Company: FCAP
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001171843-25-003186
Chunk: 43

Company: FIRST CAPITAL INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 43
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31, 2025, the Company recognized gross gains of $31,000 and gross losses of $86,000 on sales of available for sale securities.  During the three months ended March 31, 2024, the Company recognized gross gains of $133,000 and gross losses of $101,000 on sales of available for sale securities.

At March 31, 2025 and December 31, 2024, there were no holdings of securities of any one issuer, other than the U.S. Government and its agencies, with an aggregate book value greater that 10% of stockholders’ equity.

Accrued interest receivable on available for sale debt securities totaled $2.1 million at both March 31, 2025 and December 31, 2024, respectively, and was reported in accrued interest receivable on the consolidated balance sheets and is excluded from the estimate of credit losses.

Accrued interest receivable on held to maturity debt securities totaled $18,000 at both March 31, 2025 and December 31, 2024, and was reported in accrued interest receivable on the consolidated balance sheets and is excluded from the estimate of credit losses.

Equity Securities

In September 2018, the Company acquired 90,000 shares of common stock in another BHC, representing approximately 5% of the outstanding common stock of the entity, for a total investment of $1.9 million.  During the three months ended March 31, 2025, the Company recognized an unrealized gain of $18,000.  During the three months ended March 31, 2024, the Company recognized an unrealized loss of $68,000.  At March 31, 2025 and December 31, 2024, the equity investment had a fair value of $905,000 and $887,000, respectively, and is included in other assets on the consolidated balance sheets.

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FIRST CAPITAL, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(3 – continued)

In October 2021, the Company entered into an agreement to invest in a bank technology fund through a limited partnership.  At both March 31, 2025 and December 31, 2024, the Company’s investment in the limited partnership was $965,000 and is reflected in other assets on the consolidated balance sheets.  The unfunded commitment related to the limited partnership investment at March