First Savings Financial Group, Inc (FSFG) has reported 53.50 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $2.81 million, or $1.22 a share in the quarter, compared with $1.83 million, or $0.79 a share for the same period last year. Revenue during the quarter grew 24.93 percent to $9.74 million from $7.80 million in the previous year period. Net interest income for the quarter rose 8.55 percent over the prior year period to $6.70 million. Non-interest income for the quarter rose 75.24 percent over the last year period to $3.24 million.
First Savings Financial Group has made provision of $0.21 million for loan losses during the quarter, down 9.91 percent from $0.23 million in the same period last year.
Net interest margin improved 5 basis points to 3.91 percent in the quarter from 3.86 percent in the last year period. Efficiency ratio for the quarter improved to 58.94 percent from 69.17 percent in the previous year period. A decline in efficiency ratio indicates a rise in profitability.
Return on average assets moved up 35 basis points to 1.34 percent in the quarter from 0.99 percent in the last year period. At the same time, return on average equity increased 459 basis points to 12.46 percent in the quarter from 7.87 percent in the last year period.
Meanwhile, nonperforming assets to total assets was 1.49 percent in the quarter, down from 1.75 percent in the last year period.
Book value per share was $39.27 for the quarter, up 11.03 percent or $3.90 compared to $35.37 for the same period last year.
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