First Capital Q3 net income flat at $3.1M; net interest spread narrows to 2.74%

FIRST CAPITAL INC

2023-Q3 EPS reported $2.89 revenue$5,229,000

Q3 net income $3.1M ($0.94 diluted EPS) vs $3.1M ($0.93) a year ago; nine-month net income $9.7M ($2.89) vs $8.4M ($2.49).
Net interest income after provision fell $236k as interest expense rose $2.3M (cost of liabilities 1.30% vs 0.20%).
Tax-equivalent interest rate spread narrowed to 2.74% from 3.07%; provision for credit losses increased to $290k.
Average borrowings of $16.3M (rate 5.22%) in Q3 2023 vs none in 2022; deposits decreased $42.9M to $1.02B.
Nonperforming assets increased to $1.6M from $1.4M at December 31, 2022.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FIRST CAPITAL INC reported the nine months ended September 30, 2023 results: net income $9.7 million, EPS $2.89 per diluted share.

Period: the nine months ended September 30, 2023
Net income: $9.7 million
EPS: $2.89 per diluted share
Result: reported results

Exact text from the filing

For the nine months ended September 30, 2023, the Company reported net income of $9.7 million or $2.89 per diluted share compared to net income of $8.4 million or $2.49 per diluted share for the same period in 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FIRST CAPITAL INC reported the quarter ended September 30, 2023 results: net income $3.1 million, EPS $0.94 per diluted share.

Period: the quarter ended September 30, 2023
Net income: $3.1 million
EPS: $0.94 per diluted share
Result: reported results

Exact text from the filing

First Capital, Inc. (the “Company”) (NASDAQ: FCAP), the holding company for First Harrison Bank (the “Bank”), today reported net income of $3.1 million or $0.94 per diluted share for the quarter ended September 30, 2023, compared to $3.1 million or $0.93 per diluted share for the quarter ended September 30, 2022.

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Source: SEC EDGAR

accession 0001171843-23-006505

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