Company: FCAP
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001171843-25-001868
Chunk: 669

Company: FIRST CAPITAL INC
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 669
---
 tax expense.

Average Balances and Yields.  The following table sets forth certain information for the periods indicated regarding average balances of assets and liabilities, as well as the total dollar amounts of interest income from average interest-earnings assets and interest expense on average interest-bearing liabilities and average yields and costs.  Such yields and costs for the periods indicated are derived by dividing income or expense by the average historical cost balances of assets or liabilities, respectively, for the periods presented and do not give effect to changes in fair value that are included as a separate component of stockholders’ equity.  Average balances are derived from daily balances.  Tax-exempt income on loans and investment securities has been adjusted to a tax equivalent basis using the federal marginal tax rate of 21%.

48

			Year ended December 31,

			2024

			2023

			2022

			Average

			Average

			Average

			(Dollars in thousands)

			Average

			Yield/

			Average

			Yield/

			Average

			Yield/

			Balance

			Interest

			Cost

			Balance

			Interest

			Cost

			Balance

			Interest

			Cost

			Interest-earning assets:

			Loans (1) (2) (3):

			Taxable

			$
			624,193

			$
			37,974

			6.08
			%
			 
			$
			582,465

			$
			33,153

			5.69
			%
			 
			$
			521,945

			$
			24,768

			4.75
			%

			Tax-exempt

			9,805

			377

			3.84
			%

			8,144

			249

			3.06
			%

			8,214

			240

			2.92
			%

			Total loans

			633,998

			38,351

			6.05
			%

			590,609

			33,402

			5.66
			%

			530,159

			25,008

			4.72
			%

			Investment securities:

			Taxable (4