First Savings Financial Group, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended Dec. 31, 2016; Reports Net Charge-Offs for the First Quarter Ended Dec. 31, 2016
January 25, 2017 at 10:00 pm
Share
First Savings Financial Group, Inc. announced unaudited consolidated earnings results for the first quarter ended Dec. 31, 2016. For the quarter, net interest income was $6,989,000 compared to $6,158,000 a year ago. Income before income taxes was $3,018,000 compared to $1,710,000 a year ago. Net income was $2,337,000 compared to $1,243,000 a year ago. Net income available to common shareholders were $2,337,000 or $1.00 per diluted share compared to $1,200,000 or $0.52 per diluted share a year ago. Return on average assets was 1.15% compared to 0.67% a year ago. Return on average equity was 10.85% compared to 5.21% a year ago. Return on average common stockholders' equity was 10.85% compared to 6.35% a year ago. Book value per common share as at Dec. 31, 2016 was $38.27 and tangible book value per common share as at Dec. 31, 2016 was $34.28.
The company recognized net charge-offs of $9,000 for the 2016 quarter as compared to net recoveries of $20,000 for the 2015 quarter.
First Savings Financial Group, Inc. is a holding company for First Savings Bank (the Bank). The Companyâs principal business activity is the ownership of the outstanding common stock of First Savings Bank. Its segments include core banking, Small Business Administration (SBA) lending, and mortgage banking. The core banking segment originates residential, commercial and consumer loans and attracts deposits from its customer base. The SBA lending segment originates loans guaranteed by the SBA, subsequently selling the guaranteed portion to outside investors. The mortgage banking segment originates residential mortgage loans and sells them in the secondary market. The Bank operates as a community-oriented financial institution, which offers traditional financial services to consumers and businesses in its primary market area. The Company provides a variety of banking services to individual and business customers through approximately 16 locations in southern Indiana.
First Savings Financial Group, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended Dec. 31, 2016; Reports Net Charge-Offs for the First Quarter Ended Dec. 31, 2016