FCAP

EX-99.1

2 fcap-20260724xex99d1.htm

EX-99.1

Exhibit 99.1

FIRST CAPITAL, INC. REPORTS QUARTERLY EARNINGS

Corydon, Indiana — (BUSINESS WIRE) — July 24, 2026.  First Capital, Inc. (the “Company”) (NASDAQ:  FCAP), the holding company for First Harrison Bank (the “Bank”), today reported net income of $4.8 million, or $1.43 per diluted share, for the quarter ended June 30, 2026, compared to net income of $3.8 million, or $1.13 per diluted share, for the quarter ended June 30, 2025.

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Results of Operations for the Three Months Ended June 30, 2026 and 2025

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Net interest income after provision for credit losses increased $1.6 million for the quarter ended June 30, 2026 compared to the same period in 2025.  Interest income increased $1.6 million when comparing the two periods due to an increase in the average tax-equivalent yield(1) on interest-earning assets from 4.82% for the second quarter of 2025 to 5.12% for the same period in 2026, in addition to an increase in the average balance of interest-earning assets from $1.18 billion for the second quarter of 2025 to $1.24 billion for the same period in 2026.  Interest expense decreased $93,000 when comparing the periods as the average cost of interest-bearing liabilities decreased from 1.64% for the quarter ended June 30, 2025 to 1.56% for the same period in 2026 while the average balance of interest-bearing liabilities increased from $883.8 million for the quarter ended June 30, 2025 to $907.3 million for the same period in 2026.  As a result of the changes in interest-earning assets and interest-bearing liabilities, the tax-equivalent net interest margin(1) increased from 3.59% for the quarter ended June 30, 2025 to 3.98% for the same period in 2026. Refer to the accompanying average balance sheet for more information regarding changes in the composition of the Company’s balance sheet and resulting yields and costs from the quarter ended June 30, 2025 to the quarter ended June 30, 2026.

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Based on management’s analysis of the Allowance for Credit Losses (“ACL”) on loans and unfunded loan commitments, the provision for credit losses increased from $306,000 for the quarter ended June 30, 2025 to $425,000 for the quarter ended June 30, 2026.  The Bank recognized net charge-offs of $58,000 and $113,000 for the quarters ended June 30, 2026 and 2025, respectively.

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Noninterest income increased $187,000 for the quarter ended June 30, 2026 as compared to the quarter ended June 30, 2025.  The increase is primarily due to the Company recognizing a $92,000 gain on equity securities during the quarter ended June 30, 2026 compared to a loss of $41,000 during the same period in 2025.  In addition, the Company recognized an increase of $54,000 in service charges on deposit accounts when comparing the two periods.

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Noninterest expenses increased $359,000 for the quarter ended June 30, 2026 as compared to the same period in 2025. This was primarily due to increases in compensation and benefits, advertising, and other expenses of $235,000, $84,000 and $79,000, respectively, when comparing the two periods.  The increase in compensation and benefits is due to increases in salary and wages associated with annual cost of living and performance related adjustments as well as increases in the cost of Company-provided health insurance benefits.  The increase in advertising expenses is related to various new marketing campaigns undertaken during the quarter ended June 30, 2026.  The increase in other expenses was primarily due to general inflationary pressures and routine pricing increases rather than any specific item.  These increases were partially offset by a $75,000 decrease in professional services when comparing the two periods due to fewer consulting fees during the quarter ended June 30, 2026.

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Income tax expense increased $397,000 for the quarter ended June 30, 2026 as compared to the same period in 2025 resulting in an effective tax rate of 20.8% for the quarter ended June 30, 2026, compared to 18.4% for the same period in 2025.  The increase in the Company’s effective tax rate for the quarter ended June 30, 2026 reflects a higher proportion of net income being subject to taxation compared to the same period last year.

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Results of Operations for the Six Months Ended June 30, 2026 and 2025

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For the six months ended June 30, 2026, the Company reported net income of $9.1 million, or $2.72 per diluted share, compared to net income of $7.0 million, or $2.09 per diluted share, for the same period in 2025.

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Net interest income after provision for credit losses increased $3.4 million for the six months ended June 30, 2026 compared to the same period in 2025.  Interest income increased $3.2 million when comparing the two periods due to an increase in the average tax-equivalent yield(1) on interest-earning assets from 4.73% for the six months ended June 30, 2025 to 5.04% for the same period in 2026, in addition to an increase in the average balance of interest-

EX-99.1

2 fcap-20260424xex99d1.htm

EX-99.1

Exhibit 99.1

FIRST CAPITAL, INC. REPORTS QUARTERLY EARNINGS

Corydon, Indiana — (BUSINESS WIRE) — April 24, 2026.  First Capital, Inc. (the “Company”) (NASDAQ:  FCAP), the holding company for First Harrison Bank (the “Bank”), today reported net income of $4.3 million, or $1.30 per diluted share, for the quarter ended March 31, 2026, compared to net income of $3.2 million, or $0.97 per diluted share, for the quarter ended March 31, 2025.

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Results of Operations for the Three Months Ended March 31, 2026 and 2025

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Net interest income after provision for credit losses increased $1.8 million for the quarter ended March 31, 2026 compared to the same period in 2025.  Interest income increased $1.6 million when comparing the two periods due to an increase in the average tax-equivalent yield(1) on interest-earning assets from 4.63% for the first quarter of 2025 to 4.96% for the same period in 2026, in addition to an increase in the average balance of interest-earning assets from $1.17 billion for the first quarter of 2025 to $1.22 billion for the same period in 2026.  Interest expense decreased $259,000 as the average cost of interest-bearing liabilities decreased from 1.71% for the quarter ended March 31, 2025 to 1.56% for the same period in 2026 while the average balance of interest-bearing liabilities increased from $881.6 million for the quarter ended March 31, 2025 to $901.4 million for the same period in 2026.  As a result of the changes in interest-earning assets and interest-bearing liabilities, the tax-equivalent net interest margin(1) increased from 3.34% for the quarter ended March 31, 2025 to 3.81% for the same period in 2026. Refer to the accompanying average balance sheet for more information regarding changes in the composition of the Company’s balance sheet and resulting yields and costs from the quarter ended March 31, 2025 to the quarter ended March 31, 2026.

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Based on management’s analysis of the ACL on loans and unfunded loan commitments, the provision for credit losses increased from $338,000 for the quarter ended March 31, 2025 to $350,000 for the quarter ended March 31, 2026.  The Bank recognized net charge-offs of $111,000 and $84,000 for the quarters ended March 31, 2026 and 2025, respectively.

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Noninterest income increased $200,000 for the quarter ended March 31, 2026 as compared to the quarter ended March 31, 2025.  The increase is primarily due to the Company recognizing an increase of $160,000 in the gain on equity securities when comparing the two periods.  In addition, the Company recognized increases of $45,000 and $44,000 in ATM and debit card fee income, and the gain on sale of loans, respectively, when comparing the two periods.  These increases were partially offset by the Company recognizing a $92,000 loss on sale of available for sale securities for the quarter ended March 31, 2026 compared to a loss of $55,000 for the same period in 2025.  The loss on sale of available for sale securities during the quarter ended March 31, 2026 was a result of management’s decision to sell $18.7 million of available for sale securities to better position the Company’s investment portfolio for increased future yields.

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Noninterest expenses increased $572,000 for the quarter ended March 31, 2026 as compared to the same period in 2025. This was primarily due to increases in professional services, compensation and benefits and other expenses of $241,000, $235,000 and $99,000, respectively, when comparing the two periods.  The increase in professional services is due to increased consulting fees.  The increase in compensation and benefits is due to increases in salary and wages associated with annual cost of living and performance related adjustments as well as increases in the cost of Company-provided health insurance benefits. The increase in other expenses is primarily due to an increase in consumer fraud losses recognized for the quarter ended March 31, 2026 as compared to the same period in 2025.

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Income tax expense increased $358,000 for the quarter ended March 31, 2026 as compared to the same period in 2025 resulting in an effective tax rate of 19.2% for the quarter ended March 31, 2026, compared to 17.2% for the same period in 2025.  The increase in the Bank’s effective tax rate for the quarter ended March 31, 2026 reflects a higher proportion of net income being subject to taxation compared to the same period last year.

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Comparison of Financial Condition at March 31, 2026 and December 31, 2025

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Total assets were $1.28 billion at March 31, 2026 compared to $1.27 billion at December 31, 2025.  Cash and cash equivalents and net loans receivable increased $12.4 million and $10.3 million, respectively, from December 31, 2025 to March 31, 2026. These increases were partially offset by a decrease of $9.4 million in available for sale securities when comparing the two periods.  Deposits increased $13.6 million from $1.12 billion

FIRST CAPITAL, INC._January 23, 2026 0001070296false00010702962026-01-232026-01-23 ​

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported):  January 23, 2026

FIRST CAPITAL, INC.

(Exact name of registrant as specified in its charter)

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Indiana ​ 0-25023 ​ 35-2056949

(State or Other Jurisdiction of Incorporation) ​ (Commission File Number) ​ (I.R.S. Employer Identification No.)

​ 220 Federal Drive N.W. Corydon, Indiana 47112 (Address of Principal Executive Offices) (Zip Code) (812) 738-2198 (Registrant's telephone number, including area code) Not Applicable (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

​ Securities registered pursuant to Section 12(b) of the Act: Title of each class ​ Trading Symbol(s) ​ Name of each exchange on which registered

Common stock, par value $0.01 per share ​

FCAP

​ The NASDAQ Stock Market LLC

​ Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ ​ ​

Item 2.02. Results of Operations and Financial Condition. On January 23, 2026, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference. Item 9.01. Financial Statements and Exhibits.

Exhibit 99.1

Press Release dated January 23, 2026

Exhibit 104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

FIRST CAPITAL, INC.

Date: January 23, 2026 By: /s/ Joshua P. Stevens

Joshua P. Stevens

Executive Vice President and Chief Financial Officer

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