Company: FCAP
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001171843-25-001868
Chunk: 1066

Company: FIRST CAPITAL INC
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 1066
---
ends paid

			(3,768
			)

			(3,634
			)

			(3,520
			)

			Net Cash Provided By (Used In) Financing Activities

			15,896

			(17,844
			)

			21,288

			Net Increase (Decrease) in Cash and Cash Equivalents

			67,247

			(27,628
			)

			(106,211
			)

			Cash and cash equivalents at beginning of year

			38,670

			66,298

			172,509

			Cash and Cash Equivalents at End of Year

			$
			105,917

			$
			38,670

			$
			66,298

See notes to consolidated financial statements.

F-8

FIRST CAPITAL, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

			(1)

			SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Operations

First Capital, Inc. (the “Company”) is the financial holding company of First Harrison Bank (the “Bank”), a wholly-owned subsidiary.  The Bank is an Indiana chartered commercial bank which provides a variety of banking services to individuals and business customers through 18 locations in Indiana and Kentucky.  The Bank’s primary source of revenue is real estate mortgage loans.  The Bank originates mortgage loans for sale in the secondary market.  First Harrison Investments, Inc. and First Harrison Holdings, Inc. are wholly-owned Nevada corporate subsidiaries of the Bank that jointly own First Harrison, LLC, a Nevada limited liability company that holds and manages an investment securities portfolio.  First Harrison REIT, Inc. is a wholly-owned subsidiary of First Harrison Holdings, Inc. which holds a portion of the Bank’s real estate mortgage loan portfolio.  Heritage Hill, LLC is a wholly-owned subsidiary of the Bank that is currently inactive.  FHB Risk Mitigation Services, Inc. (the “Captive”) was a wholly-owned insurance subsidiary of the Company that provided property and casualty insurance coverage to the Company, the Bank and the Bank’s subsidiaries, and reinsurance to nine other third party insurance captives, for which insurance was not available or economically feasible in the insurance marketplace.  Refer to Note 24 – Captive Subsidiary for details regarding the status of the Captive. 

Basis of