Company: FCAP
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001171843-25-001868
Chunk: 504

Company: FIRST CAPITAL INC
Filing Date: 2025-03-31
Form: 10-K
Item: Item 13
Chunk 504
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 a core deposit intangible of $1.4 million in the acquisition of Peoples.  All of the Company’s previously acquired core deposit intangibles had been fully amortized prior to 2015.  Core deposit intangible amortization expense totaled $147,000 each year for 2024, 2023, and 2022. 

Core deposit intangibles subject to amortization as of December 31, 2024 and 2023 consisted of the following:

			(In thousands)

			2024

			2023

			Core deposit intangible acquired in Peoples acquisition

			$
			1,418

			$
			1,418

			Less accumulated amortization

			1,332

			1,186

			$
			86

			$
			232

The remaining $86,000 of core deposit intangible associated with the Peoples acquisition is expected to amortize in 2025.

			(8)

			DEPOSITS

Deposits at December 31, 2024 and 2023 consisted of the following:

			(In thousands)

			2024

			2023

			Noninterest-bearing demand deposits

			$
			197,993

			$
			205,535

			NOW accounts

			377,137

			391,232

			Savings accounts

			222,635

			237,542

			Money market accounts

			68,794

			65,315

			Time deposits

			199,880

			125,587

			Total deposits

			$
			1,066,439

			$
			1,025,211

The aggregate amount of time deposit accounts with balances that met or exceeded the Federal Deposit Insurance Corporation (“FDIC”) insurance limit of $250,000 was approximately $42.8 million and $32.4 million at December 31, 2024 and 2023, respectively. 

At December 31, 2024, scheduled maturities of time deposits were as follows:

			Year ending December 31:

			(In thousands)

			2025

			$
			188,235

			2026

			7,775

			2027

			1,971

			2028

			996

			2029