Company: FCAP
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001171843-25-001868
Chunk: 1854

Company: FIRST CAPITAL INC
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9
Chunk 1854
---
,297

			1,845

			ACL - unfunded commitments

			32

			31

			Accrued Expenses

			58

			-

			Unrealized loss on equity securities

			252

			160

			Restricted stock

			18

			26

			Interest on nonaccrual loans

			143

			128

			Deferred income

			102

			160

			State tax credit carryforwards

			305

			381

			Other

			6

			7

			Deferred tax assets

			9,965

			10,046

			Depreciation

			(890
			)

			(921
			)

			Deferred loan fees and costs

			(285
			)

			(236
			)

			FHLB stock dividends

			(37
			)

			(37
			)

			Prepaid expenses

			(219
			)

			(246
			)

			Acquisition purchase accounting adjustments

			(228
			)

			(270
			)

			Other

			(23
			)

			(58
			)

			Deferred tax liabilities

			(1,682
			)

			(1,768
			)

			Net deferred tax asset

			$
			8,283

			$
			8,278

At December 31, 2024 and 2023, the Company had state tax credit carryforwards of $305,000 and $381,000, respectively, that may be carried forward nine years and expire in 2032 if unused.

At December 31, 2024 and 2023, the Company had no liability for unrecognized income tax benefits related to uncertain tax positions and does not anticipate any increase in the liability for unrecognized tax benefits during the next twelve months.   The Company believes that its income tax positions would be sustained upon examination and does not anticipate any adjustments that would result in a material change to its financial position or results of operations.  The Company files consolidated U.S. federal income tax returns and Indiana and Kentucky state income tax returns.  Returns filed in these jurisdictions for tax years ended on or after December 31, 2021 are subject to