First Capital, Inc. Reports Robust Net Income of $3.82 Million in Q1 2023

First Capital, Inc.(FCAP), a leading financial insti tution, recently released its unaudited financial statements for the first quarter of 2023. The report indicates impressive financial performance, with net income reaching $3.82 million and total revenue amounting to $10.19 million. The following sections delve into the detailed financial data and key highlights of the company's operations during the first quarter.

Consolidated Balance Sheets

As of March 31, 2023, First Capital, Inc. recorded total assets of $1.14 billion, showing a slight decline from the previous year-end's total of $1.15 billion. The company's cash and cash equivalents amounted to $35.88 million, down from $66.30 million at the end of 2022. Interest-bearing time deposits remained stable at $3.68 million. Securities available for sale saw an increase to $470.09 million from $460.82 million, while loans held for sale decreased to $0.58 million from $0.79 million. Loans, net of allowance for credit losses, increased to $565.58 million from $557.96 million. The company's total liabilities stood at $1.04 billion, compared to $1.07 billion at the end of the previous year.

Consolidated Statements of Income