First Capital (FCAP) Q1 2026 earnings summary

Executive summary

• Net income attributable to shareholders rose to $4.3 million ($1.30 per diluted share) for Q1 2026, up from $3.2 million ($0.97 per diluted share) in Q1 2025.

• Total assets increased to $1.28 billion at March 31, 2026, from $1.27 billion at December 31, 2025, driven by loan growth and higher cash balances.

• Total deposits grew by $13.6 million to $1.14 billion, with increases in savings and time deposits offsetting a decline in non-interest checking.

Financial highlights

• Net interest income after provision for credit losses increased by $1.8 million year-over-year.

• Total interest income rose by $1.6 million, reflecting higher yields and balances on interest-earning assets.

• Interest expense decreased by $259,000, with the average cost of interest-bearing liabilities falling to 1.56%.

• Noninterest income increased by $200,000, mainly due to higher gains on equity securities and increased ATM/debit card fees.

• Noninterest expense rose by $572,000, primarily from higher professional services, compensation, and consumer fraud losses.

• Effective tax rate increased to 19.2% from 17.2% year-over-year.

Outlook and guidance

• Management expects continued sensitivity to interest rate changes, with simulation modeling indicating net interest income would rise with rate increases and fall with decreases.

• The company remains well-capitalized under regulatory guidelines and maintains strong liquidity and borrowing capacity.

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