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About First Capital Inc (FCAP)
First Capital Inc (NASDAQ: FCAP) is a financial holding company headquartered in Corydon, Indiana. The company operates through its primary subsidiary, First Harrison Bank, a federally-chartered savings bank that provides a comprehensive range of banking and financial services. With a focus on community banking, First Capital Inc serves both individual and business customers across its regional footprint in the United States, offering tailored financial solutions designed to meet diverse needs.
Core Business Operations
First Capital Inc’s business model is centered on traditional banking services, which include deposit products, lending solutions, and other financial services. The company generates revenue primarily through interest income from its loan portfolio and fees associated with its banking products. Its loan offerings are diverse, encompassing:
- Residential Loans: Home purchase and refinancing options for individuals seeking to invest in real estate.
- Construction Loans: Financing for residential and commercial construction projects.
- Commercial Real Estate Loans: Loans tailored to businesses for purchasing or developing real estate properties.
- Commercial Business Loans: Credit solutions for small and medium-sized enterprises (SMEs) to support operational and growth needs.
- Consumer Loans: Including home equity loans, second mortgages, and vehicle loans for personal use.
Additionally, First Harrison Bank offers a variety of deposit products such as savings accounts, checking accounts, and certificates of deposit, providing customers with secure and accessible options for managing their finances.
Market Position and Differentiation
Operating within the competitive landscape of U.S. regional banking, First Capital Inc differentiates itself through its commitment to personalized, community-focused service. Unlike larger national banks, First Harrison Bank emphasizes building long-term relationships with its customers, leveraging local market knowledge to deliver customized financial solutions. This approach fosters trust and loyalty among its client base, positioning the company as a reliable financial partner within its operating regions.
Industry Context and Challenges
The regional banking sector in the United States is characterized by intense competition, evolving regulatory requirements, and economic pressures such as interest rate fluctuations. First Capital Inc navigates these challenges by maintaining a strong focus on prudent risk management and operational efficiency. Its emphasis on customer-centric banking enables it to compete effectively against both larger national banks and other regional institutions.
Comprehensive Financial Solutions
Beyond its core banking services, First Harrison Bank likely provides additional financial products and services to enhance customer experience. These may include online and mobile banking platforms, financial advisory services, and tools for managing personal and business finances. This diversified service portfolio ensures that First Capital Inc can meet the evolving needs of its customers while maintaining a competitive edge in the market.
Conclusion
First Capital Inc (FCAP) exemplifies the principles of community banking by delivering tailored financial solutions and fostering strong relationships with its customers. Through its subsidiary, First Harrison Bank, the company addresses a wide range of financial needs, from residential and commercial lending to everyday banking services. Its localized approach, combined with a commitment to operational excellence, positions First Capital Inc as a key player in the U.S. regional banking sector.
First Capital (NASDAQ:FCAP), the holding company for First Harrison Bank, has announced its annual meeting of stockholders will take place on Wednesday, May 21, 2025. The bank operates through eighteen branches across Indiana and Kentucky communities, including Corydon, Edwardsville, Greenville, Floyds Knobs, Palmyra, New Albany, New Salisbury, Jeffersonville, Salem, Lanesville, Charlestown, Shepherdsville, Mt. Washington, and Lebanon Junction.
Customers can access their accounts and services, including online banking and electronic bill payments, through the bank's website at firstharrison.com.
First Capital (NASDAQ: FCAP) has announced a quarterly cash dividend of $0.29 per share of common stock. The dividend will be paid on March 28, 2025 to shareholders of record as of March 14, 2025.
First Capital is the holding company for First Harrison Bank, which operates eighteen branches across Indiana and Kentucky communities. The bank maintains offices in various locations including Corydon, New Albany, Jeffersonville, Salem, and Shepherdsville, providing banking services and online access through their website.
First Capital (NASDAQ: FCAP) reported net income of $11.9 million ($3.57 per diluted share) for 2024, compared to $12.8 million ($3.82 per diluted share) in 2023. The company's net interest income after provision for credit losses increased by $894,000 year-over-year.
Key financial metrics include: Interest income increased by $6.9 million, with tax-equivalent yield rising from 3.96% to 4.49%. Interest expense grew by $5.7 million as average cost of interest-bearing liabilities increased from 1.11% to 1.73%. The tax-equivalent net interest margin improved slightly from 3.16% to 3.20%.
Total assets reached $1.19 billion by December 31, 2024, up from $1.16 billion in 2023. Deposits increased by $41.2 million to $1.07 billion. Notably, nonperforming assets increased from $1.8 million to $4.5 million, primarily due to two commercial loan relationships totaling $2.6 million being classified as nonaccrual.
First Capital (NASDAQ: FCAP) has announced a quarterly cash dividend of $0.29 per share of common stock. The dividend will be paid on December 27, 2024 to shareholders of record as of December 13, 2024. First Capital operates through First Harrison Bank, which maintains eighteen branches across Indiana and Kentucky communities, including Corydon, New Albany, Jeffersonville, and Shepherdsville.
First Capital (NASDAQ: FCAP) reported net income of $2.9 million ($0.87 per diluted share) for Q3 2024, compared to $3.1 million ($0.94 per diluted share) in Q3 2023. Net interest income after provision for credit losses increased by $415,000. Interest income rose $2.0 million due to higher average yield on interest-earning assets (4.53% vs 3.96%). The net interest margin improved to 3.12% from 3.02%. Noninterest income decreased $147,000, while noninterest expense increased $543,000. Total assets reached $1.19 billion, with deposits stable at $1.03 billion. Nonperforming assets increased to $4.5 million from $1.8 million at year-end 2023.
First Capital, Inc. (NASDAQ: FCAP) has announced a 7.4% increase in its quarterly cash dividend. The new dividend of $0.29 per share will be paid on September 27, 2024, to shareholders of record as of September 13, 2024. This represents a $0.02 increase from the previous dividend of $0.27 paid on June 28, 2024.
President and CEO Michael C. Frederick attributed the increase to First Capital's continued profitability and commitment to returning capital to shareholders. First Capital is the holding company for First Harrison Bank, which operates 18 offices across Indiana and Kentucky communities.
First Capital, Inc. (NASDAQ: FCAP) reported net income of $2.8 million, or $0.85 per diluted share, for Q2 2024, compared to $2.7 million, or $0.82 per diluted share, in Q2 2023. Key highlights include:
- Net interest income after provision for credit losses increased by $335,000
- Interest income rose by $1.6 million due to higher average tax-equivalent yield
- Interest expense increased by $1.3 million
- Tax-equivalent net interest margin improved from 3.06% to 3.15%
- Noninterest income increased by $160,000
- Noninterest expense rose by $334,000
For the first half of 2024, net income was $5.8 million, or $1.73 per diluted share, compared to $6.5 million, or $1.95 per diluted share, in the same period of 2023. Total assets remained stable at $1.16 billion, while deposits decreased by $11.0 million to $1.01 billion.
The Board of Directors of First Capital (NASDAQ: FCAP) has announced a quarterly cash dividend of $0.27 per share of common stock. This dividend will be payable on June 28, 2024, to shareholders recorded by June 14, 2024. First Capital is the parent company of First Harrison Bank, which operates eighteen offices across various Indiana and Kentucky communities. The bank offers online banking and electronic bill payments via their website.
First Capital, Inc., the holding company for First Harrison Bank, reported net income of $3.0 million for Q1 2024, compared to $3.8 million in Q1 2023. Interest income increased, but interest expense rose, leading to a decrease in net interest income. Noninterest income and total assets remained stable, while nonperforming assets decreased. The Bank's effective tax rate improved, and deposits decreased slightly.
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