First Capital, Inc. approved a stock repurchase plan to buy back 113,236 shares, enhancing shareholder value.
Quiver AI Summary
First Capital, Inc. has announced a new Joint Rule 10b5-1/Rule 10b-18 Plan Agreement allowing for the repurchase of up to 113,236 shares of its common stock, starting September 4, 2025, and ending August 28, 2026, unless terminated earlier. This plan is designed to align with the company's long-term capital allocation strategy and comply with SEC regulations regarding stock repurchases. Previously, the company had authorization to buy back up to 240,467 shares since 2008, of which 127,231 shares have already been repurchased. CEO Michael C. Frederick expressed excitement about the added flexibility in responding to market conditions, affirming the Board’s confidence in the company’s value and strategic direction. First Capital, Inc. operates First Harrison Bank, which has numerous locations across Indiana and Kentucky.
Potential Positives
- The establishment of a Joint Rule 10b5-1/Rule 10b-18 Plan allows for the repurchase of up to 113,236 shares of common stock, demonstrating the company's commitment to supporting its stock price and returning value to shareholders.
- This plan offers increased flexibility in responding to market conditions, which can be advantageous for the company’s stock performance.
- The comments from the CEO reflect a strong confidence in the company’s long-term value and strategic direction, which may enhance investor confidence.
- The ongoing repurchase program indicates a commitment to shareholder returns, as evidenced by the historical repurchase of over 127,000 shares under previous stock authorization.
Potential Negatives
- The company's reliance on a stock repurchase plan may indicate a lack of profitable reinvestment opportunities, suggesting potential underperformance in core business areas.
- The extension of the stock repurchase plan might raise concerns among investors about the company's long-term growth prospects and sustainability of shareholder value.
- The warning about forward-looking statements emphasizes the potential for significant uncertainties and risks that could negatively impact the company's future performance, which might concern investors.
FAQ
What is the purpose of the 10b5-1/10b-18 Plan Agreement?
The Plan allows First Capital, Inc. to repurchase up to 113,236 shares of common stock to enhance flexibility and align with long-term strategies.
When does the stock repurchase plan begin and end?
The stock repurchase plan commences on September 4, 2025, and expires on August 28, 2026, unless terminated earlier.
How many shares have been repurchased under the previous authorization?
As of August 29, 2025, First Capital, Inc. has repurchased 127,231 shares under the previous stock repurchase authorization.
Who is the CEO of First Capital, Inc.?
The President and CEO of First Capital, Inc. is Michael C. Frederick, who commented on the new stock repurchase plan.
Where can I find more information about First Harrison Bank?
More information can be found by visiting the Investor Relations section on First Harrison Bank’s website at www.firstharrison.com.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$FCAP Insider Trading Activity
$FCAP insiders have traded $FCAP stock on the open market 2 times in the past 6 months. Of those trades, 2 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $FCAP stock by insiders over the last 6 months:
- PAMELA G KRAFT has made 2 purchases buying 200 shares for an estimated $8,955 and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$FCAP Hedge Fund Activity
We have seen 39 institutional investors add shares of $FCAP stock to their portfolio, and 9 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BLACKROCK, INC. added 118,388 shares (+699.5%) to their portfolio in Q2 2025, for an estimated $4,888,240
- FOURTHSTONE LLC removed 57,312 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $2,366,412
- GEODE CAPITAL MANAGEMENT, LLC added 40,918 shares (+109.7%) to their portfolio in Q2 2025, for an estimated $1,689,504
- UBS GROUP AG added 27,282 shares (+646.0%) to their portfolio in Q2 2025, for an estimated $1,126,473
- TRUFFLE HOUND CAPITAL, LLC removed 26,298 shares (-52.6%) from their portfolio in Q2 2025, for an estimated $1,085,844
- VANGUARD GROUP INC added 25,225 shares (+55.4%) to their portfolio in Q2 2025, for an estimated $1,041,540
- STATE STREET CORP added 20,604 shares (+200.6%) to their portfolio in Q2 2025, for an estimated $850,739
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
CORYDON, Ind., Aug. 29, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of First Capital, Inc. (NASDAQ: FCAP), the holding company for First Harrison Bank (the “Bank”), entered into a Joint Rule 10b5-1/Rule 10b-18 Plan Agreement (the “Plan”) under which the Company’s designated broker will have the authority to repurchase up to 113,236 shares of common stock of the Company commencing on September 4, 2025 and expiring August 28, 2026, unless terminated earlier pursuant to the terms of the Plan. The Plan is intended to be administered in accordance with the terms of Rule 10b-18 and 10b5-1, which provide safe harbor from liability for stock manipulation and insider trading rules, respectively.
The Plan has been established in connection with the Company’s previously disclosed stock repurchase authorization (the “Repurchase Authorization”), which was approved by the Company’s Board of Directors on August 19, 2008, and authorized the repurchase of up to 240,467 shares of the Company’s common stock, as conditions warrant. As of August 29, 2025, 127,231 shares of Company common stock had been repurchased under the Repurchase Authorization. The timing and extent of the repurchases under the Plan are subject to Securities and Exchange Commission (the “SEC”) regulations as well as certain price, market volume and timing constraints specified in the Plan.
Michael C. Frederick, President and Chief Executive Officer, commented “We are excited to introduce additional flexibility into our existing stock repurchase plan, aligning it more closely with our long-term capital allocation strategy and reflecting our confidence in the Company’s value. This enhanced flexibility allows us to respond more dynamically to market conditions while continuing to deliver value to our shareholders. This decision reflects the Board’s strong belief in the Company’s strategic direction and long-term value creation.”
First Capital, Inc. is the holding company for First Harrison Bank. First Harrison currently has seventeen offices in the Indiana communities of Corydon, Edwardsville, Greenville, Floyds Knobs, Palmyra, New Albany, New Salisbury, Jeffersonville, Salem, Lanesville and Charlestown and the Kentucky communities of Shepherdsville, Mt. Washington and Lebanon Junction. Access to First Harrison Bank accounts, including online banking and electronic bill payments, is available anywhere with Internet access through the Bank’s website at www.firstharrison.com. For more information and financial data about First Capital, Inc., please visit Investor Relations at First Harrison Bank’s aforementioned website.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of the words “anticipate,” “believe,” “expect,” “intend,” “could” and “should,” and other words of similar meaning. Forward-looking statements are not historical facts nor guarantees of future performance; rather, they are statements based on the Company’s current beliefs, assumptions, and expectations regarding its business strategies and their intended results and its future performance.
Numerous risks and uncertainties could cause or contribute to the Company’s actual results, performance and achievements to be materially different from those expressed or implied by these forward-looking statements. Factors that may cause or contribute to these differences include, without limitation, general economic conditions, including changes in market interest rates and changes in monetary and fiscal policies of the federal government; competition; the ability of the Company to execute its business plan; legislative and regulatory changes; the quality and composition of the loan and investment portfolios; loan demand; deposit flows; changes in accounting principles and guidelines; and other factors disclosed periodically in the Company’s filings with the Securities and Exchange Commission.
Because of the risks and uncertainties inherent in forward-looking statements, readers are cautioned not to place undue reliance on them, whether included in this press release, the Company’s reports, or made elsewhere from time to time by the Company or on its behalf. These forward-looking statements are made only as of the date of this press release, and the Company assumes no obligation to update any forward-looking statements after the date of this press release.
Contact:
Joshua Stevens
Chief Financial Officer
812-738-1570
