First Savings Financial (FSFG) Financial Report Summaries

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Readability	H.S. freshman Bad

New words: allegation, alleged, began, bulk, civil, combination, cooperating, counsel, department, Joint, matter, occupancy, partnership, professional, split, statutory, thereof, violation

Removed: accuracy, administrator, approach, assignment, bearing, calculate, CECL, checklist, closed, collect, committed, continue, cumulative, decreasing, default, design, detailed, enhanced, enhancing, favorable, frequency, fund, guarantor, identification, improve, improving, inappropriate, incurred, journal, lack, ledger, lend, lessor, letter, manual, modified, MSR, nonperforming, outflow, owed, performing, precision, recording, referred, remediate, replaced, resolution, restructuring, retrospective, staffing, standby, TDR, technology, temporary, timing, transition, treatment, troubled, unable, vintage

From filing 10-Q 2024 Q1

Financial report summary

Risks

Our emphasis on commercial real estate lending and commercial business lending may expose us to increased lending risks.
Our construction loan and land and land development loan portfolios may expose us to increased credit risk.
Our concentration in non-owner occupied residential real estate loans may expose us to increased credit risk.
Our allowance for credit losses may not be adequate to cover actual losses.
Our SBA lending program is dependent upon the federal government and we face specific risks associated with originating SBA loans.
We may be required to repurchase mortgage loans or indemnify buyers against losses in some circumstances.
Strong competition within our primary market area could hurt our profits and slow growth.
Changing interest rates may hurt our earnings and asset value.
Liquidity risk could impair our ability to fund operations and jeopardize our financial condition.
Market expansion and acquisitions may not produce revenue enhancements or cost savings at levels or within timeframes originally anticipated and may result in unforeseen integration difficulties and dilution to existing shareholder value.
If the goodwill that we recorded in connection with a business acquisition becomes impaired, it could have a significant negative impact on our profitability.
If additional provisions for credit losses are recorded in connection with our investment portfolio it could have a significant negative impact on our profitability.
Because the nature of the financial services business involves a high volume of transactions, we face significant operational risks.
A disruption, failure in or breach, including cyber-attacks, of our operational, communications, information or security systems, or those of our third party vendors and other service providers, could disrupt our businesses, result in the disclosure or misuse of confidential or proprietary information, damage our reputation, increase our costs and cause losses.
We operate in a highly regulated environment and we may be adversely affected by changes in laws and regulations.
We rely heavily on our management team and the unexpected loss of any of those personnel could adversely affect our operations, and we depend on our ability to attract and retain key personnel.
The trading volume of our stock varies and you may not be able to resell your shares at or above the price you paid for them.
Insiders have substantial control over us, and this control may limit our shareholders’ ability to influence corporate matters and may delay or prevent a third party from acquiring control over us.