First Capital Inc 8-K, filed Jan 23, 2026

First Capital Inc (FCAP)

8-K 2026-01-23 For: 2026-01-23

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Added on April 12, 2026

About this 8-K

First Capital Inc filed this 8-K on January 23, 2026.

Items reported

Item 2.02: Financial results
Item 9.01: Financial statements and exhibits

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


☐	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))

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


Exhibit 99.1		Press Release dated January 23, 2026
Exhibit 104		Cover Page Interactive Data File (embedded within the Inline XBRL document)


	FIRST CAPITAL, INC.


Date: January 23, 2026	By:	/s/ Joshua P. Stevens
		Joshua P. Stevens
		Executive Vice President and Chief Financial Officer


	Three Months Ended					Year Ended
	December 31,					December 31,
OPERATING DATA	2025			2024		2025			2024
(Dollars in thousands, except per share data)

Total interest income	$	14,803		$	13,192	$	56,847		$	50,471
Total interest expense		3,602			3,784		14,697			14,681
Net interest income		11,201			9,408		42,150			35,790
Provision for credit losses		350			346		1,144			1,449
Net interest income after provision for credit losses		10,851			9,062		41,006			34,341

Total non-interest income		2,293			1,934		8,465			7,656
Total non-interest expense		7,323			7,047		29,562			27,828
Income before income taxes		5,821			3,949		19,909			14,169
Income tax expense		938			684		3,529			2,216
Net income		4,883			3,265		16,380			11,953
Less net income attributable to the noncontrolling interest		4			3		13			13
Net income attributable to First Capital, Inc.	$	4,879		$	3,262	$	16,367		$	11,940

Net income per share attributable to
First Capital, Inc. common shareholders:
Basic	$	1.46		$	0.97	$	4.89		$	3.57

Diluted	$	1.46		$	0.97	$	4.89		$	3.57

Weighted average common shares outstanding:
Basic		3,340,500			3,347,043		3,345,645			3,346,161

Diluted		3,342,911			3,347,321		3,347,989			3,346,161

OTHER FINANCIAL DATA

Cash dividends per share	$	0.31		$	0.29	$	1.20		$	1.12
Return on average assets (annualized)		1.57%			1.10%		1.34%			1.02%
Return on average equity (annualized)		14.46%			11.33%		13.18%			10.97%
Net interest margin		3.72%			3.26%		3.54%			3.14%
Net interest margin (tax-equivalent basis) (1)		3.79%			3.33%		3.61%			3.20%
Interest rate spread		3.29%			2.81%		3.12%			2.69%
Interest rate spread (tax-equivalent basis) (1)		3.36%			2.88%		3.19%			2.76%
Net overhead expense as a percentage of average assets (annualized)		2.35%			2.38%		2.41%			2.38%


		December 31,			December 31,
BALANCE SHEET INFORMATION		2025			2024

Cash and cash equivalents		$	137,288		$	105,917
Interest-bearing time deposits			1,470			2,695
Investment securities			424,190			396,243
Gross loans			664,208			640,480
Allowance for credit losses			10,108			9,281
Earning assets			1,193,475			1,119,944
Total assets			1,271,995			1,187,523
Deposits			1,122,990			1,066,439
Stockholders' equity, net of noncontrolling interest			137,797			114,599
Allowance for credit losses as a percentage of gross loans			1.52%			1.45%
Non-performing assets:
Nonaccrual loans			4,268			4,382
Accruing loans past due 90 days			83			—
Foreclosed real estate			—			—
Regulatory capital ratios (Bank only):
Community Bank Leverage Ratio (2)			11.02%			10.57%


	For the Year Ended December 31,
	2025					2024
					Average					Average
	Average				Yield/	Average				Yield/
	Balance		Interest		Cost	Balance		Interest		Cost
(Dollars in thousands)
Interest earning assets:
Loans (1) (2):
Taxable	$	641,291	$	40,566	6.33%	$	624,193	$	37,974	6.08%
Tax-exempt (3)		10,522		446	4.24%		9,805		377	3.84%
Total loans		651,813		41,012	6.29%		633,998		38,351	6.05%

Investment securities:
Taxable (4)		314,384		8,711	2.77%		333,195		6,918	2.08%
Tax-exempt (3)		119,379		3,438	2.88%		121,947		3,329	2.73%
Total investment securities		433,763		12,149	2.80%		455,142		10,247	2.25%

Interest bearing deposits with banks (5)		104,385		4,502	4.31%		52,036		2,651	5.09%

Total interest earning assets		1,189,961		57,663	4.85%		1,141,176		51,249	4.49%

Non-interest earning assets		34,977					28,479
Total assets	$	1,224,938				$	1,169,655

Interest bearing liabilities:
Interest-bearing demand deposits	$	436,909	$	5,280	1.21%	$	433,495	$	6,086	1.40%
Savings accounts		225,817		598	0.26%		230,353		810	0.35%
Time deposits		223,315		8,819	3.95%		156,534		6,331	4.04%
Total deposits		886,041		14,697	1.66%		820,382		13,227	1.61%

FHLB Advances		—		—	—		1,736		99	5.70%
Bank Term Funding Program Borrowings		—		—	—		27,918		1,355	4.85%
Total interest bearing liabilities		886,041		14,697	1.66%		850,036		14,681	1.73%

Non-interest bearing liabilities
Non-interest bearing deposits		205,822					203,699
Other liabilities		8,852					7,046
Total liabilities		1,100,715					1,060,781
Stockholders' equity (6)		124,223					108,874
Total liabilities and stockholders' equity	$	1,224,938				$	1,169,655

Net interest income (tax-equivalent basis)			$	42,966				$	36,568
Less: tax equivalent adjustment				(816)					(778)
Net interest income			$	42,150				$	35,790

Interest rate spread					3.12%					2.69%
Interest rate spread (tax-equivalent basis) (7)					3.19%					2.76%
Net interest margin					3.54%					3.14%
Net interest margin (tax-equivalent basis) (7)					3.61%					3.20%
Ratio of average interest earning assets to average interest bearing liabilities					134.30%					134.25%


	For the Three Months ended December 31,
	2025					2024
					Average					Average
	Average				Yield/	Average				Yield/
	Balance		Interest		Cost	Balance		Interest		Cost
(Dollars in thousands)
Interest earning assets:
Loans (1) (2):
Taxable	$	648,238	$	10,394	6.41%	$	627,125	$	9,748	6.22%
Tax-exempt (3)		10,194		109	4.28%		11,339		123	4.34%
Total loans		658,432		10,503	6.38%		638,464		9,871	6.18%

Investment securities:
Taxable (4)		320,243		2,565	3.20%		314,345		1,739	2.21%
Tax-exempt (3)		121,351		909	3.00%		121,445		838	2.76%
Total investment securities		441,594		3,474	3.15%		435,790		2,577	2.37%

Interest bearing deposits with banks (5)		104,355		1,040	3.99%		79,155		945	4.78%

Total interest earning assets		1,204,381		15,017	4.99%		1,153,409		13,393	4.64%

Non-interest earning assets		41,137					30,640
Total assets	$	1,245,518				$	1,184,049

Interest bearing liabilities:
Interest-bearing demand deposits	$	430,790	$	1,219	1.13%	$	437,573	$	1,535	1.40%
Savings accounts		221,620		116	0.21%		224,311		159	0.28%
Time deposits		233,890		2,267	3.88%		185,112		1,936	4.18%
Total deposits		886,300		3,602	1.63%		846,996		3,630	1.71%

FHLB Advances		—		—	—		—		—	—
Bank Term Funding Program Borrowings		—		—	—		12,621		154	4.88%
Total interest bearing liabilities		886,300		3,602	1.63%		859,617		3,784	1.76%

Non-interest bearing liabilities
Non-interest bearing deposits		215,030					202,008
Other liabilities		9,257					7,294
Total liabilities		1,110,587					1,068,919
Stockholders' equity (6)		134,931					115,130
Total liabilities and stockholders' equity	$	1,245,518				$	1,184,049

Net interest income (tax-equivalent basis)			$	11,415				$	9,609
Less: tax equivalent adjustment				(214)					(201)
Net interest income			$	11,201				$	9,408

Interest rate spread					3.29%					2.81%
Interest rate spread (tax-equivalent basis) (7)					3.36%					2.88%
Net interest margin					3.72%					3.26%
Net interest margin (tax-equivalent basis) (7)					3.79%					3.33%
Ratio of average interest earning assets to average interest bearing liabilities					135.89%					134.18%