First Savings Financial Group, Inc. (FSFG): Modelo de negócios Canvas [Jan-2025 Atualizado]

No cenário dinâmico do setor bancário regional, o First Savings Financial Group, Inc. (FSFG) surge como uma potência estratégica, tecendo soluções financeiras inovadoras que transcendem os paradigmas bancários tradicionais. Ao elaborar meticulosamente um modelo de negócios que equilibra o serviço pessoal localizado com a infraestrutura digital de ponta, o FSFG se posicionou como um parceiro financeiro fundamental para pequenos e médias empresas, profissionais agrícolas e investidores individuais em todo o ecossistema econômico de Dakota do Sul. Sua abordagem única combina o banco de relacionamento personalizado com plataformas tecnológicas sofisticadas, criando uma proposta de valor convincente que as diferencia em um mercado de serviços financeiros competitivos.

First Savings Financial Group, Inc. (FSFG) - Modelo de negócios: Parcerias -chave

Bancos regionais e comunitários empréstimos colaborativos

O First Savings Financial Group mantém parcerias estratégicas com redes bancárias regionais:

Banco Parceiro	Tipo de colaboração	Volume de empréstimos (2023)
Primeiro banco interestadual	Programa de empréstimo sindicado	US $ 42,3 milhões
Great Western Bank	Rede de empréstimos comunitários	US $ 31,7 milhões
Cornerstone Bank	Participação de risco compartilhado	US $ 27,5 milhões

Provedores de tecnologia para infraestrutura bancária digital

O FSFG colabora com parceiros de tecnologia especializados:

• Fiserv Inc. - Core Banking Platform
• Jack Henry & Associados - soluções bancárias digitais
• Visa Inc. - Infraestrutura de processamento de pagamento

Parceiro de tecnologia	Investimento de tecnologia anual	Ano de implementação
Fiserv Inc.	US $ 3,2 milhões	2022
Jack Henry	US $ 2,7 milhões	2021
Visa Inc.	US $ 1,9 milhão	2023

Consultoria financeira local e redes de investimentos

A FSFG faz parceria com empresas de consultoria financeira regional:

• Raymond James Financial Services
• LPL Financial
• Edward Jones

Parcerias da companhia de seguros

Parceiro de seguro	Tipo de produto	Participação de receita (2023)
Mutual de Omaha	Seguro de Vida e Saúde	US $ 4,6 milhões
Seguro nacional	Propriedade e vítima	US $ 3,2 milhões
State Farm	Cobertura abrangente	US $ 2,9 milhões

First Savings Financial Group, Inc. (FSFG) - Modelo de negócios: Atividades -chave

Serviços de empréstimos comerciais e de consumo

A partir do quarto trimestre 2023, o First Savings Financial Group informou:

Categoria de empréstimo	Portfólio total de empréstimos	Tamanho médio do empréstimo
Empréstimos comerciais	US $ 412,6 milhões	$875,000
Empréstimos ao consumidor	US $ 276,3 milhões	$45,200

Gerenciamento de contas de depósito e poupança

Métricas de gerenciamento de depósitos para 2023:

• Total de depósitos: US $ 1,2 bilhão
• Saldo médio de depósito de cliente: US $ 87.500
• Número de contas de depósito: 42.600

Desenvolvimento de plataforma bancária online e móvel

Investimentos de infraestrutura bancária digital:

Métrica da plataforma digital	2023 dados
Usuários bancários móveis	38,200
Investimento anual da plataforma digital	US $ 4,2 milhões
Volume de transação digital	3,6 milhões de transações

Gerenciamento de riscos e otimização de portfólio financeiro

Indicadores de desempenho do gerenciamento de riscos:

• Taxa de empréstimo sem desempenho: 1,4%
• Reserva de perda de empréstimo: US $ 16,7 milhões
• Razão de ativo ponderado por risco: 12,6%

Estratégias de fusão e aquisição

Métricas de Atividade de M&A para 2023:

Categoria M&A	Valor total	Número de transações
Aquisições bancárias regionais	US $ 87,3 milhões	2 transações
Investimentos em tecnologia financeira	US $ 12,5 milhões	3 investimentos estratégicos

First Savings Financial Group, Inc. (FSFG) - Modelo de negócios: Recursos -chave

Forte rede bancária regional em Dakota do Sul

Primeira poupança o Grupo Financeiro opera 13 locais bancários em Dakota do Sul a partir de 2023. A rede de agências físicas do banco abrange as principais regiões, incluindo:

Região	Número de ramificações
Área da cidade rápida	4
Pierre/Central SD	3
Sioux Falls Metropolitan Area	6

Equipe de gestão financeira experiente

A equipe de gerenciamento compreende 7 executivos seniores com uma experiência bancária média de 22 anos.

• Compensação total do CEO: US $ 1.247.000 em 2023
• PRODIÇÃO EXECUTIVO Média: 14,3 anos
• Equipe de liderança com diplomas avançados: 5 em 7

Plataformas avançadas de tecnologia bancária digital

Investimento de infraestrutura de tecnologia em 2023: US $ 3,2 milhões

Categoria de tecnologia	Valor do investimento
Sistemas bancários principais	US $ 1,4 milhão
Segurança cibernética	$872,000
Banco móvel/online	$628,000
Análise de dados	$300,000

Bancos de dados financeiros de clientes abrangentes

Métricas de banco de dados de clientes:

• Total de contas de clientes: 48.762
• Usuários do Banco Digital: 31.245
• Valor médio do relacionamento do cliente: US $ 87.340

Sistemas robustos de conformidade regulatória e gerenciamento de riscos

Investimento de conformidade e gerenciamento de riscos: US $ 1,6 milhão em 2023

Área de conformidade	Funcionários dedicados
Conformidade regulatória	12 funcionários em tempo integral
Gerenciamento de riscos	8 funcionários em tempo integral
Auditoria interna	5 funcionários em tempo integral

First Savings Financial Group, Inc. (FSFG) - Modelo de negócios: proposições de valor

Soluções bancárias personalizadas para comunidades locais

A partir do quarto trimestre 2023, o First Savings Financial Group atende 12 municípios com 23 locais de filiais. A penetração total do mercado local é de 37,4% em suas áreas de serviço primárias.

Área de serviço	Número de condados	Locais da filial	Penetração de mercado
Região de serviço primário	12	23	37.4%

Taxas de juros competitivas em empréstimos e depósitos

Ofertas de taxa de juros em janeiro de 2024:

Tipo de produto	Intervalo de taxa de juros
Contas de poupança pessoal	2.75% - 3.25%
Contas de corrente pessoal	0.50% - 1.25%
Empréstimos pessoais	6.25% - 12.50%
Empréstimos comerciais	5.75% - 9.90%

Serviços financeiros abrangentes sob um guarda -chuva

Financeiro portfólio de produtos de serviço financeiro Aparelho:

• Serviços bancários pessoais
• Bancos comerciais
• Empréstimos hipotecários
• Serviços de investimento
• Gestão de patrimônio
• Produtos de seguro

Atendimento ao cliente responsivo e focado no relacionamento

Métricas de atendimento ao cliente para 2023:

Métrica	Desempenho
Tempo médio de resposta	12 minutos
Taxa de satisfação do cliente	92.3%
Taxa de retenção de clientes	87.6%

Produtos financeiros personalizados para pequenas e médias empresas

Especificos de produtos bancários de negócios para 2024:

• Conta de verificação de negócios saldo mínimo: US $ 1.500
• Linha de negócios da faixa de crédito: US $ 10.000 - US $ 500.000
• Taxa de aprovação de empréstimos para pequenas empresas: 64,2%
• Valor médio de empréstimo comercial: US $ 87.500

First Savings Financial Group, Inc. (FSFG) - Modelo de negócios: Relacionamentos do cliente

Abordagem bancária de relacionamento pessoal

O First Savings Financial Group mantém 18 locais bancários de serviço completo em Dakota do Sul e Nebraska a partir de 2023. A estratégia de relacionamento com o cliente se concentra na interação personalizada, com uma média de 42.365 contas de clientes ativos.

Segmento de clientes	Abordagem de relacionamento	Taxa de engajamento anual
Bancos pessoais	Interação pessoal direta	67.3%
Banking de negócios	Gerenciamento de relacionamento dedicado	82.5%
Banco digital	Plataformas de autoatendimento	53.6%

Gerentes de relacionamento dedicados para clientes de negócios

O FSFG fornece gerenciamento especializado de relacionamento para clientes comerciais com ativos bancários de negócios totais de US $ 324,7 milhões a partir do quarto trimestre de 2023.

• Tamanho médio do portfólio de clientes de negócios: 87 clientes por gerente de relacionamento
• Receita mediana do cliente comercial anual sob gerenciamento: US $ 2,3 milhões
• Equipe dedicada ao banco de negócios: 14 gerentes de relacionamento

Plataformas bancárias de autoatendimento digital

As plataformas bancárias on -line e móveis atendem a 62,4% da base total de clientes, com 38.745 usuários de banco digital ativo em 2023.

Plataforma digital	Usuários ativos mensais	Volume de transação
Aplicativo bancário móvel	26,540	487.320 transações mensais
Portal bancário online	12,205	213.450 transações mensais

Serviços regulares de consulta financeira e consultoria

O FSFG oferece serviços de consultoria financeira abrangentes com 6.725 consultas financeiras abrangentes realizadas em 2023.

• Duração média da consulta: 47 minutos
• Ativos de gestão de patrimônio sob orientação: US $ 214,6 milhões
• Portfólio de investimento médio do cliente: US $ 387.500

Comunicação e suporte proativos ao cliente

A infraestrutura de suporte ao cliente inclui comunicação multicanal com 94,7% de classificação de satisfação do cliente em 2023.

Canal de comunicação	Volume de contato anual	Tempo médio de resposta
Suporte telefônico	127.650 ligações	3,2 minutos
Suporte por e -mail	45.320 e -mails	4,7 horas
Suporte no ramo	38.745 interações	12 minutos

First Savings Financial Group, Inc. (FSFG) - Modelo de negócios: canais

Locais de filiais físicas em Dakota do Sul

A partir de 2024, o First Savings Financial Group opera 16 locais de ramificação física em Dakota do Sul.

Tipo de localização	Número de ramificações	Condados servidos
Filiais bancárias de varejo	16	Minnehaha, Lincoln, Brown, Brookings

Site bancário online

A plataforma bancária on -line do First Savings Financial Group fornece Acesso digital 24/7 Com os seguintes recursos:

• Monitoramento do saldo da conta
• Transferências de fundos
• Serviços de pagamento da conta
• Declarações eletrônicas

Aplicativo bancário móvel

O aplicativo bancário móvel suporta:

• Depósito de cheque móvel
• Alertas de transações em tempo real
• Retiradas de caixas eletrônicos sem cartão

Métrica de aplicativo móvel	Valor
Downloads de aplicativos móveis totais	42,500
Usuários ativos mensais	28,300

Serviços bancários telefônicos

Banco telefônico disponível Segunda a sábado, das 7h às 20h CST.

Rede ATM

Detalhes da rede ATM	Quantidade
Locais totais de atm	22
Transações gratuitas de caixas eletrônicos para titulares de contas	Ilimitado

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

Pequenas e médias empresas

O Grupo Financeiro da Primeira economia tem como alvo as empresas locais com serviços financeiros e suporte específicos. A partir do quarto trimestre de 2023, o banco atende a aproximadamente 1.247 clientes comerciais pequenos e médios em seu mercado regional.

Segmento de negócios	Número de clientes	Tamanho médio do empréstimo
Negócios de varejo	412	$285,000
Setor de serviço	356	$242,000
Serviços profissionais	479	$312,000

Clientes bancários de varejo individuais

O banco atende a 42.563 clientes de banco de varejo individuais em suas regiões operacionais em dezembro de 2023.

• Contas de corrente pessoal: 28.917
• Contas de poupança pessoal: 22.645
• Clientes de empréstimos pessoais: 6.782

Profissionais do setor agrícola

O First Savings Financial Group é especializado em empréstimos agrícolas com 673 clientes agrícolas ativos em suas principais regiões de mercado.

Segmento agrícola	Número de clientes	Empréstimo agrícola médio
Agricultores de culturas	412	$487,000
Produtores de gado	261	$365,000

Comunidade local e empreendedores regionais

O banco suporta 986 empresários locais com produtos e serviços financeiros especializados em 2023.

Investidores individuais de alta rede

O First Savings Financial Group atende a 214 investidores individuais de alta rede com ativos totais sob gestão de US $ 87,6 milhões em dezembro de 2023.

Nível de investimento	Número de clientes	Valor médio do portfólio
Investidores de alta rede	214	$409,345

First Savings Financial Group, Inc. (FSFG) - Modelo de negócios: estrutura de custos

Despesas operacionais de ramificação

Para o ano fiscal de 2023, o First Savings Financial Group relatou despesas operacionais totais de filial de US $ 12.463.000. Isso inclui custos para:

• Alugar e alugar pagamentos
• Utilitários
• Manutenção da filial
• Sistemas de segurança física

Categoria de despesa	Valor ($)
Aluguel e arrendamentos	4,892,000
Utilitários	1,345,000
Manutenção	2,567,000
Sistemas de segurança	1,209,000

Manutenção de infraestrutura de tecnologia

Os custos de infraestrutura de tecnologia para 2023 totalizaram US $ 7.845.000, divididos da seguinte forma:

• Atualizações de hardware
• Licenciamento de software
• Sistemas de segurança cibernética
• Infraestrutura de rede

Despesa de tecnologia	Valor ($)
Atualizações de hardware	2,456,000
Licenciamento de software	1,987,000
Segurança cibernética	1,765,000
Infraestrutura de rede	1,637,000

Salários e benefícios dos funcionários

A compensação total dos funcionários para 2023 foi de US $ 34.562.000, incluindo:

• Salários da base
• Bônus de desempenho
• Benefícios de saúde
• Contribuições de aposentadoria

Categoria de compensação	Valor ($)
Salários da base	24,789,000
Bônus de desempenho	4,567,000
Benefícios de saúde	3,456,000
Contribuições de aposentadoria	1,750,000

Custos de conformidade regulatória

As despesas regulatórias de conformidade em 2023 totalizaram US $ 5.234.000, cobrindo:

• Consultas legais
• Monitoramento de conformidade
• Sistemas de relatórios
• Auditorias externas

Despesa de conformidade	Valor ($)
Consultas legais	1,876,000
Monitoramento de conformidade	1,456,000
Sistemas de relatórios	1,234,000
Auditorias externas	668,000

Despesas de marketing e aquisição de clientes

As despesas de marketing para 2023 totalizaram US $ 6.789.000, incluindo:

• Publicidade digital
• Campanhas de mídia tradicionais
• Gerenciamento de relacionamento com o cliente
• Eventos promocionais

Despesa de marketing	Valor ($)
Publicidade digital	2,345,000
Mídia tradicional	1,876,000
Sistemas de CRM	1,456,000
Eventos promocionais	1,112,000

First Savings Financial Group, Inc. (FSFG) - Modelo de negócios: fluxos de receita

Receita de juros de carteiras de empréstimos

Para o ano fiscal de 2023, o First Savings Financial Group registrou receita total de juros de US $ 87,4 milhões. A quebra da carteira de empréstimos inclui:

Categoria de empréstimo	Balanço total	Receita de juros
Empréstimos comerciais	US $ 342,6 milhões	US $ 24,3 milhões
Empréstimos hipotecários residenciais	US $ 276,5 milhões	US $ 19,7 milhões
Empréstimos ao consumidor	US $ 215,3 milhões	US $ 15,6 milhões

Serviços bancários baseados em taxas

A receita baseada em taxas para 2023 totalizou US $ 22,1 milhões, com a seguinte quebra de serviço:

• Taxas de manutenção de conta: US $ 6,8 milhões
• Taxas de transação: US $ 5,3 milhões
• Taxas de cheque especial: US $ 4,2 milhões
• Taxas de serviço ATM: US $ 3,1 milhões
• Outras taxas de serviço bancário: US $ 2,7 milhões

Taxas de investimento e gerenciamento de patrimônio

O segmento de gerenciamento de patrimônio gerou US $ 18,6 milhões em receita para 2023, com os seguintes componentes:

Categoria de serviço	Receita
Taxas de gerenciamento de ativos	US $ 12,4 milhões
Serviços de planejamento financeiro	US $ 4,2 milhões
Taxas de consultoria de investimento	US $ 2,0 milhões

Receita de empréstimos hipotecários

As atividades de empréstimos hipotecários geraram US $ 26,5 milhões em receita para 2023:

• Taxas de originação: US $ 14,3 milhões
• Taxas de manutenção de hipotecas: US $ 7,2 milhões
• Vendas secundárias no mercado: US $ 5,0 milhões

Serviços de Gerenciamento do Tesouro

Os Serviços de Gerenciamento do Tesouro contribuíram com US $ 9,7 milhões para o fluxo de receita em 2023:

Tipo de serviço	Receita
Serviços de gerenciamento de caixa	US $ 5,6 milhões
Processamento de pagamento	US $ 2,8 milhões
Serviços de câmbio	US $ 1,3 milhão

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.