1. A community bank operating in Indiana and Kentucky, similar to a smaller, regional version of PNC Bank or U.S. Bank.

2. Think of it as the "neighborhood bank" for its operating areas, akin to a locally-focused iteration of a Bank of America branch, but as an independent company.

• Deposit Accounts: Offers various checking, savings, money market, and certificate of deposit accounts, along with retirement savings plans.
• Mortgage Loans: Provides fixed-rate and adjustable-rate residential, construction, and commercial real estate loans, including those originated for the secondary market.
• Commercial Business Loans: Extends loans to businesses for various operational and investment purposes.
• Consumer Loans: Offers secured loans such as automobile, home equity, home improvement, and boat loans, as well as unsecured personal loans.
• Non-Deposit Investment Products: Sells various investment products that are not FDIC-insured bank deposits.

First Capital, Inc. (FCAP) is a bank holding company that provides banking services to a diverse customer base. As a financial institution, it does not have a few major "customers" in the traditional sense of named companies. Instead, its customers are the individuals and businesses that utilize its deposit, lending, and other financial services. The company primarily serves the following categories of customers:

• Individual Customers (Consumers): This category includes everyday people who use First Capital for personal banking needs. Services offered to individuals include checking accounts, savings accounts, money market accounts, certificates of deposit, retirement savings plans, residential mortgage loans (both fixed-rate and adjustable-rate), and a variety of consumer loans such as automobile and truck loans, home equity loans, home improvement loans, boat loans, mobile home loans, and unsecured consumer loans.
• Business Customers: This category encompasses various businesses and commercial enterprises that utilize First Capital's services for their operational and financial needs. These services include business checking and savings accounts, money market accounts, certificates of deposit, commercial real estate loans, and general commercial business loans.
• Real Estate Developers and Investors: This specific segment within business customers focuses on entities involved in property development and investment. First Capital provides them with construction loans for both residential and commercial properties, as well as commercial real estate loans.

Names of Suppliers:

• Jack Henry & Associates, Inc. (Symbol: JHC)

Michael Chris Frederick, Chief Executive Officer, President, and Director

Michael Chris Frederick was appointed Chief Executive Officer and President in July 2023. He has been affiliated with First Harrison Bank, a subsidiary of First Capital, Inc., since 1990, and previously served as the Chief Financial Officer of both the Bank and the Company.

Joshua Stevens, Chief Financial Officer, Executive Vice President, Treasurer, and Director

Joshua Stevens, a CPA, assumed the role of Chief Financial Officer of First Harrison Bank and First Capital, Inc. in March 2023. He joined the bank in August 2022, bringing experience from various leadership roles at Monroe Shine & Co., Inc. from 2009 to 2022, where he provided audit, tax, compliance, and consulting services to financial institutions.

William W. Harrod, Chief Operating Officer and Director

William W. Harrod serves as a key executive at First Capital, Inc., holding the positions of Chief Operating Officer and Director. He was previously the President and Chief Executive Officer of the Company until July 1, 2023. He is known for his deep understanding of operational complexities and commitment to driving results.

Joseph D. Mahuron, Chief Credit Officer

Joseph D. Mahuron is the Chief Credit Officer for First Capital, Inc. and First Harrison Bank. In this role, he is responsible for the company's credit policies, procedures, and the overall management of its credit portfolio. His expertise in credit analysis and risk management is crucial for the financial stability and prudent lending practices of both organizations.

Jennifer Meredith, Corporation Secretary and HR & Admin. Officer

Jennifer Meredith holds dual roles as Corporation Secretary and HR & Admin. Officer at First Capital, Inc. She manages corporate governance functions, ensuring compliance with legal and regulatory requirements, maintaining corporate records, and facilitating board meetings. Additionally, she is instrumental in shaping the company's human capital strategy, including talent acquisition, employee development, and compensation and benefits.

Interest Rate Volatility

Commercial Real Estate (CRE) Exposure

Digital Competition

• The rise of online-only banks and neobanks (e.g., Ally Bank, Chime, SoFi) which offer competitive deposit rates, lower fees, and superior digital user experiences. These entities directly compete for First Capital's deposit base and basic banking services, particularly among younger, digitally-savvy customers who may prioritize convenience over physical branch locations.
• Digital-first lenders specializing in specific loan products, such as online mortgage originators (e.g., Rocket Mortgage) and consumer loan platforms. These companies leverage technology to offer faster approval processes, streamlined applications, and potentially more competitive rates, directly challenging First Capital's core lending business without the overhead of physical branches.

Addressable Markets for First Capital (FCAP) Products and Services

For First Capital (symbol: FCAP), operating in Indiana and Kentucky, the addressable markets for its main products and services are identified by state-specific banking and lending volumes.

Indiana

• Deposit Instruments: The total bank deposits in Indiana were approximately $209 billion in 2024.
• Real Estate Mortgage Loans (New Home Loans): The market for new home loans booked in Indiana was approximately $17.2 billion in 2024.
• Commercial Business Loans (Small Business Loans): The market for small business loans in Indiana was approximately $12.3 billion in 2024.

Kentucky

• Deposit Instruments: The total bank deposits in Kentucky were approximately $116 billion in 2024.
• Real Estate Mortgage Loans (New Home Loans): The market for new home loans booked in Kentucky was approximately $8.9 billion in 2024.
• Commercial Business Loans (Small Business Loans): The market for small business loans in Kentucky was approximately $7.2 billion in 2024.

For First Capital, Inc. (FCAP), expected drivers of future revenue growth over the next 2-3 years include a focus on expanding net interest margin, growth in its loan portfolio, continued deposit growth, and diversification of noninterest income.

• Net Interest Margin (NIM) Expansion and Optimized Asset Yields: A primary driver of revenue growth is the increase in Net Interest Income (NII), largely propelled by higher yields on interest-earning assets. The company has demonstrated improved efficiency in its core banking operations, with the tax-equivalent net interest margin (NIM) showing a significant jump in recent periods. This indicates successful balance sheet management in a changing rate environment.
• Growth in Loan Portfolio: The deployment of operating cash and new deposits into interest-earning assets, particularly loans, is a positive indicator for future interest income. First Capital has reported growth in gross loans, contributing to overall balance sheet expansion and supporting net interest margin improvement.
• Deposit Growth and Funding Stability: Sustained growth in customer deposits directly underpins the bank's funding stability and capacity for growth. An increase in deposits provides the necessary capital to fund new loans and other interest-earning assets, supporting overall revenue generation.
• Diversification and Growth in Noninterest Income: The noninterest income segment is contributing significantly to revenue diversification. This growth is being fueled by specific positive changes, including gains on equity securities, increased gains from the sale of loans, and higher service charges on deposits, signaling a stronger contribution from fee-based activities.

Share Repurchases

• First Capital, Inc. announced a Joint Rule 10b5-1/Rule 10b-18 Plan Agreement on August 29, 2025, authorizing the repurchase of up to 113,236 shares of common stock between September 4, 2025, and August 28, 2026.
• This plan is part of a broader stock repurchase authorization approved on August 19, 2008, which initially permitted the repurchase of up to 240,467 shares.
• As of August 29, 2025, the company had already repurchased 127,231 shares under the 2008 authorization.

Share Issuance

• Information regarding the dollar amount of shares issued by First Capital (FCAP) over the last 3-5 years is not available in the provided search results.

Inbound Investments

• Information regarding large investments made in First Capital (FCAP) by third-parties over the last 3-5 years is not available in the provided search results.

Outbound Investments

• As of June 30, 2025, First Capital made an equity investment of 90,000 shares, representing approximately 5% ownership, with a cost of $1.9 million.
• The company has unfunded commitments related to limited partnership, qualified affordable housing, and solar energy tax credit investments, with expected capital calls through 2026–2029.

Capital Expenditures

• Information regarding the dollar value of capital expenditures for First Capital (FCAP) over the last 3-5 years, or expected capital expenditures for the upcoming year, is not available in the provided search results.