The bank maintains a stable capital base with an equity-to-assets ratio of 8%, supported by a $2.2 billion investment securities portfolio as of 2025Q3.
| Metric | Sep'25 | Sep'24 | Sep'23 | Sep'22 | Sep'21 | Sep'20 | Sep'19 | Sep'18 | Sep'17 | Sep'16 | Sep'15 | Sep'14 | Sep'13 | Sep'12 | Sep'11 | Sep'10 | Sep'09 | Sep'08 | Sep'07 | Sep'06 |
|---|
| Cash & Short Term Investments | 33.65M | 301.31M | 259.07M | 359.8M | 242.33M | 238.66M | 221M | 229.15M | 214.79M | 206.94M | 206.42M | 206.53M | 186.48M | 191.33M | 27.2M | 11.28M | 10.4M | 21.38M | 10.39M | 15.22M |
| Cash & Due from Banks | 32.1M | 52.63M | 31.34M | 43.28M | 35.65M | 36.69M | 43.7M | 44.77M | 36.69M | 32.44M | 28.09M | 21.83M | 22.32M | 38.79M | 27.2M | 11.28M | 10.4M | 21.38M | 10.39M | 15.22M |
| Short Term Investments | 1.55M | 248.68M | 227.74M | 316.52M | 206.68M | 201.97M | 177.3M | 184.37M | 178.1M | 174.49M | 178.33M | 184.7M | 164.17M | 152.54M | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 2.19B | 2.24B | 2.05B | 1.85B | 1.5B | 1.58B | 1.09B | 923.38M | 793.07M | 701.74M | 646.86M | 624.27M | 579.36M | 550.1M | 472.51M | 459.4M | 433.5M | 193.96M | 183.05M | 180.81M |
| Investments Growth % | -2.16% | 9.49% | 10.36% | 23.59% | -5.08% | 45.41% | 17.65% | 16.43% | 13.01% | 8.48% | 3.62% | 7.75% | 5.32% | 16.42% | 2.85% | 5.98% | 123.5% | 5.96% | 1.24% | - |
| Long-Term Investments | 2.19B | 1.99B | 1.82B | 1.54B | 1.29B | 1.38B | 909.06M | 739M | 614.97M | 527.25M | 468.54M | 439.58M | 415.19M | 397.56M | 472.51M | 459.4M | 433.5M | 193.96M | 183.05M | 180.81M |
| Accounts Receivables | 9.41M | 9.45M | 7.81M | 5.38M | 4.4M | 4.58M | 3.33M | 2.69M | 1.91M | 1.45M | 1.26M | 1.28M | 1.21M | 1.36M | 2.2M | 2.39M | 2.1M | 930K | 1.08M | 1.13M |
| Goodwill & Intangibles | 10.08M | 13M | 73.23M | 77.82M | 64.86M | 36.5M | 15.23M | 11.57M | 8.63M | 8.97M | 9.32M | 9.66M | 10.01M | 10.35M | 8.09M | 8.39M | 8.62M | 0 | 0 | 0 |
| Goodwill | 9.85M | 9.85M | 9.85M | 9.85M | 9.85M | 9.85M | 9.85M | 9.85M | 7.94M | 7.94M | 7.94M | 7.94M | 7.94M | 7.94M | 5.94M | 5.94M | 5.88M | 0 | 0 | 0 |
| Intangible Assets | 234K | 3.15M | 63.38M | 67.97M | 55.01M | 26.65M | 5.38M | 1.73M | 693K | 1.04M | 1.38M | 1.73M | 2.07M | 2.41M | 2.15M | 2.45M | 2.74M | 0 | 0 | 0 |
| PP&E (Net) | 25.4M | 26.46M | 27.86M | 27.1M | 27.67M | 24.41M | 19.24M | 13.01M | 11.27M | 11.67M | 13.84M | 14.28M | 14.84M | 10.91M | 10.44M | 9.49M | 9.92M | 4.24M | 4.37M | 4.41M |
| Other Assets | -2.21B | 107.61M | 101.13M | 84.12M | 87.58M | 80.91M | 53.01M | 37.38M | 38.07M | 38.88M | 49.18M | 40.58M | 31.54M | 26.35M | 16.63M | 17.49M | 16.27M | 8.41M | 4.42M | 4.83M |
| Total Current Assets | 284.47M | 312.69M | 269.24M | 368.13M | 248.57M | 245.12M | 226.04M | 233.44M | 218.19M | 209.74M | 209.08M | 209.04M | 188.87M | 193.75M | 29.4M | 13.67M | 12.5M | 22.31M | 11.48M | 16.36M |
| Total Non-Current Assets | 10.08M | 2.14B | 2.02B | 1.73B | 1.47B | 1.52B | 996.54M | 800.97M | 672.94M | 586.77M | 540.87M | 504.09M | 471.58M | 445.17M | 507.69M | 494.77M | 468.31M | 206.62M | 191.84M | 190.04M |
| Total Assets | 2.4B | 2.45B | 2.29B | 2.09B | 1.72B | 1.76B | 1.22B | 1.03B | 891.13M | 796.52M | 749.95M | 713.13M | 660.46M | 638.91M | 537.09M | 508.44M | 480.81M | 228.92M | 203.32M | 206.4M |
| Asset Growth % | -2.07% | 7.06% | 9.32% | 21.63% | -2.45% | 44.34% | 18.19% | 16.08% | 11.88% | 6.21% | 5.16% | 7.98% | 3.37% | 18.96% | 5.63% | 5.75% | 110.03% | 12.59% | -1.49% | - |
| Return on Assets (ROA) | 0.96% | 0.57% | 0.37% | 0.81% | 1.7% | 2.23% | 1.43% | 1.13% | 1.1% | 1.02% | 0.92% | 0.78% | 0.72% | 0.73% | 0.77% | 0.53% | 0.01% | -0.09% | 0.4% | 0.17% |
| Accounts Payable | 5.05M | 13.38M | 8.93M | 1.3M | 258K | 683K | 935K | 743K | 283K | 195K | 186K | 175K | 184K | 236K | 399K | 427K | 516K | 143K | 175K | 147K |
| Total Debt | 463.76M | 350.24M | 411.63M | 395.51M | 269.87M | 330.65M | 246.27M | 111.01M | 119.41M | 122.98M | 110.84M | 85.7M | 95.66M | 56.52M | 69.54M | 83.98M | 74.19M | 16M | 6M | 0 |
| Net Debt | 431.67M | 297.61M | 380.29M | 352.23M | 234.22M | 293.96M | 202.58M | 66.24M | 82.72M | 90.54M | 82.75M | 63.87M | 73.34M | 17.73M | 42.34M | 72.7M | 63.79M | -5.38M | -4.39M | -15.22M |
| Long-Term Debt | 463.76M | 350.24M | 411.63M | 395.51M | 269.87M | 330.65M | 242.27M | 109.66M | 118.06M | 121.63M | 109.5M | 84.36M | 94.32M | 55.19M | 53.14M | 67.16M | 55.77M | 8M | 3M | 0 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 4M | 1.35M | 1.35M | 1.34M | 1.34M | 1.34M | 1.33M | 1.33M | 16.4M | 16.82M | 18.42M | 0 | 0 | 0 |
| Other Liabilities | 27.36M | 28.75M | 1.03M | 1.21M | 2.08M | 177.45M | 1.91M | 1.22M | 1.21M | 1.01M | 883K | 748K | 707K | 622K | 330K | 252K | 341K | -7.6M | -2.67M | 279K |
| Total Current Liabilities | 1.71B | 1.89B | 1.73B | 1.55B | 1.27B | 1.1B | 857.14M | 823.28M | 678.74M | 587.29M | 545.21M | 540.94M | 483.17M | 500.17M | 407.02M | 385.88M | 371.82M | 190.81M | 170.33M | 177.27M |
| Total Non-Current Liabilities | 491.13M | 378.99M | 412.65M | 396.72M | 271.94M | 508.1M | 244.18M | 110.88M | 119.28M | 122.65M | 110.38M | 85.11M | 95.03M | 55.82M | 53.47M | 67.16M | 56.11M | 8.4M | 3.33M | 279K |
| Total Liabilities | 2.21B | 2.27B | 2.14B | 1.94B | 1.54B | 1.61B | 1.1B | 934.16M | 798.02M | 709.94M | 655.59M | 626.05M | 578.2M | 555.99M | 460.49M | 453.29M | 427.93M | 199.2M | 173.66M | 177.55M |
| Total Equity | 193.48M | 177.12M | 150.98M | 151.56M | 180.38M | 157.56M | 121.26M | 100.25M | 93.11M | 86.58M | 94.36M | 87.08M | 82.25M | 82.93M | 76.6M | 55.15M | 52.88M | 29.72M | 29.66M | 28.85M |
| Equity Growth % | 9.24% | 17.31% | -0.39% | -15.97% | 14.48% | 29.94% | 20.96% | 7.66% | 7.55% | -8.24% | 8.36% | 5.87% | -0.81% | 8.26% | 38.89% | 4.3% | 77.92% | 0.2% | 2.81% | - |
| Equity / Assets (Capital Ratio) | 8.06% | 7.23% | 6.6% | 7.24% | 10.48% | 8.93% | 9.92% | 9.69% | 10.45% | 10.87% | 12.58% | 12.21% | 12.45% | 12.98% | 14.26% | 10.85% | 11% | 12.98% | 14.59% | 13.98% |
| Return on Equity (ROE) | 12.5% | 8.29% | 5.4% | 9.27% | 17.5% | 23.92% | 14.61% | 11.28% | 10.37% | 8.74% | 7.44% | 6.37% | 5.69% | 5.37% | 6.09% | 4.87% | 0.08% | -0.64% | 2.78% | 1.23% |
| Book Value per Share | 27.73 | 25.83 | 21.94 | 21.22 | 25.14 | 22.11 | 17.04 | 14.08 | 13.23 | 12.53 | 13.99 | 13.02 | 12.08 | 12.39 | 11.66 | 8.19 | 7.61 | 3.90 | 4.30 | 4.18 |
| Tangible BV per Share | 26.29 | 23.93 | 11.30 | 10.33 | 16.10 | 16.98 | 14.90 | 12.46 | 12.00 | 11.23 | 12.61 | 11.58 | 10.61 | 10.85 | 10.43 | 6.94 | 6.37 | 3.90 | 4.30 | 4.18 |
| Common Stock | 79K | 78K | 78K | 78K | 78K | 26K | 26K | 26K | 25K | 25K | 25K | 25K | 25K | 25K | 25K | 25K | 25K | 0 | 0 | 0 |
| Additional Paid-in Capital | 30.37M | 27.65M | 26.99M | 26.77M | 25.72M | 27.48M | 27.49M | 27.63M | 27.8M | 27.18M | 43.92M | 43.2M | 42.58M | 42.02M | 41.73M | 24.31M | 24.26M | 0 | 0 | 0 |
| Retained Earnings | 192.11M | 173.34M | 166.31M | 161.93M | 150.19M | 123.16M | 91.23M | 76.52M | 67.58M | 59.5M | 52.76M | 47.17M | 42.87M | 39.92M | 35.8M | 31.89M | 29.45M | 29.42M | 29.61M | 28.8M |
| Accumulated OCI | -15.09M | -11.2M | -29.59M | -27.08M | 8.9M | 11.21M | 7.3M | 382K | 4.16M | 5.94M | 4.21M | 3.85M | 1.47M | 5.61M | 3.35M | 2.96M | 932K | 300K | 52K | 54K |
| Treasury Stock | -12.17M | -11.85M | -11.79M | -9.16M | -4.37M | -4.25M | -4.54M | -5.27M | -5.88M | -6.07M | -6.36M | -6.47M | -3.41M | -2.77M | -2.02M | -1.33M | 0 | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
SBA secondary market volatility
According to the provided balance sheet data, FSFG has maintained a stable total asset base of approximately $2.4 billion over the last ten quarters, with the composition shifting heavily toward investment securities, which reached $2.2 billion by 2025Q3, suggesting a pivot toward lower-risk, liquid asset allocation.
The bank's asset trajectory appears to favor securities over traditional loan growth, which may reflect a strategic decision to manage risk in a volatile interest rate environment. This shift warrants monitoring as it may limit the bank's ability to capture higher yields typically associated with a more aggressive national SBA lending expansion.
As reported in financial statements, FSFG has grown its equity base from $151.0 million in 2023Q4 to $193.5 million by 2025Q4, maintaining a consistent equity-to-assets ratio of approximately 8%, which indicates a disciplined approach to capital retention despite the cyclical nature of its national lending platforms.
The steady accumulation of equity suggests that management is prioritizing balance sheet resilience to support its diverse business segments. Investors should monitor whether this capital buffer remains sufficient to absorb potential volatility in the SBA servicing portfolio as the bank continues to scale its national footprint.
Based on quarterly figures, FSFG's cash and cash equivalents have fluctuated significantly, ranging from zero in 2025Q2 to $76.7 million in 2025Q1, highlighting the bank's reliance on active liquidity management to fund its transactional SBA and mortgage banking operations throughout the recent two-year period.
The volatility in cash balances appears to be a direct consequence of the lumpy nature of loan originations and subsequent sales in the secondary market. This suggests that the bank's liquidity position is highly sensitive to the timing of these transactions, necessitating a robust contingent funding strategy.
As indicated by the balance sheet data, the concentration of $2.2 billion in investment securities as of 2025Q3 represents a significant portion of total assets, which may expose the bank to interest rate risk and potential unrealized losses if market conditions shift unexpectedly in the coming quarters.
While the securities portfolio provides a stable foundation, its sheer size relative to the total balance sheet warrants further investigation into the duration and credit quality of these holdings. Investors should consider the potential impact of a sustained high-rate environment on the fair value of these assets.
Quick answers to the most common questions about buying FSFG stock.
As of 2025, First Savings Financial Group, Inc. (FSFG) had total assets of $2.40B including $284.5M in current assets.
First Savings Financial Group, Inc. (FSFG) carries total debt of $463.8M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
First Savings Financial Group, Inc. (FSFG) has total shareholders' equity (book value) of $193.5M ($27.73 book value per share). Book value represents the net worth of the company belonging to common stock holders.
First Savings Financial Group, Inc. (FSFG) reported a current ratio of 0.17x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.