FSFG - First Savings Financial completes $31M subordinated notes offering

First Savings Financial (NASDAQ:FSFG) completed a $31M private placement offering of 4.5% fixed-to-floating rate subordinated notes due 2032 to certain qualified institutional buyers and accredited institutional investors. FSFG intends to use the net proceeds for general corporate purposes, including to fund organic growth, future repayment of existing outstanding subordinated debt, and potential stock repurchases. The notes mature on Mar. 30, 2032, unless redeemed earlier. The notes initially bear interest, payable semi-annually in arrears, at a fixed rate of 4.5% per annum until Mar. 30, 2027. Starting Mar. 30, 2027 and until maturity or redemption, the interest rate applicable to the outstanding principal amount of the notes due will reset quarterly to an interest rate per annum equal to the then current 3-month SOFR plus 276 bps, payable quarterly in arrears. FSFG has the option to redeem the notes, at par and in whole or in part, starting on Mar. 30,

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First Savings Financial completes $31M subordinated notes offering