First Capital, Inc. reported net income of $3.8 million, or $1.13 per diluted share, for the quarter ended June 30, 2025. This represents a 35.7% increase in net income and a 32.9% jump in diluted EPS compared to $2.8 million, or $0.85 per diluted share, for the same period in 2024.
Net interest income after the provision for credit losses increased by $1.8 million, driven by a rise in the average tax-equivalent yield on interest-earning assets from 4.42% to 4.82%. The tax-equivalent net interest margin expanded significantly from 3.15% in Q2 2024 to 3.59% in Q2 2025, while the average cost of interest-bearing liabilities decreased from 1.71% to 1.64%.
The provision for credit losses decreased from $360,000 to $306,000. Nonperforming assets also decreased from $4.5 million at December 31, 2024, to $4.0 million at June 30, 2025. The company's regulatory leverage ratio stood at 10.8% as of June 30, 2025, indicating strong capital adequacy.
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