Powerpack

Unlock full stockrow access for only $9.90/month and boost yourself as an investor.

  • Full quarterly history

    Every quarter and TTM period we hold, not just the last 12.

  • Analyst estimates

    Three years of forward estimates and dividend forecasts.

  • Unlimited screener

    All results, unlimited saved screens, email when a screen changes.

  • Unlimited Excel

    Full workbooks and screener exports.

  • Unlimited follows

See Powerpack
Screener Weekly Summary Pricing

First Capital, Inc. FCAP

Financial  —  Banks Regional
60.29 (0.86) (1.41%) as of 25 Sep
Market cap
$204.5M
P/E
10.9×
Dividend Aristocrat
Growth Flags show if company had growth for consecutive years
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

First Capital, Inc. (FCAP) Business Profile

Updated before January 2025

Company Overview

First Capital, Inc. (FCAP) is a financial services company headquartered in Corydon, Indiana. Established in 1998, FCAP operates as the holding company for First Harrison Bank, a community-focused financial institution. The company has a rich history of serving individuals, businesses, and communities in Southern Indiana and nearby regions. Over the years, FCAP has built a reputation for providing personalized banking services and fostering long-term relationships with its customers.

The leadership team at FCAP is composed of seasoned professionals with extensive experience in the banking and financial services industry. The company’s CEO, William W. Harrod, has been instrumental in driving growth and innovation while maintaining a strong commitment to customer service. Under his leadership, FCAP has expanded its footprint and diversified its offerings to meet the evolving needs of its clientele.

Core Business Segments

Retail Banking

FCAP offers a comprehensive range of retail banking services designed to meet the needs of individual customers. These include:

  • Checking and Savings Accounts: Flexible account options with competitive interest rates and low fees.
  • Certificates of Deposit (CDs): Fixed-term savings products with attractive returns.
  • Consumer Loans: Personal loans, auto loans, and home equity lines of credit tailored to individual financial goals.

Commercial Banking

The company provides a suite of financial solutions for small and medium-sized businesses, including:

  • Business Checking and Savings Accounts: Customized accounts to manage cash flow efficiently.
  • Commercial Loans: Financing options for business expansion, equipment purchases, and working capital needs.
  • Treasury Management Services: Tools to optimize cash management and streamline operations.

Mortgage Lending

FCAP is a trusted provider of mortgage solutions, offering:

  • Home Purchase Loans: Competitive rates and flexible terms for first-time and repeat homebuyers.
  • Refinancing Options: Solutions to lower monthly payments or access home equity.
  • Construction Loans: Financing for building new homes or renovating existing properties.

Wealth Management

Through its wealth management division, FCAP helps clients achieve their financial goals by offering:

  • Investment Advisory Services: Personalized investment strategies based on individual risk tolerance and objectives.
  • Retirement Planning: Comprehensive plans to ensure financial security in retirement.
  • Trust Services: Estate planning and trust administration to preserve and transfer wealth.

Business Model

FCAP operates on a community banking model, emphasizing personalized service and local decision-making. The company generates revenue primarily through interest income from loans and investments, as well as non-interest income from fees and service charges. By integrating its diverse product offerings, FCAP provides a seamless banking experience for its customers. The company’s focus on relationship banking enables it to build trust and loyalty, which are critical to its long-term success.

Strategic Direction

FCAP is committed to sustainable growth and innovation. The company’s strategic priorities include:

  • Expanding Digital Banking Services: Investing in technology to enhance online and mobile banking capabilities.
  • Growing Market Share: Expanding its presence in existing markets and entering new ones through strategic acquisitions and branch openings.
  • Sustainability Goals: Implementing environmentally friendly practices and supporting community development initiatives.
  • Product Diversification: Exploring new product categories, such as insurance and fintech solutions, to meet emerging customer needs.

Competitive Landscape

FCAP operates in a competitive market, facing challenges from both regional and national financial institutions. Key competitors include:

  • Regional Banks: Institutions like German American Bancorp and Old National Bank, which also focus on community banking.
  • National Banks: Larger players such as Chase and Bank of America, which offer a broader range of services and extensive branch networks.
  • Credit Unions: Local credit unions that provide similar products with a focus on member benefits.

Despite the competition, FCAP differentiates itself through its personalized service, local expertise, and commitment to community development.

Risk Factors

Like any financial institution, FCAP faces several risks, including:

  • Economic Conditions: Changes in interest rates, unemployment levels, and economic growth can impact loan demand and credit quality.
  • Regulatory Compliance: Adhering to complex and evolving banking regulations requires significant resources.
  • Market Dependence: Heavy reliance on specific geographic markets makes the company vulnerable to regional economic downturns.
  • Cybersecurity Threats: Increasing reliance on digital banking exposes FCAP to potential data breaches and cyberattacks.
  • Supply Chain Disruptions: Challenges in technology procurement could impact the rollout of digital services.

Recent Developments

In recent years, FCAP has made significant strides in enhancing its digital banking platform, introducing features such as mobile check deposit and real-time account alerts. The company has also expanded its mortgage lending operations, capitalizing on low interest rates and strong housing demand. Additionally, FCAP has strengthened its commitment to sustainability by adopting green banking practices and supporting local environmental initiatives.

Global developments, such as the COVID-19 pandemic, have accelerated the adoption of digital banking and highlighted the importance of financial resilience. FCAP has responded by increasing its investment in technology and offering financial relief programs to affected customers.

Investment Considerations

Strengths

  • Strong Community Focus: Deep ties to local communities and a customer-centric approach.
  • Diverse Product Portfolio: Comprehensive range of financial products and services.
  • Experienced Leadership: Proven track record of driving growth and innovation.
  • Stable Financial Performance: Consistent profitability and prudent risk management.

Risks

  • Geographic Concentration: Limited presence outside Southern Indiana increases exposure to regional economic conditions.
  • Regulatory Challenges: Compliance with banking regulations can be costly and time-consuming.
  • Technological Risks: Dependence on digital platforms exposes the company to cybersecurity threats.

Conclusion

First Capital, Inc. (FCAP) is a well-established financial institution with a strong presence in Southern Indiana. The company’s commitment to personalized service, community development, and innovation positions it as a trusted partner for individuals and businesses. While FCAP faces challenges such as regulatory compliance and economic uncertainty, its strategic initiatives and focus on sustainability provide a solid foundation for future growth. As the financial services industry continues to evolve, FCAP is well-equipped to adapt and thrive in a competitive landscape.