First Capital Q2 profit rises to $4.8 million

First Capital, Inc., holding company for First Harrison Bank, reported stronger profitability for the quarter ended June 30, 2026.

Rhea-AI Filing Summary

First Capital, Inc., holding company for First Harrison Bank, reported stronger profitability for the quarter ended June 30, 2026. Net income was $4.8 million, or $1.43 per diluted share, compared with $3.8 million, or $1.13 per diluted share, a year earlier. For the first six months of 2026, net income was $9.1 million, or $2.72 per diluted share, versus $7.0 million, or $2.09 per diluted share, in 2025.

Net interest income after provision for credit losses increased $1.6 million year over year for the quarter, driven by higher yields on interest-earning assets and a lower average cost of interest-bearing liabilities. On a tax-equivalent basis, the net interest margin rose to 3.98% from 3.59%. Noninterest income improved, helped by gains on equity securities, while noninterest expenses rose due to higher compensation, advertising and other operating costs. The provision for credit losses increased to $425,000, and nonperforming assets rose to $4.9 million from $4.4 million. Total assets were $1.29 billion and deposits $1.14 billion at June 30, 2026, and the Bank’s Community Bank Leverage Ratio was 11.34%.

Positive

• Quarterly net income rose to $4.8 million ($1.43 per diluted share) from $3.8 million ($1.13 per share), with tax-equivalent net interest margin expanding to 3.98% and six-month net income reaching $9.1 million.

Negative

• Provision for credit losses increased to $425,000 in Q2 2026 from $306,000, and nonperforming assets rose to $4.9 million from $4.4 million, alongside higher noninterest expenses.

Filing Explained

The Form 8-K reports that First Capital sold $18.7 million of available-for-sale securities during the six months ended June 30, 2026, recognizing a $92,000 loss; the completed sale reduced that portfolio as the company repositioned it for potentially higher future yields.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Q2 2026 net income: $4.8 million Q2 2026 diluted EPS: $1.43 Six-month 2026 net income: $9.1 million +5 more

8 metrics

Q2 2026 net income $4.8 million For the quarter ended June 30, 2026, compared to $3.8 million in Q2 2025

Q2 2026 diluted EPS $1.43 Quarter ended June 30, 2026, up from $1.13 a year earlier

Six-month 2026 net income $9.1 million Six months ended June 30, 2026, versus $7.0 million in the 2025 period

Tax-equivalent net interest margin Q2 2026 3.98% Quarter ended June 30, 2026; increased from 3.59% in Q2 2025

Total assets $1.29 billion Balance at June 30, 2026, compared to $1.27 billion at December 31, 2025

Deposits $1.14 billion Deposits at June 30, 2026, up from $1.12 billion at December 31, 2025

Nonperforming assets $4.9 million Increased from $4.4 million between December 31, 2025 and June 30, 2026

Community Bank Leverage Ratio 11.34% Bank regulatory capital ratio at June 30, 2026

Key Terms

Allowance for Credit Losses, net interest margin, nonperforming assets, Community Bank Leverage Ratio, +1 more

5 terms

Allowance for Credit Losses financial

"Based on management’s analysis of the Allowance for Credit Losses on loans"

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

net interest margin financial

"As a result, the tax-equivalent net interest margin increased from 3.59% to 3.98%"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

nonperforming assets financial

"Nonperforming assets (consisting of nonaccrual loans, accruing loans 90 days or more past due, and foreclosed real estate)"

Nonperforming assets are loans or investments that are not generating expected payments or returns because the borrower has fallen behind on payments or the investment has lost value. They matter to investors because a high level of nonperforming assets can indicate financial trouble for a bank or institution, potentially affecting its stability and profitability.

Community Bank Leverage Ratio regulatory

"Regulatory capital ratios (Bank only): Community Bank Leverage Ratio 11.34%"

Community bank leverage ratio is a regulatory measure that compares a bank’s core capital (its safety cushion) to the size of its balance sheet, showing what share of assets is backed by tangible equity rather than borrowed money. Investors use it like a health check: a higher ratio means the bank has more buffer to absorb losses, support lending and dividends, and face fewer regulatory limits, while a lower ratio signals greater risk.

tax-equivalent basis financial

"Tax-exempt income has been adjusted to a tax-equivalent basis using the federal marginal tax rate of 21%"

A tax-equivalent basis is a way to compare investments by converting a tax-free return into the taxable return you would need to receive the same after-tax income, using your marginal tax rate. It matters to investors because it lets you compare dissimilar securities — for example, a tax-exempt bond versus a taxable bond — on an equal footing, much like converting different currencies to the same money before comparing prices.

Earnings Snapshot

Q2 2026 net income: $4.8 million

Quarter and six months ended June 30, 2026

Q2 2026 net income $4.8 million compared to $3.8 million in Q2 2025

Q2 2026 diluted EPS $1.43 compared to $1.13 in Q2 2025

Six-month 2026 net income $9.1 million compared to $7.0 million for the six months ended June 30, 2025

Tax-equivalent net interest margin Q2 2026 3.98% increased from 3.59% in Q2 2025

Return on average assets Q2 2026 1.49% up from 1.24% in Q2 2025

FAQ

What were First Capital (FCAP) earnings for the quarter ended June 30, 2026?

First Capital (FCAP) reported net income of $4.8 million, or $1.43 per diluted share, for Q2 2026, compared with $3.8 million, or $1.13 per diluted share, for the same quarter in 2025, reflecting higher net interest income and improved margins.

How did First Capital (FCAP) perform for the first half of 2026?

For the six months ended June 30, 2026, First Capital (FCAP) generated net income of $9.1 million, or $2.72 per diluted share, compared with $7.0 million, or $2.09 per diluted share, for the 2025 period, driven by stronger net interest income and higher noninterest income.

How did net interest margin and spreads change for FCAP in Q2 2026?

In Q2 2026, FCAP’s tax-equivalent net interest margin was 3.98%, up from 3.59% a year earlier, while the tax-equivalent interest rate spread improved to 3.56% from 3.18%, reflecting higher yields on interest-earning assets and a reduced average cost of interest-bearing deposits.

What were First Capital’s (FCAP) assets and deposits as of June 30, 2026?

As of June 30, 2026, First Capital reported total assets of $1.29 billion and deposits of $1.14 billion, up from $1.27 billion and $1.12 billion, respectively, at December 31, 2025, indicating moderate balance sheet and funding growth over the period.

What were FCAP’s credit quality trends in the first half of 2026?

FCAP’s provision for credit losses rose to $775,000 for the first half of 2026, from $644,000 a year earlier. Nonperforming assets increased from $4.4 million to $4.9 million, while net charge-offs were $169,000 versus $197,000, indicating modest but manageable credit costs.

What dividends did First Capital (FCAP) pay in 2026 so far?

First Capital paid cash dividends of $0.31 per share in Q2 2026, compared with $0.29 a year earlier. For the six months ended June 30, 2026, total dividends were $0.62 per share, up from $0.58 in the comparable 2025 period.

How well-capitalized is First Capital’s bank subsidiary as of June 30, 2026?

First Harrison Bank, the subsidiary of First Capital, reported a Community Bank Leverage Ratio of 11.34% at June 30, 2026, compared with 11.01% at December 31, 2025, indicating a strong regulatory capital position under the CBLR framework.

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Available on EDGAR 07/24/2026 - 04:45 PM Accepted by SEC EDGAR 07/24/2026 - 04:45 PM Learn about SEC filing dates

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  July 24, 2026

FIRST CAPITAL, INC.

(Exact name of registrant as specified in its charter)

	​		​
Indiana	​	0-25023	​	35-2056949
(State or Other Jurisdiction of Incorporation)	​	(Commission File Number)	​	(I.R.S. Employer Identification No.)

​

220 Federal Drive N.W.

Corydon, Indiana 47112

(Address of Principal Executive Offices) (Zip Code)

(812) 738-2198

(Registrant's telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

​

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	​	Trading Symbol(s)	​	Name of each exchange on which registered
Common stock, par value $0.01 per share	​	FCAP	​	The NASDAQ Stock Market LLC

​

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

​

​

Item 2.02. Results of Operations and Financial Condition.

On July 24, 2026, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

Exhibit 99.1		Press Release dated July 24, 2026
Exhibit 104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

​

​

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	FIRST CAPITAL, INC.
Date: July 24, 2026	By:	/s/ Joshua P. Stevens
		Joshua P. Stevens
		Executive Vice President and Chief Financial Officer

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​

​

Exhibit 99.1

FIRST CAPITAL, INC. REPORTS QUARTERLY EARNINGS

Corydon, Indiana — (BUSINESS WIRE) — July 24, 2026.  First Capital, Inc. (the “Company”) (NASDAQ:  FCAP), the holding company for First Harrison Bank (the “Bank”), today reported net income of $4.8 million, or $1.43 per diluted share, for the quarter ended June 30, 2026, compared to net income of $3.8 million, or $1.13 per diluted share, for the quarter ended June 30, 2025.

​

​

Results of Operations for the Three Months Ended June 30, 2026 and 2025

​

Net interest income after provision for credit losses increased $1.6 million for the quarter ended June 30, 2026 compared to the same period in 2025.  Interest income increased $1.6 million when comparing the two periods due to an increase in the average tax-equivalent yield⁽¹⁾ on interest-earning assets from 4.82% for the second quarter of 2025 to 5.12% for the same period in 2026, in addition to an increase in the average balance of interest-earning assets from $1.18 billion for the second quarter of 2025 to $1.24 billion for the same period in 2026.  Interest expense decreased $93,000 when comparing the periods as the average cost of interest-bearing liabilities decreased from 1.64% for the quarter ended June 30, 2025 to 1.56% for the same period in 2026 while the average balance of interest-bearing liabilities increased from $883.8 million for the quarter ended June 30, 2025 to $907.3 million for the same period in 2026.  As a result of the changes in interest-earning assets and interest-bearing liabilities, the tax-equivalent net interest margin⁽¹⁾ increased from 3.59% for the quarter ended June 30, 2025 to 3.98% for the same period in 2026. Refer to the accompanying average balance sheet for more information regarding changes in the composition of the Company’s balance sheet and resulting yields and costs from the quarter ended June 30, 2025 to the quarter ended June 30, 2026.

​

Based on management’s analysis of the Allowance for Credit Losses (“ACL”) on loans and unfunded loan commitments, the provision for credit losses increased from $306,000 for the quarter ended June 30, 2025 to $425,000 for the quarter ended June 30, 2026.  The Bank recognized net charge-offs of $58,000 and $113,000 for the quarters ended June 30, 2026 and 2025, respectively.

​

Noninterest income increased $187,000 for the quarter ended June 30, 2026 as compared to the quarter ended June 30, 2025.  The increase is primarily due to the Company recognizing a $92,000 gain on equity securities during the quarter ended June 30, 2026 compared to a loss of $41,000 during the same period in 2025.  In addition, the Company recognized an increase of $54,000 in service charges on deposit accounts when comparing the two periods.  

​

Noninterest expenses increased $359,000 for the quarter ended June 30, 2026 as compared to the same period in 2025. This was primarily due to increases in compensation and benefits, advertising, and other expenses of $235,000, $84,000 and $79,000, respectively, when comparing the two periods.  The increase in compensation and benefits is due to increases in salary and wages associated with annual cost of living and performance related adjustments as well as increases in the cost of Company-provided health insurance benefits.  The increase in advertising expenses is related to various new marketing campaigns undertaken during the quarter ended June 30, 2026.  The increase in other expenses was primarily due to general inflationary pressures and routine pricing increases rather than any specific item.  These increases were partially offset by a $75,000 decrease in professional services when comparing the two periods due to fewer consulting fees during the quarter ended June 30, 2026.  

​

Income tax expense increased $397,000 for the quarter ended June 30, 2026 as compared to the same period in 2025 resulting in an effective tax rate of 20.8% for the quarter ended June 30, 2026, compared to 18.4% for the same period in 2025.  The increase in the Company’s effective tax rate for the quarter ended June 30, 2026 reflects a higher proportion of net income being subject to taxation compared to the same period last year.

​

Results of Operations for the Six Months Ended June 30, 2026 and 2025

​

For the six months ended June 30, 2026, the Company reported net income of $9.1 million, or $2.72 per diluted share, compared to net income of $7.0 million, or $2.09 per diluted share, for the same period in 2025.

​

Net interest income after provision for credit losses increased $3.4 million for the six months ended June 30, 2026 compared to the same period in 2025.  Interest income increased $3.2 million when comparing the two periods due to an increase in the average tax-equivalent yield⁽¹⁾ on interest-earning assets from 4.73% for the six months ended June 30, 2025 to 5.04% for the same period in 2026, in addition to an increase in the average balance of interest-earning assets from $1.18 billion for the six months ended June 30, 2025 to $1.23 billion for the same period in 2026.  Interest expense decreased $352,000 when comparing the periods as the average cost of interest-bearing liabilities decreased from 1.67% for the six months ended June 30, 2025 to 1.56% for the same period in 2026 while the average balance of interest-bearing liabilities increased from $883.2 million for the six months ended June 30, 2025 to $904.4 million for the same period in 2026.  As a result of the changes in interest-earning assets and interest-bearing liabilities, the tax-equivalent net interest margin⁽¹⁾ increased from 3.47% for the six months ended June 30, 2025 to 3.90% for the same period in 2026. Refer to the accompanying average balance sheet for more information regarding changes in the composition of the Company’s balance sheet and resulting yields and costs from the six months ended June 30, 2025 to the six months ended June 30, 2026.

​

​

⁽¹⁾ Reconciliations of the non–U.S. Generally Accepted Accounting Principles (“GAAP”) measures are set forth at the end of this press release.

Based on management’s analysis of the ACL on loans and unfunded loan commitments, the provision for credit losses increased from $644,000 for the six months ended June 30, 2025 to $775,000 for the six months ended June 30, 2026.  The Bank recognized net charge-offs of $169,000 and $197,000 for the six months ended June 30, 2026 and 2025, respectively.

​

Noninterest income increased $387,000 for the six months ended June 30, 2026 as compared to the six months ended June 30, 2025.  The increase is primarily due to the Company recognizing a $270,000 gain on equity securities during the six months ended June 30, 2026 compared to a loss of $23,000 during the same period in 2025.  In addition, the Company recognized increases of $70,000 and $53,000 in ATM and debit card fee income and service charges on deposit accounts, respectively, when comparing the two periods.  These increases were partially offset by the Company recognizing a $92,000 loss on sale of available for sale securities for the six months ended June 30, 2026 compared to a loss of $55,000 for the same period in 2025.  The loss on sale of available for sale securities during the six months ended June 30, 2026 was a result of management’s decision to sell $18.7 million of available for sale securities to better position the Company’s investment portfolio for increased future yields.

​

Noninterest expenses increased $931,000 for the six months ended June 30, 2026 as compared to the same period in 2025. This was primarily due to increases in compensation and benefits, other expenses, professional services, and advertising expenses of $470,000, $178,000, $166,000 and $82,000, respectively, when comparing the two periods.  The increase in compensation and benefits is due to increases in salary and wages associated with annual cost of living and performance related adjustments as well as increases in the cost of Company-provided health insurance benefits.  The increase in other expenses is primarily due to an increase in consumer fraud losses and increased support of the Company’s local communities through sponsorships and donations during the six months ended June 30, 2026 as compared to the same period in 2025.  The increase in professional services is due to increased consulting fees.  The increase in advertising expenses is related to various new marketing campaigns undertaken during the six months ended June 30, 2026 as compared to the same period in 2025.

​

Income tax expense increased $755,000 for the six months ended June 30, 2026 as compared to the same period in 2025 resulting in an effective tax rate of 20.0% for the six months ended June 30, 2026, compared to 17.9% for the same period in 2025.  The increase in the Company’s effective tax rate for the six months ended June 30, 2026 reflects a higher proportion of net income being subject to taxation compared to the same period last year.

​

Comparison of Financial Condition at June 30, 2026 and December 31, 2025

​

Total assets were $1.29 billion at June 30, 2026 compared to $1.27 billion at December 31, 2025.  Net loans receivable and cash and cash equivalents increased $14.0 million and $12.5 million, respectively, from December 31, 2025 to June 30, 2026. These increases were partially offset by a decrease of $10.3 million in available for sale securities when comparing the two periods.  Deposits increased $13.7 million from $1.12 billion at December 31, 2025 to $1.14 billion at June 30, 2026.  Nonperforming assets (consisting of nonaccrual loans, accruing loans 90 days or more past due, and foreclosed real estate) increased from $4.4 million at December 31, 2025 to $4.9 million at June 30, 2026.

​

The Bank currently has 17 offices in the Indiana communities of Corydon, Edwardsville, Greenville, Floyds Knobs, Palmyra, New Albany, New Salisbury, Jeffersonville, Salem, Lanesville and Charlestown and the Kentucky communities of Shepherdsville, Mt. Washington and Lebanon Junction.

​

Access to First Harrison Bank accounts, including online banking and electronic bill payments, is available through the Bank’s website at www.firstharrison.com. For more information and financial data about the Company, please visit Investor Relations at the Bank’s aforementioned website. The Bank can also be followed on Facebook.

​

Cautionary Note Regarding Forward-Looking Statements

​

This press release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of the words “anticipate,” “believe,” “expect,” “intend,” “could” and “should,” and other words of similar meaning. Forward-looking statements are not historical facts nor guarantees of future performance; rather, they are statements based on the Company’s current beliefs, assumptions, and expectations regarding its business strategies and their intended results and its future performance.

​

Numerous risks and uncertainties could cause or contribute to the Company’s actual results, performance and achievements to be materially different from those expressed or implied by these forward-looking statements. Factors that may cause or contribute to these differences include, without limitation, general economic conditions, including changes in market interest rates and changes in monetary and fiscal policies of the federal government; competition; the ability of the Company to execute its business plan; legislative and regulatory changes; the quality and composition of the loan and investment portfolios; loan demand; deposit flows; changes in accounting principles and guidelines; and other factors disclosed periodically in the Company’s filings with the Securities and Exchange Commission.

​

Because of the risks and uncertainties inherent in forward-looking statements, readers are cautioned not to place undue reliance on them, whether included in this press release, the Company’s reports, or made elsewhere from time to time by the Company or on its behalf. These forward-looking statements are made only as of the date of this press release, and the Company assumes no obligation to update any forward-looking statements after the date of this press release.

​

Contact:

Joshua P. Stevens

Chief Financial Officer

812-738-1570

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FIRST CAPITAL, INC. AND SUBSIDIARIES

Consolidated Financial Highlights (Unaudited)

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Three Months Ended

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Six Months Ended

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June 30,

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June 30,

OPERATING DATA

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2026

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2025

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2026

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2025

(Dollars in thousands, except per share data)

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Total interest income

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$

15,622

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$

14,040

​

$

30,546

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$

27,386

Total interest expense

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​

3,535

​

​

3,628

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​

7,041

​

​

7,393

Net interest income

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​

12,087

​

​

10,412

​

​

23,505

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​

19,993

Provision for credit losses

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​

425

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​

306

​

​

775

​

​

644

Net interest income after provision for credit losses

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​

11,662

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​

10,106

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​

22,730

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​

19,349

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​

​

​

​

​

​

​

​

​

​

​

​

Total non-interest income

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​

2,205

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​

2,018

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​

4,253

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​

3,866

Total non-interest expense

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​

7,853

​

​

7,494

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​

15,606

​

​

14,675

Income before income taxes

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​

6,014

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​

4,630

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​

11,377

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​

8,540

Income tax expense

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​

1,249

​

​

852

​

​

2,279

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​

1,524

Net income

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​

4,765

​

​

3,778

​

​

9,098

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​

7,016

Less net income attributable to the noncontrolling interest

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​

3

​

​

3

​

​

6

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6

Net income attributable to First Capital, Inc.

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$

4,762

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$

3,775

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$

9,092

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$

7,010

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Net income per share attributable to

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First Capital, Inc. common shareholders:

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Basic

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$

1.43

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$

1.13

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$

2.73

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$

2.09

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Diluted

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$

1.43

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$

1.13

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$

2.72

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$

2.09

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​

​

​

​

​

​

​

​

​

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Weighted average common shares outstanding:

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​

​

​

​

​

​

​

​

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Basic

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3,336,190

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3,346,653

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3,336,134

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3,346,751

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Diluted

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3,339,690

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3,350,344

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3,339,124

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3,349,308

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OTHER FINANCIAL DATA

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Cash dividends per share

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$

0.31

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$

0.29

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$

0.62

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$

0.58

Return on average assets (annualized)

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1.49%

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1.24%

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1.43%

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1.16%

Return on average equity (annualized)

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13.60%

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12.59%

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12.98%

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11.86%

Net interest margin

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3.91%

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3.52%

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3.82%

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3.40%

Net interest margin (tax-equivalent basis) (1)

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3.98%

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3.59%

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3.90%

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3.47%

Interest rate spread

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3.49%

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3.11%

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3.41%

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2.99%

Interest rate spread (tax-equivalent basis) (1)

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3.56%

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3.18%

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3.48%

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3.06%

Net overhead expense as a percentage of average assets (annualized)

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2.46%

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2.47%

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2.45%

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2.43%

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​	​	​	​	​	​	​	​
​	​	June 30,		​	December 31,		​
BALANCE SHEET INFORMATION	​ ​ ​	2026		​ ​ ​	2025		​
​	​	​	​	​	​	​	​
Cash and cash equivalents	​	$	149,812	​	$	137,288	​
Interest-bearing time deposits	​	​	1,225	​	​	1,470	​
Investment securities	​	​	413,917	​	​	424,190	​
Gross loans	​	​	678,838	​	​	664,208	​
Allowance for credit losses	​	​	10,714	​	​	10,108	​
Earning assets	​	​	1,215,369	​	​	1,193,475	​
Total assets	​	​	1,290,041	​	​	1,271,995	​
Deposits	​	​	1,136,731	​	​	1,122,990	​
Stockholders' equity, net of noncontrolling interest	​	​	142,510	​	​	137,797	​
Allowance for credit losses as a percentage of gross loans	​	​	1.58%	​	​	1.52%	​
Non-performing assets:	​	​	​	​	​	​	​
Nonaccrual loans	​	​	4,920	​	​	4,268	​
Accruing loans past due 90 days	​	​	—	​	​	83	​
Foreclosed real estate	​	​	—	​	​	—	​
Regulatory capital ratios (Bank only):	​	​	​	​	​	​	​
Community Bank Leverage Ratio (2)	​	​	11.34%	​	​	11.01%	​

(1)  See reconciliation of GAAP and non-GAAP financial measures for additional information relating to the calculation of this item.

(2)  Effective March 31, 2020, the Bank opted in to the Community Bank Leverage Ratio (CBLR) framework. As such, the other regulatory ratios are no longer provided.

​

​

FIRST CAPITAL, INC. AND SUBSIDIARIES

Consolidated Average Balance Sheets (Unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​ ​ ​

For the Three Months ended June 30,

​

​

2026

​

2025

​

​

​

​

​ ​ ​

​

​

​ ​ ​

Average

​ ​ ​

​

​

​ ​ ​

​

​

​ ​ ​

Average

​

​

Average

​

​

​

Yield/

​

Average

​

​

​

Yield/

​

​

Balance

​

Interest

​

Cost

​

Balance

​

Interest

​

Cost

(Dollars in thousands)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest earning assets:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Loans (1) (2):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Taxable

​

$

661,948

​

$

10,675

​

6.45%

​

$

643,824

​

$

10,165

​

6.32%

Tax-exempt (3)

​

​

12,774

​

​

176

​

5.51%

​

​

10,686

​

​

114

​

4.27%

Total loans

​

​

674,722

​

​

10,851

​

6.43%

​

​

654,510

​

​

10,279

​

6.28%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Investment securities:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Taxable (4)

​

​

312,690

​

​

2,889

​

3.70%

​

​

308,527

​

​

2,004

​

2.60%

Tax-exempt (3)

​

​

119,056

​

​

902

​

3.03%

​

​

118,418

​

​

842

​

2.84%

Total investment securities

​

​

431,746

​

​

3,791

​

3.51%

​

​

426,945

​

​

2,846

​

2.67%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest bearing deposits with banks (5)

​

​

130,539

​

​

1,207

​

3.70%

​

​

100,563

​

​

1,116

​

4.44%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total interest earning assets

​

​

1,237,007

​

​

15,849

​

5.12%

​

​

1,182,018

​

​

14,241

​

4.82%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Non-interest earning assets

​

​

42,055

​

​

​

​

​

​

​

34,037

​

​

​

​

​

Total assets

​

$

1,279,062

​

​

​

​

​

​

$

1,216,055

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest bearing liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest-bearing demand deposits

​

$

442,178

​

$

1,203

​

1.09%

​

$

440,186

​

$

1,334

​

1.21%

Savings accounts

​

​

223,630

​

​

100

​

0.18%

​

​

228,261

​

​

165

​

0.29%

Time deposits

​

​

241,466

​

​

2,232

​

3.70%

​

​

215,314

​

​

2,129

​

3.96%

Total deposits

​

​

907,274

​

​

3,535

​

1.56%

​

​

883,761

​

​

3,628

​

1.64%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total interest bearing liabilities

​

​

907,274

​

​

3,535

​

1.56%

​

​

883,761

​

​

3,628

​

1.64%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Non-interest bearing liabilities

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Non-interest bearing deposits

​

​

219,031

​

​

​

​

​

​

​

202,365

​

​

​

​

​

Other liabilities

​

​

12,664

​

​

​

​

​

​

​

9,965

​

​

​

​

​

Total liabilities

​

​

1,138,969

​

​

​

​

​

​

​

1,096,091

​

​

​

​

​

Stockholders' equity (6)

​

​

140,093

​

​

​

​

​

​

​

119,964

​

​

​

​

​

Total liabilities and stockholders' equity

​

$

1,279,062

​

​

​

​

​

​

$

1,216,055

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net interest income (tax-equivalent basis)

​

​

​

​

$

12,314

​

​

​

​

​

​

$

10,613

​

​

Less: tax equivalent adjustment

​

​

​

​

​

(227)

​

​

​

​

​

​

​

(201)

​

​

Net interest income

​

​

​

​

$

12,087

​

​

​

​

​

​

$

10,412

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest rate spread

​

​

​

​

​

​

​

3.49%

​

​

​

​

​

​

​

3.11%

Interest rate spread (tax-equivalent basis) (7)

​

​

​

​

​

​

​

3.56%

​

​

​

​

​

​

​

3.18%

Net interest margin

​

​

​

​

​

​

​

3.91%

​

​

​

​

​

​

​

3.52%

Net interest margin (tax-equivalent basis) (7)

​

​

​

​

​

​

​

3.98%

​

​

​

​

​

​

​

3.59%

Ratio of average interest earning assets to average interest bearing liabilities

​

​

​

​

​

​

​

136.34%

​

​

​

​

​

​

​

133.75%

(1)  Interest income on loans includes fee income of $227,000 and $222,000 for the three months ended June 30, 2026 and 2025, respectively.

(2)  Average loan balances include loans held for sale and nonperforming loans.

(3)  Tax-exempt income has been adjusted to a tax-equivalent basis using the federal marginal tax rate of 21%.

(4)  Includes taxable debt and equity securities and FHLB Stock.

(5)  Includes interest-bearing deposits with banks and interest-bearing time deposits.

(6)  Stockholders' equity attributable to First Capital, Inc.

(7)  Reconciliations of the non–U.S. GAAP measures are set forth at the end of this press release.

​

FIRST CAPITAL, INC. AND SUBSIDIARIES

Consolidated Average Balance Sheets (Unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the Six Months ended June 30,

​

​

2026

​

2025

​

​ ​ ​

​

​

​ ​ ​

​

​

​ ​ ​

Average

​ ​ ​

​

​

​ ​ ​

​

​

​ ​ ​

Average

​

​

Average

​

​

​

​

Yield/

​

Average

​

​

​

​

Yield/

​

​

Balance

​

Interest

​

Cost

​

Balance

​

Interest

​

Cost

(Dollars in thousands)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest earning assets:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Loans (1) (2):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Taxable

​

$

660,861

​

$

21,030

​

6.36%

​

$

638,326

​

$

19,849

​

6.22%

Tax-exempt (3)

​

​

11,517

​

​

285

​

4.95%

​

​

10,786

​

​

228

​

4.23%

Total loans

​

​

672,378

​

​

21,315

​

6.34%

​

​

649,112

​

​

20,077

​

6.19%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Investment securities:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Taxable (4)

​

​

315,200

​

​

5,626

​

3.57%

​

​

309,248

​

​

3,864

​

2.50%

Tax-exempt (3)

​

​

119,093

​

​

1,792

​

3.01%

​

​

118,650

​

​

1,663

​

2.80%

Total investment securities

​

​

434,293

​

​

7,418

​

3.42%

​

​

427,898

​

​

5,527

​

2.58%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest bearing deposits with banks (5)

​

​

122,624

​

​

2,249

​

3.67%

​

​

98,723

​

​

2,179

​

4.41%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total interest earning assets

​

​

1,229,295

​

​

30,982

​

5.04%

​

​

1,175,733

​

​

27,783

​

4.73%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Non-interest earning assets

​

​

43,940

​

​

​

​

​

​

​

31,697

​

​

​

​

​

Total assets

​

$

1,273,235

​

​

​

​

​

​

$

1,207,430

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest bearing liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest-bearing demand deposits

​

$

439,812

​

$

2,367

​

1.08%

​

$

439,952

​

$

2,743

​

1.25%

Savings accounts

​

​

223,502

​

​

199

​

0.18%

​

​

226,842

​

​

328

​

0.29%

Time deposits

​

​

241,060

​

​

4,475

​

3.71%

​

​

216,418

​

​

4,322

​

3.99%

Total deposits

​

​

904,374

​

​

7,041

​

1.56%

​

​

883,212

​

​

7,393

​

1.67%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total interest bearing liabilities

​

​

904,374

​

​

7,041

​

1.56%

​

​

883,212

​

​

7,393

​

1.67%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Non-interest bearing liabilities

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Non-interest bearing deposits

​

​

216,123

​

​

​

​

​

​

​

198,218

​

​

​

​

​

Other liabilities

​

​

12,603

​

​

​

​

​

​

​

7,804

​

​

​

​

​

Total liabilities

​

​

1,133,100

​

​

​

​

​

​

​

1,089,234

​

​

​

​

​

Stockholders' equity (6)

​

​

140,135

​

​

​

​

​

​

​

118,196

​

​

​

​

​

Total liabilities and stockholders' equity

​

$

1,273,235

​

​

​

​

​

​

$

1,207,430

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net interest income (tax-equivalent basis)

​

​

​

​

$

23,941

​

​

​

​

​

​

$

20,390

​

​

Less: tax equivalent adjustment

​

​

​

​

​

(436)

​

​

​

​

​

​

​

(397)

​

​

Net interest income

​

​

​

​

$

23,505

​

​

​

​

​

​

$

19,993

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest rate spread

​

​

​

​

​

​

​

3.41%

​

​

​

​

​

​

​

2.99%

Interest rate spread (tax-equivalent basis) (7)

​

​

​

​

​

​

​

3.48%

​

​

​

​

​

​

​

3.06%

Net interest margin

​

​

​

​

​

​

​

3.82%

​

​

​

​

​

​

​

3.40%

Net interest margin (tax-equivalent basis) (7)

​

​

​

​

​

​

​

3.90%

​

​

​

​

​

​

​

3.47%

Ratio of average interest earning assets to average interest bearing liabilities

​

​

​

​

​

​

​

135.93%

​

​

​

​

​

​

​

133.12%

(1)  Interest income on loans includes fee income of $419,000 and $358,000 for the six months ended June 30, 2026 and 2025, respectively.

(2)  Average loan balances include loans held for sale and nonperforming loans.

(3)  Tax-exempt income has been adjusted to a tax-equivalent basis using the federal marginal tax rate of 21%.

(4)  Includes taxable debt and equity securities and FHLB Stock.

(5)  Includes interest-bearing deposits with banks and interest-bearing time deposits.

(6)  Stockholders' equity attributable to First Capital, Inc.

(7)  Reconciliations of the non–U.S. GAAP measures are set forth at the end of this press release.

​

​

​

RECONCILIATION OF GAAP AND NON-GAAP FINANCIAL MEASURES (UNAUDITED):

This presentation contains financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America (“GAAP”).  Management uses these “non-GAAP” measures in its analysis of the Company's performance.  Management believes that these non-GAAP financial measures allow for better comparability with prior periods, as well as with peers in the industry who provide a similar presentation, and provide a further understanding of the Company's ongoing operations.  These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies.  The following table summarizes the non-GAAP financial measures derived from amounts reported in the Company's consolidated financial statements and reconciles those non-GAAP financial measures with the comparable GAAP financial measures.  

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Six Months Ended

​

​

June 30,

​

June 30,

​

​ ​ ​

2026

​ ​ ​

2025

​

2026

​ ​ ​

2025

(Dollars in thousands)

​

​

​

​

​

​

​

​

​

​

​

​

Net interest income (A)

​

$

12,087

​

$

10,412

​

$

23,505

​

$

19,993

Add: Tax-equivalent adjustment

​

​

227

​

​

201

​

​

436

​

​

397

Tax-equivalent net interest income (B)

​

​

12,314

​

​

10,613

​

​

23,941

​

​

20,390

Average interest earning assets (C)

​

​

1,237,007

​

​

1,182,018

​

​

1,229,295

​

​

1,175,733

Net interest margin (A)/(C)

​

​

3.91%

​

​

3.52%

​

​

3.82%

​

​

3.40%

Net interest margin (tax-equivalent basis) (B)/(C)

​

​

3.98%

​

​

3.59%

​

​

3.90%

​

​

3.47%

​

​

​

​

​

​

​

​

​

​

​

​

​

Total interest income (D)

​

$

15,622

​

$

14,040

​

$

30,546

​

$

27,386

Add: Tax-equivalent adjustment

​

​

227

​

​

201

​

​

436

​

​

397

Total interest income tax-equivalent basis (E)

​

​

15,849

​

​

14,241

​

​

30,982

​

​

27,783

Average interest earning assets (F)

​

​

1,237,007

​

​

1,182,018

​

​

1,229,295

​

​

1,175,733

Average yield on interest earning assets (D)/(F); (G)

​

​

5.05%

​

​

4.75%

​

​

4.97%

​

​

4.66%

Average yield on interest earning assets tax-equivalent (E)/(F); (H)

​

​

5.12%

​

​

4.82%

​

​

5.04%

​

​

4.73%

Average cost of interest bearing liabilities (I)

​

​

1.56%

​

​

1.64%

​

​

1.56%

​

​

1.67%

Interest rate spread (G)-(I)

​

​

3.49%

​

​

3.11%

​

​

3.41%

​

​

2.99%

Interest rate spread tax-equivalent (H)-(I)

​

​

3.56%

​

​

3.18%

​

​

3.48%

​

​

3.06%

​

​

Filing Exhibits & Attachments

4 documents

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• EX-99.1 EX-99.1 673.5 KB

Other Documents

• EX-101 EX-101.SCH 2.6 KB
• EX-101 EX-101.LAB 14.9 KB
• EX-101 EX-101.PRE 9.7 KB