- First Capital, Inc. (FCAP, Financial) reported net income of $3.2 million for Q1 2025, an increase from $3.0 million in Q1 2024.
- Net interest income after provision increased by $923,000, reflecting stronger asset management.
- Total assets grew to $1.21 billion, up from $1.19 billion as of December 2024.
First Capital, Inc. (FCAP) announced impressive financial results for the first quarter of 2025 with a net income of $3.2 million, or $0.97 per diluted share, compared to $3.0 million, or $0.88 per share, in the same period last year. The growth in earnings per share underscores the company's robust performance in the current fiscal period.
Key financial metrics showed significant improvement, with net interest income after credit provisions rising by $923,000. Interest income saw a notable increase of $1.5 million, driven by a higher yield on interest-earning assets, which rose from 4.29% to 4.63% year-over-year.
Total assets reached $1.21 billion, marking a rise from $1.19 billion at the end of December 2024. Additionally, deposits climbed by $17.5 million to total $1.08 billion. This growth in deposits highlights First Capital's ability to attract and retain client trust and confidence.
The bank reported enhanced tax-equivalent net interest margins, which increased to 3.34% in Q1 2025 from 3.14% in Q1 2024, indicating improved profitability and efficiency in its interest-earning activities. Furthermore, nonperforming assets were reduced from $4.5 million to $4.1 million, reflecting effective asset quality management.
In line with its operational improvements, the bank saw an increase in non-interest expenses by $424,000, primarily due to elevated compensation and benefits, as well as occupancy and equipment costs.
First Capital, Inc. continues to operate with 17 branches across Indiana and Kentucky, providing comprehensive banking services to its regional clients. Their digital banking solutions are accessible via their website for enhanced customer convenience.
