Company: FCAP
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001171843-25-001868
Chunk: 570

Company: FIRST CAPITAL INC
Filing Date: 2025-03-31
Form: 10-K
Item: Item 14
Chunk 570
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 for specific jurisdictions to the extent the related amounts are equal to or greater than five percent of total income taxes paid (net of refunds received). For public business entities, the ASU is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The adoption of the ASU is not expected to have a material impact on the Company’s financial position or results of operations.

The Company has determined that all other recently issued accounting pronouncements will not have a material impact on the Company’s consolidated financial statements or do not apply to its operations.

F-21

FIRST CAPITAL, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED

			(2)

			RESTRICTION ON CASH AND DUE FROM BANKS

Previously, the Bank was required to maintain reserve balances on hand and with the Federal Reserve Bank (“FRB”).  However, the FRB Board set the reserve requirement to 0% effective March 26, 2020. 

			(3)

			INVESTMENT SECURITIES

Investment securities have been classified in the consolidated balance sheets according to management’s intent.  Investment securities at December 31, 2024 and 2023 are summarized as follows:

			Gross

			Gross

			Amortized

			Unrealized

			Unrealized

			Fair

			(In thousands)

			Cost

			Gains

			Losses

			Value

			December 31, 2024

			Securities available for sale:

			Agency mortgage-backed securities

			$
			76,295

			$
			-

			$
			8,354

			$
			67,941

			Agency CMO

			47,821

			197

			500

			47,518

			Agency notes and bonds

			122,834

			6

			4,760

			118,080

			Treasury notes and bonds

			21,803

			-

			254

			21,549

			Municipal obligations

			150,182

			171

			16,198

			134,155

			Total securities available for sale

			$
			418,935

			$
			374

			$
			30,066

			$