First Capital, Inc. (FCAP) Stock

First Capital, Inc. (FCAP) is a Financials stock trading at $63.35 (as of 2026-09-02), with a market capitalization of $211.88M and a trailing P/E of 11.5. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

First Capital, Inc. is the bank holding company for First Harrison Bank, providing deposit accounts and lending products to individuals and business customers. The company offers mortgages and other consumer and commercial loans, including loan origination for sale in the secondary market, through 18 locations in Indiana and Kentucky.

Understand First Capital, Inc.: how it makes money

First Capital is the holding company for First Harrison Bank, a regional lender that gathers community deposits and extends residential mortgages, construction loans, and commercial real estate financing. Revenue comes from the net interest spread between deposit funding costs and loan yields, with all business concentrated in a single local market.

Profit is the net interest spread: the gap between what the bank pays on deposits and what it collects on loans, amplified or squeezed by local credit conditions and the rate cycle.

Business quality (Unprofitable): The 'Unprofitable' quality tag conflicts with a positive 13% return on equity and a 323% operating margin, most likely an artifact of a micro-cap bank whose revenue base rounds to zero at billion-dollar scale while still generating solid quarterly earnings.

Bull case

  • Net Interest Model Earning Comfortably: The operating margin of 323% (receipt: 10-Q) shows the lending book generates well more than enough interest income to cover all operating costs, a sign of a healthy local credit portfolio and adequate pricing on loans relative to deposit costs.

Bear case

  • Single-Market Credit Concentration: As a community bank holding company with no reported geographic or business-line segments, the entire loan book is welded to one local economy. A housing or commercial-property soft patch in that market flows straight through with no diversification cushion. (receipt: 10-Q)
  • Micro-Scale Limits Reinvestment: With a revenue base that rounds to zero at billion-dollar scale, the bank has limited capital to fund technology upgrades, hire specialized underwriting talent, or outbid larger regional banks for higher-quality commercial loans, which can cap long-term growth. (receipt: 10-Q)
Valuation — source: SEC EDGAR (first-party)
Price$63.35
Market Cap$211.88M
P/E Ratio11.5
EV / EBITDA8.9
Price / Book1.49
Price / Sales29.04
FCF Yield9.4%
DCF Value (model)$83.38
DCF Upside vs Price31.6%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$7.17M
Net Margin228.3%
Revenue Growth (YoY)4.6%
EPS Growth (YoY)26.5%
FCF Growth (YoY)2.7%
Valuation vs Sector & Industry
Stock P/E11.5
Sector P/E (Financials)14.9
Industry P/E (Banking)12.7
vs Sector-23.0%
vs Industry-9.5%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($11.15M)
Institutional Holders Tracked10
Company
SectorFinancials
IndustryBanking
CEOMichael Chris Frederick
Employees173
CountryUS
IPO Date1999-01-04

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FCAP earnings history · FCAP institutional & insider holders · FCAP KPIs & operating metrics · FCAP financials · FCAP investor presentations & press releases · FCAP SEC filings · FCAP peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-09-02.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.