secwatch.observer — SEC 8-K summary
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Issuer:     FIRST CAPITAL INC (FCAP)
CIK:        0001070296
Form:       8-K
Filed at:   2023-10-27T23:59:59+00:00
Accession:  0001171843-23-006505
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1070296/000117184323006505/0001171843-23-006505-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1070296/000117184323006505/f8k_102723.htm
  HTML page:      https://secwatch.observer/filing/0001171843-23-006505

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