Bank IPO On Deck: First Savings Financial Group (FSFG)

By Douglas A. McIntyre Updated Apr 27, 5:17PM EDT · Published Oct 3, 3:19PM EDT

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Money_stack_pic The IPO market has been dead as a doornail. But next week we have a bank IPO coming to market. It is amazing that a bank would dare come to market in this environment. First Savings Financial Group, Inc. is the proposed holding company for First Savings Bank, F.S.B. It has now received final regulatory approval to close its initial public offering. This bank is a federally chartered savings bank headquartered in Clarksville, Indiana.

This offering is actually the conversion of the bank from a mutualcompany to a public company. It expects closing to occur onMonday and to begin trading its common stock Tuesday.

First Savings Financial Group will trade on NASDAQ under the ticker"FSFG". This is going to be a small offering with 2,432,042 shares ofcommon stock. These shares were sold at $10.00 per share in thesubscription and community offerings to certain depositors of the bank,bank employee stock ownership plan, and to the general public. Keefe,Bruyette & Woods, Inc. acted as financial adviser to First SavingsFinancial Group.

Jon C. Ogg
October 3, 2008

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.