Company: FCAP
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001171843-25-001868
Chunk: 672

Company: FIRST CAPITAL INC
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 672
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.

			(2)

			Average loan balances include loans held for sale and nonperforming loans.

			(3)

			Interest income on loans includes net accretion on acquired loans of $10,000 for the the year ended December 31, 2022. There was no net accretion of acquired loans for the years ended December 31, 2024 and 2023.

			(4)

			Includes taxable debt and equity securities and FHLB Stock.

			(5)

			Includes interest-bearing deposits with banks, federal funds sold and interest-bearing time deposits.

			(6)

			Stockholders' equity attributable to First Capital, Inc.

49

Rate/Volume Analysis.  The following table sets forth the effects of changing rates and volumes on net interest income and interest expense computed on a tax-equivalent basis.  Information is provided with respect to (i) effects on interest income attributable to changes in volume (changes in volume multiplied by prior rate); (ii) effects attributable to changes in rate (changes in rate multiplied by prior volume); and (iii) effects attributable to changes in rate and volume (change in rate multiplied by changes in volume).  Tax exempt income on loans and investment securities has been adjusted to a tax-equivalent basis using the federal marginal tax rate of 21%.

			2024 Compared to 2023

			2023 Compared to 2022

			Increase (Decrease) Due to

			Increase (Decrease) Due to

			Rate/

			Rate/

			Rate

			Volume

			Volume

			Net

			Rate

			Volume

			Volume

			Net

			(In thousands)

			Interest-earning assets:

			Loans:

			Taxable

			$
			2,284

			$
			2,374

			$
			163

			$
			4,821

			$
			4,941

			$
			2,875

			$
			569

			$
			8,385

			Tax-exempt

			64

			51

			13

			128

			11

			(2
			)

			-

			9

			Total loans

			2,348

			2,425

			176

			4,