UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 10-Q

(Mark One)

xQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended December 31, 2010

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File No. 1-34155

First Savings Financial Group, Inc.

(Exact name of registrant as specified in its charter)

Indiana	37-1567871
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification Number)

501 East Lewis & Clark Parkway, Indiana 47129

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code 1-812-283-0724

Not applicable

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.   Yes x   No ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  Yes ¨  No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company.  See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

(Check one):	Large Accelerated Filer ¨	Accelerated Filer ¨
	Non-accelerated Filer ¨	Smaller Reporting Company x

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).   Yes ¨   No x

The number of shares outstanding of the registrant’s common stock as of January 31, 2011 was 2,368,945.

FIRST SAVINGS FINANCIAL GROUP, INC.

INDEX

		Page
Part I	Financial Information
	Item 1.  Financial Statements
	Consolidated Balance Sheets as of December 31, 2010 and September 30, 2010 (unaudited)	3
	Consolidated Statements of Income for the three months ended December 31, 2010 and 2009 (unaudited)	4
	Consolidated Statements of Cash Flows for the three months ended December 31, 2010 and 2009 (unaudited)	5
	Notes to Consolidated Financial Statements (unaudited)	6-29
	Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations	30-37
	Item 3.  Quantitative and Qualitative Disclosures About Market Risk	38-39
	Item 4.  Controls and Procedures	40
Part II	Other Information
	Item 1.  Legal Proceedings	41
	Item 1A.  Risk Factors	41
	Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds	41
	Item 3.  Defaults Upon Senior Securities	42
	Item 4.  Reserved	42
	Item 5.  Other Information	42
	Item 6.  Exhibits	42
Signatures		43

-2-

PART I - FINANCIAL INFORMATION

FIRST SAVINGS FINANCIAL GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Unaudited)

	December 31,			September 30,
(In thousands, except share and per share data)	2010			2010
ASSETS
Cash and due from banks	$	8,412		$	10,184
Interest-bearing deposits with banks		3,065			1,094
Total cash and cash equivalents		11,477			11,278
Securities available for sale, at fair value		120,139			109,976
Securities held to maturity		3,586			3,929
Loans held for sale		1,539			1,884
Loans, net		339,094			343,615
Federal Home Loan Bank stock, at cost		4,049			4,170
Premises and equipment		9,929			9,492
Foreclosed real estate		1,793			1,331
Accrued interest receivable:
Loans		1,514			1,646
Securities		916			746
Cash surrender value of life insurance		8,313			8,234
Goodwill		5,940			5,940
Core deposit intangible		2,374			2,447
Other assets		4,434			3,754
Total Assets	$	515,097		$	508,442
LIABILITIES
Deposits:
Noninterest-bearing	$	30,883		$	28,853
Interest-bearing		343,141			337,308
Total deposits		374,024			366,161
Repurchase agreements		16,716			16,821
Borrowings from Federal Home Loan Bank		67,784			67,159
Accrued interest payable		415			427
Advance payments by borrowers for taxes and insurance		148			252
Accrued expenses and other liabilities		1,859			2,471
Total Liabilities		460,946			453,291
STOCKHOLDERS' EQUITY
Preferred stock of $.01 par value per share Authorized 1,000,000 shares; none issued		-			-
Common stock of $.01 par value per share Authorized 20,000,000 shares; issued 2,542,042 shares		25			25
Additional paid-in capital		24,394			24,310
Retained earnings - substantially restricted		32,987			31,889
Accumulated other comprehensive income		1,328			2,959
Unearned ESOP shares		(1,452	)		(1,501	)
Unearned stock compensation		(1,137	)		(1,202	)
Less treasury stock, at cost - 173,097 shares (127,102 shares at September 30, 2010)		(1,994	)		(1,329	)
Total Stockholders' Equity		54,151			55,151
Total Liabilities and Stockholders' Equity	$	515,097		$	508,442

See notes to consolidated financial statements.

-3-

PART I - FINANCIAL INFORMATION

FIRST SAVINGS FINANCIAL GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

	Three Months Ended
	December 31,
(In thousands, except share and per share data)	2010			2009
INTEREST INCOME
Loans, including fees	$	5,254		$	5,667
Securities:
Taxable		1,046			767
Tax-exempt		169			138
Dividend income		28			17
Interest-bearing deposits with banks		3			6
Total interest income		6,500			6,595
INTEREST EXPENSE
Deposits		1,061			1,346
Repurchase agreements		80			91
Borrowings from Federal Home Loan Bank		282			230
Total interest expense		1,423			1,667
Net interest income		5,077			4,928
Provision for loan losses		352			358
Net interest income after provision for loan losses		4,725			4,570
NONINTEREST INCOME
Service charges on deposit accounts		361			411
Net gain on sales of securities available for sale		68			-
Unrealized gain on derivative contract		45			61
Net gain on sales of mortgage loans		106			9
Increase in cash surrender value of life insurance		80			57
Commission income		33			28
Other income		161			159
Total noninterest income		854			725
NONINTEREST EXPENSE
Compensation and benefits		2,200			2,122
Occupancy and equipment		445			532
Data processing		285			236
Advertising		92			93
Professional fees		120			114
FDIC insurance premiums		134			150
Net loss on foreclosed real estate		42			22
Other operating expenses		720			696
Total noninterest expense		4,038			3,965
Income before income taxes		1,541			1,330
Income tax expense		457			438
Net Income	$	1,084		$	892
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX
Unrealized gain (loss) on securities:
Unrealized holding gains (losses) arising during the period		(1,586	)		202
Less: reclassification adjustment		(45	)		-
Other comprehensive income (loss)		(1,631	)		202
Comprehensive Income (Loss)	$	(547	)	$	1,094
Net Income per common share, basic	$	0.50		$	0.38
Net Income per common share, diluted	$	0.50		$	0.38
Dividends per common share	$	-		$	0.08

See notes to consolidated financial statements.

-4-

PART I - FINANCIAL INFORMATION

FIRST SAVINGS FINANCIAL GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

	Three Months Ended
	December 31,
(In thousands)	2010			2009
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	1,084		$	892
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses		352			358
Depreciation and amortization		212			292
Amortization of premiums and accretion of discounts on securities, net		(50	)		(33	)
Mortgage loans originated for sale		(6,448	)		(1,035	)
Proceeds on sale of mortgage loans		6,899			841
Gain on sale of mortgage loans		(106	)		(9	)
Net realized and unrealized (gain) loss on foreclosed real estate		8			(62	)
Net gain on sales of securities available for sale		(68	)		-
Unrealized gain on derivative contract		(45	)		(61	)
Increase in cash surrender value of life insurance		(80	)		(57	)
Deferred income taxes		221			(2,263	)
ESOP and stock compensation expense		195			189
(Increase) decrease in accrued interest receivable		(38	)		47
Increase (decrease) in accrued interest payable		(12	)		9
Change in other assets and liabilities, net		(543	)		49
Net Cash Provided By (Used In) Operating Activities		1,581			(843	)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of securities available for sale		(20,770	)		(16,668	)
Proceeds from sales of securities available for sale		3,914			191
Proceeds from maturities of securities available for sale		619			8,050
Principal collected on mortgage-backed securities		3,996			3,401
Net (increase) decrease in loans		3,416			(82	)
Proceeds from redemption of Federal Home Loan Bank stock		121			-
Investment in cash surrender value of life insurance		-			(1,200	)
Proceeds from sale of foreclosed real estate		284			860
Purchase of premises and equipment		(576	)		(95	)
Net Cash Used In Investing Activities		(8,996	)		(5,543	)
CASH FLOWS FROM FINANCING ACTIVITIES
Net increase in deposits		7,863			9,155
Net decrease in federal funds purchased		-			(1,180	)
Net decrease in repurchase agreements		(105	)		(104	)
Increase (decrease) in Federal Home Loan Bank line of credit		(331	)		1,148
Proceeds from Federal Home Loan Bank advances		25,000			39,439
Repayment of Federal Home Loan Bank advances		(24,044	)		(36,993	)
Net decrease in advance payments by borrowers for taxes and insurance		(104	)		(191	)
Purchase of treasury stock		(665	)		(1,329	)
Net Cash Provided By Financing Activities		7,614			9,945
Net Increase in Cash and Cash Equivalents		199			3,559
Cash and cash equivalents at beginning of period		11,278			10,404
Cash and Cash Equivalents at End of Period	$	11,477		$	13,963

See notes to consolidated financial statements.

-5-

FIRST SAVINGS FINANCIAL GROUP, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

1.           Presentation of Interim Information

First Savings Financial Group, Inc. (“Company”), an Indiana corporation, was incorporated in May 2008 to serve as the holding company for First Savings Bank, F.S.B. (“Bank”), a federally-chartered savings bank.  On October 6, 2008, in accordance with a Plan of Conversion adopted by its board of directors and approved by its members, the Bank converted from a mutual savings bank to a stock savings bank and became the wholly-owned subsidiary of the Company.  In connection with the conversion, the Company issued an aggregate of 2,542,042 shares of common stock at an offering price of $10.00 per share.  In addition, in connection with the conversion, First Savings Charitable Foundation was formed, to which the Company contributed 110,000 shares of common stock and $100,000 in cash.  The Company’s common stock began trading on the Nasdaq Capital Market on October 7, 2008 under the symbol “FSFG”.

The Bank has three-wholly owned subsidiaries: First Savings Investments, Inc., a Nevada corporation that manages a securities portfolio, Southern Indiana Financial Corporation, which sells non-deposit investment products, and FFCC, Inc., which is currently inactive.

In the opinion of management, the unaudited consolidated financial statements include all adjustments considered necessary to present fairly the financial position as of December 31, 2010, and the results of operations and the cash flows for the three-month periods ended December 31, 2010 and 2009.  All of these adjustments are of a normal, recurring nature.  Such adjustments are the only adjustments included in the unaudited consolidated financial statements.  Interim results are not necessarily indicative of results for a full year.  

The accompanying unaudited consolidated financial statements and notes have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial statements and are presented as permitted by the instructions to Form 10-Q.  Accordingly, they do not contain certain information included in the Company’s audited consolidated financial statements and related notes for the year ended September 30, 2010 included in the Form 10-K.

The unaudited consolidated financial statements include the accounts of the Company and its subsidiaries.  All material intercompany balances and transactions have been eliminated in consolidation.

-6-

FIRST SAVINGS FINANCIAL GROUP, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

2.           Investment Securities

Investment securities have been classified according to management’s intent.  The amortized cost of securities and their fair values are as follows:

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(In thousands)
December 31, 2010:
Securities available for sale:
Agency bonds and notes	$	32,706	$	10	$	458	$	32,258
Agency mortgage-backed		11,809		253		66		11,996
Agency CMO		22,117		199		130		22,186
Privately-issued CMO		10,149		2,642		74		12,717
Municipal		41,152		543		801		40,894
Subtotal – debt securities		117,933		3,647		1,529		120,051
Equity securities		-		88		-		88
Total securities available for sale	$	117,933	$	3,735	$	1,529	$	120,139
Securities held to maturity:
Agency mortgage-backed	$	3,283	$	196	$	-	$	3,479
Municipal		303		2		-		305
Total securities held to maturity	$	3,586	$	198	$	-	$	3,784
September 30, 2010:
Securities available for sale:
Agency bonds and notes	$	25,510	$	196	$	1	$	25,705
Agency mortgage-backed		13,944		226		29		14,141
Agency CMO		22,325		224		61		22,488
Privately-issued CMO		10,342		2,418		72		12,688
Municipal		33,109		1,920		152		34,877
Subtotal – debt securities		105,230		4,984		315		109,899
Equity securities		-		77		-		77
Total securities available for sale	$	105,230	$	5,061	$	315	$	109,976
Securities held to maturity:
Agency mortgage-backed	$	3,625	$	211	$	-	$	3,836
Municipal		304		4		-		308
Total securities held to maturity	$	3,929	$	215	$	-	$	4,144

-7-

FIRST SAVINGS FINANCIAL GROUP, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

Agency bonds and notes, agency mortgage-backed securities and agency collateralized mortgage obligations (CMO) include securities issued by the Government National Mortgage Association (GNMA), a U.S. government agency, and the Federal National Mortgage Association (FNMA), the Federal Home Loan Mortgage Corporation (FHLMC) and the Federal Home Loan Bank (FHLB), which are government-sponsored enterprises.  Privately-issued CMO are complex securities issued by special-purpose entities that are generally collateralized by first position residential mortgage loans and first position residential home equity loans.

The amortized cost and fair value of investment securities as of December 31, 2010 by contractual maturity are shown below.  Expected maturities of mortgage-backed securities and CMO may differ from contractual maturities because the mortgages underlying the obligations may be prepaid without penalty.

	Available for Sale				Held to Maturity
	Amortized		Fair		Amortized		Fair
	Cost		Value		Cost		Value
	(In thousands)
Due within one year	$	1,187	$	1,183	$	303	$	305
Due after one year through
five years		3,335		3,309		-		-
Due after five years through
ten years		7,473		7,552		-		-
Due after ten years		61,863		61,108		-		-
		73,858		73,152		303		305
Equity securities		-		88		-		-
CMO		32,266		34,903		-		-
Mortgage-backed securities		11,809		11,996		3,283		3,479
	$	117,933	$	120,139	$	3,586	$	3,784

Information pertaining to securities with gross unrealized losses at December 31, 2010, aggregated by investment category and the length of time that individual securities have been in a continuous loss position, follows:

	Number				Gross
	of Investment		Fair		Unrealized
	Positions		Value		Losses
	(Dollars in thousands)
Securities available for sale:
Continuous loss position less than twelve months:
Agency bonds and notes		14	$	22,548	$	458
Agency mortgage-backed		4		5,895		66
Agency CMO		6		6,259		130
Privately-issued CMO		6		1,212		74
Municipal bonds		30		16,183		801
Total securities available for sale		60	$	52,097	$	1,529

-8-

FIRST SAVINGS FINANCIAL GROUP, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

At December 31, 2010, the Company did not have any securities held to maturity with an unrealized loss or securities that had been in a continuous loss position for more than twelve months.  Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation.  Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Bank to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value.

The total available for sale debt securities in loss positions at December 31, 2010 have depreciated approximately 2.9% from the Bank’s amortized cost basis and are fixed and variable rate securities with a weighted-average yield of 4.14% and a weighted-average coupon rate of 4.24%.

U.S. government agency debt securities, including mortgage-backed securities and CMO securities, and municipal bonds in loss positions at December 31, 2010 had depreciated approximately 2.8% from the amortized cost basis.  All of the U.S. government agency and municipal securities are issued by U.S. government agencies, government-sponsored enterprises and municipal governments, or are secured by first mortgage loans and municipal project revenues.

At December 31, 2010, the six privately-issued CMO securities in loss positions had depreciated approximately 5.8% from the amortized cost basis and include securities collateralized by home equity lines of credit or other mortgage-related loan products.  All such investments except two securities with fair values totaling $723,000 and unrealized losses of $11,000 at December 31, 2010 continued to be rated by a nationally recognized statistical rating organization as investment grade assets.

The Company evaluates the existence of a potential credit loss component related to the decline in fair value of the privately-issued CMO portfolio each quarter using an independent third party analysis.  At December 31, 2010, the Company held ten privately-issued CMO securities with an aggregate amortized cost of $2.1 million and fair value of $2.8 million that have been downgraded to a substandard regulatory classification due to a downgrade of the security’s credit quality rating by various rating agencies.  Based on the independent third party analysis, the Bank expects to collect the contractual principal and interest cash flows for these securities and, as a result, no other-than-temporary impairment has been recognized on the privately-issued CMO portfolio.  While management does not anticipate a credit-related impairment loss at December 31, 2010, additional deterioration in market and economic conditions may have an adverse impact on the credit quality in the future.

The unrealized losses relate principally to current interest rates for similar types of securities.  In analyzing an issuer’s financial condition, management considers whether the securities are issued by the federal government, its agencies, or other governments, whether downgrades by bond rating agencies have occurred, and the results of reviews of the issuer’s financial condition.  As management has the ability to hold debt securities to maturity, or for the foreseeable future if classified as available for sale, no declines are deemed to be other-than-temporary.

During the three months ended December 31, 2010, the Company realized gross gains on sales of available for sale municipal securities of $68,000.

-9-

FIRST SAVINGS FINANCIAL GROUP, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

3.           Loans and Allowance for Loan Losses

Loans at December 31, 2010 and September 30, 2010 consisted of the following:

	December 31,			September 30,
	2010			2010
	(In thousands)
Real estate mortgage:
1-4 family residential	$	169,497		$	172,007
Multi-family residential		19,480			20,360
Commercial		56,569			53,869
Residential construction		13,986			15,867
Commercial construction		9,944			9,851
Land and land development		8,449			9,076
Commercial business loans		30,622			30,905
Consumer:
Home equity loans		16,211			16,335
Auto loans		12,297			13,405
Other consumer loans		6,708			7,030
Gross loans		343,763			348,705
Deferred loan origination fees and costs, net		754			778
Undisbursed portion of loans in process		(1,464	)		(2,057	)
Allowance for loan losses		(3,959	)		(3,811	)
Loans, net	$	339,094		$	343,615

During the three-month period ended December 31, 2010, there was no significant change in the Company’s lending activities or methodology used to estimate the allowance for loan losses as disclosed in the Company’s Annual Report on Form 10-K for the year ended September 30, 2010.

-10-

FIRST SAVINGS FINANCIAL GROUP, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

The following table provides the components of the recorded investment in loans for each portfolio class as of December 31, 2010:

	Residential Real Estate		Commercial Real Estate			Multifamily			Construction		Land & Land Development			Commercial Business			Consumer		Total
	(In thousands)
Principal loan balance	$	169,497	$	56,569		$	19,480		$	22,466	$	8,449		$	30,622		$	35,216	$	342,299
Accrued interest receivable		715		292			63			96		41			163			144		1,514
Net deferred loan origination fees and costs		713		(21	)		(6	)		39		(2	)		(14	)		45		754
Recorded investment in loans	$	170,925	$	56,840		$	19,537		$	22,601	$	8,488		$	30,771		$	35,405	$	344,567

-11-

FIRST SAVINGS FINANCIAL GROUP, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

An analysis of the allowance for loan losses and recorded investment in loans as of and for the three months ended December 31, 2010 is as follows:

	Residential Real Estate			Commercial Real Estate			Multifamily		Construction			Land & Land Development			Commercial Business			Consumer			Unallocated		Total
	(In thousands)
Allowance for Loan Losses:
Beginning balance	$	1,242		$	600		$	369	$	218		$	62		$	891		$	429		$	-	$	3,811
Provisions		174			301			181		(77	)		(33	)		(161	)		(33	)		-		352
Charge-offs		(213	)		(5	)		-		(8	)		-			-			(52	)		-		(278	)
Recoveries		-			-			-		-			-			57			17			-		74
Ending balance	$	1,203		$	896		$	550	$	133		$	29		$	787		$	361		$	-	$	3,959
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	69		$	249		$	-	$	59		$	-		$	-		$	23		$	-	$	400
Collectively evaluated for impairment		1,134			647			550		74			29			787			338			-		3,559
Acquired with deteriorated credit quality		-			-			-		-			-			-			-			-		-
Ending balance	$	1,203		$	896		$	550	$	133		$	29		$	787		$	361		$	-	$	3,959
Recorded Investment in Loans:
Individually evaluated for impairment	$	2,674		$	1,482		$	-	$	613		$	397		$	162		$	315				$	5,643
Collectively evaluated for impairment		167,474			54,797			19,537		21,939			8,091			30,556			35,046					337,440
Acquired with deteriorated credit quality		777		$	561			-		49			-			53			44					1,484
Ending balance	$	170,925		$	56,840		$	19,537	$	22,601		$	8,488		$	30,771		$	35,405				$	344,567

-12-

FIRST SAVINGS FINANCIAL GROUP, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

The following table presents impaired loans individually evaluated for impairment by class of loans as of December 31, 2010:

			Unpaid				Average		Interest		Interest
	Recorded		Principal		Related		Recorded		Income		Recognized –
	Investment		Balance		Allowance		Investment		Recognized		Cash Method
	(In thousands)
Loans with no related allowance recorded:
Residential real estate	$	2,335	$	2,318	$	-	$	2,348	$	9	$	10
Commercial real estate		987		981		-		1,078		2		-
Multifamily		-		-		-		-		-		-
Construction		354		351		-		487		1		-
Land and land development		397		397		-		199		-		1
Commercial business		162		161		-		253		1		1
Consumer		214		213		-		242		1		-
		4,449		4,421		-		4,607		14		12
Loans with an allowance recorded:
Residential real estate		339		338		69		652		-		-
Commercial real estate		495		495		249		247		-		-
Multifamily		-		-		-		-		-		-
Construction		259		259		59		200		-		-
Land and land development		-		-		-		-		-		-
Commercial business		-		-		-		-		-		-
Consumer		101		101		23		98		-		-
		1,194		1,193		400		1,197		-		-
Total:
Residential real estate		2,674		2,656		69		3,000		9		10
Commercial real estate		1,482		1,476		249		1,325		2		-
Multifamily		-		-		-		-		-		-
Construction		613		610		59		687		1		-
Land and land development		397		397		-		199		-		-
Commercial business		162		161		-		253		1		1
Consumer		315		314		23		340		1		1
	$	5,643	$	5,614	$	400	$	5,804	$	14	$	12

-13-

FIRST SAVINGS FINANCIAL GROUP, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

Nonperforming loans consists of nonaccrual loans and loans over 90 days past due and still accruing interest.  The following table presents the recorded investment in nonperforming loans by class of loans at December 31, 2010:

	Nonaccrual Loans		Loans 90+ Days Past Due Still Accruing		Total Nonperforming Loans
	(In thousands)
Residential real estate	$	2,176	$	498	$	2,674
Commercial real estate		1,391		91		1,482
Multifamily		-		-		-
Construction		482		131		613
Land and land development		397		-		397
Commercial business		53		109		162
Consumer		263		52		315
Total	$	4,762	$	881	$	5,643

The following table presents the aging of the recorded investment in past due loans at December 31, 2010 by class of loans:

	30-59 Days Past Due		60-89 Days Past Due		90+ Days Past Due		Total Past Due		Current		Total Loans
	(In thousands)
Residential real estate	$	5,212	$	2,132	$	1,971	$	9,315	$	161,610	$	170,925
Commercial real estate		716		53		1,163		1,932		54,908		56,840
Multifamily		32		-		-		32