The bank maintains a conservative capital structure with an equity-to-assets ratio of 11% as of 2026Q1, while holding a significant $150.9 million in cash and bank balances.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 |
|---|
| Cash & Short Term Investments | 1.71B | 391.73M | 497.86M | 464.37M | 493.55M | 479.61M | 325.05M | 283.39M | 288.66M | 300.64M | 291.28M | 221.8M | 123.01M | 123.71M | 136.22M | 122.76M | 12.96M | 15.86M | 21.25M | 14.66M | 24.16M | 14.4M | 16.37M | 13.56M | 12.65M | 12.38M | 11.47M | 9.52M | 2.6M |
| Cash & Due from Banks | 150.87M | 138.76M | 108.61M | 27.1M | 32.73M | 32.27M | 41.55M | 28.82M | 26.82M | 29.47M | 35.44M | 35.05M | 22.79M | 14.95M | 13.25M | 11.32M | 12.96M | 15.86M | 21.25M | 14.66M | 24.16M | 14.4M | 16.37M | 13.56M | 12.65M | 12.38M | 11.47M | 9.52M | 2.6M |
| Short Term Investments | 258.77M | 252.97M | 389.24M | 437.27M | 460.82M | 447.33M | 283.5M | 254.56M | 261.84M | 271.17M | 255.84M | 186.75M | 100.23M | 108.76M | 122.97M | 111.44M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 1.08B | 1.08B | 1.03B | 1.06B | 1.03B | 935.03M | 791.77M | 725.23M | 698.95M | 683.42M | 641.43M | 549M | 402.44M | 398.89M | 407M | 390.41M | 399.81M | 406.35M | 406.45M | 408.76M | 408.33M | 399.37M | 384.05M | 371.95M | 282.45M | 258.46M | 225.31M | 197.4M | 113.4M |
| Investments Growth % | 11.08% | 5.04% | -2.98% | 3.21% | 9.79% | 18.09% | 9.18% | 3.76% | 2.27% | 6.55% | 16.84% | 36.42% | 0.89% | -1.99% | 4.25% | -2.35% | -1.61% | -0.03% | -0.57% | 0.11% | 2.24% | 3.99% | 3.25% | 31.69% | 9.28% | 14.71% | 14.14% | 74.08% | - |
| Long-Term Investments | 3.12B | 826.78M | 638.67M | 622.21M | 565.75M | 487.7M | 508.27M | 470.67M | 437.11M | 412.25M | 385.66M | 362.25M | 302.22M | 290.13M | 284.03M | 278.97M | 399.81M | 406.35M | 406.45M | 408.76M | 408.33M | 399.37M | 384.05M | 371.95M | 282.45M | 258.46M | 225.31M | 197.4M | 113.4M |
| Accounts Receivables | 4.92M | 5.1M | 4.58M | 4.79M | 4.29M | 3.43M | 3.43M | 3.08M | 2.83M | 2.69M | 2.36M | 2.24M | 1.58M | 1.72M | 1.76M | 1.8M | 1.89M | 2.05M | 2.33M | 2.55M | 2.5M | 2.46M | 2.1M | 2.17M | 1.79M | 1.84M | 1.95M | 1.58M | 900K |
| Goodwill & Intangibles | 6.47M | 6.47M | 6.56M | 6.7M | 6.85M | 7M | 7.14M | 7.29M | 7.44M | 7.58M | 7.73M | 7.88M | 5.39M | 5.39M | 5.39M | 5.42M | 5.48M | 5.56M | 5.63M | 5.7M | 5.78M | 5.85M | 5.92M | 5.99M | 0 | 0 | 0 | 0 | 0 |
| Goodwill | 6.47M | 6.47M | 6.47M | 6.47M | 6.47M | 6.47M | 6.47M | 6.47M | 6.47M | 6.47M | 6.47M | 6.47M | 5.39M | 5.39M | 5.39M | 5.39M | 5.39M | 5.39M | 5.39M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 86K | 232K | 379K | 526K | 672K | 819K | 966K | 1.11M | 1.26M | 1.41M | 0 | 0 | 0 | 32K | 98K | 171K | 244K | 5.7M | 5.78M | 5.85M | 5.92M | 5.99M | 0 | 0 | 0 | 0 | 0 |
| PP&E (Net) | 14.57M | 14.36M | 14.18M | 14.41M | 14.67M | 15.18M | 15.95M | 16.41M | 14.36M | 15.03M | 14.84M | 13.94M | 10.21M | 10.35M | 10.76M | 10.72M | 10.99M | 11.59M | 11.36M | 10.61M | 9.22M | 9.29M | 9.9M | 10.29M | 7M | 5.94M | 6.23M | 6.46M | 3.7M |
| Other Assets | 27.41M | 27.55M | 25.68M | 45.4M | 66.3M | 163.69M | 157.7M | 46.66M | 43.76M | 20.76M | 41.78M | 107.72M | 30.36M | 13.1M | 20.98M | 19.21M | 21.24M | 14.13M | 11.6M | 10.9M | 7.12M | 6.98M | 6.97M | 5.17M | 4.55M | 4.2M | 3.63M | 7.83M | 2.1M |
| Total Current Assets | 414.55M | 396.83M | 502.43M | 469.16M | 497.83M | 483.04M | 328.49M | 286.46M | 291.49M | 303.33M | 293.64M | 224.04M | 124.59M | 125.43M | 137.98M | 124.56M | 14.85M | 17.91M | 23.58M | 17.2M | 26.65M | 16.87M | 18.47M | 15.73M | 14.45M | 14.22M | 13.41M | 11.1M | 3.5M |
| Total Non-Current Assets | 869.6M | 875.17M | 685.09M | 688.72M | 653.57M | 673.57M | 689.06M | 541.03M | 502.67M | 455.62M | 450.01M | 491.79M | 348.17M | 318.96M | 321.15M | 314.33M | 437.52M | 437.62M | 435.04M | 435.97M | 430.45M | 421.49M | 406.83M | 393.4M | 294.11M | 268.6M | 235.17M | 211.7M | 119.2M |
| Total Assets | 1.28B | 1.27B | 1.19B | 1.16B | 1.15B | 1.16B | 1.02B | 827.5M | 794.16M | 758.96M | 743.66M | 715.83M | 472.76M | 444.38M | 459.13M | 438.89M | 452.38M | 455.53M | 458.63M | 453.18M | 457.11M | 438.35M | 425.3M | 409.14M | 308.55M | 282.82M | 248.58M | 222.8M | 122.7M |
| Asset Growth % | 23.53% | 7.11% | 2.56% | 0.56% | -0.45% | 13.67% | 22.97% | 4.2% | 4.64% | 2.06% | 3.89% | 51.41% | 6.39% | -3.21% | 4.61% | -2.98% | -0.69% | -0.67% | 1.2% | -0.86% | 4.28% | 3.07% | 3.95% | 32.6% | 9.1% | 13.77% | 11.57% | 81.58% | - |
| Return on Assets (ROA) | 1.39% | 1.33% | 1.02% | 1.11% | 1.03% | 1.05% | 1.1% | 1.27% | 1.19% | 0.99% | 0.94% | 0.87% | 1.22% | 1.12% | 0.87% | 0.89% | 0.85% | 0.17% | 0.78% | 0.75% | 0.83% | 0.85% | 0.82% | 0.98% | 1.1% | 1.17% | 1.04% | 1.02% | 0.81% |
| Accounts Payable | 2.16M | 2.19M | 1.92M | 1.21M | 123K | 97K | 153K | 210K | 150K | 107K | 133K | 167K | 127K | 192K | 290K | 413K | 649K | 980K | 1.42M | 1.9M | 1.86M | 1.5M | 1.29M | 1.16M | 1.13M | 1.25M | 1.31M | 970.68K | 0 |
| Total Debt | 0 | 0 | 0 | 21.5M | 0 | 0 | 0 | 0 | 0 | 10M | 0 | 0 | 0 | 24.12M | 19.19M | 30.6M | 33.07M | 32.73M | 52.38M | 76.26M | 78.69M | 90.14M | 65.73M | 60.76M | 53.78M | 43.11M | 30.07M | 16.75M | 12.3M |
| Net Debt | -150.87M | -138.76M | -108.61M | -5.6M | -32.73M | -32.27M | -41.55M | -28.82M | -26.82M | -19.47M | -35.51M | -35.05M | -22.79M | 9.17M | 5.94M | 19.28M | 20.11M | 16.87M | 31.13M | 61.6M | 54.53M | 75.73M | 49.37M | 47.2M | 41.12M | 30.73M | 18.61M | 7.23M | 9.7M |
| Long-Term Debt | 0 | 0 | 0 | 21.5M | 0 | 0 | 0 | 0 | 0 | 10M | 0 | 0 | 0 | 5.5M | 5.1M | 12.35M | 15.73M | 24.78M | 47.83M | 60.69M | 59.46M | 65.95M | 53.45M | 0 | 0 | 0 | 0 | 0 | 0 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 19K | 0 | 0 | 0 | 0 | 0 | 0 | 18.62M | 14.09M | 18.25M | 17.34M | 7.95M | 4.55M | 15.56M | 19.23M | 24.19M | 12.29M | 60.76M | 53.78M | 43.11M | 30.07M | 16.75M | 12.3M |
| Other Liabilities | 7.27M | 8.9M | 4.45M | 4.62M | 0 | 0 | 906.8M | 728.55M | 708.21M | 0 | 667.82M | 641.32M | 415.53M | -9.31M | 0 | -9.13M | -8.67M | -15.73M | -32.78M | -768K | -542K | -14M | -179.84K | -306.38K | -10.75K | -393.84K | -579.94K | 858.62K | 597.55K |
| Total Current Liabilities | 1.14B | 1.13B | 1.07B | 1.03B | 1.07B | 1.04B | 906.8M | 728.55M | 708.21M | 667.91M | 667.82M | 641.32M | 415.53M | 394.86M | 401.1M | 384.61M | 397.31M | 384.7M | 363.27M | 347.52M | 354.1M | 344.45M | 331.32M | 365.55M | 272.23M | 249.74M | 218.05M | 193.06M | 104.8M |
| Total Non-Current Liabilities | 7.27M | 8.9M | 4.45M | 26.11M | 0 | 0 | 906.8M | 728.55M | 708.21M | 10M | 667.82M | 641.32M | 415.53M | -3.81M | 5.1M | 3.23M | 7.06M | 24.78M | 47.83M | 59.93M | 58.92M | 51.95M | 53.27M | -306.38K | -10.75K | -393.84K | -579.94K | 858.62K | 597.55K |
| Total Liabilities | 1.15B | 1.13B | 1.07B | 1.05B | 1.07B | 1.04B | 906.8M | 728.55M | 708.21M | 677.91M | 667.82M | 641.32M | 415.53M | 391.05M | 406.2M | 387.83M | 404.37M | 409.48M | 411.1M | 407.44M | 413.02M | 396.4M | 384.59M | 365.24M | 272.22M | 249.34M | 217.47M | 193.92M | 105.4M |
| Total Equity | 138.15M | 137.91M | 114.71M | 105.34M | 85.27M | 113.94M | 110.75M | 98.95M | 85.96M | 81.05M | 75.84M | 74.51M | 57.23M | 53.34M | 52.94M | 51.05M | 48M | 46.06M | 47.52M | 45.74M | 44.09M | 41.96M | 40.71M | 43.9M | 36.33M | 33.48M | 31.11M | 28.88M | 17.3M |
| Equity Growth % | 62.89% | 20.22% | 8.89% | 23.54% | -25.16% | 2.88% | 11.93% | 15.11% | 6.05% | 6.87% | 1.79% | 30.18% | 7.3% | 0.76% | 3.69% | 6.35% | 4.23% | -3.08% | 3.91% | 3.74% | 5.08% | 3.05% | -7.25% | 20.82% | 8.51% | 7.63% | 7.73% | 66.92% | - |
| Equity / Assets (Capital Ratio) | 10.76% | 10.84% | 9.66% | 9.1% | 7.41% | 9.85% | 10.88% | 11.96% | 10.82% | 10.68% | 10.2% | 10.41% | 12.11% | 12% | 11.53% | 11.63% | 10.61% | 10.11% | 10.36% | 10.09% | 9.65% | 9.57% | 9.57% | 10.73% | 11.77% | 11.84% | 12.51% | 12.96% | 14.1% |
| Return on Equity (ROE) | 13.13% | 12.96% | 10.85% | 13.42% | 11.95% | 10.17% | 9.66% | 11.17% | 11.08% | 9.48% | 9.13% | 7.89% | 10.12% | 9.55% | 7.54% | 8.02% | 8.22% | 1.64% | 7.65% | 7.6% | 8.62% | 8.92% | 8.11% | 8.81% | 9.31% | 9.6% | 8.2% | 7.67% | 5.78% |
| Book Value per Share | 41.38 | 41.19 | 34.28 | 31.47 | 25.42 | 34.05 | 33.07 | 29.59 | 25.77 | 24.34 | 22.68 | 26.76 | 20.77 | 19.15 | 19.01 | 18.32 | 17.23 | 16.54 | 16.88 | 16.09 | 15.46 | 14.68 | 13.27 | 14.57 | 13.20 | 12.28 | 11.50 | 20.30 | 12.17 |
| Tangible BV per Share | 39.44 | 39.26 | 32.32 | 29.47 | 23.37 | 31.96 | 30.93 | 27.41 | 23.54 | 22.06 | 20.37 | 23.93 | 18.82 | 17.22 | 17.07 | 16.38 | 15.26 | 14.55 | 14.88 | 14.08 | 13.43 | 12.63 | 11.34 | 12.58 | 13.20 | 12.28 | 11.50 | 20.30 | 12.17 |
| Common Stock | 38K | 38K | 38K | 38K | 38K | 38K | 38K | 38K | 38K | 38K | 38K | 38K | 32K | 32K | 32K | 32K | 32K | 31K | 31K | 31K | 31K | 29K | 28.46K | 28.44K | 25.52K | 25.46K | 25.37K | 25.07K | 0 |
| Additional Paid-in Capital | 42.02M | 41.82M | 41.68M | 41.59M | 41.64M | 41.68M | 41.68M | 40.72M | 40.22M | 39.52M | 39.52M | 39.52M | 24.31M | 24.31M | 24.31M | 24.31M | 24.31M | 24.02M | 23.97M | 23.86M | 23.65M | 19.4M | 19.28M | 19.18M | 12.95M | 12.88M | 12.81M | 12.45M | 0 |
| Retained Earnings | 120.93M | 117.64M | 105.29M | 97.11M | 88.47M | 80.07M | 72.16M | 65.27M | 58.14M | 51.97M | 47.05M | 42.99M | 40.23M | 36.95M | 34.1M | 32.3M | 30.44M | 28.64M | 29.87M | 28.28M | 26.78M | 28.99M | 26.89M | 25.09M | 23.08M | 21.13M | 19.22M | 17.78M | 8.9M |
| Accumulated OCI | -14.72M | -11.65M | -22.99M | -24.03M | -35.74M | 1.73M | 6.82M | 2.14M | -3.48M | -2.06M | -2.28M | 497K | 800K | -720K | 1.7M | 1.61M | 391K | 490K | 270K | -174K | -784K | -1.01M | -302.14K | -92.71K | 386.63K | -462.69K | -951.01K | -1.38M | 0 |
| Treasury Stock | -9.88M | -9.88M | -9.28M | -9.22M | -8.69M | -8.66M | -8.54M | -8.39M | -8.35M | -8.31M | -8.3M | -8.26M | -8.25M | -7.34M | -7.33M | -7.31M | -7.29M | -7.24M | -6.62M | -6.27M | -5.59M | -5.45M | -5.18M | -315.4K | -116.66K | -87.47K | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Excessive Liquidity Drag
According to the quarterly balance sheet data, First Capital has expanded its total assets to $1.3 billion as of 2026Q1, primarily fueled by a significant accumulation of cash and equivalents which rose from $24.6 million in 2024Q1 to $150.9 million in the most recent period.
The asset growth trajectory appears heavily skewed toward liquid, low-yielding assets rather than organic loan expansion. This suggests a defensive posture that may protect the bank against regional volatility but potentially limits the upside of its net interest margin in a stable rate environment.
Based on reported financial statements, the bank's equity-to-assets ratio has remained steady at approximately 11% over the last ten quarters, indicating a robust capital buffer that exceeds typical regulatory requirements for a community bank of this size and geographic footprint.
This consistent capital position suggests that management prioritizes balance sheet resilience over aggressive leverage. Investors should monitor whether this capital adequacy remains a source of strength or becomes a drag on return on equity if the bank fails to deploy its excess liquidity into higher-yielding assets.
As reported in the 2026Q1 filings, the bank's cash and bank balances reached $150.9 million, representing a substantial increase from the $27.1 million reported in 2023Q4, which highlights a significant shift toward a highly liquid, low-risk balance sheet composition.
The rapid buildup of cash suggests that the bank is currently struggling to find attractive, risk-adjusted lending opportunities within its Southern Indiana market. While this provides a massive contingent funding buffer, it may also indicate a lack of loan demand that could pressure future revenue growth if the trend persists.
Data from the balance sheet indicates that investment securities remain the dominant asset class at $1.1 billion, a figure that has remained largely unchanged since 2024Q2, suggesting a potential duration mismatch if interest rates remain elevated for an extended period.
The concentration of assets in a static securities portfolio warrants further investigation into the unrealized loss profile within the AOCI. If these securities are long-duration, the bank may face significant valuation headwinds that are not immediately apparent in the headline equity figures.
Quick answers to the most common questions about buying FCAP stock.
As of 2025, First Capital, Inc. (FCAP) had total assets of $1.27B including $396.8M in current assets.
First Capital, Inc. (FCAP) carries total debt of $0.0M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
First Capital, Inc. (FCAP) has total shareholders' equity (book value) of $137.8M ($41.19 book value per share). Book value represents the net worth of the company belonging to common stock holders.
First Capital, Inc. (FCAP) reported a current ratio of 0.35x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.