First Savings Financial Group (FSFG) Q4 2025 earnings summary

Executive summary

• Net income for fiscal year ended September 30, 2025 was $23.2 million ($3.32 per diluted share), up from $13.6 million ($1.98 per diluted share) year-over-year. Excluding merger and nonrecurring items, adjusted net income was $22.7 million ($3.25 per share), up from $11.7 million ($1.70 per share) in 2024.

• Announced a pending merger with First Merchants Corporation, expected to close in 2026.

• Customer deposits increased by $118.2 million since September 2024, while total assets decreased by $50.8 million to $2.40 billion.

Financial highlights

• Net interest income rose 12.5% to $65.3 million for the year, with net interest margin improving to 2.94% from 2.68% year-over-year.

• Noninterest income increased by $6.3 million, driven by a $4.0 million gain on HELOC sales and a $1.2 million increase in SBA loan sales.

• Noninterest expense increased by $4.1 million, mainly due to higher compensation and benefits and a $395,000 accrued contingent liability.

• Income tax expense rose to $3.7 million (effective tax rate 13.8%) from $1.0 million (7.0%) due to higher taxable income.

• For the quarter ended September 30, 2025, net income was $5.3 million ($0.75 per diluted share), up from $3.7 million ($0.53 per share) year-over-year.

Outlook and guidance

• Management expects continued execution and value creation as the company prepares for integration with First Merchants in 2026.