Financial Performance - Net income for Q2 2024 was $2.8 million, or $0.85 per diluted share, compared to $2.7 million, or $0.82 per diluted share, in Q2 2023 [1] - Net interest income after provision for credit losses increased by $335,000 in Q2 2024 compared to Q2 2023, driven by a rise in interest income of $1.6 million due to higher tax-equivalent yield on interest-earning assets [2] - Noninterest income increased by $160,000 in Q2 2024 compared to Q2 2023, primarily due to a $65,000 increase in gains on the sale of loans [3] - Income tax expense increased by $59,000 in Q2 2024 compared to Q2 2023, resulting in an effective tax rate of 14.7% versus 13.6% in the prior year [4] Interest Rates and Borrowings - The average tax-equivalent yield on interest-earning assets rose from 3.88% in Q2 2023 to 4.42% in Q2 2024, with the yield on loans increasing from 5.56% to 5.99% [2] - Interest expense increased by $1.3 million in Q2 2024 compared to Q2 2023, driven by a higher average cost of interest-bearing liabilities (1.71% vs. 1.12%) and an increase in the average balance of interest-bearing liabilities [2] - The company's total average outstanding borrowings increased from $10.6 million in Q2 2023 to $37.2 million in Q2 2024, with an average rate of 4.93% versus 5.09% [2] Credit and Loan Performance - The provision for credit losses increased from $350,000 in Q2 2023 to $360,000 in Q2 2024, reflecting loan growth, higher nonperforming assets, and macroeconomic uncertainty [6] - Net charge-offs decreased from $158,000 in Q2 2023 to $30,000 in Q2 2024 [6] - Nonperforming assets increased from $1.8 million at December 31, 2023, to $4.1 million at June 30, 2024, primarily due to the nonaccrual classification of a $2.0 million borrowing relationship [14] Noninterest Expenses - Noninterest expenses increased by $334,000 in Q2 2024 compared to Q2 2023, primarily due to higher compensation and benefits ($160,000) and professional fees ($138,000) [7] - For the six months ended June 30, 2024, noninterest expenses increased by $690,000 compared to the same period in 2023, driven by higher compensation and benefits ($214,000), professional fees ($211,000), and other expenses ($146,000) [12] Six-Month Performance - Net income for the six months ended June 30, 2024, 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 in 2023 [8] - Net interest income after provision for credit losses decreased by $343,000 for the six months ended June 30, 2024, compared to the same period in 2023, despite a $3.3 million increase in interest income [5][9] - Noninterest income increased by $68,000 for the six months ended June 30, 2024, compared to the same period in 2023, primarily due to higher gains on the sale of loans and other income [11] Balance Sheet and Asset Management - Total assets remained stable at $1.16 billion at both June 30, 2024, and December 31, 2023 [14] - Net loans receivable increased by $15.6 million, and total cash and cash equivalents increased by $11.9 million from December 31, 2023, to June 30, 2024 [14] - Deposits decreased by $11.0 million from $1.03 billion at December 31, 2023, to $1.01 billion at June 30, 2024 [14] Regulatory and Capital Ratios - The Community Bank Leverage Ratio increased from 9.92% in 2023 to 10.44% in 2024 [23] - The allowance for credit losses as a percentage of gross loans increased from 1.29% at December 31, 2023, to 1.34% at June 30, 2024 [22]

Dividend Announcement - First Capital Inc has declared a quarterly cash dividend of $0 27 per share of common stock [1] - The dividend will be paid on June 28 2024 to shareholders of record as of June 14 2024 [1] Company Overview - First Capital Inc is the holding company for First Harrison Bank [2] - First Harrison Bank operates 18 offices across Indiana and Kentucky communities [2] - The bank provides online banking and electronic bill payment services accessible through its website [2] Contact Information - Joshua Stevens serves as the Chief Financial Officer of First Capital Inc [3] - Contact number for Joshua Stevens is 812-738-1570 [3]

Dividend Announcement - First Capital Inc declared a quarterly cash dividend of $0 27 per share of common stock [1] - The dividend will be paid on June 28 2024 to shareholders of record as of June 14 2024 [1] Company Overview - First Capital Inc is the holding company for First Harrison Bank [2] - First Harrison Bank operates 18 offices across Indiana and Kentucky communities [2] - The bank provides online banking and electronic bill payment services accessible through its website [2] Contact Information - Joshua Stevens serves as the Chief Financial Officer of First Capital Inc [3] - Contact number for Joshua Stevens is 812-738-1570 [3]

Financial Performance - Net income attributable to the Company was $3.0 million ($0.88 per diluted share) for Q1 2024, down from $3.8 million ($1.14 per diluted share) in Q1 2023[142]. - Noninterest income decreased by $92,000, impacted by a decline in ATM and debit card fees and a loss on equity securities[147]. Assets and Liabilities - Total assets remained stable at $1.16 billion, with a slight decrease of $1.3 million from December 31, 2023 to March 31, 2024[133]. - Net loans receivable increased by $7.0 million, reaching $621.4 million, driven by increases in commercial real estate and multifamily residential loans[134]. - Cash and cash equivalents rose from $38.7 million to $42.1 million, influenced by maturities of available-for-sale securities and increased borrowings[135]. - Total deposits decreased from $1.03 billion to $1.01 billion, with significant competition for deposits impacting fluctuations and costs[137]. Interest Income and Expense - Total interest income increased by $1.7 million, with the average tax-equivalent yield on interest-earning assets rising from 3.73% to 4.29%[143]. - Total interest expense increased by $2.2 million, reflecting a rise in the average cost of interest-bearing liabilities from 0.51% to 1.55%[144]. Credit and Risk Management - Provision for credit losses increased from $193,000 to $280,000, attributed to loan growth and macroeconomic uncertainty[146]. - The Company does not engage in high-risk derivative instruments and is not exposed to foreign currency exchange rate risk or commodity price risk[165]. - Interest rate risk is primarily influenced by the Company's activities in gathering deposits and extending loans, which are sensitive to general economic conditions[166]. Capital Adequacy - The Bank's Community Bank Leverage Ratio (CBLR) improved to 10.29% as of March 31, 2024, indicating strong capital adequacy[158]. - The Company aims for long-term profitability while managing interest rate exposure through strategies that shorten asset maturities and rely on stable retail deposits[164]. Interest Rate Sensitivity - A simulation model indicates that a 300 basis point increase in interest rates could increase net interest income by $808,000 (2.23%) as of March 31, 2024[170]. - The Economic Value of Equity (EVE) could decrease by $6,421,000 (2.87%) with a 300 basis point increase in interest rates as of March 31, 2024[174]. - The Company’s EVE ratio is projected to decrease to 16.67% with a 300 basis point increase in interest rates as of March 31, 2024[174]. - The Company’s net interest income is projected to be affected by various interest rate scenarios, with specific impacts quantified over a one-year horizon[167]. Internal Controls and Reporting - There have been no changes in the Company's internal control over financial reporting that materially affect its effectiveness as of March 31, 2024[180]. - The Company’s management has confirmed the effectiveness of its disclosure controls and procedures to ensure timely and accurate reporting[179].

[Financial Highlights](index=1&type=section&id=Financial%20Highlights) First Capital, Inc. reported a net income of $3.0 million, or $0.88 per diluted share, for the first quarter of 2024, a decrease from $3.8 million, or $1.14 per diluted share, in the prior-year period Q1 2024 vs Q1 2023 Earnings Summary | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net Income | $3.0 million | $3.8 million | | Diluted EPS | $0.88 | $1.14 | [Analysis of Operations (Q1 2024 vs. Q1 2023)](index=1&type=section&id=Analysis%20of%20Operations) The company's Q1 2024 operational performance was impacted by decreased net interest income due to rising interest expenses, increased noninterest expenses, and a partially offsetting decrease in income tax expense [Net Interest Income](index=1&type=section&id=Net%20Interest%20Income) Net interest income after provision for credit losses decreased by $678,000 year-over-year, primarily due to a $2.2 million increase in interest expense, compressing the tax-equivalent net interest margin to 3.14% Net Interest Income and Margin Analysis (Q1 2024 vs Q1 2023) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net Interest Income | $8.60 million | $9.19 million | | Interest Income | $11.84 million | $10.19 million | | Interest Expense | $3.24 million | $1.00 million | | Tax-Equivalent Net Interest Margin | 3.14% | 3.38% | - The increase in interest expense was driven by a rise in the average cost of interest-bearing liabilities from **0.51% to 1.55%** and an increase in average balances from **$788.2 million to $833.7 million**[3](index=3&type=chunk) - The company utilized new borrowings in Q1 2024, with average outstanding balances of **$3.4 million** from FHLB and **$31.9 million** from the Federal Reserve's BTFP, which were not present in Q1 2023[3](index=3&type=chunk) [Provision for Credit Losses](index=1&type=section&id=Provision%20for%20Credit%20Losses) The provision for credit losses increased to $280,000 in Q1 2024 due to loan growth and macroeconomic uncertainty, while net charge-offs significantly decreased to $55,000 Credit Loss Provision and Net Charge-offs (Q1 2024 vs Q1 2023) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Provision for Credit Losses | $280,000 | $193,000 | | Net Charge-offs | $55,000 | $203,000 | [Noninterest Income](index=1&type=section&id=Noninterest%20Income) Noninterest income decreased by $92,000 year-over-year, primarily due to a swing from a gain to a loss on equity securities and lower ATM/debit card fees, partially offset by other income increases - Key drivers for the decrease in noninterest income include a **$27,000** drop in ATM/debit card fees and a significant swing in equity securities results, from a **$137,000 gain** in Q1 2023 to a **$68,000 loss** in Q1 2024[5](index=5&type=chunk) - Partially offsetting factors included a **$32,000 gain** on the sale of available-for-sale securities, a **$58,000 increase** in other income, and a **$31,000 rise** in service charges on deposit accounts[5](index=5&type=chunk) [Noninterest Expense](index=1&type=section&id=Noninterest%20Expense) Noninterest expense increased by $356,000 compared to Q1 2023, driven primarily by higher other expenses, professional fees, compensation and benefits, and data processing expenses Key Increases in Noninterest Expense (Q1 2024 vs Q1 2023) | Expense Category | Increase Amount | | :--- | :--- | | Other Expenses | $163,000 | | Professional Fees | $73,000 | | Compensation and Benefits | $54,000 | | Data Processing Expenses | $45,000 | [Income Tax Expense](index=1&type=section&id=Income%20Tax%20Expense) Income tax expense decreased by $262,000 year-over-year due to increased benefits from tax credit entity investments, resulting in a lower effective tax rate of 14.6% Income Tax Analysis (Q1 2024 vs Q1 2023) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Income Tax Expense | $507,000 | $769,000 | | Effective Tax Rate | 14.6% | 16.8% | [Financial Position (as of March 31, 2024)](index=1&type=section&id=Financial%20Position) As of March 31, 2024, total assets remained stable at $1.16 billion, with increased net loans and cash offset by decreased securities and deposits, while BTFP borrowings rose Balance Sheet Highlights (vs. Dec 31, 2023) | Account | March 31, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Total Assets | $1.16 billion | $1.16 billion | | Net Loans Receivable | $621.38 million | $614.41 million | | Deposits | $1.01 billion | $1.03 billion | | Borrowed Funds (BTFP) | $33.6 million | $21.5 million | | Nonperforming Assets | $1.7 million | $1.8 million | [Consolidated Financial Highlights (Unaudited)](index=2&type=section&id=Consolidated%20Financial%20Highlights%20(Unaudited)) This section presents detailed unaudited consolidated financial data for the three months ended March 31, 2024, including operating results, key ratios, and balance sheet information Consolidated Operating Data (Three Months Ended March 31) | (Dollars in thousands) | 2024 | 2023 | | :--- | :--- | :--- | | Total interest income | $11,837 | $10,187 | | Total interest expense | $3,237 | $996 | | **Net interest income** | **$8,600** | **$9,191** | | Provision for credit losses | $280 | $193 | | Total non-interest income | $1,899 | $1,991 | | Total non-interest expense | $6,757 | $6,401 | | **Income before income taxes** | **$3,462** | **$4,588** | | Income tax expense | $507 | $769 | | **Net income** | **$2,955** | **$3,819** | Consolidated Balance Sheet Information | (Dollars in thousands) | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Total assets | $1,156,555 | $1,157,880 | | Gross loans | $629,607 | $622,414 | | Deposits | $1,010,092 | $1,025,211 | | Borrowed funds | $33,625 | $21,500 | | Stockholders' equity | $105,725 | $105,233 | [Reconciliation of GAAP and Non-GAAP Financial Measures](index=3&type=section&id=RECONCILIATION%20OF%20GAAP%20AND%20NON-GAAP%20FINANCIAL%20MEASURES%20(UNAUDITED)) This section reconciles non-GAAP financial measures, such as annualized return on average assets and equity, to comparable GAAP measures for enhanced performance analysis and industry comparison - Management uses non-GAAP measures like annualized return on average assets, annualized return on average equity, and annualized net overhead expense as a percentage of average assets to analyze performance and believes they provide a better understanding of ongoing operations[20](index=20&type=chunk) Non-GAAP Reconciliation (Annualized Ratios) | Three Months Ended March 31, | 2024 | 2023 | | :--- | :--- | :--- | | **Annualized return on average assets** | **1.03%** | **1.34%** | | Return on average assets before annualization | 0.26% | 0.34% | | **Annualized return on average equity** | **11.25%** | **17.34%** | | Return on average equity before annualization | 2.81% | 4.34% | [Cautionary Note Regarding Forward-Looking Statements](index=2&type=section&id=Cautionary%20Note%20Regarding%20Forward-Looking%20Statements) This section advises that forward-looking statements are subject to risks and uncertainties, including economic and regulatory changes, and are not guarantees of future performance - Forward-looking statements are based on current beliefs and expectations, not historical facts, and are subject to significant risks and uncertainties[12](index=12&type=chunk) - Factors that could cause different results include economic conditions, market interest rates, competition, and legislative or regulatory changes[13](index=13&type=chunk)

CORYDON, Ind., April 26, 2024 (GLOBE NEWSWIRE) -- First Capital, Inc. (the "Company") (NASDAQ:FCAP), the holding company for First Harrison Bank (the "Bank"), today reported net income of $3.0 million, or $0.88 per diluted share, for the quarter ended March 31, 2024, compared to net income of $3.8 million, or $1.14 per diluted share, for the quarter ended March 31, 2023. Net interest income after provision for credit losses decreased $678,000 for the quarter ended March 31, 2024 as compared to the same peri ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K For the transition period from _________ to __________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 0-25023 For the Fiscal Year Ended December 31, 2023 FIRST CAPITAL, INC. (Exact name of registrant as specified in its charter) OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Securities registered pursuant to Section 1 ...

CORYDON, Ind., Jan. 30, 2024 (GLOBE NEWSWIRE) -- First Capital, Inc. (the "Company") (NASDAQ:FCAP), the holding company for First Harrison Bank (the "Bank"), today reported net income of $12.8 million, or $3.82 per diluted share, for the year ended December 31, 2023, compared to net income of $11.9 million, or $3.55 per diluted share, for the year ended December 31, 2022. Net interest income after provision for credit losses increased $2.1 million for the year ended December 31, 2023 compared to the same pe ...

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, 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 o ...

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 ...