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Stock impact report

First Capital, Inc. Reports Annual And Quarterly Earnings [Yahoo! Finance]

First Capital, Inc. (FCAP) 
US:NASDAQ Investor Relations: fcr.ca
Company Research Source: Yahoo! Finance
Bank (the “Bank”), today reported net income of $12.8 million, or $3.82 per diluted share, for the year ended December 31, 2023, compared to net income of $11.9 million, or $3.55 per diluted share, for the year ended December 31, 2022. Net interest income after provision for credit losses increased $2.1 million for the year ended December 31, 2023 compared to the same period in 2022. Interest income increased $9.7 million when comparing the two periods due to an increase in the average tax-equivalent yield on interest-earning assets from 3.10% for the year ended December 31, 2022 to 3.96% for the same period in 2023. Interest expense increased $7.4 million as the average cost of interest-bearing liabilities increased from 0.20% for the year ended December 31, 2022 to 1.11% for the same period in 2023. The Company had average outstanding advances from the Federal Home Loan Bank (“FHLB”) of $6.1 million with an average rate of 5.59% and average outstanding borrowings under the Federal Show less Read more
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