ADDED
(the Company, First Capital, us, or we ) was incorporated under Indiana law on September 11, 1998.
For the year ended December 31, 2025, the Bank originated and funded $41.8 million of residential mortgage loans for sale in the secondary market.
At December 31, 2025, the Bank had approved speculative construction loans, a construction loan for which there is not a commitment for permanent financing in place at the time the construction loan was originated, with total commitments of $6.8 million and outstanding balances of $3.1 million.
Approved credit lines totaled $39.3 million at December 31, 2025, of which $11.9 million was outstanding.
Floating or Fixed Adjustable Rates Rates (In thousands) 1-4 Family Residential Mortgage $ 52,484 $ 84,585 Multifamily Residential 29,536 35,776 Commercial Real Estate 67,904 121,175 1-4 Family Residential Construction 88 Other Construction, Development and Land 20,228 20,448 Home Equity and Second Mortgage 8,474 59,171 Commercial Business 37,765 5,550 Consumer and Other 34,194 4,803 Total Gross Loans $ 250,585 $ 331,596 Loan Solicitation and Processing.
The Bank had outstanding loan commitments of approximately $20.6 million at December 31, 2025.
At December 31, 2025, the Bank had outstanding letters of credit of $308,000.
At December 31, 2025, the Bank had commitments to originate $799,000 in fixed-rate mortgage loans intended for sale in the secondary market after the loans are closed.
At December 31, 2025, nonperforming loans totaled $4.4 million, consisting of nonaccrual loans and accruing loans past due 90 days or more.
In addition, the Bank identified $1.9 million in loans as special mention loans at December 31, 2025.
REMOVED
Form 10-K Summary 61 SIGNATURES i This Annual Report on Form 10-K contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
(the Company or First Capital ) was incorporated under Indiana law on September 11, 1998.
For the year ended December 31, 2024, the Bank originated and funded $32.8 million of residential mortgage loans for sale in the secondary market.
The Bank s lending policies generally limit the maximum loan-to-value ( LTV ) ratio on fixed-rate and ARM loans to 80% of the lesser of the appraised value or purchase price of the underlying residential property unless private mortgage insurance to cover the excess over 80% is obtained, in which case the mortgage is limited to 95% (or 97% under a Freddie Mac program) of the lesser of appraised value or purchase price.
At December 31, 2024, the Bank had approved speculative construction loans, a construction loan for which there is not a commitment for permanent financing in place at the time the construction loan was originated, with total commitments of $5.2 million and outstanding balances of $3.2 million.
Approved credit lines totaled $39.1 million at December 31, 2024, of which $15.2 million was outstanding.
Loan Maturity and Repricing The following table sets forth certain information at December 31, 2024 regarding the dollar amount of loans maturing in the Bank s portfolio based on their contractual terms to maturity, but does not include potential prepayments.
Floating or Fixed Adjustable Rates Rates (In thousands) 1-4 Family Residential Mortgage $ 53,940 $ 81,034 Multifamily Residential 10,142 24,902 Commercial Real Estate 55,788 121,393 1-4 Family Residential Construction - 1,040 Other Construction, Development and Land 38,232 27,007 Home Equity and Second Mortgage 9,335 54,234 Commercial Business 37,768 6,227 Consumer and Other 37,677 4,747 Total Gross Loans $ 242,882 $ 320,584 6 Loan Solicitation and Processing.
The Bank had outstanding loan commitments of approximately $16.5 million at December 31, 2024.
At December 31, 2024, the Bank had outstanding letters of credit of $2.1 million.