First Capital (FCAP) Q3 2025 earnings summary

Executive summary

• Net income for Q3 2025 was $4.5 million ($1.34 per diluted share), up from $2.9 million ($0.87 per share) in Q3 2024, with nine-month net income rising to $11.5 million ($3.43 per share) from $8.7 million ($2.59 per share) year-over-year.

• Total assets grew by $48.0 million to $1.24 billion as of September 30, 2025, driven by increases in loans and securities available for sale.

• Net interest income after provision for credit losses rose $2.1 million year-over-year for Q3 2025 and $4.9 million for the nine months ended September 30, 2025.

Financial highlights

• Net loans receivable increased $11.1 million to $642.3 million since year-end 2024.

• Securities available for sale rose $32.4 million to $421.6 million, with $108.0 million in purchases and $17.9 million in sales.

• Total deposits increased $28.3 million to $1.09 billion, with time deposits up $28.9 million.

• Net interest margin improved to 3.71% in Q3 2025 from 3.19% in Q3 2024, and to 3.55% for the nine months from 3.16%.

• Provision for credit losses decreased to $150,000 from $463,000 year-over-year for the quarter.

• Noninterest income increased $506,000 in Q3, mainly due to gains on equity securities and loan sales.

• Noninterest expense rose $540,000 in Q3, mainly due to higher occupancy and compensation costs.

• Effective tax rate for Q3 2025 was 19.2%, up from 15.6% in Q3 2024.

Outlook and guidance

• Management expects continued focus on loan and deposit growth, with attention to interest rate risk and competitive deposit environment.

• Forward-looking statements are subject to risks including economic conditions, interest rates, competition, and regulatory changes.

• No material changes to risk factors or critical accounting policies were reported.