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what it is
First Capital is a community bank that takes local deposits, makes local loans, and turns that spread into earnings.
how it gets paid
Last year First Capital made $50M in revenue. residential mortgage lending was the main engine at $18.0M, or 36% of sales.
why it's growing
Treat huge vs. prior year percentages with care at a small bank—period labels and merger accounting move the numbers. Full-year sales sit near $50M; a normal quarter is on the order of ~$13M.
what just happened
Latest quarter revenue about $13M (¼ of ~$50M FY); consensus-style EPS near $1.34—noisy filing variants can show higher prints.
At a glance
B+ balance sheet — decent shape, but not bulletproof
95/100 earnings predictability — you can trust these numbers
10.2x trailing p/e — the market's not buying it — or you found a deal
2.6% dividend yield — cash in your pocket every quarter
$4.90 fy2025 eps est
xvary composite: 59/100 — below average
What they do
First Capital is a community bank that takes local deposits, makes local loans, and turns that spread into earnings.
This is a relationship bank, not an app icon. It runs 17 offices across Indiana and Kentucky with $1.3 billion in assets and 173 employees, which means your customer base is local and your funding base is sticky. Deposits (bank funding → customer money parked at the bank → cheaper fuel for loans) matter here, because a small bank with stable local deposits can keep lending when flashier rivals are paying up for money.
How they make money
$50M
annual revenue · low-teens millions per quarter on a ~$50M year (verify vs. prior year % in filings)
residential mortgage lending
$18.0M
commercial real estate lending
$12.5M
commercial business lending
$8.5M
deposit service income
$6.0M
mortgage sales and investment income
$5.0M
The products that matter
business loans and treasury services
Commercial banking
~$21M FY · CRE + C&I on bridge
~$13M is an order-of-magnitude whole-bank quarter (~¼ of ~$50M FY), not this card’s line items. On the bridge, commercial real estate ($12.5M) plus commercial business ($8.5M) sum to ~$21M annual.
core earnings driver
deposits and personal lending
Consumer banking
33.1% margin support
this is the funding base behind the bank's 33.1% net income margin. Cheap deposits are still one of the few advantages a local bank can build.
funding base
Key numbers
10.2x
trailing p/e
You are paying 10.2 times earnings for a bank that just posted record annual profit, which is cheap if the earnings hold.
$4.90
fy2025 eps est
That is the earnings base behind the current valuation, so every multiple argument starts here.
28.1%
operating margin
Operating margin → profit after core costs → so what: this bank turns more than a quarter of revenue into operating profit.
2.6%
dividend yield
You are getting paid while you wait, which matters more when the stock trades like a sleepy local bank.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 3 — safer than 50% of stocks
- price stability 55 / 100
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for FCAP right now.
source: institutional data · return history unavailable
What just happened
latest quarter
About $13M quarterly revenue on a ~$50M year—EPS near $1.34 on street-style feeds.
Ignore a $42M “quarter” next to a $50M annual unless filings show a different fiscal definition. Small banks often have restated or non-comparable quarters after deals.
~$13M
revenue (q)
~$1.34
eps (Q)
$50M
annual revenue
the number that mattered
The ~$50M full-year revenue base is the sanity check: quarterly sales should be a slice of that, not most of it.
source: company earnings report, 2026
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What could go wrong
The top threat here is Indiana credit and deposit concentration. FCAP is too local to hide from stress in its home market or from pressure on funding costs.
high
Indiana economic concentration
This bank lives in one local market. If borrowers in its Indiana footprint struggle, you do not just get slower growth — you get pressure on credit quality, loan demand, and deposits at the same time.
A business earning $16.4M a year does not have much room for a bad local credit cycle.
med
net interest income does almost all the work
The revenue bridge’s three lending lines (residential + CRE + C&I) sum to ~$39M of the ~$50M FY total; the rest is deposit fees and mortgage-sales / other income. The old $44M / 88% NII stub did not reconcile to those rows — use filings for reported NII.
When most of ~$50M still rides on spread and credit, margin pressure matters more than a one-quarter EPS beat.
med
thin trading liquidity
This is a $156M market cap stock, not a liquid large-cap bank. When regional-bank sentiment turns, the share price can move more on who is trading than on what the bank earned.
Liquidity risk does not show up in p/e. It shows up when you want out.
med
messy feed data can mislead you
The page shows a ~$50M revenue base and also a $2B fy2026 revenue estimate. Those numbers do not belong in the same model. For a thinly covered bank, bad data creates fake precision fast.
If the inputs are wrong, the cheap-looking multiple can become a false signal.
FCAP earns real money, but it earns it in one geography, through one basic banking model, with a stock and data profile that both require more skepticism than the p/e alone suggests.
source: institutional data · regulatory filings · risk analysis
Pay attention to
core metric
spread income vs the ~$39M lending lines on the bridge
Watch whether the combined mortgage / CRE / C&I revenue stack (~$39M FY on this page) holds; fee lines are the balance of ~$50M.
calendar
the next earnings print after ~$1.34 EPS (street-style feed)
You need to see whether record 2025 profit was a peak or the start of a steadier earnings run.
trend
whether the 33.1% net income margin holds up
That margin is doing a lot of the work in the current story. If it compresses, 10.2x earnings stops looking obviously cheap.
risk
how the stock trades when regional banks fall out of favor
With a $156M market cap, you should watch price action around bad bank tape. Thin liquidity is part of the business reality here.
Analyst rankings
earnings predictability
95 / 100
A 95/100 score means the business has produced unusually steady earnings for a bank this small. in human-speak, the numbers have been reliable.
risk rank
3
Risk rank 3 says this is not a bunker stock and not a casino chip. You are in the middle — which is where most regional banks live.
source: institutional data
Institutional activity
institutional ownership data for FCAP is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$50
current price
n/a
target midpoint · n/a from current
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