Regional lender First Capital's Q3 profit surges on higher interest income

Overview

• First Capital Q3 net income rises to $4.5 mln, up from $2.9 mln last year

• Net interest income for Q3 increases by $2.1 mln year-over-year

• Provision for credit losses decreases to $150,000 from $463,000 in Q3 2024

Outlook

• Company did not provide specific guidance for future quarters or full year in press release

Result Drivers

• INTEREST INCOME - Increase in average yield and balance of interest-earning assets drove higher interest income

• NONINTEREST INCOME - Gains on equity securities and loan sales contributed to higher noninterest income

• CREDIT LOSS PROVISION - Decrease in provision for credit losses due to lower net charge-offs and improved credit conditions

Key Details

Press Release: ID:nGNXb8QQnB

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