Savings bank

Declining Full Year Profits for First Savings Bank

Jeffersonville-based First Savings Financial Group Inc. (Nasdaq: FSFG) reports net income of $ 29.6 million for the year, up from $ 33.4 million the year before. Despite the drop, chief executive Larry Myers said First Savings Bank’s parent company is poised for growth.

The banking company also reports net income of $ 4.8 million for the fourth quarter of the fiscal year, up from $ 15.1 million in the same period last year.

“In addition to having achieved the second highest year of net profit on record and significantly increasing the balance sheet, excluding the cancellation of PPP loans, we believe that we have positioned the company for continued growth and profitability,” said Myers in a press release. “We are encouraged by the strong performance of the Core Banking and SBA Loans segments, and see an opportunity for further growth and profitability of the Mortgage Banking segment in fiscal 2022. I am optimistic that everyone of these lines of business will continue to thrive and deliver exceptional value for our shareholders.

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