UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 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. 0-25023 First Capital, Inc. (Exact name of registrant as specified in its ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March, 31, 2023 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. 0-25023 First Capital, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or orga ...

Financial Performance - Net income attributable to the Company was $11.9 million, or $3.55 per diluted share for 2022, compared to $11.4 million, or $3.41 per diluted share for 2021[241]. - The total annual shareholder return for 2022 was -36.0%, compared to -31.4% for 2021[241]. - Net income attributable to the Company for 2022 was $11.9 million, or $3.55 per diluted share, compared to $11.4 million, or $3.41 per diluted share, in 2021, representing a 4.4% increase in net income[256]. Asset and Loan Growth - Total assets as of December 31, 2022, were $1,151,400,000, a slight decrease from $1,156,603,000 in 2021[249]. - Net loans increased to $557,958,000 in 2022 from $483,287,000 in 2021, reflecting a growth of 15.4%[249]. - Total outstanding loans increased by $75.3 million during 2022, contrasting with a decrease of $18.4 million in 2021[260]. - Net loans receivable increased from $483.3 million at December 31, 2021 to $558.0 million at December 31, 2022, with significant growth in residential mortgage loans, commercial real estate loans, commercial business loans, and construction loans[284]. Income and Expenses - Noninterest income for 2022 was $7,927,000, down from $9,551,000 in 2021, representing a decrease of 17%[249]. - Noninterest income decreased by $1.6 million to $7.9 million in 2022, primarily due to a decline in gains on the sale of loans[263]. - Noninterest expense increased by $557,000 to $25.1 million in 2022, mainly due to higher data processing and compensation expenses[264]. Efficiency and Ratios - The Company's efficiency ratio improved to 62.3% for 2022 from 64.8% in 2021[241]. - Return on average assets for 2022 was 1.03%, down from 1.05% in 2021, while return on average equity increased to 13.07% from 10.15%[241]. - The allowance for loan losses was 1.20% of total outstanding loans at December 31, 2022, compared to 1.25% in 2021[241]. - Nonperforming loans as a percentage of net loans remained low at 0.27% in 2022, down from 0.28% in 2021[256]. Interest Income and Rates - Net interest income increased by $4.0 million, or 14.2%, from $28.3 million in 2021 to $32.3 million in 2022, primarily due to increases in the average balance of interest-earning assets and the interest rate spread[257]. - Total interest income rose by $4.5 million in 2022, driven by an increase in the average balance of interest-earning assets from $1.02 billion in 2021 to $1.13 billion in 2022[258]. - The tax-equivalent yield on interest-earning assets increased from 2.95% in 2021 to 3.10% in 2022, attributed to rising short-term interest rates[258]. - The interest rate spread improved to 2.90% in 2022 from 2.80% in 2021, while the net interest margin increased to 2.95% from 2.84%[279]. Capital and Regulatory Compliance - The Bank was in compliance with all regulatory capital requirements with a CBLR of 9.18% as of December 31, 2022[294]. - Total stockholders' equity attributable to the Company decreased by $28.7 million from $113.8 million at December 31, 2021 to $85.2 million at December 31, 2022, primarily due to a $37.5 million net unrealized loss on available for sale securities[289]. - The Company has a shelf registration permitting the issuance of up to $35 million of debt and equity securities, with $35 million remaining available[295]. Interest Rate Sensitivity - As of December 31, 2022, a 300 basis point increase in interest rates would result in a net interest income increase of $4,012,000, representing an 11.28% change compared to the base case scenario[304]. - The Economic Value of Equity (EVE) at December 31, 2022 would increase by $322,611,000 (8.49%) with a 300 basis point increase in interest rates, with an EVE ratio of 30.96%[307]. - In contrast, a 300 basis point decrease in interest rates would lead to a decrease in EVE by $69,583,000 (23.40%) at December 31, 2022[307]. - The company models various interest rate scenarios to assess sensitivity, acknowledging that model outputs are not guarantees of actual results[308]. Other Financial Insights - The company updated deposit betas and decay rates during 2022 to better reflect market conditions, based on a third-party study of customer accounts[306]. - The company’s net interest income is influenced by factors beyond market interest rates, including asset and liability behavior under different interest rate conditions[308]. - Recent accounting pronouncements and their impacts are discussed in Note 1 of the accompanying Notes to Consolidated Financial Statements[309].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 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. 0-25023 First Capital, Inc. (Exact name of registrant as specified in its charter) Indi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Title of each class Trading Symbol(s) Name of each exhange on which registered Common stock, par value $0.01 per share FCAP The NASDAQ Stock Market LLC FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from__________ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 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. 0-25023 First Capital, Inc. (Exact name of registrant as specified in its charter) | --- | --- | |------------- ...

Financial Performance - Net income attributable to the Company for 2021 was $11.4 million, or $3.41 per diluted share, compared to $10.1 million, or $3.02 per diluted share for 2020[260]. - Return on average assets for 2021 was 1.05%, down from 1.12% in 2020, while return on average equity increased to 10.15% from 9.64% in 2020[261]. - The efficiency ratio for 2021 was 64.8%, compared to 62.8% for 2020, indicating a decrease in operational efficiency[261]. - Total annual shareholder return for 2021 was -31.4%, compared to -15.7% for 2020, reflecting a significant decline in stock price[263]. - Net income for the year ended December 31, 2020, was $10.1 million ($3.02 per share diluted), a slight decrease from $10.3 million ($3.09 per share diluted) in 2019[300]. Loan and Asset Quality - Net loan charge-offs decreased to $217,000 in 2021 from $237,000 in 2020, with the ratio of net charge-offs to average loans outstanding decreasing to 0.04%[262]. - Total nonperforming assets decreased to $1.4 million, or 0.12% of total assets, at December 31, 2021, down from $1.5 million, or 0.14% of total assets, at December 31, 2020[262]. - Nonperforming loans decreased from $1.5 million at December 31, 2020, to $1.3 million at December 31, 2021[294]. - Management intends to maintain a strong emphasis on asset quality and credit risk management, particularly in light of pandemic impacts[268]. Income and Expenses - Net interest income increased by $246,000, or 0.9%, from $28.1 million in 2020 to $28.3 million in 2021, primarily due to an increase in the average balance of interest-earning assets[291]. - Total interest income decreased by $187,000 in 2021, primarily due to a decrease in the tax-equivalent yield on interest-earning assets from 3.57% in 2020 to 2.95% in 2021[292]. - Total interest expense decreased by $433,000, from $1.6 million in 2020 to $1.1 million in 2021, due to a decrease in the average cost of interest-bearing liabilities from 0.25% to 0.15%[293]. - Noninterest income increased by $952,000 to $9.6 million for 2021, driven by a $588,000 rise in ATM and debit card fees, despite a $277,000 decrease in gains on loans sold[297]. - Noninterest expense rose by $1.5 million to $24.5 million for 2021, primarily due to increases in compensation and benefits ($729,000), data processing ($349,000), and professional fees ($335,000)[298]. - Income tax expense increased by $548,000 to $2.2 million for 2021, with the effective tax rate rising from 14.3% in 2020 to 16.4% in 2021 due to higher pre-tax income and changes in state tax law[299]. Balance Sheet and Capital - Total assets increased from $1.02 billion at December 31, 2020 to $1.16 billion at December 31, 2021, primarily due to an increase in securities available for sale[319]. - The Bank's stockholders' equity increased to $112.5 million at December 31, 2021, up from $105.1 million at December 31, 2020[1]. - The total liabilities rose to $973.2 million in 2021, compared to $803.4 million in 2020[1]. - Total deposits increased to $734.5 million in 2021, with an interest-bearing demand deposit average balance of $427.4 million[1]. - Total stockholders' equity attributable to the Company rose by $3.2 million from $110.6 million at December 31, 2020 to $113.8 million at December 31, 2021, primarily due to retained net income of $7.9 million[324]. - The Company maintained a CBLR of 8.84% as of December 31, 2021, in compliance with all regulatory capital requirements[329]. Strategic Initiatives - The Company aims to enhance profitability by increasing noninterest income and improving operating efficiency through a profit improvement project with an outside consulting firm[270]. - The Bank will continue to focus on growing commercial and personal demand deposit accounts as a low-cost funding source[272]. - The Company is evaluating growth opportunities through acquisitions to expand its market area and market share[274]. Interest Rate Sensitivity - An immediate increase in interest rates of 300 basis points could increase the Company's net interest income by approximately $1.96 million over a one-year horizon[340]. - The Company's economic value of equity (EVE) could increase by 27.75% with a 300 basis point increase in interest rates, reflecting a dollar change of $46.62 million[346]. - The Company updated deposit betas and decay rates during 2021 to better reflect market conditions[342]. - The company models various interest rate scenarios to assess sensitivity to market interest rate changes, acknowledging inherent limitations in the analysis[348]. - Certain assets and liabilities may react differently to changes in market interest rates, affecting net interest income and economic value of equity (EVE)[348]. - Adjustable-rate mortgage loans have features that restrict short-term interest rate changes, impacting overall asset performance[348]. - Expected rates of prepayments on loans and early withdrawals from certificates of deposit may deviate significantly from modeling assumptions in the event of interest rate changes[348]. Regulatory and Accounting Considerations - Recent accounting pronouncements impact financial reporting, detailed in Note 1 of the accompanying Notes to Consolidated Financial Statements[349]. - Market risk analysis is discussed in "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Annual Report on Form 10-K[350].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 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. 0-25023 First Capital, Inc. (Exact name of registrant as specified in its charter) | --- | --- ...

Financial Performance - Net income for the three months ended June 30, 2021, was $2,734,000, an increase of 11.97% compared to $2,442,000 for the same period in 2020[16]. - Net income for June 2021 was $5,676,000, an increase from $4,539,000 in June 2020, representing a growth of approximately 25.1%[21]. - Net income attributable to First Capital, Inc. for the three months ended June 30, 2021, was $2,730,000, an increase from $2,438,000 for the same period in 2020, representing a growth of 12%[136]. - Basic earnings per share for the three months ended June 30, 2021, was $0.82, compared to $0.73 for the same period in 2020, reflecting an increase of 12%[136]. - Earnings per common share attributable to First Capital, Inc. were $0.82 for the three months ended June 30, 2021, compared to $0.73 for the same period in 2020, representing an increase of 12.33%[16]. Assets and Liabilities - Total assets increased to $1,078,666 thousand as of June 30, 2021, compared to $1,017,551 thousand at December 31, 2020, representing a growth of 6%[10]. - Total deposits rose to $961,581 thousand, up from $900,461 thousand, indicating an increase of approximately 7%[10]. - Loans, net decreased to $484,750 thousand from $500,331 thousand, reflecting a decline of about 3%[10]. - Total equity rose to $112,518 thousand from $110,751 thousand, indicating a growth of approximately 2%[10]. - Total cash and cash equivalents at the end of June 2021 were $183,996,000, compared to $106,421,000 at the end of June 2020, marking an increase of about 73.0%[21]. Income and Expenses - Total interest income decreased to $7,133,000 for the three months ended June 30, 2021, from $7,374,000 in the same period of 2020, representing a decline of 3.27%[16]. - Net interest income after provision for loan losses was $6,844,000 for the three months ended June 30, 2021, compared to $6,145,000 for the same period in 2020, an increase of 11.38%[16]. - Total noninterest income increased to $2,552,000 for the three months ended June 30, 2021, from $2,320,000 in the same period of 2020, reflecting a growth of 10.00%[16]. - Total noninterest expense rose to $6,165,000 for the three months ended June 30, 2021, compared to $5,618,000 in the same period of 2020, an increase of 9.73%[16]. Loan Portfolio and Provisions - The allowance for loan losses was $6.6 million as of June 30, 2021, compared to $6.6 million at December 31, 2020, indicating stability in the allowance despite changes in the loan portfolio[75]. - The company reported a charge-off of $187 for the six months ended June 30, 2020, with recoveries amounting to $124[89]. - Provisions for loan losses during the three months ended June 30, 2021, included a charge-off of $58, resulting in a net recovery of $67[87]. - The company maintained qualitative factor adjustments due to ongoing uncertainties related to the COVID-19 pandemic, impacting the loan portfolio[92]. - The total recorded investment in impaired loans was $3,138,000, with an average interest income recognized of $12,000[97]. Securities and Investments - Securities available for sale increased significantly to $353,482 thousand from $283,502 thousand, marking a growth of approximately 25%[10]. - The total amortized cost of securities held to maturity as of June 30, 2021, was $2.000 million, with a fair value of $2.025 million[39]. - The total amount of equity securities reported was $1,979,000 as of June 30, 2021, compared to $1,553,000 at the end of 2020, showing an increase of approximately 27.4%[161]. - The company recognized unrealized gains of $427,000 on equity investments during the six months ended June 30, 2021, compared to an unrealized loss of $171,000 in the same period of 2020[52]. COVID-19 Impact and Response - The COVID-19 pandemic has led to a significant decline in market interest rates, with the federal funds interest rate range reduced by 150 basis points to 0% to 0.25%[30]. - The Company has enhanced daily cleaning of facilities and encourages the use of online and mobile banking platforms to support safety during the COVID-19 pandemic[193]. - The Company continues to monitor the pandemic closely and is prepared to take additional actions as the situation evolves[198]. - Management believes the allowance for loan losses is adequate to cover estimated losses in the loan portfolio, although additional losses could be recognized as the pandemic continues[197]. Dividends and Shareholder Information - The company declared dividends per share of $0.26 for the three months ended June 30, 2021, up from $0.24 in the same period of 2020, a rise of 8.33%[16]. - The company reported a total of 3,373,872 shares of common stock outstanding as of July 27, 2021[4]. - Weighted average common shares outstanding for the three months ended June 30, 2021, was 3,342,432, slightly up from 3,336,573 shares in the same period of 2020[136]. - The total unrecognized compensation expense related to nonvested restricted shares as of June 30, 2021, was $1.3 million, expected to be recognized over a weighted average period of 3.1 years[147].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 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. 0-25023 First Capital, Inc. (Exact name of registrant as specified in its charter) | --- | --- | |------------------------- ...