First Capital Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012
January 28, 2013 at 04:00 pm
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First Capital Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. Net income attributable to company was $3.9 million or $1.41 per diluted share for the year ended December 31, 2012, compared to net income attributable to company of $4.0 million or $1.43 per diluted share for the year ended December 31, 2011. The decrease in earnings is primarily due to the Bank's previously announced voluntary early retirement program that was effective September 30, 2012. Net interest income after provision for loan losses increased $122,000 for the year ended December 31, 2012 as compared to the year ended December 31, 2011. Net interest income was $16.335 million compared to $16.513 million a year ago period. Income before income taxes was $5.494 million compared to $5.528 million a year ago period. Return on average assets (annualized for 3-month period) was 1.07% and return on average equity (annualized for 3-month period) was 9.48% compared to return on average assets (annualized for 3-month period) of 0.94% and return on average equity (annualized for 3-month period) of 8.22% a year ago period.
For the quarter ended December 31, 2012, the company's net income attributable to company was $1.2 million or $0.45 per diluted share compared to net income attributable to company of $1.0 million or $0.37 per diluted share for the same period in 2011. Net interest income after provision for loan losses increased $126,000 for the quarter ended December 31, 2012 as compared to the quarter ended December 31, 2011. Net interest income was $4.144 million compared to $4.118 million a year ago period. Income before income taxes was $1.803 million compared to $1.460 million a year ago period. Return on average assets (annualized for 3-month period) was 0.86% and return on average equity (annualized for 3-month period) was 7.54% compared to return on average assets (annualized for 3-month period) of 0.90% and return on average equity (annualized for 3-month period) of 8.04% a year ago period.
First Capital, Inc. is the holding company for First Harrison Bank (the Bank). The Bank is a chartered commercial bank, which provides a variety of banking services to individuals and business customers. The Bank primarily provides real estate mortgage loans. The Bank originates mortgage loans for sale in the secondary market. The Bank also originates consumer loans and residential construction loans for the loan portfolio. First Harrison Investments, Inc. and First Harrison Holdings, Inc. are wholly owned subsidiaries of the Bank that jointly own First Harrison, LLC, which holds and manages an investment securities portfolio. First Harrison REIT, Inc. is a wholly owned subsidiary of First Harrison Holdings, Inc., which holds a portion of the Bankâs real estate mortgage loan portfolio. The Bank has about 18 offices in the Indiana communities of Corydon, Edwardsville, Greenville, Floyds Knobs, Palmyra, New Albany, New Salisbury, Jeffersonville, Lanesville, and Charlestown and others.
FIRST CAPITAL, INC. 
