Company: FCAP
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001171843-25-003186
Chunk: 60

Company: FIRST CAPITAL INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 60
---
2025, the carrying value of U.S. Treasury notes and mortgage loans pledged as security for future FHLB advances was $5.0 million and $54.7 million, respectively.  At March 31, 2025, the Company had a $31.7 million borrowing capacity limit with the FHLB based on pledged collateral.

On February 28, 2024, the Bank entered into an Overdraft Line of Credit Agreement with the FHLB which established a line of credit not to exceed $10.0 million secured under the blanket collateral agreement.  This agreement expired on February 28, 2025 and automatically renewed for an additional one-year term.  At March 31, 2025 and December 31, 2024, there no borrowings under the agreement.

During the three month period ended March 31, 2025, the Company did not utilize any FHLB advances.  During the three month period ended March 31, 2024, the Company utilized a series of short-term fixed-rate bullet and variable rate advances from the FHLB in order to meet daily liquidity requirements and to fund growth in earning assets. The fixed-rate bullet advances had an average term of seven days.

-29-

FIRST CAPITAL, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(7 – continued)

The following table sets forth information on the short-term FHLB advances and BTFP borrowings during the three month period ended March 31, 2024:

			Three Months Ended

			March 31,

			(Dollars in thousands)

			2024

			FHLB variable-rate advances

			Maximum balance at any month end

			$
			-

			Average balance

			1,192

			Period end balance

			-

			Weighted average interest rate (annualized):

			At end of period

			0.00
			%

			During the period

			5.78
			%

			FHLB fixed-rate bullet advances

			Maximum balance at any month end

			$
			13,000

			Average balance

			2,220

			Period end balance

			-

			Weighted average interest rate (annualized):

			At end of period

			0.00
			%

			During the period

			5.63