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First Savings Financial Group, Inc. Announces Anticipated Closing Date of Initial Public Offering

CLARKSVILLE, Ind.-(Business Wire)-October 3, 2008 - First Savings Financial Group, Inc. (the “Company”), the proposed holding company for First Savings Bank, F.S.B. (the “Bank”), announced today that it has received final regulatory approval to close its initial public offering in connection with the Bank’s conversion from the mutual to stock form of organization. Closing is expected to occur on October 6, 2008, and trading in the Company’s shares of common stock is expected to begin on The Nasdaq Capital Market on October 7, 2008 under the symbol “FSFG”.

A total of 2,432,042 shares of common stock were sold at $10.00 per share in the subscription and community offering to certain depositors of the Bank, the Bank’s employee stock ownership plan and the general public. In addition, the Company contributed an additional 110,000 shares of common stock and $100,000 in cash to First Savings Charitable Foundation, a newly-formed charitable foundation dedicated to community activities and the promotion of charitable causes in the Bank’s market area. On September 25, 2008, the Bank’s depositors approved the Bank’s Plan of Conversion and the establishment and funding of First Savings Charitable Foundation at a special meeting.

Larry W. Myers, President and Chief Executive Officer of First Savings Financial Group, Inc. and First Savings Bank, F.S.B. said “On behalf of our directors, officers and employees, we wish to express our sincere appreciation to our customers for their support of our conversion and our charitable foundation and for their participation in the stock offering. We look forward to the enhanced opportunities that we believe the conversion and the charitable foundation will afford us in serving the needs of our customers and community, and we welcome the new stockholders of First Savings Financial Group, Inc.”

Keefe, Bruyette & Woods, Inc. acted as financial advisor to First Savings Financial Group, Inc. and Kilpatrick Stockton LLP acted as legal counsel to the Company.

First Savings Bank, F.S.B. is a federally-chartered savings bank headquartered in Clarksville, Indiana. At June 30, 2008, the Bank had total assets of $215.4 million, total deposits of $176.4 million and total equity of $29.3 million. First Savings Bank, F.S.B. is a community-oriented financial institution offering financial services within its local communities through its main office and six branch offices located in Clark and Floyd Counties in Indiana.

This press release contains certain forward-looking statements about First Savings Bank, F.S.B.’s conversion and the related stock offering by First Savings Financial Group, Inc. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words like “believe,” “expect,” “anticipate,” “estimate” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could” or “may.” Certain factors that could cause actual results to differ materially from expected results include, but are not limited to, changes in the interest rate environment, changes in general economic conditions, legislative and regulatory changes that adversely affect the business of First Savings Financial Group, Inc. and First Savings Bank, F.S.B., and changes in the securities markets.

The common stock of First Savings Financial Group, Inc. is not a deposit account or savings account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

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