Company: FCAP
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001171843-25-001868
Chunk: 990

Company: FIRST CAPITAL INC
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 990
---
 ROU asset included in other assets on the consolidated balance sheets totaling $23,000 at December 31, 2023. The Company recorded a lease liability in other liabilities on the consolidated balance sheets totaling $23,000 at December 31, 2023. 

Certain leases may include one or more options to renew, with renewal terms that can extend the lease term from one to 20 years or more. At December 31, 2024, the Company had not entered into any leases that had yet to commence that conveyed the right to control the use of the property to the Company.

Lease expense for the years ended December 31, 2024, 2023 and 2022 was $35,000, $34,000 and $32,000, respectively.  The components of lease expense for the years ended December 31, 2024, 2023 and 2022 were as follows:

			(In thousands)

			2024

			2023

			2022

			Operating lease cost

			$
			19

			$
			19

			$
			19

			Short-term lease cost

			16

			15

			13

			Totals

			$
			35

			$
			34

			$
			32

Future minimum commitments due under operating lease agreements as of December 31, 2024 are as follows, including renewal options that are reasonably certain to be exercised:

			Year ending December 31:

			(In thousands)

			2025

			5

			Total lease payments

			5

			Less imputed interest

			(1
			)

			Total

			$
			4

The lease term and discount rate at December 31, 2024 and 2023 were as follows:

			2024

			2023

			Weighted-average remaining lease term (years)

			0.25

			1.25

			Weighted-average discount rate

			1.34
			%

			1.34
			%

Supplemental cash flow information for the years ended December 31, 2024, 2023 and 2022 related to leases was as follows:

			2024

			2023

			2022

			(In thousands)

			Cash paid for amounts