First Savings Bank Reports Q1 Profit Dip
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Jeffersonville-based First Savings Financial Group Inc. (Nasdaq: FSFG) is reporting fiscal first quarter net income of $4.3 million, down from $9.9 million during the same period in 2020. Chief Executive Officer Larry Myers says the bank had a strong quarter of loan growth, and continued to stabilize the financial performance of its mortgage banking segment.
“The core banking segment provided solid performance while the SBA lending segment underperformed due to an increase in provision for loan losses related to downgrades of nonperforming loans, which is oftentimes challenging to predict,” said Myers. I’m optimistic that the Company is well-positioned for the opportunities and challenges that will occur during 2022 and that each of the business lines will thrive and deliver exceptional value to our shareholders.”
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