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  A Letter to Our Southern Indiana Customers

       Coming out of the recent financial crisis we learned that banks are essential to a healthy, diverse and innovative economy. Banks remain the single largest source of credit for consumers in the United States. Most banks are small, serving the unique needs of their local communities. The median sized bank is $165 million in total assets and employs 39 people. There are over 6500 banks classified as “community banks” with assets of less than $10 billion. There are only 95 banks with assets over $10 billion. There are over 97,000 bank offices (branches) supported by more than 400,000 ATMs. Plus there are many clients serviced by internet banking that may never walk in to a branch or use an ATM.

       Banks are vital to small businesses, providing credit to grow and prosper. Banks have extended nearly $300 billion in small business loans to over 22 million customers and still have money to lend. Banks support our communities with over $350 billion lent to help state and local governments fund public improvements like schools, water and sewer lines, roads and public health facilities. Banks play an important role as buyers and sellers of Treasury securities, which supports our federal government. In 2012, banks paid $60 billion in federal, state and local taxes. 

       Banks are also major source of employment. There are more than 2.1 million people employed by the banking industry. In many small towns, banks are a primary source of professional jobs. Banks also provide leadership and support to community and charitable activities. Bankers are on many non-profit boards, provide countless hours of community service and donate millions of dollars to support worthy causes. Just imagine where our community would be without its banks!

       First Savings Bank (FSB) is a community bank serving the southern Indiana community for over 75 years. FSB has invested $400 million in loans to support local businesses, homeowners and consumers. We are a major lender to area municipalities, supporting the financing of schools, roads and infrastructure. We have paid in taxes of nearly $12.7 million over the last 5 years to federal, state and local governments. In 2013 our staff volunteered 8,000 community service hours while raising tens of thousands of dollars to support those activities. In addition, FSB and its Foundation donated $185,000 to local non-profit organizations in 2013. We provide employment to 185 professionals who live, shop and invest in southern Indiana. 

      Just as community banks are important to our national economy, First Savings is important to prosperity in Southern Indiana. If First Savings is your primary bank, I thank you for helping us support and improve our home in southern Indiana. If First Savings is not your primary bank, give us the opportunity to provide for your credit and investment needs in 2014. You will find us competitive and easy to work with. And being a locally owned bank, your dollars will stay in southern Indiana to support your community.

Larry W. Myers

President & Chief Executive Officer
First Savings Bank