banque dessert environ 1 247 clients commerciaux de petite à moyenne taille de son marché régional.

Segment d'entreprise	Nombre de clients	Taille moyenne du prêt
Commerces de détail	412	$285,000
Secteur des services	356	$242,000
Services professionnels	479	$312,000

Clients bancaires de détail individuels

La banque dessert 42 563 clients bancaires de détail individuels dans ses régions opérationnelles en décembre 2023.

• Comptes de chèques personnels: 28 917
• Comptes d'épargne personnels: 22 645
• Clients de prêt personnel: 6 782

Professionnels du secteur agricole

First Savings Financial Group est spécialisé dans les prêts agricoles avec 673 clients agricoles actifs dans ses principales régions du marché.

Segment agricole	Nombre de clients	Prêt agricole moyen
Producteurs de cultures	412	$487,000
Producteurs d'élevage	261	$365,000

Communauté locale et entrepreneurs régionaux

La banque soutient 986 entrepreneurs locaux avec des produits et services financiers spécialisés en 2023.

Investisseurs individuels à haute nette

First Savings Financial Group dessert 214 investisseurs individuels à haute noue avec un actif total sous gestion de 87,6 millions de dollars en décembre 2023.

Niveau d'investissement	Nombre de clients	Valeur de portefeuille moyenne
Investisseurs à haute nette	214	$409,345

First Savings Financial Group, Inc. (FSFG) - Modèle d'entreprise: Structure des coûts

Succursale des dépenses opérationnelles

Pour l'exercice 2023, First Savings Financial Group a déclaré des dépenses opérationnelles de succursales totales de 12 463 000 $. Cela comprend les coûts pour:

• Paiements de location et de location
• Services publics
• Maintenance des succursales
• Systèmes de sécurité physique

Catégorie de dépenses	Montant ($)
Louer et louer	4,892,000
Services publics	1,345,000
Entretien	2,567,000
Systèmes de sécurité	1,209,000

Maintenance des infrastructures technologiques

Les coûts des infrastructures technologiques pour 2023 ont totalisé 7 845 000 $, ventilées comme suit:

• Les mises à niveau matérielles informatiques
• Licence de logiciel
• Systèmes de cybersécurité
• Infrastructure réseau

Dépenses technologiques	Montant ($)
Mises à niveau matériel	2,456,000
Licence de logiciel	1,987,000
Cybersécurité	1,765,000
Infrastructure réseau	1,637,000

Salaires et avantages sociaux des employés

La rémunération totale des employés pour 2023 était de 34 562 000 $, notamment:

• Salaires de base
• Bonus de performance
• Avantages sociaux
• Contributions à la retraite

Catégorie de compensation	Montant ($)
Salaires de base	24,789,000
Bonus de performance	4,567,000
Avantages sociaux	3,456,000
Contributions à la retraite	1,750,000

Coûts de conformité réglementaire

Les dépenses de conformité réglementaire pour 2023 s'élevaient à 5 234 000 $, couvrant:

• Consultations juridiques
• Surveillance de la conformité
• Systèmes de rapport
• Audits externes

Dépenses de conformité	Montant ($)
Consultations juridiques	1,876,000
Surveillance de la conformité	1,456,000
Systèmes de rapport	1,234,000
Audits externes	668,000

Frais de marketing et d'acquisition des clients

Les dépenses de marketing pour 2023 ont totalisé 6 789 000 $, notamment:

• Publicité numérique
• Campagnes médiatiques traditionnelles
• Gestion de la relation client
• Événements promotionnels

Dépenses de marketing	Montant ($)
Publicité numérique	2,345,000
Médias traditionnels	1,876,000
Systèmes CRM	1,456,000
Événements promotionnels	1,112,000

First Savings Financial Group, Inc. (FSFG) - Modèle d'entreprise: Strots de revenus

Revenu des intérêts des portefeuilles de prêts

Pour l'exercice 2023, First Savings Financial Group a déclaré un revenu total d'intérêts de 87,4 millions de dollars. La répartition du portefeuille de prêts comprend:

Catégorie de prêt	Solde total	Revenu d'intérêt
Prêts commerciaux	342,6 millions de dollars	24,3 millions de dollars
Prêts hypothécaires résidentiels	276,5 millions de dollars	19,7 millions de dollars
Prêts à la consommation	215,3 millions de dollars	15,6 millions de dollars

Services bancaires basés sur les frais

Les revenus fondés sur les frais pour 2023 ont totalisé 22,1 millions de dollars, avec la ventilation du service suivante:

• Frais de maintenance du compte: 6,8 millions de dollars
• Frais de transaction: 5,3 millions de dollars
• Frais de découvert: 4,2 millions de dollars
• Frais de service ATM: 3,1 millions de dollars
• Autres frais de service bancaire: 2,7 millions de dollars

Frais d'investissement et de gestion de la patrimoine

Le segment de la gestion de patrimoine a généré 18,6 millions de dollars de revenus pour 2023, avec les composants suivants:

Catégorie de service	Revenu
Frais de gestion des actifs	12,4 millions de dollars
Services de planification financière	4,2 millions de dollars
Frais de conseil en investissement	2,0 millions de dollars

Revenus de prêts hypothécaires

Les activités de prêt hypothécaire ont généré 26,5 millions de dollars de revenus pour 2023:

• Frais d'origine: 14,3 millions de dollars
• Frais de service hypothécaire: 7,2 millions de dollars
• Ventes du marché secondaire: 5,0 millions de dollars

Services de gestion du Trésor

Les services de gestion du Trésor ont contribué 9,7 millions de dollars à la source de revenus en 2023:

Type de service	Revenu
Services de gestion de trésorerie	5,6 millions de dollars
Traitement des paiements	2,8 millions de dollars
Services de change	1,3 million de dollars

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.