Company: FCAP
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001558370-25-011580
Chunk: 10

Company: FIRST CAPITAL INC
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 10
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 management believes involve the most complex and subjective estimates and judgments and have the most effect on the Company’s reported financial position and results of operations are described as critical accounting policies in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. During the six months ended June 30, 2025, there was no significant change in the Company’s critical account policies or the application of critical accounting policies as disclosed in the Company’s Annual report on Form 10-K for the year ended December 31, 2024.

Comparison of Financial Condition at June 30, 2025 and December 31, 2024

Total assets increased $55.2 million from $1.19 billion at December 31, 2024 to $1.24 billion at June 30, 2025.

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Net loans receivable (excluding loans held for sale) increased $18.0 million from $631.2 million at December 31, 2024 to $649.2 million at June 30, 2025. Multifamily residential, 1-4 family residential mortgage, 1-4 family residential construction, and commercial real estate loan increases of $9.5 million, $5.7 million, $4.1 million, and $3.8 million, respectively, were partially offset by decreases of $6.6 million and $1.7 million in other construction, development and land and consumer and other loans, respectively, during the six months ended June 30, 2025.

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Cash and cash equivalents increased from $105.9 million at December 31, 2024 to $134.6 million at June 30, 2025 primarily due to net deposit inflows at the Bank.

Securities available for sale increased $6.3 million from $389.2 million at December 31, 2024 to $395.6 million at June 30, 2025. Purchases of $54.5 million of securities classified as available for sale were made during the six months ended June 30, 2025 and consisted primarily of U.S. government agency CMOs and mortgage-backed securities and municipal bonds. Principal payments and maturities of available for sale securities totaled $15.4 million and $25.7 million, respectively, during the six months ended June 30, 2025. Securities classified as available for sale totaling $11.2 million were sold during