First Capital, Inc. reported a solid financial performance for the second quarter of 2026, with net income attributable to the company reaching $4.8 million, or $1.43 per diluted share, compared to $3.8 million, or $1.13 per diluted share, in the same period last year. For the first half of 2026, net income was $9.1 million, up from $7.0 million in the prior year. The increase in profitability was driven by a rise in net interest income, which grew to $12.1 million for the quarter, up from $10.4 million a year earlier, reflecting a higher average yield on interest-earning assets and an increase in the average balance of these assets.
Total assets for First Capital increased by $18 million, reaching $1.29 billion as of June 30, 2026, compared to $1.27 billion at the end of 2025. The growth in assets was primarily attributed to a $14 million increase in net loans receivable, which rose to $668.1 million. This increase was supported by growth in various loan categories, including commercial real estate and home equity loans, although it was partially offset by a decrease in multifamily residential loans. Cash and cash equivalents also saw an increase, rising to $149.8 million, driven by net deposit inflows and sales of available-for-sale securities.
In terms of operational metrics, total deposits increased by $13.7 million to $1.14 billion, with notable growth in interest-bearing accounts and savings accounts. The company reported a decrease in non-interest-bearing checking accounts, reflecting competitive pressures and market conditions. The total stockholders' equity attributable to First Capital rose to $142.5 million, primarily due to retained earnings, despite a net unrealized loss on available-for-sale securities of $2.3 million attributed to rising market interest rates.
Looking ahead, First Capital's management expressed optimism about maintaining its growth trajectory, emphasizing the importance of strategic asset management and deposit retention in a competitive environment. The company continues to focus on enhancing its loan portfolio while managing interest rate risks effectively. The outlook remains positive, with expectations for continued profitability driven by prudent financial management and operational efficiencies.
About FIRST CAPITAL INC
First Capital, Inc. is a holding company primarily owning First Harrison Bank, a community-focused Indiana bank offering retail banking, commercial lending, mortgage, and investment services. It serves local markets with a range of deposit and loan products, emphasizing relationship banking, risk management, and regulatory compliance. The company supports its banking operations through investments, borrowings, and subsidiaries, maintaining a stable, customer-oriented financial services model.
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