FIRST CAPITAL INC

Listed Company

FCAPCIK 0001070296NasdaqNon-AcceleratedSmaller ReportingSavings Institution, Federally CharteredIndianaFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$16.37M

Total Assets

$1.27B

Equity

$137.80M

Shares Out

3.35M

Op. Cash Flow

$21.28M

Business

First Capital Inc is a financial holding company that owns First Harrison Bank and conducts banking operations through its wholly owned bank subsidiary. It offers deposit accounts and a broad range of lending products, including residential mortgages (fixed and adjustable), construction loans, commercial real estate and commercial business loans, consumer loans, mortgage banking services for loans sold into the secondary market, and investment securities and borrowing facilities. Key business units include the Bank and its investment and holding subsidiaries that manage securities and mortgage portfolios. The company serves customers through branch offices in Harrison, Floyd, Clark and Washington counties in Indiana and Bullitt County, Kentucky, and through secondary market channels and FHLB/wholesale funding sources.

Summary from filing dated 2025-03-31

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans, including fees	41	38	33	25	24
Taxable	9	7	6	4	3
Tax-exempt	3	3	3	3	3
Dividends	103,000	88,000	58,000	22,000	16,000
Interest bearing deposits with banks	5	3	1	—	—
Total interest income	57	50	44	34	29
Deposits	15	13	8	2	1
Advances - FHLB	—	99,000	340,000	0	0
"Borrowed funds - Bank Term Funding Program (""BTFP"")"	—	1	436,000	0	0
Total interest expense	15	15	9	2	—
Net interest income	42	36	35	32	28
Provision for credit losses	1	1	1	950,000	−325,000
Net interest income after provision for credit losses	41	34	33	31	29
Noninterest income, financial services	7	7	7	7	6
(Loss) gain on sale of securities	−94,000	32,000	40,000	0	7,000
Unrealized gain (loss) on equity securities	149,000	−374,000	−207,000	−414,000	328,000
Gain on sale of loans	792,000	554,000	421,000	833,000	2
Increase in cash surrender value of life insurance	222,000	224,000	206,000	201,000	219,000
Other income	406,000	351,000	340,000	262,000	231,000
Total noninterest income	8	8	8	8	10
Compensation and benefits	17	16	15	15	15
Occupancy and equipment	2	2	2	2	2
Data processing	5	5	4	4	3
Professional fees	1	1	693,000	746,000	1
Advertising	482,000	357,000	329,000	353,000	354,000
Other expenses	4	4	4	4	3
Total noninterest expense	30	28	26	25	25
Income before income taxes	20	14	15	—	—
Income tax expense	4	2	2	2	2
Net Income	16	12	13	12	11
Less: net income attributable to noncontrolling interest in subsidiary	13,000	13,000	13,000	13,000	13,000
Net Income Attributable to First Capital, Inc.	16	12	13	12	11
Basic (in dollars per share)	4.89	3.57	3.82	3.55	3.41
Diluted (in dollars per share)	4.89	3.57	3.82	3.55	3.41
Dividends per share	1.2	1.12	1.08	1.04	1.04

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2024 2024-07-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash and due from banks	27	18	—	20	25
Interest bearing deposits with banks	110	87	—	3	4
Total cash and cash equivalents	137	106	—	39	66
Interest-bearing time deposits	1	3	—	4	4
Securities available for sale, at fair value (amortized cost $432,167 and $418,935, respectively)	417	389	—	437	461
Securities held to maturity, at amortized cost (fair value $5,243 and $4,591, respectively)	7	7	2	7	7
Loans held for sale	1	472,000	—	800,000	793,000
Loans, net of allowance for credit losses of $10,108 ($9,281 in 2024)	654	631	—	614	558
Federal Home Loan Bank and other stock, at cost	2	2	—	2	2
Premises and equipment	14	14	—	14	15
Accrued interest receivable	5	5	—	5	4
Cash value of life insurance	9	9	—	9	9
Goodwill	6	6	—	6	6
Core deposit intangible	0	86,000	—	232,000	379,000
Other assets	17	15	—	19	18
Total Assets	1,272	1,188	—	1,158	1,151
Noninterest-bearing	220	198	—	206	255
Interest-bearing	903	868	—	820	806
Total deposits	1,123	1,066	—	1,025	1,060
Accrued interest payable	2	2	—	1	123,000
Accrued expenses and other liabilities	9	4	—	5	6
Total liabilities	1,134	1,073	—	1,053	1,066
Preferred stock of $.01 par value per share Authorized 1,000,000 shares; none issued	0	0	—	0	0
Common stock of $.01 par value per share Authorized 7,500,000 shares; issued 3,810,883 shares (3,806,983 in 2024); outstanding 3,341,871 (3,351,703 in 2024)	38,000	38,000	—	38,000	38,000
Additional paid-in capital	42	42	—	42	42
Retained earnings-substantially restricted	118	105	—	97	88
Unearned stock compensation	−178,000	−135,000	—	−249,000	−549,000
Accumulated other comprehensive loss	−12	−23	—	−24	−36
Less treasury stock, at cost - 469,012 shares (455,280 in 2024)	−10	−9	—	−9	−9
Total First Capital, Inc. stockholders' equity	138	115	—	105	85
Noncontrolling interest in subsidiary	112,000	112,000	—	112,000	112,000
Total equity	138	115	—	105	85
Total Liabilities and Equity	1,272	1,188	—	1,158	1,151

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Amortization of premiums and accretion of discounts on securities, net	736,000	1	2	2	2
Depreciation and amortization expense	1	1	1	1	1
Deferred income taxes	−900,000	−551,000	−698,000	−118,000	−131,000
Stock compensation expense	104,000	202,000	252,000	436,000	487,000
Gain on life insurance	−47,000	—	—	—	—
Loss (gain) on sale of securities	94,000	−32,000	−40,000	0	−7,000
Proceeds from sales of loans	42	34	32	52	136
Loans originated for sale	−42	−33	−32	−49	−128
Amortization of tax credit investment	3	2	2	355,000	355,000
Unrealized (gain) loss on equity securities	−149,000	374,000	207,000	414,000	−328,000
Loss (gain) on disposal of premises and equipment	12,000	−7,000	0	0	—
(Increase) decrease in accrued interest receivable	−525,000	213,000	−503,000	−855,000	4,000
Increase in accrued interest payable	273,000	713,000	1	26,000	−56,000
Net change in other assets/liabilities	1	4	−4	−1	2
Net Cash Provided By Operating Activities	21	22	14	17	22
Net decrease (increase) in interest-bearing time deposits	1	1	−243,000	1	2
Purchase of securities available for sale	−138	−62	−37	−94	−252
Proceeds from maturities of securities available for sale	67	63	38	8	42
Proceeds from sales of securities available for sale	18	19	21	0	2
Principal collected on mortgage-backed obligations	39	28	16	22	36
Proceeds from sale of equity securities	—	0	156,000	0	0
Net increase in loans receivable	−24	−18	−58	−76	17
Investment in tax credit entities	−4	−2	−2	0	−280,000
Investment in technology fund	−89,000	−115,000	−250,000	−100,000	−120,000
Proceeds from settlement of bank-owned life insurance policies	605,000	—	—	—	—
Proceeds from sale of foreclosed real estate	—	0	64,000	39,000	45,000
Proceeds from sale of premises and equipment	—	7,000	0	0	65,000
Proceeds from insurance claims	159,000	—	—	—	—
Purchase of premises and equipment	−1	−717,000	−627,000	−415,000	−288,000
Net Cash (Used In) Provided By Investing Activities	−42	29	−24	−144	−156
Net increase (decrease) in deposits	57	41	−35	25	135
Advances from FHLB and BTFP	—	168	355	0	0
Repayment of advances from the FHLB and BTFP	—	−189	−333	—	—
Purchase of treasury stock	−578,000	−41,000	−502,000	0	−40,000
Taxes paid on stock award shares for employees	−17,000	−23,000	−23,000	−26,000	−85,000
Dividends paid	−4	−4	−4	−4	−4
Net Cash Provided By (Used In) Financing Activities	52	16	−18	21	131
Net Increase (Decrease) in Cash and Cash Equivalents	31	67	−28	−106	−3

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