Company: FCAP
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001171843-25-001868
Chunk: 1833

Company: FIRST CAPITAL INC
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9
Chunk 1833
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OLIDATED FINANCIAL STATEMENTS - CONTINUED

(3 - continued)

In December 2015, the Company acquired Peoples Bancorp, Inc. of Bullitt County and its wholly-owned bank subsidiary, Peoples Bank of Bullitt County (“Peoples”), headquartered in Shepherdsville, Kentucky.  Peoples owned Class B shares of VISA that were carried at an amortized costs basis of zero and were subsequently transferred to the Company.  During the year ended December 31, 2023, the Company sold all the VISA Class B shares owned for a gross gain of $157,000 which is included in the gain on sale of securities in noninterest income.  There were no such sales during the year ended December 31, 2022.

			(4)

			LOANS AND ALLOWANCE FOR CREDIT LOSSES

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

			December 31,

			December 31,

			(In thousands)

			2024

			2023

			1-4 Family Residential Mortgage

			$
			138,936

			$
			133,480

			Home Equity and Second Mortgage

			66,549

			62,070

			Multifamily Residential

			36,822

			39,963

			1-4 Family Residential Construction

			15,245

			15,667

			Other Construction, Development and Land

			75,840

			76,713

			Commercial Real Estate

			184,851

			168,757

			Commercial Business

			62,727

			68,223

			Consumer and Other

			58,406

			56,373

			Principal loan balance

			639,376

			621,246

			Deferred loan origination fees and costs, net

			1,104

			1,168

			Allowance for credit losses

			(9,281
			)

			(8,005
			)

			Loans, net

			$
			631,199

			$
			614,409

The Bank has entered into loan transactions with certain directors, officers and their affiliates (i.e., related parties).

The following table represents the aggregate activity for related party loans during the years ended December